Types Of Health Insurance Plans

The Main types of Insurance Plans are as ,

Health insurance plans can be broadly classified into three categories, depending on the coverage provided.

General health insurance plans.

Specific health plans.

Critical Illness Plans.


Features Of Health Insurance Policy :

The coverage for different ailments and disorders in a health insurance policy defines its value to you.

The features of a health insurance policy are defined by this. It might include a blanket cover for common ailments or it might cover common ailments and other more complicated diseases and disorders.

All these of course are available to you, if you are eligible for them. Needless to say, cover for specific diseases and disorders will cost you more.


General Health Insurance Plan :

General health insurance plans typically provide for hospital room charges, doctor/surgeon fees, medical tests, medicines and related expenses.


Specific Health Plans:

Specific health insurance plans provide cover for critical illnesses/diseases such as heart attack, kidney failure, etc; most insurers offer critical illness plans. Another set of specific insurance plans target ailments such as diabetes and cancer. These plans offer cash on hospitalization, reimbursement for expenses incurred on surgical treatments, and such like.


Critical Illness Plan:

In this health insurance plan, the insured receives a lump sum amount within a few days of diagnosing a critical illness, Once this lump sum is paid, the plan ceases to exist.
Some insurers insist on the insured surviving for a predefined period (typically 30 days) post-diagnosis before they honor the claim.

Some insurers offer critical illness plans with the alternative option of receiving claims payment in installments over a period of 5 years (the choice needs to be made at the time of making the claim). Such policies provide long term cover of 10 years to 30 years.

Typically, once an insurance claim has been made no more premiums have to be paid and the plan ceases. However, some insurers provide the insured with a choice of continuing the plan for the remaining critical illnesses for a lower sum assured and revised premium rates.