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What is Health Insurance, What is the importance of Health Insurance Plans 2022

Friends, first of all you are warmly welcome on this blog. Today we will know through this article, what is health insurance and what is the importance of health insurance plan, so let's know.

Friends, health insurance is a type of insurance plan in which the insured person gets financial assistance in case of his medical emergency. 

It provides financial assistance for expenses such as surgical expenses, care expenses and critical illness expenses under the health insurance chosen by the insured.

What is a Health Insurance Plan?

In this plan, the insured gets financial assistance in emergency medical cases under the insurance purchased from the insurance company of his/her choice. 

This insurance company provides coverage to the insured person during the treatment. 

What is Health Insurance

Under a health insurance plan to a person, the insured gets the benefit of cashless medical or refund payment. Let us now know what is the importance of health insurance plans in our life.

What is the Importance of Health Insurance Plan in our Life?

Friends, in this run-of-the-mill life, the circumstances of getting treatment or getting it done are not known. Having a health insurance plan has become a necessity due to the deadly risks involved in our today's lifestyle.

Even after that, diseases occur in India due to many reasons.

The cost of medical treatment is also witnessing inflation due to increasing day-by-day desire for hospital and medical services, and this is often seen in private hospitals.

As of today, if you have not taken your health insurance in this era, then a medical emergency can put a huge burden on your pocket.

That is why it is very important to have health insurance in today's time. This health insurance plan provides financial protection to us and our family members in case of hospitalization or any critical illness/accident.

Types of Health Insurance Plans in India

In order to buy a health insurance plan capable of meeting our every need, we have to compare different types of insurance plans and this comparison is also very important.

In the following lines, we have listed some types of health insurance that can meet your needs:

Individual Health Insurance Plan

In this plan, the insured gets the benefit of cashless hospitalization expenses, refund payment, compensation for pre and post hospitalization expenses, cover for home treatment, etc. 

Individual health plans are available with add-on covers and low premium payments.

Critical Illness Health Plan              

This plan pays a lump sum amount in case of critical illness like kidney disease, paralysis, cancer, double heart etc. 

Usually this plan is bought as a rider or as a single plan. In this, what will be the sum insured, it is specified in advance. 

In this plan, the insured has to survive for a specified period after the diagnosis of the disease before making a claim.

Senior Citizen Health Insurance Scheme

Senior Citizen Arogya Bima Yojana provides coverage to people aged 60 years and above. 

This insurance covers hospitalization expenses, inpatient expenses, OPD expenses, daycare procedures, pre and post hospitalization expenses and tax deduction benefits under section 80D.

Family Health Insurance Plan

In this plan, the entire family of the insured person gets coverage on payment of premium alone. Under this health insurance, a pre-specified sum insured is specified in equal parts for all the members of the family. 

This amount can be claimed by any member of the family once or more than once during the term of insurance. 

In Parivar Arogya Bima, each member of the family along with the insured also gets financial coverage against illness.

Personal Accident Cover

This plan is a rider that provides coverage for disability or death due to an accident. 

Under this rider, hospitalization expenses after an accident and other monetary benefits are available in case of sudden loss of income.

Maternity Health Insurance Scheme

Under Prasuti Arogya Bima Yojana, the insured gets coverage for all the expenses of maternity such as delivery of the child (normal and caesarean), before and after childbirth. 

Some insurers also provide coverage for newborn vaccines. Along with this, there is also a provision in this scheme to take the pregnant mother to the hospital of her choice.

Coronavirus Health Insurance Plan

Following the massive outbreak of covid-19, IRDAI has announced two insurance plans, namely Corona Kavach Health Plan and the other Corona Rakshak Health Insurance Plan, to deal with the expenses due to Coronavirus. 

The Corona Kavach plan is designed for the protection of the whole family and for the corona protector for either the man or the woman. 

Both the policies cover hospitalization expenses, COVID-19 expenses like masks, gloves, PPE kits, oximeters, ventilators etc.

Even if a person already has a health insurance plan, he can buy this policy for himself and his family.

Group Health Insurance Scheme

Nowadays more than 80% employers are providing health insurance coverage to their workers. This scheme helps in meeting the hospitalization expenses of the worker or any member of his family.

It would be advisable for you to choose the Mediclaim offered by your company as you do not have to pay any additional premium in these plans. 

The premium of this group health insurance scheme is paid by the employer and the worker gets the benefit.

Unit linked to Health Insurance Plan

Unit-Linked Arogya Bima Yojana (ULHP) is a type of health insurance that has been developed recently. 

This plan is a wonderful amalgamation of investment and insurance cover. 

Apart from this, ULHP also helps you to build a corpus so that you can cover expenses that you are not covered under a health insurance plan.

Among the ULHP health insurance plans available in India, ICICI Pru's Health Saver, LIC's Health Protection Plus, 

Birla Sunlife's Saral Health and India First's Money Back Arogya Bima Yojana are the best.

Why Should We Buy A Health Insurance Plan?

The cost of medical treatment in our country is increasing day by day. In India, the defeat of medical inflation has reached 15% for the past few years. 

If you buy a health insurance plan, then you will not have to worry about medical bills, hospital expenses, etc... in case of your critical illness or accidental injuries.

Unfortunately, only 20% of the total population of India buys the cover of a health insurance plan. 

After that, only 18% of the people in urban areas and 14% of the people in rural areas have coverage of such an insurance plan. 

Let us see why it is important to buy a health insurance plan in India:

A health insurance policy covers hospital expenses, medical expenses, examination expenses, ambulance, doctor's fees, etc. 

There are some insurance plans that cover  OPD expenses up to a specified limit.

In this, you get a chance to get free medical treatment at any network hospital.

Nowadays, in the midst of this corona epidemic, the importance of health insurance has increased even more. Buy an insurance plan to cover the cost of PPE kits, masks, ventilators, ICU charges, etc.

Those people who are going to start a new family can take insurance for their upcoming newborn and for their mother.

You can buy health insurance plans like Corona Kavach and Corona Rakshak.

Some serious operations like liver transplantation, open-heart surgery, and day-care therapy like cataract surgery, varicose veins, and so on can use an insurance plan to cover the cost of such therapy.

By having a health insurance plan, you do not have to worry about yourself and your family members. With an insurance policy, there is no need to strain your pocket.

If you are unable to pay the higher premium and are confused about which insurance plan you should buy, then you should buy Arogya Sanjeevani Health Insurance Policy; Medical treatment of Covid-19 is also covered in this insurance.


We are sure that you will like this information very much. Do share this blog with your friends for more such information. Thank you.

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