Know everything about different types of health insurance

In the frantic world of the 21st century, the workday extends beyond the agreed upon 9 to 5 timings, our food intake exceeds calorie charts and consumer habits are centred around buying stuff we don’t need, with money we don’t have! During this age of excess, we continuously struggle to keep generating monetary gains, all the while not realizing that our health is the biggest wealth that can come our way.

Such lifestyles naturally result in a whole host of health complications ranging from strokes to cardiac and pulmonary diseases. The diagnosis, treatment and subsequent recovery end up burning a huge hole in your wallet and getting in the way of regular life. You can never predict when a disease will rear its ugly head and so having health insurance becomes necessary to remain protected from unexpected health complications and associated expenses.

Types of health insurance

Insurance companies offer many different types of health insurance in India to cover different sections of the demographic. Read on to know more about the types of health insurance policies.

  • Individual health insurance: This policy provides coverage for expenses incurred by an individual such as diagnosis, treatment, hospitalization and ambulance services in the event of a disease or accident.
  • Family health insurance: Comprehensive coverage for your spouse and children against most widespread health complications under 3 categories:
    • Family without kids – 2 Adults
    • Family with 1 kid – 2 Adults + 1 Child
    • Family with 2 kids – 2 Adults + 2 Child
  • Parents’ health insurance: This health insurance policy is for the benefit of the parents of the insured.
  • Senior Citizen health insurance: This policy type covers people who are 60 years and older to ensure peace of mind in old age.
  • Group Mediclaim: This policy provides protective health coverage for large groups such as institutions and organizations with significant discounts on premium and focused coverage plans.

Coverage

The coverage for the different types of health insurance plans do not vary drastically. Expenses incurred due to in-patient treatment, hospitalization costs incurred 60 days prior to hospital admission and 90 days post discharge, day care treatment, domiciliary treatment, organ donor treatment, non-allopathic treatment under AYUSH and emergency ambulance expenses are all covered. Pre-existing conditions will require a 3 window post purchase for subsequent coverage. In the event of critical illnesses such as heart attack, multiple sclerosis, kidney failure, etc., critical illness riders provide lump sum reimbursement of insured amount on 30 days of survival post diagnosis.

The ERGO Edge!

HDFC ERGO offers the best types of health insurance plans such as my:health Medisure Super Top Ups that allow you to tailor your policy. With a network of 6000+ hospitals, 5% cumulative bonus at the end of claim-free year and ready hospital cash, HDFC ERGO is the undeniable option for all your health insurance needs!

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