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What is health insurance? | Health insurance | insurance

Health insurance

Health insurance

Health insurance? How to invest in a health insurance plan? What are the coverage guidelines? What are the insurance benefits? Those new to the insurance field are usually seen looking for answers to this question. But before going into details, let's get a basic idea about health insurance.

What is health insurance?

Accidents, illnesses or disabilities are never reported. These sudden health problems can cause you a huge financial loss. Therefore, it is recommended to save in advance. But, how does anyone do that? In this case insurance policy comes A type of insurance coverage, health insurance gives you compensation for various medical and surgical expenses. A coverage insurance company provided by it to protect you from unforeseen medical expenses that may occur in the future. As the cost of healthcare increases, so does the need for health insurance plans. Health insurance claims can be settled in two ways. It is either paid to the insurer or paid directly to the care provider. Also, the benefits of health insurance premiums are tax-free.

Types of health insurance

The health insurance company offers a variety of policies. Some of them are listed below. Take a look!

Serious illness

This insurance covers the risk of any serious illness. It protects you from any critical illness in the future. With the premium you pay for this insurance you will get a cover for a certain amount of insurance. In the case of illness, the insurance company claims up to the insured value. For example, you buy a health policy for which you pay a premium of 10,000 10,000 and the coverage you receive is, 10,00,000. Thus, when you suffer a serious illness in the future, the insurance company will cover your medical expenses up to a guaranteed amount of, 10,00,000. Some of the more complex illnesses covered by insurance companies include cancer, major organ transplants, stroke, first heart attack, kidney failure, paralysis, multiple sclerosis, etc.

Medical insurance

It is a type of insurance that is paid by the insurer for hospitalization charges. Also, you or your family members are reimbursed for the medicines or surgery that you have paid for the diseases covered by this insurance. These policies are commonly known as "medical policy".

Individual Mediclaim

This is one of the simplest types of health policies. Under the individual Medicellium policy, you will be reimbursed for hospitalization expenses up to a certain guaranteed limit. Let's understand with an example. If there are three members of your family under this policy and each of you gets a separate cover of Rs 100,000, then the three policies are different. Each of you can claim a separate INR 100,000 if needed

Family floater plans

Under the floating plan of the subordinate family, the collective limit will cover the medical expenses of the whole family or the individual under it. Let's understand with an example that the premium offered under this plan is comparatively less than that offered under personal medical plans. Suppose a family of four receives a family floater plan and is granted a claim of ১০ 100,000. Now, anyone from that family can claim up to Rs 10,00,000 as medical claim. Also, if a person claims 4 400,000 in a given year, the amount of Mediclim for other family members will be reduced to, 600,000 for that year. From the following year, the amount is refreshed again at 10,00,000 ref

Unit linked health plan

Unit Linked Plans or ULIPs are plans that are linked to investments where an individual can earn an income. So, when you choose a unit linked health plan you associate a health insurance with that investment. With this insurance, you will earn a return at the end of the insurance term depending on the market performance. Although these plans are expensive, it is recommended that they have knowledge of the sound market.

Group Medical

Group Health Policy or Group Mediclime protects regular employees and their dependents under the policy in case of hospitalization due to any specific disease or injury.

Health insurance company in India

Now that you have different types of insurance policies you need to be aware of the popular health insurance companies in India. Some of these are mentioned below.


  1. New India Assurance
  2. Oriental Insurance
  3. United India Insurance
  4. Max Bupa Insurance
  5. Apollo Munich
  6. Star Health and Allied Insurance
  7. ICICI Lombard Insurance
  8. Reliance Health Insurance
  9. Bajaj Allianz General Insurance
  10. TATA AIG Health Insurance


Indeed, health is an essential asset wealth and it is important to take out health insurance to maintain a healthy life. This creates a safety net in case of unforeseen medical expenses ever but it is advisable to choose health policy wisely. Don’t just look for low-premium plans, get to know the plans that best suit you, the claim ratio (insurer) and the claim process before you buy. Then you a What are you waiting for? Get health insurance now! Insure your health for a better future.


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