Getting a health cover is important regardless of where you live because it saves you financial stress during exigencies. Health insurance in India is available in the form of policies with varied features and benefits which prove extremely handy in times of medical emergencies.
What are the various health covers available in India? Some health covers come along as employee group covers. In such a cover, the employer provides health insurance plans for his employees. The employee can then enjoy a health insurance policy as long as he is working in the company. The premium of the policy is usually shared between the employee and the employer. Some companies also extend this policy to the parents of their employees.
A family floater health plan is another popular health insurance product. Under this plan, all the family members are covered under a lump sum of money. This means if the plan is for a sum of Rs 5 lakhs, all four members of a family are covered up to a sum assured of 5 lakhs. The amount continues to be applicable for any member of the family. But in case, the sum assured is exhausted on one individual alone, all other members are left without a cover.
Other health plans include those for individuals and senior citizens. An individual health plan, covers the insured for a certain amount of cover. Top up plans can be bought additionally to increase the base value of the policy. The senior citizen health plan on the other hand, covers citizens above the age of 65 and charges a higher premium as the risks associated are high.
A health insurance policy also comes with various options like co-pay where the insured can opt to pay a certain amount on his own at the time of a claim. There are numerous features like cashless claims, hospital daily allowance which insurance companies give their health policy holders.
Customers who avail the cashless claim facility do not have to pay for getting treatment done. Their insurer pays the hospital on their behalf. All the paperwork is handled by the TPA (Third Party Administrator) who facilitates the processes for a cashless claim. Such a facility can however only be availed in a hospital which is in the network of the insurer. Hospitalisation Daily Allowance on the other hand is an allowance given to the insured for every day spent at the hospital until the sum assured runs out.
Getting a health insurance is important considering the rising medical inflation. Paying on your own for medical emergencies can prove unsettling and may force you to dip into your savings. Because, health risks keep increasing in proportion to the years, the right time to invest in a health insurance policy is when you are young. In India, online health insurance is gaining popularity. Today, customers can easily compare policies on aggregator sites, generate quotes and even buy a policy in a matter of minutes!
What are the various health covers available in India? Some health covers come along as employee group covers. In such a cover, the employer provides health insurance plans for his employees. The employee can then enjoy a health insurance policy as long as he is working in the company. The premium of the policy is usually shared between the employee and the employer. Some companies also extend this policy to the parents of their employees.
A family floater health plan is another popular health insurance product. Under this plan, all the family members are covered under a lump sum of money. This means if the plan is for a sum of Rs 5 lakhs, all four members of a family are covered up to a sum assured of 5 lakhs. The amount continues to be applicable for any member of the family. But in case, the sum assured is exhausted on one individual alone, all other members are left without a cover.
Other health plans include those for individuals and senior citizens. An individual health plan, covers the insured for a certain amount of cover. Top up plans can be bought additionally to increase the base value of the policy. The senior citizen health plan on the other hand, covers citizens above the age of 65 and charges a higher premium as the risks associated are high.
A health insurance policy also comes with various options like co-pay where the insured can opt to pay a certain amount on his own at the time of a claim. There are numerous features like cashless claims, hospital daily allowance which insurance companies give their health policy holders.
Customers who avail the cashless claim facility do not have to pay for getting treatment done. Their insurer pays the hospital on their behalf. All the paperwork is handled by the TPA (Third Party Administrator) who facilitates the processes for a cashless claim. Such a facility can however only be availed in a hospital which is in the network of the insurer. Hospitalisation Daily Allowance on the other hand is an allowance given to the insured for every day spent at the hospital until the sum assured runs out.
Getting a health insurance is important considering the rising medical inflation. Paying on your own for medical emergencies can prove unsettling and may force you to dip into your savings. Because, health risks keep increasing in proportion to the years, the right time to invest in a health insurance policy is when you are young. In India, online health insurance is gaining popularity. Today, customers can easily compare policies on aggregator sites, generate quotes and even buy a policy in a matter of minutes!