August 6, 2021
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5 Reasons for Health Insurance that you must know

With the constant increasing prices of health care in our country. And with the ever-rising instances of diseases, health insurance today is an obligation. Health insurance provides people with a much-needed financial backup at times of medical disasters.We will write about reasons for health insurance. 

Health risks and uncertainties are part of the lifecycle. One cannot plan and get sick but one can certainly be prepared for the financial feature. One of the ways to be monetarily prepared against uncertain health risks is by buying health insurance. We will write about reasons for health insurance. 

  • Here are the five major reasons for getting health insurance:
  • Income tax benefit is also a Reasons for health insurance :

    Expenditures made towards health insurance premiums are also qualified for tax deductions under section 80D of the Indian Income Tax Act. People up to 60 years of age can entitlement a deduction of up to ₹ 25,000 for the health insurance premium paid for themselves. Or for their spouse or children. One can also claim another ₹ 50,000 as a deduction. If you buy health insurance for your parents aged 60 years and above.

  • Shifting lifestyle, Reasons for health insurance will help you: 

    : There is an excess of reasons to have a health insurance policy in place. The tectonic shift in our lifestyle has made us more inclined to a widespread range of health ailments. Commuting, hectic work schedules, wrong eating habits, quality of food, and rising levels of pollution have increased the peril of emerging health problems.

  • Increasing medical costs is the Reason for health insurance

    : The medical costs have intensely risen lately. So, in case of a medical emergency, consumers end up spending their savings, which takes a toll on their future plans. Reports highlight that Indians primarily depend on their own reserves. When it comes to tackling health emergencies in life.

  • Coverage of pre and post-hospitalization expenditures

    : Not only normal medical costs but also the cost of OPD (out-patient department) expenses. Diagnostic tests have also risen in current times which have made it even more dynamic for one to purchase a health insurance policy. It is notable that the medical policies not only cover the hospitalization costs. But also the expenditures incurred towards OPD and diagnostic tests before and after a required time period as given by the policy.

  • Added benefits: One also gets benefits such as ambulance coverage, coverage for day-care surgeries. Coverage for health check-ups, and vaccination expenses under health insurance. These days’ insurance companies also offer health insurance for Ayush treatment.

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