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How Health Insurance Can Save Unforeseen Expenses


Dec 23 2020


Today, our society is growing more vulnerable to illnesses and diseases. It is imperative to tackle these situations by having certain backup plans in place. Experts from the financial and medical fields believe that investing in health insurance is a one-stop solution. Health insurance benefits are many and if you invest now, they can come in handy during the future. There are various types of health insurance policies available and people can choose what suits best for them and their family.

Benefits of a Health Insurance Policy

No matter what form it takes, HEALTH INSURANCE BENEFITS are many. It steps in as compensation for unexpected financial expenses that arise from an array of medical conditions. If you are still contemplating on whether to invest in health insurance, here are some BENEFITS OF A HEALTH INSURANCE POLICY you must know about.

  • In an era of escalating costs of medical treatments, and life's unpredictability, the most important of all benefits of health insurance is that it offers financial protection at such times.
  • With several players in the insurance sector, you are at liberty to opt for a policy that suits not only your pocket but also your specific requirements. Pre-existing medical conditions and family history play a valuable role in figuring out what health insurance policy is most suitable.
  • Another one of the many benefits of a health insurance policy lies in the fact that the policy can extend cover to the insured's parents/parents-in-law, spouse and children.
  • The biggest benefit of having a health insurance policy is that it offers you coverage against unforeseen medical expenses in times of a malady. With the right health insurance plan, you no longer would have to worry about medical expenditures like ambulance charges, post-hospitalization expenses, doctor’s fees, etc.
  • Also, you have an option to buy a critical illness rider to your existing health insurance plan or buy a critical illness plan. When you are covered under a critical illness cover, the insurer gives you a lump sum amount so that you can meet all your treatment-related costs and financial obligations.


Who Can Take This Policy?

HEALTH INSURANCE BENEFITS can be availed by almost anyone, there are some terms of eligibility that factor in:

  1. An insurance policy is taken for anyone between 5 to 60 years of age, provided the proposer is 18 years and above.
  2. The IRDA has instructed insurance companies to offer BENEFITS OF HEALTH INSURANCE to senior citizens as well. 65 is generally considered as the maximum entry age and the cover can extend up to the age of 80 or 90 years, based on the individual company policy.


What Does the Policy Cover?

Health Insurance benefits apply to an array of situations, excluding the company's own set of restrictions. As a policyholder, you are entitled to most of these following benefits, irrespective of the health insurance provider.

  1. Cashless transactions during hospitalization across a network of medical facilities, or reimbursement in case of a non-network hospital
  2. Pre- and post-hospitalization charges, and Day Care services
  3. Maternity and newborn care
  4. Laboratory services


Special Features of this Policy

Apart from the health insurance benefits mentioned above, almost all policies offer an Income Tax rebate on the annual premium paid. Certain companies also reward 'No Claim' or 'Loyalty' benefits as per the policy performance in the preceding years.


'Health Insurance' is an umbrella term that covers a wide number of policies, like critical illness policy and personal accident insurance plan. There are many types of health insurance. While each has an exclusive set of exclusions, here is a comprehensive list of situations that are generally not covered by any policy.

  1. Treatment for medical conditions arising from a war
  2. Hospitalization as a result of an attempt to commit suicide, or an act of self-injury

Health Insurance is indispensable when it comes to financially safeguard your family and yourself in case of any eventuality. While the benefits of an insurance policy are many, it is essential to compare and opt for one that serves your purpose in particular as against popular market trends.


Thus, a good, basic health insurance policy can cover many of your medical costs and keeps you financially protected in times of a malady. ManipalCigna ProHealth Insurance plan is one great comprehensive hospitalization plan that can cover you and your family.