6 Hidden Benefits Of Health Insurance Plans

By May 27, 2021

Medical emergencies are like unexpected guests who can knock at your doorstep anytime and require immediate attention. Hence, you must be fully prepared to handle the financial stress arising out of unforeseen health emergencies or unfortunate events like accidents. A robust health insurance cover is an apt solution to secure yourself against the burden of rising healthcare costs financially.

Moreover, some chronic health conditions, complicated surgeries, or critical illnesses require life-long care and treatment. Kidney dialysis, organ transplant, multiple sclerosis, etc., are a few examples of critical diseases whose treatment costs are high. Hence, you may have to take a critical illness policy to manage medical expenditures pertaining to these critical health conditions.

Now, let us understand a few advantages of investing in medical insurance policies.

6 Hidden benefits of health insurance plans

  1. Reimburse medical expenses

Most health insurance plans cover hospitalization expenses and pharmaceutical costs. The critical illness policies provide extensive coverage of the treatment costs pertaining to the critical medical condition for which the policy has been taken. The claims under critical illness policies are usually disbursed as lump-sum payments. 

Bajaj Finserv health insurance plan cover medical bills, pre and post-hospitalization costs, and day-care expenses. Some of their health insurance plans also cover treatment costs of pre-existing conditions like diabetes, asthma, thyroid, etc. Their critical illness policies cover costs pertaining to health complications like cancer, heart attack, stroke, paralysis, etc.

An additional benefit of Bajaj Finserv health insurance plans is that they cover transportation charges to take the insured to the hospital. Under the Bajaj Finserv family health insurance plan, you can claim ambulance charges up to Rs 20,000 in a policy year. The sum insured under Bajaj Finserv health insurance policies goes up to Rs 50 lakhs. 

  1. Network hospitals

Most of the health insurance providers have partnered with hospitals in India and abroad to ensure that policyholders get easy and timely access to quality healthcare services at discounted rates. 

With Bajaj Finserv health insurance policies, you can access a vast network of 5700+ partner hospitals across India. Moreover, you are entitled to avail of cashless treatments at the network hospitals.

  1. Tax rebates

The premiums paid on medical insurance policies are eligible for tax deductions under Section 80D of ITA. With Bajaj Finserv family health insurance and critical illness insurance, you can receive tax exemptions up to Rs 60,000 in a fiscal year.

  1. Medical check-ups

Many health insurance policies provide you medical check-ups at discounted rates or for free periodically. Under the Bajaj Finserv family health insurance plan, all policyholders can avail of free medical check-ups every 3 years.

  1. Long-term benefits

You may receive many long-term benefits from health insurance policies like policy discounts, medical test exemptions, etc. Under the Bajaj Finserv family health insurance plan, you can get long-term policy discounts up to 4% for 2 years and up to 8% for 3 years. Moreover, if you or your family members are aged below 45, then medical tests are exempted provided you submit a clean proposal form. 

  1. Value-added features

Many health insurance providers give policyholders some value-added benefits too.

For example, Bajaj Finserv health insurance plans allow you to claim hospitalization charges incurred at Ayurvedic and Homeopathic hospitals. Under their individual health insurance plans, you can receive family discounts up to 15% for 3 family members. You can avail a 10% cumulative bonus for claim-free years. 

With Bajaj Finserv accident insurance plans, this cumulative bonus can go up to 50%. Child education bonus is capped at 10% of the sum assured or Rs 5000 per child, whichever is lower, in accidental death or permanent disability of the policyholder.

Final words

A comprehensive health insurance coverage is a ‘must-have’ in your insurance portfolio. Bajaj Finserv health insurance plans are among the best in the country due to their extensive coverage benefits, faster claims processing time, and affordable premiums. Moreover, their critical illness policy covers some exceptional costs like organ donor charges, expert medical consultation fees, etc. You may visit the Bajaj Finserv website for more details.

Medical emergencies are like unexpected guests who can knock at your doorstep anytime and require immediate attention. Hence, you must be fully prepared to handle the financial stress arising out of unforeseen health emergencies or unfortunate events like accidents. A robust health insurance cover is an apt solution to secure yourself against the burden of rising healthcare costs financially.

Moreover, some chronic health conditions, complicated surgeries, or critical illnesses require life-long care and treatment. Kidney dialysis, organ transplant, multiple sclerosis, etc., are a few examples of critical diseases whose treatment costs are high. Hence, you may have to take a critical illness policy to manage medical expenditures pertaining to these critical health conditions.

Now, let us understand a few advantages of investing in medical insurance policies.

6 Hidden benefits of health insurance plans

  1. Reimburse medical expenses

Most health insurance plans cover hospitalization expenses and pharmaceutical costs. The critical illness policies provide extensive coverage of the treatment costs pertaining to the critical medical condition for which the policy has been taken. The claims under critical illness policies are usually disbursed as lump-sum payments. 

Bajaj Finserv health insurance plan cover medical bills, pre and post-hospitalization costs, and day-care expenses. Some of their health insurance plans also cover treatment costs of pre-existing conditions like diabetes, asthma, thyroid, etc. Their critical illness policies cover costs pertaining to health complications like cancer, heart attack, stroke, paralysis, etc.

An additional benefit of Bajaj Finserv health insurance plans is that they cover transportation charges to take the insured to the hospital. Under the Bajaj Finserv family health insurance plan, you can claim ambulance charges up to Rs 20,000 in a policy year. The sum insured under Bajaj Finserv health insurance policies goes up to Rs 50 lakhs. 

  1. Network hospitals

Most of the health insurance providers have partnered with hospitals in India and abroad to ensure that policyholders get easy and timely access to quality healthcare services at discounted rates. 

With Bajaj Finserv health insurance policies, you can access a vast network of 5700+ partner hospitals across India. Moreover, you are entitled to avail of cashless treatments at the network hospitals.

  1. Tax rebates

The premiums paid on medical insurance policies are eligible for tax deductions under Section 80D of ITA. With Bajaj Finserv family health insurance and critical illness insurance, you can receive tax exemptions up to Rs 60,000 in a fiscal year.

  1. Medical check-ups

Many health insurance policies provide you medical check-ups at discounted rates or for free periodically. Under the Bajaj Finserv family health insurance plan, all policyholders can avail of free medical check-ups every 3 years.

  1. Long-term benefits

You may receive many long-term benefits from health insurance policies like policy discounts, medical test exemptions, etc. Under the Bajaj Finserv family health insurance plan, you can get long-term policy discounts up to 4% for 2 years and up to 8% for 3 years. Moreover, if you or your family members are aged below 45, then medical tests are exempted provided you submit a clean proposal form. 

  1. Value-added features

Many health insurance providers give policyholders some value-added benefits too.

For example, Bajaj Finserv health insurance plans allow you to claim hospitalization charges incurred at Ayurvedic and Homeopathic hospitals. Under their individual health insurance plans, you can receive family discounts up to 15% for 3 family members. You can avail a 10% cumulative bonus for claim-free years. 

With Bajaj Finserv accident insurance plans, this cumulative bonus can go up to 50%. Child education bonus is capped at 10% of the sum assured or Rs 5000 per child, whichever is lower, in accidental death or permanent disability of the policyholder.

Final words

A comprehensive health insurance coverage is a ‘must-have’ in your insurance portfolio. Bajaj Finserv health insurance plans are among the best in the country due to their extensive coverage benefits, faster claims processing time, and affordable premiums. Moreover, their critical illness policy covers some exceptional costs like organ donor charges, expert medical consultation fees, etc. You may visit the Bajaj Finserv website for more details.