Jiyo Healthy!

Why Health Insurance?

The very concept of Health Insurance began as a result of the idea that even a lower economic strata individual can avail quality treatment as health comes first, by paying an affordable premium.

Today, what began as a simple idea has grown into a well established not to mention organized industry that strives to give you affordability of the kind of treatment that you need, without you having to worry about the cost. It is constructed with specific clauses and conditions so that the facility cannot be misused and the end user gets all the benefits he deserves.

In India it is also known as “Mediclaim” because the first health insurance policy which was launched in India was called Mediclaim.

What is Health Insurance?

Health Insurance gives you many benefits like providing you cover against hospitalization costs arising from treatment of disease or accidental injuries. So, it is necessary for every individual, of any age group, to get one’s self and family insured as it enables obtaining the best treatment without being bothered about the costs of the same.

How does it work?

When you buy a health Insurance policy you need to pay an annual fee to the company known as ‘premium’. The amount of coverage or ‘cover amount’ or ‘sum assured’ that you want will primarily decide the premium which you need to pay. Higher the coverage amount higher the premium. In the event of a claim, the maximum amount which the health insurance company pays you will be this coverage amount.

For example, you choose a coverage amount of Rs 4 lakhs for the year. Then throughout the year you can avail insurance coverage up to the amount of 4 lakhs, either in multiple claims or one whole claim should one hospitalization cost exceed 4 lakhs. Once you have reached the coverage limit you can no longer claim reimbursement for your hospitalization costs until your policy is renewed.

What is not covered?

Health insurance policy usually does not cover routine medical expenses; it is only a cover against hospitalization. Any health insurance policy has got a list of exclusions like pre- existing diseases, non- accidental dental care etc. The Health Insurance policy covers all or a part of the medical costs incurred in treating the disease or injury including the doctor’s consultation charges, medicine and nursing costs as per the terms and conditions of the policy.

what, when, how all about health insurance

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