Health insurance is a type of insurance plan that covers medical expenses. The expenses include doctor fees, surgery costs, hospitalization 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 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.