Why Buying a Health Insurance Now is Very Important Than Ever?
PNB MetLife 08-07-2020 04:10:50 PM
Most individuals want their lives to be stable without any unpredictability. But, the uncertainty of life has always managed to upset our regular lives, especially with unwanted health emergencies. This is where proper health insurance comes in handy because it takes care of the financial aspect. A health insurance plan can provide you with a much-needed cover in the most critical situation when people are exposed and vulnerable. Nonetheless, there are some other significant reasons as well that can convince you to purchase health insurance. Read More
- The Rise in Lifestyle-Related Illness
With the growing service sector in India, sedentary lifestyle has become a part of the job profile. Moreover, the urban environment and food habits are often considered a component of this baggage. As a result, diseases like diabetes, high blood pressure, disorders in heart and lungs etc. are common sightings among a large section of the urban population. However, there is a silver lining that most of these diseases can also be treated very easily in hospitals across India. Hence, having medical insurance can go a long way safeguarding you financially from any such emergency.
- It is Not Just Limited to Hospitalisation
There is a common misconception that health insurance plans only include admission to a hospital. Most health insurance plans in India have the option of getting insurance coverage for OPD as well as daycare procedures. In most cases, it also covers the vector-borne diseases as well as provides maternity expense cover for both the mother and child.
- Your Employer’s Insurance May Not Be Enough
It is observed that earning individuals who are already covered by their employer are reluctant to get a health insurance plan. However, it must be emphasised that employer’s insurance plans are usually very conservative both in terms of money as well as diseases covered under it. Furthermore, in many instances, the employer’s plans consider only the earning individual and not the members of her/his family. So, it is imperative on your part to thoroughly check with the employer about the intricacies before deciding on not purchasing an insurance plan.
- Rising Medical Inflation in India
Technology and automation have not just rocked the manufacturing but also the medical sector. With the advent of advanced medical equipment, the cost of the medical treatments has also skyrocketed. Moreover, advanced healthcare is mostly available with the private sector, so the market economy also comes into the picture, which is why inflation is its natural outcome. Most health insurance plans in India take into consideration the dynamic nature of the health care sector before finalising their policies.
- Protect Your Savings & the Peace of Mind
Having health insurance provides you with a stress-free lifestyle as it mitigates financial uncertainty when it comes to health emergencies. No matter how much you save, the health crisis is bound to drain out most of the savings leaving you gasping for breath, especially if you have a mid-level earning capability.
- Complete Family Protection
Most health insurance plans in India extend protection to insurance holder’s families as a part of their policy. So, this makes your life easier as you can get a complete package that safeguards both your aged parents as well as your new-born child.
- The Early the Better
Eventually, as most of us must buy an insurance cover due to any one of the aforementioned reasons, why not buy it at an early stage when the cost of the premium would be low, and the coverage would be high.
Health insurance has always been a part of our discourse, especially in urban work-sphere. However, there are some caveats that need to be worked out before purchasing any insurance. The most basic being the exclusion and inclusion parameters of the insurance policy. Another important element for consideration is the claim settlement ratio of the insurance provider. Additionally, as a policyholder, you must also validate the trustworthiness of the insurance company through its market share and audit reports of IRDAI. In case you need more information, you can get in touch with the customer service and enquire all the details regarding the insurance policy.
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The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision.
Mera Mediclaim Plan is an Non-Linked, Non Participating, Combi Insurance Plan (UIN: 117Y102V01). It is advised to familiarize yourselves with the policy benefits and policy service structure of the ‘Mera Mediclaim Plan’ before deciding to purchase the policy. Please read the sales brochure carefully before concluding any sale. This product is jointly offered by 'PNB MetLife India Insurance Company Limited' and 'Religare Health Insurance Company Limited'. PNB MetLife is lead insurer for this product. The risks of this ‘Mera Mediclaim Plan’ are distinct and are assumed / accepted by respective insurance companies as per their underwriting guidelines. The liability to settle the claim vests with respective insurers, i.e., for health insurance benefits 'Religare Health Insurance Company Limited' and for life insurance benefits 'PNB MetLife India Insurance Company Limited'. The policyholders of the ‘Mera Mediclaim Plan' are eligible to continue with either part of the policy, discontinuing the other during the policy term. Goods and Service Tax (GST) shall be levied as per the prevailing tax laws which are subject to change from time. Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details. Cash payment is not eligible for tax benefit under Sec 80D of Income Tax Act, 1961.
Religare Health Insurance Company Limited Regd. Office - 5th Floor, 19, Chawla House, Nehru Place, New Delhi-110019 | IRDAI Regd. No.: 148 CIN - U66000DL2007PLC161503. Correspondence Address - Vipul Tech Square, Tower C, 3rd Floor, Sector – 43, Golf Course Road, Gurgaon – 122009 Call:1800-102-4488|1860-500-4488
PNB MetLife India Insurance Company Limited - Regd. Office : Unit Nos. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, # 26/27, M.G. Road, Bengaluru – 560 001. IRDAI Regd. No.: 117 CIN.: U66010KA2001PLC028883 Phone: 080–6600 6969, Fax: 080 – 25585815, Email: email@example.com Write to us at: Office Unit No. 101, 1st Floor, Techniplex-1, Techniplex Complex, off Veer Savarkar Flyover, S V Road Goregaon (West), Mumbai – 400 062, Phone: 022 4179 0000, Fax: 022 - 41790203
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