Health insurance is the insurance which protects us from any health emergencies & incurred hospitalization expenses. In this busy and hectic life everybody should have a health insurance policy, of their own, which can be very useful in emergencies. Health insurance is also known as mediclaim policy.

Why is mediclaim policy needed?

  • Every human suffers from some illness or injury in his/her lifetime.
  • Emergencies or illness come without giving any warning.
  • There are no good facilities in government hospitals whereas private hospitals are too expensive.
  • Doctor’s fees, diagnostic charges as well as the medicines’ values are too expensive. Health is wealth.

When should we take mediclaim policy?

Young age. Yes, this is the right reply for this question because the premium tends to increase with age and insurance companies give ‘no claim bonus’ for every year in which no claim is taken against the insurance policy. Also, this policy comes with tax benefit of 80D of The Income Tax Act, 1961, which is an additional incentive to the individual.

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