It is said that a healthy mind resides in a healthy body. Hence it is very important to stay healthy. These days life is very fast and stressful. No matter how much you care one can always fall ill.
Health treatment nowadays is very costly. More than the disease it is
the cost of treatment that takes its toll. To get rid of health worries
health / medical insurance is the answer. Health insurance policy not
only covers expenses incurred during hospitalisation but also during the
pre as well as post hospitalisation stages like money spent for
conducting medical tests and buying medicines. The cover will be to the
extent of the sum insured.
An added attraction of Mediclaim policies is the tax benefits which
they attract under Section 80D. The maximum amount of deduction
available under this section is Rs 10,000. In case of senior citizens,
the maximum limit is Rs 15,000.
Individuals also have the option of covering themselves for medical
expenses by opting for the 'Critical Illness (CI)' rider available with
life insurance policies. Life insurance companies have their own list of
critical illnesses as defined by them. In case of a CI rider, on the
occurrence of a 'critical illness' during the policy tenure, an amount
as proposed in the policy will be paid out to the individual. This is
irrespective of the expenses incurred by the individual on
hospitalisation, medicines and other such costs.
Health insurance companies are offering innovative products to their
customers these days. The latest product in this line is 'cashless
hospitalisation'. Here individuals do not have to pay for their hospital
bills in case of hospitalisation; the insurance company settles the bill
directly. But certain conditions like the hospital needs to have a
tie-up with the insurance company, the documents need to be in order
etc. have to be met.