Health insurance is an investment that would be a beneficial option for anyone as it is a protective cover for health. The changing lifestyle demands extra care for the health. The diseases that are being identified are also hard to find a fix for. Even a regular doctor’s visit is not less than Rs 1000. This is why experts state that buying health insurance is one of the best options in the market.
Health insurance should be purchased as soon as one can afford it. Illness is unpredictable and hence it is always better to keep it handy. Through the health insurance, a person can cater to not just their own health but also the dependants. The advantage of buying a health insurance early is that it can help to get them prepared to get the complete cover for all kinds of ailments. Only when the mediclaim process reaches a term of two years, the person would be able to claim for all medical expenses. Another advantage of buying health insurance early is that there are additional benefits of getting additional bonus if the insurance is not used every year. This would enable to get up to 100% coverage for some medical products.
Medical insurance is provided by employers and hence a salaried employee gets the cover for medical expenses as part of taxable income. Apart from this, they can also buy additional insurance for dependents through their employer and get benefits. On the other hand, there are many health insurance companies which extend their services to an independent mediclaim applicant too. The employer would provide for the employee and the nominations of the employee.
It is important to find health insurance policies that cover the entire family. The family floater plan benefits the entire family as it would provide for the family member who would need more medical help even when it is not used for the rest of the family. The hospital stay, the doctor’s fee and all the medical expenses would be covered depending on the product that is bought.
While opting for a health insurance another important thing to note is that the applicant to check on whether the insurance is a direct product or is a third party administrator. This really wouldn’t make any difference in the usage of the product, however when it comes to the claiming process, the applicant should ensure to get all the information required on the way to approach the third party channel. As accidents or getting admitted into the hospital isn’t known ahead, it is better to keep the information at hand. Health insurance can be bought from Government agencies or from private agencies. The applicant should only ensure to get all the required documentation in place and keep it handy.