Cardiovascular diseases or heart diseases are one of the leading causes of death rates, globally[1]. The rise in the numbers is mainly due to unhealthy lifestyle habits, eating patterns and lack of physical exercises with unhealthy environmental conditions. Moreover, these diseases can affect people in their most productive years, resulting in a financial burden, especially if you are the breadwinner for the family.
Not many may be aware of this, but buying a health insurance plan may not cover heart disease. The fact is that heart insurance and health insurance are two different policies, but most people tend to mix up both, thinking that health insurance covers heart disease. In this article, we shall understand more about heart insurance and its significant benefits:
What Is Heart Insurance?
Heart insurance is a health insurance policy covering your hospitalization and treatment expenses related to your heart disease. With comprehensive coverage and policy benefits, you get the best treatment and care for your heart.
What Are the Benefits Of Having A Heart Insurance?
When you cover yourself or your family members with a heart insurance plan, these are the benefits you can get:
- Financial Independence
The primary reason heart insurance is a must is that opting for a heart insurance plan provides financial relief to the policyholder and their family. Unfortunately, heart disease or cardiac arrest can strike anyone at any time.
While buying a heart insurance policy, you will find several insurance providers offering policies that cover all the major expenses, including diagnosis expenses, doctor’s fee, treatment charges, cost of medications, etc.
- Possibility of Income Benefits
A sudden cardiac arrest or stroke can result in complete rest post-treatment, which might put you and your family under severe financial crisis if you are the breadwinner for the family.
But when you have already purchased a heart insurance policy, the insured will have a steady income during the recovery period, when they might not be able to work actively. An income is made payable on a monthly basis by the insurer.
- No Claim Bonus
Many insurance providers offer a no-claim bonus in the event of claims not being raised for the defined time. These bonuses accumulate over time, resulting in a larger amount of coverage during medical emergencies.
- Tax Exemption
According to Section 80C, 80D and 10D, of the Income Tax Act, the premiums paid on heart insurance are exempted from tax, which is highly beneficial for taxpayers all over the country.
- Access to The Best Treatment
Heart disease, unlike other health diseases, requires intensive care and best-class treatment for a speedy recovery. However, seeking the best treatment can be expensive, especially if the policyholder and the hospital network are at distant locations.
With the help of a heart insurance policy, the policyholder becomes eligible for lump-sum payments, enabling them to seek the best treatment options available to them. Generally, a heart insurance policy covers significant treatment costs such as angioplasty, heart valve surgery, surgery for carotid artery and cardiac arrhythmia.
- Comprehensive Coverage
One of the key benefits of heart insurance is that it provides comprehensive coverage for all treatment costs at all stages of the illness.
- Tax Benefits for Health Insurance:
The amount of deduction allowed under Section 80D has been increased to Rs. 25,000. While for senior citizens, the amount of tax deductions has been increased to Rs. 50,000.
Today amidst the Covid-19 pandemic, there has been a steady increase in the number of heart insurance policies being purchased. If you are thinking of purchasing heart insurance, remember to do your research and look at trusted insurance such as Care Health Insurance.
They are amongst India’s leading insurance companies providing a host of insurance plans, tailored to the needs of different individual, age groups and goals. Check their website to explore your options for heart insurance and get yourself insured today!
