An individual health insurance means a separately defined cover for each member. It is available for an individual rather than an organization or groups. It provides health coverage to the insured individual. You may be pleasantly surprised by getting different options in the same. Nowadays the insurance market in India has come out with several insurance options.
An individual health cover will provide coverage to the insured against basic medical care cost. Apart from it, this will also provide additional benefits to make the coverage much more effective. The benefits of the plan vary from company to company. Staying healthy is an important factor for an individual. People should put healthcare as their top most priority. Remaining healthy is a necessary thing. Customers should buy the health insurance plan as soon as possible. Early health insurance will insure customers for the lifetime.

In a family floater scheme, a single policy covers the hospitalisation expenses of the entire family. Such a policy has only one sum insured which can be utilised by a single or all members collectively in the family. The limit of coverage is capped at the sum assured. Family floater plans are considered better than buying a separate health policy for each member of the family. It takes care of all medical expenses including surgeries, sudden illness and accidents.

Top Up Health Insurance provides all features of Health Insurance like Emergency ambulance cover, Health Check Ups, Pre and post Hospitalisaton expenses, day Care Treatments and others at a low premium as compared to Basic Health Insurance plan. The price is low because these plans have a high deductible. This means that cost below a certain amount will not be paid by the insurance.

Medical costs are increasing. It calls for large covers. But not all can afford a high premium. A top up plan can come useful in such a case. It reduces cost of deductibles i.e. the amount you pay before the insurance company pays up. The insurance company will only pay up to the sum assured. A top up plan, on the other hand, doesn’t pay until the hospital bill breaches a specific limit. Say, if the hospital bill is Rs8 lakhs with Rs3 lakhs as deductible, you need to pay the latter, while the insurer pays the balance Rs5 lakhs. But you can use your individual/group policy to pay the deductible amount. This is usually helpful because combination of a basic mediclaim plan along with a top up plan is much cheaper than a single cover. For instance, premium for a Rs5 lakhs regular cover for a 26-year old male, will be around Rs6,500. A top up with Rs15 lakh cover will entail an additional premium of Rs5,000, which is far cheaper than a standalone policy of identical amount.

Health Insurance is a necessity in today’s world. Nothing is certain in life, we have no control over any accident or health problem in life. Insurance policies are must have in uncertain circumstances of the fast life. Common men earn each and every penny after toiling themselves in the scorching heat and adverse weather. One medical report with positive news about some critical disease may result in the flow of money like water in just one go. Medication, hospitalization, test bills, and treatment cost cause hole in the pocket of the customer and its results in boundless stress that results in further serious of various diseases and emotional, social and economic breakdown of the customers. This is the time when we realize that health insurance is a necessity for you and your dear and near ones. Health insurance provides a cover for free medical check-ups, cashless medical treatments and there is the wide range of different policy covers provided under the same. But, even if one owes a health insurance policy, any critical illness shake the person and family from the roots because there are so many complications in critical diseases that are not covered under the normal health insurance policy and for them, special Critical Illness Insurance Policy is needed. Health Insurance also provides cover for critical illness, but the sum insured in the same is very limited and that is why a separate sum insured amount is needed to meet the need of heavy medical treatment expenses. Some critical diseases are hereditary transferred from one generation to another and while some are born out of our unhealthy daily life routines, the critical illness like Cancer or any other disease diagnosed is enough to devastate the life of a common man for always.

Importance of Critical Illness

By buying a critical illness plan, you don’t need to rely on any other person for your illness and expenses of its treatment. The critical insurance plan is a good choice as it provides coverage when you are seriously ill and don’t have savings to clear the medical bills and related expenses. The money which you get from critical illness insurance will help you in clearing medical bills, home modification, and many other things.

This is very important too, but Critical Illness Insurance Policy as any life threatening illness can shatter all dreams of a normal man and it can spoil all future planning of customers. After saving money bit by bit with all hard work and planning, spending all of it on the medical bills and in hospitals cannot be justified. No matter if the diseased person is cured after efforts and best treatment, with the end of emotional trauma, the financial burden on the shoulder of family and the person which was spent during the treatment will never let them sleep in peace and it results in a chain of the financial crisis. Critical Illness is a severe health condition that has a rewind able effect on the life of an individual and it requires a great amount of money to treat the same. Nowadays, it is very easy to diagnose the disease at the early age only. Critical illness can be cured that easily as they need to be treated with costly technology, and there is the investment of lump sum of capital for the same. Some of the most common critical illnesses covered under the Critical Illness Insurance Policy are as follows:

• Heart attack
• Cancer
• Major Organ transplant
• Blindness
• Stroke
• Terminal illness
• Bacterial Meningitis
• Motor Neuron Diseases
• Deafness

Senior Citizen Health Insurance policy is normally a health insurance policy which can be taken as individual policy or as family floater policy. Since most of the Insurance companies do not offer health insurance to Senior citizens due to high probability of claims, few companies give health insurance to senior citizens with some limitations such as co-payment, sub-limits or up to limited sum insured.