Health Insurance

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You may not care about your health, but you sure do care about your finances. With healthcare costs rising by more than 15 percent a year, having health insurance is becoming a necessity.

These policies are of three types: the first covers basic hospitalization needs; the second covers critical illnesses; and the third covers daily hospital cash reimbursements. Even life insurers offer health coverage with defined benefits. Under these, a pre-specified amount is paid as compensation, irrespective of the expenses incurred. With or without a family, you need health insurance.

For those who have a family, we recommend a family floater instead of a standalone policy since the probability of all family members needing hospitalization at once is remote.

Even if your employer offers group medical insurance, get your own coverage. A change of job could leave you without insurance, and so could retirement. And getting a fresh cover after 45 is difficult.

Think of insurance as "hardship avoidance," not "convenience" or "hitting the jackpot." Contrary to some common perceptions, insurance is not a rip-off. For most people, it is a necessary and valuable financial service.

Important:

  • Buy a Floater Plan to Cover the Entire Family.
  • Opt for a Cashless Plan and Keep Cashless Mediclaim Cards At Hand.
  • Ask insurers for premium rates to find the cheapest policy.
  • Keep an eye on the exclusions and inclusions in the policy.
  • Undergo medical tests, if required.
  • Buy health insurance even if you have one from your employer.