Health Insurance – Your Complete Guide!

Posted by  Fintra , updated 2021-03-12

Health Insurance – Your Complete Guide!

Health Insurance covers all the expenses incurred on medical bills such as surgical expenses, prescription drugs bills, dental expenses, and doctor’s fees. The Health Insurance Company has two options - it either pays these expenses directly to the hospital/clinic, or the insured bears the expenses initially, and the company would reimburse the insured person later on. Getting good and beneficial health insurance can be a tricky task, hence, go through this blog thoroughly and get all the information you need to know before purchasing one for yourself or your family.

In this blog, Fintra will highlight the following points:

  1. What are the benefits of Health Insurance?
  2. What are Health Insurance premium calculators?
  3. What is the Age Limit and the Ideal Age for getting Health Insurance?
  4. How is Health Insurance different from Life Insurance?
  5. What are the different scenarios for claiming your Health Insurance?
  6. What are the various documents required for getting Health Insurance?
  7. Which are the various companies that offer good Health Insurance Policies?

                                HealthCare

What are the benefits of Health Insurance?

What are the Health Insurance Premium Calculators?

The health insurance premium calculator assists one to determine the amount of premium they have to pay to the insurance agent or company to get insured. Because there are so many companies offering Term Insurance Plans, these calculators also give you the option of choosing between different insurers, compare the premiums, and additional benefits provided by them. Such calculators will require you to feed in your basic details such as your age, gender, annual income, some questions might be about your health conditions, and whether you have had any major condition in your past. Whether you smoke or consume tobacco is also a major criterion for the health insurance premium calculators to predict the approximate premium, which you will have to pay for the policy.

                               Doctor

What is the Age Limit and the Ideal Age for getting Health Insurance?

The minimum age to obtain health insurance is 18 years, and the average maximum age to get it is 75-80 years. The maximum age may vary for various policies and insurance companies. However, it is recommended to get a good Health Insurance plan as soon as you turn 18. The earlier you avail health insurance it will be better because of the increasing costs of treatments and inflation. As soon as you get yourself covered, the less premium and the more benefits you can avail, and the older you grow, the greater risk of getting ill arises.

How is Health Insurance different from Life Insurance?

There is no direct comparison between Life Insurance and Health Insurance in any which ways. On one hand, Health insurance covers all the medical bills, treatments, ambulance charges, doctor’s fees, etc. On the other hand, in case of premature death, Life Insurance provides sufficient funds to the family and spouse of the insured person. These funds help the family of the deceased pay all the funeral expenses and various other expenses incurred for the rituals and other things.

What are the different scenarios for claiming your Health Insurance?

Mostly, all the good Health Insurance policies cover common illness and diseases under the policy, but several diseases and ailments are not common. In case you desire to claim the health benefits from the insurance companies, first check whether the specific illness is covered under the policy or not. There are two modes of availing of your policy: Cashless claim and Reimbursement claim. For cashless claims, you have to get yourself treated in one of the hospitals that are affiliated with your insurance provider. If you get treated in any other clinic or hospital other than the chain of affiliated hospitals, you have to opt for the Reimbursement claims. In Reimbursement claims, the insured person has to pay all the bills initially with his/her pocket, and afterwards, they can get the bills reimbursed with the Healthcare Provider.

What are the various documents required for getting Health Insurance?

Which are the various companies that offer good Health Insurance Policies?

Some other companies are listed here.

                                 Purchase Health Insurance

Conclusion

As we have seen how the 2020 year has turned out be, "Global Pandemic”, it has made us realize the importance of good health and a healthy lifestyle. The uncertainty of medical needs and conditions is always there. In this generation where the pollution is increasing day-by-day, where new health conditions are discovered every day, it is essential to keep our health perfect.

Health Insurance offers you health assistance, hospitals, clinics, and doctors for your help. It assures that you won't be burdened by the heavy medical bills may whatever the scenario. Getting your health insured at the earliest age is a very good decision because we never know what the next moment holds for us. Inspect all the good Insurance companies along with their health care packages and get yourself insurance that suits your needs and pockets. Health insurance can prove to be an asset at critical times. At the time of paying the premium, it might seem to be a major liability. However, in tough times, it could be a lifesaver quite literally.

 

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