Health Insurance Overview
Health insurance (popularly known as Medical Insurance or Mediclaim) protects you
and your dependents against any financial constraints arising on account of a medical
emergency. It sometimes includes disability and long term medical needs. In Mediclaim,
you pay a premium and in return the insurer commits to pay a predetermined sum of
money to meet the claims. Health insurance is new in Indian context and is slowly
catching up with the consumers. Consumers understand the objective of health insurance
and it’s offering to cover the ever rising medical expenses.
Health insurance is available to both individual and groups. However, premium for
individual policy is costlier than that of the group policy. An individual is the
owner of his personal policy. Whereas in group plans, the sponsor is the owner of
the policy and the registered members are covered by the policy. You can take advantage
of group health insurance to overcome the shortage of your individual insurance.
People with no policy or are uninsurable due to one or the other reason can take
good advantage of the group plans and be covered.
However, before buying a health insurance policy, plan your requirements carefully.
It will save you from buying a policy which might not be appropriate for you and
can also be expensive.
Other articles on Health Insurance
- Health Insurance Overview
- What is Health Insurance?
- Why health insurance?
- Types of Health Insurance
- What constitutes a Good Health Insurance Cover?
- Factors affecting Premium of health insurance
- Tips to find a good Health Insurance
- Saving on Health Insurance Premiums
- Health Insurance Glossary
- How to file a health insurance claim