Welcome to Express 360 Insurance & Financial Services
Welcome to Express 360 Insurance & Financial Services
Health insurance, also known as medical insurance, is a vital form of coverage that provides financial protection to individuals in the event of illness or accident. By paying a regular premium, policyholders gain access to comprehensive medical treatments & services, including hospitalization, day-care procedures, critical illness treatments, and much more.
Health insurance or medical insurance, falls under the category of general insurance, providing individuals with essential financial security when faced with health-related issues or unexpected medical emergencies. Whether it’s due to a disease, illness, or accident, health insurance stands as a reliable shield to cover incurred expenses.
There are many options when it comes to health insurance, so it can be challenging to select one that best fits your needs. To make the right choice, it’s important to understand each policy and find the one that suits your needs.
Individual health insurance, also known as Personal health insurance, is a type of health coverage that individuals purchase to provide healthcare coverage for individuals.
Family floater health insurance covers the whole family under one plan, using a collective sum insured for any member during a medical emergency. It includes spouses, parents/in-laws, and dependent children, making it cost-effective with premiums based on the oldest family member’s age.
A senior citizen health insurance plan is a specialized health insurance policy that ensures adequate coverage designed to meet the healthcare needs of elderly individuals who are typically aged 60 or older.
If you already have basic health insurance or you can afford to pay for your medical expenses up to a certain amount, then you may want to consider a Top-up Health Plan. This type of plan offers additional health coverage beyond a predetermined limit called a ‘deductible’ in insurance terms.
Group Health insurance provides coverage to a group of individuals who are affiliated with a common organization or employers. This type of insurance is commonly offered by employers to their employees as part of their employee benefits, but it can also be provided to members of other organizations such as professional associations, trade unions, or affinity groups. Group health insurance offers several advantages, including cost savings and easier access to coverage.
Critical illnesses such as cancer, stroke, kidney failure, major organ transplantation, heart attack, and others are highly dangerous and often require long-term medical treatments. One vital way to secure coverage for these illnesses is through a Critical Illness Insurance Plan, also known as a Fixed Benefit Health Plan. These plans offer a fixed lump sum payout in the event of the diagnosis of critical illness. This payment is made regardless of the actual medical expenses incurred and can be used at the policyholder’s discretion.
Health insurance encompasses a range of policies, each with its unique features and coverage. By examining the various options available, one can make an informed decision.
Health insurance plays a crucial role in safeguarding the well-being and financial security of individuals. In India, health insurance plans offer a wide range of benefits to policyholders. Below are some of the advantages that make health insurance a wise investment for everyone.
The primary purpose of a health insurance policy is to offer financial coverage in the event of a medical crisis resulting from illnesses, accidents, or hospitalization. Thus, making it important to make a part while planning financial goals.
Health insurance covers both pre and post-hospitalization expenses, including screening tests like CT-scans, X-rays, and MRIs before hospitalization. Post-discharge care, involving follow-up treatments and medication, is also covered. Policyholders can seek reimbursement for a fixed number of days, as specified in the policy document.
One of the major benefits of health insurance is the coverage it provides for pre-existing diseases. However, this coverage becomes effective only after the completion of the waiting period mentioned in the policy certificate. It can typically be between two years to four years. With this provision, policyholders can access necessary medical care and treatment without worrying about the burden of pre-existing conditions.
Health insurance not only supports those requiring hospitalization due to illness or accidents but also offers rewards to those who remain claim-free throughout the policy period by increasing their coverage without extra premiums. Now, Health insurance also offers Guaranteed Cumulative bonus irrespective of the claim.
Health insurance eliminates the need for arranging immediate cash for hospital bills during the time of hospitalization. If the hospital is in the insurance company’s network, the policyholder can avail cashless treatment on themselves. This means that the insurance company directly settles the medical expenses with the hospital, easing the financial burden and ensuring a seamless hospital experience.
Health insurance policyholders can avail tax deductions for the premium paid under section 80D of the Income Tax Act, 1961. This provides a significant incentive for individuals to invest in health insurance plans while enjoying tax benefits, thus contributing to their overall financial well-being. Policyholders can avail of maximum benefit of Rs. 75,000 against their policy.
Health insurance is a vital investment, offering comprehensive coverage for medical expenses, including pre and post-hospitalization, pre-existing diseases, cashless treatment, tax benefits, and additional sum insured for a healthy lifestyle. It provides a robust safety net, ensuring preparedness for any medical challenges that may arise, providing security and peace of mind.