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 kinds of 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.
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.Rcommended Read