HEALTH INSURANCE
January 15th, 2008 -- Posted in Health Insurance, Health Reviews | No Comments »It is very important for all to have a health insurance cover. This is required for covering the cost for the illness occurred to the insured. These days the medical treatment is becoming more and more costly and to cover that one needs a health insurance. In most of the cases the high bills charged by the Hospitals and Nursing homes are met by the health insurance companies. People are getting aware of the need of a Health insurance; this kind of insurance is also known as medical insurance. Where a health insurance of an individual is important, it is also important for the head of the family to get the health insurance of the entire family done to save themselves from further difficulties.
History and evolution of Heath Insurance: This concept of health insurance was first proposed by Elder Chamberlen in 1694. In the earlier times the health insurance only covered disability of the insured, that is to say it only covered he claims made for disability of an individual. Any other kind of health problem was supposed to be paid by the person concerned. People soon realized the problems they hence companies started making policies for other benefits as well. This took place in the late 20th century.
Health Care Scenario in India: India being a country with a large population and majority of the population living below poverty line, health care becomes a big problem for the country. The situation was even worse before independence, however after independence the situation has gone through a considerably change. There are many primary health care centers for taking care of the health of people. Health insurance is a closer step to improve the health problems of the country.
Contract: A Health insurance is generally an annually renewable contract. The insured or the owner of the policy (if the owner and the insured are two different people) is required to pay the premium every year to renew the contract or to keep the validity of the policy. Like a life insurance, this insurance does not have any net payment of amount at the end of the termination of the contract. However if any kind of cost towards the expense of the health of the owner or the insured is incurred, on production of a valid bill from a recognized health institution the payment is made by the insurance company.
Benefits: There are a few benefits which an individual gets from a health insurance, apart from the bills paid and the medical cover by the health insurance company there are some other benefits like tax benefits under section 80D. The maximum limit is Rs10,000 for a normal citizen and for a senior citizen it is Rs.15,000.
Plans: There are various plans in the health insurance sector, the motive of all are the same: to cover the medical cost incurred by the insured. The different policies offer different facilities they generally depend on the amount of policy paid for the insurance.
