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How COVID-19 has made us realize having a Health Insurance Policy is essential

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The COVID-19 epidemic has made us realize that the future is unpredictable, and a medical emergency can occur at any time. As a result, health policy is required to safeguard us in the event of a medical emergency.

We are all practicing social distancing and adopting health precautions and measures, but we require a health policy in addition to precautions. Remember that health insurance is something that every family requires not only during a pandemic but also for any future medical concerns.

Health insurance provides you with peace of mind at all times. You do not need to rely on anyone else for financial assistance during a medical emergency. It lessens the possibility of depleting all of your savings. In addition, monetary amounts can be claimed against the insurer, and you get all of your money back without spending a dime.

With the rapid increase in coronavirus infections, people realized that health insurance is just as important as appropriate health care. The optimal health insurance policy would allow you to live a fulfilling life while also facilitating access to high-quality health care. In addition, health insurance would protect your finances in the long run.

The majority of health insurance plans also cover government AYUSH treatment for patients. This, without a doubt, assists patients in obtaining affordable health insurance benefits.

Nobody knows what will happen in the following 20 to 30 days or, in that case, in the next 2 to 4 months since the future is uncertain. The only thing that can save you is health insurance. Let us consider the significance of health insurance during the COVID-19 era.

Benefit from Income Tax Under Section 80D: 

In addition to providing free health exams and hospitalization, health insurance also provides tax exemption under Section 80D. Health insurance that covers your entire family, including your parents and spouse, can provide you with a tax exemption of up to Rs 60,000/. It also depends on your parents’ and your own ages. Group health insurance will also help you reduce your taxable income.

Cashless Hospitalization: 

If a person has COVID-19 or another critical illness, he or she can receive treatment right away with cashless hospitalization. You will not need to make a cash deposit after visiting the hospital. Cashless hospitalization is the most remarkable approach to seeking treatment as soon as you are admitted with the support of health policy.

High ICU and other treatment costs: 

As a result of COVID-19, many people have experienced severe health problems, such as low oxygen levels, which necessitated the use of ventilator support in intensive care units (ICUs). Moreover, COVID costs from persons with a high degree of infection necessitate hospitalization, and the cost of treatment is prohibitively expensive in most private institutions. The current hospital COVID rates in most Tier-1 and Tier-2 cities are around 10 lakhs. As a result, health policy is required in order to collect such a large sum in the event of a medical emergency.

Remember that health is wealth, and if you can’t protect your health, you’ll never be wealthy. So, get a solid health policy insurance plan that covers practically all important illnesses as well as other treatments to protect your loved ones’ and your own lives.

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