What You Will Get Under Health Insurance?

To lead a decent life and secure the well being of your family, you need to stay healthy. It is never too late to begin the process of financial planning to protect your future and as well as that of your dependents. With the unpredictability of the future events and the burgeoning cost of health care in the country, you need to factor in the role of health insurance as a part and parcel of your long-term financial goals.

What is Health Insurance?

A Health Insurance Plan is a contract between you and the insurance provider/company who pays for your medical expenses against a premium paid by you. The coverage and features of health insurance plans vary tremendously, but you have to make an informed choice in consonance with your requirements and afford ability. Take help of online medical insurance comparison sites to get the best plan according to your needs.

Types of Health Insurance Policies:

Apart from the traditional health insurance plans, you can choose products like family floater plan, top-up plans, critical illness plans, hospital cash etc. Health insurance plans can be broadly classified into:

  • Individual Health Insurance Plan
  • Family Floater Health Insurance Plan
  • Group Health Insurance Plan.

Primary Benefits of Health Insurance:

  • Cashless Facility: It is a major benefit provided to you where you enjoy cashless facility for treatment in an approved hospital. The insurance company clears the hospital bill directly.
  • Reimbursement of Hospital Expenses: You may seek reimbursement from the insurance company for the amount of expenses incurred for your treatment in the hospital.
  • Coverage of pre and post hospitalization expenses: Most policies now feature for payment of 30 days for both pre and post hospitalization expenses.
  • No Claim Bonus: Some insurance companies are coming up with incentives to you with “No Claims Bonus” to retain its clientèle. This at times goes up to as high as 100% of sum insured.
  • OPD Expenses: Most of the plans mandate that you have to be hospitalized for a minimum period of 24 hours in order to be eligible for claims. However, some insurance companies are offering facility for treatment in the OPD as valid.
  • Day-Care Expenses: With technological advances in medical science, many procedures can be performed with a day’s hospitalization. Most of the policies now cater to the treatment of specified diseases in Day-Care.
  • Restoration: This is a facility where the sum insured is restored to the extent it is exhausted.
  • Sub-limits: Most policies have sub-limits attached to the policy in respect of room rent etc. which you need to carefully study before you buy a policy for better management.
  • Pre-Existing Disease Cover: If you are afflicted with a disease before buying a plan, full coverage is normally extended to you after a gestation period of 2 to 4 years as the case may be.
  • Senior Citizen Health Insurance:

The coverage and protection are provided for issues that afflict you in old age. The IRDA has mandated that entry into a plan has to be provided up to 65 years of age.

  • Maternity Health Insurance:

This plan targets women in need of maternity care. The coverage includes pre and postnatal care, delivery of baby both normal and through the caesarian section and some other additional expenses like an ambulance.

  • Hospital daily cash benefit Plan:

In this plan you are provided with a defined sum of money during your hospitalization for a fixed period.

  • Critical Illness Plan:

This is a benefit based policy where you are paid a lump sum or staggered amount on diagnosis of covered critical illnesses like a heart attack or a stroke.

  • Proactive Plans:

These plans are designed for the Indian market to provide coverage based on factors associated with chronic conditions.

  • Disease-Specific Special Plans:

The needs of specific diseases like Cancer, Dengue are covered under these plans.

  • Tenure of Policy: Generally the insurance cover is provided from year to year with renewals. However, now there are policies that offer cover for several years.
  • Portability: A new feature that should attract you is portability of your policy to ensure that you receive the highest quality of service.
  • Tax Exemptions: You are provided tax exemptions for the amount of premium paid under Section 80D of the Income Tax Act, 1961 amounting to a maximum of Rs.25000 or Rs.50000 in case of a senior citizen. If you buy Health Insurance for your parents, you get exemptions of similar amounts additionally.


In this day of rising medical costs, it is worthwhile to buy a suitable health insurance plans to protect you and your family from the potential health threats in the future. If you need a best insurance policy you can come PolicyX.com and compare health insurance plans of many companies. PolicyX is a friendly portal designed to assist you to make an informed choice.