Health insurance is an agreement between the insurer and the policyholder whereby an insurance company agrees to reimburse for medical costs incurred by the policyholder during the tenure of the policy. According to the policy terms, the insured may incur medical expenses if they get ill or meet an unfortunate accident that leads to treatment at the hospital. To avail of the coverage benefits of a health insurance policy, the policyholder must pay a specific amount periodically, called a premium. The premium is determined by the insurance company and must be paid by the policyholders without any fail either monthly, quarterly, half-yearly or annually.
 

Why Should You Buy Health Insurance?
In today’s uncertain times and with changing lifestyles, you may never know when a medical emergency will knock on your door. To stay protected against such unpredictabilities, it is very important to stay secure with health insurance. There are several other reasons why you should buy this beneficial health plan, some of which are listed below

Rising Medical Expenses

Over the years, the cost of healthcare in India has witnessed a sharp rise so much so that it becomes difficult to access quality medical assistance. It is the increase in the cost of medicines, hospitalisation, medical examinations, and more that have together led to an overall increase in medical expenses. With this rise in medical expenses, it makes all the more sense to buy a health insurance plan that helps you stay protected against such medical emergencies. Depending on your healthcare needs, buy a suitable plan for yourself and your loved ones.
Altering Lifestyle

The current-day modern lifestyle is such that individuals have been exposed to health problems even more. The 9-5 job, eating habits, disrupted sleep cycle, and more have together contributed to an unhealthy lifestyle. Due to the unhealthy lifestyle, a number of health problems such as obesity, asthma, have constantly been rising. Moreover, apart from physical problems, the unhealthy lifestyle has also led to increased mental health problems. Thus, due to all of these reasons, it becomes all the more important to buy a medical insurance policy in India.
Tax Benefits

A plan like health insurance not only protects you from medical emergencies but also provides tax benefits. It is the premium that is paid towards such plans that offer tax benefits under the Income Tax Act of 1961. The tax benefits vary from one group to another, for instance, the tax benefits for senior citizens are higher as compared to the others. Policyholders can avail of maximum benefit of Rs. 75,000 against their policy.
Network Hospitals

Network hospitals or cashless hospitals are those where policyholders can avail of cashless treatment. The number of network hospitals varies from one health insurance company to another. Thus, it is important that you check the availability of network hospitals while buying the plans. With the availability of network hospitals, it becomes easier to avail of quick and cashless claims.
Pre-existing Disease Coverage
Health insurance plans also offer coverage for pre-existing diseases after a specific waiting period. However, if you want to get health insurance coverage for these pre-existing conditions like diabetes, hypertension, and more, you can also buy a plan that offers coverage for pre-existing diseases from the start. You can also check with your insurer regarding the coverage for pre-existing diseases in your mediclaim plan.
Pre and Post Hospitalisation Expenses
With a number of health insurance policies available in India, you will also get coverage for pre and post-hospitalisation expenses. Once you are insured with a relevant type of plan, you can enjoy financial coverage for both pre and post hospitalisation.