Finance

10 Benefits of Purchasing Medical Insurance in India

medical insurance

People value their health more than anything else. It is an asset that keeps them active and gives them the strength to perform all kinds of tasks. Whoever has a healthy body and mind can give their best performance and prove themselves to be superior to the others. Every organisation also prefers employees and candidates that are physically fit for the profile apart from their strengths.

Medical insurance is essential for a bright and fruitful future. It has plans that financially cover the individual’s medical and surgical expenses over their lifetime. It is an agreement between the individual and the insurance agent or company. After receiving the payment, the company pays for all hospitalisation and medical expenses according to the plan.

Health insurance is beneficial for every individual, irrespective of their age. Emergencies never arrive with a warning. Hence, it is better to remain prepared for all kinds of situations. Any medical crisis can exhaust all the savings of the family. But, with the help of an insurance policy, families can save a lot of money and utilise it for a brighter future. Following are the benefits of having a Mediclaim:

  1. Access to alternative treatment:

Many insurance providers have plans which can support alternative methods to medical treatment such as Ayurveda and Homeopathy.

  1. Recovery benefit:

Also known as convalescence benefit, the insurance provider takes charge of all the recovery expenses. The insurance company covers any supplementary costs that might arise due to hospital admissions. It takes care of the loss of income of the family of the insured.

  1. Domiciliary treatment:

All insurance providers give coverage for the treatment of individuals undergoing medical supervision at home. The medical insurance policy, however, has a limit on the amount and the period for which they provide the benefit.

  1. Organ transplant expenditure:

The coverage of expenses before an organ transplant is one of the best benefits that any insurance plan can provide. Some insurance companies cover the full cost, whereas others have a limit on the spending amount.

  1. Daily hospital cash allowance:

It is an additional finance cover provided by insurance agencies which include the cost of food, travel, and other expenses for taking the insured to the hospital. The cover can spend for INR 2,000 and can exceed up to INR 4,000 for a day.

  1. Attendant allowance:

Insurance in India offers cover for adults who accompany the insured at a hospital. The insured should be a minor, and the number of days the company pays for the allowance is predetermined.

  1. Free health check-up:

Most of the insurance companies provide policyholders with free medical and health check-ups after some claim-free years. They also offer cashless benefits if the check-up is at a recognised and listed institution.

  1. Dental treatment:

Many insurance providers also provide covers for dental treatments once every few years. Since the costs of dental treatments are high, all policyholders can benefit from it and save up on their expenses.

  1. Weight loss surgeries:

Bariatric surgeries are life-saving techniques for patients who are overweight or obese and are suffering from medical conditions due to their weight. Several insurers cover the costs for such surgeries and medical treatments.

  1. Additional coverage:

With the progress in technology, many companies are now providing online health insurance with additional benefits like air ambulance coverage, vaccination expenses cover, day-care surgery covers, coverage for health check-ups and lots more. You can buy a policy through an app such as LGI LivMobile App for hassle-free process.

These policies help people with financial problems as well. Since emergencies are unpredictable, every person should be financially prepared well in advance.

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