Why health insurance is Important?
Health Insurance

Why health insurance is Important?

In a world where unexpected events can turn our lives upside down in the blink of an eye, the importance of health insurance cannot be overstated. It's a safety net that shields you and your loved ones from the financial instability of unexpected medical emergencies.

Let's understand the importance of health insurance in detail. So, you can focus on recovery and not the burden of unexpected expenses.

Lifestyle diseases

Our lives have become hectic and sedentary. Lack of physical exercise, coupled with hectic work schedule, causes lifestyle diseases. Even those who are below 45 are diagnosed with lifestyle diseases. The cases of obesity, diabetes, heart diseases and respiratory problems are increasing day by day. Pollution and unhealthy eating habits are two other factors that can cause lifestyle diseases. Some precautionary measures can definitely help. But an unfortunate event can be difficult to cope with without a health insurance policy.

Investments in health insurance plans can be of great help in such situations. Medical insurance policies cover regular medical tests which can help diagnose a disease in time. Early diagnosis makes it easier to cure the medical condition. It also helps handle the financial aspects of it better.

Healthcare for family

When it comes to your family's well-being, there's nothing more important than ensuring they have access to the best possible healthcare. This is where a family health insurance plan steps in.

With a family health insurance plan, you're not just insuring yourself; you're safeguarding the health and financial stability of your family. It covers hospitalization expenses, doctor's fees, and various medical costs, easing the financial burden during unexpected emergencies. This means that when your loved ones need medical care, you can focus on their recovery rather than worrying about how to pay for it.

Medical inflation

The cost of healthcare is rising in tune with the advancements in medical technology. That is why it is important to have health insurance. A good health insurance policy will cover the cost of an ambulance, various diagnostic tests, consultation fees of doctors, cost of medicines, room rent and more.

Emergency funds

You will come under tremendous stress, physical and mental and financial, when a medical emergency, or an unfortunate event strikes. With an adequate health insurance policy, you can manage medical expenses without unlocking the emergency fund. Many insurers also offer cashless policy. So, you do not need to bother about reimbursements. It also helps you keep the savings intact.

Tax benefits

Tax incentives partly answer the question of why medical insurance is important. The premium you pay for a medical insurance policy can be deducted from taxable income under Section 80D of the Income Tax Act. The maximum amount deductible is Rs. 25,000. The limit is Rs. 50,000 for senior citizens.

It is now clear why a comprehensive health insurance policy is essential for everyone. You can compare different plans of different insurers and choose the right cover that offers adequate coverage to you and your family members.

Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.

Looking for the right policy?

Manage Your Policies at Fingertips

Avail Your Insurance Benefits on the go with SBI General Mobile App

Download the App Now

qr code
apple play storeplay store