Medical expenses are sky high these days. The elaborate medical treatment expenses could eat into your savings meant for the future. Health insurance policies in India ensure that you get the required treatment and your pocket is still under control. Having medical insurance in India is important because the coverage helps people cover the risk of financial difficulties in the event of long illness.

Medical expenses are sky high these days, but were never cheap ever. Even a small treatment or an appointment with a doctor might consume a lot of money. Health insurance is a must as it saves money and covers unexpected calamities. Health insurance comes in handy to meet emergencies of severe ailment or accident. Sometimes it is associated with covering disability and custodial needs. Life is unpredictable, insurance can make it safe and secure from bearing huge loss. Health insurance in India is affordable and carries the assurance and freedom from insecurities that threaten life now and then.

Health Insurance Policy for an Individual

Policy that covers the medical expenses of an Individual

Eligibility

The insured needs to be between 3 Months - 76 years of age for new Policy and 3 Months - 86 years for Renewal. Age is calculated as on the date the policy is issued ( It will be age completed on last birthday)

Family Floater Health Insurance Plans

A single policy that secures the hospitalisation expenses of your entire family excluding dependent Parents. The floater health plan covers your entire family under one policy with one sum insured and one premium.

Eligibility

1. Dependent Parents or in-laws can not be covered in this policy.
2. Parents can cover children up to 25 years old in this policy.
3. The insured needs to be between 3 Months - 76 years of age
4. Age is calculated as on the date the policy is issued ( It will be age completed on last birthday)

Extended Family Floater Plan (Option to Include Dependent Parents or in-laws)

A single health insurance policy that secures the hospitalisation expenses of your extended family (up to 6 dependents) including dependent Parents or you can opt for in-laws. The floater health plan covers your entire family under one policy with one sum insured and one premium.

Eligibility

1. You can either cover your Parents or in-laws in this policy
2. Dependent Children up to 25 years can be covered except widow daughter where there is no age limit
3. Primary Insured can't be more than 55 years of old and all the dependent needs to be between 3 Months - 80 years of age
4. Age is calculated as on the date the policy is issued ( It will be age completed on last birthday)

Health Insurance Policy including OPD Expense Coverage

Health Plus policy not only covers the expenses arising due to life threatening/Major Medical Illnesses and Procedures, but also for OPD (Out Patient Department) expenses like reimbursement of cost of medicines, drugs, ambulance charges and dental expenses.

Eligibility

1. The insured needs to be between 5 - 75 years of age
2. Max 2 members (Spouse or child between the age of 5 to 18 years) can be covered in this policy.
3. Age is calculated as on the date the policy is issued ( It will be age completed on last birthday)

Top up Health Insurance Policy

Policy that covers the medical expenses beyond the threshold level/deductible you have chosen. This is a good choice if you want to add additional cover up to Rs. 15 lakhs to you existing Insurance Policy with very less premium or If you are yet to opt for medical insurance, you can buy top-up policy to take medical insurance cover beyond a threshold limit that you can afford.

Eligibility

1. The insured needs to be between 6 - 60 years of age
2. Age is calculated as on the date the policy is issued ( It will be age completed on last birthday)

Critical Care Health Insurance Plan

Critical Care Health Insurance Policy covers the expenses arising due to life threatening/Major Medical Illnesses and Procedures. It also provides cover against accidental death and permanent total disablement. Most of the Insurance Companies offers a lump sum benefit once you are diagnosed with one of the covered critical illness.

Eligibility

1. The insured needs to be between 6 - 60 years of age
2. Age is calculated as on the date the policy is issued ( It will be age completed on last birthday)

Generally, most of the medical insurance products in India have a critical illness cover, though it comes with a waiting period. Also, when you purchase a comprehensive health insurance policy, there is generally a cap on the amount payable for critical illnesses cover. In a separate critical illness plan, the amount payable is lump sum.

The main difference between a critical illness separate plan and a comprehensive plan is that while the first will give you a lump sum payment of your total sum assured in case you get admitted for a critical disease, the latter will pay only the amount spent on the treatment within the sum assured limits.