Reasons Why in 2023 Every Indian Should Have A Mediclaim Policy

Diseases come unannounced. While people often talk about the health aspects of diseases, the financial aspects get ignored. Medical insurance is a plan designed for precisely that. In exchange for regular premiums, you will be eligible to avail a claim for the expenditure incurred during an illness. You can thus protect yourself and your loved ones financially.

In current times, when the Indian government has been pushing for health care reform and making it more accessible, having a mediclaim policy will complement these efforts. It will allow individuals to make the most of the available healthcare services. This article will explore why every Indian should have a mediclaim in 2023.

Need for Mediclaim Policy for Every Indian
Having a health insurance policy reduces anxiety about arranging funds during sickness and allows you to focus on getting better. Other factors which will encourage every Indian to get a health policy are as follows.

Rising Medical Costs
Availing medical treatment in India involves heavy out-of-pocket expenditure. A single illness can end up eroding all your savings. With a medical policy, you will receive financial help to be able to pay your medical bills. Moreover, the facility of preventative care provided by most insurers helps you identify the disease before it worsens and needs even more expensive treatments.

Increasing Diseases
Indians are facing a greater incidence of diseases. This can be attributed to high pollution levels, poor lifestyle habits, lower health consciousness, etc. It is thus wise to be prepared for any medical calamity. You can also subscribe to an additional critical illness rider if you are susceptible to life-threatening conditions like cancer, heart attacks, etc.

Quality Treatment
Citizens find it challenging to determine the quality of different healthcare institutions. As a result, they are sometimes duped by quacks with fake degrees. Cashless medical policies are a boon as they provide access to a network of healthcare providers. These providers are included in the list only after sufficient checks, so the policyholders are assured of reliable care.

Tax Benefit
Another significant benefit of a medical policy for every Indian is the tax deduction offered under Section 80D of the Income Tax Act. Individuals and Hindu Undivided Family (HUF) can claim this deduction for a policy taken in the name of self, spouse, dependent children, and parents. This reduces the policy's overall cost.

Financial Security
Without the assistance of a health insurance policy, people have to resort to the less cost-effective alternative of taking loans to meet medical expenses. The additional burden of debt can lead to financial strain. Thus, getting insured is a prudent choice. Moreover, taking a medical policy can also safeguard you from inflation by providing the option to expand the sum insured every year.

Multiple Options Available
If you are looking for the best mediclaim policy for family well-being, you will not face a shortage of options. Numerous insurers are operating in the market. To gain a competitive advantage, they offer lucrative discounts to customers. You can enjoy even lower rates if you take the policy at a young age. Comprehensive coverage is given to meet pre and post-hospitalisation costs, ambulance charges, doctor's consultation fees, etc.

Key Factors to Consider while Selecting a Mediclaim Policy
After going through the above points, you must be pondering how to select the right policy given the overwhelming number of plans available. Use the following list of parameters to guide your decision.

Adequate sum insured
Comprehensive coverage
Affordable premiums
High claim-settlement ratio
Superior healthcare providers in the network
Lifetime renewability
No-claim bonus
Easy claim settlement procedure

Conclusion
In conclusion, having a medical policy in 2023 is crucial for every Indian. The best mediclaim policy for you will be the one that suits your specific requirements. So, assessing your needs, comparing different plans, and striking a match between them is essential. You must also check that the insurer enjoys a positive reputation among customers. You can ensure that by going through user reviews online or consulting an insurance agent.