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All About Health Insurance

20 November, 2015

These insurance policies offer protection against unanticipated medical expenses and help maintain financial stability of the policyholder. Increasing medical costs and rising instances of critical illnesses makes it crucial for people to avail health cover.

1. Reasons to Buy Health Cover:

• Corporate health cover is inadequate and unlikely to cover all expenses in case of hospitalization.

• There has been a dramatic rise in lifestyle diseases like diabetes, cardiac disease, and cancer among young adults aged between 26 and 35 years. Most of these conditions are life-threatening and treatment can be unaffordable.

• Medical emergencies can occur without warning, which is why it’s important to have some savings kept aside. Health insurance coverage is a part of such financial planning or saving, but is a lot more effective. With health coverage, you will be able to get the best treatment, irrespective of the cost.

• The premium paid on your health insurance policy up to INR 25,000 is exempt from taxation, under section 80 D of the Income Tax Act.

• Modern health cover includes more than just essential medical care. Daily cash allowance, post-hospitalization expenses, and maternity coverage can be included within the basic plan.

How Health Cover Works:

• Cashless: Every insurer provides a network of hospitals and nursing homes with direct billing arrangements. The admissible claim in these facilities is paid directly by the insurance company making it more convenient for policyholders. The insured will however, need to pay those expenses that are beyond the gambit of the health insurance plan.

• Reimbursement: If you are admitted in a facility that is not within the insurer’s network, you will need to settle the entire hospital bill. You can then submit the original bills and other documents with a claims form to receive reimbursement of the admissible amount.
Royal Sundaram’s health insurance policies offer the greatest benefits and policyholders are assured of speedy settlement of claims. The Lifeline health insurance plan offers cashless hospitalization, daily cash allowance, and a wide range of optional covers to maximize your protection.