Medical Insurance Policy
Health Insurance Plans – Several Types to Choose from
This article on types of Health Insurance plans is going to be a long but important one. And it is strongly recommended for reading if you are looking to buy a health insurance plan or mediclaim, shortly. Choosing the right health insurance plan (or mediclaim or medical insurance) can be a lot tougher than say, choosing a term insurance plan. And there are 2 simple reasons for this.
There are various kinds of Health Insurance plans, viz. Individual Health Insurance plans, Family Floater Health Insurance plans, Unit-linked Health Insurance plans, Topup Health Insurance plans, Fixed Payout Health Insurance plans, Group Health Insurance plans, Health Insurance plans for Seniors. Also Health Insurance plans are often confused with Critical Illness plans, but they are very different. Let us understand each one and which one suits which kind of people/families. INDIVIDUAL Health Insurance Plans: These are mediclaim policies which can be taken only for a particular individual.
It has a Sum Assured, which is the maximum claim that can be availed of only for that individual’s medical expenses, in a year. In the case of a family, you can take individual mediclaim policies for each person in the family, without any restriction on number of members. Each policy is independent of the other. FAMILY FLOATER Health Insurance Plans: Family Floater policies can be taken for a pool of people, typically family members. The insurance cover ‘floats’ between different members of the family, and any one or more members of the family can together use any amount up to the maximum Sum Assured, in a year.
FIXED BENEFIT Health Insurance Plans: Unlike other medical insurance plans, Fixed Benefit plans give you guaranteed fixed payouts irrespective of the actual hospital bill amount. Your can use it the way you want, for room charges, medicines, surgery, or anything other expense. All you need to provide is the diagnosis by a certified medical practitioner or at the medical bills.
TOP-UP Health Insurance Plans: A type of mediclaim plan that is used to top-up your existing health insurance from any insurance company. It works to provide additional coverage over and above the existing coverage, provided a threshold level or deductible level is used up. Such a top-up health insurance plan is generally inexpensive and is a great way to increase health expenses protection for the family. [Source: https://medium.com/@sanjaybist/medical-insurance-plans-dc8e ]
Follow us on https://www.facebook.com/BajajAllianz http://www.linkedin.com/company/653474 https://plus.google.com/+BajajAllianzGIC/posts https://twitter.com/BajajAllianz https://www.youtube.com/user/BajajAllianzGIC https://instagram.com/bajajallianzgeneral/