Breaking News

Understanding Personal Health Insurance: A Comprehensive Guide

Are you looking for a smart way to shield yourself from the financial burden of expensive medical treatments? Look no further! Personal healthcare insurance is the answer to all your worries. With healthcare costs skyrocketing, medical insurance has become an essential part of financial planning. In fact, according to the National Health Account Estimates, healthcare expenses in India are expected to reach a staggering 10.2% of GDP by 2025. 


So, investing in a good healthcare insurance policy is more crucial than ever. But do you feel overwhelmed by the complicated jargon used in health insurance policies, such as "waiting period" and many others? Don't worry! We're here to guide you through the entire process of buying a insurance plan. Read on to discover everything you need to know about personal healthcare insurance and secure your future today! 

What is Personal Healthcare Insurance?

A personal health policy covers an individual that provides financial protection against medical expenses due to injury, accident, illness, or disability. It is an agreement between the policyholder & the health insurance companies where the individual pays a premium in return for insurance coverage for medical reasons. 

Such medical insurance policies cover hospitalisation costs, ambulance charges, pre and post-hospitalisation expenses, and other medical fees as stated in the policy. 

Consider this article as your personal health plan guide, which will tell you about the benefits and the ways of choosing the best health insurance plan for yourself.

 Benefits of Healthcare Insurance Policy

If you plan on purchasing the medical insurance policy, below are some of the benefits that will come attached with it: 

  1. Medical expenses are sky-high, and with one unforeseen situation, you can spend all your savings. With healthcare insurance, you will not be financially burdened as the policy will provide financial protection against medical expenses.
  2. You can opt for the policy that offers a cashless treatment facility. It will ensure you get the best treatment without worrying about arranging money. Although there is no harm in the reimbursement option, why go into hassle when you can go stress-free?
  3. Any premium paid towards your insurance will be suitable for tax benefits under section 80D of the Indian Income Tax Act.
  4. Most importantly, a medical insurance plan offers peace of mind. It gives a sense of security that you have a plan to protect you from substantial medical expenses if needed. 

How to know which Health Insurance Policy is the best for you? 

Going for health insurance doesn’t mean purchasing the first policy you see. Instead, it is about making the right choice that offers you the benefits and advantages you will need in the long run. So, while there are many options in the market, choosing the right one can be tedious.

Below are some factors or things you should always consider before signing that specific document. 

  1. We often feel we don’t need extensive coverage, whereas the ideal option should be the opposite. Irrespective that it is a personal health plan covering only you, you should still look for the policy with the maximum coverage amount.
  2. Always opt for the policy with the maximum number of hospitals listed under its network. With more listed hospitals, you will have better chances of cashless treatment.
  3. Do not settle for a policy with less premium. A low premium will mean only some of the benefits. Instead, compare different approaches, their benefits, advantages, coverage, and other details. Accordingly, select the plan that is affordable with maximum benefits.
  4. Most importantly, make it a mandate to read the policy details very carefully. Many inclusions and exclusions are mentioned right at the bottom, which, generally, people need to pay attention to. These pointers can even lead to your case rejection if not understood in the first place itself.


With the rising health cost and the fear of COVID coming again, everyone should consider medical insurance as a part of their financial planning. With the policy in place, nobody will have to fear getting themselves treated by the best doctors and hospitals.

But understanding your policy and what you need out of it is equally critical. Therefore, you should always take it seriously and do thorough research. Talk to different insurance agents and discuss your situation, needs, and requirements. Compare multiple policies, especially their pros, and cons, and decide wisely. 

While deciding on the best one, remember to check out the personal healthcare insurance plan Niva Bupa Insurance Company offers. They are pioneers in the market and provide comprehensive plans suiting the individual’s overall requirements.

No comments