Insurance Policies: Importance, Types, Benefits

Importance of Insurance:The life and valuables are associate with some kind of risk (High, Medium, Low) in our daily routine life, but we can mitigate some sort of risk by having insurance policy.

We are going to cover the following topics:

  1. What is Insurance?
  2. How does insurance work?
  3. What are the types of insurance available?
  • Life insurance
  • Health insurance
  • Travel Insurance
  • Car Insurance
  • Education Insurance
  • Home Insurance

 

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  1. What is Insurance?

Insurance is a legal contract or an agreement between two or more parties such as first one is insurance company (insurer) and other one is individual/entity (insured). In this case, an individual or entity receives financial protection or reimbursement against losses from an insurance company.

Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or her property, or from liability for damage or injury caused to a third party.

  1. How does insurance work?

Step 1 (Insurance Policy):

A legal contract between individual and insurance company.

The insurance policy contains details about the conditions and circumstances under which the insurance company need to reimburse or pay out the insurance amount to the insurance policyholder.

A health insurance company works in the following manner –

  • Purchasing of Insurance policy – First thing is that an Individual person purchases the health insurance policy as per his/her needs.
  • Waiting Period depends on company – There is a minimum 30-days waiting period based on the policy purchased, post which health insurance policy can be claimed by policyholder.
  • Claiming Health Insurance – Health insurance policy can be claimed to pay off various medical expenses which include pre-hospitalization and hospitalization expenses. You must submit relevant documents with your health insurance policy at the hospital in order available of a cashless facility.
  • Reload of Sum Insured – Some policies offer this feature of reloading the sum insured for your health insurance policy. This is applicable when your existing sum insured is exhausted
  • Support & Service – You can contact customer care for support in case you have any queries regarding your health insurance policy
  • Renewing Health Insurance – You can renew your health insurance policy after it is expired to help you keep protected from various health risks
  1. What are the types of insurance available in India?

Insurance in India can be broadly divided into three categories:

Life insurance

As the name suggests, life insurance is insurance on your life. You buy life insurance to make sure your dependents are financially secured in the event of your untimely demise. Life insurance is particularly important if you are the sole breadwinner for your family or if your family is heavily reliant on your income. Under life insurance, the policyholder’s family is financially compensated in case the policyholder expires during the term of the policy.

Health insurance

Health insurance is bought to cover medical costs for expensive treatments. Different types of health insurance policies cover an array of diseases and ailments. You can buy a generic health insurance policy as well as policies for specific diseases. The premium paid towards a health insurance policy usually covers treatment, hospitalization and medication costs.

Car insurance

In today’s world, a car insurance is an important policy for every car owner. This insurance protects you against any untoward incident like accidents. Some policies also compensate for damages to your car during natural calamities like floods or earthquakes. It also covers third-party liability where you have to pay damages to other vehicle owners.

Education Insurance

The child education insurance is akin to a life insurance policy which has been specially designed as a saving tool. An education insurance can be a great way to provide a lump sum amount of money when your child reaches the age for higher education and enters college (18 years and above). This fund can then be used to pay for your child’s higher education expenses. Under this insurance, the child is the life assured or the recipient of the funds, while the parent/legal guardian is the owner of the policy. You can estimate the amount of money that will go into funding your children’s higher education using Education Planning Calculator.

Home insurance

We all dream of owning our own homes. Home insurance can help with covering loss or damage caused to your home due to accidents like fire and other natural calamities or perils. Home insurance covers other instances like lightning, earthquakes etc.

  1. What are the tax benefits on insurance?

Apart from the safety and security benefits of buying insurance, there are also the income tax benefits that you can avail.

  • Life insurance premium of up to ₹1.5 lakh can be claimed as a tax-saving deduction under Section 80C
  • Medical insurance premium of up to ₹25,000 for yourself and your family and ₹25,000 for your parents can be claimed as a tax-saving deduction under Section 80D.

How to choose the best health insurance policy

A health insurance floater policy of Rs 5 lakh is enough in most parts of the country but it may not be adequate if you live in a metro.

A good percentage of millennials are aware about the benefits of good health and adequate medical cover, but a large percentage still looks at health insurance as a tax saving instrument. A recent ICICI Lombard survey of 1,400 young people in the age group of 25-35 years had 75% of the respondents saying that they had health insurance.
But 46% of the buyers said that the tax deduction on health insurance premium was what made them buy the health cover. The quest for tax benefits was more pronounced among female respondents, with 64% citing it as the reason for buying the cover. The survey findings show that most people buy insurance only to save tax and not for the benefits it offers.
Even so, they are still better off than those who do not buy any insurance at all. Many people are oblivious of the risk they are exposed to if they don’t take adequate health insurance.

What is Term Life Insurance?

Term Life insurance is the purest and most cost effective form of life insurance. This type of life insurance provides financial protection to the nominee in case policyholder dies during policy term. Term Insurance policies provide high life cover at lower premiums. For eg: Premium for `1 Cr Term Insurance cover could be as low as `490** p.m. These fixed premiums can be paid at once or at regular intervals for the entire policy term or for a limited period of time. Premium amount varies basis the type of the premium payment method opted by the buyer.

List is arranged chronologically based on their recognition by IRDAI
#CompanySectorHeadquartersFounded
1Life Insurance Corporation of IndiaPublicMumbai1956
2HDFC Standard Life Insurance Co. Ltd.PrivateMumbai2000
3Max Life Insurance Co. Ltd.PrivateDelhi2000
4ICICI Prudential Life Insurance Co. Ltd.PrivateMumbai2000
5Kotak Mahindra Life Insurance Co. Ltd.PrivateMumbai2001
6Aditya Birla Sun Life Insurance Co. Ltd.PrivateMumbai2000
7TATA AIA Life Insurance Co. Ltd.PrivateMumbai2001
8SBI Life Insurance Co. Ltd.PrivateMumbai2001
9Exide Life Insurance Co. Ltd.PrivateBangalore2001
10Bajaj Allianz Life Insurance Co. Ltd.PrivatePune2001
11PNB MetLife India Insurance Co. Ltd.PrivateMumbai2001
12Reliance Nippon Life Insurance CompanyPrivateMumbai2001
13Aviva Life Insurance Company India Ltd.PrivateGurugram2002
14Sahara India Life Insurance Co. Ltd.PrivateLucknow2004
15Shriram Life Insurance Co. Ltd.PrivateHyderabad2005
16Bharti AXA Life Insurance Co. Ltd.PrivateMumbai2008
17Future Generali India Life Insurance Co. Ltd.PrivateMumbai2007
18IDBI Federal Life Insurance Co. Ltd.PrivateMumbai2008
19Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.PrivateGurugram2008
20Aegon Life Insurance Co. Ltd.PrivateMumbai2008
21DHFL Pramerica Life Insurance Co. Ltd.PrivateMumbai2008
22Star Union Dai-Ichi Life Insurance Co. Ltd.PrivateMumbai2008
23IndiaFirst Life Insurance Co. Ltd.PrivateMumbai2009
24Edelweiss Tokio Life Insurance Co. Ltd.PrivateMumbai 2011

 

What is Term Life Insurance?

Term Life insurance is the purest and most cost effective form of life insurance. This type of life insurance provides financial protection to the nominee in case policyholder dies during policy term. Term Insurance policies provide high life cover at lower premiums. For eg: Premium for `1 Cr Term Insurance cover could be as low as `490** p.m. These fixed premiums can be paid at once or at regular intervals for the entire policy term or for a limited period of time. Premium amount varies basis the type of the premium payment method opted by the buyer.

Why do you need Term Insurance?

  • Your family depends on you:The term insurance money can be used to meet your family’s monthly expenses and important goals like your child’s education.
  • Your assets need protection:You may take loans for assets like a house or a car. However, if something happens to you, your loved ones might be burdened with loan repayments. In such a situation, the term insurance payout which your family will receive can be utilized in paying off outstanding loans.
  • Lifestyle risks:Modern day lifestyle problems can lead to a host of ailments. Some term insurance plansdon’t just protect your family after death but also during your lifetime by offering critical illness ^ protection. This feature pays out on the diagnosis of certain critical ailments like cancer or heart attack.

 

Reasons to Buy Term Insurance Online

 

Who should buy a Term Insurance Policy?

Anyone with financial dependents should buy a term insurance policy. This includes married couples, parents, young professionals, SIP investors and in some cases, even retirees.

Life Insurance premiums paid are deductible from taxable income under Section 80C and hence carry a double benefit for taxpayers – protection and tax-saving. The payment (maturity value) received under an insurance policy is also exempt subject to conditions under Section 10(10D) of the Income Tax Act, 1961^^. Term insurance also has among the lowest premiums among the different types of insurance policies.

Hence, individuals who derive any of the three major benefits associated with term insurance should consider buying such policies. The three major benefits are – life protection, tax saving and affordable premiums.

 

  • Parents:

Parents are generally the sole source of financial support for their children. The needs of children extend from school fees and living expenses to hefty university fees, later on in life. The unexpected demise of a parent can jeopardize this future and deprive children of life’s opportunities. Parents must ensure that this scenario does not come to pass, by taking out a term insurance policy. This policy will pay out a lump sum and/or income to satisfy their children’s expenses, in the event of the death of the parent(s).

  • Newly-married:

Roses, chocolates and movie tickets are great, but here’s a truly long lasting gift for your spouse – term insurance. This gift will give your spouse more than momentary joy, it will secure their life’s future. Term insurance assures the spouse of financial support in case the insured person passes away and should be purchased as soon as possible by married couples.

  • Young Professionals:

Young professionals are just starting their careers. Many of them are not yet married and have no financial dependents. However this is likely to change in the future as they get married or support their parents/relatives. Such individuals should buy term insurance now rather than wait. This is because once a policy is purchased, the premiums stay the same throughout an individual’s life. On the other hand waiting to buy term insurance in the future can force customers to pay higher premiums because term insurance premiums rise with age.

  • Taxpayers:

Term insurance premiums paid are allowed as deduction from taxable income under Section 80C of the Income Tax Act, 1961^^. The term insurance payouts on maturity are also exempt from tax subject to conditions under Section 10(10D). Hence taxpayers can use term insurance to significantly reduce their tax burden.

  • SIP Investors:

Investors in mutual fund SIPs (Systematic Investment Plan ) invest a fixed amount every month in a mutual fund. The wealth creation in an SIP is driven by a stream of regular installments which compound over time. However the untimely demise of the investor can stop the flow of installments. Term Insurance can protect the SIP by providing the nominees of the insured person with funds to continue the SIP.

  • Retirees:

Retired persons need to have term insurance if they have dependant spouses or families. Buying term life insurance can also be a way of leaving an inheritance for their families. This is because, term insurance is paid out to nominees on the death of the insured person. The payment of term insurance is also tax free subject to conditions under Section 10(10D) of the Income Tax Act,1961^^.

Term Insurance – Benefits

  • High Life Insurance Amount at affordable premiums:Term insurance plans provide large amount life insurance cover at an affordable premium. This cover can compensate for several years of lost earnings.
  • Cover Against Critical Illnesses^:Along with providing life cover, a new-age term plan like ICICI Pru iProtect Smart also provides protection against critical illnesses. For a small additional premium, Critical Illness Cover provides lump sum payments when a critical illness like a heart attack, cancer, kidney failure etc is first diagnosed.
  • Support In Case Of Disability##:In new-age Term plans such as ICICI Pru iProtect Smart, the insurance company pays your future premiums in case of total and permanent disability. As a result, your life insurance cover continues even if you are unable to pay premiums.
  • Additional Security:To increase the security of your family, a Term Policy provides additional pay-out (up to `2 crores) in case of an accidental death+. For example, if your Life Cover is `1 crore, a Term Insurance plan with Accident Cover pays `2 crores to your family in case of an accidental death+.
  • Tax Benefits:Term Insurance plans offer tax benefits^^ on premiums paid up to `46,800 under Section 80C. New-age Term plans with critical illness cover also offer additional tax benefits on premiums paid up to `7800 under Section 80D. You also get tax benefits^^ subject to conditions under Section 10(10D) on the money that your family receives in case of an unfortunate event.

How to choose Best Term Insurance Plan?

While buying a Term Plan, we always have questions like which Term Plan is best and how to compare the best Term Life Insurance Plan. Here are some parameters which may help you choose the Best Term Plan for yourself:

  • Claim Settlement Ratio:This ratio tells you how many claims for life insurance have been paid out as a proportion of claims made. The higher this ratio is, the better.

Fact: ICICI Pru Life has a claim settlement ratio~ of 98.6%

  • Solvency Ratio:Solvency ratio tells you whether the insurer you choose will be financially capable of settling your claim if the need arises. IRDAI mandates that every life insurer should maintain a solvency ratio of at least 1.5.

Fact: ICICI Pru Life has a solvency ratio$ of 2.52

  • Option to add Critical Illness Benefit^: A critical illness like cancer or brain surgery can cost a lot of money and cripple the family’s finances. Critical illness protects your family from this risk. It pays out immediately on diagnosis and only medical documents confirming diagnosis are to be submitted3.

Fact: Critical illness covers with term insurance plans are very popular. One in three of our customers also attach a critical illness cover to their term plan`.

  • Option to add Accidental Death Benefit+:If you have opted for Accidental Death cover, your family will get additional pay out in case of death due to an accident, subject to maximum of `2 crore.
  • Waiver of Premium on Terminal Illness##In case the person covered by the policy gets affected by terminal illness, his/her future premiums will not need to be paid.

 

Why Choose our Top selling Term Plan – ICICI Pru iProtect Smart?

  • It fits in your tight budget:After paying your monthly rent, phone and light bills, a term insurance premium can be difficult. ICICI Pru iProtect Smart’s affordable premiums make sure it isn’t.
  • It gives you longer cover:The best time to buy life insurance is now. Buying now will ensure that you get life cover at low premiums for the desired term. ICICI Pru iProtect Smart can cover you till the age of 85 and you also have option to get whole life insurance till age 99.
  • It gives you option to cover 34 critical illnesses^:ICICI Pru iProtect Smart pays on the diagnosis of any one of 34 critical illnesses. No hospital bills are required3.
  • It provides you option of lump sum or income: ICICI Pru iProtect Smart allows your family to get their life insurance payout as a lump sum, income or a combination of both. A lump sum payment is a single payment made to the nominee on the death of the insured person. An income payment is a series of annual or monthly payments, made to the nominee on the insured person’s death. The latter option can save your family from the hassle of managing and investing a large sum of money.
  • It gives you accelerated pay out in case of terminal illness##:ICICI Pru iProtect Smart pays out your insurance cover even before death, if you are affected by a terminal illness.
  • It provides you Protection against other claims:You can buy the insurance policy under the Married Woman’s Property Act++. This protects the money paid under the policy from other claims. It thus provides an additional layer of protection to your family.

Top 10 Health Insurance Plans to Consider in 2019

When it comes to choosing the best health insurance plan for us or our family, for most of the time, we all are clueless. We generally can’t fix a particular health insurance when we consider buying one. To take this load off of your shoulder, I’m going to give you a glance at the top 10 best health insurance plans that you must consider buying in 2019.

In today’s world, you can’t really deny the significance of having health insurance. The price of medical treatment is rising at full pace on a daily basis and you can’t really predict your hospital bills.

However, when it comes to mediclaim policies, the market is already packed with different options to explore and it’s completely up to you to pick the desired health insurance plan intelligently. And we can understand that it can be a tough job for you. So, to provide you with ease I’m giving you a list of top 10 health insurance policies you can consider buying in 2019.

 

  1. Religare Care Health Insurance Plan

This is basically a comprehensive health insurance plan. Let’s find out the special features of this plan as to why it’s among the top 10 health insurance plans in 2019.

  • The policy has been designed to help you and your family during a medical emergency.
  • This health insurance plan comes out with no upper age limit bar. Now this means that it can be applied to a 100 years old person or individual.
  • Religare care offers free health check-up once every year, regardless of claims filed, to individuals of age 18 years and over.
  • This health plan provides no claim bonus (NCB) super add-on cover which makes no claim benefit equivalent to 60% of the Sum Insured.
  • The policy comprises a number of specific treatments that can be done anywhere in the world for Sum Insured of INR 50, 00,000/- and above.
  • It covers ICU charges, ambulance charges, room rent, domiciliary expenses, day care procedures, medical check-up and pre and post hospitalization expenses.
  • The policy also covers every hospital expense incurred.

 

  1. Aditya Birla Active Assure Diamond Plan

Active Assure Diamond Plan from Aditya Birla comes at an affordable premium. This health insurance plan offers a range of benefits as well as extensive coverage. This health plan has been designed to provide you comprehensive health coverage. Some of the unique features and benefits of this health insurance plan are listed below.

  • This health insurance plan offers refill of the Sum Insured, in case the Sum Insured and No Claim Bonus (NCB)/Super No Claim Bonus is exhausted.
  • Under this plan, an insured can get up to 150% of additional Sum Insured (Rs. 50 lakhs at the highest) for hospitalization in case of an unrelated illness.
  • It offers coverage for alternative treatment procurers like unani, ayurveda, homeopathy and siddha for a pre-decided limit.
  • Covers the pre-hospitalization expenses for 60 days and post-hospitalization expense for up to 180 days.
  • The plan will also cover personalized coaching by health professional who will instruct and guide the insured person in case they’re suffering from hyperlipidemia, hypertension, diabetes, asthma etc.
  • Aditya Birla Active Assure Diamond Plan covers a second opinion for a major critical illness like kidney failure, heart attack, cancer etc from a doctor of a network hospital.

 

    1. Apollo Munich Optima Restore Family Health Insurance Plan

Apollo Munich’s Optima Restore Health Insurance Plan is basically a comprehensive policy that comes with useful features like the Restore benefits. Let’s find out some of the unique features and benefits of this plan below.

  • This policy has been designed to offer better coverage. The minimum Sum Insured itself is around 3 lakhs.
  • This health plan automatically gives back the basic Sum Insured in case it is completely exhausted during a policy year.
  • In case the coverage is used up, the Sum Insured is restored back at no additional cost.
  • The policy also comes with a multiplier benefit in case policy claimed has been filed.
  • The multiplier benefit under this plan doubles the Sum Insured in 2 claim free years
  • You can get coverage for up to Rs. 50 lakhs by paying a higher premium with this health insurance plan.
  • The policy also comes with children cover. It can cover children as young as 5 years.
  • The maximum age to buy this policy is restricted at 65 years. However, the policy can be renewed throughout your life in a hassle free way.
  • There’s a waiting period of 3 years before you can get coverage for pre-existing diseases.

 

  1. Cigna TTK ProHealth Plus

Cigna TTK ProHealth Plus health insurance plan has been formulated to give you value for money. The coverage that is offered under this plan is extensive while the premium payable affordable.

  • You can avail benefits such as premium discounts, health-related rewards, wellness packages etc under this plan
  • This health insurance plan offers a flexibility of Sum Insured among four options: Rs. 4.5 lakhs, Rs. 5.5 lakhs, Rs. 7.5 lakhs and Rs. 10 lakhs on the basis of the needs of the insurer.
  • Cigna TTK ProHealth Plus plan provides pre-hospitalization expenses cover for up to 60 days and post-hospitalization expenses cover up to 180 days following hospitalization.
  • This health insurance plan also provides an emergency medical coverage across the world. In case you are traveling abroad, you can avail this benefit up to the Sum Insured and it will be reimbursed by the insurer.
  • It offers repayment of Rs. 2,000/- for out-patient treatment charges like doctor’s consultation fees, pharmacy expenses etc on yearly basis.
    1. Star Family Health Optima

Family Health Optima health insurance plan from Star Health Insurance has been formulated to offer protection for the entire family in exchange of a single premium payment under a floater Sum Insured. Some of the unique features that have given him a spot in the top 10 health insurance plans in 2019 are following.

  • The policy offers compensation against Health Checkup expenses for up to Rs. 5,000/- once every 3 years of the policy coverage
  • Under a single plan, this policy offers wider coverage for the whole family and that too at a reasonable premium.
  • Comes with a 100% automatic restoration of total Sum Insured
  • The policy covers new-born baby from 16th day of birth
  • You can avail extra Sum Insured (auto recharge) without any additional cost, up to 30% of Sum Insured.
  • It covers over 400 day care procedures
  • For treatment exceeding three days, Domiciliary Hospitalization Expenses are covered.
  • The coverage is expended to hospital charges, ambulance expenses, in-house treatments etc.
  • In case the Sum Insured is exhausted, it will be automatically restored. You can avail 3 auto-restorations in a single policy period.
  • Star Health Insurance is associated with more than 6000 network hospitals.

 

  1. Bajaj Allianz Family Floater Health Guard

Bajaj Allianz Health Guard health insurance policy is one of the best health plans from Bajaj Allianz General Insurance Company. The policy provides total coverage against health expenses. Some of the unique features of Bajaj Allianz Health Guard policy are mentioned below.

  • This health insurance plan offers cashless facility through 4000+ network hospitals all over the country.
  • The policy comes with a lifelong renewal facility.
  • This health insurance plan offers coverage for pre-hospitalization expenses for 60 days and post-hospitalization expenses for 90 days.
  • Organ donor expenses and daycare expenses are covered under this plan.
  • Under this plan you can enjoy daily cash benefits.

 

  1. Max Bupa Health Companion

Sometimes an unforeseen illness can consume your hard earned lifelong savings, and force you in debts. Max Bupa Health Companion plan has been formulated to deal with all such health contingencies by securing you and your loved ones with a reliable health insurance policy. Some of the unique benefits and features of this plan is mentioned below.

  • Max Bupa Health Companion plan comes with 3 variants: individual, family floater and family first.
  • This health insurance plan offers comprehensive coverage up to Rs. 1 Crore Sum Insured.
  • The policy covers all day care treatments.
  • It also covers domiciliary treatment and organ transplant expenses.
  • For additional coverage the plan offers smart Top-up options
  • Cashless treatments can be availed at more than 3500 network hospitals associated with the insurer
  • If you opt for a two-year policy tenure you can avail 12.5% discount on second year’s renewal premium
  • You can avail hospital cash benefits in addition to the in-patient treatment benefits.

 

  1. HDFC ERGO Health Suraksha

Health Suraksha plan from HDFC ERGO comes with a number of special features and benefits. Find them out below.

  • There’s no restriction for the maximum age of entry under this plan.
  • This health insurance plan is preferably suited for senior citizens who want to take a new policy at that age.
  • The minimum entry age of this policy is fixed at 3 years.
  • The coverage that is offered under this plan is in the range of 3 lakhs to 7.5 lakhs. This can be a good option for people under the middle-income group.
  • You will have to wait for 4 years from inception of policy before you can coverage for pre-existing diseases.
  • The best part about this health insurance plan is that you can get a discount of 5% on the premium for every year in which you do not file any claim.
  • You can renew the policy throughout your life without any hassles.

 

  1. Oriental Insurance Happy Family Floater Policy

Oriental Insurance Company being one of the public sector general insurance companies offers effective health insurance plans. Happy Family Floater health insurance plan from Oriental Insurance Company offers extensive coverage and benefits.

  • This health insurance plan offers coverage for children as young as 3 months.
  • The maximum age limit of this plan is set at 55 years.
  • The coverage that comes with this plan ranges from Rs. 1 lakh to Rs. 10 lakhs. This certainly provides various number flexible options so that you can choose the appropriate cover as per your health requirements.
  • This health insurance plan is ideally suited for family
  • You can choose to bring a maximum of 8 members under a single plan.
  • The waiting period is 28 months in order to avail coverage for pre-existing diseases under this plan.
  • You can avail attractive discounts of up to 20% if you have filed no claims for the entire policy period.

 

    1. SBI LifeSmart Health Insurance Plan

LifeSmart Health Insurance Plan from SBI General offers extensive coverage and benefits. Find out some of the major features of the policy below.

  • This health insurance plan offers coverage for individuals in the age group of 18 years to 65 years.
  • In case of coverage for children, the minimum age of entry is set at 3 months. This can be a huge advantage for parents looking for coverage for newborn babies.
  • The policy offers coverage in the range of Rs. 1 lakh to Rs. 5 lakhs.
  • You can cover as many as 6 members under this health insurance plan if you purchase this plan for your entire family.
  • For pre-existing conditions the waiting period is just 28 months.
  • The exclusive feature of this health insurance plan is that the premium does not increase even if you have filed any claim and this will remain static for the period of 5 years.

Final Words

Well, these are the top 10 health insurance plans you should consider for your future health requirements. When you secure yours or your family’s health with the best health plan you need not worry about paying heavy medical bills.

A small amount of premium that you will pay now will come back with unimaginable benefits. Health insurance plan will provide benefits in the long run. You can’t deny the importance of having the best health insurance plan. Everyone is well aware of the saying ‘Health is Wealth’. So, let’s just do our bit shield ourselves for the future given that emergencies can occur at any point of time.

Also keep in mind that there are various categories of health insurance that are available in the market. Concurrently, it is uniformly imperative to select the right health insurance plan which fulfills all your needs and matches your budget.

A mediclaim policy is the most protective cover that will defend your savings in the event of a health emergency and will let you recover peacefully. In order to unearth the best health insurance plan in India that suits you and your family, don’t forget to compare different health insurance policies on the basis of your family’s needs.

 

 

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