Have you ever thought of a medical emergency where the chances of survival are great, but the major health issues need to be operated? You never know, when will such situation occur and how will it impact your financial budgeting. People might say having life insurance is enough; but when it comes to claiming the expenses for health conditions, life insurance doesn’t work at all. Why so?
To answer, you must understand that life insurance is different than health insurance policies. The primary aim of life insurance is providing life coverage to the person until he’s alive. On the demise of the insured person, the insurance company pays out the benefits. Some life insurance plans also have maturity or survival benefits; which can only be gained by completing the tenure of the policy.
Here comes health insurance in the picture. Health insurance benefits you whenever any medical situation needs to be handled. Following are some of the health insurance benefits.
Free Health Check-Up
Health insurance allows you to appear for a health check-up for free. This service can be availed for particular times in a year, depending on the insurer.
Though health insurance benefits you in getting coverage against health-related expenses, it is not always the case when you have health conditions every year. The claims are made until and unless there is any major situation. Now, as the claim is not made, you are entitled to avail NCB or No-Claim Bonus. For every renewal of the policy, until you don’t make any claim, you get some bonus.
Top-ups are nothing but the additional coverage gained at considerably lower premiums. If you have opted a particular sum assured, and the expenses exceed the maximum amount allowed to claim, the top-up bears the additional cost within its range.
Apart from the health insurance benefits mentioned above, the policies offer regular tax benefits. Tax exemption can be availed under section 80D of the Income Tax Act.
To conclude, health insurance benefits you in several ways. If you have opted for life insurance plans, do it also for at least one health insurance policy. Today, several insurance providing companies offer health insurance at affordable premiums. Sometimes, there might be a difference in the health insurance benefits provided by different companies. Thus, make sure you choose the best one to cover the health of yours and your loved ones. Because it is said that health is wealth!