Health Insurance

1. Protects Against High Medical Costs
Medical emergencies can be unpredictable and costly. Treatments for serious illnesses like cancer or heart disease can cost lakhs of rupees, which can drain savings. A health insurance policy ensures you get the necessary treatment without financial stress.

2. Covers Hospitalization & Treatment Expenses
From doctor consultations and medicines to surgeries and room charges, health insurance covers a wide range of medical expenses. Some policies even offer cashless treatments at network hospitals, reducing the need for upfront payments.

3. Provides Coverage for Critical Illnesses
Certain policies offer coverage for critical illnesses like cancer, kidney failure, and heart attacks. Instead of reimbursing hospital expenses, they provide a lump sum payout upon diagnosis, which can be used for medical care and lifestyle adjustments. Critical illness policy provides a lump sum amount, helping the holder manage treatment costs and household expenses.

4. Covers Pre-existing & Age-related Conditions
Many health insurance plans cover pre-existing conditions like diabetes or hypertension after a waiting period. Senior citizen policies cater specifically to older individuals, covering age-related illnesses and ensuring their healthcare needs are met.

5. Tax Benefits Under Section 80D
Health insurance also helps save on taxes. Premiums paid can be deducted from taxable income, offering financial relief while ensuring medical security.