7 Types Of Health Insurance You Can Choose From
Nothing can be more heartbreaking than the loss of a loved one, and it is even more difficult to bear when things could have been different if it weren’t for the lack of financial resources.
In India, having health insurance can be the most beneficial protection against the rising expense of medical care. Do some research first since different insurance products can satisfy your needs. Wondering which is the best health insurance for your situation?*
Here are Seven Varieties of Health Insurance in India:
- Individual Health Insurance Plan
Individual health insurance protects your spouse, children, and parents. This insurance covers hospitalisation, surgery, room rental, nursery, and other medical expenses. This plan is available to individuals between 18 and 70.*
- Family Health Insurance Floater
Family Floater Health Insurance may be a good option if you want affordable health insurance for your entire family. These plans have a single sum insured and cost far less than Individual Health Insurance policies. They cover your spouse, children, and parents.
- Group Medical Insurance
Group Health Insurance Plan covers not only a group of coworkers but also families. Thus, if you run a startup or large company, invest in these plans for your staff. It can also act as an incentive to retain employees. A Group Health Insurance Plan covers hospitalisation for accidents, illnesses, psychiatric illnesses, or pregnancy.*
- Health Insurance for Senior Citizens
The Senior Citizen Health Insurance Plan is for seniors over 60.
Pre-hospitalisation, post-hospitalisation, and prescription costs may be covered under a Senior Citizen Policy. These benefits include psychiatric and domiciliary hospitalisation.
Some insurers may need a comprehensive health check-up before providing Senior Citizens with Health Insurance. The maximum admission age for this health insurance is now 70, with lifelong renewal.
- Pregnancy-Related Health Insurance
Maternity coverage can be available as an add-on to the standard health insurance plan. All costs incurred during the antenatal, delivery, and postnatal phases may be covered.
This policy should be bought by newlyweds and families planning to have children soon. This medical coverage also accounts for Childbirth, infertility, and 90-day newborn coverage.
- Critical Illness Insurance
The incidence of lifestyle-related diseases is increasing. Considering this, insurance companies have developed the Critical Illness Policy.
Treating these disorders can be high-priced. The Critical Illness Plan pays a predetermined amount independent of treatment costs if you are diagnosed with a critical illness.
If your family has specific diseases, this policy may be wise. Besides the set payment, a Critical Illness Policy covers medical and hospital costs. Enjoy complimentary health checks.
- Supplemental Health Insurance
You can purchase a top-up policy if you require additional medical coverage. However, such programmes include a “Deductible Clause.” In the event of a claim, payment can be made over and above the limit specified in the policy.
You can purchase this plan if you desire a broader scope of medical coverage than your fundamental health insurance policy provides. Health insurance providers have increased, as has the demand for their services. Research well and make an informed decision.
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*Standard T&C Apply.
Insurance is the subject matter of solicitation.’ For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.