The phrase "Health is Wealth" is often forgotten by most of us. If we lose good health, no money will be able to give us pleasure. Most of the things can be bought by money but not good health. Therefore, it is something that needs to be taken care of very cautiously. It is the duty of every individual to look after his/her health at all times. Remembering the fact that life is full of uncertainties is important to remain proactive at all times. You never know what might happen in the next second. Therefore, making arrangements for the times of misfortunes is important. Health insurance proves to be the most effective investment towards your health.



Health insurance covers all the medical expenses for the person being insured. Although this concept is relatively new in the country, the awareness regarding it is growing. It proves to be of great help at the times of severe emergencies. It can make a person feel safe and secure from bearing huge medical expenses. An insurance policy is a contract between the insurance company and an individual. This can be renewed annually. Before applying for a health insurance policy in India, the costs covered by the health plan are specified by the insurer.

The medical costs have become sky high these days. Even an appointment with a doctor can make you pay big bucks. The expenses on medical treatments could take a big part from your savings account for sure. This is when a health insurance kicks in to ensure that you receive the required medical treatment while your banks' is still under control. It is important because the coverage helps an individual to get medical care in order to improve the overall health. The health insurance policies offered by company come with their own unique agenda. Customers don't only insure themselves but also their family members keeping in mind the vulnerabilities of getting affected by health problems. There are various health insurance plans in India today. However, they can be broadly classified into two:

Medical Insurance: This is typically the hospitalization cover for the ones being admitted as a patient. It is a reimbursement of the expenses regarding the medical treatments carried out. Different types of medical insurances are available in the market like individual medical, group and overseas medical insurances. These policies are also popularly known as "Mediclaim".

 Critical Illness Insurance: A Critical Illness plan insures an individual against the risk of chronic diseases in return of the premium paid. It gives you the security of knowing that a guaranteed sum will be paid if you are diagnosed with any of the critical illness mentioned in the policy. The amount is received within a few days after being diagnosed with the problem. The diseases mentioned below are typically covered in every Critical Illness Insurance plan:

• Cancer
• Kidney failure
• First heart attack
• Aorta Graft surgery
• Major Organ transplant
• Paralysis
• Stroke
• Coronary artery bypass surgery

With each insurance company providing with their own unique policies and offers, it is an important to select the right one. Factors like price, terms of the policy are important to be noted while choosing your financial health partner.