Health insurance helps you pay for medical costs when you're sick or injured, ensuring you can get the care you need without worrying about money. It's like having a backup plan for your health, keeping you and your family safe during tough times.

However, choosing the right health insurance plan is crucial to ensure it meets all your needs and requirements. Scroll down to explore the various types of health insurance available in India.

What is a Health Insurance in India?

Health Insurance is an agreement between a health insurance company and the insured that makes the company liable for any medical accidents or emergencies. The expenses may include the cost of medicines, surgeries, ambulance charges, doctor’s fees, etc.

A good insurance policy will provide protection against a large number of diseases and allow the insured to choose the health coverage. It should also have access to a more extensive network of hospitals.

Read more: Here's Your Smart Guide to Health Insurance Policy Renewal

Why Buy Health Insurance in India?

You should consider buying health insurance in India for the following reasons:

- High Medical Expenses in India: The inflation in medical costs has become a great burden for the Indian population. Hence, buying health insurance can save us from financial strain in case of unforeseen situations.

- Preventative Care: Various companies offer health insurance that provides coverage for preventive healthcare, such as screenings, regular health check-ups, and immunisations. This, in turn, monitors the insured's well-being.

- Wider Network: Various health insurance plans have tie-ups with top-notch healthcare facilities that help the insured get the best care at a discounted rate. This is highly beneficial, as these would have otherwise been very expensive.

- Stress Relief: The insurers feel at peace knowing they have arranged coverage in case of an unannounced medical emergency. This reduces stress, which consequently improves health.

Read more: Top 5 Guidelines for Choosing the Best Family Health

What are the Various Types of Health insurance Available in India?

The following types of health insurance are commonly available in India:

1. Individual Health Insurance

This insurance provides coverage for individuals where the insured is entitled to receive the hospitalisation expenses up to the sum insured. Apart from this, the premiums for individual health insurance plans are decided based on the history and age of the buyer.

2. Critical Illness Health

This insurance is specially designed to provide coverage against critical illnesses such as kidney failure, chronic kidney disease, heart attack, stroke, and cancer. It differs from other insurances in that it provides a lump sum at once.

3. Group Health Insurance

Group Health Insurance is mainly seen to be bought by employees. This provides coverage to a group of people a company refers to as its employees. The most exciting feature of this insurance is its zero waiting period.

4. Senior Citizen Health Insurance

Senior Citizen Health Insurance applies to all people over the age of 65. This is the perfect option if you are looking for health insurance for your grandparents or parents. The premium is higher than for individual and family health insurance.

5. Family Health Insurance

Also known as the Family Floater Plan, Family Health Insurance protects the whole family in a single plan, and the entire sum is shared among the family members. The premium for family health insurance is slightly lower than that of individual health insurance.

6. Personal Accident Insurance

The cost of treatment from an accident can be huge. Hence, buying personal accident insurance covers any kind of accidental death or premature disability resulting from an accident. Weekly compensation may be provided in case of any disability.

With this, you have a detailed knowledge of why you should buy health insurance and the different types available in India. So, compare them, go through the terms and policies of every company, and choose the one that works best for you.