7 types of health insurance plans: Features, benefits, how they work


Since the outbreak of Covid-19, it has seemed that everyone should have adequate insurance. But when buying an insurance policy, there is often confusion as to which insurance policy to buy.

After all, there is an extension of health care, and making the right choice can sometimes be difficult. Unlike a lifetime guarantee purchased in the name of the family dependent, confirm that you have purchased a health care policy in the name of all relationships.

  • Individual insurance plan

When looking to buy insurance for yourself, the plan you need to buy is also known as the Personal Insurance Plan Mediclaim. They must be purchased in personal name and, therefore, the premium age and the customer’s sum insured are predetermined. They are compensation policies, that is, they will reimburse you for specific expenses that amount to the amount of fabric you just buy.

  • Family Floater plans

 A Family Floater plan is essentially equivalent to a private insurance plan. the advantages remain largely equivalent, but the sum insured is often availed by any or all members of the family and not one person. For example, rather than buying Rs 3 lakh insurance to protect each member of the family of 4, if you purchase a Family Floater plan for Rs 9 lakh, each member can avail benefits up to Rs 9 lakh as against Rs 3 lakh within the earlier instance. 

  • Critical illness plans

 Unlike a medical claim plan, the critical illness plan, no matter your hospital expenses, pays the whole sum insured on the occurrence of the required illness. All insurers cover 10 to 12 major critical illnesses or maybe more, several of which are cancer, artery coronary bypass surgery, and paralysis.

  • Daily Hospital Cash plan

As the name implies, a daily hospital cash plan can be an insurance plan, during which the policyholder pays the hard and fast amount when the insured is admitted to the hospital. The insured can pay the daily hospital cash plan based on the number of days selected, regardless of any hospital bill, including doctor fees and other charges.

  • Arogya Sanjeevani Policy

 If you’re too confused as different insurers offer different variants and features in their health policies, then this is often the decision to buy. Features and benefits of health cover plans may differ across insurers, there’s quality insurance on offer from all insurance companies to assist in buying a typical plan. 

  • Corona Kavach Policy

 Corona Kavach Policy may be a specific insurance policy covering hospital bills solely on account of Covid-19. They’re available only with general and health insurers and that they are indemnity-based plans during which the hospital bill gets reimbursed.

  • Corona Rakshak Policy

 Corona Rakshak Policy is additionally a selected insurance policy covering hospital bills solely on account of Covid-19 but is out there with all insurers including life assurance companies. In Corona, the Rakshak policy pays 100% of the sum insured to the policyholder as it may be a benefit-based plan.

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