1800 2666
Live Chat
Change Please enter Captcha
x
x

Please enter your details

Please enter the name
+91 Please enter the mobile number
Please select the product
Change Please enter captcha

Live Chat

May I help you?

Begin Chat
article
Insurance Article

Does Health Insurance Really Benefit Your Family?

May 26 2015
  • Meeting Rising Healthcare Costs
  • Increasing costs in the healthcare sector over the last few years are pinching the Indian pockets. According to a report by the National Sample Survey Office (NSSO), India's per capita out-of-pocket (OOP) expenditure towards medical costs has gone up by 60% from 2005 to 2010. The per capita spending on medicines and hospitalization costs has also increased twofold over the same period.

    In such a scenario, a comprehensive health insurance plan helps curb your expenses by covering costs due to hospitalization, diagnostic tests, doctor consultation, expensive medicines, as well as post-hospitalization treatment.

  • Availing Cashless Hospitalization
  • Most insurance companies provide a facility of cashless hospitalization where you can avail treatment at a network hospital (that has a tie-up with your insurer) without paying cash to the hospital. Your insurance company will settle the costs directly with the hospital; however, prior authorization is required from the concerned Third Party Administrator.

    This service is helpful when you are unable to organize short-term funds or if you fall ill in a city where you can't arrange for immediate funds. Cashless hospitalization reduces stress and gives you access to the best healthcare services easily.

    avoid-a-financial-crunch Claim medical expenses or go the cashless way
  • Treatment in Top Healthcare Facilities
  • Availing Tax Benefits
  • You can avail tax benefits on the premiums paid for a health plan. The following changes have taken place according to the budget for the year 2015-2016, Section 80D of the Indian Income Tax Act:

    • Allows a rebate of up to Rs. 40,000 per individual
    • Tax rebates of up to Rs. 15,000 when purchasing medical insurance for your family
    • Tax rebates of up to Rs. 20,000 if the purchaser is 60 years and above
    • Additional rebate of up to Rs. 15,000 when purchasing medical insurance for your parents
    • This return increases to Rs. 20,000 if your parents are senior citizens (60 years and above)
    claim-medical-expenses-or-go-the-cashless-wayAccess to cutting edge medical equipment

    Compromising on your health or wealth is a major risk. A well-tailored health insurance plan safeguards you against unplanned expenses and gives you peace of mind. Ask your insurance company for any additional benefits they provide. Choose the best options that suit your income and your family's needs.





    Write a review