Health Insurance Plans

Health Insurance is a type of insurance plan wherein an insurance company promised to compensate the policyholder(s) for the expenses incurred on medical treatment subject to the sum insured mentioned in the policy.

InsuranceDekho.com is an online platform that lets you compare health insurance quotes of top-rated insurance companies on the basis of requirements and helps you choose the best health insurance policy for you.

A family floater plan is a type of health insurance plan under which the insurance coverage is available to the entire family rather than just one individual against the payment of a single premium. Generally, a family plan consists of 5 members of the family - self, spouse and up to 4 children. However, this can vary from insurance company to insurance company.

Arogya Sanjeevani Policy is a Standard Health Insurance Product (SHIP) which is offered by all health insurance companies with exactly the same benefits. For this plan, no medical check-ups are required for people who are not older than 45 years and have no medical history.

A claim settlement ratio refers to the percentage of claims settled by a health insurance company out of the total claims received by it during a financial year. The higher the claim settlement ratio, the better it is.

Co-payment refers to the share of claim amount borne by the policyholder/insured at the time of claim settlement. However, a co-payment does not reduce the sum insured.

Individuals below 60 years of age can claim a tax deduction of up to Rs. 25,000 and individuals above 60 years can claim a tax deduction of up to Rs. 50,000 under Section 80D of the Income Tax Act on their health insurance premium.

A daycare treatment refers to medical treatment, and/or surgical procedure undertaken under general or local anaesthesia in a hospital/daycare centre in less than 24 hours because of technological advancement.

A free-look period is the time period during which a health policyholder can review the terms and conditions of their health insurance policy, and return the same if not acceptable.

A waiting period refers to the time span after the purchase of the policy during which a policyholder cannot claim any benefit from the insurance company. All health insurance benefits can be claimed only after the expiry of the waiting period of the health insurance plan.