5 reasons why you should invest in health insurance plans

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Should you invest in health insurance plans? Around 70% of Indians are covered under some form of health insurance via private insurance, government insurance schemes, and social insurance schemes, etc. 

However, despite this around 30% of the Indian population still lacks coverage under any health insurance plans raising the risk of financial hardships for the uncovered in case of hospitalization. 

Therefore, every individual must get covered so that they can have access to the best of healthcare and medical facilities should the need arise. 

The best decision you can take in a post-covid world is to buy a health insurance plan to protect yourself and your family in the case of an unfortunate hospitalization and its related cost. 

So, if you are still uninsured, here are 5 reasons why you should learn about health insurance plans:

Protection against Financial Ruin

This is probably the most important of all because the cost of hospitalization is at an all-time high and it’s only increasing year on year. 

In case an individual doesn’t have any form of health insurance, it could quickly wipe out all of their life savings and even put them in debt, resulting in the financial ruin of that person. 

With a health insurance plan, an individual can get access to the best medical care without having to spend money from their own pockets since the insurance company will take care of the entire hospitalization costs till sum assured, which will allow you to breathe free and avert the risk of financial ruin. 

Gives you Access to Cashless Hospitalization

Most insurance companies have robust ties with hospitals pan India and mostly have their list of network hospitals where people can get access to cashless hospitalization, which can include the cost of surgery, medicines, diagnostics, consumables, non-consumables, etc. 

Always choose an insurer that has the best hospitals on their network to be able to get the best treatment possible without having to shell anything out of your pocket. 

Critical Care Coverage

This is mostly offered as an add-on by different insurance companies. Critical health insurance plans pay out a lump sum amount in case the insured is diagnosed with one of the listed illnesses that fall under the critical illness category. 

While a normal health insurance plan takes care of your hospitalization bills and related expenses; critical illnesses generally require a longer line of treatment and the lump sum amount that one receives as part of the policy can help you pull through with the day-to-day treatment and household expenses, till you are fit to get back to active life. 

Value-Added Services

This is one more important benefit of health insurance plans. Some of the benefits include co-payment waiver, OPD care, reduced waiting period, coverage for pre-existing diseases, among others. 

However, these value-added benefits differ across insurance providers, so do read the fine lines as to what you can and cannot avail as part of these services. 

In-house Settlement

The best health insurance providers have their claim settlement processes so you don’t have to go through a third party to claim benefits. This is crucial in cases of emergency where time is of the essence and quick sanction of the coverage amount is critical to ensure timely hospitalization and treatment to begin. 

In-house claim settlement makes the entire process smooth and fast, allowing you to start cashless treatment at any of the network hospitals within minutes of getting admitted. 

Care life insurance offers a range of comprehensive health insurance plans that are all designed to take care of all the costs related to hospitalization and provide you and your family with the assurance that should things go south, you will get access to the best of healthcare possible. 

Healthcare costs have been going up every year, and some treatment options have gotten so expensive that it’s getting almost impossible to get treated unless you can yourself afford such treatment, or have insurance that takes care of the related costs. 

Not having insurance will only make treatment options get even more unaffordable in the future, so there is no reason not to get one today! 

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