Health Insurance

How Health Insurance Can Benefit You


In today’s day and age, medical emergencies are a major concern. Since the pandemic, everyone has been concerned about their families. Everyone wants to secure their health. And with health insurance, it is possible.

Health insurance can save your family. It offers you better treatment and facilities. It also keeps you from burning a hole in your pocket. Mediclaim Plan Health Insurance is a modern-day tool that helps you feel secure in times of crisis. You can get treated in super speciality hospitals as well!

Many are still hesitant to buy health insurance today. The primary reason is the huge paperwork and many terms and conditions. On top of that, there is a lack of awareness of the benefits of health insurance. But we can see the declining health of people and the rising cost of treatment. Mediclaim Plan Health Insurance can save you from costly treatment. Thus helping you manage huge hospital bills. This article will help you make a wise decision.

There are many benefits of health insurance. You can select from a variety of policies. Know how a Mediclaim Plan Health Insurance can be a lifesaver for you. Speak with a health insurance agent to learn more. Or, read to know complete details.

Here’s a list of benefits of health insurance in 2022:

  1. Comprehensive Health Coverage
  2. Cashless Treatment
  3. Exemption from Taxes
  4. Everyday Inflation
  5. Modern-day Lifestyle
  6. Increasing Savings
  7. No Claim Bonus

Comprehensive Coverage

Comprehensive medical insurance provides extensive coverage. It covers all troubles with a lifetime renewability option. You don’t have to buy various health insurance to secure yourself and your family. Comprehensive medical insurance covers a wide range of medical costs. Unlike a basic health insurance plan, this covers various medical expenses. Some covered therapies include organ transplants, painful medical procedures, alternate treatments, and more.

Without worrying about hospital charges, you can undergo vital treatments as all hidden costs are taken care of. 

Benefits of Comprehensive Coverage:

  • In-patient Hospitalization
  • Daycare Procedures
  • Organ Donor Fees
  • Annual Checkups
  • Add-on Covers
  • Cash Cover
  • Pregnancy Cover
  • Pre & Post Hospital Costs

Cashless Treatment

It is complex and nerve-wracking to run after an insurance firm to recover the cost incurred from your pocket. This requires added hard work. It would help if you don’t have to deal with tons of paperwork, from hospital bills to forms to certificates. Cashless treatment is one of the great benefits of health insurance. Therefore, you need not pay out of your pocket.

Many major hospitals are associated with health insurance firms. Hence, it is easy for you to get treated in any big hospital. 

Exemption from Taxes

Health insurance benefits are not just for saving money on hospital bills. They also come with tax help. The premium you pay gets a tax benefit. Section 80D of the Indian Income Tax Act provides the use.

The premium paid against your health insurance is deducted from your taxable income. This drops your taxable income.

Everyday Inflation

Medical costs have risen since COVID-19. This has made hospital costs and premium costs high. Medical expenses can dry up your savings fast if you are admitted without health insurance.

The best way to cover the rising cost is to buy early. If you are starting your job, you should plan. Mediclaim Plan Health Insurance is a modern-day tool. Like all other investments, ensuring your family’s health is an investment for tomorrow.

Modern-day Lifestyle

Health problems are not restricted to basic colds & coughs. Everyone is prone to various conditions, from newborns to adults. Mediclaim Plan Health Insurance can help you secure your future. Everyone believes in investing in the future. Investing in tomorrow’s health is wise.

Age does not matter. Today, many young people are suddenly falling sick. You should be ready to face any challenge.

Increasing Savings

People still believe health coverage is an unnecessary expense. But knowing the benefits of health insurance will enlighten you. It will save you money, and time.

Saving on Medical Costs: Medical costs are rising every day. Having health insurance covers you from spending your savings. Essential hospital cost has sky-rocketed in the last couple of years and is still rising. If you do not have an investment plan to take care of the medical costs, you might spend all your life-long savings on it. Cover yourself with a suitable health insurance plan.

Retirement Planning: It secures you after retirement. Income sources are falling, and medical costs are rising. Health insurance will cover you in medical crises. It will keep your savings intact. Starting health insurance early can help you plan for the future. Thus, protecting you from medical bills.

No Claim Bonus

Suppose you have insured yourself with health insurance. But have not claimed it in a year. Then the health insurance company offers you a No Claim Bonus (NCB). It is equivalent to getting a reward for not claiming your health insurance.

There are two significant ways how companies offer you a No Claim Bonus:

  • Higher Insured Sum Amount
  • Discounted Premium Rates

Final Words

There are many more benefits of health insurance. A health insurance plan will assure you to lead a stress-free life. A mediclaim plan health insurance will help you feel secure in times of emergency. Taking health insurance is not a loss at all. The crisis is handled with ease.

The hospitals have tie-ups with health insurance firms. Therefore, your out-of-pocket expense is reduced. You will benefit a lot from health insurance. 

Piramal Finance has observed the ever-increasing out-of-pocket expenditure on health. It is offering you tips on how to reduce it. Know more about banking, insurance, and finance with experts from Piramal. You can also get a personal loan at Piramal with the best interest rate. Contact the experts for your personal loan needs.