What is Health Insurance

Health insurance is a type of insurance coverage that helps individuals or groups pay for medical expenses and services. It is a contract between an individual or an employer and an insurance company, where the insurer agrees to provide financial protection and coverage for a range of healthcare-related costs in exchange for regular premium payments.

Health insurance plans vary in terms of coverage, cost, and benefits, but they generally provide assistance in paying for medical and surgical expenses, prescription medications, hospitalization, and preventive care.

Health insurance helps protect individuals from the high costs associated with healthcare, allowing them to access necessary medical services without facing significant financial burden.

What are the benefits of buying a health insurance policy?

Financial Protection: Health insurance provides financial protection by covering a significant portion of your medical expenses. It helps you avoid or minimize out-of-pocket costs for medical services, including doctor visits, hospitalization, surgeries, prescription medications, and laboratory tests. This can be especially crucial in cases of serious illnesses or accidents that require expensive treatments or long-term care.

Access to Quality Healthcare: With health insurance, you have access to a network of healthcare providers, including doctors, hospitals, and specialists, who have agreements with your insurance company. This network ensures that you can receive medical care from reputable providers who have been vetted by the insurer. It helps ensure that you receive timely and appropriate medical attention, improving your overall healthcare experience.

Preventive Care Services: Many health insurance plans offer coverage for preventive services such as vaccinations, screenings, and annual check-ups. These services are designed to detect potential health issues early on, allowing for timely intervention and treatment. By having health insurance, you are more likely to seek preventive care, which can help identify and manage health conditions before they become more serious and costly to treat.

What is the health insurance eligibility criteria?

  • Proposer must be above 21 years of age to be eligible for health insurance.
  • In case of a family floater policy, the minimum age of the child to be covered by the health policy is more than 3 months.
  • The maximum size permitted under the Family Floater Policy is two adults and two children.
  • If you are above 56 years of age, you will need to undergo a medical examination at our designated centre. Based on your health status and any pre-existing diseases, your eligibility for health insurance will be determined.

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