Types Of Health Insuarance
Health Insurance Options in India
A rise in interest in health insurance plans is due to the market offers of variety of health insurance policies that help you with a painless healthcare journey.
These insurance policies not only help you obtain the greatest medical care for your conditions, but they also relieve you of any financial worry. And so choosing the proper insurance plan might be a little challenging. To make it easier for you to choose the appropriate policy, we have listed the 11 different types of plans and detailed each key component in detail.
| Types of Health Insurance Schemes | Eligibility |
|---|---|
| Individual Health Insurance | Individual |
| Family Health Insurance | Entire Family- Self, Spouse, Children, and Parents |
| Critical Illness Insurance | used to pay for pricey procedures |
| Qualification | Pursuing graduate/postgraduate degree or a PG diploma. |
| Senior Citizen Health Insurance | citizens 65 years of age and older |
| Top Up Health Insurance | When the present policy's maximum amount covered is reached, this insurance plan is advantageous. |
| Hospital Daily Cash | Daily medical costs |
| Personal Accident Insurance | It can be applied in the event of any owner or driver loss or damage. |
| Mediclaim | In-patient costs |
| Group Health Insurance | For a team of workers |
| Disease-Specific (M-Care, Corona Kavach, etc.) | suitable for individuals who have pandemic-related illnesses or are at risk for developing one. |
| ULIPs | The combined advantages of insurance and investing |
Different Health Insurance Options in India
Personalized Health Insurance
An individual can either use it for himself/ use a tap on based on his/her requirement. They can reimburse based on the illness-related medical expenditures.
The age and medical history of the customer are taken into account while determining the plan's premium. Additionally, the insured person can extend coverage under the same plan to include his or her spouse, children, and parents by paying an additional premium. There is, however, a 2- to 3-year waiting time before you can start receiving benefits if you purchase insurance.
Health Insurance for Family
Family Health Insurance Policy, sometimes referred to as the Family Floater Plan, provides coverage for every member of your family under one roof. All of the members of your family, including your spouse, children, and seniors, are covered by family health insurance policies. One premium covers the entire family, which means that only one family member needs to pay it.
If two family members are receiving care at the same time, you may submit claims for both of them up to the insurance's maximum. However, the senior citizens are subject to a percentage of recovery amount as they fall close to no income category.
Protection from serious illness
The Critical Illness Insurance plan offers a lump sum of cash as insurance against life-threatening illnesses. The pre-selected health issues are covered when you purchase the insurance, and if you experience any of the symptoms, you may file a claim.
This kind of insurance coverage does not require hospitalisation in order to submit a claim. You can only take use of the benefits of critical illness insurance after receiving a sickness diagnosis. The payment amount is predetermined and is unaffected by pre- and post-hospitalization costs. The critical illnesses that are all covered by critical illness insurance are listed below.
- Major organ transplant
- Cancer
- Aorta graft surgery
- Kidney failure
- Stroke
- Multiple sclerosis
- Paralysis
- First heart attack
- Coronary artery bypass surgery
- Primary pulmonary arterial hypertension
Older adult health insurence
These kinds of health insurance in India offer protection to those 65 years of age and above, as the name already suggests. Therefore, if you're looking to get insurance for your parents or grandparents, this is the finest option.
Whether it results from a medical condition or an accident, the Senior Citizen Health Insurance will provide you with coverage for the expense of hospitalisation and medications. It also includes post- treatment fees and hospitalisation charges. Additional benefits including psychiatric benefits and domiciliary hospitalisation are also provided.
The maximum age has been set at 70 years old. A full physical examination may also be required before the insurer sells Senior Citizen Health
Insurance. Additionally, because older folks are more likely to get sick, the premium for this plan is somewhat higher
So these were the description of some of the types of crucial health insurance.
In conclusion
People must now get health insurance policies for both themselves and their families due to the ever growing expense of medical care. In India, comprehensive health insurance plans are available too.