Health Insurance
With the changing times, health issues have not only increased but have turned more and more complex. Other than that, the medical costs have also escalated, which can leave you in an awful situation if you are not prepared in advance. Thus, having a health insurance plan is a must for every individual.
These are some of the leading reasons for an increase in demand for health insurances. A health insurance plan is a smart investment plan if chosen wisely. It sufficiently fulfills all the requirements along and provides good coverage.
What is Health Insurance?

A health insurance is a type of insurance plan that covers the medical and surgical expenses of an insured individual. The incurred expenses are compensated either to the insured individual or paid directly to the healthcare provider. One can get coverage for terminal illness expenses, surgical expenses or hospital expenses depending on the type of health insurance plan they choose.

Policy Market’s health insurance covers all kinds of critical illnesses such as cancer and health, with options like the family cover and return of premium. In our health insurance plan, the policyholder receives a lump sum amount on diagnosis of a terminal or critical illness. We ensure that every individual is able to compare and find the best insurance plan.

It is important that you compare healthcare plans online before buying a specific health insurance plan. Although there are various companies offering impressive health insurance plans, it is still quite a task to select the one that suits your needs the most. People often tend to choose a health insurance policy that is less costly but offers limited or no benefits, or end up selecting an extremely expensive policy that offers features that you might never need.

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Benefits of a Health Insurance Plan

With advantages as vast as these, every individual must definitely opt for a suitable health insurance plan. A well-chosen plan will smoothly release the medical and surgical cost burden not just for you but also for your family members.

    Cashless Management
  • Health insurance providers collaborate with different hospitals across the country to make the insurance settlement process easier. Any policyholder who chooses to avail treatment from the insurance company’s specified network, they can avail cashless benefits. With the digital India campaign going viral, the cashless management process of insurance companies has built a direct channel between the insurer and the hospital. The insurance policyholder only has to pay for expenses that are not covered by the insurance plan.
  • Pre and Post-Hospitalisation Cost
  • A person should get himself checked or test as soon as he notices any signs of illness or symptoms. The cost of these medical tests can be quite high and that is when a health insurance policy comes to use. After getting tested, if the results show a need for hospitalization, a person can easily claim for a reimbursement. In some cases, additional check-ups and follow-up treatments are required after hospitalization. All these expenses are also taken care of by a health insurance policy.
  • Ambulance Cost
  • During emergencies, an ambulance is the most used mode of transportation. Ambulances have their own equipment to keep a patient stable.  Hospitals also use ambulances for shifting the patient from one hospital to another whenever required. A good health insurance plan covers all these expenses in a majority of cases.
  • No-Claim Benefit
  • No claim benefit is the smartest feature of a health insurance plan that attracts various individuals. Any insurance holder who does not make a claim for the entire year receives a no-claim bonus or reward by the insurance company. Insurance holders receive this bonus in the form of a discount on the renewal premium. The discount amount increases after every no-claim year. It is up to 10% in the first year and has the tendency to reach 50% or more over the years.
  • Routine Check Up Costs
  • It is observed that people do not feel the need for health check-ups unless they notice symptoms or any signs of pain. In most cases, they visit a doctor only when there is an immediate need or critical issue. But routine check-ups help detect early illness and prevent it from becoming worse. These health checks help to minimize overall health-related costs in the long run and decrease the progress rate of diseases to later stages.  Having a health insurance plan will thus cover all such expenses and reduce larger claims.
  • Tax Benefits
  • A health insurance plan is a smart investment plan as it helps an individual in saving taxes. As per Section 80D of the Income Tax Act, 1961, any individual who pays premiums for health insurance is eligible for tax deductions.
  • Easy Portability
  • Policyholders can easily switch between health insurance providers whenever they feel like without losing benefits like no-claim benefits, the waiting period for an existing sickness or other benefits attached to the earlier policy. All insurance companies allow insurance holders to switch to other insurers or plans if the policyholders are not satisfied with their services or find a more appropriate plan.
  • Healthy Lifestyle Rewards
  • Many insurance companies offer rewards to individuals who follow a healthy lifestyle.  There are premium discounts available for non-smokers as well as teetotalers. Moreover, policyholders who choose to quit smoking during the term of the policy also get discounts on their premium amounts. This initiative has helped various insurance companies in developing a good customer relationship and has motivated insurance holders to lead a happier and healthier lifestyle.
  • Global Coverage
  • For policyholders who often travel out of the country, having an international health insurance plan is a remarkable benefit. This benefit covers high medical costs of emergencies that may occur during an individual’s stay abroad. Buying a health insurance policy that takes care of you and your family anywhere in the world is the best possible financial decision that you can make.