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The Types Of The Health Insurance Policies

By Expert Author: Neha Sharma

Most medical and surgical procedures take up a lot of finances and funds. A health insurance covers most of the cost of insured individual’s expenses. In this article, we give you the different types of health insurance policies available. Each type of insurance policy has its own sets of advantages and disadvantages. Each healthy policy depends on factors such as age, budget, number of individuals covered, etc. The health insurance is divided into 4 types:

• Individual health insurance policy:

This is one of the simplest forms of life insurance and it is easily available with most health insurance companies in India. This standard policy is designed to cover the normal hospitalization expenses for an individual to a sum that is assured in the plan.

• Family floater Health insurance

This is a type of umbrella insurance that protects the whole family under one policy. This policy will include the immediate family like spouse and children, but it can also include extended family like parents or parents-in-law in the same plan. In this plan, the sum that is assured in the plan is applicable to all the family members listed in the policy, where the complete sum can be used either by a single member or used by more than one member in the same year. This is normally a cheaper type of health insurance for the whole family, as compared to individual health insurance.

• Critical illness health insurance policy

According to this policy, only the critical illnesses are covered which is mentioned in the policy. In this policy, the insured individual receives the funds irrespective of the amount mentioned in the hospital bill, if he is diagnosed and treated with the critical ailment that is mentioned in the policy.

• Senior citizen health insurance

Normally, at the age of 60, individuals are retired and do not have a steady income and the chances of falling ill also high. There is a special health insurance for senior citizens. This policy has added advantages that support the needs of the senior citizens.
There are many health insurance policies that exist to protect you and your family. Before you take a health insurance policy one must check all the details and offers before you accept the policy. Some insurance providers also give certain discounts and bonuses, but there might be certain loopholes than can cause you to pay more than you get in return. If you are unsure of selecting the right health insurance policy, you can always contact a professional agent for health insurance.

Author Bio :-Neha Sharma; a finance student, has extensively studied the field of finance and has also gathered a lot of information about the sphere of health insurance. Here she tells us about the various aspects of health insurance and how one can benefit from it.

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