Health insurance is a crucial financial instrument that provides financial protection against the high costs of medical treatment. Here are some of the key reasons why you should consider buying a health insurance cover policy in India:
Rising Medical Costs: The cost of medical treatment has been rising steadily over the years and shows no signs of slowing down. This makes it imperative for people to have a health insurance policy to cover the costs of medical treatment, especially in case of serious illnesses or accidents.
Protection against Lifestyle Diseases: With the increasingly sedentary lifestyle, many people are suffering from lifestyle diseases like diabetes, heart problems, and obesity. Health insurance covers the costs of treatment for these diseases and provides financial protection against the high cost of treatment.
Tax Benefits: Health insurance policies are eligible for tax benefits under section 80D of the Income Tax Act. This means that the premium paid towards the policy is eligible for tax deductions and can help reduce your tax liability.
Peace of Mind: Having a health insurance cover provides peace of mind and financial stability in case of an emergency. With a health insurance cover, you don't have to worry about the high cost of medical treatment as the insurance company will take care of it.
Cashless Treatment: Many health insurance policies offer cashless treatment, which means that you don't have to pay for the medical treatment upfront. The insurance company settles the bill directly with the hospital, reducing the financial burden on you.
Network Hospitals: Most health insurance companies have tie-ups with network hospitals, where you can avail of cashless treatment. This makes it easier for you to avail of medical treatment without worrying about the cost.
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