Health Insurance Plans in India

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Health Insurance Plans
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Health Insurance Plans in India
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Health insurance can be defined as insurance
against the future medical expenditure of a
person. This means that when someone takes a
health insurance plan he or she expects a certain
amount of medical expense to be there in future
and that individual is paying for that in the
present in the form of premium. The main aim of
a health insurance plans is to make sure that
people have enough money to take care of their
emergency medical requirements when they get
old.  However, a health insurance policy does
not always cover every possible health problem
someone might encounter in the future.
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There are certain terms and conditions agreed to
by the insured (person who is taking the plan),
and the insurer (entity that is providing the
plan) and the entire procedure happens according
to what has been agreed to in the
contract. Appropriate time to take health
insuranceAccording to experts the best time to
avail a health insurance plan is when the insured
is still in a good physical condition. The normal
logic among young people is that since they are
rarely afflicted by physical ailments they do not
need such a plan. In reality people can fall
prey to a disease or other physical problem at
any time - nobody can be absolutely sure of a
life fully free of such issues.
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A problem with trying to get a medical
insurance during old age is that since there are
more chances of a medical condition the premium
is often high or the insurer is not ready to
cover the individual in question.  Types of
Health Insurance In India there are two major
types of health insurance plans - critical
illness insurance and medical insurance.
Medical insurance this form of insurance
provides hospitalization cover and pays back
medical costs that have been there for paying for
diseases or surgery when the insured was admitted
in a healthcare facility. 
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Benefits of Health Insurance Policy The major
advantages of a health insurance policy may be
enumerated as belowAssists in securing the
future through premiums Payment for medical and
hospitalization bills Saves lot of future
financial losses due to costly medical and post
treatment expenses Custodial and disability
bills Heightened sense of security Tax benefits
as per Indian Income Tax Act's Section
80D Greater financial security These policies
can even be availed after crossing 60 years
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