Health is our most valuable asset. A healthy body harbours a healthy mind allowing us to live life to the fullest, fulfil our responsibilities, and chase our dreams. However, we live fast-paced lives and are prone to lifestyle-related diseases, illnesses, accidents, or other health risks that can bring our lives to a grinding halt. With increasing medical and hospitalization costs, a medical emergency can cause a heavy burden on our finances too. While living life is about keeping ourselves healthy and fighting through any illnesses or diseases, a health insurance policy helps us protect ourselves financially during such times.

What is health insurance?

When you buy health or a medical insurance policy, the insurance company guarantees to reimburse the medical costs incurred by the policyholder if he gets hospitalized due to an illness or an accident. The insurer also ties-up with several hospitals and speciality clinics to ensure that the policyholder can avail cashless treatment.

Types of Health Insurance policies

Most insurers like Tata AIG offer multiple types of medical insurance policies to cater to different types of individuals and/or requirements. Here are some common types:

  • Medical insurance policies for individuals
  • Policies focused on senior citizens
  • Women-focused plans
  • Health insurance plans that offer cover only for specific critical illnesses like cancer, heart attack, etc.
  • Plans for maternity
  • Health insurance policies for personal accident cover
  • Group insurance policies for corporates

How to buy medical insurance online?

A comprehensive medical insurance policy helps avoid financial worries during an illness or any medical emergency. There are several options allowing you to purchase medical insurance online that offers a comprehensive cover during such emergencies.

Every insurance company has certain eligibility criteria. Usually, for adults, the age limit is between 18 and 65 years while some special plans are offered for people above 65. Also, for children, the age limit is 90 days to 18 years. You might also have to provide certain documents like address proof, identity proof, proof of age, and a medical check-up if the policy demands. This check-up is usually to identify any chronic illness that you are suffering from before buying the policy.

Here is a quick look at the process to purchase medical insurance online:

  • Research your options and determine the best health insurance policy for you
  • Login to the website of the insurance company
  • Complete and submit the online application form
  • Upload the required documents
  • Make the payment

You might have to visit a registered hospital, clinic, or testing lab to get the medical check-up done (if needed). Once these steps are completed, you are covered under the health insurance policy!

Why you need health insurance?

While most people understand the importance of a comprehensive health insurance policy, here are some top reasons to help you make the decision:

  1. Better financial planning – We cannot predict illnesses or accidents. However, we can plan to manage the medical/hospitalization costs efficiently. A medical insurance plan ensures that in the event of such mishaps, you are not financially burdened.
  2. Increasing health risks– Most of us are guilty of not leading healthy lives. Stressful working conditions, unhealthy eating habits, pollution, high-traffic conditions, etc. have made us prone to a range of lifestyle-related disorders and other health risks.
  3. The rising cost of healthcare– In recent years, medical costs have seen a steep increase in prices. Hence, a medical emergency can easily eat through your savings and/or burden you with a loan.
  4. Pre and post-hospitalization benefits – Most health insurance policies also cover out-patient department expenses, tests, and all pre and post-hospitalization costs.

Exclusions of a health insurance policy

Typically, health insurance policies do not work in the following situations unless specified otherwise:

  • Cosmetic or plastic surgery unless it is deemed necessary as a part of a medical treatment
  • Rehabilitation or sanatorium treatment
  • Hospitalization due to nutritional or electrolyte or other enteral feedings
  • Any unproven or experimental treatments

Apart from these, there are some non-medical exclusions like any diagnostic test or X-ray that is not consistent with the primary treatment. Also, if you avail of any personal comfort items like television, internet, guest service, etc. the charges will not be covered under the health policy.

Summing Up

Remember, health insurance is important in ensuring that you manage any medical exigencies without burning a hole in your pocket. With most insurers offering medical insurance online, you can choose a policy that is comprehensive and takes into consideration your lifestyle and specific health risks.

There are several options available with the policy covering hospital, as well as, non-hospital services and alternative therapies too. Avoid the temptation to opt for a policy having the lowest premium as it might impact the costs it can cover during a medical exigency. Look for a comprehensive plan that is cost-efficient and does not leave you stranded when you need it the most. Research well, compare plans and consider all aspects before signing the dotted line. Remember, the right health insurance plan can help you stay healthy too.