A health insurance plan covers your family in any health or medical emergency. It provides you with various benefits to secure your health and wealth. Traditionally, Indians used to stock gold to sell it off during health emergencies. But with convenient and affordable health insurance plans, that is no longer required.
Health insurance plans can save you a lot of money in case of medical emergencies, which otherwise can drain you financially if you don’t have a health insurance policy.
With rising health-related issues and medical costs, there is an increase in demand for health insurance plans. Buying the right kind of best health insurance in india plan for yourself and your family can be quite baffling. But it is essential to compare and research for the best suitable plan before putting your money into it.
Due to multiple choices on the table regarding health insurance plans, it is necessary to understand different types of insurance policies and their benefits to purchase the best plan.
Common Health Insurance Plans
Individual Health Insurance Plans
Individual health insurance covers only one person under the insurance. It protects your medical expenses for injury and illnesses related to hospitalisation, surgery expenses, hospital rents, daycare, etc. Every individual covered under this policy has a specific sum insured depending on the policy.
Family Floater Health Insurance Plans
This plan is for you if you are someone who wants a policy that can cover all of your family members. In this plan, a single sum is insured, and the benefits float for all the members covered under this health insurance policy.
The family floater plan is affordable as the premium is low. This policy covers hospitalisation, surgeries, general treatment, daycare and more.
Senior Citizen Health Insurance Plan
If your parents are above 65 years of age and they don’t have any health insurance policy, then this policy is for them.
The premium is higher for this plan as elders are more prone to illnesses. It offers pre and post-hospitalisation coverage of expenses arising from diseases or injury. It also has other benefits like domiciliary hospitalisation and psychiatry benefits.
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Critical Illness Insurance Plan
It is specially designed to deal with a situation arising out of any critical health condition. It provides coverage against health emergencies like heart attack, paralysis, kidney failure, cancer, stroke, etc.
The claimant gets the whole sum insured at one time. It has a lifetime renewal feature. If you have a family history of critical diseases, it’s wise to buy this policy.
Maternity Health Insurance Plan
It is usually purchased as an add-on plan and a basic maternity insurance policy. It covers all the expenses arising from prenatal, postnatal and child delivery. It also covers infertility expenses and provides the insured with coverage for the newborn baby for upto 90 days of birth. It has a minimum waiting period of 2 years.
Best Health Insurance Plans in India 2022
Aditya Birla
The plan is Active assure-Diamond with super NCB. It offers comprehensive cover for hospitalization, pre and post-hospitalization cover, domiciliary hospitalization, regular checkups, daycare procedures, and cashless claim.
HDFC ERGO
Optima Restore health insurance plan, which has features like no claim bonus, and cashless hospitalization, also covers advanced procedures like robotic surgery, oral chemotherapy, and stem cell therapy. It restores your sum insured on partial or complete utilisation of health insurance cover.
Niva Bupa
Health companion insurance plans include various benefits like pre- and post-hospitalization, daycare treatments, no room rent cap, health checkups, no claim bonus, alternative treatment, etc.
Things to Keep in Mind While Purchasing a Health Insurance Plan
Now that you know the various types of health insurance plans, there are some basic factors that you should keep in consideration while purchasing a policy.
- Always look for comprehensive coverage that provides coverage against all the medical expenses incurred and lowers out-of-pocket expenses.
- It is best to opt for policies with lower premiums and provide maximum benefits and a sum insured to cover the medical expenses.
- It is better to choose a plan with a cashless hospitalization option as it reduces a lot of stress while you’re busy taking care of yourself or your loved ones.
- Also, the hospital network of the insurance company should be vast enough so that you do not have difficulty locating it.
- Choose a policy with a lower waiting period in case of pre-existing illnesses.
In conclusion
It is always wise to do the needful research and inquiry before purchasing any health insurance plan for yourself or your family members. You should buy health insurance from a company with a good claim settlement ratio.
Be sure you have chosen the right sum insured, keeping all the points mentioned above in mind to pick the best health insurance plan to secure yourself from all medical emergencies.