15 Lakh Health Insurance

Your Guide for 15 Lakh Health Insurance 

There are different kinds of health issues in every era. In the modern world, treating health issues has become expensive in many cases. The increase in the cost of many medical treatments may cause financial stress to many individuals. Unexpected health issues or medical emergencies may put an individual under sudden stress. Here comes the need for health insurance, which protects a person from the financial burden during medical emergencies. 15 Lakh Health Insurance is one of the comprehensive coverages that provides several advantages.

Advantages of 15 Lakh Health Insurance Plan

There are many benefits of 15 Lakh Health Insurance Plan. Let's look into the advantages of having 15 lakh health insurance policy. 

1) Could Cover Comprehensive Coverage Medical Expenses
It is a comprehensive plan that could cover you and your family. A 15 lakh health insurance plan could cover various expenses like doctor and specialist fees, medical tests, surgery costs, ambulance charges, inpatient expenses,  hospital room rent and post-hospitalisation expenses. 

2) Family Floater Option
A family floater option available in 15 Lakh Health Insurance Policy offers coverage for the policyholder and their family members. This means that all of them in the family can get coverage from the same comprehensive coverage, without the requirement for multiple policies. This helps the whole family get access to quality healthcare reducing the financial stress in case of any medical emergencies. 

3) Cashless Hospitalisation
Cashless Hospitalisation is an advantage of the 15 lakhs mediclaim policy. The health insurance company of policyholder settles the medical bills, providing a stress-free experience for medical treatment using this feature. This means, with this plan, the policyholders can avail medical treatment at any network hospital without the need to pay out of pocket. 

4) Critical Illness Insurance
Critical illness coverage feature typically offer a coverage for the life-threatening conditions like cancer, stroke,  kidney failure, heart attack, etc. If a policyholder is diagnosed with any critical illness, this plan's coverage could provide a lump amount that can be utilized to cover medical expenses or other related costs. 

5) Tax Benefits
You can avail yourself of health insurance tax advantages below Section 80D of the Income Tax Act, 1961, if you pay the premium amount for a 15 lakh mediclaim policy. Policyholders could save on income tax liability, protecting against unforeseen medical expenses. However, note that tax benefits may differ based on the policyholder's age, the number of family members included in the policy, and many other factors. Get suggestions from a financial advisor to find out the specific tax benefits that are applicable to your situation. 

6) Financial Protection
A 15 Lakh Health Insurance Policy could protect financially during unexpected medical emergencies or health issues. So that you can concentrate on your recovery hassle-free.

Why is a 15 Lakh Health Insurance Policy needed?  

There are many reasons why you need to buy a 15 Lakh Health Insurance in India. Here are some of the reasons among them : 

1) Inflation in Medical Costs
The expense of medical services is increasing rapidly, which may push an individual during an emergency medical situation or in major illnesses. A 15 lakh medical insurance policy could safeguard you by protecting you financially against these high prices, permitting you and your loved ones to get top-notch medical care without worrying about the cost. 
2) Increase in Lifestyle Disorders
Due to the changing lifestyle and stress levels of people, Lifestyle disorders like hypertension, diabetes, and heart conditions are becoming more prevalent. These disorders need expensive medical therapies and ongoing medical attention, which a 15 lakh medical insurance policy could help. With such full coverage, you can protect yourself from the financial burdens of serious medical illnesses. 
3) Peace of Mind
The medical emergencies which occur unexpectedly can put you and your family in a big financial burden. A 15 lakh health insurance coverage could give a financial security in paying for treatment expenses for illness and hospitalisation. This could provide a mental peace.

Inclusions in 15 Lakh Health Insurance Plan

A 15 Lakh Health Insurance policy offers coverage for many medical expenses incurred by the policyholder. In general, the inclusions in the  15 Lakh Health Insurance Plan are: 

• Expenses of inpatient hospitalisation include room rent, nursing, and boarding charges.
• Medical tests and diagnostics. 
• Doctor and specialist consultation fees.
• Pre-hospitalisation expenses. 
• Post-hospitalisation expenses. 
• Daycare treatments that do not need hospitalisation
• Emergency Ambulance Charges
• Organ Donor Expenses
• AYUSH Treatments (Siddha, Ayurveda, Yoga and Naturopathy, Unani, and Homeopathy)

Exclusions in 15 Lakh Health Insurance Plan

However, a 15 Lakh Health Insurance policy may not cover some expenses. These  exclusions are :

• Medical expenses incurred because of self-inflicted injuries, participation in hazardous activities, or suicide attempts. 
• Cost of Cosmetic or aesthetic treatments. 
• Expenses incurred because of drug abuse or alcoholism. 
• Congenital diseases or defects. 
• Expenses for Dental treatments. 
• Alternative therapies like acupuncture or acupressure unless specifically mentioned in the policy. 
• An individual must read the policy documents carefully to clearly understand the inclusions and exclusions of a 15 Lakh Health Insurance Plan.

Aspects Needed to be considered for 15 lakh Health Insurance 

1) 15 lakh Health Insurance Premium Calculator  
Many factors like age, medical history, family history, lifestyle habits, and the selected plan (individual or family floater) type determine the premium for a 15 Lakh Health Plan. Premiums for a 15 Lakh Health Plan are higher than those for plans or policies with lower coverage amounts since they offer extensive coverage. To know Star Health Insurance's 15 lakh Premium, you can see our official website. 

2) Sum Insured Calculation
A maximum of 15 Lakh rupees sum insured is available in a 15 Lakh Health Plan. Carefully analyse your healthcare needs and expenses, when you choose the correct amount of coverage.

How to choose a 15 Lakh Health Insurance Premium? 

There are many factors that determine the 15 Lakh Health Insurance Premium. Here are the factors which determine the 15 Lakh Health Insurance Premium. 

Factors Significance

Age  With the increase in age, premiums increase as the risk of developing health issues increases. 

Medical history One may need to pay a higher premium if they have any pre-existing conditions or an account of medical issues. 

Lifestyle Habits  You may have to pay a higher premium if you have lifestyle habits like smoking and drinking. 

Coverage

The coverage extent you choose also impacts the premium. The higher will be the premium, with the higher the sum insured. 
Policy term  One may get a higher premium due to a longer tenure. 

Deductibles  You have to pay some amount before the insurance begins to work. You may get a lower premium due to the Higher deductibles.