When buying a health insurance plan in India, you should be aware of the different varieties on offer and get the option that is best suited for you. Take a look at this article to know more about the options available to you and then choose wisely.
There are numerous types of health insurance plans in India, but here is a list of most common ones:
- Individual Health Insurance
This is one of the most common types of health insurance available in India. As the name suggests, you get coverage for one individual under this plan. Covers such as in-patient care, pre and post-hospital care, daycare treatments, domiciliary care and sometimes even OPD expenses are covered under individual health insurance plans. Such a plan is suitable for a person who has fragile health, or is predisposed to serious illnesses. Single and unmarried people who do not have dependent family members also buy individual health plans very commonly.
- Family Floater Health Insurance
Family floater health insurance is undoubtedly the most common type of health insurance available in India. All members of a single-family stay insured under a common health insurance umbrella when you buy a family health insurance plan. Expenses such as post and pre-hospitalisation, home health care, etc are available in a family floater health plan. All the leading health insurance companies in India have family floater health plans on offer. Compare among the options and find the best policy for yourself as well as others in your immediate family.
- Group Health Insurance
Group health insurance is provided to the employees of an organisation by the employer. It is an employment bonus. The employee doesn't have to pay extra for the health cover. All the people, who are all the employees of the company, receive the same set of covers under a group health plan. You can stay covered under such a policy until the time you stay employed. If you retire or get fired from the job, you will instantly lose the health insurance cover as well.
- Senior Citizen Health Insurance
Senior citizen health insurance plans are specifically designed for people above the age of 60. Senior citizens require more health care in general as with age their health deteriorates. Conversely, it is difficult to find proper health insurance at this age as insurers aren’t always keen to insure them. The senior health plans, therefore, prove to be very handy and offer the correct medical coverage the senior citizens need.
- Maternity Insurance
Children are born in all families and hence, maternity expenses are present widely. To cover these expenses and ensure the mother and child receive the best health care facilities, maternity health insurance plans are available. These plans cover all the costs incurred in delivery and newborn care. There are long waiting periods associated with maternity insurance, so you should plan ahead and get your maternity insurance plan well in advance.
- Critical Illness Insurance
This is another popular and handy type of health insurance. When you buy a critical illness insurance plan, you are promised a sum insured if you get diagnosed with a critical illness during the policy period. The insurer provides you with a list of critical illnesses that are covered. These include organ failure, stroke and heart attack, among others. You are free to use the amount you receive in any way after your diagnosis is confirmed.
Summary
Choose your insurance plan with a lot of care. Never make the mistake of buying health insurance without understanding the type of cover. Weigh them against your needs and find a plan that meets your requirements. Do not buy a plan that your neighbour bought, as that may prove to be redundant for you. Choose wisely and stay protected in the most comprehensive manner.
