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Different Types of Health Insurance in India

medical insurance for family in India

With the escalation of health-related difficulties, there has been an exponential surge in treatment expenses. In addition, the demand for health insurance plans is growing. Consequently, a variety of Health Insurance Policies on the market alleviate this financial load.

These insurance plans not only allow you to obtain the finest therapy for your health problems, but also relieve you of financial worry. As there are various sorts of Health Insurance plans in India, purchasing the proper insurance plan can be quite confusing.

In order to assist you, we have enumerated all sorts of plans and defined all key aspects of medical insurance for family in India, so that you may choose the best plan for you.

Personal Medical Insurance

Individual Health Insurance is designed for a single individual. As the name implies, it is available for purchase by a single individual. This plan reimburses the insured for medical and illness-related costs. These types of medical health insurance in India cover all hospitalisation, surgical, pre- and post-medication costs up to the policy maximum.

The plan’s premium is determined by the purchaser’s age and medical history. In addition, the insured can cover his spouse, children, and parents by paying an additional premium for the same plan. However, if you are covered for a pre-existing condition, there is a 2 to 3 year waiting time before you can begin receiving benefits.

Family Health Insurance Coverage

Family Health Insurance Policy, also known as the Family Floater Plan, protects your complete family under a single plan. Family health insurance plans include all family members, including your spouse, children, and parents. Only one family member is responsible for paying the premium, and the entire family is protected for a single payment.

In the event that two family members receive treatment at the same time, you may submit claims for both of them until the coverage maximum is reached. The premium is determined by the age of the plan’s oldest participant. Therefore, try to avoid adding individuals older than 60 to your family medical insurance for family in India, as they are more susceptible to illness and their premium will be affected as a result.

Critical Illness Protection

The Critical Illness Insurance policy safeguards the individual by providing a lump sum payment for life-threatening illnesses. At the time of purchase, the selected health problems are incorporated, and if you contract any of the pre-selected diseases, you can file a claim. In order to file a claim under this sort of insurance policy, hospitalization is not required. The advantages of critical illness insurance can only be utilised when a disease has been diagnosed. The payment amount is predetermined regardless of pre- and post-hospitalization expenses.

Supplement Health Insurance

A person can purchase the Top-Up Health Insurance plan if he desires larger coverage limits. However, a “Deductible Clause” has been introduced to this policy. Consequently, when a claim is filed, the amount paid exceeds the policy’s predetermined maximum.

Daily Hospital Cash Flow

Hospital Daily Cash is another component of the various sorts of health insurance policies that offer a unique option. If you are uncertain about purchasing an insurance policy, you should continue with this strategy and investigate how medical health insurance in India functions. This plan might help you protect yourself against unexpected hospitalisation expenditures.

Once a patient is hospitalised, the routine hospital expenses are not fixed and tend to fluctuate according to the patient’s health. In such a circumstance, the Hospital Daily Cash is the ideal option.

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