It is important to understand the features of a policy before purchasing it. A good medical plan can be one that offers wholesome coverage, cashless hospitalisation, and quick claim settlement, and covers pre and post hospitalisation expenses.
Buying health insurance is no longer a choice but a necessity in the current times. It covers us against the financial implications of medical problems. With health insurance, you do not have to dip into your savings anytime you go to a hospital.
Religare health insurance offers cashless hospitalisation across more than 7800 hospitals all over the world. The company’s claim settlement procedure takes only 2 hours, and the ratio of settlements stands at 93%. You can also choose from five types of plans based on your need. In addition to this, Religare offers a no claim bonus of 150%.
The price of the premium can differ for each individual based on their age, lifestyle preferences, existing health conditions, etc. The younger you are, the more affordable the premium can be. The premium can be higher for older people and people who smoke, consume tobacco, or drink alcohol.
When picking out a plan, you can look out for how flexible the plan it. Plans that allow you to add members can be helpful in the long run. Features like cashless hospitalisation, no claim bonus, pre- and post-treatment costs, room rent, ambulance expenses, etc. are also essential.
Under section 80C, premiums that you pay towards a Health insurance policy qualify for a deduction up to ₹1.5 lakh, while Section 10(10D) makes income on maturity tax-free if the premium is not more than 10% of the sum assured or the sum assured is at least 10 times the premium.