During covid pandemic taking care of health is most important. In this time, we have experienced the importance of having a health insurance plan which helps us in settling the huge medical expense. Changes in lifestyle, high levels of pollution, and many other factors have a serious impact on an individual's health. This can cause a variety of health and medical problems.

The medical costs associated with treating these illnesses are increasing rapidly. Akshar risk and insurance consultant is here to protect your finances from high medical bills, you need to invest in health insurance plans. These plans cover all hospital costs, as well as pre-and post-hospital costs.

Following are 5 advantages of a Health Insurance policy.

Coverage against medical expenses:
The main goal of health insurance is to get the best medical care possible without straining your finances. Health insurance policies offer protection against high medical costs. Among other things, it covers the cost of hospital treatment, daycare procedures, home expenses, and ambulance service costs. Therefore, you can focus on quick recovery instead of worrying about such high costs.

Coverage against critical illnesses:
Insurance providers today offer essential health insurance. This insurance policy provides coverage against potentially fatal illnesses, such as kidney failure, bone marrow transplantation, stroke, and limb loss. When diagnosing a critical illness, you may receive a fixed amount from a predefined list of policies. This amount can be used to cover treatment expenses, daily expenses, and other financial obligations related to the disease.

Cashless claim benefit:
Many insurers offer non-cash claims. With this agreement, you do not have to pay out of pocket. Hospital costs are paid by your insurance company. To take advantage of this, it is essential that you are admitted to any of the hospitals in the insurer's network. You can fill out the pre-authorization form and view your health insurance card to take advantage of the cashless option.

Additional protection above your employer cover:
Many organizations cover the health insurance policy of their employees with a group insurance plan. However, these policies are not adapted to the needs of everyone. In addition, you may be left without insurance if you lose your job or change jobs. To protect yourself from such an incident, purchase medical coverage separately.

Tax benefits:
Health care plans provide tax benefits. Premiums paid towards your health care policy are eligible for tax deductions under Section D of the Income Tax Act, 1961. The quantum of the deduction is as under:

In case of the individual, Rs. 25,000 for himself and his family
If an individual or spouse is 60 years of age or more then the deduction available is Rs 50,000

An additional deduction for the insurance of parents is available to the extent of Rs. 25,000 if less than 60 years of age and Rs 50,000 if parents are 60 years old or more.

For uninsured senior citizens who are 80 years of age or more medical expenditure incurred up to Rs 50,000 shall be allowed as a deduction. A deduction of Rs. 5000 will be allowed under this section for payment of regular health check-up of either the individual or family members which includes spouse, parents, and dependent children.

Keep these advantages in mind and choose from the best health insurance plans available in the market. Based on your personal needs and requirements, Akshar Risk guides you to select the best plan and do not miss out on the opportunity to enjoy all these benefits.