Different Types of Health Insurance Policy in India

Different Types of Health Insurance Policy in India
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The growth in health-related concerns has resulted in a significant increase in treatment expenses. Furthermore, the need for Health Insurance Plans is increasing. As a result, there are many types of Health Insurance Policy on the market that may help you save that extra weight on your budget.

These insurance policies not only help you discover the finest therapy for your health concerns but also keep you financially stress-free. Choosing the correct insurance plan might be difficult due to the various types of Health Insurance policy available in India.

Given the growth in the expense of healthcare services, a Health Insurance Policy in India is the greatest savior more than anything else. There are several sorts of insurance plans available to fit your needs.

Let us look at the many types of health insurance policy accessible in India.

Individual Health Insurance

Individual Health Insurance is designed for a single person. It may be purchased by a single person, as the name implies. The individual who enrolls in this plan is paid for the expenditures incurred due to illness and medical expenses. Such medical insurance plans cover all hospitalization, surgery, and pre and post medication costs until the covered maximum is reached.

The plan’s premium is determined by the buyer’s age and medical history. Furthermore, by paying an additional premium under the same plan, the insured individual can cover his spouse, children, and parents.

Family Health Insurance

The Family Health Insurance Policy, also known as the Family Floater Plan, protects your complete family under a single policy. Health insurance policies for families include all members of your family, including your spouse, children, and elderly parents. Only one member of the family is required to pay the premium, and the entire family is insured with a single payment. If two family members are receiving treatment at the same time, you can use the insurance for each of them until the maximum is reached. The premium is determined by the age of the eldest person who will be covered by the plan.

So, try to avoid include relatives over the age of 60 in your family health insurance plan because they are more prone to disease and thus have a higher cost.

Critical Illness Insurance

The Critical Illness Insurance plan protects the individual by providing a lump sum of money for life-threatening conditions. The specified health issues are included when you purchase the insurance, and if you are impacted by any of the pre-selected illnesses, you can claim your insurance.

It is not necessary to be hospitalized to submit a claim under this type of insurance coverage. Only a sickness diagnosis can entitle you to the advantages of critical illness insurance. The amount to be paid is pre-determined, regardless of pre-or post-hospitalization expenditures. The following is a list of all serious diseases that are covered by Critical Illness Insurance.

  • Major organ transplant
  • Cancer
  • Aorta graft surgery
  • Kidney failure
  • Primary pulmonary arterial hypertension
  • Stroke
  • Multiple sclerosis
  • Paralysis
  • First heart attack
  • Coronary artery bypass surgery

Top Up Health Insurance

If a person needs more coverage, he can purchase the Top Up Health Insurance plan. However, a “Deductible Clause” has been introduced to this policy. As a result, when a claim is submitted, the payout provided goes above and above the policy’s pre-defined maximum.

Furthermore, a Super Top-Up plan is offered for the person. It adds coverage to the standard insurance to enhance the sum covered. The Super Top-up plan can only be used once the normal policy’s covered sum has been depleted.

Personal Accident Insurance

The number of road accident cases has risen over time, which is why there are now certain forms of health insurance in India to safeguard residents. As a result, many lose their lives or become handicapped, and facing the costs of therapy can be emotionally draining. As a result, purchasing personal accident insurance coverage is a sensible decision. As a kind of assistance, this coverage pays a lump sum payment to the victim or his or her family. Some plans also include schooling benefits and orphan benefits to help youngsters with their expenditures.


As a result, a buyer must invest his time and effort in learning completely about what is health insurance and the various types of health insurance policies available on the market. It is also critical to compare various insurance providers and their terms and conditions.

Many people grumble about paying an exorbitant price and get little in return. This occurs when a person fails to acquire all of the necessary information about all of the insurance plans and businesses. As a result, to select the best plan for you, you must first grasp the ins and outs of all sorts of medical insurance policies.

Written by Hardik Tokas

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