Individual Health Insurance
Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. Health insurance is a contract that requires an insurer to pay some or all of a person’s healthcare costs in exchange for a premium. It is a coverage that the insured person purchases on their own to maintain their health and take care of medical care whenever required by the insured person.
Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. The cost of health insurance premiums is deductible to the payer, and the benefits received are tax-free.
Benefits:-
- Sum Insured: – It comes with maximum sum insured of Rs. 1 crore depending on the plans.
- Cumulative Bonus: – The insured person will be eligible for cumulative bonus of the basic sum insured for each claim free year depending on the plans.
- Life-Long Renewal: – Get life-long renewal, regardless of your health status or previous claim made under your policy.
- Wider Coverage: – Include In-patient hospitalization, pre and post hospitalization, day care treatment etc.
- Add-on Covers: – You can add addition policies to enhance your coverage like critical illness policy, maternity benefits etc.
- Tax Benefits: – It offers tax savings on the paid premium under section 80D of the Income Tax Act 1961.
What is Covered
- In-Patient Hospitalization Expenses
- Day Care Procedures
- Pre and Post Hospitalization
- Domiciliary Hospitalization
- COVID 19 Treatment
- Emergency Road Ambulance
- Emergency Air Ambulance
- Alternative Treatment
- Organ Donor Expenses
- Health Check up
What is Not Covered
- Investigation & Evaluation, OPD Treatment
- Unproven Treatments, Unrecognized Physician or hospital
- Hazardous or Adventure Sports
- Intentional Self-inflicted Injury or attempted suicide
- Obesity Treatment
- Circumcision, External Congenital Anomaly
- Abuse of Alcohol or drugs
- Cosmetic or Plastic Surgery
- Dental/Oral Treatment
- HIV AIDS
- Injuries or illness due to war or nuclear perils
Waiting Periods:-
- Pre-Existing Disease: – Expenses related to the treatment of a PED shall be excluded until expiry of 36 months or 48 months depending on the plans.
- Specific Disease/Procedure waiting period: – Expenses related to the treatment of a specific diseases shall be excluded until the expiry of 24 months of continuous coverage.
- 30-days waiting period: – Expenses related to the treatment of any illness within 30 days of commencement of the first policy shall be excluded except claims arising due to an accident.
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