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All You Need To Know About Health Insurance

Health problems are extremely unpredictable, and when you are living in the middle of a global pandemic, you surely know this very well. The poor health of any loved one can have a negative impact on you and everyone around, both mentally and physically. Additionally, with rising medical costs, one can never be stress-free about the topic of paying off hospital bills. While there’s only so much you can do to prevent health problems, being caught up in one means you do not need the extra stress that comes with high medical costs. In times like these, there is nothing more useful than having a health insurance plan. So, if you haven’t invested in one already, you should do so right away! Here’s all you need to know about health insurance so you can make an informed decision:

  • What is Health Insurance?

Health insurance is a type of insurance policy designed specifically to cover medical costs. It reimburses the insured person in times of need by paying off hospital bills, treatment costs, surgery costs and such. The insured sum is collected through regular premium amounts by the insurer.

  • What are the Benefits of Health Insurance?

Health insurance has multiple benefits for both you and your loved ones. It guarantees to pay the future medical expenses of the insured person. It makes sure your family has much needed financial support in difficult times. Additionally, one of the main benefits is cashless treatment. Many hospitals have a series of networks that can offer cashless treatment to the insured person. In other cases, the sum insured is paid out to the policyholder.

  • Inclusions and Exclusions

Health insurance policies can be customised to add riders for critical illnesses like cancer. However, in any case, you should make sure you pay attention to the documents and have a clear idea about everything included in your policy. Similarly, one also needs to pay attention to everything that isn’t included in your policy.

  • What Are The Kinds Of Health Insurance Plans Available?

Health insurance plans are designed in many different types to give you multiple options to choose from. These include:

    • Individual Plans – These cover the medical costs of the insured person. 
    • Family Plans – These provide coverage to your entire family in a single plan. 
    • Senior Citizen Plans – These specifically cover the needs of senior citizens above the age of 60.
    • Critical Illness Insurance Plans: These are designed to provide for serious health issues like kidney problems, cancer, cardiac arrests and such.
    • Maternity Plans: These cover the hospital costs of the pre and postnatal surgery and care.

Along with these, others such as personal accident plans, unit-linked health insurance plans, etc., are also available.

This should give you the basic knowledge you need to invest in health insurance. Moving forward, you can choose a plan from ICICI Prudential Life and customise it to suit your needs. This insurance company is known to be one of the most trusted ones with a high claim settlement ratio, so you will be investing in good plans.

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