The fit formula: Exploring the unexpected connection between health, wealth, and health insurance

You must have heard the famous saying, ‘health is wealth’ many times. But have you ever heard that health insurance is a component of both, health and wealth? Yes, that is correct! Health insurance has a very deep impact on your health and wealth simultaneously. Read on to know more.

The importance of medical insurance from the health perspective

It is very important to get medical insurance from a health perspective. Medical insurance helps you in the following ways when you or a loved one gets sick:

Affordable health care

Healthcare has become very expensive these days. Everything, from diagnostic tests to surgery, is expensive. If you need to get hospitalised, you sure need to settle a huge bill. These are not easy to afford, but when you have health insurance, you can easily afford them. The health plan will pay for all your medical expenses and you can afford the best treatment at the best hospital without any worries.

Comprehensive care

The health insurance plans offer comprehensive medical coverage. There are many covers available in the comprehensive health plans such as in-patient care, domiciliary care, daycare covers, OPD covers, and so on. When you have such a medical policy in place, you are assured of getting the best health care in any situation.

Pre and post-illness care

A health insurance cover takes care of your health in a wholesome manner. Apart from the hospital stay, you also get assistance before and after that, in the form of OPD covers, diagnostic test covers, pharmacy covers, etc to ensure you heal in the best possible manner.

The importance of medical insurance from the wealth perspective

While health insurance plans prove to be very beneficial in keeping your health protected, they also play a big role in protecting your money. Here are some ways in which that happens:

Financial coverage

The biggest reason to choose health insurance from an economic point of view is to save money. A hospital stay of about a week can lead to a bill of over INR 2 lakhs. This is a very steep amount, but your health plan covers it. You can easily clear the bill amount with the health plan.

Secures your savings

In the absence of health insurance, you have to pay all your health bills from your pocket and this can wipe out your savings in one go. So, to remain financially secure, get health insurance.

Offers tax benefits

You get some attractive tax benefits under Section 80D when you buy health insurance. This further supports your finances and effortlessly allows you to save money in the long run.

The final word

There are some excellent private medical insurance plans available in India these days from leading general insurance providers like Zurich Kotak General Insurance. Find the policy that suits your requirements and get it without any further delay. Good health insurance can protect you in many ways, and support your health and wealth wholesomely.

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