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Types Of Health Insurance Plans
In today’s times medical services have developed and has become approachable to many. Though the facilities are getting better, the costs are on a rapid rise. It becomes really difficult when a person or his loved one meets a sudden health emergency and you are running out of funds. It is advisable to ensure that you are prepared at least financially to deal with such a situation.
Health insurance plans help to be ready for any eventuality. Acting as a protection against high medical expenses, it can deal with the hospital directly, saving you in part from getting involved in these. It provides a security and have many benefits but, which one to choose from the multiple options available in a market is a decision to make.
Major types of plans:
There are various types of plans such as for general well-being, for accidents and for critical illnesses. Others may include for individual, family, parents, senior citizens, and so on, depending on the bank.
1) Basic health insurance: A basic insurance comes with many benefits. It can be applied for an individual or can be a family-floater policy. It ...
... can be applied for a term or one or two years and can be renewed annually. With providing cumulative bonus if you are claim-free, it also provides a health check-up if not claimed for 4 years. The processing time is really shorter, and you also get tax benefits from this.
2) Critical illness: This plan provides a lump sum benefit on the first diagnosis of a critical illness. Every plan has a list of illnesses covered that is to be checked before applying. In addition to providing tax benefits, these do not require prior medical check-up and involve simple procedures to claim without any hassles.
3) Accident protection: The benefits under this generally include physical loss, death, permanent disability, permanent partial disablement, and so on. It provides compensation for accidents occurring in any part of the world. These plans also provide funeral expenses, hospital cash benefits and child education benefits.
Other than these, medical insurance for parents and senior citizens help in meeting sudden expenses. These help in meeting the medical attention needed to meet lifestyle diseases, combat medical inflation, have tax benefits and save big. Most of these insurance plans also come with several benefits that cover beyond diseases. Right nutrition, health-related tips, wellness programs, right kind of diet, fitness regimes and alike help in overall recovery of an individual.
Author bio:
Neha Sharma is a student pursuing her M.Com. She loves to write in her free time. Having spent considerable time researching about various types of insurance plans, she has written about the types of health insurance plans.
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