Article

Types of Health Insurance Policies
September 14 , 2012

A health insurance plan pays the individual and their family for expenses incurred in the event of hospitalization. It covers doctors' fees, room rent, medicines and other related costs as specified in the policy terms and conditions. Health insurance is also known by other names - mediclaim, medical insurance.

There are basically three types of health plans available in the market.

Individual health plan

Premium depends on sum assured chosen and age of the individual. Individual plans are suitable for those who do not have any dependents.

Family floater

The entire immediate family is covered in a family floater plan. Medical bills will be reimbursed up to the limit of sum assured for a given year for different family members covered, taken together. In case of medical insurance it is actually advisable that the entire family be covered by one policy than to have individual policies for each member.

Group health plan

Group health plans are meant to cover a set of individuals belonging to a common group. Most commonly the set of individuals are employees of a company. Group health plan is very popular in corporates and at times may extend to cover families of the employees.

Fintotal Knowledge the best place to learn more on personal finance.

The language is simplified and written specially for non finance background individuals.


Explore more in a easy manner.

Table of Contents

Table of Contents

  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed

Get the all financial products under one roof only at

you will NEVER GO WRONG with us!

Unbiased . Best Deals . Appropriate Products . No Mis-selling