Many people make good savings. They constantly do investment. Despite this, they do not consider a health policy as necessary. This is because we do not feel the need for medical insurance or health insurance until everything is going well in life. However, there we cannot predict the future. Sickness does not knock the door.
Many times when a person fall ill, his entire life savings goes into it. Mediclaim proves to be very helpful for you in this situation. Therefore every person should take Medical Insurance. Let’s try to know more about it.
What is Health Insurance:
A health insurance policy is a contract between you and the insurance company. In this you pay a premium and in return the insurance company gives you the cost of treatment according to the amount already fixed in case of any illness.
Benefits of Medical Health Insurance:
1. Lowest Premium:
If you are young and physically fit, then you get a health policy at very nominal premium. When your age increases, the risk of health worsens, accordingly, the health policy premium continues to grow.
2. Income Tax Savings:
On repaying premium of health policy, you can save income tax on premium of Rs. 25000 under Section 80D of Income Tax Act.
3. No Waiting Period:
Most of the health policies have a waiting period. Meaning you can not claim to get the money for the treatment of a disease that is available for a few days after buying a health policy. Generally, the waiting period is 30 days. If you have taken a health policy in your youth, then you will not be required to complete the formalities of the waiting period. When you will need to claim the amount for the treatment in health policy, this period will be completed.
4. Quick Intervention:
You will soon be able to buy a health policy if you are free from anxiety. If you find out that you have a disease and you then go for a health policy then it can be difficult to buy a health policy at that time. You can take a health policy while you are healthy. In fact, today’s health policy is as important as the rest of the things.
If you go to an advisor to make a financial plan, then they first advise you to buy life and health insurance policy. It helps in the treatment of your illness without having to touch your savings according to financial goals. Focus on all options, compare premiums and choose a better health policy for yourself.
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