Types of Health Insurance Plans

Health is a great blessing available to the modern day world. As a result, everyone needs health insurance. However, to ensure you get the best health cover, you first need to understand how health insurance works and what factors constitute the ideal health cover. You must not pick up the first plan that come across as unless the features work for you, you won’t be able to draw the benefits from the insurance cover. Take a look at this article to know more about the types of health insurance and how you can find the right plan and maintain the policy.

Understanding health insurance

Let us start off by understanding the various types of health insurance plans available in India.

1. Hospitalisation plans: These are the most common types of health plans available. These plans cover your medical expenses when you get admitted in a hospital for an illness or an injury. It also includes pre and post hospitalization costs, ambulance charges, etc.
2. Family floater plans: The family floater plans cover all the members of the family under a common health insurance umbrella. A single premium is paid for the plan but all the members of the family are covered.
3. Senior citizen plans: As the name suggests, these health insurance plans are specifically designed for people above the age of 60. Since the chances of making claims are higher, these plans are relatively more expensive than the other health insurance plans.
4. Critical illness plans: This is a very handy type of health insurance where you get covered for a critical illness such as cancer, stroke or heart failure. If you are diagnosed with any of the listed critical illnesses, the insurance provider pays you a lump sum amount of money that you are free to use in any way you wish.
5. Maternity plans: These plans are specifically designed to cover the maternity and childbirth expenses. In most cases, these plans come with a waiting period of two to three years.
6. Hospital daily cash plans: This type of health insurance will offer certain pre-fixed amount per day of your hospitalization.

These are the most common types of health insurance plans. Choose a type of plan that you feel will address your health insurance needs in the most ideal manner.

Best Health Insurance

Now, let us understand  how you can find the best health insurance plans. We have some tips for you:

• Review your requirements: First and foremost, you need to review your own requirements. Everyone has different health insurance needs. Therefore, you have to do the math and see what kinds of covers you need and for how many people in the family. Once you are clear about what exactly you need, it will be easier for you to find the best health insurance
• Compare the available plans: It is a great idea to compare the available options before you buy the ideal health insurance plan. Comparing helps you find the most suitable plan available at the best price. It is very easy to compare as well. You can do it online in a matter of a few minutes. So never buy a health insurance plan without running a comparison first. You may just log on to Coverfox.com, an online insurance broker and get the best health insurance quotes at competitive rates!
• Insurer’s reputation: To get the most out of your health insurance cover, you must choose to buy your plan from a good insurance provider. Do some research on your choseninsurer. First and foremost, see what their claim settlement ratio is. Always look for the highest possible claim settlement ratio. Then, look at what others have to say about the insurer’s post-sale services. If you are happy with the results, go ahead and get a good health cover from the insurance provider.

Renew your health insurance timely

Health problems often stem up in an uncalled manner. So you never know when you will need to make a health insurance claim. As a result, you should keep your policy running at all times to get the highest possible benefits out of the plan, renew your plan on time. A lapsed policy won’t pay the claim, even if it has lapsed by just one day! So be disciplined with the premium payments and renewals.

Conclusion

Keep the points and tips mentioned above in mind and get the best health insurance plan for yourself. Once that is done, you will be able to protect your and your family’s health and fitness by being able to afford the best possible healthcare facilities when a need arises.