What are the different types of health insurance?

resr 5paisa Research Team

Last Updated: 24th August 2023 - 12:54 pm

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Before purchasing a health insurance policy, it is essential to understand the various types of health insurance. The list of health insurance alternatives in this post will assist you in choosing the best health insurance.

A health insurance policy is one of the most cost-effective ways to obtain enough coverage for hospitalisation. There are several health insurance plans and features available on the market today. However, it is critical to select the option that best suits you and your family. So, let's learn about the various types of health insurance plans that will help you find the best health insurance plan for your needs.

Mediclaim Policies

This is the most prevalent type of health insurance coverage. This sort of plan often covers the costs of pre- and post-hospitalisation, costs incurred for surgeries, ambulance charges, room rent, and so on. Said that it is crucial to understand the exclusions and caps under such plans to select the one that best meets your needs.

Top Up Policies

Top-up health insurance policies are add-on covers that give you and your family additional protection in the event of a medical emergency. These plans come in handy if your current health insurance is insufficient to cover your medical expenses. In other words, they are helpful when your present health plan's basic threshold limit is exceeded.

Family Floater Plan

A floater is a single sum insured that protects all family members in one policy, and the sum assured is accessible to any one member or all members in the event of any unforeseen incident during the policy's term. This is one of the forms of Mediclaim policies in which you may cover your entire family under one policy and the amounts claimed by any of the family members named at the time of policy purchase would be reimbursed from such a policy. 

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