FREQUENTLY ANSWERED QUESTIONS
ABOUT HEALTH INSURANCE.
1.WHAT IS HEALTH INSURANCE?
Health insurance is a protection against medical costs.
2.WHY HEALTH INSURANCE?
Cost of quality medical care and treatment is very high.
3.WHO WILL OFFER HEALTH INSURANCE?
Both life &non life insurance companies offer health insurance,
some life insurance companies offer additional benefit rider
with life insurance policy.
4.WHAT IS THE IDEAL AGE FOR HEALTH INSURANCE?
Ideal age is between 20 to 40 years,because the premium will be low
and the incidence of disease is minimal
5.HOW WILL WE PAY THE PREMIUM?
Usually by cheque or demand draft every year.
6.WHAT IS THE MODE OF PAYMENT BY COMPANIES?
Health insurance companies provides for either direct payment
to the hospitals or reimbursement of expenses associated with illness
and injuries to the individual persons
7.WHAT IS THE IDEAL MINIMUM AMOUNT FOR INSURANCE?
Ideal minimum amount should be one lakh rupees and maximum
should be five lakhs rupees, because of raising medical costs.
8.ANY TAX SAVING OPTIONS IN PREMIUM AMOUNTS?
Health insurance provides with tax benefits under section 80D of the
income tax act upto Rs.15000 (may be revised soon)
9.WHAT IS THE HEALTH INSURANCE COVERAGE?
Health insurance polices cover,nursing and diagnostic expenses.
room rent, surgeon and anasthesia fees and hospital charges.
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