With the increasing risk of health issues, their treatment has become excessively important. You can experience a health issue unexpectedly, and you need to have adequate financial resources to get the right treatment at the right time. This is where it becomes imperative to invest in a good health insurance plan. With a medical insurance policy, you can focus on getting better rather than worrying about the medical bills piling up. Here are some of the types of health insurance plans that you can invest in:
- Individual Health Insurance Plan
This type of health insurance plan covers expenses on an individual who is insured. Under this policy, the company pays for hospitalization expenses as well as surgical expenses of an insured individual under the sum. The premium for an individual insurance policy is determined based on the age and the medical history of the insured individual.
- Critical Illness Insurance
Under this health insurance, the insurance company covers medical expenses associated with treating a critical or life-threatening illness such as cancer, bypass surgeries, paralysis, etc. A critical illness insurance plan pays a lump sum amount to the individual upon diagnosis of the critical illness, which is covered under this policy. Contrary to other types of health insurance plans, this type of plan does not require an insured person to be hospitalized. Instead, an individual only needs to be diagnosed with the ailment covered under the policy.
- Family Health Insurance Policy
This policy covers your family members under one plan. All the members included in a family health insurance plan can claim the benefits for the hospital as well as surgical expenses. Moreover, similar to a single medical insurance policy, you have to pay a certain amount of premium, which is determined depending on the coverage amount and the age of the eldest member covered under this plan.
- Group Health Cover
These plans are purchased by an employer for their employees. The premium in a group medical cover is lower in comparison to a single medical insurance plan. This form of medical insurance plans is generally standardized in nature and extends the same benefits to employees.
- Senior Citizen Health Insurance
With growing age, you become more prone to ailments and need more medical assistance. This type of health insurance envisions to help senior citizens to pay for their medical expenses in a timely manner and acquire the right treatment. Anyone who is above the age of 65 can acquire this plan.
- Maternity Health Insurance
This type of health insurance, as the name suggests, is purchased as a rider with a basic medical insurance policy. During the prenatal stage, you need to visit the hospital regularly, thereby increasing medical expenses. In fact, even the postnatal stage, you have to continue visiting the hospital. This insurance plan covers expenses related to child-delivery, infertility, and newborn babies up to 90 days. There is a waiting period of 90 days in this type of policy.
When you take health insurance, consider the above types and select the one that caters to your needs in the most efficient manner.