What is Health Insurance Policy?
A Health insurance policy is a contract between the insurance company and the policyholder, wherein the insurer pays for the medical expenses incurred by the life insured.The insurer will either provide a reimbursement for your medical expenses or ensure you are eligible for cashless treatment for injuries or illnesses covered under the policy at one of the network hospitals. You can also get tax deductions on the premiums paid towards health insurance under Section 80D of the Income Tax Act, 1961.
How Health Insurance Works:
To get a health insurance policy, an individual has to pay a premium amount at regular intervals as selected by him/her during the inception of the policy. From the commencement of the policy, if the insured person has any medical expenses to bear, the insurer will be liable to pay them as per the terms and conditions. Please note that few insurers have a waiting period within which no claims will be entertained. The waiting period differs from one insurer to another.
Health insurance is usually included in the benefits offered by an employer to the employees of an organisation. However, the extent of coverage under such a policy may be limited. So, it is advisable to buy a separate individual health insurance policy for extended coverage.
Health insurance plans are available for individuals, families, and senior citizens. The family floater plans protect the entire family under a single insurance policy, covering Out Patient Department (OPD) expenses and much more. Senior citizen health plans usually provide comprehensive health insurance cover for the elderly for treatment of accidental injuries and illnesses.
Who provide best Health Policy?
There are various companies who provide health insurance policy with the full security means people should not worry about their polices because they are dealing with the best. So basically here i’m going to tell you about some Companies who provide Insurance Policy.