Various Health Insurance Options Available

As soon as you decide to buy a health insurance policy, the foremost thing is to decide what exactly you want to buy and from whom. The various options available are as follows,

Individual Health Plan (IHP):
These so called traditional health insurance covers, commonly known as 'mediclaim' policies. They mainly cover hospitalization expenses, provided it is for at-least 24 hours. The expenses for hospital bed, nursing, surgeon's fees, consultant fees, cost of blood, oxygen and operation theater charges are common inclusions in this plan. However unlike the past, most plans now come with sub-limits for each of these heads. They usually do not cover for pre-existing diseases or complications arising from them for the first 4 years.

Family Floaters (FF):
These are IHP plans for family. The benefits remain largely the same, but the sum insured can be availed by any or all members of a family and not a single person. A FF can be bought by an individual who becomes a proposer along with spouse, dependent children of up-to 25 years of age or even unmarried, divorced, widowed daughter and dependent parents. Even parent in-laws can be covered.

Critical Illness Plans (ICP):
This plan provides financial assistance if the insured develops a serious ailment such as cancer or has a stroke. Each cover has a list of ailments, usually 9-12 of them. One can get it in the form of a rider attached to a life insurance cover, or as a stand-alone policy from either a life insurer or a non-life insurer. If critical illness occurs, it pays the entire sum insured and the policy terminates. This can happen only once for a particular illness. To get the payout, the insured has to survive for 30 consecutive days after the diagnosis. No claims can be made for the first 90 days of the inception of the policy.

Things to Ponder Before Opting For a Plan

• Are you willing to be restricted to a network of doctors and hospitals?
• How much are you willing to spend on premiums
• How do you feel about your primary care doctor making referrals to specialists for additional care
• Are you good with keeping records and filing claims or do you want it to be handled for you?
• Are there chronic health conditions or disabilities in your family that needs to be considered?
• Do you travel a lot or spend time at two homes, or can you reasonably certain you will only need nearby medical care?
• Will you need coverage for a family member in college?
• Once you determine whats most important to you in a health care plan, you can talk to an agent to discuss plans and compare quotes.

Thanks for sharing on Various Health Insurance Options Available, will you guide me that which one is suitable for my age peoples my age is 40 and I have no take for any insurance please suggest a suitable health insurance plan for me.

Originally Posted by ALLGER

Thanks for sharing on Various Health Insurance Options Available, will you guide me that which one is suitable for my age peoples my age is 40 and I have no take for any insurance please suggest a suitable health insurance plan for me.

Choose the type of plan between IHP, FF & ICP and contact a insurance agent to pick the right vendor.