Coverage provided in every Health Insurance Plan

There are few things that everyone needs to know before buying a health insurance plans. Some of the basic features or benefits that the majority of the health insurance plans offer in India are as:

Cashless Hospitalization

If you go for medical treatment from any of the network hospitals associated with your insurer, you don't have to pay a single penny out of your pocket in case of a hospitalization or surgery and the entire hospital bill is cleared directly by the Insurance Company.

Pre & Post Hospitalization Expenses

Majority of the health insurance companies in India cover pre and post hospitalization charges up to the period of 60 days, depending on the insurance plans purchased. Generally, the health insurers offer coverage for pre-hospitalizing expenses for 30 days and 60 days in case of post-hospitalization expenses.

Online Policy Renewal

After completion of the policy year, you can easily renew your mediclaim policy online. You can do this easily by going to the official website of your insurance provider.

All day care treatments

Some of the health insurers only accept your claim if you have spent at least 24 hours in the hospital. However, there are some medical insurance plans that also cover day care treatments and don’t ask you to spend a minimum number of hours at the hospital in order to get the claims benefits.

Policy Portability Feature

If you want to upgrade or improve your mediclaim insurance policy or if you wish to switch your health insurance company without losing the benefits of your current plan, then you can choose the portability feature. You can easily port your health insurance plan but only at the time of its renewal. You have to initiate the procedure of portability minimum 45 days prior to the expiration date of your existing plan.

Ambulance Cover

The main benefit of having Ambulance Cover is that it insures you against the costs of ambulance services and transport upto a certain limit provided by the insurance company. Some health insurers cover the ambulance expenses related to ambulance services either in the emergency or non-emergency situations.

Tax Benefit

Premium paid by any mode other than by cash for Health insurance is eligible for relief under Section 80D of the Income Tax Act.

Preventive Health Checkup

After a particular age, everyone needs to go through regular health check-ups through various tests. These can turn out to be very heavy on the pocket. So, make sure that your insurance plan also offers preventive health check-up facility every year. Free health checkup is also provided by some insurers based on your previous NCBs (No Claim Bonus).

Free look Period

The grace period is basically offered so that you can pay the premium within this period. Most of the health insurance companies offer a free look period of 15 days from the date of receipt of the policy.

Claim Settlement

Every insurance company in India has its own process to settle claims. However, it differs from one organization to another. If you want to have a seamless claim approval, you must be familiar with the claim settlement process of your health insurer. You must also aware of the documents that are required in order to file a cashless claim.

Different types of Health Insurance Plans

There are several types of health insurance plans offered by diverse health insurance companies in India. Some of the most common health insurance plans that are offered by the majority of the insurers are:

Individual Health Insurance

As the name suggests, this is a health insurance plan that covers the individual purchasing the policy against various critical and regular diseases.

Family Health Insurance

If you wish to insure yourself and your family members under a single cover, this is the best plan to buy. This plan is also known as a family floater policy. In general, under a family floater plan, a family of 4 (2 adults and 2 dependent children) is covered.

Senior Citizen Insurance

This particular health insurance plan has been introduced to people ranging in the age group of 55 years to 80 years, providing wide health insurance coverage from various risks that come with old age.

Critical Illness Insurance

If you are diagnosed with some critical illness such as cancer, paralysis, kidney failure, heart attack, etc., then buying this health insurance plan is a wise choice. This insurance plan acts as a great add-on to the primary insurance plan which may not cover such critical diseases. The premium applicable to these types of policies is high as the medical expenses of these treatments are very high.

Maternity Insurance

It is very important to check if the health insurance provides maternity benefits or not. To provide uninterrupted medical services to pregnant women, this mediclaim policy is introduced. Some plans under this policy offer coverage for the mother as well as their new-born babies.