6 Lakh Health Insurance

6 Lakh Health Insurance: Your Optimum Health Coverage

The modern universe increases the cost of the things we purchase every day. Medical or healthcare costs rise because of the mixture of several factors, such as chronic diseases, an ageing population, advancements in medical technology, and increasing medical drug costs. To compensate for the medical costs which have the increasing demand, it is better to choose health insurance. One can select health insurance for 6 lakh, 7 lakh, 8 lakh, etc., depending upon their requirements and other criteria. 

What is a 6 lakh health insurance policy?

A 6 Lakh health insurance policy is a health insurance policy that provides coverage up to ₹6,00,000 (6 Lakh) of your incurred healthcare or medical expenses in a given policy year. This 6 lakh insurance refers to the maximum amount the insurer will have to pay out for your healthcare costs, as mentioned in the policy terms. A 6 lakh health insurance plan offers coverage for hospitalisation expenses, day care procedures, pre- and post-hospitalisation costs, etc.   

Need for a 6 lakh health insurance policy

A 6 lakh health insurance plan is needed in India to meet the rising medical costs and ensure access to quality healthcare, particularly for individuals in metro cities or those with pre-existing conditions. Also, it offers access to a different network of hospitals with cashless facilities. Though it might be enough for some, others might require extra coverage to account for potential long-term treatments or expensive procedures. The specific coverage information, like what is included and excluded, will depend upon the policy and the insurer.   

Benefits of a 6 Lakh Health Insurance Plan

There are several benefits of buying a 6 lakh health insurance plan. Here are the benefits of a 6 lakh health insurance plan.

1. Financial Security: The basic benefit is financial coverage for medical expenses, like hospitalisation costs (doctor's fees, room rent, etc.), diagnostic tests, and other associated expenses.
2. Pre- and Post-Hospitalisation Expenses: 6 Lakh Health insurance coverage typically extends to expenses incurred before and after hospitalisation, like medications, doctor visits, and follow-up care.
3. Cashless Hospitalisation: Several plans provide cashless hospitalisation at network hospitals, which means that you don't need to pay upfront for treatment, as the insurer will settle the medical bill directly.
4. Tax Benefits: Health insurance premiums paid are eligible for tax deductions under Section 80D of the Income Tax Act.
5.  Ambulance Charges: A few policies offer coverage for the ambulance expenses for transportation to and from the hospital.  
6.  Day care Procedures: Several plans offer coverage for the day care treatments, in which hospitalisation is less than 24 hours.
7. Maternity Benefits: A few policies provide coverage for maternity-related expenses, like prenatal and postnatal care.
8. Pre-existing Diseases: This health insurance plan offers coverage for pre-existing conditions, which is typically available after a waiting period, which can differ.
9. Annual Health Check-ups: A few policies include free or discounted health check-ups.
10. No-Claim Bonus: If you don't make a claim in a policy year, you may get a bonus, like a discount on your premium or increased coverage.  

How to Choose 6 Lakh Health Insurance?

There are many things to be considered to choose the best 6 lakh health insurance. Here are the factors to consider when choosing the best 6 lakh health insurance:

1. Age: Younger people generally require less coverage than older individuals because of higher potential medical expenses with age.
2. Medical History: Consider any pre-existing conditions and family history of illnesses, as these can affect coverage requirements and premiums.   
3. Lifestyle: Factors such as the smoking habits or risky professions can affect the needed coverage and premium costs.
4.  Location: Healthcare costs differ by city, so check the location of your residence when selecting the sum insured.
5. Adequate Coverage: Make sure that the 6 lakh sum insured is enough to provide coverage for the medical expenses, like hospitalisation, pre- and post-hospitalisation costs, and critical illnesses.
6. Consider Future Requirements: Factor in potential future medical inflation and the possibility of needing more extensive treatment.
7. Hospitalisation: Verify the policy covers both inpatient and outpatient treatments.
8. Pre-existing Conditions: Check the waiting period for pre-existing illness coverage and ensure it aligns with your medical needs.
9. Critical Illness: Check if the policy includes health insurance coverage for specific critical illnesses, if required.
10. Maternity Advantages: If relevant, see for maternity coverage, like pre- and post-natal care.
11. Other Benefits: Check for the other benefits, such as the ambulance cover, no-claim bonus, and annual health check-ups.
12. Network Hospitals: Make sure that the health insurance company has enough hospitals in your region; thus, it permits cashless treatment.
13. Premiums and Deductibles: Make a comparison of the premiums across different plans and consider the deductibles (the amount you pay before the insurance starts). Make sure that the premium is reasonable for the health insurance coverage and advantages offered.
14. Policy Terms and Conditions: Carefully read the policy document, like the exclusions, waiting periods, and claim settlement procedures. Understand the exclusions clearly to identify any specific conditions or treatments not covered by the health insurance policy.
15.  Company Reputation: Select a reputable and reliable health insurance company that has a good track record.

Inclusions in 6 Lakh Health Insurance 

There are many things that are included in the 6 lakh health insurance. Let's see what is included in 6 lakh health insurance in general:

1. Hospitalisation Expenses: This offers coverage for the costs related to the inpatient care, like doctor's fees, nursing fees, room charges, and medicine costs.
2. Pre- and Post-Hospitalisation Expenses: Several policies provide coverage for the medical expenses incurred before and after a hospital stay, like the diagnostic tests, consultation fees, and medication.
3. Day Care Procedures: A few plans cover day care treatments that do not need a full 24-hour hospital stay, such as dialysis, chemotherapy, and cataract surgery.
4. Ambulance Charges: Some plans offer coverage for ambulance services for the transportation of the insured to a hospital.
5. AYUSH Treatment: Expenses for treatments below the Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy systems of medicine might be covered.
6. Cumulative Bonus: A few plans provide a bonus for each claim-free year, raising the sum insured.
7. Health Check-ups: A few plans offer health insurance coverage for annual health check-ups post some number of claim-free years.
8. Newborn Baby Coverage: A few plans provide coverage for a newborn baby, either from birth or post a waiting period.  
9. No Claim Bonus: A few plans provide a bonus for each claim-free year, raising the sum insured.
10. Optional Coverages: A few policies might provide optional coverages such as cataract treatment enhancements, maternity benefits, and a discount for selecting a voluntary co-pay.
11. Specific Disease Coverage: A few plans may offer coverage for the specific diseases after a waiting period.
12. Organ Donor Expenses: It might offer coverage for medical expenses associated with the organ transplantation. 
13. Room Rent Capping: A few policies have a limit on the room type you can stay in during hospitalisation.

Exclusions in 6 Lakh Health Insurance

There are many things that are not included in the 6 Lakh Health Insurance. Let's see what is excluded in 6 Lakh Health Insurance in general:
 

1. Pre-existing Conditions: Pre-existing conditions are the illnesses or conditions that you had before buying the health insurance policy; they are mostly excluded for some period (e.g., 2-4 years).
2. Waiting Periods: Many health insurance plans have a waiting period for specific illnesses or treatments, like 30 days for general ailments or 2-4 years for pre-existing conditions.
3. Cosmetic Procedures: Surgeries or treatments to improve the appearance are usually not covered.
4. Self-Inflicted Injuries: Injuries that result from suicide attempts or self-harm are generally excluded.
5. Substance Abuse: Treatment for conditions associated with alcohol or drug abuse is generally excluded.
6. Dental and Vision: Regular dental work or vision correction procedures are in general not covered unless they result from an accident.
7. Maternity & Newborn Care: Pregnancy-associated expenses and newborn care are generally excluded.
8. Alternative Treatments: A few policies might not include treatments such as homoeopathy, naturopathy, or acupuncture.
9. Congenital Conditions: Conditions present during birth might not be included.
10. War or Terrorism: Injuries or illnesses that result from war or related events might be excluded.
11. Certain Diseases: A few plans might not include specific diseases such as sexually transmitted infections, HIV/AIDS, or mental illnesses.  

How to apply for 6 Lakh health insurance?

To apply for a 6 Lakh health insurance plan, you must select a health insurance plan, fill out an application, and give necessary documentation such as identity  proof and medical history. You can apply online it through the insurer's official website or offline by visiting an agent.

1. Search and Select a Plan

• Compare plans of different insurance providers, consider factors such as the premium costs, coverage amount (6 lakhs in your case), and network hospitals.
• Carefully understand the policy documents, like inclusions, exclusions, waiting periods, and any co-payment clauses.
• Consider your individual or family's health requirements and select a plan that best suits those needs.  
   

2. Collect the required documents

• You need to gather the necessary documents.
• Proof of Identity like Aadhaar card, passport, voter ID, or PAN card.
• Proof of Address such as an Aadhaar card, passport, or utility bill.
• Medical History that helps disclose any pre-existing conditions to make sure accurate coverage.
   

3. Apply Online or Offline

• If you apply online, you can visit the insurer's website online, choose the desired plan, and fill out the online application form.
• If your apply offline, then contact a local agent or visit the insurer's branch for applying in person.
   

4. Pay the Premium

Once your application is approved, you must pay the premium amount to activate the health insurance policy.

5. Get Policy Documents

After the payment is successful, you must get your health insurance policy documents, which you need to keep safe.

Documents needed to buy 6 Lakh Health Insurance

Here are the different documents needed to buy 6 Lakh health insurance policy in India.

1. Age Proof: The documents that are acceptable for age proof which you can give are a Birth certificate, 10th or 12th mark sheet, Passport, Aadhaar card,  Voter's ID, Driving license, and PAN card.
2. Address Proof: You can submit the documents Aadhaar card, Telephone bill, Electricity bill, Passport, Ration card, Driving license, and Voter's ID as address proof.
3. Identity Proof: The documents that can be given as identity proof are Aadhaar card,  PAN Card, Voter ID, Passport, and Driving license.
4. Passport-size Photographs: Some health insurance companies request for passport-size photos of all the policy applicants during the purchase time. 
5. Medical Reports: Some insurers may require you to undergo particular medical tests before you issue a policy. You need to submit the reports of these medical tests to get your health insurance policy issued.