The Indian market is flooded with the options for a Health Insurance plan. Plans are made specifically for a target age group like the young people or senior citizens or there are plans available in the market specifically for the super senior citizens i.e. people above the age of eighty. There are plans available for the entire family too. Therefore, with these choices available in the market, one has to gain knowledge about the terminologies surrounding Health insurance. Preliminary knowledge of health insurance terms and coverage can help you to compare health insurance plans from several companies.
Parents are prone to several illnesses, as they get older. While choosing the plan for your parents, you need to put extra care in order to find out the plan with better coverage.
Let us choose the right health insurance plan for your parents by covering various aspects related to health plans in detail. The below information will help you to compare health insurance plans from different vendors and thereafter, you will be able to make an informed decision. Progress in medical technology has caused healthcare costs to increase rapidly, making good medical treatment at affordable rates a serious problem. Thus, a good health insurance plan for a senior citizen is mandatory.
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What is Health Insurance?
A health insurance policy is a type of insurance which provides you with coverage for medical expenses like the hospital bills, paying for the operations, regular checkups, treatment and medicines too.
Makes you Worry Free
Medical expenses are not cheap by any means and not everyone can afford to pay for the best treatment. Even the nominal medical charges are not too cheap, and this is where a medical policy tends to help you out. If you have a health insurance policy then you do not need to worry about paying for hospital bills as your insurance provider pays them for you. In return, you just have to pay the premium, which is a lot less in comparison to the medical charges.
Regular Checkups
As health insurance policy covers the medical expenses, it makes your parents become financially independent with respect to healthcare. Medical treatment is not needed all the time, sometimes what is needed the most is a regular checkup which is also covered under most of the health plans. Therefore, health insurance for senior citizens is not only important for your parents but is also easy on your pockets in the long run.
Types of Health Insurance policies
Broadly, Health insurance policies are classified into two types depending upon the basis of the number of people insured by a single plan. They are individual plans and family floater plans.
Individual Health Insurance
As the name defines, individual health insurance provides insurance only for a single person and all the benefits and medical coverage are provided to that individual only.
Family Floater Health Plan
On the other hand, a family health insurance provides coverage for a group of people including your parents. The eldest member of the family or the group decides the coverage of this policy.
Consider your requirements and opt for a suitable plan accordingly.
