In India, Health insurance is must for each one because of sky high price of any medical treatment in India.
If you fall sick and require medical treatment, you will be surprised to see huge bill of treatment. The bill include many items like medicine cost, doctors fee, various tests, x-rays, room charge, dressing charge, food etc.
For 3-4 day hospitalization, you may get the bill of 1-2 lakh rupees easily.
The best way to save money is first of all keep yourself absolutely fit so that you need not to go for hospitalization at all.
Take Medical Health insurance to insure that huge medical bill will not be paid by you but it will be paid by medical insurance companies.
To take Medical Health insurance plan, you need to pay premium once for one year or two year. In This time if you fall sick medical insurance companies will pay the bill maximum upto the sum insured.
Many medical insurance companies’ ties up with some selected hospitals. You just need to admit in that hospital, all bill settlement will be done by insurance companies.
The Premium of Medical Health insurance is high in India, Premium amount increases sharply with age of the person.
Here is the approx. figure
For 30 year, man for 10 lakh rupees Medical Health insurance will cost premiums of around Rs 12,000 per year.
For 60 year, man for 10 lakh rupees Medical Health insurance will cost premium of around Rs 25,000 per year.
Remember that Medical field are now became a big business in India, it is huge money suckers. So you must be careful.