Health Insurance: Gift Yourself the Best Gift Ever

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Health Insurance: Gift Yourself the Best Gift Ever
Shreeraj Deshpande - 16 May 2019

Mothers’ Day might have passed by, but we can never forget the role mothers play in our lives. We all know that a mother’s love is unconditional and she always ensures that we get a healthy life.

However, while mothers are constantly engaged with various activities at both household and professional front, in the process they tend to ignore their health.

What most women don’t realise is that they will be able to take care of their family only if they are healthy. It somewhere correlates to the announcements made by airhostesses in an aircraft - ‘First you wear a life jacket and put on the oxygen mask yourself before helping others.’

Here comes the importance of health insurance.It is vital to understand the need for health insurance, which can save women from huge financial crisis in time of a medical emergency. Once a critical illness is diagnosed, it not only affects our health but also can damage our entire life. The cost for speciality medical treatments and hospitalisation are so expensive today that it is almost difficult to bear that cost by self without necessary support from insurance.

Health insurance is beneficial to all age groups. Young girls can opt for health insurance for their parents and themselves, married women can opt for themselves and their extended family and so on.

What is a Health insurance and what are its benefits?

Health insurance is a broad concept that provides protection against medical uncertainties and the costs involved. There are various products available in the market and the extent of cover and benefits varies between products.

Health insurance for women

There are products in the market that cater to the specific needs of women including critical illness; Further there are companies, which have products that provide extra advantages like maternal care benefits, childcare other than the basic covers. The benefits differ from product to product; few common ones are mentioned below,

- Inpatient hospitalisation with cashless facility

- Pre and post hospitalisation expenses

- Preventive health check-ups and wellness benefits

- Maternity benefits pre-natal and post-natal expenses

- Cover for new-born babies, vaccination expenses

- Critical illness product pays the full sum insured amount in case the insured is diagnosed with any critical illness including heart attack, cancer, stroke, and kidney failure. Also, policies cover critical illness specific to women like breast cancer and cervical cancer.

- Tax benefits under section 80D

Health insurance and benefits for single- mothers

Medical expenses these days are way too expensive and if it happens to be a single woman, bearing costs and managing everything If they happen to face any medical emergency in the family, which requires huge investment for treatment and care, a comprehensive health care product and a critical illness product shall provide the required financial support.

If you are a single mother, you can avail the following added benefits through a health insurance product

- Your child can be insured under comprehensive health cover along with you

- Child care benefits can be available under the same cover

- The cover includes charges for vaccinations for child

- You can also insure your own parents under a single cover along with your children

Health insurance for a newly-married couple

Newly-married couples can opt for such a product and avail the maternity benefit when they start family planning.

Health insurance for senior citizens

Senior citizen can avail the benefits of a health insurance. There are few products that provide entry without any restriction of age. By opting Health Insurance, they can be relaxed from the financial burden of medical expenses. Other than the Inpatient Care, post hospitalisation services like nursing are also provided for speedy recovery.

Sum insured and premium to be paid

The premium of health insurance policies varies depending upon the type of product, plan, extent of coverage as well as sum insured and age of the persons being covered. The premium can be paid through cash/cheque/demand draft and direct online payment. There are companies which offer instalment options under their products.

Claim settlement

The insurers will give detailed guidelines to the policyholders on steps to be taken in case of a claim. In case of Hospitalisation claims, cashless facility is available in the network hospitals of the insurer, a list of which is provided to the policyholder at the beginning. If the treatment is availed at a non-network hospital, the insured has to submit the documents for reimbursement of claim.

How to purchase the policies?

One can visit the website for details of the policy and avail it. Alternatively, you can contact the nearest branch or the call centre of the insurer and they will assign a suitable official to get in touch with you to explain the product offerings.

The writer is the Principal Officer and CEO (Officiating), Future Generali India Insurance

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