Why do people choose Medical Insurance?


Health is the most valuable gift to a human. With proper health, one can enjoy life thoroughly. Neglecting health can never be an option. We never know what happens tomorrow. A healthy person today can fall ill due to some deadly disease or illness or meet with an accident tomorrow. Most people are unprepared for such mishaps. Massive amounts are spent on medical costs, which depletes all the savings for the future. We can escape such horrific events with the help of medical insurance

Medical Insurance Policies cover medical expenses such as various hospital costs along with some ailments and specific treatments that were incurred by the insured. Medical insurance and health insurance are more or less the same, but Health insurance is a broader term. Medical insurance can be called a type of health insurance. 

Nowadays, the cost of proper health care is very high and is continuously increasing. Having medical insurance in these challenging times can help individuals and families a lot. 

Having medical insurance nowadays can have the following benefits: 

  1. Medical expenses are costly: Services provided by proper hospitals in our country can cost much money. Owning medical insurance can spare you a lot of money. 
  2. Pre and post-hospital expense coverage: Most of the insurance companies provide cost coverage not only during the hospital stay but also before and after it. The insurance company also covers costs of medications, various test charges, and sometimes even the ambulance charges. 
  3. Treatment options: The insured can choose between alternative treatment methods such as Ayurveda and Homeopathy if he/she is not already comfortable with the present method. This adds more flexibility to the insurance plan. 
  4. Frequent health checkups: The current plans offer free health checkups. Through regular checkups, a person’s illness or health conditions can be monitored thoroughly. 
  5.  No-cash facilities: The insurance companies have standard links with several networks of hospitals. Thus, if the insured gets admitted to a network hospital, then he/she can have to pay no cash at all and sometimes the hospital even provides faster and better service. 
  6. Deduction in income tax: Section 80D of the income tax act adds up this benefit. The insured can get tax relief up to 55,000rs against the payment of the premium. 

There are various types of medical insurance. Some of them are as follows: 

  • Individual Medical Insurance Policy: These plans cover a single person’s medical expenses and services provided. 
  • Family Medical Insurance Plans: With these plans, not one member, but the whole family’s medical expenses can be covered. 
  • Group Health Insurance Plan: Many people can be insured under a single plan provided by these insurances. 
  • Medical Insurance plans for Senior Citizens: citizens above the age of 60 can have extra benefits and coverages under this plan. 
  • Critical illness coverage Plan: Treatments for critical illnesses can cost tons of money. With these plans, the insured can avail of the treatments and services without any tension. 


Having Medical Insurance is necessary. No one knows what the future holds. With small amounts of premiums, the insured can have several benefits without depleting future savings.