What is Health Insurance and Why Do You Need It?


Health insurance has become a requirement due to the steadily rising expenses of healthcare and the medical sector in our nation and the increasing incidence of ailments. People can avail the much-needed financial support they require or need from health insurance in case of emergency. Uncertainties and health hazards are a part of life. It is impossible to plan for illness, but it is possible to prepare financially. One of the best preferred methods to prepare financially for unforeseen health risks is to buy health insurance.

What is a Health Insurance Policy?

In health insurance, an insurance company promises to pay for medical expenses incurred by the policyholder during the policy’s term as part of a contract with the policyholder. If the insured becomes ill or has to face a tragic event that requires or necessitates hospital treatment, they can be responsible for paying medical expenses and bills, according to the conditions of the policy. The policyholder must pay a set amount on a regular basis, known as a premium, in order to use the policy’s coverage benefits. The insurance provider sets the premium, which must be paid without fail either monthly, quarterly, half-yearly, or annually by the policyholders.

Why Do You Need Health Insurance?

After understanding what is health insurance in India, it is important to understand why you need a health insurance policy.

Growing Medical Expenses

The cost of healthcare has recently significantly increased. Therefore, customers eventually end up using their savings in the event of a medical emergency, which has an impact on their future plans. Therefore it is crucial to have a health insurance plan.

Changing Lifestyles

There are many justifications and reasons for having health insurance in place. Our lifestyle’s tectonic change has increased our susceptibility to a variety of illnesses. The likelihood of acquiring health issues has increased as a result of commuting, stressful work schedules, poor eating habits, food quality, and rising pollution levels.

Additional Benefits

Under health insurance, one can also receive benefits like ambulance coverage, coverage for daycare surgeries, coverage for health checkups and vaccine costs, etc.

Benefits of a Health Insurance Plan

Buying an individual health insurance policy has many benefits. Additional benefits are added to the list when purchasing individual health insurance coverage online. There are various types of health insurance in India like individual health insurance plans, family floater plans, senior citizen plans, top-up health insurance plans, etc. All these plans offer various benefits. Some of them are listed below: 

Cashless Treatment at Top Network Hospitals

Individual health insurance plans in India also permit cashless claims at any of the best hospitals in the country. In a cashless surgery, your health insurance provider pays the hospital bills directly on your behalf to cover the cost of the procedure. To be eligible for cashless treatment benefits, however, you must request admission at one of the network hospitals, as specified by your health insurance policy. You might also need to fill out a pre-authorisation form and show your health insurance card in order to access the cashless treatment facility.

Complete Protection against Medical Expenses

Having health insurance enables you to receive the best care possible during a medical emergency without having to use up your savings. In other words, the best health insurance company in India will offer full protection against medical costs, which depending on the situation, can climb quickly.

Examine Policies

One of the primary benefits of buying the finest individual health insurance plan online is the chance to compare the policies of several insurers that offer the same plans. After that, you can choose the best choice for your needs.

Eligibility for a Health Insurance Plan

Almost everyone has access to purchase health insurance. Health insurance companies often classify people based on their age and medical history.

Age Requirements

Depending on the rules of the insurance business, an Individual plan’s end age can range from 65 to 70 years old, and its entry age is 18 years old. Parents can purchase separate health insurance for their children after they turn 18 years old.


Your insurance companies will typically ask for the records below while reviewing your application for individual health insurance policies. These are acceptable forms of identification, proof of residence, age, and even health. You might have to undergo a few quick medical tests in order to be approved for individual health insurance coverage.

People must get health insurance policies for both themselves and their families due to the ever-rising expense of medical care. In India, Niva Bupa provides extensive health insurance plans that cover all illnesses, conditions, and accidents. Due to this, it is necessary for a buyer to invest the time and effort necessary to properly understand what is health insurance and the types of health insurance in India.

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