February 15, 2010 by akhilendra

Insurance for health – Health Insurance

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Medical treatment bills can give us more pain than medical disorders. Medical treatments are very expensive nowadays and sometime end up sucking our entire savings. Precautions are better than worry so it’s better to insure ourselves against these kinds of adversity than worrying about them. The best option in current world is to go for a health insurance or medical insurance policy. Health insurance has come a long way in India. People far more aware about these policies and more and more people are opting for these policies. Government has done quite well in recent past to promote these things. Insurance companies are offering a lot of new and innovative product these days.

Health insurance is insurance policies which pay money for the expense occurred on a predefined disease. Customer has to pay certain amount as premium. In general, premium is not very high for these policies. They define certain conditions under which they will pay the benefits like hospitalization or non hospitalization, in case of hospitalization, minimum number of days to be spent in hospitals, types of diseases or disorders. There are two main types of health insurance policies being sold in Indian market today- one in which insured will have to claim the benefits after occurring expenses. These products requires client to fill a claim form and provide all bills along with few other documents. Second type is cashless schemes under which insurance companies provides cashless card and a list of tied up hospitals and if client visit these hospitals, insurance company directly pays money to the hospital and client have to bear a very minimal amount.

There are employer funded schemes also where employer pays the insurance premium and employee is insured with a certain benefit amount. There are critical illness plans also which specifies a list of disease which are covered under policy and company will pay a particular fraction of face amount at the diagnosis of the disease. It is being sold by life insurance companies also. These are few major types of health insurance policies in practice in India. With the rise in cases of occupation and sedentary life style related disorders, urban world is getting more prone to these of diseases. Medical treatments for disorders arising out of today’s life style are very expensive. These policies help in countering the financial damage which the cost of treatment can cause to us.

Here is the list of major service providers in India;

• Aviva Life insurance
• Bajaj Allianz General Insurance Co. Ltd.
• Birla Sun Life Insurance
• E-Meditek Solutions Limited
• Family Health Plan Limited
• Health India-Bhaichand Amoluk Insurance Services Pvt. Ltd.
• HSBC Health Insurance
• ICICI Lombard General Insurance Co. Ltd.
• Life Insurance Corporation Of India
• Max New York Life Insurance
• Med Assist India Ltd.
• MetLife India Assurance Company
• National Insurance Company
• Paramound Health Group
• Reliance Health
• Royal Sundaram Alliance Insurance Company Limited
• Star Health and Allied Insurance Company Limited
• Tata AIG
• The New India Assurance Co. Ltd.
• United Healthcare
• United India Insurance

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