Health Insurance

What is Health Insurance?

Health insurance is a type of insurance whereby the insurer pays the medical costs of the insured if the insured becomes sick or injured due to covered causes, or due to accidents. The insurer may be a private insurance company or a government agency. The insurance may pay for medicine, visits to the doctor, hospital stays, other medical expenses and loss of earnings, depending on the conditions covered and the benefits and choices of treatment available on the policy.

Why Health Insurance is needed?

A medical emergency / crisis can strike at any time. It can be in nature of an accident or any disease/ illness. With present life style of stress, traveling, long working hours, irregular and unhealthy eating habits, makes us very susceptible to illnesses. Often such medical emergencies are unforeseen and may cause great financial crisis to you. Very often, existing savings, future family goals are compromised to arrange for such medical expenses. Taking an adequate medical and health insurance would help you cover your cost of treatment and hospitalization, other medical expenses and may reimburse you for your lost income during period of recovery. Health insurance is your safeguard against financial impact and stress that accompanies any illness or accident.

How much Health Insurance to take?

How much health coverage you need is not an easy question. Is Rs.1 Lac or Rs.5 Lac sufficient? Its difficult to answer specially since one is not aware as to what and when a medical emergency may arise in future. But when major illnesses happen, it surely does cost a lot. The amount of coverage should be adequate such that you do not need to use your savings and compromise on your monthly expenses or any future goals. And must be sufficient enough to cover for good medical treatment and hospitalization period. One way of arriving at the cover is find the maximum health cover that you can afford after covering for major illnesses, more likely to happen. We advise you to contact your certified insurance advisor to guide you on taking appropriate health insurance cover…

Types of Health Insurance

☆ Individual Policies

☆ Floater Policies

☆ Group Policies

☆ Top up policies

What is Critical Illness

Critical illness health insurance policy must act as a supplementary to main health insurance policy. This kind of insurance policies provides for medical treatment of major illnesses like kidney failure, cancer, Open chest CABG, liver and other major organ transplant and many more. This act as a safeguard as treatment for these diseases can cost you a lot.

Why should I purchase Critical Illness Insurance?

Critical Illness Insurance provides you and your family, the additional financial security on diagnosis of a critical illness. The policy provides a lump sum amount which could be used for:

► Costs of the care and treatment

► Recuperation aids

► Debts pay off

► Any lost income due to a decreasing ability to earn

► Fund for a change in lifestyle.

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