What is Health Insurance?
Health insurance plan is a product offered by insurance companies that covers all costs associated with the medical expenses of the insured. this will be bought for an individual or for a whole family. The term of the plan is ideally fixed at one year and in some cases, one can buy the plan for a term of two to 3 years also. With a Health insurance plan in place, one gets entitled to adequate medical help just in case of an emergency or during a pre-planned medical expense, without fear about the financial costs.
Here is how it works:
- A health insurance plan takes care of entire hospitalization expenses subject to the maximum sum insured and terms of the policy. All plans also cover pre and post-hospitalization expenses.
- There is a cashless facility available under which you can avail of the most effective medical care at any of the network hospitals & all the payments related to your treatment will be settled from the health insurance company directly. In this manner, the insured can immediately get treatment without having to wait for arranging the funds.
Benefits of health insurance
A health insurance plan is an important part of your financial planning which should be in place for a safe, secure, and healthy life. Reducing health care costs for families requires and increased competition in health insurance. Compare your health insurance companies and get the best policy for yourself and for your family.