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Types of Health Insurance Plan, Health Insurance Policy Type, Types of Health Insurance in usa, All Type of Insurance, Health Insurance Features, Health Policy Compare, Features of Health Insurance.
Taking a health insurance policy from a reputed health insurance company is a must for all, rich and poor, young as well as old, male and female.
It saves you from financial burden in case of any disease. You can easily file a health insurance claim and get reimbursed for your medical expenses.
About Health Insurance :
Due to increasing pollution in the cities, respiratory diseases are increasing. 61% of people are hospitalized because of their sedentary or chaotic lifestyle. The number of cancer patients among the youth is increasing day by day. Due to inflation in the medical field, treatment is becoming expensive and out of reach. Mental illnesses are increasing very fast in India. Heart diseases have killed a lot more people in India than other diseases.
Whenever a claim situation arises due to a medical emergency, the first thing the policyholder has to do is find out whether the hospital where the treatment is being done has a cashless facility or not. If that hospital does not have cashless facility, then the policyholder has to claim reimbursement after paying the hospital bills.
What is Healthcare Insurance?
Health insurance is like your true friend who stands by you in every difficult situation. Best health insurance plan or medical insurance is your friend which is there to help you financially at the time of any illness or accident.
Health insurance promises to provide you with financial support (related to an accident or illness) from the time you reach the hospital until you leave the hospital. Along with this, you also get assistance for annual health check-up, critical illness treatment and maternity expenses as per the health insurance plan chosen by you.
Statistics from the Central Health Department show that in the event of a medical emergency, 80 percent of the cases get spoiled due to the problem of money. In the event of an accident, not only does money have to be spent on treatment, but your earning capacity also gets reduced. Accordingly, the person causing the accident gets a double whammy.
In such a situation, health insurance proves to be helpful for you. Dipali Sen, a certified financial planner and founder of Srijan Financial, said, For health insurance, you can manage your medical expenses by paying small premiums at regular intervals. This is a necessity in today’s times.
What are the Benefits of Health Insurance?
Taking health insurance has become a necessity in view of the increasing cases of serious health problems and costly medical services. For this you have to pay some premium at regular intervals, but you are saved from stress and lot of financial hassles during medical emergency. That is, you will not have to face financial compulsion to get treatment in case of emergency.
Health Insurance Here if it is asked what are the disadvantages of health insurance, then the answer will be very short. But if we talk about the benefits of health insurance, then this list can be very long. So here we are going to tell you five main advantages of medical health insurance.
- Your savings are saved in times of disaster that befalls you and your family.
- If you are young or a senior citizen, you can get the benefit of saving in income tax by taking health insurance
- Protect yourself from serious diseases in future through annual health check-up provided in the health insurance policy.
- Leave worrying about money at the time of illness, get yourself better treatment.
- In today’s time, many young people i.e. people below 40 years of age are also falling in the grip of cancer and heart related diseases. Medical health insurance provides you financial assistance to fight against such serious diseases.
Types of Health Insurance Plan :
Medical emergencies are never reported and it is likely that large hospital bills, treatment expenses and other such expenses will put you at absolute risk. Plus, it’s nearly impossible to avoid a health emergency or the expenses that come with it.
But a health insurance plan can be helpful in tough times as you are not required to pay anything out of your own pocket. Therefore, whether you are in your early 20s or late 30s, it is important to buy a health insurance policy as soon as possible.
Health care plans have become much broader than basic facilities over the years, and they now have a plethora of options. Due to which finding the right health policy can be somewhat challenging, but this guide is giving you guidance on the types of health insurance plans and why you need them.
Here are the most common types of health insurance policies :
- Personal Health Insurance.
- Family Floater Health Insurance.
- Health Insurance for Senior Citizens.
- Cancer Health Care Plan.
- Health Insurance for Specific Illness.
- Maternity Health Insurance.
Personal Health Insurance : An individual health plan is common for most new policy buyers, under which the sum assured can be availed by only one individual. Individual health insurance covers hospitalization, surgery and medical treatment of the insured policyholder. Such personalized health plans are an excellent option for all as they secure both your future and finances.
Family Floater Health Insurance : Family floater plans are similar to individual health insurance, but there is one important difference. As mentioned above, in individual policies, the Sum Assured is fully available to an individual. Whereas in family plans, the coverage amount is shared by all the family members, and you have to pay only one premium. Such inclusive plans can be bought by anyone who wishes to buy a health insurance plan for their spouse, children or even parents.
Health Insurance for Senior Citizens : As you can probably tell from the name, senior citizen health insurance is designed for older persons above the age of 60 years. Health insurance for senior citizens covers age-related diseases, conditions, ailments and pays for various other medical treatments like AYUSH and also covers annual health check-ups. A senior citizen health plan can be a great gift or investment for one’s parents as it ensures both financial and health security during old age.
Health Insurance Policies :
Cancer Health Care Plan : Cancer health plans, also known as critical illness health insurance, are designed to provide adequate medical coverage for cancer patients, including chemotherapy, radiation and surgery, among others. Data from the International Agency for Research on Cancer’s Globocan Project suggests that the cancer burden in India could double in the next 20 years, leading to a sharp rise in cancer mortality.
Health Insurance for Specific Illness : Most health care plans do not provide coverage for pre-existing conditions, be it diabetes, hypertension or high blood pressure. However, those who want medical cover for such pre-existing diseases can opt for disease-specific health insurance. An added advantage of such a plan is that it can be easily customized or personalized based on the needs of the policy holder.
Maternity Health Insurance : Like pre-existing conditions, maternity costs are usually not covered by most health plans. Unfortunately, the costs of pregnancy and childbirth are also rising, which is why those planning to experience the journey of motherhood should invest in maternity health insurance. Doing so will free you from any financial stress while focusing on taking care of yourself and your baby.
Features of Health Insurance :
Easy Online Process : The entire process from buying health insurance to making a claim is simple, paperless, quick and hassle free. We don’t even ask you for any hard copy for claim.
Additional Sum Assured : Specifically, in case of accidental hospitalization due to accident and critical illness, our health insurance company will give you an additional sum insured at zero cost.
Know Your Age Co-payment : Not all our plans have age-wise co-payment. This means that you do not need to pay anything out of your pocket while claiming your health insurance policy.
No Restrictions on Room Rent : everyone has different preferences and we understand that. And that is why, the hospital does not impose any restriction on room rent. You can book a room of your choice.
Double Sum Assured : If you have claimed your Sum Assured once and unfortunately you need it again in the same year, we will make it available again for you.
Cumulative Bonus : You will be given annual cumulative bonus for healthy life and no further claim will be made.
Get Treatment at Any Hospital : We are associated with 6400+ hospitals in India and you can make a cashless claim at any of these hospitals. Otherwise, you can avail the reimbursement facility and get treatment at other hospitals.
Why should one take a health insurance policy?
We must take a health insurance policy because health insurance policy works to make our present as well as future. Everyone should have a health insurance policy, regardless of the type. Let us tell you how many benefits a health insurance policy has for us.
Protects Your Health : In the health insurance plan, you are also given the facility of health checkup every year. By which you can avoid falling prey to serious diseases.
Addresses Your Concerns : How do you feel if someone is totally dedicated to helping you through your tough times? Some such are the plans of our health insurance company. In difficult times, they work to make you financially strong.
Covers Medical Expenses : Health insurance covers your hospitalization expenses during difficult health conditions like accidents and other illnesses. These expenses are huge and can take a toll on your bank balance.
Helps You Make Smart Investments : Health insurance not only protects your health but also increases your tax benefits. Along with this, you also get many benefits like Cumulative Bonus, which is given to you as a reward for not making a health claim in the policy year.
Provides Financial Assistance for Critical Illness : In today’s time, very young people i.e. people below 40 years of age are also falling in the grip of cancer and heart related diseases. Medical health insurance provides you financial assistance to fight against such serious diseases.
Help Save Tax : As per Section 80D of the Income Tax Department, any person who buys medical health insurance for himself or his parents can save on his tax by paying the insurance premium.
What age Should I buy Health Insurance?
Health insurance should be done at a young age. The younger you are, the lower your initial and further premiums. Also being young you will easily pass the waiting period of health insurance plans. So these are the two main reasons which make sure that being early is very beneficial. So don’t wait for your old age.
The second thing is that diseases and accidents are never seen, nor are they only for the elderly, the youth are also easily affected by it. Being young you are not so capable, in times like these it can be very difficult to bear the huge cost of hospitals and medicines if there is no health diversification plan.
Customized Health Insurance for all age Groups :
Health Insurance for Your Family : When you want to play the role of guardian angel not only for yourself but also for your dear family, Digit is right for you. Exclusive benefits available on our health insurance plans like recharge of sum insured, zone upgrade etc are ready to help your small or big family financially every step of the way.
Health Insurance for the Elderly in the Household : Whether you need to take care of yourself or the elderly at home, our senior citizen health insurance plans are ready to help you in any situation. Our medical health insurance plans come with many other benefits like ‘AYUSH’ and medical facility at home which are designed keeping in mind the health of your aging parents. After all, who will serve and protect them?
Health Insurance for Working Youth : Health insurance plans are well designed for the youth and especially the youth living in nuclear family. In this, an additional sum insured is paid to you in case of other critical illnesses including accident insurance and maternity benefits. Choosing the right health insurance company helps you protect your bank balance during these tough times.
Best Health Insurance Company :
There are different types of health insurance policies available in the market. The health quotes, co-pays, coverage limits and diseases covered are different for each of them. Hence, it is advisable to consider the list of health insurance companies while choosing a medical insurance plan. For your convenience, we have listed some health insurance companies.
- National Insurance Company Limited
- New India Assurance Company Limited
- Oriental Insurance Company Limited
- Max Bupa Health Insurance Company Limited
- Cigna TTK Health Insurance Company Limited
- Apollo Munich Health Insurance Company Limited
- Star Health & Allied Insurance Company Limited
- ICICI Lombard General Insurance Company Limited
- Religare Health Insurance Company Limited
- Bajaj Allianz General Insurance Company Limited
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Health Insurance FAQs :
We must take a health insurance policy because health insurance policy works to make our present as well as future. Everyone should have a health insurance policy, regardless of the type.
Protects Your Health, Addresses Your Concerns, Covers Medical Expenses, Helps You Make Smart Investments, Provides Financial Assistance for Critical Illness, Help Save Tax.
Personal Health Insurance, Family Floater Health Insurance, Health Insurance for Senior Citizens, Cancer Health Care Plan, Health Insurance for Specific Illness, Maternity Health Insurance.
Easy Online Process, Additional Sum Assured, Know Your Age Co-payment, No Restrictions on Room Rent, Double Sum Assured, Cumulative Bonus, Get Treatment at Any Hospital.