Types of Health Insurance

Health care costs have seen a phenomenal rise in the recent times. This has led the customers to insure not only themselves but their family members also. It will cover future medical expenses and other related requirements if it ever arises. The need to insure has gained more importance amongst older generation who is either retired or will retire in the near future. Let us discuss the types of medical insurances available in the market.

Medical Insurance
This is typically a hospitalization cover and reimbursement of the medical expenses incurred in respect of covered disease or surgery while the insured was admitted in the hospital as a patient. Different types of medical insurances are available in the market like individual medical insurance, group medical insurance and overseas medical insurance. There are health policies that reimburse you the actual hospitalization cost for treatment of any disease and are offered by the non-life insurers only. These policies are popularly called "Mediclaim" policies. Other types of health insurances are provided by both the life and non-life insurers.

Critical Illness Insurance
Critical Illness plan insures you against the risk of serious illnesses in return of a premium you are required to pay. This gives you the same security of knowing that a guaranteed cash sum will be paid if the unexpected happens and you are diagnosed with any one of the critical illness. Sometimes a critical illness can change your lifestyle in addition to help within the home or the family. In this type of health insurance plan, the insured receives a lump sum amount within a few days of diagnosing critical illness. Once this lump sum is paid, the plan ceases to remain in force. Typically, a critical illness plan would provide cover for the illnesses mentioned below.

1. Aorta graft surgery
2. Cancer
3. Coronary artery bypass surgery
4. First heart attack
5. Kidney failure
6. Major organ transplant
7. Multiple sclerosis
8. Paralysis
9. Primary pulmonary arterial hypertension
10. Stroke

Other articles on Health Insurance

1. Health Insurance Overview
2. What is Health Insurance?
3. Why health insurance?
4. Types of Health Insurance
5. What constitutes a Good Health Insurance Cover?
6. Factors affecting Premium of health insurance
7. Tips to find a good Health Insurance
8. Saving on Health Insurance Premiums
9. Health Insurance Glossary
10. How to file a health insurance claim