Types Of Health Insurance Plans in India (2024)

In this polluted and unhealthy environment, people never know they are unhealthy from the inside thinking they are healthy but in reality, they are not and can require serious medical attention which requires a lot of money. In the scene like this, we require a financial cover or financial backup that can support us in handling the expensive medical cost, and this requirement can only be fulfilled with a good health insurance plan which have no alternative. 

This is where comprehensive health insurance plans are a must for the security and financial stability of your family members and yourself. This is where this review of this useful financial tool which has helped numerous people breathe the relief they need in times of need.

What Are Health Insurance Plans?

Health insurance policies reimburse customers who are insured for medical expenses, which include hospitalization, treatments, and similar expenses that result from illnesses or injuries or pay a specific amount to the insured. The health insurance policy provides protection for future medical expenses faced by the policy holder or their family.

Health insurance is an agreement that is between the insurance company and the customer where they to guarantee payment/compensation for any medical costs if the policy holder gets into any unfortunate event in the future, leading to hospitalization.

What Are Health Insurance Plans?

In many instances, insurance companies have connections with a number of hospitals, providing the patients receiving treatment there are not charged.

Types Of Health Insurance Plans in India

The insurance health insurance plans are here to help you in your financial needs, these health insurances help you in your difficult times to keep you stress-free and to keep your mind relaxed.

There are different types of health insurance plans in India in 2024, each serving for its respective purpose, to find out which one you should choose we have a list of the main types of health insurance plans in India:

  • Family Health Insurance
  • Individual Health Insurance
  • Senior Citizen Health Insurance
  • Critical Illness Health Insurance
  • Terminal Illness Health Insurance
  • Top Up Health Insurance
  • Hospital Daily Cash
  • Personal Accident Insurance

Now let’s understand each of these health insurance plans in brief so that you know which health insurance to go for.

Family Health Insurance

Family Health Insurance is for someone who wants to cover the medical expenses of their all family members. These may include the policyholder, wife/husband, children, and sometimes even parents.

The family health insurance covers all comprehensive health care needs of all family members promoting the well being of the whole family and taking care of them by getting them rid of any financial burden during any medical emergency if any.

Individual Health Insurance

Individual Health Insurance provides medical coverage to a single person, providing financial protection to the individual during any medical expense emergencies like illness, injury or accident.

Individual Health Insurance

It allows the individual policy holder health care service without worrying about expensive medical bills from hospitals.

Senior Citizen Health Insurance

With age senior citizens are more prone to health issues and injuries. This is because of reduced immunity and strength with age. Thereby senior citizen health insurance came into play, this health insurance is specifically designed for individual senior citizens who are 65 years of age or more than that.

Senior Citizen Health Insurance

The senior citizen health insurance covers medical issues like age related illness, any chronic diseases, or any other medical expense. The senior citizen health insurance main focus is to give timely medical attention to senior citizens without worrying about expensive medical bills.

Critical Illness Health Insurance

Critical Illness health insurance includes critical illness health benefits that is given to the policy holder upon getting diagnosed with a sever health illness like- cancer, heart attack, or stroke.

Critical Illness health insurance provides a critical illness health benefit meaning the policy holder gets a lump sum amount, to help them with costly medical treatments, and medicine bills to help the policy holder in a difficult times.

Terminal Illness Health Insurance

Terminal Illness Health insurance is a type of health insurance that pays the policy holder some portion of their life insurance early on getting diagnosed with a terminal illness who have a life expectancy of 12 months to 18 months.

To know more about Terminal Illness in Life Insurance

Top Up Health Insurance

Top Up Heath Insurance is like an extra layer of protection which means providing the policy holder additional benefits once their existing health coverage sum gets exhausted.

Top Up Health Insurance is cost effective and provides a solution to the expensive treatment bills making sure the policy holder get complete coverage. Which is helpful because the in the policy holder do not have to purchase a new insurance completely.

Hospital Daily Cash

With this insurance the policy holder gets a fixed daily insured of each day of hospitalization or more than 24 hours. Its a fixed amount that allows the policy holder to manage daily expensive like- transportation, food and accomodation in the hospital.

Here is the list of Hospital Daily Cash that are provided by various policy companies:

Insurance Companies Amount (Rs.) Days
Aditya Birla Activ Assure Diamond 500 For consecutive 5 days
Bajaj Allianz Hospital Cash Benefit Policy 500 to 2500 30 days & 60 days
Bharti AXA Health Insurance Plans 500 to 25000 up to 45 days
Cholamandalam Hospital Cash Insurance Plan 1000 to 3000 20-25 days
Care Health Insurance Plans N/A Up to 30 days
Digit Health Insurance Plans N/A up to 30 days
Future Generali Hospital Cash Plan 500- Rs 9000 30, 60, 90, & 180 days
Plum Health Insurance Not Offered (Fixed Benefit) N/A
Star Health Insurance Not Offered (Fixed Benefit) N/A
PNB Health Insurance Not Offered (Fixed Benefit) N/A

Personal Accident Insurance

Personal accidental insurance is a type of insurance that can be used in providing financial compensation in case of accidental death, injury or dissablity that happened during an accident.

It provides financial support to the policy holder and their family during the misfortunate difficult time.

What’s the reason for health insurance?

Here’s why you should get health insurance:

  • Getting a health insurance will help in protecting by providing financial aid in any unfortunate event that could happen to you or your family in future.
  • Medical costs are growing rapidly, and for those who have inadequate savings, paying for medical treatment becomes a challenge in the event of an emergency
  • Treatments that are cashless are available at network hospitals, and reimbursements are provided from insurance firms in other situations.
  • Health insurance plans cover various types of illness and surgeries, in addition to other elements of medical treatment
  • Health insurance helps keep you and your family free. You only need to pay a low cost for the same coverage.
  • In many instances, you will also be covered against hospitalization charges and ambulance charges as well as consultations, medicines, and tests, as well as post-hospitalization expenses.
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