Having a thorough understanding of health insurance policies is as much essential as choosing the right plan for you. This leads you to know about the plans offered by various companies. Depending on benefits, health insurance policies are categorised into a few groups. There are so many things involved in a health plan that includes fixed benefits plan, critical illness plan and so on. The content delves deeper in describing those health insurance types so that when you plan to buy insurance, it must give you the desired benefits.
Health insurance plan based on reimbursement policy:
This type of health insurance is more known as ‘mediclaim’ among people. The number of policy holders of such plan is growing with time due to its easy definitions and simpler terms and conditions. This health plan allows you to reimburse the expenses spent in hospitalisation and in the pre and post hospitalisation treatment. Such plan comes up with an annual limit which you can incur in a given policy year and It is renewable every year, though. It, too, includes a broad area where you can get either an individual policy or a family plan.
What is individual health insurance plan?
As the name signifies, this plan covers expenses of an individual. Only a single person is insured under this plan to reimburse the money for treatment. To get the benefits of the plan for your family member, you need to choose a different sum insured for each family member.
Family floater insurance plan:
It covers every member of your family who is enlisted to get the benefits under this health plan. Reliable and helpful, it works as an umbrella that secures you family member when a worse situation comes. Under this plan, a fixed sum is insured for family members and that can be incurred for an individual or all during the tenure of the policy. The reimbursement can be claimed for one or more than one claims as per the terms and conditions.
Fixed benefits hospitalisation plan:
The plan ensures that you will get a fixed amount when a pre-defined illness and disease occurs or in case of hospitalisation. This plan comes up with certain terms and conditions that you need to know before applying for this.
It partly covers the expenses spent in hospitalisation or in a diagnosis process of a predefined illness or disease.
This plan is only applicable to the issues you stated earlier while buying this plan. It does not give a complete coverage for all your illnesses and sudden, severe health complications.
This plan can be treated as an additional plan to your already existed health insurance policies.
Such policy is categorised into critical illness plans and surgical benefits plans.
Health insurance covers a broad area, and having knowledge about the types of plans takes you one step ahead to make your future secured. You need to invest a good amount of time to find out which one suits your needs and choose the plan accordingly.