Jun 3 (PR): Not having a health insurance policy is a huge mistake in a world where the cost of getting medical care is constantly on the upswing, and a single hospitalization event can end up costing millions of rupees in treatment with the potential to wipe out a person’s entire life’s savings. Health insurance plans give you unhindered access to the top medical institutes regardless of the inflation, without you having to dig into your savings.

If you are still to get a health insurance plan, then you are at the right place as we are going to list down a few points to help you understand exactly why you must invest in health insurance plans.

Pre- and Post-Hospitalization Coverage

A health insurance policy covers you for all medical diagnostic procedures, doctor’s fee, and other tests for up to 30 days from the date of admission to 60 days of post-hospitalization coverage for all tests, medicines, doctor’s fee, etc. However, this could vary across health insurance service providers, so compare health insurance policies to find out the extent of pre- and post-hospitalization coverage on offer.

Cover for Critical Illnesses

Critical illnesses take longer to fix and require extensive hospitalization for one to get better. Good health insurance plans often-offer this as a rider or additional benefit where the insured gets a lumpsum amount on being diagnosed with a critical illness to help take care of the immediate expenses such as household expenses, additional medical costs, etc. This is a huge benefit considering the fact that the insured might not be in a position to work for quite some time as recovery takes time; therefore, the lumpsum amount can help the family meet all of their immediate expenses without having to dig into their savings.

Cashless Treatment Across Network Hospitals

Leading health insurance service providers have tie-ups with the best medical institutes and hospitals across the country. This gives you access to cashless medical care across their entire network of hospitals. Everything from surgeon’s fee, room rent, nursing charges, medicines, surgery, blood, medicines, etc. is taken care of by the insurance service provider so that you can focus on the one thing that’s most important—getting better. Also, whenever you are buying a health insurance policy, check to see if hospitals in your immediate vicinity are covered or not to ensure that you can get access to medical help as soon as possible during an emergency situation without having to travel tens of kilometers in reaching the nearest network hospital. Time is of the essence during a critical situation, and the faster one gets medical attention, the better it is.

Tax Saving

You can save taxes under Section 80 D of the Income Tax Act on the premiums that you are paying on your health insurance plan. This is a great way of not only saving on the money that you would otherwise have to pay in taxes towards investing in an instrument that takes care of all your hospitalization costs.

Cumulative Bonus and Other Perks

Some health insurance plans come with a cumulative bonus option where your coverage increases every claim free year. So, you end up getting higher coverage amount at the same premium every year you don’t file for a claim. This is a great way increasing your overall sum assured without spending more than you already are on the premiums. Also, compare policies for other perks such as free annual health checkups, etc.

A health insurance plan is your financial safety net in the unfortunate event you fall sick and need medical assistance. By protecting your financial interest and safeguarding the future of your family and loved ones; health insurance plans play a larger picture in an individual’s life.

Max life insurance is one of the premier health insurance service providers in the industry with a stellar track record of offering the best health insurance plans with a rock-solid reputation when it comes to their settlement ratios. Moreover, with their extensive network of hospitals, you are never too far away from the best medical facilities in the country. All in all, they offer some of the best health insurance policies on offer that can outmatch all policies across health insurance service providers in India.

So, in case you still haven’t got a health insurance policy, it’s high time to get one so that you can stay protected and have access to the best in medical care without the risk of your savings being wiped out for when you need nothing but the best in medical care to heal and get back to your family.