Family Floater is a very cost effective product, that covers an entire family under one policy and one fixed cover. This fixed cover is shared with the family members, i.e. if Vermas, a family of three buys a Family Floater Mediclaim of 3 lakhs, the full family covered can make claims of upto Rs. 3 lakh in a year, subject to other terms and conditions in the policy. In most policies Self, Spouse, and Kids are covered in a family floater policy. On the other hand, Individual Mediclaim is a product where each member is covered under a separate coverage. Taking individual policies turns out to be more expensive than Family floater. If you are a young couple, Family floater would be a better choice.

SBI Life Insurance announced a foray into the health insurance segment with the launch of its ‘Hospital Cash’ plan, which provides a fixed daily allowance to policyholders for each day of hospitalisation.

The Hospital Cash plan guards against the erosion of policyholders’ accumulated savings on account of medical bills by providing a fixed daily allowance to the insured person for every day of hospitalisation, irrespective of the hospital bill amount, SBI Life said in a statement.

“Our foray into health insurance is aimed at addressing the issues of rising healthcare costs and acute under-penetration of health insurance in India,” SBI Life MD & CEO M N Rao said.

The plan is available for a fixed policy term of three years and offers the flexibility of premium payment options, with collection on a yearly, half-yearly or quarterly basis. The cover can be renewed till the age of 75 years.

Hospital Cash’s Daily Hospitalisation Cash Benefit (DHCB) provides policyholders with a 100 per cent fixed payout from the first day of hospitalisation without any deductions.

Furthermore, in case the insured person is admitted into an ICU, the amount receivable by the policyholder is twice that of the DHCB.

An additional fixed lumpsum of Rs 10,000 is payable to policyholders covering two or more family members under the plan in case the insured person is admitted to the ICU.

The product would also be made available for subscription online.

Insurance remains a very complicated subject for many individuals. Many people rather adopt the approach of “nothing will happen to me”, rather than “I need to prepare for the unforeseen”. In actual fact, with the amount of information that we readily have access to and the different sources we can rely on for information, ignorance on the matter of insurance is rather unnecessary. But with different types of policies, ranging from health insurance to car insurance, house insurance, life insurance and even commercial insurance, it is possible to sometimes feel a little bit lost in space

If in doubt about the range of insurance products and services available, all you have to do is pick up the telephone and contact your local insurance company. A skilled and professional insurance agent will be able to answer all your questions and assist you in making the correct selections. It might be a good idea to have a list of questions and requirements ready, so that you can provide the insurance agent with as much information as possible.

Insurance can typically be categorized in two main categories: short term insurance and long term insurance. An example of short term insurance is car insurance where you only have to pay the policy for as long as you drive the car. Once you sell the car you cancel the policy, as easy as that. Long term insurance on the other hand requires a longer commitment. An example of a long term insurance policy is life insurance. A life insurance policy can be obtained at a young age and the policy’s term is usually calculated on an individual’s life expectancy.

Another type of insurance that tend to be very confusing is health insurance. Many people are under the impression that health insurance is just another term for a medical aid. This is in fact not true. Without going into too much detail it is important to understand that a medical aid has certain limits and restrictions. A basic medical aid for example, will consist of a “savings account”. Once the savings account is depleted, the medical aid is basically exhausted and your medical bills, medicine etc. will be for your own account.

Health insurance policies are slightly different and can almost be described as a combination of a medical aid and an insurance company. Similar to a medical aid there is money available in the policy so that an individual can pay for medical expenses, but it will generally make a lump sum available to the policy holder or the beneficiary, rather than just covering doctor’s bills and medicine. In other words, to make sure that you are properly covered you will in fact need a medical aid, plus some type of health insurance.

Different types of health insurance policies can be obtained and it is once again important to discuss your needs and requirements with an insurance agent or broker. While some individuals opt for critical illness cover, other individuals prefer cover in the event of work disability and others might be more interested in accidental death cover. Make sure that you have adequate policies in place as early as possible – you never know when you might need it the most.

You never know what could happen in life that could result in you needing medical treatment. You might feel great and not think that you will ever need the services of a doctor. You drive safely and are careful in everything you do. However, sometimes unfortunate things happen when you least expect them. You can become sick without warning, or you could get hurt by another careless driver. In those cases, you would need medical attention. Doctors and hospital bills could add up to thousands of dollars. Therefore, having medical insurance is essential in order to be able to afford health coverage.

Health insurance is a type of insurance in which your insurance company pays the medical costs if you become sick or have an accident. It provides coverage for trips to the doctor, emergency room, hospital stays, and other medical costs which might occur. Policies vary in what they will cover, the deductibles, and the co-pays. When you have this type of insurance, you pay your insurance company either monthly or annually, and when you need medical attention, the insurance company will pay your provider for your bills up to a predetermined amount.

It is also beneficial to obtain insurance because it covers some of the costs of your prescription medication. Pharmaceutical drugs can be very costly, especially if they are needed for a long period of time. Your insurance company will pay most of the cost, and you will only need to pay co-pay, which will be much less than the entire price of the medication.

Medical insurance can be provided through your employer or through private companies.

The most popular type of plan includes a free for service plan. This is when your insurance provider pays for most of the cost, and you pay a certain amount of the bill. Another type of plan consists is the Preferred Provider Organizations. This is when your insurance company has a list of hospitals and doctors which will provide lower costs to you for medical services. You are required to go to any facilities on the list in order to get medical attention. In addition, for people who cannot afford medical facilities, the government provides Medicaid to make getting medical care available to anyone who needs it.

It is important to be aware of what your insurance company will cover. Not all services are covered. Therefore, you are required to pay what your provider will not cover. Your provider should send you a document explaining your benefits and which services that you are responsible for. Sometimes companies require that you obtain prior authorization before seeking medical attention. If you are not aware of the terms and conditions, then it could cost you thousands of dollars.

If you do not have health insurance, you could end up paying the entire bill out of your own pocket, and that could result in big financial problems. You never know what can happen tomorrow, so it is very important to be prepared if you are the unfortunate victim of illness or an accident.

A good health insurance plan is one of the most important things you need to have for yourself and for your family. But what should a good health insurance plan consist of?

It can be a bit of a challenge today to find the right insurance plan for yourself and your family because of the diverse options available. However, when you are choosing a good health insurance plan, don’t simply base your decision on the cost of the monthly premium.

Know the details of the health insurance plan – what it covers and what it doesn’t cover. Also find out the health insurance plan’s in-network as opposed to out-of-network coverage and expenses. What are its co-payment amounts, deductible amount per family member if applicable, and the coverage caps?

Understand what your needs and your family’s needs are when you are deciding on what health insurance to get. Should the health insurance plan cover just you or should it cover you and your spouse? Should it cover you and one child or do you need a health insurance plan that will cover your entire family?

The next step is to find out the health needs of everyone whom you want to include in your health insurance plan. This step can be quite complicated. Are you and the others in good health overall? Does anyone have any pre-existing conditions? Would you at any time feel the need to approach certain medical specialists or institutions? Once you answer these questions, you will be ready to start choosing a good health insurance plan.

You will need to gather all possible health insurance options available for you and your needs. If your employer is offering group insurance, your options may be limited. If you are self-employed, you will have to choose from the different private health insurance plans. Whatever your case is, you need to understand the difference between the two basic types of health insurance plans offered today: the Indemnity Plan and the Managed Care Plan.

With an Indemnity Plan, you are free to choose when and where you want to get medical assistance. This type of health insurance plan has a higher out-of-pocket cost, but for many people, the added price is fair when they consider the freedom they are getting.

With a Managed Care Plan, you are required to only use the services of medical professionals and institutions that are part of the plan’s “network”. In general, you would need pre-approval for medical services beyond basic preventive care. In terms of costs, the costs of Managed Care Plan are lower.

A Managed Care Plan is a good choice if you (or your dependents) don’t have major health problems, are not concerned about who provides you medical services, or have to keep tabs on your medical costs.

Of course, this was just a very basic overview of the two types of health insurance plans. You can research these two plans and study them more deeply.

After deciding if you want a Managed Care Plan or Indemnity Plan, the next step you need to take is choosing the right health insurance company to provide you the health coverage you need. There are many health insurance companies today – from the famous corporate giants to the small, single-owned business.

You need to thoroughly research these companies before you make a decision. You can use the Internet to research companies, ask others for recommendations, and read literature so you can understand each insurance company’s claims filing procedures. Armed with the necessary information, you’ll be able to choose the right health insurance company for you and your family.

Apollo is one of the leading insurance companies that have created a niche for themselves in the health insurance industry. With good health care insurance plan, one can have access to the best healthcare without fearing the financial strain. In today’s time diseases are spreading like anything. With the need of healthcare, medical expenses are also increasing day by day that may go out of the planned budget. In insurance industry, there are many insurers standing with numerous insurance plans in India and a promise to offer a best deal in insurance. Problem is what will be the best option and which health insurance plans would suit the specific requirement of self. Due to all above mentioned reasons, Apollo Munich come up with some health insurance policies that are tailor made to suit your as well as your family’s requirements and to cover the medical expenses. Following are these health plans with other details:

Apollo Munich maxima:

This policy is a very good comprehensive health plan that takes care of most of the expenses related to the treatment taken at hospital as well as home. It also covers out-patient costs like expenses on dental treatment, contact lens, spectacles, etc. It pays for 140 day care procedures that do not require hospitalization. There is no maximum age for renewal of this health policy.

Apollo Munich easy health:

Easy health is a basic health policy that covers medical expenses of policy holder. This plan can be takes for individual and for entire family as well. It offers insurance cover for treatment against illness, accident or emergencies. It offers portability benefit, according to which, any existing health insurance policy in India can be shifted to the Apollo with accrued benefits of the policy.

Apollo Munich easy health family:

Apollo easy health plan family is a plan that offer cover to the entire family at affordable premiums. The plan covers hospitalization expenses, day care procedures, domiciliary treatment, maternity expenses and a lot many expenses. Optional cover for critical illness is also offered with the plan.

Apollo Munich insure health:

Apollo Munich insure health is a basic health policy that covers expenses when the insured is hospitalized. The policy can be issued on the spot for standard cases without undergoing any medical check-up. It also covers Ayurvedic, Unani and Homeopathic treatments.

Apollo Munich optima cash:

It is a cash benefit policy which pays for various expenses on hospitalization. Under this health policy, a daily cash amount to cover sickness, accident, day care, convalescence, parent accommodation costs etc incurred by policy holder or its family. For claim, no medical bills are required.

Life Insurance Corporation of India ( LIC) is launching its new non-linked health insurance plan ‘Jeevan Arogya’ from tomorrow offering comprehensive hospitalisation benefits for the family of the principal insured.

The feature of this plan is that it offers to cover parents and in-laws of the principal insured besides spouse and minor children, Senior Divisional Manager Sudhakar Joshi told mediapersons.

He said this is a defined benefit policy meaning that benefits are fixed in terms of policy conditions and are payable irrespective of the actual amount spent on treatment.

Of all types of insurance, health insurance is the most controversial because of the conflict between the insurance company’s need to remain afloat and the customer’s need to have insurance. Insurance companies’ commissions on health plans are very low, thus some companies struggle to make a profit. It used to be that the premiums paid by younger, healthy clients were low compared to those paid by elderly clients. The reason for this was so that the insurance company could sustain the output in claims of the elderly clients. However, these days, the premiums are the same for a completely healthy young adult as they are for an elderly man who just had by-pass surgery.

Since we are already dealing with this kind of scenario, what we can do now is change the public’s perception of it. Connect yourself with companies whose employees need a health plan. Go to crowded areas and advertise. Give out flyers and hang banners. Offer free medical check ups upon signing up. Give the public a chance to like you and the insurance company you are representing. If you’ve done this already, sustain the relationship.

Listen to what people have to say. Once common complaint is that insurance companies do not announce that they have increased the rates of their insurance premiums. This defeats the purpose of giving that extra service to the customers. Inform them in advance and let them know why there is a need for an increase.

Do not charge people different rates. This gives them the feeling that they are being fairly untreated and that the insurance companies are just after the profit and not the welfare of its customers.

When a claim is made, particularly for a very sizeable amount, help out in processing the paperwork. Do not let bureaucracy eat up the service so that the one making the claim will just eventually give up. This used to be a common practice in the insurance business and should never be repeated.

And lastly, try to help out those self-employed individuals who are applying for health insurance. Complaints about not being able to accommodate the self-employed are common because health insurance companies are too busy accommodating those employer-sponsored clients. Remember, those self-employed individuals may eventually strike it big. Or maybe they are already big and are just fishing for an efficient health insurance company.

The economy has seen better days that’s for sure, but the cost of Health Insurance continues to rise. If you are like me, then you are looking for a cheap health insurance plan, or at least to reduce what you are already paying.

There are two major ways that you can do this. The first is by looking at the type of policy that you are currently under.

If you have an individual policy there is always the possibility of joining a group to go under a group policy. If you have a family you can change from Individual policies to a family one. The will reduce your payments.

You can also look at policies with a higher deductible, meaning you will have to pay a larger cost before the insurance company pays.

Although this will reduce the amount you pay on a monthly basis, it does carry a risk if you should require a greater level of care or treatment.

The other way is to search the marketplace for the best deals. The prices of similar policies can vary greatly with different providers. This is because each provider will specialize in a different niche of policy and provide cheap deals in that particular niche.

To check the whole marketplace for the best deal used to take a lot of time and was also difficult to do, you could never be sure that you had found all the best cheap health care providers.

However, thankfully now they have developed comparison sites which collate all of the providers by state and policy type, so you can be sure you have all the best low cost medical insurance in one place.

There is an Indusian proverb that rainbow colors are beautiful if you are healthy! And it is fact that without health everything is seemed faded and nonromantic. This is very true (and honestly speaking) that private clinics are becoming giants industries where major pool of our income goes for our medication, consultation and expensive medical tests. Every magazines are filled with some bad news of new sorts of diseases and very little good news of their remedies.
Mostly states are providing complete health protection to all citizens but this is also facts that even US or the most pretty rights giver countries have the most expensive private hospitals too, where patients are operated on very much high worth. Most of countries or organizations are also protecting their citizens / employees in their health insurances through group insurances but really it can’t fulfill the actual treatment. So the conclusion comes out that health insurance is necessary same like life insurance or else!

Actually it is type of insurance where the insurer pays the medical bills of the insured person if the insured client becomes sick or has an accident and admitted in hospital. Health insurance is covering a large variety of expenses like, hospital expenses, medical tests bills, consultancy fees of the doctors, operation cost, post-operation expenses and even after discharge from hospital house nurse costs too.

In health insurance mostly following cases are included:

• Normal or Hazardous illness: Routine illness, like viral diseases and sicknesses are covered and in major operations like cordial cases, transplantation of organs is also dealt in this section.
• Accident surgeries: When insured person has an accident and he / she rushed in hospital then also all medical expenses are billed by insurance company.
• Dental cases: The most controversial part of health insurance industry because every day the complaints are registered from the insured parties that they (insurance companies) are not protecting in this regard, and they are facing great difficulty. But it is quite suggested to you that before underwriting of your health insurance you must clear this point with your agency.
• Cancer or Tumor Cases: In condition to that if you have no pre-existing condition of cancer or tumor then health insurance is also covering all expenses during your treatment and operation.
I am suggesting to you as a consultant of insurance info that beside your primary plan, if your pocket let you then you must entertain another plan for your health. Because additional plans which were added in your primary plan like life insurance are not covering your whole expenses. I’ve suggested lot of my clients to do so and they have really taken great benefit as per my advice. So do not let all on your additional sickness plan, but buy another health insurance. Hope that you will remember me in your well wishes.