5 ways in which health insurance is beneficial apart from times of medical emergencies

5 ways in which health insurance is beneficial apart from times of medical emergencies

Health insurance is an investment that is a must-have. Whether you are thinking about investing on behalf of your baby, investing for yourself or your spouse, or investing for your parents, this is a policy that is beneficial to everyone.  Many believe that the policy is the most beneficial when a medical emergency occurs, and therefore put off investing in it, believing that they have many years to go before their health begins to fail rapidly. This is not true. Here are some ways in which health insurance is beneficial apart from times of dire medical emergencies:

5 ways in which health insurance is beneficial apart from times of medical emergencies

1. Health insurance covers pregnancy

 

Many people in India believe that insurance companies do not provide coverage for pregnancies as these are costs that are waiting to happen. However, this is not true. While the number of pregnancies or waiting period between each pregnancy may vary from policy to policy, health insurance can be used to claim costs related to pregnancy as well as certain maternity costs. Being pregnant is quite expensive, with multiple tests each month to ensure the health of the baby and the mother. Having health insurance to cover those costs can be a huge boon.

2. Non-emergency procedures

Almost every health care policy has a list of day care procedures that are covered under it. Therefore, you do not have to wait for an actual emergency to occur before claiming expenses. Depending on your policy, you can claim the cost of certain out-patient procedures or general costs incurred due to being sick. Furthermore, the cost of hospitalization is also covered by many policies so if you must be hospitalized for a relatively non-emergent cause, such as a high fever, you can still claim your insurance.

3. Tax rebates

Another way that investing in health insurance can help you is through tax rebates. As citizens, we must all pay taxes, however we can certainly control the amount of taxes we end up paying by investing our funds for our own good. The tax rebates that you get from investing in health insurance will depend on the current tax laws. You can file for your taxes accordingly when the time to pay them comes up.

4. Recovery benefits

Many people believe that health insurance benefits are limited only to the treatment aspect of the procedure however this is not true. Many health insurance policies also offer supplementary funds during the recovery period of the patient. This is because when you are recovering from a disease or condition that has taken a huge physical toll, the recovery period itself can be long and can lead to the loss of income. With the supplementary funds coming your way, you can ensure that you are able to be comfortable while you are recovering. Your family will still be able to maintain its lifestyle and the likelihood of dipping into savings or going into debt will be much lesser with these funds by your side.

5. Alternative treatment benefits

Alternative treatments are gaining more and more popularity. With more people being health conscious as well as conscious of the chemicals that go into their bodies, patients are now turning to Ayurvedic and Homeopathic remedies over allopathic ones. Many health insurance policies cover the policy holder even if they want to seek out alternative treatments. This is something that can go a long way for anyone as you do not have to collect every penny and save it in the hopes of getting good healthcare that aligns with your belief system.

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