What is Health Insurance - An Overview

Health insurance is a financial safety net designed to cover medical expenses incurred due to illnesses, injuries, or hospitalization. It is a contract between an individual and an insurance company where the insurer agrees to pay for medical costs either fully or partially in exchange for a premium. Health insurance helps ease the burden of costly medical treatments and provides access to quality healthcare without worrying about the financial strain.

Fastzeal simplifies the process of choosing and buying health insurance by offering a digital platform that allows users to compare policies from various insurers, ensuring they find the most suitable coverage tailored to their health needs and budget.

Types of Health Insurance Policies

Fastzeal offers a variety of health insurance products to suit different needs:

 1 . Individual Health Insurance

Provides coverage for medical expenses for a single individual.

2. Family Floater Health Insurance

Covers the entire family under a single policy sum insured, offering cost-effective protection.

3. Senior Citizen Health Insurance

Specialized policies for individuals above 60 years, addressing age-specific health issues.

4. Critical Illness Insurance

Pays a lump sum on diagnosis of major illnesses like cancer, heart attack, stroke, etc.

5. Maternity Insurance

Covers maternity-related expenses, including prenatal and postnatal care.

6. Personal Accident Insurance

Provides compensation in case of accidental death or disability.

7. Top-Up and Super Top-Up Plans

Additional coverage that activates after the base policy’s sum insured is exhausted.

What are the Benefits of Health Insurance?

Health insurance offers numerous advantages beyond just covering hospital bills. It serves as a critical component of personal financial planning by protecting you against unexpected health-related expenses. Key benefits include:

• Financial Protection: Covers hospitalization costs, doctor consultations, diagnostic tests, surgeries, and medication, reducing out-of-pocket expenses.

• Cashless Treatment: Access to cashless facilities at network hospitals where the insurer settles the bills directly.

• Coverage for Pre-existing Diseases: Many policies cover pre-existing health conditions after a waiting period.

• Tax Benefits: Premiums paid for health insurance qualify for tax deductions under Section 80D of the Income Tax Act.

• Daily Allowance: Some plans provide daily hospital cash benefits during inpatient treatment.

• Maternity and Newborn Cover: Many plans offer coverage for childbirth expenses and newborn baby care.

• Preventive Healthcare: Coverage often includes annual health check-ups and wellness benefits.

• Wide Network of Hospitals: Access to a broad network of hospitals for treatment.
  
  
  

Eligibility Criteria for Health Insurance

To purchase a health insurance policy through Fastzeal, applicants must meet certain criteria to ensure they qualify for the coverage:

• The applicant should be a resident of India.

• Minimum age requirement usually starts at 18 years, with some insurers offering coverage from 91 days for infants.

• Maximum age limits vary but can go up to 65 or 70 years for new entrants.

• The applicant must provide accurate medical history and disclose any pre-existing conditions.

• Applicants may need to undergo a medical check-up based on age and policy type.
  
  

Adhering to these criteria helps the insurer assess risk and offer appropriate premiums.

Documents Required for Health Insurance

To apply for or renew a health insurance policy, you need to submit several documents. These are necessary for verifying identity, health status, and facilitating claim processes.

• Identity Proof: Aadhaar Card, PAN Card, Passport, Voter ID.

• Address Proof: Utility bills, Aadhaar Card, Passport.

• Age Proof: Birth certificate, school leaving certificate, or passport.

• Medical Reports: Especially for pre-existing diseases or health screenings if required.

• Previous Insurance Policy: For renewals and continuity of benefits.

• Policy Application Form: Duly filled and signed.

• Photograph: Recent passport-sized photo.
  
  

Having these documents ready ensures a smooth and speedy application process.

How to Get Health Insurance through Fastzeal?

Fastzeal provides an easy-to-use digital platform to help you buy health insurance without hassle. The step-by-step process is:

1. Visit Fastzeal Website: Open Fastzeal’s official portal on your device.

2. Enter Basic Details: Provide age, location, family size, and health information.

3. Compare Health Plans: View side-by-side comparisons of various insurers, premiums, and coverage.

4. Select Suitable Plan: Choose a policy that meets your health needs and budget.

5. Fill Application Form: Complete the form with personal and medical details.

6. Upload Required Documents: Submit identity proof, medical reports, and other documents.

7. Make Payment: Pay the premium securely via net banking, UPI, debit/credit card, or other online modes.

8. Receive Policy Documents: Instant issuance of policy documents via email and Fastzeal account.

This digital process is designed for convenience, saving time, and ensuring quick policy activation.

Key Features of Health Insurance

Health insurance plans available through Fastzeal come packed with features that enhance the value and utility of your coverage. These include:

• Cashless Hospitalisation: Treatment at network hospitals with direct payment by the insurer.
  
  

• Coverage of Pre- and Post-Hospitalisation: Medical expenses before and after hospital stay are covered for a specified period.
  
  

• Annual Health Check-ups: Complimentary preventive health screenings.
  
  

• No Claim Bonus: Discount or increased sum insured for claim-free years.
  
  

• Maternity and Newborn Benefits: Coverage for delivery and newborn care, often after a waiting period.
  
  

• Critical Illness Cover: Lump-sum benefit on diagnosis of specified critical illnesses.
  
  

• Daycare Procedures: Coverage for surgeries and treatments not requiring 24-hour hospitalisation.
  
  

• Tax Savings: Premiums eligible for tax benefits as per applicable laws.