The Types of Health Insurance Available in India

  • Added:
    Sep 06, 2014
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The Types of Health Insurance Available in India Photo by Akash Naidu

A sound health is the best asset a person can have. It’s the person’s medical that determines its ability to lead a happy & successful life. And what contributes towards the strengthening of one’s good health is a valid medical insurance.
Today the medical & treatment costs have gone up very high. Also it’s showing an upward trend in terms of costs. Health insurance helps the insured to stay healthy by covering all his medical & treatment costs.
Here I remind my readers of the several kinds of health insurance plans available in India.
Personal Health Insurance plan
• Personal medical insurance plan is also known as 'Standard Mediclaim Plan’ .This kind of health insurance plan is perhaps the simplest type of health insurance plan in India.
• Personal health insurance plan covers hospitalization expenses at an individual level. The value covered will be up to sum assured value.
• Most medical insurance companies offer this kind of health insurance in India.
• The offerings vary across different health insurance companies of India. This is because each company offers different plans based on the specific sum assured value.
Key things to ensure in a health insurance plan are-
• Check for host of benefits which covers all pre-hospitalization as well as post-hospitalization expenses.
• Check for additional benefits which cover emergency ambulance charges as well as medical check-up expenses.
• Ensure for faster claim settlement process
• Ensure that the insurer provides 24-7 toll-free helpline for assistance anytime & anywhere
Family Floater Plan
• The family floater plan is another type of medical insurance plan available in India.
• This plan provides coverage for entire family. This covers a person, his/her spouse & 2 children.
• One can even avail from a coverage plan which also covers one’s parents in law.
• The key benefit lies in the fact that each member under the policy can get the benefits of sum assured as & when required.
Critical illness policy
This type covers only certain critical illnesses as mentioned in the policy documents.
The striking benefit is that the insured gets a lump sum total amount as specified by the insurance provider when diagnosed with critical illness. This is irrespective of hospital bills.
Health Insurance for senior citizens
This type caters to people above 60 years of age. Therefore, people above 60 years old can get great benefits from this type of insurance.
Key features of Health Insurance for senior citizens are as follows-
• Usually such policies require the insured to pay higher premiums
• medical Insurance for senior citizens offer coverage up to greater renewable age
Conclusion
All the above types of medical insurance provide diverse set of benefits with certain drawbacks. You must select a policy after evaluating your needs as per many factors like budget, age and count of individuals which need to be covered. It’s advisable to take help of a professional to get the best health policy as per your requirements.

Author's Profile

Akash Naidu is a software Tester For more information visit: Health Insurance & Health Insurance Plan


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