I choose Health Insurance as I value My Health…And You??
Individual Health Insurance.
The term ‘Health Insurance’ relates to a type of insurance that essentially covers your medical expenses. A health insurance policy like other policies is a contract between an insurer and an individual / group in which the insurer agrees to provide specified health insurance cover at a particular “premium” subject to terms and conditions specified in the policy.
What a Health Insurance policy would normally cover
A Health Insurance Policy would normally cover expenses reasonably and necessarily incurred under the following heads in respect of each insured person subject to overall ceiling of sum insured (for all claims during one policy period).
- Room, Boarding expenses
- Nursing expenses
- Fees of surgeon, anesthetist, physician, consultants, specialists
- Anesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines, drugs, diagnostic materials, X-ray, Dialysis, chemotherapy, Radio therapy, cost of pace maker, Artificial limbs, cost or organs and similar expenses.
Family Health Insurance
- Family Floater is one single policy that takes care of the hospitalization expenses of your entire family.
- The policy has one single sum insured, which can be utilized by any/all insured persons in any proportion or amount subject to maximum of overall limit of the policy sum insured.
- Quite often Family floater plans are better than buying separate individual policies.
- Family Floater plans take care of all the medical expenses during sudden illness, surgeries and accidents.
Critical Illness Insurance
- Critical illness cover is another smart way of getting your money’s worth.
- This will cushion the blow if you are suddenly diagnosed with a major illness.
- One advantage of a critical illness cover is that you get the money when you are diagnosed with the disease, and not based on the hospitalization and treatment.
- Critical illness cover serves as a substitute for the income you lose in the process.
Cashless Health Insurance
- Insurance companies have tie-up arrangements with several hospitals all over the country as part of their network.
- Under a health insurance policy offering cashless facility, a policyholder can take treatment in any of the network hospitals without having to pay the hospital bills as the payment is made to the hospital directly by the Third Party Administrator, on behalf of the insurance company.
- However, expenses beyond the limits or sub-limits allowed by the insurance policy or expenses not covered under the policy have to be settled by you directly with the hospital.
- Cashless facility, however, is not available if you take treatment in a hospital that is not in the network.
Senior Citizens Health Insurance
- A sudden medical emergency can result in a financial crisis. To avoid this, it is prudent to take a comprehensive senior citizen Medi-claim insurance policy.
- Senior Citizen health insurance plan is a necessity especially for the people at retirement age.
- According to the new guidelines by IRDA, every health insurance provider has to offer coverage to individuals,' up to the age of 65 years. These new guidelines will not only help individuals get coverage at later stages of their life, but will also allow them to shift their health policy to other insurers, in case they are not satisfied with their current health insurance provider.
- There is no dearth of insurance providers for senior citizens. However, the challenge is to choose the right one.