Mumbai, the city of dreams, is also India’s financial capital. People from all over the country come to Mumbai to fulfil their aspirations and ambitions. With the fast-paced lifestyle of the city, it is very easy to overlook one’s health needs, but when they fall sick, they meet with the reality of suffering. So, it is important to prepare for probable health risks by buying health insurance in Mumbai.
Although the health care services in Mumbai are excellent, they do not come cheap. Moreover, as diseases and accidents may come at any time unannounced, one needs to be prepared with a suitable health policy.
Just for you to know, health insurance tax benefits are another motivating factor to buy health insurance in Mumbai or any other Indian city.
Why Should You Buy Health Insurance in Mumbai?
With the increase in development, the cost of living has also increased in Mumbai. In tandem, the cost of healthcare services has also increased in the metro city. If we look at health care in light of inflation, it is possible to deplete your savings for the treatment of yourself or your loved ones. Due to this, many people in Mumbai are opting for health insurance.
Benefits of Health Insurance in Mumbai
- Access to the best medical treatment: Leading insurers in Mumbai, like Tata AIG, have tie-ups with top healthcare providers and network hospitals where you can get world-class medical consultation and treatment for your loved ones and yourself without stressing over the medical bills.
- Affordable premium: Compared to the cost of healthcare services in Mumbai, the premium you have to pay for a health insurance policy in the city is much less. It is a small investment you make to enjoy extensive financial coverage to safeguard your loved ones and yourself.
- Pandemic coverage: Health insurance policies offer financial coverage for pandemics like Coronavirus.
- Tax benefits: You can claim health insurance tax benefits under Section 80D of the Income Tax Act and add to your savings along with getting financial protection from the policy.
- Cumulative bonus: With some insurers, you can get a cumulative bonus upon policy renewal if you have not filed for a health insurance claim in the entire year.
What Should a Good Health Policy in Mumbai Cover?
Various health insurance plans have different offerings and coverage extent. However, you can check for the following inclusions in a good health insurance plan:
- In-patient treatment: The policy should cover the expenses for hospital room rent, medicines, ICU charges, and other hospitalisation-related expenses.
- Ambulance cost: A health insurance plan in Mumbai should also cover the cost of an ambulance for the patient’s transportation.
- Pre and post-hospitalisation expenses: These include the medical expenses incurred before and after hospitalisation.
- Daycare procedures: These include daycare treatments that do not require you to get admitted to a hospital.
- Dental treatment: Some insurance plans cover dental treatments if an accident occurs.
- Other expenses: There are several other expenses that a good health insurance policy in Mumbai should cover, like alternative treatment costs, donor expenses, vaccinations, etc.
How to Find the Best Health Insurance Policy in Mumbai?
Buying an online medical policy is a smart choice these days. When you purchase health insurance online, you need not waste hours navigating through the busy streets of Mumbai to reach the insurance company’s office.
You can compare several health insurance plans and buy the best health insurance policy in Mumbai from your home or workplace at a time of your choice. Just keep the following points in mind.
- Assess your needs: Buying a health insurance plan without assessing your insurance needs will leave you stranded in difficult times. Therefore, analyse your present medical condition, lifestyle, medical history, etc., to get sufficient coverage.
- Calculate the policy premium: A higher sum assured leads to a higher premium payable. Use an online health insurance calculator to calculate the premium for a desired sum insured.
- Check the network hospitals: Check the network hospitals of the insurer and ensure there are hospitals in your vicinity in the list. It will help you get immediate medical assistance without spending any money during an emergency.
- Check what is not covered: Along with the policy inclusions, you must also check what the health insurance plan does not cover. This way, you can opt for a plan with the least exclusions.
- Compare multiple quotes: To select the best health insurance policy in Mumbai, you can compare the quotes from several insurers online. Also, compare their services, coverage, and existing customer reviews.
Conclusion
With skyrocketing medical expenses in Mumbai, it is best to buy a health insurance plan in the city. You can compare multiple health insurance plans online and buy one with maximum coverage and a budget-friendly policy premium.