Health insurance policy was launched in India in the year
1986.Since then, health insurance sector has witnessed a significant growth. In
the fields of general and health insurance India has prospered a lot. According
to the statistics, around 3.9% of India’s GDP was spent in medical and health
sector till 2011, which is comparatively lower than that when compared to other
countries. Till the year 2010, more than one-fourth of India’s population had
access to health insurances in some form or other. There are several types of
insurance policies available in India that is based on types of benefits
provided to the insured.
Cashless facility when hospitalized-
In terms of health insurance India is one of the
countries where people are aware of its benefits. Few health insurance plans
pay on behalf of the insured while being hospitalized and s/he doesn’t need to
shell out a single penny for the treatment. There are two sub-categories in
cashless facility plans. The one is where the sum assured for the entire family
can be used for the one who needs hospitalization. These types of policies are
called family floater policies. Then there are individual health policies where
the sum assured can be used individually by the members.
Reimbursement of money while patient gets hospitalized-
In many insurance plans, the insured and his family members
(those who are insured) need to pay initially for hospitalization and later on,
all the hospitalization expenses get reimbursed.
Daily cash on hospitalization-
Under many health insurance plans, insured and his/her
family members get daily cash benefit on getting hospitalized. The payments are
provided for a particular span of days of a policy year.
Policies that provides benefits on critical ailment-
There are health insurance plans that provide a lump sum
amount to the insured if s/he has been diagnosed with a critical ailment.
In the sector of health insurance India has prospered a lot. There are many other types of plans and policies introduced by some renowned insurance service providers that are based on various amounts of sum assured and according to the age of the insured. It is, therefore, our duty to study the teams and documents carefully and understand them properly before investing.
