What is Health Insurance?
Nobody is unaware about the ever rising exorbitant costs of medical expenses, health insurance offers financial support in uncertain medical requirements. Plan usually covers medical expenses during hospitalization along with pre and post hospitalization expenses depending on plan details. Different plan covers facilities differently like Sub Limits, Maternity Cover etc so it becomes more important to go in details while choosing a plan.
What are the types of Health Insurance policies?
- Individual Policy : This policy covers entire hospitalization, coverage details depend on the Sum Assured taken and premium paid.
- Family Floater : This is an apt way to cover entire family under one umbrella policy with common Sum Assured.
- Critical Illness Plan : Certain critical diseases related to hear, brain and other important internal organs are given due importance in plans. Many of them pay the Sum Assured on mere detection of such critical illnesses.
- Mediclaim including OPD expenses : Certain plans include OPD expenses, consultation fees & other preventive measures prescribed by physicians as well.
- Group Health Insurance for Corporate : An insurance plan that provides healthcare coverage to a select group of people. Group health insurance plans are one of the major benefits offered by many employers. These plans are generally uniform in nature, offering the same benefits to all employees or members of the group. Group health insurance plans usually cost less for participants than individual plans that offer the same benefits. This is because the risk is spread over the entire group, rather than one person. If the cost of premiums is borne by the insurer, then they are fully deductible, while any benefit received by group members is tax free.