What are typical Health Insurance Plans that are offered by Insurance Companies?

What are typical Health Insurance Plans that are offered by Insurance CompaniesWhat are typical Health Insurance Plans that are offered by Insurance Companies?


Health is Wealth is a common saying, but as every saying goes, following are many, followers are none. The primary reason for the latter to have no support is because this wealth doesn’t come as a source of income or asset appreciation but as a nominal cost. People find it okay to spend thousands at a family dinner or to buy expensive clothes or utensils, however when it comes to covering their probable unfortunate future costs with a nominal fee today, they back off! Yes we are talking about Health Insurance Plans in India. This article would provide details about health insurance plans and the typical health insurance plans that are offered by insurance companies now.

Is Health Insurance same as Life Insurance?


Health insurance is not the same as life insurance. While life insurance protects and covers the mortality part, health insurance has nothing to do with it. Health insurance covers accidents, diseases, stay at hospitals, and even a chronic illness.

The unfortunate costs relate to unfortunate hospitalization or treatment costs, and the nominal fee refers to the health insurance premium, which in real terms might be even lower than your daily Uber expenditures! Yet, you will always choose to pay those surged extravagant fares to Uber, however, reluctantly say NO to bear the premiums.

Additionally, if not for you, why not think of the family? As a common saying goes, Nothing is Constant; the same is purely applicable to one’s health. You may be completely fit and fine today, but one’s health is always at risk. Be it in Uber, where you might face an accident and get hospitalized or even at home, where even a tiny mosquito can pave the way for you to a nearby hospital. Thus, Prevention is always better than Cure!

In these days, we are seeing the worst of coronavirus pandemic. It is better to opt for one of the coronavirus health insurance policy to protect you from high hospital bills.

What are typical Health Insurance Plans that are offered by Insurance Companies now?


When it comes to buying insurance, an individual should choose a plan which fits him/her the best as per their age, fitness, susceptibility, and known immunes. Thus, several Medical Insurance plans are being offered by many health insurance companies in India. The general plans available are:

1) Indemnity Product / Health Plan: This product is one of the most selling products in the health insurance industry today. Be it hospitalization bills, medical bills, and ambulance bills, most indemnity covers protect them all.

2) Critical Illness Plans: These plans are bought by individuals who wish to cover themselves from some critical illnesses like Cancer. Though one may argue that such diseases are rare, however, unfortunately, if you catch anyone, the hospital bills get longer than your own height. Thus, better stay protected.

3) Senior Citizen Plans: The products are in general indemnity products customized in such a way to cater to most of the senior citizens’ needs.

4) Special Insurances: In the era of an unknown, invisible enemy, the Coronavirus, many health insurance companies in India have come up with medical insurance plans to help individuals protect themselves against the costs of the virus.

This COVID crisis has portrayed us the importance of owning medical insurance plans for oneself and the entire family. Thus, it is advisable not to wait for a loved one to catch a disease and then pay long hospital bills instead buy an insurance plan in advance and be prepared!

Remember, it’s better late than never!

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Team – Myinvestmentideas

Typical Health Insurance Plans that are offered by Insurance Companies

Suresh KP

One comment

  • DR. BISWAMBHAR AGARWAL

    Please write about insurance companies deducting cost of disposables of hospital bill from sum reimbursed, in covid Patients cost of disposables can run into more than 50% of total hospital bill

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