Health insurance plays a crucial role in financial planning. While the country is witnessing upheavals in its lifestyle, rising medical inflation and rapidly spreading chronic diseases, it has become imperative for us to choose an insurance policy.
Prasun Sikdar, managing director of Cigna TTK Health Insurance, says: "The health insurance provides the assurance of financial support in case of unforeseen medical and medical requirements. In such situations, an insured person is less likely to tap into his savings for life. That's why 'Jaroori Hai Health Insurance' to protect your long-term financial goals, have permanent access to quality care and help you live healthier lives. "
Another advantage of the health insurance lies in the fact that it also benefits from a tax deduction. As we approach the investment season to save tax for the current year, we are eager to invest before the predestined date, especially for employees, to save on TDS (Taxes). Deduced to the Source). Under section 80D, an individual may claim a tax deduction of up to Rs. 25,000 for the policy purchased for himself, his spouse and his children. Another tax deduction of up to Rs 50,000 may be used for the premium paid on policies if the policyholder's parents are covered. A maximum deduction of 1,000,000 rupees may be used if both persons and their parents are senior citizens.
Experts suggest that in such scenarios, policyholders need to choose the right type of investment not only to save tax, but also to achieve their long-term financial goals. Health insurance is a great option for achieving both of these goals. A health insurance policy contributes to the tax economy, the creation of long-term wealth and its protection against medical emergencies.
Although most people subscribe to health insurance to save their taxes, it also has huge benefits and health benefits. Even after you have taken out group health insurance with an employer, you still need a separate health insurance plan that covers you and your family because it is insufficient to meet current needs.
However, with so many insurance products on the market, we are often confused when we choose the best health insurance policy.
When buying a health insurance plan, look for the following in a plan:
- Choosing the sum insured and the amount of coverage – Always try to choose a plan that offers maximum health coverage and treatment.
- Floating Family Plan – Rather than opt for an individual health plan, choose a family member if you are a family member and thus cover the entire family. You can also cover the parents of elderly citizens in the same way by paying a slightly higher premium.
- Choose plans with a minimum waiting period – Each health insurance plan, especially for pre-existing illnesses, has its own set of terms and conditions for pre-existing conditions. Choose a health policy with less waiting time for pre-existing conditions.
- Renewal Age – While choosing a plan, look for a plan that you can renew even at age 75 or 80.
- An Insurer with a High Claims Settlement Ratio – Opt for a health care plan from an insurer with a high claims ratio, which will ensure that your claim will not be rejected without a valid excuse.
- Carefully examine network hospitals – When buying a health plan, always consider choosing a plan with an extensive network of hospitals.