What is Health Insurance?
Health Insurance is a contract between the policyholder and the insurer where the health insurance company provides financial coverage to the insured up to the sum insured limit. It offers medical coverage for healthcare expenses incurred during an emergency or planned hospitalization. It also provides tax savings on the premium paid to the insurance company under Section 80D of the Income Tax, 1961.
Health Insurance at a Glance
| Categories | Specifications |
| Sum Insured | ₹50,000 to up to ₹3 crore |
| Maternity Cover | Available |
| Pre & Post-hospitalization Expenses | Covered |
| OPD Cover | Available |
| ICU Charges | Covered |
| Free Health Check-ups | Available |
| Pre-existing Diseases | Covered* |
| Ambulance Cover | Available |
| Day Care Procedures | Covered |
| Tax Benefits | Up to ₹75,000 per financial year |
*Pre-existing diseases are covered after the waiting period is over.
Benefits of Buying Health Insurance Plans Online?
Buying a health insurance policy online comes with several benefits. Take a look at them below:
- Easier to Compare Plans – It is easier to compare health insurance plans from different insurers online at websites like NJ Insurance to make an informed decision.
- More Convenient – It is more convenient to buy the policy online as you do not have to visit the branch of the insurance company or take an appointment to meet an insurance agent.
- Online Discounts – It allows you to avail discount on premiums for buying the policy online.
- Lower Premiums – Health plans are available for a lower premium online as insurance companies save a lot on operational costs.
- Minimal Paperwork – The process of buying a health insurance policy online involves minimum to zero paperwork.
- Policy Available 24x7 – A health insurance policy can be purchased online any time of the day, even on public holidays, which is not possible in offline buying.
- Digital Payment Options – It allows you to avoid cash payments and use digital payments methods to pay the premium online safely.
- Instant Policy Purchase – A health insurance policy is issued instantly when purchased online unlike offline buying.
- Time-saving – It saves you a lot of time as the policy is issued within a few minutes of buying.
Top Reasons to Buy a Health Insurance Plan
Medical inflation is increasing every day making treatments expensive. If you get hospitalized for a critical illness or lifestyle disease, you may end up losing all your savings. The only way to afford quality medical treatment during a health emergency is by buying a health insurance policy. Take a look at some of the top reasons to buy a health insurance plan below:
- Beat Medical Inflation - A health insurance policy can help you pay your medical bills, including pre and post-hospitalization expenses, today as well as in future despite the rising medical costs.
- Afford Quality Medical Treatment - It helps you to afford the best quality medical treatment and care so that you can focus only on getting cured.
- Fight Lifestyle Diseases - It allows you to pay for the long-term treatment of lifestyle diseases like cancer, heart attack, etc. that have been on the rise with the changing lifestyles.
- Protect Your Savings - It helps you to protect your hard-earned savings by covering your medical expenses so that you can avail the required treatment without any financial worries.
- Avail Cashless Hospitalization Facility - It allows you to obtain a cashless hospitalization facility at any of the network hospitals of your insurance provider by raising a cashless claim.
- Get Tax Benefits - It enables you to save tax on the health insurance premium that you’ve paid under section 80D of the Income Tax Act for better financial planning.
- Ensure Peace of Mind - It allows you to obtain medical treatment with peace of mind as you do not have to worry about paying the hefty hospital bills.
