Now-a-days everyone are facing burdens of problem in their life. And stress have make it’s position in head of every person. Lots of stress become a major reason of a poor health. We can’t say that who will loss their life because of their poor health.
What if there is a single earning person in a family. He got stressed and get hospitalized. Then how can pay for their medical expenses. And anyhow he get die by lack of medical treatment. Then what will happen to the rest of family?, how can they live?, how can they arrange for eat?. Like this, so many questions start swirling in our mind.
To prevent these situations to happen, there are many types of insurances for people. Health Insurance is one of them.
It is the type of insurance that covers the whole or part of risk of a person incurring medical expenses. Here an insurer estimates overall risks of health risks and and it’s expenses over many risks. By this an insurer can develop a routine finance structure such as monthly income an payroll tax, to provide money for pay health care benefits specified in insurance agreement. Central organization like government agency, private business or not for profit entity administers overall benefits. These benefits includes insurances for losses of accident, disability, medical expenses, accidental death and dismemberment.
As medical inflation are rising in India day by day, buying health insurance has become a necessity. There are many plans available in India. These health insurance plans have made for a separate suitable situation.
Types Of Health Insurance Policy plans
There are eight main types of health insurance policies available in India. These are:
Individual Health Insurance- These are healthcare plans wherein only one policyholder can be covered in each plan. Here both the health insurance premium and sum insured dedicated for one person only and can’t be shared.The benefit of health insurance plan is that the insurance is a lots more extensive, since every individual has their own sum insured. An individual health insurance is highly recommended for bigger families or those with senior parents as a family floater may not be sufficient.
Family Floater Insurance- These health insurance policies allows you and your family share one plan together. Here both your health insurance premium and sum insured would be share amongst all members in the family. The benefits of this health insurance plan is that the health insurance premium is cost effective, as this premium is one time premium for all family. A family floater health insurance would work well for a young couple or a small and nuclear family.
Critical Illness Cover- These health insurance policies are specialized health plans that provide extensive financial assistance when the policyholder is diagnosed with any specific disease like heart attack, cancer etc. Because these illness incur so much medical cost. These health insurance policy payout cash to help cover the money needs in medical treatment.
Senior Citizen Health Insurance- These health insurance policies specifically cater to individual person aged 60 years and beyond. This age is alarming age that calls for more caution in terms of health. Here so much money can place in treatment in just one month or some weeks. These policies are helpful for this aged people so that their health needed money can’t become stressful to other family members.
Group Health Insurance- These health insurance policies offers to coverage to a group of people.Usually these insurance cover is offered to organization, banks, business groups, housing societies etc. Cost of premium is borne by the organization itself. It’s coverage is provided a long the employee is part of the organization. Group health insurance policy doesn’t get costlier with the age of employ.
Maternity Health Insurance- These health insurance policies cover medical expenses during pregnancy. It covers both mother as well as newborn expenses, pre-natal and post-natal expenses, post delivery care and vaccination.
Personal Accident Insurance- These health insurance policies only covers financial liability from injury, disability or death arising due to accidents. Here accidental death of the policy holder gets 100% compensation from insurer. In this case, money get flows like water from hands in serious harmful accidents. These policies are specialized for only this situation.
Preventive Healthcare Plan- These policies cover the costs of treatment concerned with preventing a sever disease or condition. Insurer and healthcare providers across the country offer various plans in the forms of preventing healthcare checkup packages for individuals looking to undergo regular checkups.
Benefits Of Health Insurance
After knowing the various types of health insurance plans available. We must know why these health insurance policies available and how they are essential for you and your loved ones. Now understand their reasons of availability in below the list:
Medical Cover- It offers the financial coverage in medical expenditure. When a person face some serious medical problems and money become a great source to get rid from that situation. Having health insurance will give you a great help in medical related situations. Either it’s an old or young person.
Cashless Claim- Generally insurance companies tie-ups with hospitals that offers cashless claim facility. Here, you don’t have to make any out of pocket payments and your medical bills are directly settled between your insurer and hospital. You just have to fill out a pre-authorization card and display your health insurance card to enjoy this facility.
Tax Benefits- To enjoy this facility you have to pay health insurance premium. Under the section 80D of Income Tax Act, there is a tax benefits available up to Rs. 1 lakh on premium payment of health insurance policies.
Critical Illness Cover- Health insurance policies provides critical illness insurance now-a-days against life-thretening diseases like kidney failure, bone marrow transplant, heat attack etc. You can receive lump sum amount from predetermined list of your policy. Having health insurance makes you eligible to use this amount in your illness related treatment costs, daily expenses and any other financial obligations.
There may be additional advantages depending on the insurance provider in questions.
And now you can get your suitable health insurance plans after read this article. Life is so large and filled with many problems. No one knows when, where and how, what happens with us. Health insurance and many other types of insurances have been made for us so that we can get rid financially.
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