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This Small Mistake Will Bankrupt Your Family2
Health Insurance

This Small Mistake Will Bankrupt Your Family

Mahesh’s body gave many clues over the years. At first, there was a lack of washroom visits even though he was drinking more than enough water. This was followed by swelling in the legs and unexplained fatigue over the next 2 – 3 years. Then came high BP and weight loss. This was when his wife forced him to visit the doctor.

Chronic kidney failure was the diagnosis. The 39-year-old Mahesh was the only breadwinner of his family and he was taken completely by surprise that small symptoms like the ones he had been experiencing were hiding such a major illness.

The doctor informed him that his case was serious and he would have to stay at the hospital for treatment and then keep visiting regularly for tests and procedures. In a month, Mahesh’s medical expenses crossed Rs 3 lakhs. Within three months, they had spent Rs 8 lakhs. All their savings were gone. Their relatives told them sadly that they could not lend any more financial help.

Mahesh’s wife, daughter, and old parents were dependent on him. Overnight, their lifestyles went from comfortable to tense. In three months, with Mahesh constantly in the hospital and unable to earn a living, they were packing to move from their Mumbai homes to go live in Chennai with Mahesh’s parents.

All this because Mahesh did not buy a health plan, which would have cost him close to Rs 8,000 a year.

Medical expenses are one of the biggest causes of bankruptcy in India. Most Indians do not have health insurance and are forced to borrow money from their friends, relatives, and money-lenders in such medical emergencies, thereby facing the pressure of returning the money.

How Will Health Insurance Help?

A health plan works as financial support at the time of medical emergencies. This is a type of insurance that covers medical and surgical expenses of an insured individual. In Mahesh’s case, if he had health insurance, most of his medical costs would have been covered without him having to spend a single Rupee.

What Benefits Will a Health Insurance Policy Provide?

Let’s run through the most important benefits provided by a health insurance policy:

  • Health plans cover large hospitalization costs in case of planned treatments, surgeries, and even emergencies (road accidents, for example) in return for relatively affordable premiums. If you visit a network hospital, the treatment can even be cashless.
  • A health plan protects you and your family from the financial burden of expensive treatments.
  • Family-floater plans allow you to cover the entire family under a single health plan for marginally higher premiums.
  • High-quality treatments with no compromises.
  • Tax benefits up to ₹ 20,280 under Section 80(D).
  • Under Section 80(D), tax-deductions can be claimed up to ₹ 65,000.
  • Having a health plan ensures you are not fooled at hospitals with extra charges and unnecessary procedures.

(Suggested Reading: What’s and How’s of Health Insurance)


Do not let your family go bankrupt and be forced to beg from relatives because of a health emergency. Health insurance prices may be a little high, but they play a crucial role and help you save tax too.

With the help of this health insurance premium calculator, you can calculate your policy premiums.

In case of queries, write to us at or call at 86-559-86-559.

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