Different types of Health Insurance Policies
While you are already aware of the importance of health insurance, it is important to choose the right plan as well. That is because each type of plan comes with its own terms, conditions, inclusions and exclusions. Here are a few that are quite popular:
COVID-specific health insurance
Given the current pandemic scenario, this type of insurance can be immensely useful as the premiums are affordable and you can receive 100% of the sum insured in case you are diagnosed with COVID and require 72 hours of constant hospitalization. The amount of sum insured can range from INR 50,000 to INR 5 lakh, depending on the policy you select. COVID-specific plans come with a waiting period of 15 days. Depending on the policy, you can get cover for hospitalization, pre & post hospitalization, home care treatment, AYUSH treatment and even a daily cash cover (add-on).
Comprehensive health insurance
As the term suggests, this kind of insurance covers all kinds of costs that arise from a medical emergency, related to:
Pre & post hospitalization cover for 30 or 60 days and you get reimbursed after submitting the bills
Day care procedures like chemotherapy, dialysis, radiotherapy, colonoscopy etc.
Regular health check-ups
Cost of ambulance service
Critical illnesses like cancer, stroke, paralysis, heart attack, coronary artery disease, chronic lung disease, major organ transplant etc.
Cashless treatment at one of the network hospitals without paying anything upfront for the treatment
It also covers the cost of hospitalization, medicines, medical tests, consultations and inpatient and outpatient treatments. Some comprehensive
health insurance plans also cover oral surgery, routine dental checks, osteopathy, homeopathy, acupuncture and physiotherapy.
Some other reasons to choose our health insurance plan are 100% claim settlement ratio during FY 2019-20, up to 50% cumulative bonus, a network of 8000+ hospitals for cashless treatment, up to INR 1 lakh worth tax benefit under Section 80D and the option to purchase the policy online.
Super Top-Up
The
Super Top-up health plan covers the balance amount payable for medical bills after you have paid the deductible, that is the fixed expense that you have to pay despite having a health policy. You can buy this top-up plan even if you do not have an existing health policy. This plan can help you avoid digging into your savings as it offers a sum insured (SI) between Rs 5lakh and Rs 1.30 crore. Apart from covering for several diseases
Government-specific health insurance
This type of insurance offers coverage for AYUSH (Ayurveda, Yoga, Unani, Siddha and Homeopathy) related hospitalization and treatment expenses. ICU and OT charges, medical fees, room rent and pre & post hospitalization costs are covered by this. Special treatments, cataract treatments, day care procedures and dental treatments are also covered to different extents. You can either buy a family floater or an individual plan with the sum insured ranging from 1 to 5 Lakhs, where you get upto 50% of the sum insured as a cumulative bonus for each claim-free year.
Conclusion
Now that you are aware of the different kinds of health insurance plans available, which one you choose will depend on you and your specific needs. You need to decide as per your preference as to which will be best suited for you. Even though few vaccines are being circulated in the market, no one knows for sure as to when you will finally be able to get vaccinated after the vulnerable groups are taken care of first. Hence, being prepared by purchasing a health insurance policy is your best bet. Also get to know about
Health Gain Policy here.