Topic 3: Facts You Need to Know About Health Insurance

Person between age of three months to 80 years can have health insurance policies. Majority of people are not aware with the fact that when is the right time to purchase a mediclaim policy.

People should know the purpose behind purchasing healthcare plans. Customers need to understand that these plans are designed to cover medical expenses for accidental injuries, diseases, illnesses during the policy tenure.

Based on the medical condition, buyers can also purchase critical illness rider, an add-on benefit offered by both life and general insurance companies in India.

However, it insures policyholders in case they are diagnosed with some major diseases and the need for this is due to expenses incurred in the medical treatment of such diseases are too expensive.

Below are some plans provided under health insurance:
  • Under cashless mediclaim policy, amount directly paid to the network hospital when the policyholder is admitted.
  • Family floater plan covers the whole family under one plan whereas the individual health insurance covers only one person during policy period.
  • Critical health insurance covers only limited set of diseases which are mentioned in the policy documents.
  • Hospitalization plan is made to pay only the room rent in hospital and does not insure any medicines or treatments.
  • Maternity insurance covers pregnant women during the pregnancy and child birth complications.
  • Senior citizen health insurance is meant for people of 60 years of age, but it is advisable to purchase it as early as possible.


Please mark all your queries / responses to
Information provided on this newsletter has been independently obtained from sources believed to be reliable. However, such information may include inaccuracies, errors or omissions. and its affiliates, information providers or content providers, shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information available on this newsletter, or for any decision made or action taken by you in reliance upon such information, or for the delay or interruption of such information. , its affiliates, information providers and content providers shall have no liability for investment decisions or other actions taken or made by you based on the information provided on this newsletter.