“Health is wealth”. It is necessary to maintain the health of a person to survive in the long run. The health of the family members and oneself is very important and one should take utmost care to maintain it. The insurance sector is the fastest growing sector and there is a huge competition among various companies for the mediclaim insurance policies. The current scenario of insurance industry is up to 8100 crores and it has an estimated growth of Rs. 30,000 crores in the next 5 years. The mediclaim policy India is also available in various premium rates. The mediclaim policies are provided by government organizations or private insurance companies.
How to Select Best Health Insurance Policy
The duration of the mediclaim policy India varies from 1 year to a maximum duration of 2 years. The premium for the mediclaim policies are calculated on the basis of entire healthcare expenses incurred by the family. The details of the healthcare expenses are mentioned in the insurance agreement. The agreement also mentions the benefits which are offered by the insurance company. The mediclaim can be taken individually or collectively. The collective mediclaim policies are family insurance, group insurance policies or short term insurance policies. The Family health insurance policy covers the individual, his spouse and his parents. The person has to pay one low monthly premium. The group mediclaim policy is usually taken by corporate for their employees.
The person can choose from various health insurance policies. The insurance available are Health Guard, Family Floater Plans, and Health Advantage Plus and Hospital cash are few of the best health insurance policy in India. The Family Floater Policies and the Health Advantage Plus policies are the best when it comes to tax saving under income tax. These insurance policies are applicable under the new tax reforms of Income tax under section 80D.
The Health Advantage plus Plan can help the tax payer save an amount of Rs. 5099/-; this as per the revised income tax reforms under section 80D. In case the tax payer has a health insurance policy then the Health Advantage plus Plan can act as an additional coverage. The sum insured is more and benefits of healthcare options are also higher. The person can get a cashless facility up to Rs. 4000-4500/- across all the hospitals in India as per the list finalized by the insurance company. The critical illness health insurance policy in India covers all the critical illness. The insured person gets a lump sum amount for the treatment of the critical illness; this is irrespective of the amount of hospital bills.
The other best health insurance policy India is the senior citizens health insurance policy. This policy is basically designed for those individuals who are above the age of 60 years. The premium of this policy is also high as compared to other policies. The renewable age of the policy is also late and it has a less waiting period.
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