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Posted by Royal Sundaram on 02 Feb 2011
Q. Why should I opt for health insurance for my family? We are pretty healthy!
A. Health Insurance is a way of ensuring financial stability during an unforeseen medical emergency.
The cost of medical care is increasing with every passing year. While everyone seems healthy today, no one knows what surprises tomorrow may bring! By availing Health Insurance, you are securing yourself financially, during any emergency. It gives you the power to avoid straining your savings. For as little as Rs. 8 per day, you can get a cover of Rs. 2,00,000/- if you are in the age band – 25 years to 40 years
Health Insurance would take care of the bills, while you take care of your loved ones!
Q. Why should I insure kids at an early age?
A. Our lifestyle has changed dramatically over the years, exposing us to many lifestyle-
Q. How does health insurance work? How will it help me financially?
A. When you take a Health Insurance Policy, you pay an annual Premium, according to the cover you take, similar to a Life Insurance Policy. During any medical emergency, unexpected hospitalisation, surgery, etc, we would pay your bills, easing the financial strain, subject to a maximum as per your Policy.
Consider this. A person avails a Health Insurance with Royal Sundaram for Rs. 5,00,000. If the person renews his policy continuously and needs medical treatment which can be claimed under the policy down the line, say 10 years, then his claim amount could be more than the entire premium that he has paid over that period of time and also he can continue to renew the policy to take care of future medical exigencies.
Therefore, Health Insurance is important for every individual.
Q. What are the things which will be covered under Health Insurance?
A. Royal Sundaram Health Insurance Online will cover the following –
- Cost of hospitalisation in case of emergency
- Room, boarding expense of patient
- Nursing expense during in-patient hospitalisation
- Fees of Surgeon, Anaesthetist, Medical Practitioner, Consultants and Specialists
- Cost of Anaesthesia, Blood, Oxygen, Operation Theatre, Medicines, Diagnostic materials, Dialysis, Pacemaker, Organs, etc
- Donor’s medical expense, in case of transplantation
- Ambulance charges during emergency
These expenses are subject to a maximum amount, which depends on your Policy. There are certain exclusions such as hospitalisation during pregnancy, plastic surgery, mental illnesses.
Please refer to the Terms and Conditions for complete details. You can also talk to our customer support for more information by dialing the Toll-Free No. 1800-345-8899 or 9444 44 88 99.
Q. How much does hospitalisation cost?
A. Hospitalisation costs depends on various factors like the nature of illness for which the person has been admitted, type of treatment, hospital, duration of stay etc. It is therefore difficult to generalisethe hospitalisation cost. However there are broad indicators on ailment/city specific hospitalisation costs. For example, the average cost of a bypass surgery is Rs.3,00,000, hernia is Rs.50,000, cataract is Rs.30,000 in Chennai.
Q. Whom should I take the health insurance for?
A. You should take a Health Insure Policy for all your loved ones! The earlier you avail Insurance; more are the number of benefits you can enjoy, with each progressive year.
Royal Sundaram Health Insurance offers great packages for the entire family. Please click here for more information about it.
Q. How much cover do I need?
A. The amount of cover that a person needs is based on a variety of factors like the number of family members that he wishes to cover, the premium that he can afford etc. Ideally, a person should have a health insurance cover of Rs.2,00,000 to take care of any ordinary medical emergencies that may arise in the future.
Royal Sundaram Health Insurance offers cover from Rs. 1 Lakh to Rs. 5 Lakhs.
Q. Is there any other benefit of availing a Health Insurance?
A. You can claim an Income Tax exemption under Section 80D towards payment of health insurance premium ranging from Rs.15,000 (in case of cover for self and family members) to Rs.35,000 (if parents, who come under the senior citizen bracket, are also covered.
Q. What is the difference between Family Health Insurance and Health Shield Online?
A. Royal Sundaram Family Health Insurance Online has been exclusively designed to cater to the needs of Indian families. You can cover yourself, spouse, children (above 90 days) and parents (up to 50 years). You can renew the Insurance Policy and cover your parents till they turn 70 years of age and your children till they turn 21 years of age(after which, they can opt for individual policy with continuity of benefits.)
Royal Sundaram Health Shield Online is the best suited if you are looking to cover only yourself.
Q. What is the acceptable age group to be covered under Health Insurance?
A. The acceptable age group for Royal Sundaram Health Insurance Online is – 91 days to 50 years. You can insure all your loved ones who belong to this age group.
Please visit Royal Sundaram Health Insurance Online for more information pertaining to our Health Insurance.
S.K Rangaswamy, Head Underwriter (Retail – Health), Royal Sundaram
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