When people have to think about gifts to buy for their loved ones, they often think about what the person might like. Thinking about all the various items in the person’s ‘wish list’ often confuses people. Chocolates, bouquets of flowers, luxury items, etc. top most people’s gift list. But what is it that you want most for them?
Generally people want the well-being and happiness of their close ones. The best way to gift peace of mind and wellness, is by gifting the person an insurance policy. Health cannot be gifted in any other way apart from a health insurance plan.
Insurance as a gift makes a lot of sense. People often doubt whether their loved ones, parents or children would like such a gift. The fact is that everyone wants to stay healthy, but few have the financial means to do so. A health insurance plan ensures that people can stay healthy, without bothering about any kind of problem that might come up.
Wondering what the use of gifting such a plan is?
The health insurance plan would provide numerous coverage options. There are various kinds of benefits available with each policy. Some of these include:
• Inpatient Coverage: The cost of inpatient treatment is covered by the insurance policy. The aspects of the treatment would cover expenses such as blood, Operation Theater expenses, ICU costs, cost of implants, etc.
• Pre-Hospitalization Expenses - the medical costs incurred 30 days before the hospitalization of the policy holder are covered under this benefit. The number of days can be increased if the insurance company is informed about the hospitalization at least 5 days before hospitalization.
• Post-Hospitalization Expenses - the medical expenses of the policy holder incurred 60 days after discharge from the hospital are covered under this benefit. The number of days can go up if the insurance provider is informed about the hospitalization at least 5 days before hospitalization.
• Day-care Benefits - Policies provide health insurance coverage for treatment that requires less than 24 hours hospitalization.
• Cumulative Bonus - There are mediclaim policies that give the policy holder a benefit if they do not use the policy at all for the whole year. The sum insured for the policy holder(s) increases without the premium rising. The premium would be charged on the base cover amount.
• Emergency ambulance cover - Coverage is also provided in case the insured patient needs to be rushed to the hospital in an ambulance for emergency medical care.
Apart from the benefits applicable for the person you are buying the plan for, there are tax benefits applicable on the premium paid for the policy that is bought. Since you would be paying for the premium of the plan, the tax benefits would be applicable for you.
So, where can you buy this kind of a gift?
There are various ways by which one can buy such plans:
• Through an agent or a broker
• Leaving the details on the website (A sales executive will call back and assist you in buying the policy)
• Buying the policy on the company website
Gifting a health insurance policy is one of the best ideas people can have for showing their love and affection towards their loved ones.