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The Impact of Health Insurance on Your Life

For most of us, a health insurance policy is yet another document to be safeguarded in a cabinet in our house and/or a folder in our computer until circumstances require us to put it in use. Less do we realize how investing in a health plan transforms our life for better.

Uncertainty is a part and parcel of our being and a health policy plays a major role in helping us lead a peaceful lifestyle. It backs us up against any medical emergency that might strike unexpectedly.

 

We catalog here all the major health insurance benefits that you gain from your health insurance policy, in detail; Get to know your plan better, to live better:

Budgeting

Let us start from the foreground. The major purpose of buying a health plan is to ensure that you have adequate money to fund your medical treatment in the time of need, which translates to effective financial planning. This forethought also applies when it comes to making an investment in purchasing the policy, in the first place. Insurance companies offer a range of plans and premiums to fit everyone’s paying capacity.

Flexibility

Now the question arises, does spending what we can is evenly matched with what we should; or are we missing out on any important features? Fortunately, to match the changing healthcare needs, the insurers allow customization of health insurance policy at the time of purchase or renewal. So whenever an upgrade is available, use it to enhance your existing policy with a top-up feature. It can also be utilized to fit your changing needs. For instance, you might need a Family Health Insurance few years down the line.In that case, you’ll not have to sign up for a new policy as you will be able to alter your existing one. The mantra here is to pick the basics and load it up as and when you can.

Medical Concierge Services

To have the treasure and not know how to put it to good use is as good as no treasure. Not all of us are well-versed with our treatment requirements or the facilities available in our nearest hospitals. Our little knowledge further restricts in the state of panic, which often accompanies such situations. To support you through these perils, your insurance company provides medical concierge services that assist you through your illness—everything from making appointment and arrangements for the treatment to clearing off the bills.

Lifelong protection

Most of the health policies come with an upper cap on the age-limit of the individuals they cater to. This may mean leaving you unprotected at an age when you need it the most. However, certain insurance providers, like HDFC ERGO, offer policies with a lifetime renewability feature. Moreover, if you buy this policy before the age of 45, you would not even be required to take a preliminary health check-up.

Cashless Hospitalization

The help that you have when you most need it is the only help you have. Going through difficulties to arrange money for paying off your hospital bills and getting the reimbursement later cuts down your worries, but does not cease them completely. For your outright peace of mind, companies offer Cashless Hospitalization Service. Here, you just need to report your case and policy number at the insurance help desk in your desired network-hospital and the rest will be taken care of.

Recovery Benefit

The end of the course of hospitalization/treatment does not necessarily mean the complete recovery of your health. The best Health Insurance Policy will support you through the post-hospitalization period too. Here, your company provides extended financial aid, also called as convalescence benefit, to fund your daily expenses till you are fit to restore your daily lifestyle.

Attendant Allowance

Everything that is a part of your health re-establishment, be it your hospital or a loved one who takes care of you while you are sick, is your company’s responsibility. An attendant allowance pays towards the food and refreshment of the person who looks after you in the hospital.

Portability

Like I have mentioned before, you do not freeze the policy after you buy it for the first time. With changing circumstances over time your requirements may change too. To redesign your plan, in order to help it adapt to your present situation, you can transfer your existing plan to a different company that you may find better.

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