What are the Types of Health Insurance Plans?

​With the rising costs of medical services in the healthcare industry and the unpredictability of new-age illnesses, the need for different types of health insurance coverage is at its peak today.

However, navigating the health insurance world can be challenging, especially if you have limited knowledge about the types of health insurance plans available in the market. There are various categories of health insurance policies, each catering to the varying needs of individuals.

This guide will explore the 9 health insurance policy types available and the benefits of each to help you choose the best plan for your coverage needs and budget.

Types of Health Insurance Plans: Overview

Here's a brief overview of the different types of health insurance policies available in the market to help you pick the one that suits your needs the best.

Types of Health Insurance Plans: Detailed Insights

Individual Health Insurance

An individual health insurance plan covers only one person. The policyholder can be you, your spouse, your child, or one of your parents. This type of health insurance covers an individual’s medical expenses and provides a broad scope of coverage for various health concerns. It is a beneficial policy for unmarried working individuals who are looking to buy their first health policy.

Benefits:

• Easily customisable

• Affordable 

• Wide coverage

• A wide range of add-ons

Reliance General Insurance offers Reliance Health Infinity Insurance Plan.

Medical Insurance Policy for Family

A medical insurance policy for a family is a family health insurance plan which allows you to include every member of your household under one plan. You can get coverage for your spouse, children, parents, and in-laws under a single health insurance policy and customise it further if required.

Benefits:

• Single plan for all family members

• More economical than individual plans for each member

• Wide coverage 

• A wide range of add-ons

Reliance General Insurance offers Reliance Health Gain Insurance policy

Senior Citizen Health Insurance Policy

Senior citizen health insurance is specifically designed for seniors, such as individuals nearing retirement age. These plans cater to the medical needs of seniors, helping them get the required treatment without exhausting their limited finances. From hospitalisation expenses to home care treatment convenience, these plans offer ample coverage as per need.

Benefits:

• Coverage for pre-existing conditions

• Reduces financial burden on senior citizens with health issues

• Customisation flexibility with a range of add-ons

International Health Insurance

International health insurance is designed to offer extensive benefits for planned medical treatments, ensuring you can access high-quality healthcare services worldwide. 

Enjoy comprehensive international coverage, including hospitalisation and treatment expenses, making it an essential choice for individuals and families seeking crucial medical care abroad. 

This plan also provides coverage in India, including both emergency and planned hospitalisations within the country.

Benefits:

• Comprehensive global coverage

• Coverage for planned treatments and hospitalisations

• Includes emergency evacuation and treatment expenses

• Peace of mind, regardless of location

Reliance General Insurance offers Reliance Health Global Insurance Plan

Maternity Health Insurance Policy

Maternity health insurance policy covers any expenses related to childbirth. Since hospitals charge high rates for delivering a baby, this plan helps you deal with the hefty bills with ample financial support. A maternity plan is offered as a standalone plan or as an add-on to your standard health policy. These plans take care of pre and post-natal treatments for a predefined duration.
Benefits:

• Reduces financial burden for new mothers and pregnant women

• Covers pre- and post-natal treatment expenses 

• Covers for any maternity complication 

• Flexible coverage to suit varying needs and budget 

Reliance General Insurance offers Maternity Add-On with our health insurance plans

Top-Up Health Insurance Policy

A top-up health insurance policy acts as a backup to your existing health insurance​ plan. If you find yourself in a situation where you exhaust your current health plan's coverage, this additional policy will cover any additional medical expenses. With top-up health insurance, you can benefit from an additional layer of financial protection in case of medical emergencies.
Benefits:

• Ensures maximum scope of coverage 

• Lower premiums for purchase when compared to updating existing health plan

• Ample customisation flexibility 

• Increased peace of mind

Reliance General Insurance offers Reliance Health Super Top-Up Insurance

Critical Illness Health Insurance Policy

A critical illness can be a significant threat to your life and burden you with both mental and financial stress. These illnesses require multiple treatments, incurring hefty hospitalisation bills, doctor fees and other related medical expenses. With a critical illness health insurance​ plan, you can tackle the financial burden more seamlessly without draining your expenses. 

Here is a list of a few critical illnesses:

• Open heart replacement/Repair of valves

• Coma of specified severity

• Quadriplegia/Permanent paralysis of all four limbs

• Total blindness

• Kidney failure requiring regular dialysis

Benefits:

• Increased financial security for medical expenses 

• Covers a wide range of treatments for different diseases

• Wider coverage of illnesses

• Helps maintain financial stability, especially for senior citizens 

Reliance General Insurance offers Reliance Critical Illness Insurance

Accidental Health Insurance

An accidental health insurance plan is designed to offer coverage for medical expenses arising from injuries and health issues caused by accidents.

It offers benefits such as hospitalisation, accidental death coverage, loss or disabilities, and more. An accidental health insurance plan is a must-have for every individual, regardless of gender, age or health status.

Benefits:

• Coverage for accidental injuries

• Accidental death benefit

• Compensation for disabilities

• Essential for everyone, irrespective of health status

Reliance General Insurance offers Reliance Personal Accident 360Shield Insurance Plan

Group Health Insurance Policy

Among the types of health insurance plans available, Group Mediclaim Insurance is a health insurance policy that companies and organisations purchase for their employees. It is usually offered to the employees as part of the company's perks and employee benefits. If you work in a company that offers health coverage, you will automatically be covered under it.

Benefits:

• Convenient coverage for employees

• Affordable premiums with employer paying a portion of the total premium

• Employee motivation

• Optional addition of family members under the same group health insurance policy 

Reliance General Insurance offers Reliance Group Mediclaim Insurance Policy

Types of Medical Insurance Add-Ons

In addition to the different types of medicare plans, you can increase your base health insurance policy coverage with a wide range of add-ons in exchange for a little higher premium. 

Let us have a look at the various types of health insurance add-ons below.

How to Choose the Best Health Insurance?

• Assess your needs to understand the kind of coverage you would benefit from and your budget for the same. 

• Check for the available add-ons with different insurers to choose the one that aligns with your requirements.

• Compare different health insurance plans to evaluate and find the most affordable plan as per your needs.

• To make informed decisions, check the deductible amount (out-of-pocket expenses) offered with different types of health insurance plans. 

• Always assess the waiting period for your chosen plan to ensure you are covered for the required critical illness-related medical expenses in time.

• Review the policy inclusions and exclusions before purchasing to help you understand which plan best suits your medical needs.

• Check for the claim settlement process and online reviews for different insurers to make the right choice. 

Conclusion

Once you understand the different types of health insurance plans available, you can easily choose a plan that best aligns with your coverage needs, budget, and lifestyle.

Whether you are a young adult looking to buy your first health insurance or a senior citizen wanting to add a financial safety net to secure their savings, a health insurance plan is the way to go.

Reliance General Insurance offers a wide range of health insurance plans, such as Health Insurance Global, Health Gain Insurance, Health Infinity Insurance, and Specially-Abled Health Insurance.

All our plans offer extensive coverage for medical expenses and come with ample customisation flexibility. Our add-ons allow you to increase your base policy coverage and maximise convenience during medical treatments and hospitalisation.

Need help selecting a health insurance plan? Call us now on +91 22 4890 3009 to find what you need.

Frequently Asked Questions​

1. What is the difference between family and individual health insurance plans?

   With individual plans, only the policyholder is covered for medical emergencies and treatments. However, in a family health insurance plan, the entire family, including spouse, children, and parents, is covered under a single policy with equal coverage for each member.

2. Can you list some key factors that can impact my health insurance premium?

   Some of the factors that can impact your health insurance premium amount include your age, gender, lifestyle, type of plan, medical history, family medical history, location and pre-existing conditions.

3. Are there any tax benefits for health insurance premium payments?