Types of Health Insurance Plans

Posted by priti singh on June 25th, 2019

Today, health issues are rising. The reason behind it is our irregular eating habits and
unhealthy lifestyle. The ever-increasing cost of healthcare can burn a big hole in one’s
pocket. So, to avoid this kind of situations you should buy suitable health insurance plans.
Below mentioned are some of the basic plans that most of the companies offer.
1) Individual Health Insurance Plans
In individual health insurance plans, the health expenses of an insured individual is
covered. This type of policy pays for surgical and hospitalization expenses of an
insured individual until the limit is reached. The amount of premium in this
insurance plan is based on medical history and the age of an individual.
2) Health Insurance Plans for Family
In family floater health insurance plans, a person can get coverage for his/her entire
family – spouse, children, and parents in a single plan. Any family member that is
covered under the policy can claim in case of hospitalization and surgical
expenses. You also have to pay a premium for health insurance plans for a family
just like individual plans. The amount of the premium is based on the age of the
eldest member under the coverage of the policy.
3) Group Health Cover
Group health insurance plans one can buy for his/her employees. The amount of
premium in this plan is lower than an individual health insurance policy. Group
health insurance plans are generally standardized and offer similar advantages
to all employees.
4) Critical Illness Health Cover
This insurance plan covers the expenses involved in treating serious diseases such as
tumor and permanent paralysis. With individual health insurance plan, an
insured person gets a lump sum amount on the diagnosis of life-threatening
diseases. There is no need for hospitalization in this plan to claim the benefits.
Only the diagnosis is enough.
5) Senior Citizen Health Insurance
At old age, health issues arise requires expensive treatments. To meet this high medical
cost, insurance companies have designed insurance plans, especially for, senior
citizens. As compared to other insurance plans, the amount of premium in this
plan is higher. These plans provide coverage to anyone from the age of 65 and
above.

It is important to remember to choose a good insurance company. Currently there are many in the market, for example, Bharti AXA