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Coverage of Medical Expenses: When you have a valid medical insurance plan, the insurer takes care of your medical bills. The insurance company pays for medical procedures, inpatient charges, ambulance charges, up to a certain limit, depending on the coverage offered by your chosen health plan. 

Health insurance is a type of insurance plan that covers medical expenses. The expenses include doctor fees, surgery costs, hospitalisation costs, medicines, and much more. Health insurance is a type of insurance plan that covers medical expenses. The expenses include doctor fees, surgery costs, hospitalisation costs, medicines, and much more. Everyone wants to live a healthy and illness free life. Yet, no one can predict when an unfortunate illness may occur in the family. Nor can one predict the severity of the illness. Medical costs in India have risen sharply in the last few decades. Today, even a minor surgery costs around tens of thousands of rupees. Paying for medical treatments out of pocket places a huge financial strain and can even drain your entire life savings. This is where health insurance comes into the picture. Health insurance is a living benefit – it offers you financial assistance during times of dire need. When you purchase a health insurance plan, you generally pay an annual/monthly premium. The premium varies depending on the type of plan, coverage, and sum assured. During an illness or medical emergency, the insurer pays the cost of medical bills directly to the hospital or reimburses you for the expenses you have incurred. It’s highly beneficial to take a health insurance plan, when you are young and healthy, as the premium costs are low. Make sure to evaluate the different types of plans, compare health insurance providers and choose the best plan that fits you and your family’s needs.

This plan is designed to cover the medical costs of an individual. The insurance company pays for the medical bills of the policyholder. Also, known as a mediclaim plan, it’s the basic form of health insurance.

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