Health insurance, or medical insurance, is a type of general insurance that helps protect you from financial losses by covering your medical expenses. It provides support when you face a health issue or medical emergency, whether from illness, disease, or an accident.

Emergencies come unannounced and with the rapidly increasing healthcare costs, a single medical emergency can cause a serious blow to your finances. Therefore, to safeguard yourself and your finances, having a healthcare policy is a smart choice.

A health insurance policy not only provides you coverage against your health expenses, but it offers other benefits as well.

Intrigued? Read on to find out more.

1. It’s your safety net for medical bills

The primary benefit of a health Insurance is that it covers your hospitalization expenses in case of an accident or illness, saving your bank balance from taking a major hit. This includes expenses incurred pre-hospitalization and post-hospitalization, annual  health check-ups, psychiatric support, critical illnesses and maternity-related expenses amongst others, as per your customized health insurance plan. 

2. It makes for a good tax saving tool *

Under Section 80D of the Income Tax Act, you can reduce your taxable income by claiming deductions on health insurance premiums. This benefit applies to premiums paid for yourself, your spouse, children, or even your parents. It’s a great way to save on taxes while ensuring you and your loved ones are covered.

3. Get the right care, right on time

Imagine needing treatment for yourself or a family member, but lacking the funds to proceed, forcing you to delay it. This can often worsen the situation. Health insurance is crucial because it prevents this, ensuring you receive timely care without financial stress.

4. Enjoy your peace of mind

Isn’t it comforting to know that someone has got your back during difficult times? A health insurance policy is like that friend that you can call in time of need. Whether it’s an emergency or a planned procedure, you can rest assured that your medical needs will be taken care of.

L&T Finance Limited is a corporate agent registered with Insurance Regulatory and Development Authority of India bearing registration No. CA0867 Insurance Plan is offered and underwritten by Go Digit General Insurance Limited. Decision to purchase/avail an insurance plan by the customers is purely on voluntary basis.| Digit Group Hospital Cash Policy UIN: GODHLGP21147V012021|Go Digit General Insurance Limited | CIN: U66010PN2016PLC167410 | IRDAI Regn. No. 158 | Corporate Office Address: Atlantis, 95, 4th B Cross Road, Koramangala Industrial Layout, 5th Block, Bengaluru 560095 | Registered Office Address: 1 to 6 floors, Ananta One (AR One), Pride Hotel Lane, Narveer Tanaji Wadi, Shivaji Nagar, Pune-411005, Maharashtra |  Trade logo of Go Digit General Insurance Ltd. displayed above belongs to Go Digit lnfoworks Services Private Limited and is provided and used by Go Digit General Insurance Ltd. under license. | Toll Free No (1800 258 5956/1800-103-4448)| www.godigit.com/general-insurance | For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale

* All charges/taxes, as applicable, will be borne by the Policyholder. Tax Benefits as per prevailing Income Tax laws shall apply. Please check with your tax consultant for eligibility.

(b) Source:  A Niti Aayog report,  Article dated: 28-10-2021.

(c) National Library of Medicine, Economic Burden of Accidents and Injuries in India: What Does 75th Round of National Sample Survey Imply? Article dated 12-01-2024.

(d) Medical Tourism, India’s 14% medical inflation stares a hole into its standing as a low-cost medical tourism destination. Article dated 29-11-2023.