FOR YOU & YOUR TRIPS
Unified Health Coverage for Teams and Individuals
Unlike individual and family floater policies, group health insurance plans can be purchased by a group manager for a large number of individuals.
Benefits of Health Insurance
Helps Deal with Rising Medical Costs
Health insurance provides financial protection from rising medical costs, covering expenses like ambulance fees and daycare procedures, easing the burden of unexpected accidents or emergencies
Critical Illness Cover
Many health insurance policies offer coverage for critical illnesses, providing a lump sum payout upon diagnosis. With the rising incidence of lifestyle-related diseases, this coverage is crucial for managing expensive treatments
Easy Cashless Claims
Network hospitals affiliated with health insurance providers facilitate cashless claims, streamlining emergency medical care. At these hospitals, all covered treatments are taken care of without upfront payment, simplifying the claims process.
Added Protection
Individual health insurance plans offer more comprehensive coverage compared to group plans, protecting you and your finances even if you leave the group. Additionally, premiums paid toward health insurance policies are eligible for tax deductions
Tax Savings
Premiums paid towards health insurance policies are eligible for tax deductions under Section 80D of the Income Tax Act, 1961. For policies covering yourself, your spouse, children, and parents below 60 years, you can claim a deduction of up to INR 25,000 annually from your taxable income.
How the Health Insurance Works?
- Health insurance provides financial protection for accidents or emergencies.
- Apply for a plan, receive premium quotes based on factors like age and medical history, and undergo necessary medical tests.
- Upon finalizing terms, a policy is issued with initial waiting periods.
- Treatment at network hospitals can be facilitated directly with the insurer; policyholder covers uncovered expenses and voluntary co-pay.
- Non-network hospital treatments can be paid upfront and reimbursed later, ensuring necessary treatment without significant financial burden.
Need for Health Insurance
01
Medicare or medical costs are rising year on year. Inflation in medicare is higher than inflation in food and other articles. While inflation in food and clothing is in single digits, medicare costs usually escalate in double digits.
02
For an individual who hasn’t saved that much money, arranging for funds at the eleventh hour can be a task. This is particularly daunting for seniors, given that most ailments strike at an advanced age.
03
One way to provide for health-related / medical emergencies is by taking health insurance. Health insurance offers considerable flexibility in terms of disease/ailment coverage. For instance, certain health insurance plans cover as many as 30 critical illnesses and over 80 surgical procedures.
04
With health insurance, you are assured of a more secure future both health-wise and money-wise. This makes health insurance policies critical for individuals, especially if they are responsible for the financial well-being of the family.
Health Insurances
Types of Personal Accident Insurance Policy
Individual accident insurance
This accident insurance policy provides insurance benefits to an individual in case of any accidental damage. Typically, the insurance covers accidental death, loss of limbs or sight, or other permanent disabilities resulting from an accident
Group Accident Insurance
Group accident insurance only provides limited benefits when compared to an individual accident insurance plan. However, most insurers provide complete cover in case of death temporary partial disablement, or permanent total disablement of the insured due to accidents occurring anywhere in the world.
