HEALTH INSURANCE

Health Insurance is an insurance policy that ensures that you get cashless treatment or expense reimbursement, in case of Hospitalization of Insured person(s). A health insurance policy reimburses the insured for medical and surgical expenses arising from an illness or injury that leads to hospitalization. The insurance company provides the insured with the facility of cashless hospitalization at a network hospital or provides a reimbursement for the incurred expenses. Furthermore, health insurance cost is subsidized to the insured in the form of tax exemption under section 80D.
Everyone needs to secure their own and their family's health. With the increasing cost of healthcare in India, buying a health insurance policy has become almost mandatory for everyone. Medical insurance makes sure not only medical security but also a hassle-free claim resolution. In today’s world of options, people have different choices when it comes to purchasing health insurance. There are various plans readily available in India to include every aspect of a medical emergency. Some popular types of Health Insurance Policies are explained below:

Individual Health Plan

This health insurance policy provides coverage to an individual against certain illnesses, offering advantages like cashless hospitalization and various add-ons. The entire sum assured is available for only one individual and the premium is determined by the age of the insured. Under this policy, each insured member is entitled to receive the entire amount separately.

Family Health Plan

With family health plan, you can include all your family members against multiple diseases under a single cover. This Family Floater Mediclaim Policy offers a fixed sum assured for the family members, which can be availed either by one or all members of his/her family for one or more claims during the tenure of the policy. Family health plans come at a marginally incremental expense.

Senior Citizen Health Plan

Senior Citizen health insurance is designed particularly for anyone with age above 60 years, offering protection from health issues during old age. According to IRDAI, every firm must include people up to the age of 65 years.

Surgery & Critical Illness Plan

This plan is usually brought as a standalone policy or a rider for the treatment of various critical illnesses, such as kidney failure, paralysis, cancer, heart attack etc. As the medication of such illnesses is expensive, the imbursement is also very high. A critical illness is a serious, possibly terminal disease, strictly defined by the provider. Most critical illness policies provide a lump-sum benefit if the insured is diagnosed with one or a number of the specified terminal conditions.

Maternity Cover Plan

Maternity Cover includes both pre and post-natal care, child delivery (normal or caesarean), which sometimes includes vaccination of newborn babies. This insurance covers the newborn baby up to the validity of this policy. It also covers transportation fee for ferrying the mom-to-be to the nearest network hospital of choice.

Personal Accident Cover

These personal accident plans are frequently provided as riders to standard health plans. They include hospitalization and bear medical outlay, in the event of an accident. These are issued as fixed benefit policies, where specified sums are paid on occurrence of unforeseen events, such as accidents. Such events that can result in death or disability of the person. However, the payout is not related to the expenditure. Preventive Healthcare

Preventive Healthcare

Undoubtedly, healthcare is very expensive and nobody wants to fall ill; anyway. So, now we have preventive health care that takes care of you before you fall sick. This policy considers preventive care, such as regular health check-ups, concession in X-ray fees, consultation fee etc. By offering various healthcare provisions, this plan aims at keeping you healthy. Preventive care is medical care rendered not for a specific complaint but focuses on prevention and early-detection of ailments.

Corona Virus Cover Plan

Corona virus health insurance policy covers the medical expenses incurred on the treatment of COVID-19. A health insurance policy is designed to cover hospitalization expenses of the insured person, irrespective of the disease that he has been diagnosed with (unless it is a critical illness that is not covered). Almost all the health insurance plans cover hospitalization expenses incurred on the treatment of viral infections. Since Corona virus is a viral infection, a comprehensive health insurance policy pays off hospitalization expenses including in-patient and out-patient expenses, incurred on the treatment of COVID-19. The Corona virus health insurance cover will be available from the day the insured gets diagnosed with the disease. This is because COVID-19 is a new disease and therefore, does not come under the category of pre-existing illness.

Important Note: - The contents available on this site is for General awareness/Knowledge only. The actual canvases depend upon the cover opted for and subject to terms and condition of the policy issued by respective Insurance Companies.