The COVID-19 Outbreak!

Did we know that we value health so much? More than businesses, careers and economies worldwide! Of course, we prioritize health because if we are healthy, only then we can enjoy the various other experiences, right?

The people, who did not leave their business or shop for a day, are sitting at home since two months because of this lockdown.

The people who were passionate for travelling are commuting only from living room to kitchen.

The people, who were obsessive about their career, are facing a stand-still.

Of course, if we are keeping everything aside just to be safe during this pandemic, health is of topmost priority for us undoubtedly!

And to be honest, it is not only this pandemic; in general too, there are various diseases that we must protect ourselves from. Because of our hectic schedules, increase in pollution levels, changing lifestyle habits, and various other factors, one might face medical diseases and several health conditions.


And once you face medical problem, the big worry here is how to pay for it? We have seen in many movies and it is true, that the medicals costs linked with the treatment of these diseases are rising rapidly. Once you enter a private hospital, be prepared to spend lakhs of rupees. And if you cannot afford a private hospital, you will have to bear the brunt of compromised services in Government hospitals. This is, but, the sad truth of today. Though the treatment at Government hospitals might be good, but the hygienic conditions and various other factors might have gone for a hit. In such a scenario, one might think that opting for a private hospital is better and more hygienic; however, you might not be able to afford it.

The treatment costs are so expensive in some hospitals that you might even call them money-minting machines. Sometimes, you may go with a budget of a few lakhs, and you will be charged triple the amount. What are you going to do then? Well, in such situations, rather than being sorry later, it is better to be safe. For safeguarding your finances as opposed to high medical bills, it is crucial to invest in Health Insurance Plans. These plans cover almost all hospitalization expenses right from pre-hospitalization to post-hospitalization. Even if there is expenditure from your end, it will be really less.

Health insurance helps you to bear the cost of your treatment with minimum possible expenses, so that you regain your health and not burden yourself financially too. In this way, there will be less mental stress as the expenditure is being borne by the insurance companies.

At Credit Bazaar, we provide you with assistance for Health Insurance Plans, and here we discuss the advantages of it and why you should go for it, if you haven’t already:

  1. Coverage against medical expenditures:

The main reason to get a medical insurance is for receiving the best healthcare without any stress on your finances. Even if you or your family member is facing a medical problem, there must be no mental financial stress as an add-on to the physical disease. These plans provide a safety cover to you against high medical expenses.

health insurance plans

Thus, you just have to focus on speedy recovery and praying for good health, and not on the financial costs. This takes a huge strain off your back when you are faced with such a condition. Imagine not having a health insurance during this time, firstly, one will be terrified of the disease, and secondly, how to pay for its treatment. Such a kind of mental burden can put lead to a huge psychological stress that need to be thought of now, and every member of the family must have a health insurance.

A disease could strike anybody at any point of time, but at least, one must be capable of affording the remedy and the treatment. Financial stress should not lead to loss of lives and inability to go for a treatment, if there is a cure. A person’s life is the most important, and no amount of money can buy it. Nor should it be let gone just because of high medical treatment costs.

2. Coverage against Critical Illnesses:

life threatening diseases

For critical illnesses specially, there are various plans available as an add-on or a standalone scheme. Insurance providers will tell you about such plans. Such a type of insurance policy gives coverage against life-threatening diseases such as bone marrow transplant, loss of limbs, kidney failure, and so on. When a critical illness is diagnosed form the predetermined list of the policy, you are entitled for receiving a lump sum amount. This fund may be used to meet your illness-related treatment expenses, various financial obligations, and other daily expenses.

Credit Bazaar sympathizes with people facing such life-threatening diseases and we can only imagine what a plight they must be going through. Such a disease might come as a shock for many, just like all hell let loose. The least one can be safe against at this time, is the financial burden of the same. Mentally, one will at the minimum, know that they are monetarily secured, and the physical stress has to be faced now. Therefore, it is very crucial to opt for a health insurance for such illnesses, either separate or attached to the regular health insurance, just to make sure that you are completely safeguarded financially.

3. Added Protection over and above your regular employer cover:

Okay! So your organization is very kind and has provided the employees with a group insurance plan. However, this is a very general kind of insurance and does not cover individual needs of every person. It is not customized to your personal needs. Moreover, you might also be left uninsured in case of change in employment or loss of job. For protecting yourself against such an event, buy a health cover individually. In this way, you can focus on what exactly you want to cover in your insurance. A general cover might skip on various conditions and can only give you selective coverage. Thus, to add protection means to be double secured.

4. Benefit of cashless claim:

This is a very important facility provided by many insurance providers. It can be very beneficial if you have added the cashless claim facility to your insurance. In such a type of arrangement, you need not pay any out-of-pocket payments. The hospitalization expenses are settled between the hospital and the insurer. But for availing this benefit, it is imperative for getting admitted at any of the network hospitals of the insurer. You might fill out a pre-authorization form and then display your health insurance card for enjoying the cashless facility.

cashless claim

During an urgent health emergency, you might not have the necessary cash or money for paying deposits in hospitals. In such situations, this cashless claim facility acts as a blessing as one does not need to pay anything, and everything is borne by the insurer. A health issue might arise in case of any individual, but such insurance plans help you truly during such adverse times. This is one crucial benefit that you must ensure that your insurance plan holds.

5. Benefits of Tax:

Healthcare plans provide several tax benefits. The premiums that you pay for your healthcare policy are eligible under the Income Tax Act, for tax deductions. This is under the Section 80D that the quantum of deductions is mentioned in detail. Such deductions results in a lot of savings for the individuals. For encouraging health insurance, such benefits are provided to the citizens of the country. Hence, purchasing health insurance now will make you eligible for deductions on income tax bills, helping your gain higher benefits.

6. Profitable offers:

See, if you want to learn about the health insurance industry, one thing observed is that the earlier you start, the more advantageous you get. This is because of a simple though-process that usually diseases attack a person as the age grows, and the immunity decreases. This might not be true for all, but generally perceived phenomena. Therefore, there are more advantages for younger people opting for health insurance, and the offers decrease and the amount of insurance plan rises, as the age increases. So if you are planning early, you might get hold of a great deal. If you plan to purchase health insurance in an early age, you become eligible for better advantageous deals as compared to others, be it adults or senior citizens at a lower premium. This is because the chance of getting ill at a younger age is low; it becomes easier to get through pre-existing diseases, waiting periods, and much more. Furthermore, it becomes easy to claim all the benefits. Otherwise for the older people, if a disease strikes during the waiting period of the policy, they might not be able to take full advantage of the plan. Sometimes, it might also render useless. So in order to take optimum benefits, starting early off is the key.

7. Transportation Charges:

Several insurance plans cover varied benefits. Some might cover all, while others may cover few, depending on what you choose. It is important that you study the insurance plan completely, before opting for one. So many plans cover the ambulance charges too for the transportation of the insured person. We must know that ambulance charges are high too, depending on the facilities provided inside the van. For critical cases, there are high-facility ambulances that have higher hiring costs. Such expenses will be taken care of by the insurers if it is included in your plan. Therefore, the requirement for arranging a vehicle during this emergency situation gets completely eliminated.

8. Convalescence Advantage:

This is also known as recovery or recuperating benefit. In this circumstance, the insurer takes care of the recovery expenses of the insured. This advantage is provided to cover the supplementary costs that might arise because of hospitalization, such as loss in income. The insurance gives a lump sum amount to the policyholder in case of prolonged hospitalization, ranging from about 7 to 10 days. In few policies, linked expenses such as compassionate visits by the family members are also covered under the plan.

See, when a person is admitted, there is not just one big expense, but also a number of small expenses. Even if the major costs are covered, these all minor expenses make up for a lot of added costs. That is why, these recovery expenses are also very important to be borne by the insurer. A person may relax fully when almost all the expenses are covered under his/her insurance plan.

Alternative Treatments:

In the recent years, people are focusing largely on alternative treatments too. The effects of Allopathic treatments are being recognized and people generally are trying to reduce the use of it. Where Allopathic is necessary and unavoidable, it is used, but where alternative treatments can also be beneficial, more and more people are going for it. Even the insurance companies are covering these treatments such as Homeopathy, Yoga, and Ayurveda. There are special health covers for traditional or alternative treatments.

Are you aware that the Queen of England and the entire Royal family greatly relies on the Homeopathy form of medicine? And they are actually known for their good health and life expectancy. So, if people on top are choosing and trusting on these alternative treatments, there must be a certain level of advantage in them, right? So, if you are thinking for opting for them, there are insurance covers available for them too, that you must go for.


On a whole, there are various Health Insurance plans available with several benefits that help you to skip the financial distress for availing medical treatments. Hence, it is very advantageous and crucial to have a Health Insurance Plan in this day and age. So, although you cannot ensure a totally risk-free life, you can opt for insurance for dealing with unforeseen incidents that you might come across. Credit Bazaar provides complete assistance for several Insurance Plans such as Health Insurance, Life Insurance and General Insurance, so that you choose what’s the best for you!

For any queries regarding Credit Score improvement or Loan contact Credit Bazaar CR Arcade 2nd Floor, Opposite Delta Garden, Next to Shree Mahalaxmi Restaurant, Mira Road East, Thane : 401107

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