What is Health Insurance?

health insurance

They say you might have 100 problems in your life. But as soon as you face a health problem, just one remains. Yes, caring for our health and our family’s health is essential for all of us. That is where health insurance comes into play. This not only covers your family’s medical conditions but also provides you security and peace of mind when you need it most.

What Is Health Insurance?

Now, you might be curious about what is health insurance. Medical and surgical costs are unpredictable in everybody’s life. Health insurance is a financial plan that works as a buffer and helps you cover those medical expenses under an insured plan when you meet in case of medical emergencies. Various health insurance plans provide you with various benefits like preventive care, covering the hospital, expenses, daily routines, checkups required for your health, and so on.

The Benefits Of Health Insurance

To consider opting for a health insurance plan, it is essential to know its benefits. Read about them below:

Peace Of Mind

How many days did you spend worrying about your family’s health and proper medical conditions? This is natural because we all know the rising expenses that hospital bills bring. But when you opt for good health insurance that covers most of your medical expenses, you spend peaceful days and nights knowing your costs are taken care of when required.

Coverage Of Wide Range Of Services

Comprehensive health insurance covers all your expenses, from routine checkups to laboratory tests, hospital expenses, doctor visits, and so on. You can use all the services when you require them, even in emergencies.

Hospitalisations And Special Care

Sometimes, during emergencies and medical attention, you are required to enrol in special hospitals for medical care. Not all of us can afford them in regular cases. However, if you opt for good health insurance, you can get a special hospitalisation advantage along with special care for yourself and your family.

Immediate Coverage of Emergencies

Many people cannot afford to improve medical care and emergency hospitalisation because of a lack of funds. But with good insurance, you immediately get coverage for these services when you require them.


Most of the health insurance plans are very tax-friendly. if your annual salary is ₹9.5 lakhs, you can reduce your taxable income through deductions for health insurance premiums paid. If you pay a premium of ₹50,000, and you are below 60 years old, you can claim a deduction of up to ₹25,000 annually for your health insurance premium under Section 80D of the Income Tax Act. This means your taxable income could effectively be reduced, depending on your total deductions and how they are applied in your tax calculation. For individuals aged 60 years and above, the deduction limit is higher, at ₹50,000. Additionally, if you pay premiums for your parents who are under 60, you can claim an extra deduction of ₹25,000, which increases to ₹50,000 if your parents are aged 60 years or above.

These benefits make it clear that health insurance is extremely important for all of us for a better and more peaceful future. However, ensure that you seek expert advice while choosing the best health insurance for yourself and your family.

Shashank Sharma
Shashank is a tech expert and writer with over 8 years of experience. His passion for helping people in all aspects of technology shines through his work. He is also the author of the book "iSolution," designed to assist iPhone users. Shashank has completed his master's in business administration, but his heart lies in technology & Gadgets.

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