Why must you Buy Health Insurance during COVID-19 Pandemic?

The pandemic has changed the lives of people in more ways than one. And one of such changes is that it has made people more concerned and conscious about the health of themselves and their loved ones. The concern is natural when you hear about the rising number of active cases in the newspapers and TVs every single day.

Now, we all know that the spread of the virus is showing no signs of stopping at present. So, the least you can do is prepare yourself beforehand by availing adequate Health insurance coverage.

Read on to know why you need it now!

A health insurance gets you complete coverage

Medical emergencies like COVID do not come announced, and this is the prime reason why you need to consider a medical insurance plan. Getting a medical insurance plan protects your family in times of need, and further offers a complete coverage against all other diseases and accidents.

Additionally, there is another reason why individuals need to opt for medical insurance during the present times. The extensive coverage offered by an insurance plan can be of immense help in reducing the hospital expenses considerably.

Combating the ever-increasing medical expenses

The steady rise in medical bills is one of the factors in making more people opt for medical insurance policies during the present situation. The rising demand for quality treatments has made the healthcare costs shoot up. Thus, people are looking for cashless insurance policies that can reduce their medical bills, if the need arises.

Getting lifetime coverage and assured protection

Keeping the current scenario of the pandemic in mind, people are choosing a medical insurance policy that offers the facility of lifetime coverage to them. This is one of the undeniable benefits of health insurance.

Though insurance providers placed the previous coverage cap at seventy to eighty years, nowadays many reputed insurance providers offer policies that ensure lifelong protection. Thus, if you are yet to have a medical insurance policy, it is better not to delay getting one any further.

Insurance policies come with several tax benefits

Buying a medical insurance policy comes with several tax advantages. All the premiums you pay for the health insurance policy get tax exemption. Under section 80D of the Income Tax Act, 1971, they are eligible for tax deductions.

Therefore, you get to avail of the advantage of a tax exemption while spending on medical insurance premiums for yourself or your kids, spouse, or parents. The fact that you can also save up money through your medical insurance policy is like an added benefit.

The advantages associated with extra riders

Another undeniable benefit of getting a medical insurance policy is that you can opt for additional rider benefits to an existing insurance policy. The additional rider benefits can be coverage inclusion for the patients or corona. Thereby, it will take care of all the medical expenses in such a situation of emergency.

Furthermore, the additional riders are offered by almost all insurance service providers these days. So, you can add them to the policy by spending a minimum amount extra.

Read Also – How to Choose the Best Medical Insurance In India

The facility of emergency coverage

These are challenging times, and you never know when the need for hospitalization comes up urgently. After all, the oxygen levels in COVID patients tend to be okay one minute and start dropping to worrying levels the next moment.

In such scenarios, money should not be a factor preventing patients getting the highest quality of medical care. Thus, getting a medical insurance policy during the times of the pandemic can be a lifesaver for an individual and his family.

The benefit of cashless claim processes

In the cashless claim processes, the insured individual first gets the required treatment at the hospital. Then, when he is discharged, the hospital forwards the Health insurance claim to the insurance provider. It is a hassle-free way to get the costs of your treatment covered during COVID emergency.

Wrapping up

There is no denying the fact that the need for a medical insurance policy has increased manifold in the times of the pandemic. In this age of rising medical treatments and raging virus attacks, the least one can do is prepare for the bills beforehand by getting the right insurance policy.

 

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