Why Do You Need to Buy Health Insurance?

You need a health insurance cover as a financial back up to be able to meet the rising cost of healthcare in India. Medical inflation in India has been 15% over the past few years, and a health insurance policy helps people to be able to pay for expensive medical treatments, hospital bills, in case of an illness or accidental injury.

Unfortunately, only 20% of the total population in India has health insurance coverage. Additionally, only 18 percent of the total population residing in urban areas and 14 percent of the total population residing in rural areas had any form of health insurance coverage. Let’s check why do you need to buy a health insurance plan in India:

• A health insurance policy can pay for hospitalization expenses, medication and laboratory test costs, ambulance, doctor fees, etc. Some health plans also cover OPD expenses up to a certain limit.
• It helps in minimizing your out-of-the-pocket expenses with a cashless medical treatment facility in the network hospitals
• Nowadays, amid the coronavirus outbreak, it is all the more important to have or buy a medical insurance cover that covers the cost of treatment including the cost of PPE kits, masks, ventilators, ICU charges, etc.
• Even those who are planning a family can buy a health insurance plan to get maternity and new-born baby cover
• You can buy Corona kavach and Corona Rakshak health plans if you do not have coronavirus health insurance plans cover and keep all your worries at bay
• The cost of major surgeries like liver transplantation, open-heart surgery, and day-care treatments like cataract surgery, varicose veins, and the likewise are also paid by the insurer if you have a medical insurance policy
• A health insurance policy helps you and your family enjoy their peace of mind without worrying about the future hospitalization or a medical emergency, which can otherwise drain a major portion of your savings