Taking the right steps for the right reasons should not be delayed – Get a health insurance plan for self and all family members – with adequate coverage.
It’s all about health that goes a long way in keeping your finances fit. Money spent on meeting hospital and medical expenses could have serious implications on your long-term savings. And, the COVID-19 pandemic is one such health issue that may play havoc with your savings. From the testing phase to getting treatment at a decent hospital, the hospitalization cost can run into a few thousand, if not lakhs.
The changes in the lifestyle and working environment, especially for the salaried, are taking a toll on individuals’ health. Further, there could be genetic and family history of diseases that may lead to various ailments, thus requiring hospitalization and putting pressure on finances during and post hospitalization.
What should you do?
The best solution is to be prepared and have a plan in place to meet such high medical costs for self or any family member. Taking the right steps for the right reasons should not be delayed – Get a coronavirus health insurance plan for self and all family members – with adequate coverage. Having bought a health cover ensures peace of mind for a lifetime with even the pre-existing diseases being covered after a certain period of time on the continuous renewal of the policy.
Dipping into your savings to meet medical costs, which are rising every year owing to medical-inflation, should be avoided at all costs. By doing that, to meet hospital costs, you end up jeopardizing your long-term financial goals such as children’s education, home buying, etc. The cost to insure your hospital bills is only a fraction of the coverage amount.
How Are Medical Bills Reimbursed?
By paying a small amount, called a premium, the insurance company re-reimburses the hospital bills up to the maximum limit (sum insured) if one or more members of one’s family get hospitalized during the term of the policy. The good thing is that even hospitalization expenses due to Coronavirus are covered by health insurance plans. With the COVID-19 spread not looking to be contained anytime soon, it’s important to buy a health insurance plan as early as possible and not leave anything to chance.
How to Buy a Health Insurance Policy?
The country is in a lockdown phase, but moving out of your home to purchase a health insurance policy is not what is required these days. You can buy health insurance policy online directly from the insurance company by accessing the insurer’s website. What’s more, you may not have to undergo medical tests during the purchase of the policy.
You merely have to enter a few personal details such as your name, address and give a self-declaration during the online buying process. After making the payment, the policy document will be generated and issued quickly.
How To Be Safe?
In these times, staying indoors is safe, and while you are inside your home, it’s time to also keep your savings safe. The process to buy a health insurance policy online is simple, easy, and less time consuming with absolutely no hassles.
Thus, while you maintain personal hygiene by staying at home, washing your hands regularly, keeping away from the sick and unknown people, wearing masks while going out, etc., having a health insurance plan is also a basic necessity to keep yourself as well as your savings safe. So, what are you waiting for?
(This article is sponsored by Reliance General Insurance)