India is seeing a concerning rise in risks related to heart health. In 2022, there was a 12.5% increase in heart attack cases, according to the National Crime Records Bureau’s data. This issue is affecting people of different age groups because of multiple factors such as stress, lifestyle, and genetic predisposition.
Cardiac insurance in India helps manage the expenses incurred during its treatment. In this blog, we will discuss the importance of buying cardiac health insurance in India.
What is Cardiac Insurance?
Cardiac insurance is special insurance that provides coverage for conditions related to the heart, such as heart attacks, valve disease, arrhythmia and more. These policies cover individuals between the ages of 7 and 70 years diagnosed with cardiac ailments. Moreover, these plans include coverage for hospitalisation and daycare expenses.
What are the Advantages of Cardiac Insurance?
There are multiple benefits to opting for cardiac insurance. Let us discuss a few of them hereunder:
1. Provides Overall Coverage
It offers comprehensive coverage of Rs. 5 lakh health insurance and more for various types of cardiac issues, with the necessary procedures. It ensures that you receive complete coverage against most health conditions.
2. Cashless Facility
You have the chance to get smooth cashless health insurance access to network hospitals. It is crucial during times of emergency because it ensures that you will receive quick assistance without having to stand in a queue to make an upfront payment.
3. Ambulance and Transportation Expenses
Cardiac insurance often includes coverage of transportation charges. It is the expense that you have incurred at the time of attending a heart-related emergency.
4. Flexibility in coverage
Insurance providers also give you the liberty to customise options out of the overall range that suits your needs. You can plan your insurance policy in a way that enhances your plan by adding optional riders.
5. Tax Benefits
The premiums that you pay towards a cardiac insurance policy are eligible for tax deduction under Section 80D of the Income Tax Act, 1961. These expenses also play a significant role when you want to plan your finances.
6. Payout on Diagnosis
This is a scheme under which the policyholder receives a lump sum benefit on being diagnosed with any heart health issue. You need to submit a medical report from a cardiologist to the insurance provider.
What is the Importance of Cardiac Health Insurance?
There are many reasons why you must consider opting for a cardiac insurance plan. Let us discuss in detail hereunder:
1. Rise in Medical Expenses
As health risks continue to rise, medical inflation is also on the upswing. The cost of comprehensive heart treatment can be overwhelming for many Indian families. Opting for cardiac insurance can help ease this financial burden by ensuring the insurance provider pays for such expenses.
2. Peace of Mind
Heart issues do put a lot of financial pressure and are also stressful at the same time. The conditions, such as uncertainty of health, planning treatment, and stress, do add up to a mental burden. Cardiac insurance provides mental safety where you do not have to stress about the financial and medical crisis of undergoing treatment.
3. Increasing Chances of Lifestyle Disease
Today’s lifestyle plays a significant role in triggering cardiovascular diseases (CVD), high blood pressure, and strokes, inflicting many in India. Having cardiac insurance as a safeguard for the future is a precautionary measure that you must consider.
4. Reducing Probable Delay Times
During times of emergency, any limitation in the flow of finance will lead to a delay in the treatment. During this, the situation of the patient might deteriorate and become life-threatening. With cardiac insurance, you will be able to avail of the right treatment at the right time.
What are the Documents Necessary for Heart Insurance?
When you go to an insurance provider for cardiac insurance in India, there are certain documents that you must carry along. Here is a list of all the necessary documents:
- Age Proof: For this purpose, you must submit a valid document with your correct date of birth. You can carry either your birth certificate, Aadhaar card, or passport.
- Identity Proof: It must be an ID proof issued by the Government of India. It can be a passport, driver’s license, or Aadhaar card.
- Address Proof: You have to produce a document that records your permanent address for this requirement. The documents under this can be a passport, driver’s license, utility bill, electricity bill, or Aadhaar card.
- Passport-size Photo: The policyholder must ensure that the passport-size photo they provide is a recent one.
- Medical History Report: Certain policy plans necessitate submitting a recent medical report while buying cardiac insurance in India. This is generally the case for individuals at the age of 45 or above.
How to Select the Right Heart Insurance Plan?
Multiple cardiac insurance providers in India offer policy services. However, there are certain criteria that you must look out for before buying a policy.
1. Assess Personal Health Risks
You can start by assessing your family’s health history to understand the potential health risks regarding heart issues. This will help you decide to buy the best cardiac insurance in India. Know that by following this process of choosing an insurance plan, the procedure of selecting the most suitable insurance policy will be streamlined.
2. Evaluate Coverage Options
You must compare all the cardiac insurance policies from different policy providers available in the market. While assessing the differences between the various policies, you will be able to understand what coverage levels, inclusions, exclusions, and limitations are being offered.
With a health insurance premium calculator, you can quickly check the premiums of various mediclaim policies across insurance providers and compare their prices.
3. Understand the Policy Terms
After you have made the choice, you have to go through the policy document thoroughly to understand the key terms and conditions of cardiac insurance in India. Once you go through the policy, you will understand the important details, such as the claims process, coverage conditions, and premium amounts.
Conclusion
Buying the right cardiac insurance in India can be life-changing if you are suffering from heart issues. Such insurance policies tend to cover both cardiac and non-cardiac ailments, such as diagnosis expenses and others. Moreover, it will help you save your finances in case of health emergencies.