Demand of time – Health insurance


Time is never the same. A good time is like sand in the fist. No matter how hard you try to hold it, it is slipping every moment. We cannot judge what future holds for us. It can be as good as a wonderland and as bad as a nightmare. In today’s world when there is no control over anything, be it inflation, pollution, stress, corruption or any national calamity – one may at least exercise a measure of control over one’s financial destiny. Health is the most common reason that leads to uncertain incidents in life. The human body is impossible to study and we never know what is going on inside. We are so busy in other routine activities and tensions of life that we often neglect our body’s signals for health-related issues. You can never know what, when and where a health issue may arise in the form of great physical pain, mental pressure leading to financial insecurity. In India, the health sector is blooming with quick wings with new technology and options from around the corner of the world. But, with the emergence of new technology, there is the hike in the cost of medical treatment. Health insurance is the solution for the same.

Good health is the greatest blessing of human life. Health insurance coverage is recommended from an early age to old age as health problems always come uninvited. Although in India there is growing awareness about the health and health-related issues, a great number of people are still getting affected with small and critical health problems and still they do not believe in taking health insurance. Health treatment in India is so expensive that any health issue not only causes health issue but along with that it causes mental stress and economic decline. Some of the reasons for the sudden spike in medical treatments in our country are high real estate costs, sophisticated and expensive medical equipment, rise in salaries and overhead costs, competition, and consumer behavior to find the best treatment available in the country. But while looking for a health insurance policy one should be aware of all the situation and circumstances under which you can claim the health insurance policy coverage.

Financial coverage is the biggest support that is offered in a health insurance policy to the policyholder against medical emergencies. However, one must keep in mind that the kind of coverage and benefits offered will depend on the sum insured limit. Medical issues not only affect the individual person but it also causes trauma to the family members. With the help of insurance cover, one can obtain support from the insurance company and can easily proceed with the treatment. Taking health insurance is a most secure way of ensuring that one does not lose one’s hard-earned precious savings and current income to hospital bills and prolonged treatment. There are many forms of the health insurance that you can get for yourself.

Basic forms of Health insurance

There are different types of health insurances such as –

1. Individual health insurance plan

Under an individual health insurance plan, only one person is covered for the chosen sum insured. Family members can be enrolled in this plan but a different sum insured has to be chosen for each member. An individual has to pay a premium amount at regular intervals as selected by him/her during the inception of the policy.

2. Family Floater Health Plan

In Family Health Plan, the coverage is customized for families, wherein a fixed sum insured is available for all insured members for one or more claims during the policy tenure. Spouse, dependent children, and parents can be included in this plan.

3. Critical Illness Insurance Plan

The insurer will pay a fixed benefit payout if the insured person is diagnosed with any of the critical illnesses specified in the policy. The lump sum benefit can cover hospitalization cost and act as an income supplement.

Health Insurance benefits

1. Hospitalization Cost

Health insurance policy is very important when the policyholder get hospitalized. With a proper health insurance policy, one doesn’t have to run around every corner and arrange money for the treatment. Even cashless mediclaim health insurance plans allow the admittance and commencement of the treatment without even single rupee expense of the policyholder.

2. Health insurance policies promise quality treatment

It is not easy to live a good life full of all leisure in the world of inflation. People often find a visit to doctor an expensive affair and they cannot even afford immediate surgeries for the treatment. Health insurance policies ensure access to the best treatment plans and timely intervention for the same on a budget only.

Health insurance plans in India can be personalized in order to suit an individual or a group’s requirements. The policyholder can choose a plan or combination of all plans for critical illness, maternity expenses etc.

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