In the absence of any tie-up, i.e. if the remedy is availed at a non-community hospital, then the insurer reimburses the medical expenses to the policyholder. Medical Insurance Plan Term Insurance Plan The medical expenses incurred by the life insured as a result of an unintended harm or sickness are reimbursed by the insurer upon hospitalization. The sum assured is paid to the nominee or beneficiary upon the demise of the life insured. With a health insurance plan, you’ll be able to avoid taking a loan or using your financial savings to pay for medical bills. With a term plan, you’ll be able to secure the way forward for your dependents. Premium charges for health insurance plans range relying upon the policyholder’s age. Insurance premiums for time period plans are fixed throughout the policy term.
There are numerous advantages of having a medical health insurance plan. Besides providing you with the insurance protection for medical expenses, a medical health insurance plan offers peace of mind by providing financial stability in occasions of emergencies. It ensures that you simply get timely and required medical therapy. It also helps you avail tax benefits beneath Section 80D of the Income Tax Act, 1961. …