Types of health insurance Plans You Can Buy in India

Types of health insurance Plans You Can Buy in India

You’re smart, responsible and are living a lifestyle which people would envy you for. But what if tomorrow, you’re diagnosed with a life threatening disease? Do you have enough funds to support the medical expenses? Will you be able to spend lakhs of rupees each month to save your life? Bewildered at this thought? If yes, then this is the right time to buy a health insurance plan

It is important to understand that Health insurance sector is India is huge as it provides coverage for all age groups. You can find an array of health insurance plans in India that would often leave you confused to go with the best one.

Here are different types of health insurance policies you can choose from.

1.        Individual health plans:

This is a type of health insurance plan designed to cover hospitalization expenses of a single individual; it takes care of the expenses till the cover limit i.e. the sum insured you have opted for. For example: If Nidhi, who has a health cover of 4.5 lakh meets with an accident and her hospitalization expenses mount to 5.5 lakh, then such a case, the insurer will only pay 4.5 lakhs i.e. the coverage amount opted for by Nidhi.

2.        Family floater plan:

This is a type of health plan, providing coverage for your family members under one single umbrella. Under this type of plan, you can cover your spouse, kids and yourself. Few insurers also let you extend the coverage to your siblings, parents and in-laws. Single premium has to be paid for securing all the family members since all individuals are covered under the same plan. 

3.        Senior citizen health insurance:

Senior citizen health insurance plan covers medical costs for individuals aged above 65 years. This type of insurance allows old-aged individuals to avail facilities such as cashless hospitalization, critical illness coverage, ambulance charges, medical bills, room rent and others.

4.        Top-up plan:

This is a type of health plan that supplements your existing coverage. It is reimbursement of expenditure, arising out of single illness beyond the limit of the existing cover. A regular health insurance policy reimburses the amount up to the sum assured, but a top-up plan covers costs after a certain threshold is reached upon.

5.        Super-top health insurance plan

Having a super-top of health insurance plan takes care of your medical expenses once you have exceeded the deductible limit on your present health plan. For example, if your present health insurance plan has a deductible limit of 5 lakh and your medical bill is 8 lakh, then at such times, the extra amount is borne by the insurer. Once the deductible limit is exceeded, the company pays the medical expenses for the whole year.

6.        Maternity health insurance:

This plan is the right on to opt for, if you are planning a pregnancy. Maternity health insurance provides coverage for everything related to maternity i.e. pre and postnatal expenses, baby’s birth, ambulance charges and others. You can also opt for a maternity cover with your base health insurance plan.

7.        Unit linked health plan:

This is a type of insurance plan that offers you a mix of health insurance and investment. The premium you pay is divided in two parts- one part is paid towards insuring your health and the other part is invested. This type of plan serves the dual purpose of investment as well as health cover. If your health cover exhausts, you can utilize the returns from the plan for availing the treatment.

8.        Critical illness plans:

This type of health insurance plan provides a lump sum amount on the diagnosis of critical illnesses like cancer, heart attack, kidney failure and others. However, the illnesses covered under this plan may vary from insurer to insurer.


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