Health Insurance

Health Insurance

Secure Your Health, Secure Your Future:
Choose SFIC Health Insurance!

Pointers for Starting Health Insurance

Assess Your Health Needs : Consider your current health status, medical history, and any regular medications or treatments you need.
Understand Insurance Terms : Familiarize yourself with terms like premiums, deductibles, copays, and out-of-pocket maximums.
Compare Plans : Look at different plans to find one that offers the best balance of coverage and cost.
Check Network Hospitals : Ensure that the plan includes a wide network of hospitals, especially those near your location.
Consider Add-ons: Think about whether you need additional coverages, such as maternity benefits, mental health services, or overseas coverage.

What is Health Insurance ??

Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured. It can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. It’s essential for managing health care costs and protecting against high, unexpected expenses.

Benefits of Health Insurance

Health Insurance offer several benefits:

Coverage of Hospitalisation Expenses

Covers costs associated with hospital stays, including room charges, nursing expenses, and doctor fees.

Cashless Treatment

Many insurance plans offer cashless treatment at network hospitals, where the insurer settles the bills directly.

Pre and Post Hospitalisation

Covers medical expenses incurred before and after hospitalisation.

No Claim Bonus

Rewards policyholders with a bonus for every claim-free year, enhancing the sum insured without increasing the premium.

FAQ on Health Insurance

Find expert answers and clarity on all your Health Insurance – related questions in our dedicated FAQ section, tailored specifically for our health Insurance offerings.

What does a health insurance policy cover?

Typically covers hospitalization, pre and post-hospital care, and may cover other specific treatments.

Can I cover my family under one policy?

Yes, family floater plans allow you to cover multiple family members under one policy.

What is a cashless facility?

Allows you to avail treatment without paying cash at the network hospitals as the insurer will settle the bills directly.

Are there any diseases that are not covered by health insurance?

Most policies have a list of exclusions, including certain pre-existing conditions and specific diseases which might be covered after a waiting period.

What is a waiting period in health insurance?

The time period specified in a policy which must pass before some or all of the coverage begins.

How can I claim my health insurance?

Claims can be made either as cashless claims at network hospitals or as reimbursement claims where you pay

Types of Health Insurance :

Individual Health Insurance : Covers health expenses for only one individual.
Family Floater Insurance : A single sum insured covers the entire family, which can include spouse, children, and sometimes parents.
Group Health Insurance : Provided by employers to their employees; typically offers benefits at a lower cost.
Senior Citizen Health Insurance : Specifically designed for individuals aged 60 years and above.
Critical Illness Insurance : Offers coverage for life-threatening diseases like cancer, heart attack, or stroke.

Why Do You Need Health Insurance

Financial Protection: Shields against high medical costs, ensuring savings and investments are not depleted by health issues.
Access to Better Care: Allows access to quality health care services and treatments without financial strain.
Preventive Services: Covers preventive services like vaccines and check-ups, helping maintain and improve health.
Peace of Mind: Provides peace of mind knowing that you’re financially protected in case of medical emergencies.

How to Choose the Best Health Insurance ??

Adequate Coverage : Ensure the sum insured will cover your and your family's medical needs.
Premium vs. Benefits :Balance the cost of premiums against the benefits provided. Don't choose a plan based solely on low premiums.
Incurred Claim Ratio : Check the insurer's incurred claim ratio, which indicates the percentage of claims the insurer has paid out.
Hospital Network : Consider insurers with a wide network of hospitals that offer cashless transactions.

Myths About Health Insurance

Myth : Too Young to Need Insurance

Fact: Health issues can arise at any age; the younger you are when you get insurance, the better the terms and costs.

Myth : Only for Severe Conditions

Fact : Health insurance covers not only severe health issues but also minor injuries, preventive care, and sometimes even outpatient treatments.

Myth : Very Expensive

Fact : There are plans available for all budgets, and the cost is generally lower when you are younger and healthier.

Tax Implications on Health Insurance

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