Have you been making healthier dietary choices, sleeping on time, taking walks, or hitting the gym to maintain your health? If so, praises are in order because we know how important it is to look after our health.
Well, that’s how you maintain your physical health, but what about financial health that can witness a toll if a health emergency strikes?
Ergo, if you are looking to maintain your physical and financial health in future then investing in health insurance is the way to go. Moreover, if you are health conscious then you might be aware of how expensive healthcare can be, especially if you fall ill and end up in the hospital. But the good news is, you can fight expensive hospital bills with health insurance, thus giving you more reasons to invest in one. Read on to learn more about health insurance before buying it.
What is Health Insurance?
Health is a promise that shouldn’t be taken lightly which is why health insurance is a legal arrangement between the insured and the insurance provider. It helps you cover health emergencies such as illness or injury, pay for hospital bills, consultation fees and much more. With health insurance having your back, you can focus more on staying healthy, be with your family in time of need and fret less about the expenses.
Types of Health Insurance
Your health influences a lot of aspects of your life and the people involved in it. As a result, health insurers offer you a range of health insurance to choose from and safeguard you and your loved ones. Below you can learn about some common types of health insurance you can buy cover for.
- Individual Health Insurance: As the name implies, you can purchase individual health insurance for yourself. parents, siblings, children, partner, and/or yourself. You are eligible for coverage under individual health insurance up to the sum assured for each insured member.
- Family Floater Health Insurance: Given how cost-effective the concept is in the current economy, nuclear families are now the trend. A family floater also constitutes the best option if you are looking for less expensive health insurance for your immediate family, which normally consists of your spouse, kids, and occasionally your parents and in-laws. For instance, if you purchase a family floater for yourself and your child with maximum coverage of Rs. 10 lakhs, you can file a claim for up to Rs. 2 lakhs for yourself and Rs. 8 lakhs for your child within the first year of the policy’s term, or the other way around. Though, the coverage amount varies from person to person.
- Senior Citizens Health Insurance: The average human lifespan has increased over time, which is not surprising given the advancements in modern technology and healthcare. As a result, the older generation is living longer due to an increasing life expectancy. But it goes without saying that as people age, their susceptibility to illnesses and diseases grows as well. So, senior citizen health insurance is necessary to pay for the hospitalization, treatment, medication, etc. of older adults. Therefore, getting older people covered under this coverage will greatly benefit them since they require frequent consultations with medical professionals.
- Critical Illness Insurance: You won’t be shocked to find that kidney stones, cancer, and other conditions such as these are diagnosed in a large number of people in today’s world. This is why for those who are diagnosed with such critical illnesses, it would be wise to consider purchasing critical illness insurance. Critical illness insurance can be purchased as an independent plan or as a rider.
- Group Health Insurance: Are you an entrepreneur or a startup looking to provide health insurance for your employees? Then getting group health insurance will do the trick for you! By purchasing this type of insurance, you can purchase coverage for a handful of individuals. It aids in covering essential medical costs and is frequently favored by businesses to provide extra benefits to employees.
Each one of us should invest in a health insurance policy as a safety net to protect both our own and our families futures. When a family’s primary earner becomes ill and is hospitalized, the other family members may find it difficult to bear the responsibility of paying for their care. However, you can prevent such incidents by purchasing health insurance, which will enable you to live stress-free while being ready for any future medical emergencies. So, what are waiting for, get insured today!