What are the Different Types of Health Insurance Plans in India

by kumar rahul Best Insurance Deals

There are various types of health insurance plans available in India today. Let's have a look at them below:

Mediclaim Insurance

Mediclaim insurance has been designed to provide you with the coverage for hospitalization expenses incurred as a result of illness or accidental stay at a hospital. It comprises of in-patient expenses such as surgery expenses, nursing charges, oxygen, anaesthesia, doctor’s fee, etc. Today this type of health insurance plan accessible as individual medical insurance, group mediclaim policy, overseas medical insurance, etc.

Individual Health Insurance

Individual health insurance policy, as the name suggests, is meant for individuals only. Under this type of health insurance policy, you are entitled to receive the incurred amount during a hospitalization. The insured individual can claim up to the basic Sum Insured amount.

Family Floater Plan

This policy is basically meant for the entire family. Under a family floater policy, you can cover your whole family. Here the Sum Insured is equally divided among the members. One of the major benefits of buying a family floater health insurance plan is that the premium that you pay is comparatively lesser than the individual policies when purchased individually for each member.

Unit Linked Health Plans

Unit Linked Health Insurance Plans, usually known as the ULIPs are investment plus insurance plans that come with the twofold benefits of investment as well as insurance. With this plan, a segment of your paid premiums is invested in the stock market by your insurer, and you are offered insurance coverage. However, the returns are offered on the basis of how the market performance.

Group Mediclaim Policy

Group Health Insurance plans are mainly popular among the medium or large-scale businesses that offer health insurance to their employees. This type of health insurance is helpful in terms of retaining the talent within an organization. With a health insurance plan becoming essential, the employers cover their employers against a financial crisis in the event of an unforeseen hospitalization.

Critical Illness Plan

As the name says, this plan has been specially designed for the treatment of specific illnesses. With a bunch of life-threatening critical illness on the rise, it becomes imperative for you to cover yourself against these illnesses. Since treating such a disease could be an expensive affair, specifically for a middle-class family, buying critical insurance health insurance plan can certainly alleviate those expenses up to a considerable extent. On the detection of an illness, the policy will pay a pre-decided amount towards treatment costs, irrespective of pre or post-hospitalization expenses. Some of the major diseases that are covered under most of the critical illness plans include the following:

• First heart attack
• Cancer
• Stroke
• Aorta graft surgery
• Kidney failure
• Major organ transplant
• Multiple sclerosis
• Paralysis
• Primary pulmonary arterial hypertension
• Coronary artery bypass surgery

Hospital Daily Cash

The Hospital Daily Cash coverage is offered by some of the insurance providers as an in-built cover under their health cover.  Under this type of health insurance plan, the insured is paid with a daily cash allowance up to a certain limit, aside from the hospitalization expenses.

Personal Accident Plan

A Personal Accident Plan basically protects the owner/driver against an accidental injury or death. The policy offers a lump sum amount to the insured or their family in the event of death, loss of income owing to permanent partial or total disability.

Depending on your type of health cover of yourself or your family, you can go for any type of the above-mentioned health insurance plans.

Sponsor Ads

• Ad Space Available - Rent it Now!

Created on Jul 1st 2020 00:04. Viewed 363 times.

Comments