The penetration of health insurance in the Indian market is too low. Even the numbers are increasing gradually, there's a huge untapped market. The government along with some private companies are trying to increase the reach of health insurance by various campaigns, but that surely will take some time and immense efforts. There are several reasons why health insurance is not a well-know thing in India. First of all, most rural populations and emerging markets have no clue of the importance and benefits the product offers, and secondly, the premium policies come at a higher price, which is inaccessible for the poor and deprived. Also, unlike western countries like the US, health insurance is not mandatory in India due to which people skip buying it.
Let's think about the entire situation again and understand why health insurance is important and what consequences you can face if you don't have a health insurance policy. Not having a health insurance plan exposes you to a serious financial risk as your medical expenses remain uncovered. No matter how fit you are there is always a chance of acquiring diseases that you never thought of. Due to increased population, unhealthy eating habits, and a stressful lifestyle, we are more exposed to life-threatening diseases than ever before. Apart from this, there are also chances of facing accidents that can leave you on a hospital bed. All the mentioned situations are totally unpredictable and may easily drain your life-time savings in a moment. It sounds like a tough situation. Isn't it! Well, you don't have to worry at all when you have a health insurance policy at your bay.
A health insurance policy can cover more than 1 person at a time. With a family floater plan, you can get your family members covered in the same health policy. The coverage in a health insurance plan includes- pre-and post-hospitalization expenses, daycare procedures, domiciliary treatment expenses, room rents, donor expenses, etc. Health Insurance not only pays for your medical expenses but also gives you tax saving opportunities under Section 80D. You can get a tax exemption of up to Rs. 75000 under section 80D when you buy a health insurance policy.
All points discussed few people give the excuse of having employee group health insurance cover. They feel that having a basic group health cover can take care of their medical finances, which is totally wrong. A group mediclaim is a very basic type of health insurance plan that does not cover major situations. What is the benefit of having a policy just for namesake? It's high time we start planning these things and stay prepared against any medical emergencies.
You can easily buy a health insurance policy online without any hassle. Just a few details and you are good to go! Have thorough research online and select the policy that suits your needs and medical requirements.
Live a stress-free life with a health insurance policy by your bay!