Benefits Of Health Insurance Policy In 2024

Health is the top priority for everyone. Whether it is you or your loved ones, good health is what everyone seeks in their life. However, you never know what health problems you may have to face and when. Therefore, you should be prepared for all the possibilities that can cause you health problems with health insurance by your side, ensuring protection at every step. 

Benefits Of Health Insurance 

Health insurance is primarily responsible for covering the cost of your bills for medical emergencies caused by an accident, illness or hospitalisation. It comes with long-term benefits, which makes getting an insurance policy an ideal option.

Hospitalisation Cost

The first and most pertinent benefit of getting insurance for your health is that it covers the cost of expenses for hospitalisation, whether it is required to treat accidental injury or illness. 

Illness Hospitalisation

The health insurance policies cover the expenses of hospitalisation for the treatment of any illness. The hospital charges that get covered by the insurance are as follows:

  • Room charges
  • Intensive care unit (ICU) charges
  • Doctor’s fees
  • Diagnostic tests costs
  • Surgery charges 

Accidental Hospitalisation

Any expenses included in the treatment of accidental injury due to a trip and fall in the workspace are covered under the personal accident insurance policies. These include any costs related to the bills of treatment for accidental injury, which include:

  • Room rent 
  • Doctor/ Surgeon fees
  • ICU charges 
  • Diagnostic test costs

Day Care Expense

Various treatments do not require overnight hospitalisation. Several health insurance plans are designed to cover the cost of the treatments without customary hospitalisation in these cases. 

Alternative Treatment 

Allopathy is not the preferable path for everyone. Many individuals seek alternative medicines to treat their health problems, such as Ayurveda, Siddha, Unani and homoeopathy. Some insurance plans also cover the cost of treatment from these alternative medicines. 

Pre- and post Hospitalisation Expenses

For the treatment of a condition, prior to the hospitalisation, you experience various doctor visits and tests done to ensure the exact condition of your health, which can cost you a significant amount of money. 

Also, after the hospitalisation, you are required to pay for the room charges, medicines and other services, which can be covered with the help of health insurance. 

Transportation Cost

The insurance also covers the cost of ambulance transportation.

Health Checkups

The prime role of health insurance is to pay for the expenses of a medical emergency caused by an accidental injury or an illness. However, maintaining good health also requires medical assessments for which certain insurance policies can offer you insurance coverage. Many insurance policies offer yearly health checkups to ensure your good health. 

No Claim Bonus 

Health insurance not only benefits those who are seeking medical consultation for their illness by covering their expenses but also rewards the policyholders who did not claim the benefits of health insurance. The reward includes increasing the insurance cover sum without any additional premium charges. 

The “No claim bonus reward” allows individuals to double the sum of coverage without having to pay any extra charges, which can be a great help in old age. 

Age No Barrier

Health insurance is now available for all age groups. An individual can combine their insurance policies to avail a reasonably large amount of coverage. However, coverage for different ages has certain limitations. Therefore, it is ideal to get health insurance at an early age and renew it accordingly.

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