Health And Car

Health Insurance is a contract by which the insurer pays for the hospitalization and treatment expenses to the insured, to a limit depending on the chosen Sum Insured for a medical treatment or an injury. In return, the insured pays a regular premium to the insurer.

It covers

-	Room rents: There may or may not be limits to the per day boarding charges. It varies from one policy to the other.
-	Cashless hospitalization: To a limit that is different from the type of illness / treatment and from one policy to the other.
-	Ambulance charges: some insurers do not cover this.
-	Pre and Post - hospitalization expenses
-	Daycare expenses: This also varies from one insurer to the other.
-	In patient treatments: Usually includes Doctor, consulting, ICU, procedure/operation, diagnostic test,radiology, anesthetists, surgical material costs etc.

Individual Plans: It covers hospitalization expenses for an individual insured person. The reimbursement depends on the limit of Sum Insued.
Family Floater Plans: This is an indemnity plan like an individual plan, wherein the Sum Insured floats around the members covered. That means any member who is hospitalized can avail the sum insured and is not restricted to just one individual. Interestingly, the premium paid for a floater plan works out to be less than paying for each member with a separate individual policy!
Critical Illness Plan: It is a form of defined benefit plan which extends an coverage against a serious illness like cancer, kidney failure, stroke etc. Unlike the other reimbursement plans, the entire Sum Insured is paid in the event of such a disease.
Daily Hospital Cash Benefit: This benefit is provided as a lumpsum payment based on the actual number of days spent in the hospital (as an inpatient). It is paid directly to the insured soon after the discharge from the hospital (after the case is duly scrutinized as per the terms and conditions of the policy)
Unit Linked Health Plans: This is a combination of Health Insurance and a level of Investment. Under this plan, an amount is paid back to the insured by the end of the policy term.

Healthcare costs are very high and are going to touch new heights in the coming days. At the time of illness, you have to pay out of your pockets which might amount to huge expenses. A health insurance policy comes handy in reducing the financial impact as well as the mental stress associated with an illness. In addition,

-	It helps to get you timely medical treatment
-	Brings about a sense of security in you and your family.
-	Offers value added services like health check-ups, doctors’ second opinion, health and wellness awareness, discounts on consultations and other medical services etc

-	Tax benefits on the premium paid under section 80D.

HEALTH INSURANCE