Health Insurance

Health insurance is a form of insurance that pays for the insured's medical expenditures incurred as a result of a sickness or accident in exchange for a premium payment. It permits the insurance company to give medical coverage for hospitalisation costs, day care operations, catastrophic diseases, and so on. A health plan also provides other benefits, such as cashless hospitalisation and free medical check-ups.

Health insurance is a contract between a policyholder and an insurer in which the insurer provides financial coverage to the insured up to the amount insured limit. It provides medical coverage for hospitalisation costs incurred during an emergency or scheduled hospitalisation. It also gives tax breaks on premiums paid to insurance companies under Section 80D of the Income Tax Act of 1961.