Benefits and Features of Health Insurance

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Benefits and Features of Health Insurance


For treasuring well being one must have a comprehensive health policy. From individual to family floater plan, all come with some features and benefits; let’s check a few major covers-
Cashless treatment - Every insurer displays a network of hospital where when treated the insured does not require to pay a penny from his pocket unless it is a voluntary discount case.
Pre and post hospitalization - Under the medical plan in India, the insured is paid for the pre and post hospitalization charges which include tenure of 30 to 60 days depending on the insurer.
Ambulance charges - The policy holder is free from burden of transportation or ambulance charges.
Pre-existing disease cover -After a waiting period of 2-4 years, various policies offer a cover against the pre-existing diseases -e.g. - diabetes, hypertension etc.
No Claim Bonus - NCB or no claim bonus is a benefit provided if the insured does not claim for any treatment in the previous year. Benefit could be in any form, either an increment in the sum assured or a discount in premium.
Medical check up -Free check up is provided by few insurers if there is a good history of no claim bonus.
Tax Benefits - If you are paying premium for medical policy then you are liable to get tax rebate under section 80D of Income Tax Act for a maximum value of – Rs.15000 for regular and Rs.20000 for senior citizen.
Co-Payment - Providing you option to cut short your premium amount, medical insurance offers co-payment option wherein there is a define amount of voluntary deductibles mentioned in the policy which are paid by the insured. So in case of treatment, some amount is paid by the insured and rest by the insurer.
Critical illness cover - You can extend your cover by opting for critical illness or various riders depending on your age and medical history of your family.

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