The Different Types Of Health Insurance In India

By Author: Pranav V Sharma
Total Articles: 141
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Health insurance in India is becoming more and more important every day. People are finally seeing its importance and making it a constant part of their lives. And they’re not wrong. Health insurance is needed by everyone, everywhere. Keep in mind that falling ill is a regular happening for everyone – whether it’s a common cold or cough, or something more serious, illness can’t be avoided. Having a good health insurance policy ensures that you can, at least, take care of it as it comes along.

Health insurance in India comes in many forms. Knowing all of them can help you in choosing the best one for you and your loved ones.

The first one to remember is the Individual Health Insurance Policy. This kind of health insurance in India covers just one person and his/her medical needs. Available with almost every insurance provider, it is ideal for you if you want to insure just yourself. While the coverage may differ from company to company, this health insurance policy does generally cover hospital costs. The kind of illnesses, diseases and surgeries it could include will be varied based on which kind of policy ...
... you choose. Health insurance in India provides a lot of options within the Individual Policy plans for everyone to choose from.

The second kind of health insurance in India is the Family Floater Policy. Like the name suggests, this policy covers you, your spouse and your two minor kids. Some insurance companies also allow you to include your dependant parents as a part of the policy. Health insurance in India provides several choices depending on premium and coverage that you can choose from, and often you’ll find a policy that’s tailor made for you.

Depending on which policy you choose, you either have one amount that the entire family can claim from or each family member has a separately allotted amount. A Family Floater Health Insurance Policy will work out to be much cheaper than buying health insurance in India for each member separately.

Another kind of health insurance is the Critical Illness Policy. Health insurance in India offers several policies for people suffering from a critical illness. Most of the insurance providers give a lump sum amount to the person diagnosed with the illness so the person can get the proper treatment. However, keep in mind that like all other health insurance policies, this might take a while to get activated after you start making the initial premium payments.

The final kind of health insurance is the Senior Citizens Policy. This policy can be applied for by people who qualify as senior citizens and are above the age of 60. While these plans have higher premium costs, they also have short waiting periods. Health insurance in India offers many benefits for the people who avail this kind of plan, and the coverage can differ from policy to policy.

Health insurance in India comes in many types and forms. You can pick the one that’s perfect for you based on your needs and requirements. Keep in mind that while you can pick and choose the health insurance in India that’s perfect for you, you have to have some kind of policy at least. Not buying health insurance is an unnecessary risk that should always be avoided. Health insurance is a source of relief to everyone, why take a chance with safety, after all!
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Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right Health Insurance plan in india & often shares his insights about the general insurance industry on internet.