A health emergency can disrupt your life and drain years of your hard-earned savings. Having a health insurance policy therefore becomes non-negotiable. Besides, it is imperative to understand what exactly a health insurance is, what does your policy cover, what are the misconceptions and what exactly one should do in case of any confusion pertaining to health insurance.
As one of India’s leading private sector general insurers, HDFC ERGO General Insurance has introduced Insurance Ki Pathshala: a knowledge-led series that simplifies insurance and helps people make confident, informed decisions.
In the latest episode of Insurance Ki Pathshala, Ankur Bahorey, Director and Chief Business Officer, HDFC ERGO General Insurance, discusses the importance of health insurance and how it safeguards both health and finances in a conversation with Gautam Khanna, CEO, PD Hinduja Hospital & Medical Research Centre, anchored by Anurag Shah from Times Now.
If your health is your most valuable asset, health insurance is its protection plan. It ensures that when a medical emergency strikes, whether it’s hospitalisation, surgery, or a critical illness, the financial burden doesn’t rest entirely on you and your family.
Health insurance covers hospitalisation expenses, surgical costs, and pre- and post-hospitalisation care. Many policies also include coverage for consumables, daycare procedures, and long-term treatment for chronic illnesses. When the unexpected happens, it cushions the financial shock, allowing you to focus on recovery, not on medical bills.
A good health insurance policy goes beyond just hospitalisation. Here is what to look for:
● Hospitalisation and surgical expenses
● Consumables: IV lines, gloves, dressings, and other items used during treatment
● Pre- and post-hospitalisation costs
● Daycare procedures that do not require 24-hour admission
● Chronic illness coverage after the waiting period
● No Claim Bonus: your sum insured grows every year you stay healthy
● Freedom to choose your own hospital and doctor
Choosing the right sum insured is as important as choosing the right policy. It is imperative to buy an individual policy as early as possible because being younger and healthier means lower premiums and comprehensive protection.
A simple way to decide:
● For family cover: Factor in at least two large claims in a year
● Review your cover every five years as medical costs keep rising
● Having a corporate policy is enough: Your employer’s cover ends when your job does. An individual policy is always essential alongside it.
● Cashless means paying nothing: Deductibles, consumables, and amounts over your sum insured are still your responsibility.
● Unused premiums are wasted: Every year when you don’t make a claim, you earn a No Claim Bonus that accumulates over time, increasing your coverage at no extra cost.
● 24-hour hospitalisation is always required: Many daycare surgeries and short procedures are fully covered without an overnight stay.
The latest episode of Insurance Ki Pathshala simplifies insurance, breaking down everything, a policyholder truly needs to know in clear, easy language. Whether you are buying health insurance for the first time or looking to strengthen your existing coverage, this episode empowers you to make smarter, more confident decisions to protect your health and secure your family’s future.
Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sale.
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