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9th March 2016, 11:55 AM
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Join Date: May 2012
Re: Types Of Health Insurance Policies In India

I will help you here to get the information about the types of Health Insurance Policies in India so that you can have idea about it.

Here are the types of Health Insurance policies



Hospitalization
Hospitalization plans are indemnity plans that pay cost of hospitalization and medical costs of the insured subject to the sum insured.

These policies do not normally pay any cash benefit. In addition to hospitalization benefits, specific policies may offer a number of additional benefits like maternity and newborn coverage, day care procedures for specific procedures, pre- and post-hospitalization care, domiciliary benefits where patients cannot be moved to a hospital, daily cash, and convalescence.

Hospital daily cash benefit plans:
Daily cash benefits is a defined benefit policy that pays a defined sum of money for every day of hospitalization.

The payments for a defined number of days in the policy year and may be subject to a deductible of few days.

Critical illness plans:
These are benefit based policies which pay a lumpsum (fixed) benefit amount on diagnosis of covered critical lllness and medical prodcedures.

These illness are generally specific and high severity and low fequency in nature that cost high when compared to day to day medical / treatment need. eg heart attack, cancer, stroke etc

Other information about the insurance
Payment options
Direct Payment or Cashless Facility: Under this facility, the person does not need to pay the hospital as the insurer pays directly to the hospital.

Cost and duration
Policy price range: Insurance companies offer health insurance from a sum insured of Rs. 5000/-[7] for micro-insurance policies to a higher sum insured of Rs. 50 lacs and above. The common insurance policies for health insurance are usually available from Rs. 1 lac to Rs. 5 lacs.

Duration:
Health insurance policies offered by non-life insurance companies usually last for a period of one year. Life insurance companies offer policies for a period of several years.


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