7 Ways In Which Health Plans Can Benefit You Even During A Pandemic

Bajaj Finserv Health
April 29th, 2022
7 mins read

Key Takeaways

  • Health plans help provide financial cover and fight rising medical expenses
  • Premium deduction in tax is one of the various benefits of healthcare plans
  • Choose from the best health plans to ensure that you get sufficient coverage

The pandemic has been difficult for us in various aspects. It has made people realize the importance of health and wellness. India is one of the countries that has been severely affected by the pandemic. The health sector of the country also witnessed a huge surge in the demand of health care plans.

With COVID cases now at 4.3 crore [1] and other diseases still prevailing, it is important to cover yourself and your family members with proper health plans. Health care plans work as a financial cushion that safeguards your finances and health in normal time as well as during such difficult situations. Read on to understand how health plans can benefit you during the pandemic.

Health plans provide a comprehensive package  

Medical emergencies always come unannounced, and this is one of the reasons why people opt for health insurance. Healthcare plans safeguard you and your family against any planned or unplanned medical treatment by offering comprehensive coverage against all prominent diseases. Other than this, plans also provide extensive cover against COVID infection and pay for your hospitalization costs. The pandemic resulted in health contingencies for many and health plans helped ensure that the repercussion of medical emergencies doesn’t fall heavy on your pocket.

comprehensive package  

Health plans cater to rising medical expenses 

Medical expenses are constantly on the rise. And, with the pandemic going on, one may need to check their health parameters regularly. For people with COVID positive and other health issues, the treatment can take time too. This is why it is wise to opt for health plans during the pandemic. It helps you become prepared for future medical expenses so that you receive support during tough times.

Additional Read: Top 6 Health Insurance Tips

Health plans provide lifetime protection 

In the present scenario, more and more people are choosing plans that offer lifetime coverage. Earlier, the age limit of these healthcare plans were 60 to 80 years, but many insurers now offer lifelong protection. It helps you plan ahead and cover yourself against future exigencies as well. If you face any issues in the future owing to the pandemic or something else, you will have cover as per your health plans.

Health care plan in India

Plans with specific cover help mitigate the risks 

In 2020, IRDAI advised all insurance companies to offer cover for COVID-19 hospitalization expenses [2]. Despite this, there is a possibility that your regular health plans may fall short on coverage. To avoid such situations, you can look for healthcare plans that can offer optimum cover for COVID-19 treatment. Policies like Corona Kavach or Corona Rakshak can help you manage hospitalization expenses. These policies come with a maximum tenure of 9.5 months. Apart from these, many insurers also offer other policies for COVID-19.

In terms of future, you can look for healthcare plans that offer a specific cover. This will help you better protect your and loved one’s health, as well as your finances.

Health plans provide EMI options  

EMIs are monthly installments options to pay back a sum of money. This option enables everyone to be able to afford the basic necessities. They also have the option of EMIs. This makes it easier for you to maintain your healthcare plan without it being a burden. EMI system has proven to be helpful in unprecedented times like the pandemic.

EMI options  

Health plans can provide tax benefits 

Health plans offer tax advantages that help you save money. The pandemic has left many struggling with there finances. In such a situation, you can use healthcare plans and avail exemption of tax on all the premiums you pay under section 80 D of the Income Tax Act, 1971 [3]. Note that you can get tax benefits not only for yourself but also against the health insurance policy premiums of your kids, parents or spouses. This acts as a great way to add to your savings.

Health plans provide extra rider advantages  

Another great benefit of getting a health plan is that you can add extra rider benefits to your existing policy. A rider includes coverage of other health issues that are not covered in your current policy. Make sure to choose an insurance provider who offers this option so that you can be better prepared for any future exigencies.

Additional Read: Health Insurance Rider

Any emergency will lead you to think about your finances, and that is why it is important to have your plans in place. These plans can help you deal with such situations. Note that it is never too late to start saving and planning your for health in advance. Check out Arogya Care plans on Bajaj Finserv Health for options that suit your requirement. These healthcare plans offer a comprehensive cover for you and your family members. Not only that, these plans also come with additional benefits like doctor consultation and lab test reimbursements. The Super Saving Plans will help you save money and help ensure that your medical treatment is not hindered by any financial problems. This way, you can start making smart decisions regarding your health plans today!

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