Wise men say, health is the prized possession of each and every individual and it is our duty to guard ourselves against the unavoidable health dangers that the world is facing these days. Health insurance is a guaranteed way to shield ourselves and our family against all health-related threats. Accidents, diseases and severe illnesses are inevitable and cannot be avoided but what we can do is at least prepare ourselves to deal with that danger by having strong financial support. It is no lie that the healthcare facilities are growing expensive day by day and it is getting impossible to afford heavy medical bills on our own without having health insurance as a back-up.

A comprehensive health insurance plan is an arrangement between the insured and the insurance company, this arrangement is based on an exchange where the policyholder pays fixed premium amount regularly and the insurer guarantees to pay for all the medical expenses in return.

Types of Health Insurance Plans

1. Individual Health Insurance Plan - This is the most basic type of health insurance plan that almost all insurance providers offer. This plan simply provides financial aid to the insured in case of any minor or major health-related problems. The insured is secured under this plan for as long as the policy is valid and in order to continue the policy, the insured or the policyholder is supposed to pay the premium instalment without any failure.

2. Family Health Insurance Plan - Most people in the country want to own a health plan that not only secures them but also covers their entire family under a single health insurance plan. The solution for this is a family health insurance plan that covers the insured along with spouse and dependant children.

3. Senior Citizen Health Insurance Plan - This plan is specially designed to fulfil the needs of people who are above the age of 60 and needs protection against health risks. Most insurance plans do not cover senior citizens due to the higher risk to them getting health problems. Therefore, this plan is a lifesaver for older people.

4. Severe Illness Cover - This type of health insurance plan is usually added as an addition to the regular health insurance plan. It covers all the medical expenses for severe illnesses such as heart attack, kidney/lung failure, cancer etc. These critical illnesses require extra cash than an average medical bill. This plan is added because these illnesses are not covered in the basic health plans and so they need extra cover.

5. Group Health Insurance Plans - This type of health insurance plans are bought by corporations and big multinational companies who need to provide health insurance cover to their employees. Using this type of plan, companies can purchase a single health plan which can help them cover all of their employees under a single plan.

Benefits of Health Insurance Plans

1. Cashless Services - One of the most popular and unique features of health insurance plans are the availability of cashless services. Cashless service enables the insured to avail medical services in any one of the insurer's network hospitals. Using this feature, the insured can choose not to pay a single penny during his/her stay at the hospital. Although, it is important to note here that this service is only available at the companies network hospitals and not any other.

2. No Claim Bonus - No claim bonus is referred to the bonus amount which the insured can avail either as an added value to the sum assured amount or the bonus can be used to deduct the same value from the premium payment. The bonus is claimed or is given to the insured if the insurer finds that there have been no medical claims made for the past year.

3. Free Medical Check-Up - Some of the insurance companies offer a service of free medical check-ups to the insured. In the case of a family insurance plan, the service is available for all the family members who are insured under the family floater plan.

4. Day-Care Treatment - Sometimes the medical conditions of the insured demands a day-care treatment or if the insured cannot be moved to the hospital, he/she might need a medical service at home. This benefit guarantees all of these extra services to the insured.

5. Ambulance Fee - The insured at the time of a medical emergency will need a quick transportation service to take him/her to the desired hospital. Health insurance plans cover or reimburse the ambulance fee.