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About Health Insurance
Health insurance covers cost of an insured individual’s medical and surgical expenses. Subject to the terms of insurance coverage, either the insured pays costs out-of-pocket and is subsequently reimbursed or the insurance company reimburses costs directly.
About Health Insurance
Health insurance covers cost of an insured individual’s medical and surgical expenses. Subject to the terms of insurance coverage, either the insured pays costs out-of-pocket and is subsequently reimbursed or the insurance company reimburses costs directly.
What is Health Insurance?
Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. It reimburses the expenses incurred due to illness or injury or pays the care provider of the insured individual directly.
Need for Health Insurance
Medicare or medical costs are rising year on year. As a matter of fact, inflation in Medicare is higher than inflation in food and other articles. While inflation in food and clothing is in single digits, Medicare costs usually escalate in double digits.
For an individual who hasn’t saved that much money, arranging for funds at the eleventh hour can be a task. This is particularly daunting for seniors, given that most ailments strike at an advanced age.
One way to provide for health-related / medical emergencies is by taking health insurance. Health insurance offers considerable flexibility in terms of disease / ailment coverage. For instance, certain health insurance plans cover as many as 30 critical illnesses and over 80 surgical procedures. The insurance plan disburses the payment towards surgery/illness regardless of actual medical expenses. The policy continues even after the benefit payment on selected illnesses.
With health insurance, you are assured of a more secure future both health-wise and money-wise. This makes health insurance policies critical for individuals, especially if they are responsible for the financial well-being of the family
Buying the Right Health Insurance Cover:
As per the latest report released by National Sample Survey Organization (NSSO) titled “Key Indicators of Social Consumption in India: Health”, only 20 percent of the Indian population had health insurance coverage. Additionally, only 18 percent of the total population residing in urban areas and 14 percent of the total population residing in rural areas had any form of health insurance coverage.
Thus, there is no debating the importance of having insurance in a country like India where medical expenses are sky-rocketing. Everyone must buy a good health insurance policy that includes medical costs, hospitalization costs, medication and laboratory test costs, including critical illness. Don’t get confused with questions like – Which health policy to buy? Does it cover every eventuality? What illnesses are excluded from this cover? VR Creators offers a resolve all such confusions.
Individual Health Insurance Plan
Individual Health Insurance Plan: This type of health insurance provides coverage to an individual against certain illnesses, offering advantages like cashless hospitalisation, reimbursement, coverage of pre-hospitalisation and post-discharge expenses and various add-ons. The entire sum assured is available for only one individual.
Family Health Plan: Family Insurance. A family health insurance plan will cover you, your spouse and your children in the event of any injury or illness occurring. … Our family health insurance plans are suitable for all ages and occupations, and are annually guaranteed renewable.
Senior Citizen Health Plan:Senior citizen health insurance plan is a necessity, especially when you are planning to retire and live on pension or interest income from savings. Our senior citizen health insurance policies are for people who are between 60 to 75 years old with lifelong renewal option.
Top-up/Surplus Plan: These plans aim to do what their name promises, top-up or increase your coverage amount. Top-up plans can be taken as supplementary plans for enhancing the coverage at very minimal costs. There is a concept of ‘deductible limit’ in the plan which is the threshold up to which the plan will not meet your claim. If the claim exceeds the deductible limit, the plan is triggered and the excess is paid. These plans prove beneficial if you already have an existing mediclaim plan either provided by your employer or bought by yourself and the deductible limit of the top-up plan coincides with your base Sum Assured under the mediclaim plan.
For instance, For a claim of Rs.1,25,000 in your mediclaim plan of Rs. 1 lakh, if you would have bought a top-up plan of Rs. 2 lakhs with a deductible limit of Rs. 1 lakh, the additional claim of Rs. 25, 000 would have been met by your top-up plan
Personal Accident Plans:
Personal Accident Plans: The policy compensates the nominee with a fixed sum insured in the event of accidental death of the policyholder whereas in case of partial or total permanent disability, compensation is in the form of fixed sum insured, as per the scale provided in the policy.
Critical Illness plan: Plans which are gaining popularity, critical illness plans provide specialized coverage against a list of specified critical illnesses. Although the list of illnesses covered varies from plan to plan, yet on the diagnosis of any of the covered illness, the insurer pays a lump sum amount to the policyholder irrespective of the subsequent treatment costs.
VR Creators Association:
Our affiliation for health Insurance include all best private & PSU general insurance companies enabling us to offer the best plans at best price as per ones requirement.To name a few such as Star Health Insurance, India’s first standalone health insurance company.HDFC ERGO a leading private player and United India one among the top PSU general insurance, LIC of India world’s no.1 Insurer and many more.
