Gift your sister a health insurance policy on Rakhi

Rakhshabandhan is just around the corner and if you are scouting for a gift to present to your sister, a health insurance policy may just be the right option. 

Reasons why you should gift a health insurance policy:

- It will take care of hospitalisation expenses including room in case of a medical emergency
- Hospitalisation expenses include various expenses such as cost of lodging, ICU, operation theatre, anesthesia, blood, oxygen, medicines, drugs & consumables, surgical appliances, prosthetics and other devices implanted internally
- Pre and post hospitalisation expenses are also covered under most policies
- Maternity expenses and new born baby cover
- Day care procedures which do not require 24 hour hospitalisation
- Expenses incurred on health check-up after an interval

Depending on the policy you choose, the coverage options will vary. Most health insurance policies cover pre-existing diseases after a certain period of time. It is advisable to take a health cover early on in life as the premium rates are less.

Brothers and sisters share a very special bond. Gifting a health insurance policy for life might just be the right way of showing her that you care. All general insurance companies have a set of health insurance policies. There are 3 exclusive standalone health insurers in India – Apollo Munich Health Insurance, Max Bupa Health Insurance and Star Health Insurance. These insurance companies have a host of products to cater to different needs of a customer.

Some policies cover pregnancy and maternity expenses up to a certain limit while some policies may not have this option. It is advisable that you spend a little time to read the policy coverage and exclusions before buying a policy.

The other good news is that Health Insurance Portability will soon be implemented in India. Once in force, policyholders will have the freedom to switch their health cover to another insurance company. In case in future, you feel that the existing health insurance policy is inadequate, you can move over to another policy without losing out the benefits earned on the previous policy.

Investing in a health plan is a wise option and more people are now choosing this as a gifting solution.