| | NOVEMBER 20219and others. Most health insurance policies cover a specific number of procedures. The exact details are mentioned in the policy documents.Domiciliary Hospitalization Charges: Domiciliary hospitalization charges incur because of the treatment done at home, which might have needed hospitalization otherwise. Most health plans provide coverage for these expenses. But one must find the terms and conditions in the policy documents.Cashless Treatment: Most of the health insurance companies tie-up with some hospitals called network hospitals. One can avail cashless treatment only in these network hospitals. When a person wants to get treated at a non-network hospital, they have to pay the bills. The insurance company can reimburse the charges. But for this, one has to claim. It is crucial to note that a claim can be approved depending on the terms and conditions in the policy documents.Portability Benefits: Health insurance policy portability helps the policyholder to transfer the existing plan to a new insurance provider. This makes insurance companies prioritize the policyholders' needs and not take them for granted and safeguard their interests. It also offers policyholders flexibility in choosing a better option when they are not satisfied with the current plans.Medical Costs are Rising: Medical expenses are rising in India. So, it has become imperative to purchase a reliable insurance policy. These policies provide financial security in an emergency. Thus, health policy not only reduces stress, but also provides protection. There are various cancer insurance policies available that can help to manage the rising costs.Income Tax Exemptions: The government is promoting Health Insurance by providing tax deductions. According to Section 80D, one gets tax exemptions on their premium paid.Lifetime Renewability: Most insurance companies allow lifetime renewability to their policyholders, especially if they are senior citizens. IRDAI has provided guidelines to the insurance companies to provide this benefit.No Claim Bonus: Most insurance companies provide no claim bonus to their policyholders who do not make claims in the policy years as a reward. This is also called a cumulative bonus and is applicable for individual plans and family health plans. But one has to remember that there is no coverage limit extended through a no claim bonus.How To Purchase A Health Policy?You have seen all the benefits of buying a policy. Now let us see how to purchase it. One can buy a policy online. To choose the best health insurance plans, one has to compare several policies available. The calculator helps to give you the coverage needed depending on your requirements. It is not only easy to use a calculator, but also time-saving.You need to provide inputs such as age, gender, occupation, income and other data. After calculating the cover required, it also provides you with several options available, and you can choose accordingly. It is always good to buy a policy online, where you get the flexibility of payment, an opportunity to compare different policies, and many more advantages.The best health insurance plans provide various benefits. So, you not hesitate to buy one. Choosing the right policy at an affordable premium is the key. The golden rule is to start early. MOST INSURANCE COMPANIES PROVIDE NO CLAIM BONUS TO THEIR POLICYHOLDERS WHO DO NOT MAKE CLAIMS IN THE POLICY YEARS AS A REWARD, WHICH IS APPLICABLE FOR INDIVIDUAL PLANS AND FAMILY HEALTH PLANS
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