The term health insurance is a type of insurance which grants you cover against ever rising medical care costs or expenses, beginning from diseases to grave accidental injuries. Health insurance is a critical monetary product that is a must for every individual irrespective of his or her age, sex or religious specification. It aids you in obtaining the first class treatment without muddling your head much over the financial costs involved.
Benefits of health insurance
Our lives cannot be predicted; hence health insurance helps to make it secure and protected from handling mammoth financial hammering. It not only helps you in dealing with severe emergencies effectively, but it also beneficial in dealing with disability and custodial needs.
Health insurance as a concept is new in India, however it is catching up speedily. Its responsiveness has been massive in the last couple of years. This is due to the response to the series of qualms, worries and suspicions people have observed in current times such as terror attacks and so on.
In brief, a health insurance is a contract signed between an individual and an insurance company.
One must note in advance, the amount and type of health care expenses that will be covered under a health plan. Based on the terms and condition of a health insurance policy, it covers major and at times all part of medical expenses which includes medications, nursing expenses and doctor’s consultation charges. Treatment can be obtained from any authorized hospital or medical organization across India.
Health insurance in India can be purchased in two available formats: individual and group plans. In an individual policy, he or she is himself or herself the owner of the policy, whereas in group policy, the guarantor or the sponsor purchases the policy and the beneficiaries covered under it are labeled as its members.
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