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Health Insurance -

Medical and surgical costs for an insured person are covered by health insurance. Depending on the conditions of the insurance policy, either the insured pays expenses out-of-pocket and then receives a reimbursement, or the insurance provider covers expenses directly.

What is Health Insurance Policy?

A health insurance policy refers to a type of insurance that pays for the insured person’s medical and surgical costs. It either pays the care provider for the covered person directly or pays back the costs incurred as a result of illness or injury.

Benefits of Health Insurance Policy -

Many factors make buying health insurance policies essential. Here are some of the most significant advantages of having health insurance:

1) Aids in Managing Increasing Medical Costs -

People buy health insurance plans from Policy21st to protect their cash from ever escalating medical expenses. You can end up spending more than a few thousand rupees as a result of an accident or medical emergency. A medical insurance plan makes it simpler for you to obtain the healthcare you need to recover by providing coverage for anything from ambulance fees to daycare procedures.

2) Covering critical illness -

Numerous health insurance plans will charge an additional fee and include coverage for severe conditions. This is another essential protection to carry in light of the increased prevalence of ailments linked to modern lifestyles. If you are identified with one of the critical illnesses that are covered, you will receive a lump sum payment. Critical illness coverage is another essential advantage of having health insurance because dealing with and managing these problems can frequently be highly expensive.

3) Efficient Cashless Claims -

Each health insurance company like Policy21st will have partnerships with a handful of network hospitals in which you can submit claims without paying cash. Receiving emergency medical assistance is now lot simpler as a result. You essentially don’t have to pay for any of the covered services at a network hospital. With the exception of non-covered fees and any required deductibles, the provider will cover the medical expenditures for all legitimate claims.

4) Additional Protection -

You might ask why you need to get your individual health insurance policy when you already have coverage through a group health insurance plan. Well, compared to group policies, personal health insurance policies offer greater and better coverage. Furthermore, you run the danger of losing the cover if you decide to leave the organization at any point, which might put your funds and you at risk.

5) Taxes saved -

The Income Tax Act of 1961’s Section 80D allows for tax deductions on premiums paid for maintaining health insurance coverage. You may deduct as much as INR 25,000 annually from your taxable income for a plan for you, your spouse, your kids, and parents under the age of 60. You may deduct an additional INR 50,000 if you’ve additionally bought an insurance for a parent who is older than 60.

Types of Health Insurance Policy -

Every person is unique and has their own set of requirements. The unique needs of each person cannot be met by a particular health insurance package. There are numerous sorts of health insurance policies accessible in this specific area. Here are some examples of what they are:

There are many options offered by Policy21st, however you must pick the kind of plan that suits your needs. You should first comprehend the many kinds of health insurance policies in order to do that

You can buy a personal health insurance plan to cover your parents, your spouse, your kids, and yourself. These insurance plans frequently pay for a wide range of medical costs, including hospital stays, daycare operations, hospital room rent, and more. Each member of an individual health insurance policy is assigned their own amounts insured.

With a family floater plan, you can insure all of your family members within one policy and split the total amount protected. Due to the shared sum covered, these plans are often more reasonable than individual insurance. Family floater policies typically work best for young nuclear families.

These health plans were created expressly with senior folks’ medical requirements and wants in mind. The majority of policies for senior citizens provide extra coverage, including some psychiatric benefits as well as domiciliary hospitalization. These policies could cost more than standard insurance policies and necessitate a comprehensive medical examination in advance because older people are more prone to have health problems.

Numerous disorders that are influenced by way of life are increasing. rise. Long-term care costs can be very high for conditions including heart disease, kidney failure, and stroke. This is the main motivation behind the development of critical sickness insurance coverage. They can be acquired either independently as their own policy or as an add-on or rider to your current health insurance policy. After a critical condition is diagnosed, these policies frequently pay claim payouts as a single lump sum payment. They provide coverage for extremely particular issues.

Group health insurance policies as opposed to individual and family floater policies, can be obtained by a group manager for a sizable number of people. For instance, a company may buy group insurance for all of its workers, or a building secretary could do the same for all of the building’s tenants. Although these plans are reasonably priced, they frequently only cover the most fundamental medical conditions. These policies are frequently bought by employers as an extra perk for workers

Why do I need to buy Health Insurance Policy?

Medical emergencies can happen at any time. Having health insurance will make you feel more prepared financially to deal with such circumstances. Here are some justifications for choosing health insurance:

An insurance policy for health care serves as a reliable source of funding in times of need. Your financial situation may suffer significantly as a result of the costs of serious illnesses. You may be able to receive substantial financial protection from a health insurance plan to cover the expenses of treatment. It offers the convenience of fast payouts for more flexible finances.

Health problems are welcomed by the way people live today. And these problems go beyond simple ailments like a cold, cough, or fever. These days, chronic illnesses like diabetes, heart disease, and renal ailments are equally prevalent. As a result, it is more crucial than ever to protect your health with a full health insurance coverage.

Health insurance provides financial assistance in the now in addition to being effective at paying bills in the future. Section 80D allows you to deduct up to Rs 25,000 in taxes from the premium you pay for insurance. You can deduct the cost of your own insurance as well as the policies of your spouse and children. This may enable you to lower your overall tax obligation.

It may be more advantageous than you think to purchase insurance from Policy21st when you are young. You can obtain a plan at a lower cost and are more likely to be healthy while you are young. The premium cost keeps rising as you become older. It would be wise to purchase health insurance as soon as possible because the longer you wait, the more costly the premiums become. Younger people can obtain insurance as well without having to undergo medical examinations.

It will always inflate. Although savings instruments offer tempting interest rates, they are insufficient to cover the price of medical care when inflation is included in. A practical instrument that can assist you in covering potential medical expenses is health insurance. Health insurance helps you combat the consequences of inflation by covering a wide range of costs, from the equipment costs to the expense of treatment, medications, and diagnosis.

Regardless of how much money you have saved, dealing with a serious illness can be challenging. You can wind up losing all of your life’s savings. On a fixed salary, it can be challenging to pay for the cost of the therapy, the necessary equipment, and the prescription. Your assurance in facing these costs and easing some of your burdens can be provided by health insurance.

Given its advantages, health insurance should be a crucial component of one’s financial plan. Health insurance comes in a variety of forms. The option that best meets your demands must be chosen.

How to Buy a Health Insurance Plan?

There are many different health insurance plans on the market. You must locate the policy that finest meets your specific wants if you want to benefit from coverage without any issues. Here are some crucial aspects to take into account while choosing a health insurance plan: 

Verify the Insured Amount

Many insurance companies put a cap on the highest sum insured that you can select. Finding a health insurance plan that meets your needs is necessary if you want a high insured amount. A decent general rule of thumb is to obtain coverage that is at least six times your annual wage. You ought to consider additional advantages. Make sure maternity fees are covered if you intend to start a family in the near future. Since maternity benefits are entitled to slightly lengthier waiting periods, you will obviously need to examine the waiting time.

Examine the Network of Hospitals


As a family-owned Insurance Agency Policy21st has delivered valuable insurance solutions to individuals for years, specializing in Health, Motor & Travel Insurance along with the Insurance Portability Plans.

Contact Details


  • +91-8791202121

  • info@policy21st.com