What Is Health Insurance?

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Health insurance plan is a policy product which is offered by insurance companies, that cover all costs related to the medical expenses of the insurer which incurred in accident, illness or any types of diseases. Insurance can be bought for an individual person or for an entire family it depends what you prefer. The term of the plan is ideally fixed at one year and in some cases, one can buy the plan for a term of two to three years as well. With health insurance plan in place, one gets entitled to adequate medical help in case of an emergency or in a pre-planned medical expense, without worrying about the financial costs.

Here is how it works

The main purpose of the health plan is to takes care of entire hospitalization expenses subject to maximum sum insured and terms of the policy of the insurer. All the policy plans cover pre and post hospitalization expenses.

There is the best facility available which is a cashless facility under which you can avail the best medical care at any of the network hospitals & all the payment related to your treatment will be directly settled by the insurance company. In this way, the insured can immediately get treatment without having to wait for arranging the funds and without any of the worry.

Each an every person in their life should have perfect Health Insurance policy which protects your health and provides financial security for medical emergencies when needed without any worry. Whether you go for individual health insurance or family floater plan, there are certain conditions you need to fulfill which make you eligible for health insurance policyholder:

Age Criteria

Health Insurance Policy for Adults Minimum entry age should be 18 years and there are no maximum age criteria. In some policies, entry age is restricted from 18 to 65 Years.

Health Insurance For Children: Where the entry Age 91 Days to 24 Years. Whereas in some plans, the maximum entry age for a child is 25 years.

Health Insurance Renewal Age For All The Policy Holder: Health insurance plans can be renewed for a lifetime to all the users.

Other Criteria

Further, the health insurance companies want to be sure that you are worthy of being a client and don’t come with more than expected risk for themselves. They have certain guidelines and eligibility based on which they decide to sell you a suitable health insurance plan or even they may reject your application. They check you for:

  1. Lifestyle diseases
  2. Smoking/drinking
  3. Pre-existing Diseases

Importance of Health Insurance

Protection of Health

Health insurance policies not only come to your aid at the time of hospitalization, but some of them also help you in getting free medical check-ups and timely medical care counseling. Most people are inclined to get counseling when they know they won’t have to bear the expenses. With expensive doctor visits and prohibitive costs of medical tests, it is obvious that health plan covering such expenses comes as a savior!

Productive Utilization of Own Savings

We save money to pay yearly premiums for health insurance policies. We may not need to use the health policy benefits every year and it may look like a waste of money in the short-term. But the day you need to be hospitalized, all these indirect savings will come to your aid by saving your life and getting you satisfactory medical treatment.

Protection against Rising Health Expenses

While advancement in science and technology has helped in getting better medical care, the cost of such treatments has also gone through the roof. An adequate sum insured with a health plan can help you to get proper medical care, no matter what your financial status is! The insurer takes care of money matters while you can focus on getting the right treatment.

Source of Credit

Not everyone has enough of a bank balance or sufficient cash at home to face medical emergencies. Health insurance can help you buy time to make hospitalization payments. Even if you have to somehow pay from your own pocket initially, due to any reason, you can always claim it back.

 

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