In the last two years, the global outbreak of COVID-19 has increased the medical expenses of everyone. These expenses are necessary to prevent COVID-19 infection. Not everyone can afford to pay for these expresses. Therefore, whether you can afford it or not, you should buy a health insurance policy. Having this policy will make it a lot easier for you to fulfill medical and health requirements of yours. A health insurance policy is just like paying for your other medical bills but you will be paying less and in installments. Otherwise, it is not easy to pay large medical bills in a lump sum. Therefore, having a health insurance policy has also become a necessity. There is not only a single plan available in the insurance market. But there are various different policies that can confuse in choosing the right health insurance policy that will help you in fulfilling your needs. If you are not much aware of health insurance policies, you can go for the Arogya insurance policy.
If you are still wondering whether you need to have such a policy in actuality or not. To make sure that you should be buying such a policy or not, we have brought you a few plus points that can help you in making your decision:
- It will give you financial coverage: As already stated above that the global outbreak of the COVID-19 virus has increased the medical expenses of everyone. It has not only increased medical expenses but has also shut down the business of many people. In such scenarios, it will be very difficult for such a person not to have any income source to pay for their medical and health needs. But if you will be having a health insurance policy then it will become a lot easier for you to pay for such expenses. Now you would be thinking that you will still have to pay for your policy. Let us tell you that you will be paying in installments for your health policy and during any emergency, you won’t have to bear the entire medical bill because the insurer will be there to share your bill and a significant portion of the bill shall be born by the insurer only, say 80 to 90%. This way, you will be having financial security at the time of need.
- Inflation is continuously rising: Another reason to pay for health insurance is the rising inflation. The inflation rate in the medical sector in India is rising at an increasing rate. Such an inflation rate is making it difficult for everyone to afford medical facilities. No matter whatever saving schemes that you have participated in, you won’t able to afford medical facilities easily. But there is one thing that can help you in affording the same. That thing is the health insurance policy. Furthermore, in your policy, you can choose installments pattern as per your comfort, you can for weekly, monthly, or annual installment patterns. You will be able to have your medical needs fulfilled without over-burdening your pocket.
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- You can enjoy tax exemption: The plus points of a health insurance policy do not have any limitation to medical benefits only but it also has many financial advantages. These financial advantages also include tax exemption. There is a section in the income tax act, 1961 I.e. secon 80D. Under this section, if you have paid for the health insurance of your family or parents then you will become eligible to avail of deduction under this section up to 25000 or 50000, as the case may be. If you have taxable income then you would understand the benefit of this deduction.
- You can get affordable policies: If you are of the view that you have knowledge of all the benefits of having a health insurance policy then you might be wrong. Because there are many benefits that might not be in your knowledge including the advantage of affordable policies. Your health conditions will be having influence on the policy installments that being a policy holder, you will be paying. Being fit can help you in enjoying low or average premium amount policies. But in the case of poor health, your premium will be higher. When you are young, you have good health than the health that you will be having later. Therefore, buying a health insurance policy will be more beneficial during your young age. Because your policy premium will be lower due to your good health.
These are the advantages that you can have by having a health insurance policy. However, while choosing these policies, you need to be extra careful such as you need to observe what things are included in your policy and what are not. If you are in the need to buy the best health insurance policy then Care Health Insurance can help you in selecting the same.
