![]() Health insurance policies designed for individuals above 60 years are known as senior citizen health policies. Employers may sometimes allow employees to enhance coverage by paying a little extra from their pockets. The policy lasts only until one is employed with an organisation. It is one of the many perks given for workforce welfare and is a basic policy that covers employees and, sometimes, their kin. Group health insurance is a type of mediclaim policy that employers buy for their employees to boost morale and retain employees. ![]() Note that the policy ceases to exist immediately after the insurer honors the claim. With critical illness policies, insurers generally disburse the entire sum insured in one shot, saving you from filing multiple claims. Getting a critical illness plan is one of the handy health insurance tips and tricks that help eliminate the financial burden caused by such ailments. ![]() Note that one member’s age and pre-existing illnesses may influence the overall premium cost under family floater plans.Ĭritical illnesses like cancers, cardiovascular ailments, kidney failure, etc., typically incur hefty costs due to the extensive, long-term treatment course. Also, you can file multiple claims per year and seek treatment simultaneously until you exhaust your sum insured limit during a policy year. Such plans are more affordable than purchasing individual health plans for each family member. Under a family floater health plan, you pay a single premium to cover yourself, your spouse, and your children. Opting for this policy is an economical choice for covering your entire family. The premiums for such plans typically depend on your age and existing medical conditions. Such a plan comes with a sum insured amount that only covers the individual insured under the policy and is not transferable to family members or others. You can evaluate the coverage to meet your medical requirements. Meant for a single person this medical insurance plan covers your individual healthcare needs. The most prominent mediclaim plans available in India include the following. Insurance companies offer a variety of health insurance plans to help you meet your distinct medical needs. Other factors like your age, medical history, lifestyle habits, etc., also impact your premium payable. The coverage you select directly affects the premium you need to pay. You can choose the extent of coverage based on your healthcare needs. Under the contract, the insurer promises to cover a range of medical expenses arising from illnesses, accidents, injuries, medical procedures, etc. ![]() Health insurance definition, in simple terms, refers to a contract between you and an insurance provider wherein you pay a premium while your insurance provider covers your medical costs. About Health Insurance – Meaning and Definition For the unversed, this article on what is health insurance can prove helpful and guide you to invest in an excellent health insurance policy. Instead, getting health insurance lets you tackle medical emergencies regardless of the inflating costs. However, not knowing what awaits makes it challenging to accumulate the correct amount. Now, you can save up and build an emergency fund. The only way to ensure security is to stay prepared. After all, some critical health issues may manifest unexpectedly. You may take all the necessary measures and follow a healthy lifestyle, but your health can take a drastic turn before you know it. Health is our most precious asset yet the most complicated to manage. ![]()
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