Everything You Want To Know

Health insurance covers your medical expenditures and limits your out-of-pocket payments up to the Sum insured.

A health insurance policy assures that you may receive cashless care at a network hospital, with most Health Insurance policies covering 30 days and 60 days pre and post hospitalisation, respectively.

Personal Accident (PA) Cover, Critical Illness (CI) Cover, and other benefits can be added to the Base Health Insurance Plan to increase its value. These items are offered for a very low cost and provide advantages that are not included in the Base Health Insurance plan. A PA plan, for example, can aid by covering disability, which is often not covered by a regular health insurance plan. For a PA cover, there is no requirement for a waiting period or medical examinations.

One may also buy in one of the popular senior citizen health insurance policies to provide total protection for their elderly parents or to safeguard their old age, which frequently carries with it a slew of maladies that necessitate costly medical care.

The Benefits of a Health Insurance Policy

Health insurance plans have expanded their services to meet a broader range of needs, such as a family health plan, which provides comprehensive coverage to all members of a family under a single roof.

  • Medical Bills: Protection against incurred medical bills, including pre and post hospitalisation.
  • Pre-existing Diseases: After a specific waiting period, you will be covered for any pre-existing sickness.
  • Claim Reimbursement: Coverage for hospitalisation expenditures incurred as a result of a medical condition.
  • Tax Credit: Annual premiums paid for health insurance are tax deductible under Section 80D of the Internal Revenue Code of 1961. The tax exemption is between Rs. 25,000 to Rs. 75,000.
  • Tax advantages are subject to changes in tax rules.
  • Other Advantages: As an innovative feature, OPD charges are now covered by a few insurer plans and do not require hospitalisation for a minimum of 24 hours in order to be reimbursed. There are also stand-alone OPD plans on the market.

SIB Health FAQs

Health insurance is a type of insurance that covers a person's medical and surgical expenditures in the event of a medical emergency. However, in order to obtain a health insurance policy, you must pay a premium.
You should buy health insurance so that you don't lose your life savings while paying for medical expenditures in an emergency.
If you choose the cashless option, your health insurance will either pay your hospital bills immediately or refund any payments you make for medical expenditures incurred as a result of a sickness or injury.
While the eligibility age for various health insurance plans varies, the basic eligibility age for people is from 18 to 65 years. Children must be between the ages of 90 days and 18 years to be eligible.
Yes! If your plan allows it, you can obtain coverage for yourself, your spouse, your children, your dependent parents, and a variety of additional connections like as parents-in-law, siblings, and others.
Yes, you have the option of purchasing a different plan based on your individual medical needs.
Personal Health Insurance Plan, Family Floater Health Insurance Plan, Senior Citizen Health Insurance Plan, Critical Illness Insurance Plan, Maternity Health Insurance Plan, Group Health Insurance Plan, and Personal Accident Insurance Plan are all available to buy.
In most cases, the health insurance premium is paid once a year. However, you can pay your subscription in monthly, quarterly, or semi-annual payments.
The benefits of health insurance vary depending on the coverage. Basic health insurance coverage, on the other hand, include inpatient hospitalisation, pre and post hospitalisation, childcare treatments, emergency ambulance expenditures, organ donor expenses, domiciliary hospitalisation, OPD expenses, and other services.
Cancer, stroke, heart attack, kidney failure, and other life-threatening conditions are covered by critical illness insurance. When you purchase a critical illness plan, you may anticipate comprehensive coverage for critical diseases (the number of illnesses covered varies by plan), a lump-sum pay-out upon diagnosis, tax benefits, and more.