Know the Top Significant Reasons to Buy Health Insurance

Medical insurance policy safeguards you from unforeseen and high medical expenses. Here are the top reasons why it is crucial. Having a health insurance plan that shields you and your family during a medical crisis is vital as healthcare is becoming expensive, especially in private hospitals. Hospitalization and treatment expenses can deplete your finances. The significance of a health plan is unquestionable. 

It involves several facets of healthcare treatment and other costs, which otherwise can be financially draining. The health insurance policy extends tax-saving benefits, along with a comprehensive health cover.

Whether you buy the policy from the website or the LIVMobile App, here are reasons why you should get one – 

Safeguards Savings: 

It is a known fact that Indians mainly depend on their savings when it comes to managing health crises. Having insurance takes care of your finances from getting drained due to a medical emergency. With rising healthcare costs, quality treatment can be very costly. Not having a health plan can lead to a severe loss of savings. But, with a health cover, depending on the inclusions, most of the expenses are covered.

Lifestyle Changes: 

There has been massive changes in the lifestyle of people. Stressful work schedules, commuting long distances for work, poor quality of food, bad eating habits, and increased levels of pollution has exposed out health to various issues. Having medical insurance can help you go for routine health and fitness checkups. It helps to keep your fitness levels up, thus indirectly cutting down on medical expenses.

Coverage: 

Health insurance plans not only provides coverage against hospitalisation costs but also covers other medical expenditures that one may have to pay during, before and post the course of treatment. These include diagnosis expenses, ambulance charges, doctor’s consultation fees, pre and post-hospitalisation expenses, room rent, vaccination, OPD expenses, day-care treatments, evacuation, etc. An insurance plan can cover these costs, which otherwise you would have to shell out from your pocket.

Better Treatment: 

Most of the insurance plans offer cashless medical treatment, where you do not have to pay for the hospital and medical fees. The insurance company will be responsible for settling the bills with the hospital where the treatment was taken. They have a network of hospitals where you can get treated without having to pay a single penny for the medical bills. It helps you to avail quality medical treatment and therapy with zero stress about having to pay substantial medical bills at the hospital.

The Entire Family Gets Covered: 

Purchasing individual online health insurance for each member of the family can be costly. Therefore, insurance companies recommend family floater plans where you can cover your family with a single policy. Most family floater policies cover individual, spouse, children, and parents. A family floater insurance helps you to save on premium amount and provides complete coverage. These plans guarantee that all types of healthcare treatments are covered.

how health insurance works in India

There are numerous reasons to have health insurance plans in India in place. There is a common quandary faced by people about the right age to buy it. But there is no specific age to have one. However, if you buy it at a young age, you will have to pay less. Premiums for your medical insurance goes up with age which is because of health risk associated with old age.