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Securing Your Child's Health This Yoga Day

dateKnowledge Centre Team dateJune 21, 2021 views242 Views
Buy the Best Health Plan Online | Health Insurance Coverage

After its inception at the United Nations General Assembly in 2014, International Yoga Day has been commemorated annually on June 21st since 2015. Yoga is an ancient Indian mental, physical and spiritual exercise to keep you physically fit and healthy. But is Yoga enough to protect your kids from life-threatening diseases? What else can you do to safeguard your child's health? Let us delve deeper to understand why you need to cover your kids health with the best health insurance plan that is available in India.

Kids go through stress. Let’s admit it.

School pressure, never-ending learning, busy parents, computer games, and competitive sports are part of the daily grind. We may not expect things to become difficult for our children, but they often do. The rapid pace of our children's lives may harm their inner happiness, which is generally not for the better. What can be an acceptable solution to this?

This is where Yoga comes to the rescue; Yoga is a centuries-old practice that has gained popularity in recent decades as people have realized the connection between physical, mental, and spiritual well-being. Children also experience various concerns due to a demanding lifestyle. But keeping your child active with Yoga is sufficient?

Safeguard your Child's Health with the Best Health Insurance Plan

Children's immune systems are weaker than adults, making them more vulnerable to sickness. Furthermore, they have a limited capacity to fight infections. Therefore, even little problems in children, such as being injured, getting a cold or cough, or having hairline fractures, may progress to a serious illness if they are not treated properly. You can cover the costs associated with certain medical problems by purchasing the best health insurance.

Any person's priorities lie with their family's health and financial stability. One way you can secure your child's health is by including them in your health insurance coverage. You can do this by opting for a family health insurance coverage plan. A family health insurance plan provides financial security to your loved ones in the event of a medical emergency.

Learn how a health insurance plan protects you from health and financial risks.

Furthermore, with rising medical prices in India and throughout the world, access to high-quality healthcare has become extremely costly. Having good family health coverage will enable you to get these treatments at a reasonable cost without draining your bank account.

Three Benefits of Covering your Child in a Family Health Insurance Plan

1. Lower Premium

You can add your child to the same health insurance policy as your to significantly lower the premiums. Kids can be covered under the same policy as parents. The earlier you buy the health insurance plan or add them to your existing health plan, the lower the premiums. Premiums of life insurance plans increase with age as we become more susceptible to diseases with growing age.

2. Having a financial backup when required

Having a health insurance plan ensures that you have a financial backup if your kid needs medical treatment. Although it is really depressing when you think about any unfortunate event that may happen with your kid, but being prepared for such situations is a wise move.

3. Tax benefits

Health insurance, similar to any other type of insurance, accompanies tax benefits. Section 80D of the Income Tax Act of 1961 allows you to claim a tax deduction for any health insurance premium you pay.

Learn how medical expenses can be claimed under Section 80D.

Now that you know how you can secure your child's health this yoga day in an effective and better way, pick a health insurance plan which productively fulfils your requirements at a reasonable rate. We are here to help you with that!

Health First Plan by Canara HSBC Life Insurance

Canara HSBC Life Insurance has carefully designed this plan to help you safeguard your family's health care needs in time of emergencies. The plan offer the following benefits:

  • The choice to cover against heart diseases, cancer conditions or major critical illness concerns.
  • Maximum coverage at economical premiums.
  • To tackle growing medical needs, the benefit of increasing cover.
  • Provision of lump-sum payout when the first diagnosis of illness is made irrespective of the amount paid.
  • If diagnosed with minor conditions covered under cancer and heart cover for the first time, waiver of all future premium options is available.

Providing your child with health care coverage is the best way to secure your child's health on the occasion of Yoga Day. Choose to invest in Health First Plan and shield your child from the mishappenings of life.

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Frequently Asked Questions (FAQs) for Life Insurance

Buying health insurance online is cheaper and more convenient than getting a policy through an agent. Insurance companies work on the premise that people who have access to the internet and are willing to buy policies online are more likely to be better-off and healthy. Moreover, online plans save a lot of money for the companies as the administrative costs such as documentation and office space get eliminated. The insurance companies pass on the savings to the customer and offer lower premiums on online health insurance plans. With online plans, you do not have to visit the bank of the insurer’s branch and can buy the policy sitting in the comfort of your home.

Canara HSBC Life Insurance provides a comprehensive health insurance plan named Health First. It is a fixed benefit plan that provides a lump-sum amount on the occurrence of heart or cancer-related conditions, besides 26 other major critical illnesses. It is a flexible plan that gives you the freedom to choose the cover you need along with various options to customize the plan according to your requirements.

Diseases can strike without any warnings. Having a health plan protects you from unforeseen financial hardships and helps you lead a stress-free life. A health plan also ensures that you receive quality treatment in case you are diagnosed with a serious illness. A health plan creates a buffer around your savings, which remains unscathed even in cases of substantial treatment costs.

There are no uniform rules to select an insurance policy as the needs and medical history of people vary. However, Health First plan from Canara HSBC Life Insurance offers comprehensive coverage, which could be adequate to take care of all your health insurance needs.

The health insurance premium depends on a variety of factors such as age, geographical location, lifestyle habits and occupation. The best way to calculate health insurance premiums is to use a good online premium calculator which is easily available.

With the change in lifestyles, the incidence of diseases has increased drastically. Health insurance is necessary to cover against lifestyle diseases, which are on the rise due to poor nutrition, lack of physical activity and pollution.

A health insurance policy ensures that you and your loved ones do not have to think about the finances while opting for treatment. In the event of hospitalisation, a knowledge of the claim process saves the policyholder from undue hassles. A hospitalisation can generate reams of bills and documents. The claim process of fixed-benefit health insurance is very simple as the payout does not depend on the cost of treatment. In case a critical illness is diagnosed you just have to intimate the insurance company. The insured just has to fill a claims form and attach the doctor’s report on the illness. One doesn’t need detailed bills and prescriptions to claim the sum assured. The entire process is very simple and hassle-free.

Health insurance premiums can help you in reducing tax outgo, as it is eligible for tax deduction under Section 80D of the Indian Income Tax Act, 1961. If you choose a health insurance plan for parents aged 60 years and above, you can claim Rs. 50,000 as a tax deduction. Senior citizens up to 60 years can also claim up to Rs 25,000 as a deduction for the health insurance premiums paid for themselves, or for their spouse or children. This deduction will be available with respect to payments towards annual premium on a health insurance policy, or preventive health check-up of a senior citizen. It is also available for any other medical expenses related to senior citizens. In such a case, if you are paying the health insurance premiums for your senior citizen parents, the total deduction you can avail is Rs. 75,000 per year.

There are no fixed guidelines for choosing adequate health insurance cover, but the cover should depend on factors such as income, family history of diseases and geographical location. Considering the high cost of medical care in metro cities, one should have a minimum cover of Rs 10 lakhs. The cost of hospitalisation and associated costs are higher in large cities. Smaller cities have lower cost of living and a cover of Rs 4-5 lakhs would suffice.

Health insurance plans do not cover all the diseases and certain conditions are excluded from the cover. Some of the common exclusions are:

  • 1.Pre-existing medical conditions
  • 2.Alternative therapies
  • 3.Cosmetic treatments
  • 4.Pregnancy and child birth
  • 5.Diagnostic expenses
  • 6.Dental
  • 7.Injuries caused due to a suicide attempt
  • 8.Waiting period clause
  • 9.Permanent exclusions: Injuries due to war, HIV, intentional injuries, congenital diseases, and others are permanent exclusions

Diseases can strike without any warnings. Having a health plan protects you from unforeseen financial hardships and helps you lead a stress-free life. A health plan also ensures that you receive quality treatment in case you are diagnosed with a serious illness. A health plan creates a buffer around your savings, which remains unscathed even in cases of substantial treatment costs.

Employer waiting period: Waiting period is the length of time that an employer will make a new hire wait before the employee is eligible for coverage access under the company's health

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