‘Health Insurance’ is a type of insurance that essentially covers the hospitalisation expenses of the Insured person and may be their family members. Health insurance policy like other policies is a contract between an insurer and an individual in which the insurer agrees to provide specified health insurance cover at a “premium” subject to terms and conditions specified in the policy.
Hospitalisation expenses can be quite prohibitive and having a health policy mitigates to a great extent the financial burden of hospitalisation of a dear one. Individual can get himself covered, along with his family members.
What is covered and what is not?
Medical expenses incurred under various heads like room, boarding expenses, nursing fees, doctor’s consultation, investigation, medicines etc. The insurance policies are effected to cover the contingencies, therefore any pre-existing diseases are excluded from the scope of the policy. Cosmetic treatments, dental treatments, expenses related to pregnancy and childbirth, circumcision etc are some of the other exclusions of the policy.