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Different types of Health Insurance Policies to Choose From

Different types of Health Insurance Policies to Choose From

Health insurance policies are schemes that cover medical costs of an individual incurred at the time of medical procedures. Anyone can avail the benefits of a health cover by paying a monthly sum known as a premium amount.

One of the many advantages of having a health insurance policy is the reimbursement of all the expenses made during a medical situation. In this way, your family and you can undergo necessary medical procedures without worrying about the expenses. All you have to do is pay a monthly premium.

You can buy health insurance online from an insurance provider of your choice. You also have the option of choosing the type of policy that suits your needs. Here, we discuss the types of health insurance offers and their benefits.

  • Individual Health Insurance

It is a plan designed to protect you against expenses on illness or accidents. An individual health insurance provides you with a cover for your medical and surgical expenses. During a medical situation, you can notify the organisation and explain the circumstances. The organisation can either reimburse you for your expense or directly pay the hospital via acashless transaction.

  • Family Floater Plan

If you want insurance cover for your entire family, the family floater plan is a better option. Under this plan, you pay a monthly premium and get insurance for your entire family. Family Floater plans have several advantages.

For instance, the cover extends to all members of the family in the case of hospitalization. Also, under this plan, the entire family has health insurance at the cost of a single individual’s monthly premium. This is the reason why a family floater plan is more economical than an individual health cover.


  • Unit Linked Health Plan

If you want the benefits of health insurance and investment from a single policy, the Unit Linked Health Plan (ULHP) is a good alternative. ULHPs differ from conventional insurance policies. The condition of the payment of monthly premiums remains the same. A part of the premium is used for a health cover, while the remaining sum is used for investments. The organisation providing the ULHP will invest your money in several different ventures on your behalf.

The profits on these long-term investments will be provided to you after the end of the policy term. In this way, you have an assurance of a health cover and the benefits of returns on investments.

You can opt for a health insurance policy that is relevant to your situation. You can contact an insurance company or buy insurance online. On the internet, you will find many websites which compare policy prices of different vendors.

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