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What are the Uses of Health Insurance?

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Health is wealth, and with the increasing cost of medical treatment, it is essential to have health insurance. Health insurance is an agreement between the insurance provider and the policyholder, where the insurance provider pays for the medical expenses of the policyholder in case of illness or injury. In this article, we will discuss the uses, opportunities, and challenges of having health insurance in India. Uses of Health Insurance Financial Security: Health insurance provides financial security to the policyholder in case of a medical emergency. The policyholder doesn't have to worry about the high cost of medical treatment as the insurance provider takes care of it. Cashless Treatment: Most health insurance policies offer cashless treatment, where the policyholder doesn't have to pay for the medical treatment upfront. The insurance provider directly settles the bill with the hospital. Comprehensive Coverage: Health insurance policies offer comprehensive coverage, includi