How to Choose Affordable Medical Insurance Policy?

Though health insurance is essential for everyone, you may not want to pay for aspects of health insurance that you may not need, in which case you can go in for a plan that suits your specific need. There are specific plans for individual, family, groups, senior citizens, maternity, etc. which you can choose to get the most affordable medical insurance which specifically caters your needs. Let us look at the different plans that you can choose from in health insurance.

  • Preventive healthcare policy: You may be going for annual medical check-ups in order to detect any illness before it is too late, or you may be undergoing treatment to nip an illness in the bud. You have to incur expenses for all this, and the health insurance you buy to cover such expenses is called a preventive healthcare policy.
  • Family floater policy: Buying health insurance for each member of your family separately can prove to be an expensive affair. Instead, you can go in for what is called a family floater policy which provides a single umbrella under which all your family members’ health will be covered in a single policy. Obviously, this is going to be cheaper than buying individual policies for each family member.
  • Individual health Insurance policy: If you do wish to go in for an individual policy, depending on your age and medical condition, there are several factors that can help you reduce your premium to make your policy affordable, such as lifestyle habits.
  • Senior citizen health insurance: The health insurance for senior citizens over 60 years of age are normally discounted. However, you will be lucky to find an insurance provider who will sell you a health insurance for senior citizens as the health risks for this age group of people is higher.
  • Maternity health insurance: Maternity health insurance is cut out for pregnant women. This policy would cover the expenses related to pre- and post-childbirth expenses. These plans cover the health of both the expectant mother and the child. You can also have this aspect included as a rider in your main health insurance policy.
  • Group health insurance: A group health insurance policy is usually bought by an employer for all their employees in one comprehensive policy. This is very beneficial for both the employer and the employee, as it provides free insurance for the employee, while the employer stands to gain by winning the loyalty of the employee. Another big advantage for the employee is that under a group insurance policy pre-existing diseases are usually glossed over.
  • Critical illness health insurance policy: This policy as the name itself suggests provides cover for serious illnesses which may even be life-threatening illnesses, such as cancer, cardiac problems, conditions which require an organ transplant, etc.
  • Personal accident insurance: Personal accident policies as the name suggests is a policy which has you covered in case of unexpected accidents, which can lead to debilitating injury or death.

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