What are the Kinds of Health Insurance Plans Available in India?
Most medical situations tend to come up extremely unexpectedly, with next to no prior notice, and that can put a considerable strain on any family’s finances or morale. Medical costs, if the need to fill them arises, can take a huge chunk out of your finances. With the ever-growing costs of hospital bills and the constant stress of living in a pandemic, being financially prepared for any situation is the one thing that can offer some solace. In trying times like these, investing in a health policy will prove to be the best course of action as it helps you cover the medical costs of a number of different situations.
A health policy is a type of insurance that covers the medical costs of the insured person, pertaining to doctor consultation fees, medicines, treatment fees, etc. Not only does this offer you stability in a difficult situation, but it is also the safety net everyone needs to keep them afloat. Here are the different types of health policy options you can take a look at:
- Individual Plans: Handling a number of expenses together is difficult for any individual, and medical bills can just add to the stress. Individual health policies are meant for a single individual, covering their hospitalisation costs only.
- Family Plans: These plans are ideal for families as it offers coverage to every member under a single plan. In a family health policy, the sum assured is equally divided among the family members, covering either partial or complete medical costs of any member that falls ill.
- Critical Illness Plans: Different types of illnesses have treatments that range across a wide expense range. Critical illness plans are designed to specifically provide for illnesses such as heart attacks, cancer, strokes, organ transplants and more.
- Senior Citizen Plans: Old age is a time when one often tends to go through a lot of issues, the majority of them being medical. Consequently, it’s important for senior citizens to be insured under a healthy policy designed to cater to their needs. Senior citizen plans do just that and cover the costs of citizens above the age of 60.
- Personal Accident: With an increasing number of road accidents taking place, especially during the monsoon, this plan will help many out. Personal accident insurance plans cover the hospitalisation costs in case of any motor accidents.
- Maternity Plans: Pregnancy is another period in any woman’s life that takes up a lot of medical expenditure. Maternity health plans cover the postnatal and prenatal finances pertaining to the medical care of the mother. Many plans also extend the insurance to the newborn for a certain duration.
Along with these different health policies, you can also invest in others such as Unit Linked Insurance Plans (ULIP), hospitalisation cash benefit plans and more. Investing in one of these is the best way to make sure that if the need arises, you are prepared to help yourself as well as your loved ones. Take a look at the different health policy options offered by ICICI, one of the most trusted health insurance companies in India.