Everyone Must Know about Health Insurance and its types

Health Insurance and its type
Health Insurance and its type

Health insurance plan is a product offered by insurance companies that covers all costs related to the medical expenses of the insured.

What Is Health Insurance?

Health insurance plan is a product offered by insurance companies that covers all costs related to the medical expenses of the insured. This can be bought for an individual or for an entire family. The term of the plan is ideally fixed at one year and in some cases, one can buy the plan for a term of two to three years as well.

With a health insurance plan in place, one gets entitled to adequate medical help in case of an emergency or in a pre-planned medical expense, without worrying about the financial costs.

Types of Health Insurance Plans

Following are the various types of health plans for you to select from:

Cardiac Care Plan

These are cardiac special health insurance plans since the cost of treatment has risen drastically in the last few years. These plans cover all heart-related ailments and surgeries.

Maternity Policies

These are the plans that take care of maternity-related expenses including hospitalization, up to 2 delivery & MTP expenses and cover the newborn baby expenses for a certain period of time.

Critical Illnesses Plan

This plan is to provide health benefits for critical illnesses like cancer, paralysis, stroke, heart-related ailments and the likes. Under these plans, the insured is paid the entire sum insured at the time of diagnosis itself rather than waiting for the treatment to get over.

Family Floater Policies

These policies cater to entire families including spouses and children and in some cases, it includes parents & extended family too under a single umbrella policy. These are comparatively cheaper than individual plans

Extended Family Plans

Certain insurers also provide health insurance coverage to siblings and extended family including the family of spouse etc. This gives comprehensive health coverage to the entire family.

Dengue Care Plan

Dengue comes back as an epidemic every year and the cost of treatment is extremely high as well. With such plans, one can manage the disease if it strikes despite all precautions.

Personal Accident Plan

An accident can happen anywhere, anytime. The result could be a disability, partial disability and long periods of recovery and rehabilitation. The personal accident plan gives u a lump sum amount & helps to cope up with expenses during this period including hospitalization expenses and routine household expenses.

Top-up Plans

Top-up plans provide the benefit of higher insurance coverage at only a marginally higher cost. They can be a good supplement to your primary health cover. Top-up plans come with a deductible or threshold limit, you need the claim above the deductible in a single claim to trigger the Sum Insured for plan.

Super Top-up Plans

Super Top-up plans provide the benefit of higher insurance coverage at only a marginally higher cost. These plans come with a deductible or threshold limit, you need the claim above the deductible in multiple claims to trigger the Sum Insured for a plan. This plan is better than the top-up plans.

Cancer Care Plans

Even though cancer is part of a critical illness plan, a health policy dedicated only to cancer is more beneficial if the insured has a family history of the said disease. This way one can have access to a substantial amount of funds for managing and treating the disease.

Senior Citizen Plan

Senior citizens are the most vulnerable lot, who require expansive medical care that results in massive expenses too. Senior citizen plan can help them get adequate care without burning a hole in the pocket.

Worldwide Emergency Cover Plan

For those traveling frequently all over the world for business or leisure purposes can avail such plans to take care of the emergency hospitalization expenses in a foreign country. Make your health insurance search easy at easypolicy.com!

Diabetics Plan

These plans cover the insured for diabetes and its related complications even if the customer is suffering from the disease at the time of taking the policy. Diabetes can be covered from day 1 or after a waiting period depending on the plan. There are only a handful of players in the market providing such coverage so choose carefully.

Individual Policy

As the name states, you can buy it for yourself and covers only your health-related expenses.

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Health Insurance Plans 2019 in India

Company NameCoverageSum InsuredIncurred Claim
Ratio (2017-18)
PeriodNo claim bonusRestorationHealth Check upNetwork Hospitals
HDFC Ergo Suraksha2 Adults + 2 Kids3 Lacs to 50 Lacs52.55%4 Years10% up to 100%OptionalAfter 4 claim free year9000+
Manipal Cigna Pro Health2 Adults + 3 Kids2.5 Lacs to 1 Crore46.32%3 Years10% up to 200%Unlimited Auto Restoration on partial claimEvery year (except 1 year)6500+
Aditya birla Activ Assure2 Adults + 4 Kids3 Lacs to 2 Crore89.05%4 Years10% up to 50%Auto Restoration of 150 % on partial claimEvery year5700+
Religare Health Care2 Adults + 4 Kids3 Lacs to 6 Crore51.99%4 Years10% up to 50%Restoration of 100% on exhusationEvery year6000+
Star health & Allied Comprehensive2 Adults + 3 Kids5 lacs to 25 Lacs61.77%4 Years50% up to 100%Restoration of 100% on exhusationAfter 3 claim free year9300+
Max bupa health Companion2 Adults + 4 Kids3 Lacs to 1 Crore50.26%3 Years20% up to 100%Auto Restoration of 100 % on partial claimEvery year4500+
Bajaj Allianz family heath Guard2 Adults + 4 Kids1.5 Lacs to 50 Lacs77.61%3 Years10% up to 100%Restoration of 100% on exhusationAfter 3 year6000+
Royal Sundaram life line2 Adults + 4 Kids2 Lacs to 2 Crore61.35%3 Years20% up to 100%Auto Restoration of 100 % on partial claimAvailabe3000+
Apollo Munich Optima Restore2 Adults + 4 Kids3 Lacs to 50 Lacs62.50%3 Years50% up to 100%Auto Restoration of 100 % on partial claimEvery year5000+
Reliance More Health insurance2 Adults + 6 Kids2 Lacs to 1 CroreNew3 YearssNARestoration of 100% on exhusationOn renewal5000+
Reliance General Health Gain2 Adults + 4 Kids3 Lacs to 18 Lacs106.51%3 Years33.33% up to 100%Restoration of 100% on exhusationNot Available4000+

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