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Health plans in India come in different variants. Each variant offers tailor-made insurance coverage for different needs. Let us explore the different types of health insurance plans available in the health insurance sector:
Firstly, we can divide health plans into two categories – indemnity health plans and fixed benefit plans. Each category is then subdivided into different types. Let’s understand:
Indemnity health insurance plans
Indemnity health plans are those types of health insurance policies which pay the actual amount of expenses incurred on medical emergencies. The maximum limit of claim is the sum insured.
Fixed benefit health insurance plans
These plans pay a fixed amount of claim irrespective of the actual expenses incurred. The fixed claim payable is mentioned beforehand and is paid if the claim is incurred.
Here are the sub-types of both types of health insurance policies:
Besides the above-mentioned types of health plans, group health plans are also available. These plans cover the members of an identified group. The most common example is the employer sponsored group health insurance plan taken on the life of employees.
Choose the suitable types of health insurance policies for your needs when you are buying health insurance.
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