What is your goal in life? Surely, working towards prosperity and earning enough to take care of your family. You would also want to own the luxuries in life no doubt, but nothing compares to having the life of your family secured during a critical time. Sure you can earn millions and hope that you have saved enough for a rainy day, but most of us do not reach that goal because of pressures at home, the pressures at work and the social commitments. The biggest threat is seen when a medical emergency comes your way, you are flushed out of your savings immediately. If you have the right health coverage though, you would not have to worry about a thing as all your money will be reimbursed by your insurer.
This benefit is not only applicable for you but also for any of your family members aged between 5 to 65. You will have the benefit of admitting them in the hospital without any advance payment if you have chosen cash less health insurance policy. In this case, you would have to inform your insurance company about the incident and admit your loved one in any of the many registered hospitals with the insurer to claim your reimbursement. Remember that the insurance company covers all your medical expenses within the hospital only and will not entertain any expense outside of this. So it is an absolute must that you keep all your medical bills and expenses.
You must always keep in mind that the costs of medical facilities are shooting up with each passing day and soon enough you may not be able to afford basic medical treatment. There used to be a time when India was the preferred destination by millions for medical treatment, but frankly those days are gone as costs have shot up drastically. Unless you have insurance health , affordability now a days is out of the question. You are more likely to take a loan or a debt to clear your medical expenses and this could lead you into more trouble than what you were in earlier. Believe it or not, reports done by industry experts have shown that more than 70 percent of the people who face a medical emergency are forced to use their savings in the time of a medical emergency. This is a statistic that should convince most to choose health coverage.
Having health coverage also has tax benefits in India. This initiative from the government guarantees that the amount you spend on health insurance will not be taxable. A sure shot reason to choose a health insurance policy.