Health Insurance

Health insurance is a medical policy where the insured is covered for his medical or surgical expenses when he or she falls sick.

Depending on the health insurance type either the individual gets the cashless treatment facility or the money is reimbursed to the insured if he has done the payment to the hospital.

Benefits of Health Insurance

Health insurance has become must for every individual as the medical expenses and hospital costs are exponentially increasing. In that case a good health policy can help you recover medical costs, surgery expense, hospital charges and lab tests cost in case of critical illness.

So here we will explain about different Health Insurance in India which will help you to buy different medical plans or policies.

Types of Health Insurance Plans

  • Accidental Cover: This policy helps cover the medical expense in case of accidents. This includes the hospitalisation charges, emergency treatments and lab tests done after accidental injury. Here a lumpsum amount is given to the insured if he meets with an accident which may lead to a severe injury and results in some disability.The premium is usually less for Accidental Cover.
  • Critical Illness: This plan is helpful in case the insured is diagnosed with some critical illness like cancer, tumour, kidney failure, heart attack etc. The medical treatment for such diseases is very costly and the insured receives the sum assured when diagnosed with any of the critical illness.This comes either as standalone health policy or a rider on another policy. The benefit of this policy is one does not have to worry about showing receipts, bill or proof of expenses. Just a written proof of diagnose of disease from hospital is sufficient enough to claim the amount.
  • Mediclaim : This is an insurance policy which helps cover the expenses that occurs for some treatment in any hospital. It is actually a hospitalisation benefit you get in case you get sick and hospitalised. The amount covered depends on the plan you take from insurer. You can go for 5lac or 10lac and accordingly you have to pay the premium.The premium depends on the age , term of plan , amount insured etc.