Importance of Medical Insurance in India

We are living in an era where the threats to our health are increasing every day. And so is the cost of medical treatment. Today, a single major medical treatment can literally break your bank and burn through your life’s savings. Because of this, medical insurance plans are slowly becoming a necessity for every Indian citizen. You need to be prepared for all kinds of accidents and health complications. After all, you will never want to put your whole family’s finances on the verge of collapse because of one unfortunate medical complication. In this article, we will discuss why health insurance plans are important and how they can benefit you. Let’s dig in.

Why is Medical Insurance Important?

Accidents and health complications can show up at any time. And if you are not prepared to tackle them, you will be in a deep crisis. The coronavirus pandemic has already shown us how fickle our lives can be in the face of an unexpected threat. That’s why getting the right medical insurance policy should be every Indian’s top priority to save themselves and their family members in case of a medical emergency.

Here are some of the most crucial factors that show how important purchasing a proper health insurance plan is.

1) Protect Your Loved Ones:

A proper health plan will help you protect your family in the case of a sudden medical crisis. The family health plans cover the cost of transportation, treatment, and post-treatment diagnosis of the policyholders’ family. Thus, you must get a family health plan, especially if you’re the only person with a reliable source of income.

Assess plans from different insurance companies to get the best mediclaim policy. These health plans will provide your family with great medical and financial support, especially for aging parents who require solid and efficient healthcare.


2) Cope with the Changing Lifestyle:

More and more people are suffering from multiple medical complications at a young age because of the environment and the recent changes in our lifestyles. Factors such as daily work stress, pollution, junk food, and other habits often result in a multitude of medical conditions out of the blue.

Getting a suitable medical insurance plan should be your first priority in dealing with these unforeseen health problems. After all, even if you eat healthy food and exercise daily, the stress from work and the polluted air is putting your health at risk even now. Therefore, check different health plans from the best medical insurance companies to get the right health coverage as soon as possible.


3) Keep the Savings Safe:

A sudden disease or ailment can put you under severe mental and physical stress. And if you didn’t plan a separate budget for medical emergencies, this sudden illness can potentially suck your life’s savings dry. To protect your savings and get proper financial aid during an unforeseen medical crisis, buying a health insurance plan is absolutely necessary. This way, you can treat your health problems and save your savings, which you can later use to buy a house, finance your child’s education, or do something else.


4) Deal with the Rising Medical Cost:

The cost of medical treatment in India has been increasing exponentially over the last decade. Not only that. The number of people who are suffering from critical ailments is also increasing with every passing year. With the increasing demand for medical treatment and the inflation in the cost of medicines and equipment, you must get the best medical insurance plans to avoid being financially crippled after a few hospital visits.


Benefits of Getting an Appropriate Health Insurance Policy:

Although a health insurance policy seems like a forced necessity, there are many benefits that you can enjoy as a policyholder. Let’s take a look at some of the biggest benefits of purchasing an appropriate medical plan.


1) The Primary Insurance Coverage:

Buying a health insurance policy allows you to enjoy various benefits that come with primary insurance coverage. One of the biggest benefits is getting admitted to any hospital affiliated with the hospital network of the insurance company and receiving immediate treatment after the cashless claim settlement.

It means that you can directly receive treatment from some of the best hospitals and doctors without any upfront payment. The cost of your treatment will be settled later between the insurance company and the hospital. The best medical insurance policies in India also offer free emergency transportation, health check-ups, hospital rooms, and much more.


2) Extra Layer of Protection:

Most corporate companies opt for group health insurance policies to cover the medical bills of their employees. But the standard health plan offered by the company might not cover the total cost of an individual’s medical treatment. This is why you need to purchase your own health plan that will cover the medical needs of you and your family members. Nothing is more important than your safety. Don’t depend on your company’s health insurance completely, and get your own health plan from the best health insurance companies.


3) Tax Benefits:

The preparation for the future must not put a strain on your income. It’s important to get proper medical insurance, and the Indian government understands it. That’s why the Indian government provides families with health plans with a certain set of tax benefits. Check Section 80D of the ITC, 1961, to see what kind of tax benefits you can receive for buying a medical insurance policy.



You must prioritize your health above everything else. And many people do it by eating the right food, doing more exercise, and following the right hobbies. But no matter what you do, the pollution and the work stress are still going to affect your health. While you can’t really prevent an illness, which you never saw coming, you can take several precautionary measures to deal with it quickly. With a health insurance policy, you can do just that. Browse through the best medical insurance plans the insurance companies have to offer and select one that suits your needs.

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