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WHAT IS HEALTH INSURANCE? Health insurance or medical insurance is an insurance product that provides coverage for medical expenses in the e...



Health insurance or medical insurance is an insurance product that provides coverage for medical expenses in the event of an illness or injury. Health insurance plans safeguard your hard-earned funds from being spent on expenses related to hospitalization, medicines, consultation and more. A health insurance policy can also be viewed as an agreement between you and your health insurance company that binds them to cover you financially in case of any medical emergency.

There are several types of health insurance in India. And, you should choose the best health insurance policy for yourself and your family so that you can relax when it comes to paying hefty medical bills. You not only get covered for the medical expenses with your plan, but also get facilities such as cashless treatment and quality health care at a reputed network hospital.


An effective medical insurance policy is essential because the prices of medicines and hospital treatments are rising day by day. If an accident or critical illness befalls you, it will cause a huge financial burden on you and your family. A hard-hitting truth is that whether your trip to hospital is planned or it comes as an unpleasant surprise, it is sure to cost you heavily. So, it’s better to have the protection of a health insurance policy, that besides helping you manage your finances, also offers you several other benefits at very affordable premium rates. You can also check out various health insurance quotes online to figure out which one is most suited to your budget.

Here are 5 reasons that will make you understand the importance of having the best health insurance plan:

Financial Help: Your health insurance policy will ease your burden of paying heavy medical bills from out of your pocket. You can save your hard-earned money for living your life to the fullest, instead of spending a huge part of it on medical care. If you are worried about the premium rates, then please be assured that you can get an adequate health insurance policy at very affordable premium costs. You also get discounts like a family discount, which will allow you to purchase medical insurance plans at a relatively low premium..

Quality Medical Care: You can avail the benefit of cashless claims and quality medical care if you decide to get your treatment at a network hospital. A network hospital is a hospital that has an agreement with your health insurance company, which enables you to get the best treatment without having to shell out from your pocket.

Tax saving: In India, the payments you make towards your health insurance policies are eligible for tax deductions under section 80D of the Income Tax Act. You can avail the maximum deductions of INR 1 lakh if you buy health insurance plans for yourself and your loved ones, and if you and your parents are senior citizens.

Extensive Coverage: Health insurance plans in India not only cover you for hospitalization expenses but also provide cover against critical illnesses, accidental injury, maternity-related expenses, consultations, check-ups, and more. This extensive coverage is offered through a wide array of different types of health insurance policies.

Peace of mind: If you are secured on the financial front, then even a trip to a hospital feels a little less stressed. Having a medical insurance gives you the peace of mind that can help you relax in a tense situation.

Health insurance in India is offered by various companies accompanied by several features and benefits. You can certainly evaluate these policies and choose the best health insurance plan from among them.


Buying a health insurance policy is important. Yet, there are times when people are reluctant to buy an appropriate cover. Often people get confused between different types of health insurance policies in India.

When buying medical insurance it is important to choose a health cover that fulfills their needs. Let us start by understanding the key differences between individual and family floater health insurance policies:

Individual Health Insurance
Family Health Insurance
Health Insurance for Senior Citizens
Critical Illness Insurance
Personal Accident Insurance

Brief information here......

Individual Health Insurance: Under the individual health insurance policy, Proposer and dependent family members can be covered in the plan with a separate sum insured. So, in case you are looking forward to securing yourself along with your family members, where you need not share your sum insured, consider choosing an individual health insurance plan. You can avail of cashless treatment at over 7600+ network hospitals with our health insurance plan.

Some key features of Individual Health Insurance
  • Multiple sum insured options
  • Cover for pre and post hospitalization
  • Covers daycare procedures, extended family
  • Covers ayurvedic and homeopathic treatment
  • Road ambulance cover
  • Daily cash benefit
Family Health Insurance: Medical expenses do not come with any warning. It becomes important to have a robust health insurance policy. The family floater health insurance plan permits you to include multiple members of the family within the same health insurance plan with a single premium. Under this type of health insurance plan, the sum insured is shared by all the members covered in the plan. Secure the family at a feasible health insurance premium.

Some key features of Family Health InsuranceCover for Dependent family members
  • Daycare procedures cover
  • Pre and post hospitalization
  • Convalescence benefit
  • Bariatric surgery cover
  • Sum insured reinstatement
Health Insurance for Senior Citizens: As a person ages, the body starts showing different signs that indicate ailments that may happen primarily because of age-related problems. Hence, it becomes important to be prepared for the golden days. Health insurance for senior citizens acts as a shield in case of any such medical condition during old age and doesn't leave them in financial distress.

Some key features of Health Insurance for Senior Citizens
  • Shorter waiting periods for Pre-existing Diseases
  • Waiver of co-payment
  • High entry age
  • Cumulative bonus
  • Free health check-up
Critical Illness Insurance: A regular health plan may not always cover expenses related to any critical illness. The critical illness insurance plan is extremely helpful as it offers a cover for high-cost treatments against life-threatening diseases. The major advantage of a critical insurance cover is that the lump sum benefit becomes payable only on diagnosis with the listed critical illness, hospitalization is not mandatory

Our critical illness insurance plan, Criti Care, protects against 43 life-threatening diseases including the following:
  • Major Surgery of Aorta
  • Cancer
  • Open Chest CABG
  • First heart attack of Specified Severity
  • Kidney failure
  • Major Organ transplant
  • Multiple sclerosis with persisting symptoms
  • Permanent paralysis of limbs
  • Stroke resulting in Permanent symptoms, etc.
Some key features of Critical Illness Insurance Covers you and your family members
100% payout on diagnosis of listed Critical Illness
Multiple sum insured options

Personal Accident Insurance: The personal accident insurance policy takes care of you and the family members against any adversity. It provides comprehensive cover against accidents and supports in the crisis hour. Now, you can protect yourself from the expenses of any unforeseen accidents. It covers you and the family against any bodily injury/death/disability that is caused because of a mishap

Some key features of Personal Accident Insurance
  • Sum insured up to Rs 25 Crore
  • Family cover
  • Children’s education bonus
Add on benefits like Adventure Sports Benefit, Accidental Hospitalization, Coma Care, Fracture Care, etc

Conclusion: The rising cost associated with medical care is one of the biggest reasons to buy a health insurance policy. And, the benefit of investing in adequate health insurance plans is that they gives you stability in terms of paying your hospital bills, even if it’s for simple day care procedures or preventive health care check-ups.

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