List of Health Insurance Plans Available in India
Claim Settlement Ratio (OND 2018)
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Suhas was discussing with his father, about his friend, whose mother was recently diagnosed with kidney failure. His father asked whether his friend has health insurance. Suhas told him that he has individual health insurance only. Under which he could not claim for his mother’s treatment. After hearing this, his father told him about the importance of having the right insurance plan. He also suggested him to get information on various health insurance plans and pick the right one accordingly, as medical emergencies can strike anytime. So, like Suhas, if you are also a newbie in the insurance sector, then read this article to get the gist about different health insurance plans available in India.
There are 7 main types of health insurance plans they are:
As the name suggests, it meant for individuals that give copious healthcare security. If you are an individual looking for a health insurance policy for yourself, you can opt for it. This policy covers your pre and post-hospitalization expenses up to the sum insured against the premium that you have to pay to the insurer. You can also buy it for your individual family members separately.
Under family floater, you can cover all your family members in one policy against a single sum insured. This policy is to safeguard the health of your entire family. You can add multiple nominees in this plan. The amount of premium in family floater plans is comparatively lower than individual health insurance plans. It covers all the medical expenses right from diagnosis to recovery. It acts as an umbrella of protection for your loving family.
These days the epidemic of critical illness is spreading in India alarmingly. Critical illnesses such as cancer, heart ailments, stroke, primary pulmonary arterial hypertension, sclerosis, and organ failure can knock your door as uninvited guests. Skyrocketing treatment costs can create havoc in your life. Critical illness insurance covers the treatment of all these diseases. It mitigates your pre and post hospitalization expenses along with medication up to the sum insured. It is an affordable indemnity based product that comes with lifelong renewability.
Motherhood is the most important phase in a woman’s life. Bringing new life to this world is a big responsibility for you. Although the journey is not at all smooth, sound medical insurance can give you peace of mind. So, if you are on the way to start a family, then you should opt for maternity insurance. It covers your pregnancy-related expenses related to normal delivery, cesarean, pre and postnatal, post-delivery care, and vaccination. Maternity insurance ensures you the best medical facilities at the time of pregnancy.
Top-up insurance plan serves you as a backup plan. It acts like a Stepney to your existing health cover once you exhaust the sum insured limit. Therefore, it covers the cost after you reached a certain threshold of expenses. It gives you the reimbursement of your hospital expenditure that arises out of a single illness. It is affordable additional coverage that helps you to cope up with extra expenditure due to unforeseen medical emergencies.
This type of health insurance is specially designed for people who have crossed 60 years of age and are called senior citizens. It offers financial assistance to the senior citizens who are living retired lives and have no fixed income. Under this policy, they get financial assistance during medical emergencies. They can also avail facilities like an emergency hospitalization, domiciliary hospitalization, critical illness, Day-care treatment, and more under senior citizen health insurance plan. This is the best way to take care of your elderly parents and give them healthy lives in their old age.
It provides financial coverage during medical emergencies. You can opt for separate mediclaim to cover your family members. The expenses will be paid by your insurance provider either directly to the hospital or give you the reimbursement. From pre and post hospitalization expenses to medication, chemotherapies and radiotherapies all are covered under mediclaim policy. You have to submit all the required documents to the insurer to get the hassle-free and timely claim settlement.
Health facilities are getting better, but the cost of healthcare is rising rapidly. Thus, it’s vital to protect yourself and your loved ones from financial distress during medical emergencies. But, the plethora of health insurance plans can get you confused. This is why it’s wise to know about the various health insurance plans and then opt for the one that suits your medical needs. Check a wide range of comprehensive health insurance policies offered by Religare that give you maximum coverage along with financial security and peace of mind.