A health insurance policy offers safety and coverage against medical emergencies. Sudden hospitalisation expenses can cost several lakhs, adding to our financial burden. Health insurance helps cover for personal life dislocation, aside from medical expenses.
Health insurance is important for the following reasons:
1. Offers coverage during life-threatening accidents or injuries
2. Ensures financial safety arising due to lifestyle hazards
3. Critical illnesses such as organ failures, cancer, stroke that requires advanced treatment
4. Pandemic coverage such as protection from COVID-19
5. Coverage from all kinds of treatment options under AYUSH
Besides health benefits, health insurance policies also offer tax deductions under section 80D of the Income Tax act.
Therefore, in challenging situations, a comprehensive health cover offers financial safety and protection, along with ensuring mental peace.