A medical policy provides financial protection in case of a medical emergency caused by sickness, accidents, or hospitalisation. It provides long-term advantages that make purchasing a medical policy for yourself from top insurance companies like Care Insurance a definite objective in your annual budget.
Indeed, Mediclaim Policy is highly beneficial for you and your loved ones in times of crisis.
Let's look at the 6 benefits of purchasing a policy that would cover you against illnesses or injuries:
The Cost of Hospitalisation
One of the essential features of a medical policy for self is that it covers hospitalisation costs, whether due to an accident or illness.
● Hospitalisation for Illness - Medical insurance covers expenses incurred while receiving treatment in a hospital for any illness. Any treatment-related costs are included in the covered expenses.
● Daycare Costs- With the evolution in technology, many procedures no longer necessitate overnight hospitalisation. Medical insurance plans are meant to assist policyholders in such situations and cover treatments that do not require traditional hospitalisation.
● Alternative Treatment- Not everyone likes allopathic treatment these days, and certain illnesses can be effectively treated with alternative medical treatment methods, including Ayurveda, Siddha, Unani, and homoeopathic. A few medical insurance plans also cover the cost of alternative treatments.
Expenses Incurred Before and Following Hospitalisation
When an individual seeks treatment at a hospital, they will be subjected to a series of doctor visits as well as diagnostic tests that must be completed before and after therapy. Certain health insurance plans reimburse these costs.
Medical policy for self, for example, will pay for expenses incurred in the hospital for treatment and expenses incurred before hospitalisation for some time. Once you've been discharged from the hospital, they'll also pay the costs of follow-up visits, medications, and diagnostic testing.
Health Examinations
Medical policy for self is primarily designed to alleviate financial burden in case of a medical emergency. Most medical policy plans provide yearly preventive health check-ups to ensure that individuals are informed of their health.
This is people's life their health enable them to understand and take remedial measures to make lifestyle improvements. This can help insurance companies reduce their damage costs in the long run.
No Claim Bonus
It is a known fact that medical insurance covers medical expenses for people who need to go to the hospital due to illness or an accident. However, it also rewards those who do not need to use the advantages of medical policy for themselves and didn't file a claim during the policy period.
Such people are rewarded by having their sum insured increased without paying any additional premium. A "No Claim Bonus" can be worth up to 100% of the policy's original total insured.
Tax Savings
You are entitled to claim Section 75000D tax deductions, up to Rs 80, under the Income Tax Act on the premium amount paid for self, family, and parents.
There are a plethora of benefits that come with a medical policy. if you are still planning to buy one, don’t delay anymore and cover yourself today to stay protected in the coming years.
Be the first to comment