An insurance policy which covers the medical and surgical expenses of the insured is called a health insurance policy. People usually use the terms Mediclaim and health insurance policy interchangeably. However, while a Mediclaim policy is limited to hospitalisation charges alone, a health insurance policy is more comprehensive. Typically, insurers in India provide the following types of health insurance:
Due to daily stress and hectic lifestyles, health has truly become a wealth that people are looking to protect. At the same time, one of the sectors which are undergoing steady inflation is the health care sector. Instead of paying hefty bills once you are afflicted with a disease and hospitalised, you can pay a small premium to obtain an insured amount. This will also ensure that you lead a stress-free life.
Section 80 of the Income Tax Act provides a host of tax benefits for a health insurance plan:
It is possible to obtain a policy though it is very likely that such a policy will have several conditions imposed by the insurer. The insurer may also agree to cover only such medical conditions which are not caused on account of your pre-existing condition. In some instances, depending on your pre-existing medical condition which is to be covered, the insurer may insist on a higher premium.
Once you obtain a new health insurance policy, you will have to wait for 30 days, since the policy date to be able to make any claims. The insurer will not be liable to make any payments for any hospitalisation or surgical expenses during this period, except in case of emergencies.
Multiple health insurance plans are allowed. However, when you are making claims, only one of the insurance policies can be claimed to avail the cashless benefits. The balance amount will have to be paid by you, which can be settled later with the insurer.
With Liberty General Insurance's health insurance policy, you are given cashless medical insurance across an extensive network of hospitals. Apart from this, you get a free health check-up after two years of continuous policy renewal, irrespective of the claims you have made during the same period. If you are a new customer, click here. If you are renewing your LGI policy, click here.
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