Author: Suddhadeb Chakraborti
Source: ezinearticles.com

Medical expenses are going up day by day. It is not possible for a common man to meet such expenses with his sole salary. So the importance of medical insurance becomes greater. In case ofthis insurance, the insurance company pays the medical expenses of the person against a premium paid. There are several types ofmedical insurance policies present in the market. There is cashless policy. In this case, the insurance company makes the payment directly to the hospital. In case of a non cashless policy the payments are done to the hospital by the policy holder in the first case and then the insurance company pays back the policy holder. Someinsurance companies also pay for daily visits to the doctors. Critical illnesses can also be covered under a policy. A person is eligible to take an insurance cover for his entire family.

In case of taking this policy, a person’s age, income etc are taken into consideration. The rate of premium is inversely proportional to the age of the applicant. A person is eligible to take a policy jointly with his spouse. Several leading companies offer medical insurance. In some cases employers also cover their employees withthis insurance. The government is also taking steps to cover poor citizens under this insurance scheme.

In India if a person pays an insurance premium towards thethis insurance of his parents then he is entitled to income tax benefits.

Life is uncertain. To increase life expectancy,this insurance is important. One must go for such insurance to safeguard life against any unwanted events. Thus insure yourself and live a happy and longer life.

Suddhadeb Chakraborti.