Health insurance supports you financially in times of illnesses or accidents so that you can focus on your health and recovery. Health insurance covers medical costs that come up in an emergency or during a planned stay in the hospital. Section 80D of the Income Tax Act of 1961 lets you save money on taxes on the premiums you pay to the insurance company.
A plan for a single person is called individual health insurance. As the name suggests, only one person can buy it. When a person buys insurance through this plan, he or she is reimbursed for the costs of illness and medical care.
The Family Health Insurance Policy protects your whole family under a single plan. Plans for family health insurance cover everyone in your family, including your spouse, children, and parents.
Critical illness insurance protects the person by giving them a lump sum of money if they get a disease that could kill them. With this kind of insurance, you don't have to be hospitalized to file a claim.
As the name suggests, this kind of health insurance in India covers people who are 65 years old or older. So, if you want to buy your parents or grandparents an insurance policy, this is the best policy for you.
Over the years, the number of road accidents has gone up. This policy gives the victim or his or her family a lump sum of money to help. Some of the plans also include benefits for education and for children who are left without a parent.
