HEALTH INSURANCE
Health insurance plans cover the medical expenses which you incur if you fall ill or are injured and need medical assistance. Since the cost of medicine is very high, health insurance plans prove very beneficial. They pay for the medical expenses thereby saving your finances from the strain of the costs incurred on your treatments.
Features of health insurance plans
- Health plans can be taken to cover yourself as well as your family members
- Expenses incurred on room rent, surgery, nurse’s fees, doctor’s fees, ambulance, day care treatments, etc. are all covered under health insurance plans
- The premiums paid are allowed as a deduction. You can claim a deduction of up to INR 1 lakh by paying health insurance premiums for yourself, your family and dependent parents.
There are different types of health insurance plans available in the market. These include the following –
- Individual health plans which cover a single individual
- Family floater plans which cover the whole family
- Senior citizen plans which cover senior citizens
- Critical illness plans which cover specified critical illnesses
- Disease specific plans for specific diseases
- Top-up and super top-up plans for supplementing an existing coverage
- Hospital cash plans which pay a daily benefit in case of hospitalization
