Raksha Bandhan is one of the most important festivals in India. It celebrates the bond of siblings. On the auspicious day, sisters tie the sacred thread, Rakhi, on their brother’s hand, and the brothers vow to protect them from all odds. It is also the day when the brothers buy a gift to their sisters to express their love and tell her how special she is.
This year, in 2022, Raksha Bandhan falls on August 11th. As a brother, you can keep your promise of protecting your sister by giving her a comprehensive health insurance policy.
In the current times, as the prices of health care facilities are soaring every day, a health insurance plan can help your sister get financial protection against medical emergencies that may occur anytime. Also, with the increasing risk of lifestyle-related diseases like diabetes, cancer, hypertension, etc., a health insurance can come handy in getting quality treatment without worrying about the cost. In other words, a health insurance plan would help your sister avoid facing any financial setback.
Let us look at the benefits of health insurance.
Most insurance companies offer cashless treatment benefits. If your policy offers this benefit, you need not pay a single penny from your pocket for the medical care you avail, provided you get hospitalised in any of the hospitals that are part of the insurer’s network. After you get discharged, you must submit the bills, invoices, and other documents to the insurer, and they will settle the bill directly with the hospital.
Treatment of critical illnesses like cancer, heart attack, kidney failure, can run into several lakhs. If you don’t have sufficient health insurance, you may deplete all your hard-earned savings in one go.
Many healthcare plans, nowadays, cover specific types of life-threatening conditions. Upon diagnosis of the illness, the insurer pays a lump sum amount as per the policy terms. You can use this money for treatment-related expenses and meet other financial obligations.
If your regular policy does not cover any critical illness, you can buy a critical illness cover by paying an additional premium.
As the name suggests, pre-hospitalisation and post-hospitalisation expenses are the ones you may incur before and after you are hospitalised. This may include follow-up visits, diagnostic tests, etc. These expenses can be a significant amount, and your health insurance will cover them.
Apart from covering your medical expenses and protecting your savings, health insurance plans also help you save taxes every year. The premium you pay for health insurance is eligible for deduction up toRs.25,000 under Section 80D of the Indian Income Tax Act.
Now that you are aware of the importance of gifting a health insurance to your sister here are a few tips for selecting the right health insurance plan.
• Choose an affordable plan
When you compare health insurance plans online, you will find many options. So, you can narrow down your choice by shortlisting the ones that have an affordable premium.
• Ensure comprehensive coverage
The whole purpose of buying a health insurance policy is to get protection against medical emergencies. So, look for a plan that offers wide coverage. It should cover the maximum number of illnesses and treatment options.
• Choose cashless benefit plans
Health insurance policies that offer cashless benefits help you get the best medical care at any of the network hospitals without spending a penny from your pocket. This means you need not run from pillar to post arranging funds to pay the hospital bills.
• Choose riders to enhance coverage/protection:
Riders allow you to get additional protection against risks that are not covered in your regular policy. But make sure that you choose the riders wisely as it would increase the premium.
Having a sound health should be our priority, but you never know when a health issue arises. And to help you have an early diagnosis, we at Kotak General Insurance offer annual health check-ups to help you stay fit and fine always. Also, our comprehensive plans are designed to meet any financial crisis arising because of any health ailments. Moreover, having a health insurance plan would assure you that your sister gets the best of healthcare facilities while you can completely take care of her without worrying about the exorbitant treatment costs.
Moreover, if you know and understand the benefits attached to them, it will further amplify your experience and make every journey a wonderful one.
Read More about