Know The Top 3 Types Of Health Insurance That Can Protect Your Family For Years To Come

Health Insurance That Can Protect Your Family For Years To Come

High-quality healthcare is now more widely available thanks to health insurance. Especially in the case of private healthcare, although many people still find the costs to be exorbitant. Without medical insurance, a family or person must pay the hospital bills out of their own pocket. When they are admit to the hospital. Lack of funds to handle a sudden medical emergency is the most common issue facing Indians. In such a circumstance, a medical insurance plan might be very beneficial.

Your prompt and appropriate care will be guarante by your health insurance. Regardless of your financial situation, you can obtain the best care with an active medical insurance at any hospital network as long as all of the policy’s requirements are met. 

There are three major types of medical insurance available in India. These are

Individual Health Insurance

A single person is the target audience for an individual health insurance plan. It can be purchase by one person, as the name implies. The person who enrolls in this plan for insurance is reimbursed for any illness-relate and medical expenses. Until the insure maximum is reache, these types of medical insurance plans pay for all hospitalization, surgical, pre- and post-medication costs.

The age and medical history of the customer are taken into account while determining the plan’s premium. Additionally, the insure person can extend coverage under the same plan to include his or her spouse, children, and parents by paying an additional premium. There is, however, a 2- to 3-year waiting time before you can start receiving benefits if you purchase insurance for a pre-existing condition.

Health insurance policy for families

It is also referre to as the Family Floater Plan, and it provides coverage for every member of your family under one roof. All of the members of your family, including your spouse, children, and seniors, are covere by family health insurance plans. One premium covers the entire family, which means that only one family member needs to pay it. If two family members are receiving care at the same time, you may submit claims for both of them (as long as the treatment cost does not exceed the sum assure). The premium depends on the age of the oldest person to be cover by the plan. Therefore, try to avoid including individuals older than 60 in your family health insurance plan as they are more likely to become ill, which will affect the cost.

Senior Citizen health Insurance

Whether illness results from a medical condition or an accident. The Senior Citizen Health Insurance will provide you with coverage for the expense of pre and post hospitalization, and medications. It also includes post-treatment fees, ambulance charges, diagnostic tests etc. Additional benefits including psychiatric benefits and domiciliary hospitalization are also provid. The maximum age has been set at 70 years old. A full physical examination may also be require before the insurer sells Senior Citizen Health Insurance. Additionally, because senior citizens are more likely to get sick, the premium for this plan is somewhat higher.

Other types of insurance plans for you to consider

Top Up Health Insurance

If a person wants coverage for bigger sums, he/she can purchase the Top Up Health Insurance plan. But this policy now includes a “Deductible Clause.” As a result, when a claim is paid out, more money is paid out than the policy’s pre-establish maximum. Additionally, the person has access to a Super Top-Up package. In order to raise the sum insure, it offers more coverage than the standard insurance. Only when the standard policy’s insure amount has been use up can the Super Top-up plan be use.


Accidents and illnesses can be sudden and create a major financial crisis in the lives of those who are unprepare. The same holds true for any costs associate with being hospitalize for any of these. As a result, purchasing a Mediclaim Policy is recommend. Your hospitalization costs will be covere by the Mediclaim Policy in the event of a sickness or accident. It covers in-patient expenses such as those relate to surgery, doctor visits, nursing costs, oxygen, and anesthesia. There are various forms of the Mediclaim Policy on the market, including group mediclaim, individual medical insurance, overseas medical insurance, etc.

Critical Illness Insurance

This plan offers a lump sum as a one-time payout against life-threatening illnesses. The pre-select health issues are cover when you purchase the insurance, and if treatment is require for any old or newly diagnose illnesses, you can file a claim. This kind of insurance policy does not require hospitalization in order to submit a claim. You can only take use of the benefits of critical illness insurance after receiving a disease diagnosis. The payment amount is predetermined and is unaffected by pre- and post-hospitalization costs.

Armed with information, you can now make an informe choice. A health insurance policy is a must in this day and era when illnesses are on the rise. A proper policy can safeguard your finances and out your mind to ease at a time of crisis. 

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