BENEFITS OF HEALTH INSURANCE

Heal your financial crisis

Health insurance policy is a product that protects you against the financial implications of a wide variety of health-related expenses, ranging from those caused by minor illnesses and injuries to critical diseases.

Sum Insured

It is pivotal to buy a suitable health insurance plan, choose the right sum insured, pay the applicable premium and get insured at the earliest, and we can help you with that.

Covered in one go

Occasionally you end up bearing out of pocket expenses for your family’s health check-up, viral flu, seasonal sickness and illnesses. These costs put together can weigh heavy on your pocket,

WHY HEALTH INSURANCE?

Health insurance, also known as medical insurance in South Africa, is a form of insurance that covers all or part of the risk of a person incurring medical costs. Risk, like other forms of insurance, is shared among many people. An insurer can design a regular finance structure, including a monthly premium or payroll tax, to provide the money to pay for the health care benefits stipulated in the insurance agreement by estimating the total risk of health risk and health system expenditures over the risk pool. [1] The benefit is administered by a central institution, such as a government agency, a private company, or a non-profit organisation.

  1. Medical expenditure coverage: The main goal of medical insurance is to ensure that you obtain the finest hospital attention possible while being comfortable financially. Health insurance policies provide protection against excessive medical bills. It pays for hospitalizations, day care procedures, adult care fees, and ambulance rates, among other things. You may thus concentrate on your quick recovery rather than worrying about such large expenses.
  2. Critical illness insurance: Insurance companies now provide critical illness insurance as a solo plan or as a rider. A policy of this type covers life-threatening disorders such as kidney disease, bone marrow transplant, stroke, and limb loss, among others. You are eligible to a lump sum pay out if you are diagnosed with any of the serious illnesses on your policy’s specified list. This sum may be used to cover the costs of your illness-related treatment, daily bills, and any other financial commitments.
  3. Benefit from paperless claims: Several insurance companies provide cashless claim services. You will not have to make any out-of-pocket payments under this agreement. Your insurance and the hospital negotiate the cost of treatment. To be eligible for this benefit, you must be admitted to one of the insurer’s network hospitals. To use the cashless facility, fill out a which was before form and show your health insurance card.
  4. Additional protection outside of what your company offers: Many companies provide group insurance to their employees. However, such rules are not tailored to the specific needs of each individual. Furthermore, if you lose your work or change jobs, you may be uninsured. Purchase individual health insurance to protect yourself against such an event.
  5. Tax Advantages: This insurance helps to place your health first while saving money on taxes. That’s true! Section 80D of the Income Tax Act of 1961 permits you to deduct insurance premiums paid. If you or your parents are under the age of 60, you can deduct up to Rs.25,000. However, if you or your parents are over the age of 60, you can claim up to Rs.50,000.

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