What Is Health Insurance?
Health insurance acts as a protective shield against unexpected and often high medical expenses. By pooling the risk of many individuals, insurance companies offer a routine finance structure, typically through monthly or annual premiums, and pay for healthcare benefits specified in an agreement. These benefits may include the cost of preventive care, doctor’s consultations, medicines, hospitalisation, surgeries, and more.
Benefits of Health Insurance
Offers financial protection against medical emergencies such as illness, injury, or accidents.
Provides access to quality healthcare services without worrying about the financial impact.
Enables cashless treatment in a network of partnered hospitals for policyholders.
Covers routine doctor visits, diagnostic checks, and prescriptions.
Offers tax benefits under relevant sections of national taxation laws in many countries.
Peace of mind, knowing that health expenses are managed, especially for families and individuals with chronic conditions.
Types of Health Insurance
Individual Health Insurance: Covers medical expenses for a single person.
Family Floater Health Insurance: Offers coverage to multiple family members under one plan.
Critical Illness Insurance: Covers specific severe illnesses like cancer or heart disease.
Personal Accident Insurance: Provides coverage for accidents, disability, or death resulting from accidents.
Senior Citizens Health Insurance: Tailored for older adults to manage age-specific medical expenses.
Why Health Insurance Matters
Having health insurance means better financial protection during medical emergencies, easier access to hospital care, and less impact on savings or financial stability. As healthcare costs continue to rise, a health insurance policy becomes essential for individuals and families to ensure their well-being and protect their finances.
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