Health insurance is a financial safety net that helps cover your medical expenses if you get sick or injured. By paying a premium, you receive coverage for a variety of healthcare needs, including hospital stays, daycare procedures, and treatment for critical illnesses. This means you won't have to worry about paying large medical bills out of pocket.
Many health insurance plans offer additional benefits like free medical check-ups and cashless hospitalisation, allowing you to get the care you need without upfront payments at certain hospitals. These features ensure that you can focus on your health and recovery, while your insurance takes care of the financial aspects. One of the advantages of health insurance is the tax benefit under Section 80D of the Income Tax Act. You can claim a deduction on the premium paid for yourself, your family, and even your parents. This helps you reduce your taxable income while ensuring financial protection for medical needs.