What Is Micro health Insurance And Why Does It Matter?

We all are no stranger to the fact that India is a developing country wherein a considerable part of the population lives in rural areas where there is not much access to dispensaries or clinics. According to a recent statistic, the rural community in India comprises 65.53% of the total population.

They earn their bread by farming or by doing small businesses. The worst thing is the rural family is more prone to illnesses as there is not much awareness. Whenever there is a medical emergency, the family finds it difficult to tackle the disease as they cannot afford medical services and quality healthcare. Especially, in recent times where the world is swarming its way through a pandemic like COVID-19, it is deemed mandatory to have health insurance for family.

Micro health insurance is designed especially for the rural sector of our country. It has intensive planning for individuals living in the rural sector.

Micro Health Insurance: Some Alluring Features

The features of the schemes are the following:

• The sum insured offered under this type of plan is limited as it is a Micro Insurance plan. It usually ranges from Rs 1 lakh to Rs 5 lakh.
• The very premise the Micro Insurance companies work on is to make these kinds of insurance affordable to the poor, so the premiums are extremely low, and they focus on giving quality healthcare services at a low cost.
• The coverage for the schemes given by the Micro Insurance is granted for one year.
• There is an additional option to cover all the members present in the family by taking the entire policy on a family floater basis.
• As the sum for the coverage is low, no pre-entrance health check-ups are needed when someone intends to buy the plan.
• There is an age restriction for up to 65 years.
• The most eye-catching and lucrative benefit of a Micro Insurance is that it comes with lifelong renewal benefits.

Micro Insurance: The Scope of Benefits

Apart from these features mentioned above, the following benefits are offered under micro health insurance plans:

• The micro health insurance also has a provision for coverage of pre-hospitalization expenses.
• Even after buying insurance, there is a documentation process for claiming it. The micro health insurance policy makes sure that one does not have to go through the extra hassle of such a tedious procedure and makes the releasing of post-hospitalization funds easy.
• The micro health plans also have a coverage for the daycare treatments.
• There are some groups of people who cannot afford even the cost of the ambulance. The insurance plans also make sure that the cost of an ambulance is covered via the scheme.
• Majority of the health insurance policies in India Have an incredibly good network of hospitals and clinics to benefit the insurer when there is an emergency.

Conclusion

Micro health Insurance has benefitted many people and proved to be a successful venture in our country. Social awareness against various diseases is created, and people become more and more responsible when it comes to their health as well as their family’s health. There are various NGO (Non- Government Organizations) and semi-public bodies who have extended their help towards this. There are some public health services in our country which provide free basic health care and arrange check-ups for all the people who are underprivileged or below the poverty line.

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