Why should you consider Health Insurance for yourself and family members?

Why should you consider Health Insurance for yourself and family members?

What is Health insurance?

Health insurance is a type of insurance coverage that covers the cost of medical care. It helps people to pay for the cost of their medical care, such as doctor visits, hospital stays, and prescription medications. Health insurance is necessary because it provides financial protection for potential large medical bills and allows access to quality medical care. It also helps to protect individuals from financial ruin due to unexpected medical costs.

What are the benefits of health insurance?

The benefits of health insurance include access to medical care, financial protection from medical bills, and protection from financial ruin due to unexpected medical costs. Health insurance can also provide peace of mind, knowing that you and your family are protected from the financial burden of accessing medical care when needed. Additionally, it can provide access to preventive care, such as regular checkups, screenings, and vaccinations. Finally, health insurance can help you to save money in the long run by helping you to avoid costly medical bills

Apart from health insurance there are a number of other insurances as well. Click here to learn about the different types insurance policies in India.  

What are the types of health insurance available in India?

The types of health insurance available in India include:

1. Individual health insurance: It is an insurance policy that provides coverage for a single person.
2. Family floater health insurance: It is a health insurance policy that provides coverage to the entire family under a single plan.
3. Critical illness insurance: It provides coverage for specific illnesses such as cancer and heart attacks.
4. Maternity insurance: It provides coverage for expenses related to pregnancy and childbirth.
5. Group health insurance: This is an employer-sponsored plan that provides health insurance coverage to a group of people, usually employees of a company.
6. Senior citizen health insurance: This is a policy specifically designed to provide coverage to individuals over the age of 60.
7. Personal accidental insurance: It provides coverage against death or disability resulting from an accidental injury.
8. Workers’ Compensation Insurance: This is a type of insurance designed to cover medical expenses, lost wages, and other costs incurred by an employee due to a workplace injury.
9. Travel Insurance: It provides coverage for medical emergencies, lost luggage, and other costs incurred while travelling.
10. Ayushman Bharat Health Insurance Scheme: It is a government sponsored health insurance scheme for providing access to quality healthcare for the economically disadvantaged.

Conditions under which health insurance can be extremely beneficial:

1. When you or someone in your family has a serious or chronic illness.
2. When you are expecting a baby and need coverage for maternity care and newborn care.
3. When you are planning to have elective surgery or other medical treatments that may be costly.
4. When you are travelling and need coverage for unexpected medical costs.
5. When you have dependents who need to be covered by health insurance.
6. When you have an expensive prescription medication that needs to be taken on a regular basis.
7. When you are facing a large medical bill or hospital stay.
8. When you are at risk of losing your job and need coverage until you can find another job.
9. When you are over the age of 65 and need to be covered by a health insurance plan that caters to seniors.


In these situations, people already covered under health insurance will be extremely benefitted. For many of the above situations, families generally require a large sum of money for proper treatment of their near and dear ones which might be not available to most of them instantly. In such a case people covered under a well suited health insurance plan need not worry about the financial condition as the insurance company would be sponsoring the treatment of the patient as described in the legal document.

In today’s time diseases have become so common that you cannot predict the health of anyone even for a second, heart attacks, cancer, or even accidents are such deadly diseases or events have become so common these days that if you even recover from it physically it will break your backbone financially. To avoid such financial problems and at the same time get the best treatment for your loved ones, people should do financial planning and add a suitable health insurance for themselves in it.

Click here to know about the 5 types of Life Insurance policies in India.

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