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Buying Health Insurance Benefits Of Health Insurance & Why Do You Need It?

Buying health insurance. Benefits of health insurance and why do you need it? Health Insurance is a basic necessity, not an extravagance

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Buying Health Insurance Benefits Of Health Insurance & Why Do You Need It?

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  1. Why Health Insurance Is Important?

  2. Health insurance is required for each person, bearing in mind the increasing medical costs and the spurt among Indians of lifestyle diseases. A medical emergency can affect anybody, emotionally and financially, at any moment, and impact a person.

  3. 1) Helps In Medical Coverage :- Health insurance is mainly aimed at providing the best medical treatment without any burden on your finances. Health insurance policies protect from elevated medical costs. It includes , in addition to many others, hospitalization costs, day care services, household expenses and emergency charges. Therefore you can focus on your fast recovery rather than thinking about such high costs.

  4. 2)Cashless Treatment :- Most of the insurance company provide cashless compensation services. You may not have to make any out-of-pocket payments under such an arrangement. Hospitalization costs are negotiated by the hospital and the insurer.

  5. 3)Benefits Of Tax :- Under section 80D of the Income Tax Act, the premium charged on a health insurance policy is liable for deduction. The amount of deduction available for individuals is up to Rs 15,000, or Rs 20,000 for senior citizens (aged over 65 years). A further amount of Rs 20,000 is also eligible for exemption in support of the premium charged for dependent parents.

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