Health Insurance Plan In India – Protect Yourself And Your Loved Ones Against Unforeseen Diseases, Pandemics And Health Related Issues

ByAmrina Alshaikh

Overview:

Cost of medical ailments can be quite high and unfavourable maybe in lakhs and one may have to resort to using his lifetime savings, borrowing from relatives or breaking existing investments. One should always consider a few factors like family history, type of job, medical inflation and age before taking up an insurance health policy for treatment and rehabilitation. A health insurance plan is an indemnity or a promise which reimburses the expenses incurred. 

The best Health policy will provide for:

Critical medical services that might be unavailable otherwise to a layman.

Treatments not covered by a traditional policy will always be covered under a good health insurance plan

Compensation for daily living expenses that enables the critically ill to invest their time and energy on getting well instead of carrying on with their daily chores and work to be financially independent and to pay their bills

Transportation expenses, such as commuting to and from medical centres and treatment centres, expenses related to vehicles, and arranging for wheelchairs or other mechanical equipment for critically ill patients who can no longer climb staircases

Terminally ill patients, or those who simply need extra time to recuperate, can use the funds to take a break and spend some quality time with friends or family.

Factors to be considered before buying a comprehensive health cover are:

  • Sum Insured Rebound, which means an automatic recharge up to the amount of sum insured every financial year.
  • The benefit of paying instalments in case the amount of premiums or payment towards the insurance company is on the higher side.
  • No medical tests up to the age of 45
  • Cashless home health care which means a cashless facility available for senior citizens in case of hospitalisation and home hospitalisation should be included too
  • Hospitalisation and medical expenses covered of the relevant ailments that have been agreed upon.
  • Pre and Post hospitalisation and In-hospitalisation benefits should be included
  • Domiciliary Hospitalisation Cover
  • Day Care procedures
  • Ayush Benefits
  • Organ Donor benefits
  • Lower Co-payment facility which will be beneficial for the individual as if he has t pay a portion of the medical expenses towards his parents, it should be on the lower rate.
  • Smooth Insurance Policy with clear terms and conditions
  • Mental wellbeing and counselling should be covered along with other benefits like diet, nutrition and health regimes to be provided.
  • Recuperation and recovery benefits post the illness for the parents to rebound after their ailment
  • Free Health check on an annual basis for the parents
  • Network hospitals should be in good number to help the individual avail cashless hospitalising facility.
  • Ambulance, ICU, room rent, and daily allowance charges should be covered
  • Tax Benefits up to Rs. 75000 are provided by a few insurance companies and one must consider this factor before settling in for an insurance policy
  • Lifetime renewability should be offered

No restriction on entry age which normally is 61 years but there should be a leverage.