As one lies on a hospital bed encircled by a team of medical professionals, the person’s thoughts revolve around the looming fear of accumulating medical bills. And this is the last thing an individual in such a state requires. That is where the 10 lakh health insurance comes in as a safety net, ready to catch individuals when they fall. With coverage of up to Rs. 10 lakhs, it provides the financial backing required to receive the best medical care possible.
What is a 10 lakhs medical insurance?
A 10 lakh health insurance policy extends coverage for medical expenses up to Rs. 10 lakhs. In other words, if you suffer from an illness or injury and incur medical-related costs, your health insurance policy will cover up to Rs. 10 lakhs of those expenses.
For example, suppose you have a 10 lakh health insurance policy. You need to undergo surgery that costs Rs 5 lakh. Your health insurance policy will cover the entire surgery cost, up to Rs 5 lakhs. If you have any additional medical expenses, such as post-surgery care or follow-up doctor visits, your health insurance policy will cover them as well, up to the policy limit of Rs 10 lakh.
How does the 10 lakhs health insurance plan work?
A 10-lakh health insurance policy functions through its features designed for well-rounded support for healthcare:
These healthcare policies provide a substantial coverage amount that can help you meet various medical expenses, including hospitalisation, surgery, and critical illnesses.
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Protection against rising healthcare costs
Medical inflation in India is on the rise, and healthcare costs are increasing rapidly. A 10 lakh health insurance policy can adequately protect against these rising costs.
When you secure a 10 lakh health insurance policy, you can be confident that you and your family will have financial security during medical emergencies.
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Access to quality healthcare
Such policies can give you access to quality healthcare facilities and hospitals, which can help you receive timely and proper medical treatment.
How to purchase 10 lakhs health insurance online from ICICI Lombard?
Buying a ₹10 lakh health insurance policy online from ICICI Lombard is simple:
- Visit the official ICICI Lombard website and navigate to the health insurance section.
- Enter your details such as name, age, gender, and coverage type (individual or family).
- Choose the sum insured as ₹10 lakhs and select any additional riders or features you may need.
- Compare plans if multiple options are available.
- Proceed to payment after reviewing your premium and benefits.
- Submit the necessary documents, and once approved, your digital policy will be issued instantly.
Online purchase often comes with added benefits like premium discounts, faster processing, and easy documentation.
Benefits of 10 lakh health insurance policy
Key benefits of 10 lakh health insurance are:
A Mediclaim policy for Rs. 10 lakhs offers a no-claim bonus to those who refrain from submitting any claims during the policy tenure. The earned incentive can be a premium discount or an increase in the sum insured.
A 10 lakh health insurance policy offers cashless hospitalisation, which means the policyholder doesn’t have to pay for any medical expenses upfront. The policyholder can receive medical care at any network hospital in or outside his/her city without spending any cash.
A 10 lakh health insurance plan offers tax advantages under the Income Tax Act’s Section 80D. Policyholders can lower their taxable earnings by up to Rs. 25,000 on the amount spent towards medical insurance policies.
Inclusions and exclusions of 10 lakh health insurance
The coverage of 10 lakh health insurance includes:
A 10 lakh health insurance policy provides coverage for hospitalisation expenses, including room rent, ICU charges, and surgical fees. This policy covers pre- and post-hospitalisation medical care expenses for up to the given sum insured.
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Coverage for critical illness
These healthcare policies cover cancer, heart attack, kidney failure, and other ailments if you supplement your primary healthcare policy with a critical illness rider.
A health insurance 10 lakh policy may extend coverage for ambulance charges that include transportation to the hospital in the event of an emergency.
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Coverage for daycare procedures
As a policyholder, you will receive coverage for expenses related to daycare procedures, including dialysis, chemotherapy, and other medical treatments.
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Alternative treatment coverage
Such policies extend coverage for alternative medical care, such as Ayurveda, Homeopathy, , and others.
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Coverage for pre-existing diseases
A 10 lakh health insurance policy extends coverage for pre-existing diseases, including diabetes, hypertension, and others.
A few things are excluded from this health insurance policy, such as:
- Cosmetic and dental procedures
- Injuries due to self-harm or substance abuse
- Non-medical expenses (gloves, syringes, etc.)
- Experimental treatments
Factors determining the premium on 10 lakhs health insurance plan
Several factors affect the premium of your ₹10 lakh health insurance policy:
- Age of the insured: Higher age generally means higher premiums.
- Number of members: A family health insurance plan for more members costs more than an individual policy.
- Medical history: Pre-existing conditions can increase premiums or lead to waiting periods.
- Lifestyle habits: Smokers or individuals with risky lifestyles may face higher rates.
- Geographical location: Premiums can vary based on the city or zone you live in.
- Riders/Add-ons: Adding features like critical illness cover, maternity benefits or room rent waivers can increase the premium.
Conclusion
A 10-lakh health insurance policy is a smart way to protect yourself and your family against rising medical costs. If you are buying it as an individual or as part of a family health insurance plan, the substantial coverage amount will make sure that you have peace of mind and financial protection during emergencies. With easy online purchase options through insurers like ICICI Lombard and comprehensive benefits, this plan is an ideal choice for modern Indian households aiming for quality healthcare without compromise.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It is not intended as a substitute for professional advice, diagnosis or treatment. Please consult a certified medical and/or nutrition professional for any questions. Relying on any information provided in this blog is solely at your own risk, and ICICI Lombard is not responsible for any effects or consequences resulting from the use of the information shared.