Investment in Health Insurance Plans for protection of individuals & families.
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Investment in Health Insurance Plans is very much essential to all family members of the world. Due to the rising cost of medical expenses &getting good medical facilities saves on hospitalization costs all around the family member of the world. 

Therefore, getting health insurance coverage for yourself and your family can provide the added protection you need on time.

What disease is a critical illness:-

Critical illness means an illness, sickness or a disease or a corrective measure like cancer, Kidney failure, Coronary Artery (Bypass) Surgery, Heart Attack (Myocardial Infraction) Heart valve surgery, Major organ Transplantation, Multiple Sclerosis, Primary Pulmonary Arterial Hypertension, and Aorta graft surgery etc.


Why we should Invest in Health Insurance Plans for individual & family members:-

1. Fight Lifestyle Diseases:-

Lifestyle diseases are today rising, especially among people under the age of 45. Illnesses like diabetes, obesity, respiratory, and heart diseases are common in the world. Some of the contributing factors that lead to these diseases are pollution, unhealthy eating habits, gadget addiction and stressful life.

However, opting for an Investment in a health insurance plan that covers regular 

Medical tests can help catch illness early and make it easier to take care of medical 

expenses and leave you less worried about the disease. Hence investment in health insurance plans protects us financially and many diseases are cured in time at the hospital.


2. Health Insurance safeguard your family:-

The ideal health insurance plan you choose for your entire family under the same policy. Consider your aging parents, who are likely to be vulnerable to illness as well as the dependent children.

Health insurance plans insure the best medical treatment as and when required for any type of medical help. Hence investment in health insurance plans protects us financially and many diseases are cured in time at the hospital.



Investment in Health Insurance Plans for protection of individuals & families
Affordable-health-insurance-Plans for Individual & Family Members

3.Health insurance counter inadequate health plan:-

If you have taken a health insurance policy provided by the employer, you must check exactly what it protects you against and how much coverage it offers. If your current policy does not provide cover against possible threats-the diseases or illnesses that run in the family.


Here you can have a higher sum assured you can ensure your every medical need is taken care of financially.

4. Deal with medical treatment inflation:-

Medical technology improves and diseases also increase day by day. The cost of treatment rises as well day by day. Medical expenses  relate to pre-medical treatment as well as after medical treatment, that require huge monetary expenses.


The costs for doctor’s consultations, diagnosis tests, ambulance charges, operation theater costs, medicines, room rent, etc. are also continually increasing day by day in this world.


All of this could put considerable strain on your finances if you are not taking an adequate health insurance policy. By paying a relatively affordable health insurance premium each year, you can beat the burden of medical inflation while opting for quality treatment at the best hospital in your town.



Investment in Health Insurance Plans for protection of individuals & families.
Invest-in-health-insurance-plans-for Individual & Family members are very important in today Life

5. Your Health Insurance policy also protects your savings:-

In times of unforeseen illness that can lead to mental anguish and stress, there is another side to dealing with health conditions that can leave you drained of financial expenses.


With good health insurance plans, you will manage the medical expenditure without losing your hard savings. Some of the health insurance plans are cashless treatment. It is so good to avail good health insurance plancs for savings the money.


Your earned hard money savings can be used to buy a home, your child’s education  and retirement purposes. Health insurance plans avail the tax benefits for individuals, which further increases their  savings.


It is always better to take the right health insurance policy not only to protect you but also to protect your whole family as well.

6.Health Insuranceplansareinsured early to stay secure:-


Investing in health insurance early in life has numerous benefits. If you are young  and healthier , you can avail the plans  at lower rates  and you will get good advantages  which will  give growth in future. Additionally, you will be offered more extensive coverage options on your health insurance plan.


 Most policies have a pre-existing waiting period, which excludes coverage of pre-existing illnesses. If you are of a young age, avail the health insurance plans  that give you more advantages  of exhaustive  coverage  that will useful I your latter life.


A health insurance plan is a very essential  requirement in every body’s life .It protects yourself  and your loved ones  from any  event that could leave you financially handicapped is a must.

 Hence investment in health insurance plans protects us financially and many diseases are cured in time at the hospital.

7. Cash Less Benefits for policyholders:-

Much insurance provide offer cashless claim facilities. In such an arrangement, you do not make out-of-pocket payments. In the cashless benefit schemes the hospitalization expenses are settled between the insurer company   and the hospital.


The hospitalization expenses are settled between your insurer and the hospital. To avail of this benefit, it is imperative to get admitted to any of the insurer network hospitals.


You have to fill out a pre-authorization form and display your health insurance card to enjoy the cashless facility. Hence investment in health insurance plans protects us financially and many diseases are cured in time at the hospital.


Investment in Health Insurance Plans for protection of individuals & families
Why Health Insurance Plans are very Important for Individual & your Family.

8. Your Health Insurance policy gives you Tax benefits:-

All Health insurance policies provide tax benefits. Premiums paid towards your health care policy are eligible for tax deductions under Section 80D of the Income Tax Act, 1961. Quantum of the deduction is as given below:-

 ·        In the case of the individual Rs. 25,000 for himself or his family.

 ·   If an Individual or spouse is 60 years of age old or more the deduction available is Rs. 50,000.

 ·    An additional deduction for insurance of parents (father or mother or both, whether dependent or not) is available to the extent of Rs. 25,000 if less than Rs. 25000.if the age is 60 years or less.

·  For uninsured super senior citizens (80 years or more) medical expenditure required Rs. 50,000shall be allowed.

9.TakeHealth insurance policy as early to stay secure:-

 Purchasing a good health insurance policy at an early age has numerous benefits. Since you are young and healthy, you can also take advantages to purchase health insurance plans at a very early age, which will give more benefit in the older age.


Most health policies have pre-existing waiting period, which excludes coverage of pre-existing illnesses. This period will end when you 

are still young and healthy, thus it gives you the advantages of coverage that will prove useful if you are ill later in life. 


Hence investment in health insurance plans protects us financially and many diseases are cured in time at the hospital.

10. CoversPre-hospitalisation and post hospitalisation:-

The health insurance plan covers the medical expenses incurred by you for pre-hospitalisation and post-hospitalisation benefits. Once you are insured, some health insurance plans give benefits to policyholders.


Your pre-determined sum insured covers the medical bills generated 30 to 60 days before your discharge from the hospital. The coverage of your health insurance plans depends on the choice of health insurance you have chosen for you or your family members.


 Hence investment in health insurance plans protects us financially and many diseases are cured in time at the hospital.


Investment in Health Insurance Plans for protection of individuals & families
How-to-Claim-Your-Senior-Citizen-Health-Insurance-Plan in India-2022


1.Question:-Why is Personal health insurance important nowadays?

1.Answer:-Health Insurance provides risk coverage against expenditure
caused by any unforeseen medical emergencies. In current times of high
medical inflation rates, failing to hold an adequate amount of health
insurance cover can prove to be a major personal finance disaster.

2.Question:-What is group Insurance? What are the advantages of Group Insurance?

2.Answer:- Group Insurance health plans provide coverage to a group of
members, usually compared to company employees or members of an organization. Group insurance policy members usually receive insurance at a very reduced cost, because insurers risk is spread across the group policy holders.

3.Question:-Which is the No1 Health Insurance Plan in India?

3.Answer:-HDFC Ergo Health Insurance and Apollo Munich Health Insurance are the most branded Health Insurance Companies in India.

4.Question:-What are the examples of Health Insurance?

4.Answer:-Health insurance includes doctor service, inpatient and
outpatient care, prescription drug coverage, pregnancy, childbirth and mental
health services and many more.

5.Question:-how many people have no Health Insurance plan all over the world?

5.Answer:-In 2020 there are 31.6 million (9.7%) people of all ages have no
Health Insurance.

6.Question:-What is the difference between Health Insurance and Mediclaim?

6.Answer:- A mediclaim policy covers the cost of hospitalization. It may cover the treatment of specified illnesses to a particular limit. A Health Insurance policy, on the other hand, is more broad-based.

7.Question: – What is the age limit of a Medical Insurance Policy?

7.Answer: – According to the Insurance Regulatory Development Authority of

INDIA, (IRDAI) any person up to the age of 65 years of age can get health
insurance policies available for individuals aged between 65 and 80 years
of age.

8.Question:-How many Private Health Insurance companies are in INDIA?

8.Answer:-There are 28private health Insurance companies in INDIA.

9.Question:-Who started Health insurance in India?


9.Answer:-In1986,” Mediclaim” was first started by the Indian Government, it
offered minimum and maximum health coverage of Rs. 15000 and a maximum of Rs. 5,00,000.

10.Question:-What percentage of Indian people is covered under the Health Insurance plan today?

10.Answer:-Overall 35% of the Health Insurance in India is covered in the

year 2019.


 The market size of the Health & Medical Insurance sector was about 370

billion Indian rupees in the financial year 2018. This was projected to cross 

Over two trillion by the financial year 2030.

The market size of the Health & Medical Insurance industry in the US has

grown nearly 3% per year on average between 2017 till 2022.In India, only 1.1 billion of the Indian population, which is less than 15%of the Indian population, is covered through health insurance.

As per WHO statistics 31% and 47% of the hospitalization in urban and rural areas in India are either financed by the loans through the sale of assets, or for hospitalization, which is extremely sorrowful.


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I am Ajay Kumar Patra. ( & MBA-Finance) with 27years of Accounts & Taxation Experience in Large Manufacturing Units in India. In 2021 I started my own tax consultancy firm called “Ajay Tax consultant”. I started my Digital marketing on my website "".I have already published more than 100 Blogs on Business, Finance, startups, Digital marketing & Tours & Travel for my viewers.

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