Health Insurance

Illness is a debilitating experience,and in the case of serious illness the experience is even more traumatic for you and your family members. In this case, when you have the added worry of paying inevitably hefty medical bills, it makes a bad situation worse. To rescue you from this plight, your knight in shining armor can be health insurance.
Different health insurance products will offer different benefits. Broadly you will receive cover to take care of expenses for ambulance, hospital room, various medical tests, medication, blood,oxygen, and many other costs involved in a sudden illness or accident.

What are the different types of health insurance available?

There are a variety of health insurance products offered by the many insurance companies in India. Each will have slightly different benefits attached. However, health insurance can be broadly placed in these categories:

  • Individual - If you have taken an individual policy in your name, the benefit will be applicable only to you.
  • Family floater -This type policy will cover not only yourself, but also your immediate family members that you have specifically named in the policy.However, the cumulative claim for all family members cannot exceed the overall sum assured.
  • Surgery and critical illness -This would cover expenses for the treatment of serious and critical illnesses like cancer, high risk heart disease, paralysis, major organ failure, etc and also for any major surgery. Typically, these policies would come at a higher premium.
  • Senior citizen - As you grow older, your medical needs increase and you are more at risk for certain age related ailments.Many insurance companies have started offering policies which specifically covers sickness during old age.