Everything You Need to Know About Health insurance

Health Insurance Article

An insurance policy which covers the medical and surgical charges of the ensured is called a health insurance policy. People generally use the terms Mediclaim and health insurance policy interchangeably. still, while a Mediclaim policy is limited to hospitalisation charges alone, a health insurance policy is more comprehensivegenerally, insurers in India give the following types of health insurance

Hospitalisation Policy Only hospitalisation costs are covered; The individual bears other costs.
Critical Illness Policy A set of destined critical ails are specified in the policy. On the opinion of similar ails, a lump sum quantum is handed.
Family floater Plan ensured and the family members are covered under one policy. The insurer provides a fixed ensured quantum for all the members.

The significance of Health Insurance

Due to diurnal stress and excited cultureshealth has truly come a wealth that people are looking to cover. At the same time, one of the sectors which are witnessing steady affectation is the health care sectorrather of paying hefty bills once you’re tormented with a complaint and hospitalised, you can pay a small decoration to gain an insured quantum. This will also insure that you lead a stressfree life.

Eligibility

In the case of grown-ups, any existent between the age of 18 to 65 times is eligible to gain a health insurance policy. In the case of children, eligibility is between 90 days to 18 timesDo note that the quantum of decoration increases significantly as the ensured grows agedSo, it’s always recommended that the policy is bought at the foremost.

The duty Benefits of Health Insurance

Section 80 of the Income Tax Act provides a host of duty benefits for a health insurance plan

In case of paying decoration for tone or family, a duty deduction of INR 25,000 can be madealso, a decoration paid in case of parents who are below 60 times of age is eligible for a deduction of INR 25,000. In the case of parents or family members above the age of 60 times, an quantum of INR 50,000 is eligible for a duty deduction.
Insurance programs in case of Hindu Undivided Family( HUFs) give a duty deduction of INR 25,000, where, the decoration is paid for the health insurance of one of the members of the HUF.
still, you’re eligible for a duty deduction of INR 5, 000, If you dodge any charges towards a preventative health check– up.

FAQs

In the event you formerly suffer from a medical condition, are you eligible to gain a health insurance policy?
It’s possible to gain a policy though it’s veritably likely that such a policy will have several conditions assessed by the insurer. The insurer may also agree to cover only similar medical conditions which aren’t caused on account of yourpre-existing condition. In some casesdepending on yourpre-existing medical condition which is to be covered, the insurer may contend on a advanced decoration.

How soon are you allowed to file a claim under a health insurance policy?
Once you gain a new health insurance policy, you’ll have to stay for 30 days, since the policy date to be suitable to make any claims. The insurer won’t be liable to make any payments for any hospitalisation or surgical charges during this period, except in case of extremities.

Can you have multiple health insurance programs? How can you claim in case of multiple programs?
Multiple health insurance plans are allowedstill, when you’re making claimsonly one of the insurance programs can be claimed to mileage the cashless benefits. The balance quantum will have to be paid by you, which can be settled latterly with the insurer.

With Liberty General Insurance’s health insurance policy, you’re given cashless medical insurance across an expansive network of hospitals. piecemeal from this, you get a free health check– up after two times of nonstop policy renewal, irrespective of the claims you have made during the sameperiod.However, click then, If you’re a newcustomer.However, click then, If you’re renewing your LGI policy.

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