Health Insurance Coverage

What Are the Different Types of Health Insurance Coverage? - Edelweiss General Insurance

24th March 2022 8min read 157 views

Have you ever tried to buy medical insurance? Browsing through the different kinds of health insurance plans available may have overwhelmed you. We’re here to help you make an informed decision. Let’s look at the various health insurance coverages available and understand how each one works.

Individual Health Insurance Plans

An individual Mediclaim policy provides indemnity-based coverage for one person. You have the entire sum insured amount at your disposal. Since the plan only covers an individual, they are easy to customise based on your medical history. For example, a 30-year-old woman can purchase a policy with a sum insured of INR 10 lakhs for herself. Her parents, who are almost 60, may require higher coverage. She can buy separate policies for them with a higher sum insured and better coverage. An individual health insurance policy will help look after the cost of an emergency hospitalisation after an accident, daycare treatments, room rent, covered surgeries and more. Find a policy that provides you with the coverage you need without breaking the bank on the Edelweiss General Insurance website.

Family Floater Insurance Plans

Family floater health plans cover your entire family under one umbrella policy wherein the family members share the sum insured amount. Let’s say Mr Amit buys a family floater plan. The policy covers him, his wife, their child, and his parents. The sum insured is INR 8 lakhs. Mr Amit undergoes a covered surgery that costs INR 5 lakhs. Then, his mother meets with an accident and her claim totals INR 1 lakh. After both claims, the family has just INR 2 lakhs left as their sum insured for the rest of the year. These plans work best for young families. So, a young couple in their thirties with one or two toddlers benefit the most from family floater plans. Older parents may use the sum insured amount, leaving younger members with less coverage. Edelweiss offers cover for up to eight family members under a single policy. Look through our plans to find one that suits your family’s needs.

Critical Illness Policies

A critical illness policy works slightly differently. These policies are not indemnity-based. Instead, you receive the entire sum insured amount if you get diagnosed with a covered critical illness. These policies only cover specific health issues such as heart attacks, kidney failure, strokes and cancer. Typically, a critical illness policy works along with a medical insurance plan. Purchasing only a critical illness policy will not help you pay for regular treatments or hospital stays.

Senior Citizen Health Insurance Plans

To provide senior citizens with the healthcare they require, most health insurance companies offer senior citizen plans. These plans cater to older people as they offer coverage for pre-existing illnesses from the start or after a few months. Since many people struggle with health issues as they grow older, this feature is an absolute must for seniors. Most senior citizen health insurance plans have a higher premium. You can only purchase these policies for individuals above the age of 60.

Health Top-Up Plans

If you have a health insurance plan that does not provide enough coverage, you can opt for a health top-up or super top-up. These policies offer an additional layer of coverage and allow you to file claims even after you exhaust your sum insured on your base policy for the year. These policies have high deductibles, but they get offset against your base policy’s sum insured. Browse through our top-up and super top-up offerings to find the ideal policy for you and your loved ones.

Group Plans

In today’s competitive job market, many corporates and companies offer perks like health insurance for employees. Group health plans provide coverage for multiple individuals who belong to an organisation. Companies purchase group health plans for employees, but some gymkhanas and housing societies also buy these policies to look after their people. Group plans often come with low coverage amounts, and you cannot customise them as per your unique health issues. But, they offer good health coverage at affordable prices. You can discover more about Edelweiss group plans by visiting the website.

 

Evaluating your health insurance options can seem overwhelming. Now that you have a better understanding of the health insurance coverages available in the market, you can make an informed choice. Do your research and browse through what's available before picking a policy. Health insurance companies like Edelweiss health insurance offer multiple kinds of plans. Make sure you find one that works for you and your loved ones.

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