Why is Health Insurance Important in India?

Living in this fast paced world is becoming increasingly stressful and resulting in major health conditions especially among Indians. Millions of Indians lose their lives to heart diseases and diabetes, which, according to a report by WHO is the leading cause of death in India. Apart from that, respiratory diseases, birth complications, and infectious diseases are also rampant.

Given that Indians are more prone to serious health conditions, have you considered protecting your family and yourself against these? Rising health care costs may result in financial difficulty.

An excellent way to prepare for such situations is to avail of health insurance policies.

Health insurance coverage

Insurance providers offer different types of plans to maximize coverage and benefits. Some of the coverage includes pre and post-hospitalization expenses, hospitalization costs, day care processes, and domiciliary treatment. Here are two most basic types of health insurance plans in India.

Indemnity plans

These policies will compensate the actual finance that has been incurred. You may avail the entire coverage amount multiple times during the policy term. Below is the list of a few expenses covered under indemnity health insurance.

  •  Hospital room rent
  • Operation theater charges
  • Doctors’ fees
  • Pre and post-hospitalization expenses

Lump-sum benefit policies

These types of health plans pay the entire sum assured if the covered event occurs. For example, if the health plan includes critical illness coverage and you are diagnosed with the same, you will receive the benefits. The objective of such plans is to offer you financial support to meet expenses like:

  • Physiotherapy or other rehabilitation procedures
  • Monitoring devices needed in case of critical illnesses
  • Follow-up medical tests and investigations
  • Dietary supplements
  • Ergonomic furniture or home modifications needed due to your illness

Benefits of health plans

Financial stability

Emergency medical expenses may result in severe financial distress. You may have to dip into your savings or sell your assets to meet such expenses. When you buy a health plan, you are assured of financial stability during an illness.

Best treatment

You may have to compromise on the treatment plan in case of a health condition due to lack of funds. With the best health insurance plan, you have the assurance of procuring the best treatment to overcome any health condition.

Choice of insurance plans

Different insurance companies offer various types of health policies. Opting for the best health insurance available in India may be confusing. HDFC ERGO has a variety of insurance plans. You may avail of a plan that specifically caters to your requirements.

Avail of health coverage so that you may take benefit of all the health insurance advantages because safeguarding yourself and your family against health problems is the best investment you will ever make.

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