5 Benefits of Health Insurance Plans

5 Benefits of Health Insurance Plans


What is health insurance?

A health insurance or health insurance policy is a contract or contract between an insurance company and a policyholder with the intention of protecting against costly and unexpected health costs. Although policyholders pay monthly premiums, co-payments, co-insurance (deductibles), and deductibles (which is the part to be paid by the policyholder), it is expected that this total out-of-pocket payment is much higher than the cost.

1.And above additional protection

Many groups cover their employees with a group insurance plan. However, such policies are not tailor-made to suit everyone’s needs. In addition, you may be left without insurance in case of job loss or employment change. To protect yourself against such an incident, personally buy health cover.

2.Cashless claim benefit

Health insurance facilitates cashless claims in emergency medicine and planned hospitalization. That is why the insurance providers can get the treatment done without any out-of-pocket payment in the empaneled hospitals on behalf of the company. The insurance company will settle the claim directly with the hospital.

3.Emergency health protection

At present, medical emergencies can arise anytime like unexpected coronavirus outbreaks. In addition, due to changing lifestyles and increasing stress levels, people now suffer from very serious diseases. People can get stressed and worried for many reasons. Anything can happen in life. At such a time, you have enough money for medical treatment and you do not have to take stress for this, for that it is necessary to have appropriate health cover. Investing in health insurance at the right time brings a sense of security and it prepares you for a better tomorrow.

4.Medical expenses cover

At the time of hospitalization and advanced treatment, health insurance works as an economic shield for the person. In such a difficult time, it saves your savings. Health cover ensures that you get cover for daycare expenses, medical expenses, ambulance expenses, and post-hospitalization expenses. Apart from this, if you have the appropriate health cover then you can get better medical treatment anytime and anywhere.

5 Benefits of Health Insurance Plans

1.Group Mediclaim

Group medical plans are becoming very popular among small and medium-sized companies. Group Mediclaim Plans are given by an employer to its employees. Through this type of health insurance, an employer keeps his employees connected to the company. The group mediclaim consists of both the employee and the owner of the company. Giving group mediclaim health insurance to employees gives companies a tax rebate.

2.Unit Linked Health Insurance Plans

In the type of health insurance, in Unit Linked Insurance Plan (ULIP) you get the benefits and savings of security in a single plan. The biggest feature of Unit Linked Insurance is that it offers a better life cover advantage over traditional wealth creation tools. In this type of health insurance, your money also increases at the same time. A part of the premium paid in this type of health insurance is levied in the stock market and you are given health insurance coverage along with an offer. However, what returns you will get on the money invested in the stock market depends on the move of the stock market.

3.Family Floater Plan

This type of insurance covers the whole family through health insurance. Under the family floater plan, you can get health insurance for the whole family. Its fixed amount is divided equally among the entire family. You have to pay a lower premium on a family floater plan than a personal health insurance and mediclaim policy. This type of health insurance is what makes it special.

4.Personal Insurance

In this type of insurance, personal insurance covers just one person. Under this type of insurance, you get the entire cost of hospitalization. Under this policy, a person can claim the payment of the prescribed basic insurance amount. Health insurance of the same person is done under personal insurance. For example, if you have taken personal insurance of one lakh, which includes your wife, then both of you can claim an amount of 1-1 lakh.

5.Mediclaim Insurance

Mediclaim insurance bears the expenses incurred till your hospitalization due to illness or hospitalization due to an accident. This type of medical insurance covers nursing charges, surgery expenses, doctor’s fees, oxygen, anesthesia expenses. This type of insurance is also known as Mediclaim Policy. It is available in the market as Group Mediclaim.

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