Health insurance

A Health insurance policy is a contract between the insurance company and the policyholder, wherein the insurer pays for the medical expenses incurred by the life insured.The insurer will either provide a reimbursement for your medical expenses or ensure you are eligible for cashless treatment for injuries or illnesses covered under the policy at one of the network hospitals. You can also get tax deductions on the premiums paid towards health insurance under Section 80D of the Income Tax Act, 1961.

Types of Health Insurance Plans in India:

Individual Health Insurance:

As the name suggests, Individual health plans are made for individual policyholders. The premiums might be low under such plans, but there are a variety of factors that contribute to the price of a policy. Previous medical conditions, age, location, etc. are a few of the parameters that influence the premium.

Family Floater Health Insurance:

Instead of buying separate policies for every member, a family floater plan covers the entire family under one plan. Typically, parents and children (up to 2 children) can be covered under this plan. Some insurers even provide coverage for up to 15 family members. Under such plans, the sum insured is shared by all the included family members. Even though family floater plans have a higher premium than individual plans, the price is still cheaper when compared to the expenses involved in buying a different policy for each member.

Senior Citizen Health Insurance:

Designed to cater to the needs of the senior citizens, such plans are only for the ones who are 60 years old and above. Senior citizen plans usually come with discounts. Though only a few insurers provide such policies, they might ask for a medical check-up before selling the plan. Also, these policies may cost a lot higher than the health covers for younger consumers as senior citizens are more prone to diseases and illnesses.

Critical Illness Health Insurance:

Critical illness plans cover life-threatening illnesses. Cancer, heart attack, organ transplant, kidney failure, etc., are a few of the illnesses covered under such policies. A critical illness cover is especially useful if the insured has a history of certain critical illnesses in the family.

Maternity Health Insurance:

Maternity plans are designed to cover women who are expecting a child. It covers the expenses incurred in the pre-natal stage, delivery, and post-natal stage. Both the mother and the newborn are covered under such plans. Maternity plans can also be bought as a rider to an existing basic policy.

Group/Employee Health Insurance:

Such plans are usually offered by employers and are designed to include and exclude members as they join and leave the company. Group health policies are generally low in premiums due to the reduced risks involved. Such plans also allow leniency in terms of covering pre-existing illnesses among other things

Preventive Healthcare:

A preventive healthcare policy covers the expenses incurred during treatments/measures taken to prevent a certain disease, illness, or cancer. Annual check-ups and screening tests are few of the services that are covered under preventive healthcare.

Personal Accident Insurance:

Personal accident plans specifically cover the expenses related to unforeseen accidents. Such policies provide compensation in cases of disablement, death, injury, or impairment caused by road, rail, water, or air accidents.

Benefits of Health Insurance:

Cashless Treatment:

When you are covered under a health insurance policy, you can avail cashless treatments which essentially means that you can receive medical treatments without having to pay the hospital from your own pockets."

Cover for Pre- as well as Post-Hospitalisation Expenses:

Effective insurance policies offer coverage for pre- as well as post-hospitalisation expenses for a period of 60 days before and after an insured individual is hospitalised.

Transportation Expenses:

In case you hold a health insurance policy and get hospitalised the plan will cover the costs incurred on using an ambulance to transport you from your home to the hospital or vice-versa.

Medical Check-ups:

Most health insurance policies offer free health check-ups. However, most insurance companies only offer these check-ups for free depending on your No Claim Bonus.

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Hyderabad, Telangana,500016