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Medical Insurance - The Different Types!

Health Insurance Policy

The future of our well-being is unknown to us. We cannot predict when a medical emergency will strike us or any of our family members and leave us wrecked emotionally and financially.

Prevention is always better than cure. Medical Insurance India is one of the most important precautionary measures that can give you a cure from all financial ailments during medical emergencies. Health insurance comes in different types and forms.

Since this is such an important aspect in your life, it is important that you are aware of the different categories of medical insurance policies that are available in the Indian Insurance Market and coverages offered by them. You can get more information about the various types of medical insurance policies at

A Glance at the Various Types of Medical Insurance Policies

  1. "Mediclaim Policy" is one of the most common types of medical insurance policy prevalent among Indians. This policy reimburses all eligible hospitalization charges for treatment of illnesses or due to accidents. This policy normally does not cover charges incurred outside the hospital, like pathological tests, doctor's fees and medicine costs while not hospitalized unless the same reason leads to hospitalization in 30-90 days or as a result of hospitalization within the previous 30-90 days. Non-emergency treatments like cosmetic surgery, obesity, etc. are not covered under these medical insurance plans.
  2. The second kind of medical insurance policy is the "critical illness" policy that offers to pay a lump-sum amount in case you are diagnosed with a serious disease like cancer, stroke, organ failure and so on. This amount is paid to the patient only after the diagnosis is made and has survived for a certain period after the detection of the disease. This type of medical policy generally helps in creating a way of inflow of money in order to cover for the loss of income during the period of illness, in case one has survived. This plan comes as a rider along with the Mediclaim Insurance plan for some extra premium and not as a substitute of the same.
  3. A third kind of medical insurance policy, which also comes as a rider along with the mediclaim insurance, is the "daily cash allowance policy". This plan pays fixed amounts for daily hospital expenditures.
  4. The fourth kind of medical insurance India plan is a separate policy in itself and is primarily meant for those who are not eligible or cannot afford a mediclaim insurance policy. This plan provides a big amount for any surgeries that are listed in the policy. If not a complete coverage for hospitalization, it can atleast cover the surgical costs.

The Indian medial insurance industry offers various kinds of plans and policies to safeguard the finances that might be required for your future health issues. Your duty is to do a thorough research of all policies and riders available, check out which among these are suitable for you and then buy the policy.

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