Health Insurance

Insurance other than 'Life Insurance' falls under the category of General Insurance. General Insurance comprises of insurance of property against fire, burglary etc, personal insurance such as Accident and Health Insurance, and liability insurance which covers legal liabilities. There are also other covers such as Errors and Omissions insurance for professionals, credit insurance etc.

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Health Insurance

Health insurance covers cost of an insured individual's medical and surgical expenses. Subject to the terms of insurance coverage, either the insured pays costs out-of-pocket and is subsequently reimbursed or the insurance company reimburses costs directly.

1. What is Health Insurance?

Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. It reimburses the expenses incurred due to illness or injury or pays the care provider of the insured individual directly.

2. Why buy a health insurance?

Health insurance will protect you and your family against any financial risks arising due to a medical emergency. Buying a proper health plan would help you in saving your hard-earned savings and other assets.

3. What expenses does health insurance cover?

Health Insurance covers all diagnostic test like MRI, X- ray, blood tests etc as long they are associated with the patients stay in the hospital for at least 24 hours. Any diagnostic tests which do not lead to treatment, or which have been prescribed as Outpatient are generally not covered. OPD and ambulance charges also covered in some plans.

4. Health Insurance can save your taxes.

Premium paid under the health insurance Policy is exempted from Income Tax under section 80D of the Income Tax Act up to Rs.25,000 for individual covering his family and dependent Children. In case the proposer intends to cover his parents below 60 years under medical insurance, he is eligible for a deduction of another Rs.25000 under section 80D. In case the age of parent to be covered is above 60 years, the deduction available is Rs.50000 under section 80D.

5. Can a diabetic buy a health insurance?

Yes. You can take any individual policy with us in which the existing condition of diabetes would be excluded. At the same time, you can cover yourself with a Diabetes Safe policy which covers the complications arising due to Diabetic Retinopathy, Diabetic Nephropathy and Diabetic Foot Ulcer. However, this policy requires a premedical screening even if the proposer is less than 50 yrs. of age.

6. What are the steps required to buy a health insurance cover?

Buying a health insurance policy is a very simple and easy process as shown below. If need be you can schedule a free consultation over phone or a free visit if you are in DELHI NCR

  • Call us at +91 8588834444 or drop a WhatsApp on this number.

  • After a through consultation and if need be, you will fill a form containing details like Name, Mobile Number, Email ID, Gender, City, etc to so that we can suggest top health insurance plans matching your specific requirements.

  • We would provide a list of quotes would be available to you from various insurers.

  • You can then proceed to the proposal forms along with the supporting documents.

  • After completing the proposal form, you need to make the payment which we send you. The premium can be paid through various online modes available like credit or debit card, internet banking, UPI, or wallets if available. You can also choose the frequency of premium payment i.e., annual, half yearly, quarterly or monthly.

  • Post successful payment, the details are submitted to the insurance company for approval. Once confirmed, the policy details will be updated to THE MIND FARMERS portal.
  • Disclaimer : is an online website of Manoj Kumar Sharma who is registered vide ARN - 45095 as a AMFI Registered Distributor. The said website is intends to provide educative and informative details related to investments and also provide online transaction facility in Mutual Funds. We do not charge any fees for these calculators and information, because we earn our commissions from the Mutual Fund companies. The website does not guarantee any returns or financial goal success by any means.