Health Insurance Plans

With soaring medical costs, ordinary ailments can burn huge hole in a common man's wallet. The possibilities of life threatening illnesses make the need of financial protection during any emergency of utmost importance. Health insurance is that affordable contract between an individual and insurer that can be availed to counter rapidly rising medical expenses.

There are many health insurance to choose from and the following are some of the recommended policies:

• Individual Health insurance policy: This policy allows an individual to choose a particular sum insurance which covers only for the individual. Other individual's health insurance is neither covered nor claimed in this policy.
• Family floater health insurance policy: This policy covers family members in one sum assured and if any family member makes a claim, the coverage plan for others is reduced from the total sum.
• Critical illness health insurance policy: This policy is generally an add-on policy to standard health insurance policy to cover the expenses of critical, life threatening illnesses such as cancer, kidney failure etc, where in a lump sum amount is paid to the policy holder.
• Senior citizen health insurance plans: The medical expense of the senior citizens is usually on a higher side and insurers are usually hesitant to cover them. However these insurance policies are formulated at affordable cost to cater the senior citizens needs.
• Maternity health Insurance Policy: This policy covers the cost related to normal/c-section deliveries, pre and post natal care and in some cases, the cost of new born like: vaccines etc.
• Group/employee health insurance policy: The policy is usually an additional benefit to the employees of an organization where the premium is shared by employees and employer.
• Preventive health care policy: This policy is for a group wherein the insured members are offered preventive health checkups to detect any ailments or diseases and avoid hospitalisation for major ailments.
• Personal Accident covers: This policy usually is opted as an additional cover to meet the expenses towards hospitalisation and treatment caused due to accident, which is not covered under standard health insurance plan.