HEALTH INSURANCE POLICIES :
The health insurance policies available in India are:
(a) Mediclaim policy (individuals and groups)
(b) Overseas Mediclaim policy
(c) Raj Rajeshwari Mahila Kalyan Yojna
(d) Bhagyashree Child Welfare Policy
(e) Cancer Insurance Policy
(f) Jan Arogya Bima Policy
Mediclaim Policy (individuals and groups)
Mediclaim policy is offered to individuals and groups exceeding 50 members. It covers the hospitalization for diseases or sickness and for injuries. Under group medi-claim policy, group discount is allowed to groups exceeding 101 people. The medical expenses will be reimbursed only if the insured is admitted in the hospital for a minimum duration of 24 hours. Cost of treatment includes consultation fee of doctors, cost of medicines and hospitalization charges. Health insurance in India is available at very economical rates. It is very popular among professionals like Chartered accountants, Advocates, Engineers etc. It is very suitable for self-employed persons because it covers risks against several general and serious diseases.
Overseas Mediclaim Policy
In 1984, the Overseas Mediclaim Policy was developed. This policy will reimburse the medical expenses incurred by Indians upto 70 years of age while traveling abroad. The premium will be charged based on their age, purpose of travel, duration and plan selected by the insured under the policy. This policy is provided is provided to businessmen, people going on holiday tour, traveling for educational professional and official purposes.
Raj Rajeshwari Mahila Kalyan Yojna
It is a personal accident policy offered by an insurance company for the welfare of women. It is offered to women residing in rural and urban areas. Women between 10-75 years of age are eligible for this policy irrespective of their occupation and income level.
Bhagyashree Child Welfare Policy
It is offered to girls between 0-18 years. The age of the parents of the girls shouldn’t be more than 60 years. It provides coverage to one girl child in a family who loses her father or mother in an accident.
Cancer Insurance Policy
It is designed for cancer patient’s aid association members. The persons insured under this policy will pay premium to their association along with the membership fee. This policy will offer coverage to the insured in case he develops cancer. All the expenses incurred for treatment of cancer not exceeding the sum insured will be paid directly to the insured person.
Jan Arogya Bima Policy
This policy provides medical insurance to poorer section of the people. This policy covers illness like heart attack, jaundice, food poisoning, and accidents etc. that requires immediate hospitalization.