Health Insurance
Health Insurance
The awareness on Health Insurance has increased manifold due to the onset of Corona. The population of each country is now has becoming conscious on health insurance.
In India, the awareness about health insurance policy, its purpose and the demand has reached not only in urban areas but also rural areas.
Why do we need a health insurance cover:
It is true that we are living amidst a pandemic, and the chances of infection are high. Apart from that, there are other diseases that pose a threat to our health and life. Similarly, an accident can happen anytime and cause fatal injuries. While medical infrastructure is improving, the cost of quality healthcare affordability is also rising. A person needs a health insurance plan so that he/she can avail the best medical services available near him/her, without worrying about the bills. It provides peace of mind by shielding the person’s finances and lets him/her focus on recovery. The added advantage is that payments made towards health insurance premiums are also eligible for tax deductions u/s 80D.
What is Health Insurance:
Health insurance or Medical Insurance is a type of general insurance that protects the policyholder against the financial burden that arises when faced with a health condition or medical emergencies such as a disease, illness, or an accident. There are two categories into it – Cashless Claim and Reimbursement Claims. The insurance company pays the hospital of the insured individual directly or reimburses the expenses incurred due to medical emergency / admission
Indian Health Sector
Of late, we have been witnessing a rapid increase in the cases of chronic diseases such as chronic respiratory disorders, cardiovascular diseases, cancer and diabetes in India.
According to the studies, there has been a rapid increase in the cases of chronic respiratory diseases, cardiovascular diseases, cancer, and diabetes in India. Cardiovascular diseases are one of the top reasons for deaths in India, contributing to more than 17,00,000 deaths in 2019. The rapid change in the lifestyles of people is one of the reasons for this large number. But another reason is that people are not getting the kind of treatment that they should get because of the rise in the healthcare cost in India.
It is a fact that India’s healthcare sector is getting more equipped with advanced technology that can cure many chronic diseases. But this has also increased the healthcare cost in the country. It is said that health insurance is the financial saviour of the people.
The need of the hour is being insured under a health insurance policy. We at, PvE Asset Services LLP, help people plan for their comprehensive health insurance plans, which will take care of their hospitalization bills and medical expenses. We help people, whoever approaches us, to understand the basic needs and adequacy of health insurance for their family. Adequacy of health insurance is determined based on the existing policy cover they have with their family size, life style etc.
