What is health insurance?
As the name suggests, health insurance means insurance for protection of health against various types of diseases. It covers the whole or a part of the risk of a person incurring medical expenses.

Importance of Health Insurance
• For a small amount of premium, the insured person gets coverage for huge costs involved in hospitalization for serious diseases.
• In case of immediate hospitalization, the insured and his/her family is saved from huge expenditure.
• The premium paid for the health insurance is allowed as a deduction from taxable income under the Income-tax Act.

What is health insurance premium?
To get a Health Insurance, an amount of money is to be paid to the insurance company by the policy holder. The premium is an important aspect. In case of failure in payment of the premium the policy will be considered as invalid. Premium can be paid annually, half yearly, or monthly.