A health insurance policy is a type of insurance that covers medical expenses for illnesses or injuries. The health insurance system helps you stay safe from various diseases. It covers the cost of hospitalization, daycare procedures, home medical care (after hospitalization), ambulance costs, health checkup, doctor consultation fees, etc. Additionally, under section 80D of Income Tax Act, it helps you to get tax benefits against your health insurance premium. It is an essential requirement no matter your age or gender.
IRDAI( Insurance Regulatory and Development Authority of India) an authority which protect the interest, regulate and promote the policy holder and maintain the insurance industry.
Difference between health insurance and medical insurance. Medical insurance generally covers the hospitalization and some specified ailments and accident. Health insurance gives you comprehensive coverage of pre-hospitalization and post-hospitalization including ambulance service.
In India there are mainly two types of insurance
Indemnity Plan has sub type such as
Under Individual Health Insurance policy the insured person get coverage of service basis or expense incurred basis. Basically it is a long term care policy.
Under Group Medical Insurance generally for predefined group of people like employees of a company, member of society or association it covers health and medical expense.
Under Maternity insurance the insured person get coverage cost of pregnancy, new born care, and child birth.
Under Family Floater Insurance all the family member get coverage under one umbrella. It extends the coverage of benefit for entire family. Generally, it covers spouse, children, and parents.
Senior Citizen Health Insurance for the age group above 60. Generally it offers pre health check facilities and cashless service within the insurance company listed hospitals.
Fixed benefit Plan has subtype such as
Under Personal Accident benefit if any incident of sudden accident occur and you are unable to work or disabled. In such case this insurance offer coverage even any defined injury like bone fracture, eye sight loss or hearing problem.
Under Preventive Insurance insured person gets coverage of tests like blood pressure monitoring, cholesterol check-up, diabetes, cancer screening, HIV test, genetic testing, etc. It prevents serious diseases to become major.
Critical illness protect the insured person by paying lump sum following the diagnosis result. Critical illness like organ transplant, heart attack renal failure type illness.
Care Health Insurance Company formerly known as Religare Health Insurance Company is a India-based insurance company established in July 2012 headquarter Gurgaon, Hariyana . Kedaara Capital is the co promoter of this company.
The company offer benefit like
|Health Care Provider||16500 + cashless|
|Claim settlement Ratio||95.02%|
|Claim settled||25 lakh+|
It is a joint venture company between HDFC, India’s eminent housing finance institution, and ERGO International AG, insurance entity of Munich Re Group.
3 types of health insurance plans offer by HDFC ERGO company
Indemnity health insurance:
Under this plan, they offer 4 types of plan –
Fixed benefit health insurance:
To meet the endless medical bill this plan is very help full as it pay a lump sum to the insured person rather actual bill.
Top up health insurance:
If you have already an insurance and you want to extent the range wider then HDFC ERGO health insurance Top up plan strengthen your existing insurance.
Benefit offers by the company
|Network||10000 cash less hospital|
|Claim settled||1 claim settled per minute|
|Strength of customer||1.5 crore|
It is a joint venture company between Star Health and Allied Insurance company. The company headquartered situated in Chennai. The company started journey in the year 2006. The company started its IPO in December 2021.
Company offers various types of plan
Medi classic insurance policy:
Family health optima insurance plan:
Senior citizen red carpet health insurance policy:
Star cardiac care insurance policy:
Star comprehensive insurance policy:
For cash less claim
|Lives covered since inception||16.9 crore|
|Hospital Network||More than 11000|
|Claim amount paid since inception||17211 cr|
|Claim settled since inception||5.2 million|
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