The competition amongst these corporate has resulted in a win-win situation for the lay man, with incentives ranging from 24 hours ambulance services, to easy renewal of policies, being offered. Apart from Individual Health Insurance Plan, many family based schemes are also available wherein the whole family is covered. In many firms, Individual Health Insurance Plan includes cashless treatment, which is indeed a popular value added service. Other popular features that have come in as value added services in Individual Health Insurance Plan include discounts on treatment of family members. There are also now available health cards or online cards which work just like a normal debit card and come in handy when one is at a hospital.
Many Health Insurance Plans include regular health checkups to ensure if any amendments have to be made in the consumers Health Insurance Plans, if the case arises to be so. This is because even today many diseases are not covered by the Health Insurance Plans and hence if diagnosed with any such ailment would render the Health Insurance Plans of the consumer, void.
But, what is the most important factor which attracts the young corporate officials to go for Individual Health Insurance Plan is the tax rebates. Income tax benefit under section 80D of the IT Act with the Individual Health Plan is definitely a great incentive.
Overall the benefits are definitely amazing but what needs to be kept in mind is that these Health Insurance Plans are not charitable trusts!!