Ever since the COVID-19 pandemic hit the world, almost everyone realized the element of uncertainty involved with life. There can be a need for a medical emergency at any instance of time and to protect yourself against such immediate calamities, you must have health insurance.
While you may be already practicing necessary guidelines for the prevention of this virus; health insurance will act as an additional layer of security.
As the experts already indicated the chances of a third wave, which might be much more worrying than the earlier two, a health insurance plan can help you prevent getting trapped in financial burdens that may occur due to hospitalization and treatment costs.
But one fact is certainly clear – the future is unpredictable and nobody knows when uncertainty takes place. With that said, let us discuss how important it is to get health insurance and how it can serve as a relief in the pandemic.
Medical Expenses (Pre and Post)
With the purchase of a health insurance policy, you also get regular annual health check ups for absolutely free of cost that includes all of the basic tests like urine, cholesterol, blood sugar, ECG and so on. Moreover, this is available through all the insurers regardless of the type of plan you choose. Through free annual health checkups, you can always stay informed and updated about your body and early detection of any disease or disorder is possible. It can be considered that a finally chosen and comprehensive health insurance plan is surely an indispensable part of a person who wants to be secure against any unforeseen circumstances.
High-Level Treatment Charges (ICU)
As covid-19 has already affected a lot of people, the patients are struggling to survive due to low oxygen levels that require the support of ventilators under intense daycare to be cured. However, due to the unavailability of oxygen tanks, a lot of middle-class people are not able to get proper treatment as they don’t have enough savings or cover that may help them with the charges that they incur through the treatment. As of now the hospitals in tier 1 and tier 2 cities of India are charging an estimated amount of rupees 10 lacs for hospitalization due to covid. Therefore, health insurance is surely a big saver in such a case of immediate health concern.
Cashless Hospitalization
In case you get affected by covid-19 or any other critical disease, the cashless hospitalization benefit of a health insurance plan can help you get treatment immediately with minimal paperwork required. Moreover, when you reach the hospital you won’t have to pay any deposits through cash. With the help of cashless hospitalization benefits of health insurance, you can get treatment as soon as you reach the hospital.
Savings on Income Tax
In addition to hospitalization charges and free-of-cost health checkups health insurance also offers you tax benefits. Health insurance that covers your whole family can allow you to save up to rupees 60,000 on taxes in a financial year. The amount you save on taxes through health insurance may vary based on you and your parents’ age. Even in the case of group health insurance you still save money on taxes.
Benefits of Health Insurance During Pandemic – In A Nutshell
By having health insurance cover you can always have peace of mind that you are covered against nearly all the major and minor diseases. In the event of a medical emergency, a health insurance plan ensures that you don’t have to depend on someone else to help you with monetary support. It is also safe from the volatile conditions of the market and you can sell back your policy anytime to gain money against it without even spending a penny from your side.
On the other hand, it is not only about the covid-19 pandemic, various other health ailments require medical support. These kinds of unpredictable situations call for the need for health insurance. Although many people consider health insurance as a dead investment as it isn’t related to any kind of returns, its true value is only understood when things begin to go wrong in terms of your physical health. When you have health insurance you can always live a comfortable life without having to borrow money from someone else or sell your physical assets.
To sum it up it can be stated that every individual must have a good comprehensive health insurance plan cover that offers a lump sum benefit in case they are diagnosed with any kind of illness stated in the terms and conditions of the policy. This will allow you to stay prepared for any kind of medical emergencies that may occur in the future and stay tension-free by knowing that your medical expenses are already being managed without having to depend on anyone. It will always assure you of quality treatment at various qualified hospitals, and you can certainly feel free to consult a doctor anytime you feel discomfort or something fishy with your physical health.
The Takeaway
The number of benefits provided by a health insurance plan can never be stated completely in a single article. It is a crucial investment of life that protects you against various unwanted events that may occur soon.
Therefore make sure if you don’t have an existing policy under your name you should get more information on what is health insurance and how it can protect you and your family against this deadly virus and various other diseases. Once you have a clear understanding, you must invest in the best options available to you.
