One needs to ensure the security of health of oneself and the family as well. With the increasing cost of healthcare and medical treatments across private hospitals in India, health insurance has become almost mandatory for everyone. Health insurance ensures not only health security but also hassle-free claim reimbursement. In today’s world of advancements, people have different choices even when it comes to buying health insurance. There are various plans readily available in India to cover every aspect of a medical emergency. Some popular types of policies are explained below:
Individual Health Insurance Policies:
This health insurance policy is designed to cover an individual against various illnesses with cashless hospitalization and other add-on features. The entire sum insured is available for only one individual and the premium is determined by the age of individual covered under the policy. It is a policy where each insured member is entitled to the entire amount separately.
Family Floater Health Insurance Policies:
With this health insurance policy, you can cover all your family members against diseases under a single cover. This cover offers a fixed sum insured for the family members that can be availed either by an individual member or as a sum total for treatment of one person. Family floater Mediclaim cover offers a fixed sum insured for the family members that can be availed either by an individual member or as a sum total for treatment of one person. Floater benefit means the sum insured as specified for the proposer under the policy, is available for any or all the members of his/her family for one or more claims during the tenure of the policy. As compared to individual plans, family floater Mediclaim plans come at a marginally incremental premium.
Surgery & Critical Illness Insurance Plans:
This is usually brought as a standalone policy or a rider in case of treatment against serious illnesses like- cancer, kidney failure, heart attack, paralysis etc. As the treatment of such diseases is expensive so the premium is also on a higher side. A critical illness is a serious, possibly terminal disease, strictly defined by the insurer. Most critical illness policies provide for payment of a lump sum benefit if the policyholder is diagnosed, suffering from one of a number of specified terminal conditions.
Pre-Existing Disease Cover:
After a waiting period of 2-4 years, various policies offer a cover against the pre-existing diseases -e.g. - diabetes, hypertension, kidney failure,
Senior Citizen Health Insurance Plans :
This health insurance plan is designed especially for senior citizens, offering protection from health issues during old age. According to IRDA, every insurer must provide cover for people up to the age of 65 years.
Preventive Healthcare:
Undoubtedly health care is expensive and who wants to fall sick; anyways. So, now we have preventive health care that offers to take care of you and not let your fall sick. This includes preventive care treatments like regular checkups, consultation charges and other tests or x-ray fees concessions. The idea is to monitor your health at timely intervals and provide overall health care benefits. Preventive Healthcare is medical care rendered not for a specific complaint but focused on prevention and early-detection of diseases. Some health insurance policies limit coverage for preventive care services, while others encourage such services.
Maternity Health Insurance:
Health insurance companies today provide coverage against maternity and additional expenses, including both pre and post natal care, child delivery (normal or caesarean), which sometimes lead to vaccination of newborn babies. Maternity insurance covers the new-born baby up to the validity of the maternity insurance policy.
Personal Accident Cover:
These personal accident plans are frequently provided as riders to standard health insurance plans, which provide coverage for hospitalization and reimbursement of medical expenses, in the case of an accident. These are issued as fixed benefit policies, where specified sums are paid on occurrence of specified or unforeseen events such
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