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This Raksha Bandhan, Protect Your Sister's Health with Health Insurance Policy

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Published on August 12, 2021. EST READ TIME: 3 minutes



Raksha Bandhan is one of the most auspicious festivals of India with a wholesome significance - a bond that promises protection from all evil. It entails the sister tying a rakhi or a ‘sacred thread’ to her brother’s wrist, and in return the brother promises her protection and presents her a gift. As the raksha bandhan season approaches,  you must be wondering what would be a perfect gift for your sister. Your search ends here! This year, consider protecting the most important gift of all - health, through an insurance policy to cover it.

The world has been in the midst of a deadly pandemic since 2020. The current grim reality we are living in has led our society to come to the collective realisation of the importance of prioritising health first and foremost. Without good health, every other aspect of life is meaningless. Amidst the increasing COVID cases, the hospitalisation and healthcare charges are reaching skyscraper levels already - and are expected to inflate further. So in order to ensure good health, a robust health insurance plan must be in place to take care of any medical emergencies. Additionally, an unprecedented medical emergency generally escalates to a financial emergency due to inflating costs. Hence, purchasing health insurance for your sister will provide the utmost protection to her health, and immediately send you to the top of her ‘favourite brothers’ list!

Why Should You Purchase Health Insurance?

It is crucial to have one’s health insured in these uncertain times as it provides for the following benefits -

• ●Huge Hospitalisation Expenditure - The main advantage of health insurance would be the coverage of expenditure prior to and post hospitalisation. Pre-hospitalisation includes the expenses incurred generally a month or two before actual hospitalisation. During hospitalisation, you will have to consider hospital bed charges, ICU charges, surgery fees, and the list is endless. Insurance generally would also cover the costs to be incurred for 2 to 6 months after discharge from the hospital including medicines, tests, etc.
• ●Daycare procedures - These include chemotherapy, physiotherapy, eye surgery, etc. which would be covered by the insurance policy. Expenses of several critical illnesses which require prolonged treatment such as the ones for cancer, paralysis, etc. is also covered.
• ●Free of any transactions - This benefit prevents the insured person from bearing any direct medical expenditure, as the hospital and insurance company clear the bills and take care of the entire procedure.
• ●Premium Paid = Tax Deduction - As per the Income Act of 1961, a person who has availed for health insurance is eligible for a tax deduction to the amount of the premium paid.

Tips for Choosing the Best Health Insurance Policy

Before investing in a health insurance policy, make sure you read the benefits and conditions carefully. You could watch out for these factors -

• ●Coverage - Look out for policies that offer benefits beyond insuring the principal sum. Apart from the sum, the HDFC ERGO policy covers hospitalisation expenses, daycare treatments, home healthcare and pre- and post hospitalisation charges.
• ●Cashless Advantage - HDFC ERGO offers a cashless claim service that will enable the transaction to be much smoother, plus the network of nearly 10,000+ hospitals will help you to avail the services of the policy at your preferred location.
• ●Minimum Conditions - The best health insurance policy would be one with minimum exclusions and waiting period.

• ➢Waiting period refers to the time only after which the expenses of the diseases will be covered.
• ➢Exclusions must be looked into carefully, as during any emergency it would be devastating to find out that the case is excluded by your health insurance policy.

HDFC ERGO provides a waiting period of 30 days after which the sum can be received in the case of Critical Illness, and includes a variety of policies tailored to your specific needs.

• ●Renewability and Premium - Ideally, you must opt for a policy which provides lifelong coverage as well as the best premium at a fair price. HDFC ERGO not only provides for lifelong renewability with break free renewals but also additional benefits on your premium such as refilling the exhausted hospitalisation fund and multiplying the benefit year on year if the sum is not claimed. For instance, in case you do not have any claims in the first year, your sum insured will increase by 50% in the next year. So instead of 5 lakhs, you would be insured for 7.5 lakhs.

Conclusion

A gift like  health insurance  to your sister will be like removing a huge weight off her shoulders as the anxiety surrounding the pandemic is only increasing. Do not let your sister worry about the finances of opting for healthcare services anymore. Do not let her be in a position to choose between her health and her savings. Opt for the most thoughtful and touching present for this Raksha Bandhan which will prove to be a protection and life-saver to your sister in the real sense. ‘

 

Disclaimer:  The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

 

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• Best Women-Specific Health Insurance Plan - The need of the hour
• HDFC ERGO Launches Women Specific Health Insurance Plan
• Factors to Consider Before Buying Women Health Insurance Plan

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