If you have cashless health policy & you get hospitalized, you don’t have to pay 90% of the hospital bill. You also don’t need to have a huge amount of hard cash on you. You just need to submit your cashless card & the hospital will coordinate with the insurance company & get the money as needed.
Your medical insurance policy covers 90% of your medical expenses resulting from your hospitalization for more than a period of 24 hrs. These expenses include diagnostic test fees, doctor’s fee, medicine cost, room rent & at times even certain surgery costs.
Any seasonal illnesses like dengue, malaria, typhoid, pneumonia, covid19 & others are covered in medical insurance. There’s a waiting period of just 30 days. After 30 days you can avail treatment for any seasonal illness.
You or your parents may have some pre-existing disease before buying the policy. Pre-existing diseases are blood pressure, diabetes, heart problems, lung issues, liver diseases, kidney ailments & anything that’s a chronic condition. Depending on your policy, you get cover for these pre-existing diseases after a waiting period of 3-4 years. It’s always better to buy the policy immediately, get done with the waiting period & not wait for an emergency.
If you have a cashless policy, you need not worry about having a large amount of cash during an emergency. Most medical insurance policies also provide ambulance cover and emergency hospitalization expenses.
Whether you meet with an accident indoors or outdoors, you get covered from day one. The only condition is that the accident should require hospitalization. Some policies may also cover surgeries involving an accident hospitalization treatment.
A medical insurance policy offers the policy holder with a lot of tax benefits that fall under the section 80 D of IT Act (income tax act) of 1961. The deduction on taxes offered to the policy holder depends on factors like the premium amount, insured person’s age and many other aspects. Based on these given factors, a policy holder can claim for tax deductions & this can be from anywhere between Rs.25,000 to Rs.50,000.
Without insurance policy, it takes just one serious medical emergency to deplete your life savings. A health plan not only offers you peace of mind but also offers financial security. With the right medical insurance policy, you can avail quality medical treatment without having to break into your savings.
