Know The importance of health insurance for Self Employed people

In the old days, being self-employed was considered an unreliable means of income. People couldn’t come to terms with the ambitions of many businessmen and entrepreneurs because they believed that it lacked the stability of a 9 to 5 job. However, with the surging start-up culture, the number of enthusiastic and young freelancers, entrepreneurs and self-employed individuals is on the rise.

Running a business by yourself is not an easy task though. It requires determination, grit and business acumen. Since you have no one else to rely on, the risks are amplified and there aren’t any safety nets for you to fall back on. If you fall sick and take a few days, your income gets affected.

People who work in big corporations are entitled to employee health coverage under the company’s group health insurance plan. Though this may not be exhaustive, it provides reasonable coverage against most health risks. Keeping all of this in mind, it becomes important to consider medical insurance for self-employed individuals seriously.

Self-employed health insurance

Most major insurance companies like HDFC ERGO offer tailor-made health insurance solutions for those who are self-employed. Companies take cognizance of the fact that the self-employed cannot pay very high premiums since it will eat out of their small scale businesses directly. So, health insurance for the self-employed people comes with many benefits like:

• Deductibility of health insurance premiums: Premium amounts for self-employed individuals are highly negotiable with companies offering highly attractive discounts.
• Income tax (80D) benefit: If you are a self-employed individual, you are entitled to tax benefits on your health insurance premium as per Section 80D of the Income Tax Act. Tax deduction for health insurance of self-employed people is one of the most attractive benefits.

Companies like HDFC ERGO offer some of the best health insurance plans for the self-employed. You don’t have to worry about not being associated with a corporate group insurance plan and do not have to fret over very large premium plans for individual health insurance. Tailor-made self-employed individual health insurance plans ensure that you remain protected from the risks of an unexpected health ailment and the associated costs incurred during diagnosis, treatment and hospitalization.

When you choose HDFC ERGO for your health insurance needs, you can rest assured that you’ll get 24x7 customer service, 6000+ network of hospitals and the peace of mind that comes with choosing one of the best insurance companies in India!

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