“The First Wealth is Health”- Ralph Waldo Emerson

We couldn’t agree more with this quote. Health comes at the very first position in every man’s life so why not take it to next level by ensuring that you have health insurance. Health insurance safeguards you from every expense of hospital, pharmacy, surgery until you get fit. It is very crucial to be ready for any health emergency before it’s too late. This is what we’ve learned from the year 2020. Health insurance takes the load of the entire financial burden from your shoulders.

Benefits of Health Insurance

There are many benefits of health insurance. It supports you in hard times and holds your back when you need financial help in case of a health emergency. You need to analyze the plans properly to get the best one for yourself.

➤ Cashless Facility

You can go cashless without concerning about the payment because the insurance company will take care of all the expenses, even the expense of an ambulance too. It is also termed as cashless health insurance.

➤ Freedoms from Taxes

You are not bound to pay additional taxes during the treatment. It is the responsibility of the health insurance company to check that.

➤ Value-Added Services

The insurance company provides additional services, like paying for pharmacy bills, ambulance bills, surgery and many more. But there are several plans according to each company. It is up to you that which plan you purchase. Each plan consists of different services, Star health insurance provides benefits like e-Medical Opinion, Telemedicine Services, Wellness Programs and rewards

➤ Long-lasting Trust

Insurance Company believes in developing a long-lasting trust. Trust is the foundation of any company; the Insurer gains the trust first and then sells the policy.

➤ Customer-focused

All the insurance policies and plans are developed to give benefits to customers. You can visit your nearest hospital for the treatment and the company will take care of all the charges.

What is coverage in health insurance?

Health insurance covers the cost of a person’s medical and surgical expenses. Other than these, health insurance covers the cost of ambulance, medicines, ICU, Daycare and all remaining expenses. Either you can pay all the expenses and then the company will pay you or you can directly ask the company to pay the bills. The Health Insurance companies offer multiple health insurance plans to meet customers’ needs and provide hassle-free in-house claim settlements.

Types of health insurance plans

There are many types of health insurance and each type contains different features. Here is a list of the most common and helpful health insurances, it covers almost all the categories. Take a look and find out the best one for you and your family.

➤ Individual health insurance

In this type of health insurance, the individual will get coverage of their spouse, children and for self. It covers your medical expenses for injury & illnesses related to hospitalization, surgery costs, room rent, daycare procedures and more. If you take insurance of 3 lakh annually, then all the members included in the policy will get the sum of 3 lakh individually, if needed.

➤ Family Health Insurance

It is somewhat similar to individual health insurance, but it also includes your parents. If your parents are old aged then this policy is not so much recommended to you. You should opt different policy for them as they are more prone to get ill. Moreover, you can buy a premium for these policies to extend the limit of coverage.

➤ Group Health Insurance

A group health insurance plan is purchased for so many people altogether. It is basically opted by corporate houses or companies. The company’s owner gets this policy to cover hospitalization expenses in case of illness, accident, or maternity leaves. It boosts up the morale of employees and pushes them to stay focused on work. It is a complimentary benefit given by good companies to the employees. Furthermore, it enhances the goodwill of the company and you are eligible to get that insurance benefits till your employment period.

➤ Critical Illness policy

Buying this policy is the smartest move you can make in this era. We are not living a healthy lifestyle; any major disease can enter our lives. This type of health insurance policy covers all those sudden and critical illnesses like Cancer, Stroke, Kidney Failure, Paralysis, Coronary Artery Bypass Surgery, First heart attack, Pulmonary Arterial Hypertension, Multiple Sclerosis, and Aorta Graft Surgery. Insurance for cancer is an expensive deal. A person should live at least 30 days after the diagnosis to claim the money. It has lifetime renewability. If a person has used the sum of the policy then the policy will get terminated.

➤ Senior citizen health insurance

As it is very much clear, this insurance policy is for people above the age of 60 years. Just like the other policies, this too covers all the basic medical facilities. As older people are more prone to get ill, these policies are extravagant. Few companies will ask you to get a full-body checkup before signing up for this. Along with this, some additional benefits like Domiciliary Hospitalization and Psychiatric benefits are also covered in the policy. Domiciliary Hospitalization means any medical treatment which was originally going in hospital but later shifted the treatment at home.

Covid-19 Group Health Insurance

This health insurance safeguards the labourers and contract workers from the risk of covid-19. A group of people working under the same employers get the benefit of this health insurance. It covers the risk of getting infected by coronavirus.

What does it include?

This type of health insurance is different from group health insurance. It includes some different features.

Individual Cover – This insurance is there as individual cover which simply means that each member of the group will get individual coverage up to the sum insured amount.

Perfect for Laborers and Contractual Workers – This type of health insurance is perfect for people working as labour. Their employer is bound to pay for the expense of treatment.

Additional floaters cover – Some of the insurance companies provide floater cover to the insured under health insurance. The business owners will have to choose this cover while buying this policy.

Benefits- Group Health Insurance for COVID-19

Getting coronavirus insurance for labourers is a productive idea for both, the business owners and their workers or and employees. We have a few of the benefits of purchasing covid – 19 group health insurance:

Compulsory by IRDA – According to the guidelines released by IRDA in April 2020, every entrepreneur, employers and business owner have to cover its employees, labourers and contractual workers under a covid-19 group health insurance. A person is not eligible to start their own business until all their employees and labourers are covered under the insurance of contract workers for coronavirus.

Safety for the Employees – This policy maximizes the potential and working ability of your labour class people as they will be fearless of getting infected while working. This is beneficial for both parties as the business owner have the insurance in case of infection.

Builds Employee Loyalty – After buying this insurance and protecting your contractual workers, you’ll earn their trust and loyalty. They will feel more dedicated toward you and your work. They will avoid switching jobs too often and will remain truthful to you.

COVID-19 Group Health Plan Inclusions

The covid-19 insurance for employees offers coverage for these expenses:

Hospitalization of Patient – The plan covers hospital charges of the contractual worker/labour while the treatment of covid-19 was going on. It mainly adds to the expense of the hospital room.

Pre & Post Hospitalization – It pays for pre-hospitalization or post-hospitalization expenses that occurred in the treatment of covid-19. The pre-hospitalization bills are paid for 30 days and post-hospitalization bills are paid for almost 30/ 60 days.

Ambulance Charges – This health insurance pays for ambulance charges too. If any worker has used an ambulance, the employers need not worry about that. This insurance policy will pay for that too.

Day Care Treatment – COVID-19 insurance for employees and labourers will cover the cost for the daycare treatment of the employees and labourers.

Air Ambulance Charges– Few insurance providers pay for the expense of air ambulance services used by the worker to reach a hospital in an emergency situation.

Second Medical Opinion – This group insurance for employees of the company and its workers add on the cost of taking a second medical opinion for the treatment.


Mediclaim is somewhat similar to health insurance that includes all your medical expenses, if needed, to the amount insured. The insurance company pays for the charges of hospitalization that includes treatment, room rent etc. in case of an accident or any health emergency. You can get cashless treatment facilities at any nearby hospital and this facility is available for all types of mediclaim insurance.

Benefits of Buying a Mediclaim Policy

A mediclaim insurance policy shields you from burning a hole in your pocket. Our lifestyles and food habits will lead us to a medical emergency someday. It is vital for us to be preparing for that too. A mediclaim is like financial support to the patient and his family in such a critical situation. There are a few genuine benefits of mediclaim listed below-

  • Cost-effective-A mediclaim policy is a cost-effective method of getting healthcare services without consuming your savings.
  • Cashless Treatment-Get Cashless hospitalization and treatment facilities in all intracity hospitals where your insurance company is connected. It allows you not to spend any additional charges in case of a medical emergency. It is the best cashless health insurance
  • Relaxes Financial Stress–It decreases the financial stress of the policyholder and the family by providing financial assistance in a medical emergency.
  • Hospitalization Charges-These policies include patient’s hospitalization charges, like OT expenses, doctor’s fees, nursing charges, pharmacy bills, etc. arises during illness or accidental injury.
  • Lifelong Renewability-A mediclaim policy provides a lifelong renewability option to the policyholder according to the opted policy. It means a person can renew his policy anytime.
  • Tax Exemption Benefits-Taxes are exempted under section 80D and it can be offered on the policy premium that is paid every year by the policyholder.

Types of Mediclaim Policies

There are many types of mediclaim policies in the market. Here is a list of the most popular policies among all. Take a look at the types given below.

➤ Individual Mediclaim Policy

A single person is eligible for this policy. He/she can claim the insured amount in case of a medical emergency. The policy covers the medical expenses like hospitalization, medicine etc for the insured person.

➤ Family-floater mediclaim policy

In a family floater mediclaim policy, the whole family is insured for a fixed sum in case of a medical emergency. This includes the cover of self, spouse, children, and in a few cases, it adds coverage of parents too. The amount insured could be used by the family or even by a single member of the family. It is the best mediclaim policy for families in India

Senior citizen mediclaim policy

Senior citizen mediclaim policy is a vital plan to have for older people, especially those above the age of 60. If you have a plan to retire soon or your age to retire is coming, then you may have to live on your pension money or some interest income from a savings account. Both of these are not reliable in case of an emergency. It’s recommended to choose a senior citizen mediclaim policy so you don’t have to suffer from financial stress.

Mediclaim VS Health Insurance

Mediclaim policy is somewhat similar to the health insurance policy. In fact, both of these policies work under the same condition, but there are minute differences in both of these. Let’s know more about this.

Features Mediclaim Health insurance
Cover Provided A mediclaim policy offers the amount cover for hospitalization, accident-related treatment and pre-decided diseases for a particular duration.

A health insurance plan provides comprehensive cover including hospitalization charges, pre-hospitalization charges, post-hospitalization charges, ambulance expenses.

Moreover, it provides a particular amount in case of loss of income because of an accident.

Additional  Coverage It has no additional features or covers. In order to provide outstanding services, it provides critical illness coverage, personal accident coverage, accidental disability coverage, maternity coverage and many more.
Flexibility in Coverage While providing coverage, it hardly provides flexibility. A health insurance plan has the required flexibility. Insured can reduce the health insurance premium amount after a period of time, insured can change the duration of policy too. They can take long-term policies to have maximum insurance benefits.
Main Features Features of a mediclaim plan vary from insurer to insurer. In general, all the mediclaim insurance companies provide different mediclaim insurance cover. Generally, the benefits are the same till the similar (amount) sum of policy in most of the insurers.
Critical Illness Coverage It hardly provides coverage for critical illnesses. It offers critical illness cover for over 30 critical diseases like cancer, stroke, kidney failure, etc.
Sum Assured

The sum assured for a mediclaim insurance policy doesn’t exceed 5 Lakh Rupees.


The sum assured for a health insurance policy limits till 6 Crore Rupees per annum, which means, health insurance offers wide coverage.
Claims In the mediclaim plan, a person can ask for claims till the full amount assured is exhausted.

In a health insurance policy, when claims related to critical illness/ accidental disability coverage occurs, the assured sum is paid in a lump sum.

Few claims can only be asked for only once during the entire policy duration. Other than this, a policyholder can ask for claims until the sum insured is not exhausted.

Hospitalization To use mediclaim benefits, it is important that the insured gets hospitalized. In order to use health insurance benefits, it isn’t required to get hospitalized. Benefits like day-care procedure coverage can be used without getting hospitalized.

How to get a health insurance policy?

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You can apply for a policy online or you can visit the office too. Everyone is eligible to get the policy on different factors. Check out the eligibility criteria to purchase a health insurance policy.

The age limit for adults is 18-65 years, the age limit for dependent children starts from 90 days to 25 years. For pre-medical screening, a person should be more than 45 years old. For the waiting period of pre-existing disease, the specification starts from 2 years to 4 years.

In the case of a pre-existing disease like diabetes, blood pressure, kidney problems etc, the medical illness should be 2- 4 years old.  If you are a drinker or smoker, you have to inform that your insurance company. Lying to be a company can cost too much to the people.

If you still have some questions and doubts regarding health insurance, you can ask your query in our FAQ section or give a call or write us at Our contact information is available on the website.

Other Related Questions

Few of the health insurance companies have started their plan at the price range of 20-25 rupees a day, which makes an average amount of 600-700 rupees monthly. A company named Raheja QBE starts their health insurance plan at rupees 261/month. It makes it one of the cheapest health insurance policy providers. There are innumerable companies providing many plans at a different ranges. Oriental insurance offers one of the most expensive insurances. Compare before you purchase.

You have to take a new health insurance policy for pregnancy-related expenses. Few insurance companies do not provide facilities for this in the ongoing policy and few do. There is a type of policy named Maternity Health Insurance.

This type of health insurance includes pre-natal, delivery and post-natal expenses. Any couple who is planning to have a baby can get this insurance. It covers the delivery of a child (including medically necessary terminations), infertility expenses and coverage for the newborn baby up to its first 90 days. The Maternity health insurance Cover has a waiting period of at least 2 years.

There are many health insurance policy providers in the market. Everyone is offering different types of plans at different charges with additional features. You have to analyze all the policies and then decide that which suits your pocket and fits your needs. Though, the top insurance providers are Star health insurance, Max health insurance, Hdfc ergo. HDFC ergo is also known as Apollo Munich and Apollo Munich login is possible on HDFC ergo website. There are innumerable types of insurance, compare and choose.

Health insurance covers the cost of a person’s medical and surgical expenses. Other than these, health insurance covers the cost of ambulance, medicines, ICU, Daycare and all remaining expenses. Either you can pay all the expenses and then the company will pay you or you can directly ask the company to pay the bills. The Health Insurance companies offer multiple health insurance plans to meet customers’ needs and provide hassle-free in-house claim settlements.