Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care and health system expenses among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.
Why Health Insurance?
It's easy to get sick. Anyone can get sick anytime. But who saves for an ailment? We might save for a dream holiday, a dream house or a child's dream. But rarely do we set aside a chunk of our salaries for a gallbladder removal or a knee replacement. So if you suddenly find yourself saying, 'why does this happen to me', in the middle of a medical emergency, you'll probably have to sacrifice a dream or compromise a fund you saved for something else.
That's where Health Insurance steps in, so that one can have access to the best healthcare without fearing the financial strain. Guaranteeing this peace of mind is what we call, "taking the fear out of faces."
So is the situation all that scary?
No, not really. The good part is that the healthcare industry is growing even faster than an adolescent boy. In the 1990s it grew at a compound rate of 16%. Which basically means today it's worth $34 billion and by 2022 is estimated to be worth $280 billion. Now these are not just good numbers, this growth implies that Indians will now have access to treatments and drugs they never thought existed.
No one needs to live with a bad hip or a weak knee. An appendix removal has become much simpler and heart operations have a faster recovery period. There are lesser crooked smiles in school, there are more kids running around after a fall. Healthcare, in India, has started giving people more faith in cure today.
And that's the sad bit. Today an angioplasty costs between Rs. 2-3 Lakhs. A knee replacement, Rs. 2.9 Lakhs. Hip resurfacing Rs. 3.2 Lakhs and renal failure about Rs. 5 Lakhs. To make matters worse, according to the recent World Bank report, 99% of Indians will have to face a financial crunch in case of a critical illness.
That's why it is imperative that each one of us has a good healthcare plan to take care of all our health needs. As to who and how to get a good plan, either go to choose a proper health insurance plan
We provide the best health insurance policy for any age with various sum insured option with wide network of hospital across the country with cashless settlements for individual, families with the best appropriate advices from the professionals in the industry. For corporate structures we provide tailor made Group health Insurance and Group Personal Accident Policy.
To know more about the health insurance policy Interest rates and eligibility click here.