3 Insurance Policies That Should Be A Part Of Your Health Insurance Portfolio
It
is hardly a secret that medical emergencies pop up unannounced. And, if funds
are low and treatment costs are high, you might find yourself in dire straits.
Now, fortunately there is one solution out of this situation. That solution can
be spelt out in two words – health insurance.
Health insurance is so important that it should ideally be
on your list of financial milestones. It is a milestone literally for from the
day you purchase health coverage, you can rest easy knowing that your insurance
will back you up when you fall ill and need treatment. Now, it won’t suffice to
just pick up the first health insurance policy that comes your way. Your health
coverage should ideally consist of a portfolio of different health insurance
products that each serve their purpose in helping you financially tide over a
medical crisis. Read on to know learn about the 3 insurance policies that
should form a part of your health insurance portfolio.
1. Individual health insurance
An
individual health insurance plan is the best way to safeguard your finances
should you fall sick and require treatment. The ideal health insurance policy
should offer coverage for pre- and post-hospitalisation expenses, day care
procedures, ambulance costs, and AYUSH treatment. Make sure to choose an
insurance provider that gives you access to a wide range of network hospitals
where you can receive cashless care.
2. Critical illness insurance
A
critical illness insurance plan gives the policyholder a lump sum payout if
they are diagnosed with any of the critical illnesses that fall under the
purview of the policy. Critical illnesses generally include cancer, heart
attack, paralysis, and kidney failure, among other conditions. These diseases
are often life-threatening and may require you to stop working while you
receive medical care. During such time, the critical illness payout can be used
to help meet any and all of your financial responsibilities such as transport
costs to and fro from the hospital, paying salary for domestic help at home,
buying medicines, affording the rent and utilities, and so on. Basically, a critical illness cover works along with your
individual health insurance plan to ensure that there are no gaps in your
coverage should you fall seriously sick.
3. Personal accident insurance
A
personal accident insurance plan is one of the most overlooked types of
coverage. The insured amount can be claimed if the policyholder meets with an
accident that leads to untimely death, permanent total/partial disability, and
temporary total disability. For instance, if you meet with an accident that
unfortunately renders you unable to work anymore, your personal accident
insurance payout will truly save the day and allow you to provide for your
dependents. As accidents can happen almost anywhere, it makes sense to have
this coverage in place so that you can use the funds for medical needs and
other financial obligations.
Make sure to speak to an insurance specialist today and purchase the health coverage you require. We hope this article helps you fill any gaps in your health insurance. Take care!
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