Different types of Health Insurance in India
With the escalating medical costs every day, it’s always a wise decision to opt for a health insurance policy. But before choosing a health plan, one have to know what types of health Insurance plans are there for offering, and what would suit the best. Following are the different types of polices, their pros and cons.
Individual Plan
Best suited for individuals, who are not married and working. These plans include cashless hospitalization and also cover post the hospitalization expenses for a given time frame. This is best recommended to individuals who have just started their professional career, and especially those ones working in metro cities.
Family Floater Plan
This plan can be opted, especially if you are an employee having a family to watch out. The cover offers a fixed sum of insurance and various other facilities like cashless hospitalization, free checkups and various other medical services. Not only this, the Family Floater plan also allows us to include parents and in- laws with little extra cost.
Recommended Read : Individual or Family Floater, Which is best?
Senior Citizen Plan
Once you reach your old age, not only an individual, but an individual’s medical bills also cause a concern in the family. But if one opts for an insurance plan, which can cover expenses arising due to Ambulance Costs to the post hospitalization expense, one can lead a peaceful life. So a Senior Citizen plan not only offers the above said, but the pre – existing diseases are covered owing to some terms and conditions.
Critical Illness Plan
This plan comes as a rescues if an individual is about to suffer from a critical illness, or life threatening ones. The annual health insurance plans cover the hospitalization expense and insure a concrete sum upto few lakhs, falling prey to diseases like Brain Tumor and other could demand more. In such scenarios a Critical Illness plan comes in handy, even though it covers only 6 – 12 diseases.
Preventive Health Care Plan
Free Checkups round the year, and concessions at various diagnostic and medical facilities help the individual to a great extent. One can get a free check from a specialized doctor, and a free second opinion on critical illness. The best part is that, same fee is charged for all ages, which means, people at old age can also opt for this plan.
Corporate / Group Health Insurance Plan
MNC’s and other companies usually offer Insurance from the company’s end to their staff or employee, which usually cover basic medical expenses, and even the spouse and the children of the employee. Employee insurance offers cashless hospitalization to a wider network of hospitals compared to general health insurance policies.
With FCCI stating 65% of India’s Poor get into debt due to medical costs, there is every need for an individual and family to be covered under health insurance. With companies fighting for their survival in the ever growing market of Health Insurance, one can expect more benefits to be passed on to the customers in the near future.
Recommended Read : Myths on Health Insurance
Recommended Read :
- How to Get Health Insurance for The Aged?
- How to Select a Health Insurance Plan?
- Individual vs Family Floater Health Insurance
- Selecting Your Health Insurance Provider
- What Exactly is Lifetime Renewal of Health Insurance?
- Cashless Hospitalisation - Not Always Cashless
- How to Change Health Insurance Provider?
- How to Escalate If Your Health Claims Gets Rejected?
- Portable Health Insurance - Avoid Claim Rejections
- Portable Health Insurance Risks Involved
- Reimbursement vs Cashless
- What is Cashless Hospitalization?
- Types of Health Insurance
- Health Insurance for Women Maternity Coverage
- What is Day Care Hospitalization Health Insurance?
- Common Pre Existing Diseases Health Insurance
- Role of TPA in Health Insurance
- Pre and Post Hospitalization Health Insurance
- Possible Reasons for Health Insurance Claim Rejection
- Quick Health Insurance Policy - Beware
- What is Network Hospital for Health Insurance?
- What is Planned Hospitalisation?
- Emergency Hospitalisation
- Critical Illness Policy
- Preventive Health Care Plan
- Group Health Insurance Plan
- Indemnity Based Health Plans
- What is An OPD Cover Health Insurance?
- Myths On Health Insurance
With the constantly growing rates of medical facilities, health insurance policies make sure that people can avail the medical services conveniently. Keeping in mind the affordability problems faced by people, these policies are designed at reasonable premium rates. Choosing the plan according to the budget, everyone can get insured without any hassle. There are a number of health policies one can choose from, such as individual plan, family floater plan, maternity plan and so one. One can choose from these policies depending upon the requirement and the budget.
There are so many great health insurance policies, and it’s nice to know we can all find one to suit our specific needs. Whether you are on a budget, or have a family or if you have to take care of an ageing relative (or all of the above), there is something tailored to you.
Health insurance have become a necessity rather than optional. It covers the various medical expenses that are at times out of reach for a common man. The article provides a basic knowledge about the various health insurance available in our country. In critical health insurance type how does one know before hand that what critical illness one is about to face? Please do specify.
The rising cost of everyday expenses makes the medical expenses an additional burden to the common man. These insurance comes as a much needed relief to him. The short and to the point article provides an idea to the various types of insurance policy available. Plus their recommended usage at the various stages of life.