Health Insurance Policy in India

Health problems increase with a sedentary lifestyle and as a larger population ages. The current pandemic situation has underscored the need for health insurance more than ever. All of our policies provide coverage for COVID -19, when a healthy individual/family purchases health insurance, if they are diagnosed with COVID -19 and require hospitalization. Covid-19 treatments are covered with a certain waiting period as specified in the policy clauses.

Our diverse, feature-rich health insurance plans are available for a variety of health issues and provide peace of mind during times of financial crisis due to medical uncertainties and contingencies.

 Health insurance in India is a form of insurance that covers all or a segment of a person’s medical and surgical expenses. It is an agreement between you and your insurance company whereby the insurance company will pay for your hospitalization and other medical expenses listed in your policy in exchange for a reasonable annual premium.

The best health insurance policies in India are generally categorized as below mentioned:

Hospitalization Plans – Hospitalization plans are insurance plans that reimburse an individual’s hospitalization and medical costs conditional to the purchased insurance plan. Hence, these plans are known as indemnity plans.

Family Insurance Plans– Family insurance Plans cover the entire family under one insurance plan. It assumes that not all members of a family may suffer from a health problem at the same time. These plans cover hospital-related expenses that may be incurred before and after hospitalization. The best health insurance plans in India offer family coverage and have a good network of hospitals to help policyholders in emergencies.

Senior Citizen Insurance– As the name implies, senior citizen insurance plans are designed for the elderly in the family. These plans cover health problems that occur throughout adulthood. According to IRDAI tips, the best health insurance in India provides coverage up to the age of 65.

Maternity Insurance Plans– Maternity insurance plans provide coverage for maternity and various additional expenses. These policies cover both pre-natal and post-natal care as well as delivery, i.e., normal deliveries or Cesarean delivery (C-section). Similar to other insurance policies, Assurances Insurance, with its expertise and strong network across hospitals concertedly supervises and manages automobile expenses.

Critical Health Problem Plans – These plans are benefit-based policies that pay a set number of payments when a critical health problem is identified. These conditions are sometimes specific, have high severity, and occur infrequently. Therefore, the treatment price is high when applied alongside daily medical treatment. These diseases include heart failure, cancer, stroke, etc.

 Investing in health insurance, especially in the current times is essential. Some of the foremost reasons are:

• Health insurance plans offer comprehensive coverage

Assurance insurance policies cover all 24-hour inpatient hospitalization due to illness, accident and outpatient treatment/procedures. All related pre- and post-hospitalization expenses are also covered up to the days specified in the policy.

• Health insurance plans offer more flexibility

Assurance insurance plans offer more flexible benefits when the policyholder experiences certain emergencies. For example, if the policy limit is exhausted, additional coverage is provided at no extra premium. This is where benefits like automatic restoration of basic sum assured, super restoration of basic sum assured and road accident insurance on sum assured come into play.

• Health insurance plans allow for additional disease-specific coverage.

With AI, policyholders can avail disease-specific policies for critical illness, cancer and heart conditions, as well as inpatient hospitalization, just like a general health insurance plan.

• Health insurance plans cover expenses outside the hospital

Most of our health insurance policies cover expenses outside the hospital. These include expenses, dental care, annual check-ups, outpatient care, diagnoses, consultations, etc.

• Medical treatments could be an unexpected financial burden for the family.
• Uninsured individuals can receive limited treatments due to a shortage of funds.
• Insurance ensures regular health check-ups which reinforce preventive health measures.
• It safeguards one’s family from sudden, unfortunate, startling health-related expenses.

 Our Features 

Premium Waiver- This feature pays the premium of a policy if you become severely ill or disabled.

Accelerated Benefit – This feature grants you to draw money advances against the benefit of your policy if you are diagnosed with a terminal illness. Individuals who opted for this policy typically allocate the money to cover treatment and alternative expenses after they have a limited lifespan.

Guaranteed Purchase Option – This feature allows you to purchase coverage at specific future dates or life events without having to prove your health status.

Supplemental long-term care insurance– Some life insurance policies include this option, which allows you to use the proceeds of your policy for long-term care in exchange for a reduced lifetime benefit.

Supplemental Spouse or Child Insurance– Life insurance policies with this feature allow you to purchase term insurance for your relative or dependent child up to age twenty-six. This selection is often a less expensive way to purchase coverage if you cannot afford separate policies.

Cash-Price Plans – This type of insurance pays out upon your death and accumulates an additional amount during your lifetime. You can use the cash award as a tax-deferred investment, a fund from which you can later borrow to pay insurance premiums.

Mortgage Protection– This feature, usually included in term life insurance policies, pays your mortgage in case of your demise.

Cash withdrawals and loans– Some universal and whole life insurance policies allow you to withdraw or borrow cash, using the cash value of the policy as collateral. Interest rates are usually comparatively low. You can also use the cash value of your life insurance policy to pay your premiums if you do not want or need to pay premiums for a period of time. You must repay the loan or your beneficiaries may receive a reduced benefit.

Survivor support benefits – Some life insurance policies offer benefits that provide objective financial and legal support to beneficiaries.

Employee Assistance Programs – This feature provides resources for issues that impact your personal and business life. The resources are sometimes free and make it easier to deal with issues such as abuse, stress, marital status problems, legal issues and major life events.

 As an attentive customer, 

• You should choose the best health insurance for your family and yourself so that you no longer have to worry about paying high medical bills. It depends on the type of insurance you choose,
• You are covered not only for your medical bills, but also for cashless treatment in our network of hospitals.
• Say goodbye to medical expenses when you decide to invest in health insurance for you and your family.

How to buy health insurance plans online?

• Earlier, health insurers had to make investments in infrastructure and take the help of various brokers, agents and financial advisors to sell health insurance plans in India. The process was tedious and time-consuming, and there was a lot of paperwork to be completed.
• On the Internet, you can find a wealth of information about different health insurance plans, their features and benefits, as well as quick and easy tips on how to purchase health insurance online.
• The process has become extremely efficient, transparent and cost-effective, with a minimum of paperwork and middlemen. So the only question left is how to apply for health insurance in India.

 What is covered in health insurance?

Curious about what all is covered by traditional health insurance? Look no further. Here are some of the guaranteed inclusions and exclusions that standard health insurance takes care of. Although the following list can help you gage what is covered and what is excluded in your policy, you should check with your health insurance provider and read your policy documents carefully to be sure.

 Included in your health insurance:

•  Inpatient hospitalization
•  Care before and after hospitalization.
•  Day care procedure
•  Ambulance charges
•  Covid-19 coverage

Exclusions from health insurance coverage.

•  Dental treatment (unless cancer/acute trauma).

The purchase of external aids such as glasses, hearing aids, prostheses, crutches, artificial teeth and veneers is excluded.

•  Self-inflicted injuries are not covered by health insurance.
•  Any type of cosmetic surgery, such as plastic surgery or Botox, is excluded. Exceptions include surgery for burns or accidental bodily injury or surgery to treat cancer.