All You Need To Know About Health Insurance Policies in India

A medical emergency can come knocking at your door anytime. But, with robust health insurance in place you can deal with any contingency on your own. Health insurance is a smart investment that helps you in your time of need.

Amid the sea of health insurance policies available in the market, you must find the policy that meets your needs and is within your budget. For that, one easy way is to compare health insurance based on features, coverage and cost, and then make an informed decision.

Things to Consider When Choosing Health Insurance

Health insurance either pays for medical expenses incurred in treating illnesses or injuries or reimburses these expenses on submitting original bills. Insurance policies usually cover the cost of critical illness treatment, medicines, and hospitalisation and post-hospitalisation expenses.

The policy you choose should offer protection against:

  • Deductibles: Before you buy a health insurance plan, make sure to check the deductible amount as mentioned in the policy. A deductible is an amount you are required to pay towards the settlement of the claim; the insurer will cover the remaining costs.
  • Family members’ medical history: When deciding which family members will be covered by the insurance coverage, take into account their past health records. The premium may increase if any beneficiary has a history of illness.
  • Waiting period: There will be waiting periods before certain pre-existing conditions are covered. Consider purchasing health insurance with no or little waiting period.
  • Exclusions: Checking the exclusions—or what is not covered—is one of the most crucial things to do when choosing a health insurance plan. Remember, the exclusions will help you choose a plan that best meets your needs.
  • Add-ons: Consider choosing health insurance policies that provide yearly health examinations and value-added services. Also, take into account a plan that offers value-added services such as lab testing, pharmaceutical savings, online doctor consultations etc.
  • Claim settlement procedure: Be certain to adhere to the insurer’s claim settlement procedure. The claim settlement process is simpler and speedier when the procedure is clear-cut.

Types of Health Insurance Plans 

In India, there are many types of health insurance plans. Here are some of the most popular ones:

  • Individual health insurance policy

 An individual is a sole person covered by an individual health insurance policy or plan. Your medical costs for things such as hospitalisation, injuries, room stay, and more are covered by this policy. This policy offers insurance coverage that can only be used by the person who is insured by the policy, making it a single-person policy.

  • Family health insurance

You can cover every member of your family under a single-family health insurance policy. The amount insured under these policies is typically greater than that under standard individual health insurance policies. Every family member covered by the plan has access to the money insured. The best feature of this policy is it allows you to purchase cover for your complete family at a low premium.

  • Health insurance for ageing parents

For persons over 65 years of age, the Senior Citizen Health Insurance Policy offers thorough coverage. Choose this plan if you wish to purchase health insurance for your elderly parents or other loved ones. This health insurance policy often has a slightly higher premium than the first two categories of health insurance.

  • Policy for critical illness 

Critical illnesses covered by this kind of health insurance include cancer, heart disease, kidney problems, paralysis, and organ failure. Usually, the insurance company will pay a lump sum amount when you make a claim against the insurance plan.

  • Employee health insurance policy

A group of people will be protected by this policy. This cover is the most typical kind of group coverage. Usually, a business or an employer provides their employees with an employee health insurance policy.

The policy may be for a single employee or it could allow you to cover your family under the same umbrella. Depending on your company, you might have to pay an additional premium to include your family.

  • Health insurance policy for women

This health insurance policy is available as an add-on to the standard policy. The add-on can be utilised to pay for costs incurred during serious injury, illness, or before, during, and after delivery.


You should compare health insurance and then choose the best health insurance plan for you and your family.

You can choose the individual health insurance policy if you are single. However, if you have dependents, you can choose the family health insurance policy. For your elderly parents, choose the old-age health insurance plan. Given that medical costs are rising, particularly for critical illnesses, you can also decide to add the critical illness policy to the standard plan.

Disclaimer- The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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