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Health Insurance Plans

Health insurance plans insure you against unexpected medical emergencies and keep your family’s finances stable during such a testing time. Keeping in mind the rising medical costs and spurt of diseases buying a health insurance is mandatory. A medical emergency can knock anyone’s door and impact a person both emotionally and financially. As a result, financial advisors suggest that it is prudent to buy health insurance plan and health care policy early in life.

Why should a person invest in Health insurance?

  1. Company health cover: With ever rising medical costs, the importance of health insurance policy cannot be overruled. The cost of a day’s hospitalization for a regular ailment is always on the higher side and if person has a company health cover it’s not sufficient as many things are not covered. If a person retires or changes a job, then the corporate health plan will cease to exist. Therefore it is more important to buy an individual health plan.
  2. High Incidence of Life Threatening Diseases: Life threatening diseases are on the rise in modern India. Mostly this has been observed in the age group of 20-45. Most of them are related to Heart or other organ aliments. With newer diseases like Swine Flu, Tamin Flu, Nipa Virus, Dengue malaria outbreaks it is become even more important to have an Individual health policy in hand.
  3. Tax Benefits: Investing in health insurance for self and family, the investor gets a tax benefits under Section 80D of the insurance act. If the Investor is a Senior citizen there is deduction in premium as per the govt plan.
  4. Money’s Worth: These plans ensure a person is protected all through his life for pre-hospitalization; post hospital expenses and whatever expenses occur while his stay in hospital.