2 types of health insurance plans for seafarers
- Indemnity Plans
- Defined-benefit Plan
Five Indemnity Health Insurance Plans
Indemnity plans are the traditional health insurance that covers your for hospitalisation expenses up to the sum insured. These plans include:
- Mediclaim Insurance
- Individual Coverage
- Family Floater Coverage
- Senior Citizen Coverage
- Unit Linked Health Plans
Three Definite-Benefit Plans
On the other hand, under a defined-benefit plan, the insured is compensated a lump sum amount on the detection of illness. These plans include:
On the other hand, under a defined-benefit plan, the insured is compensated a lump sum amount on the detection of illness. These plans include:
- Critical Illness Plan
- Personal Accident Plan
- Hospitalisation cash benefit plan
Indemnity Health Insurance
1. Medical Insurance
Mediclaim insurance compensates you for the hospitalisation expenses incurred due to illness or accidental stay. It includes in-patient expenses such as nursing charges, surgery expenses, doctor’s fee, oxygen, anaesthesia etc. This insurance is known as Mediclaim Policy that is available in the market as group mediclaim, individual medical insurance overseas medical insurance etc.
2. Individual Insurance
Individual insurance policy is meant for an individual only. Under this policy, you are entitled to receive the incurred amount during a hospitalisation. The insured can claim up to the basic sum insured. With this policy, the covered members get individual sum insured. For instance, if you own an individual health cover of Rs. 1 lakh where your spouse is also covered, you both can claim up to Rs.1 lakh, individually.
3. Family Floater Plan
This policy comes with a twist and meant for the entire family. You can cover your complete family under a single plan with Family Floater health insurance policy. The sum insured is equally divided among the members. One positive thing is that the premium that you shell out with these plans are comparatively lesser than the individual or mediclaim policies.
1. Medical Insurance
Mediclaim insurance compensates you for the hospitalisation expenses incurred due to illness or accidental stay. It includes in-patient expenses such as nursing charges, surgery expenses, doctor’s fee, oxygen, anaesthesia etc. This insurance is known as Mediclaim Policy that is available in the market as group mediclaim, individual medical insurance overseas medical insurance etc.
2. Individual Insurance
Individual insurance policy is meant for an individual only. Under this policy, you are entitled to receive the incurred amount during a hospitalisation. The insured can claim up to the basic sum insured. With this policy, the covered members get individual sum insured. For instance, if you own an individual health cover of Rs. 1 lakh where your spouse is also covered, you both can claim up to Rs.1 lakh, individually.
3. Family Floater Plan
This policy comes with a twist and meant for the entire family. You can cover your complete family under a single plan with Family Floater health insurance policy. The sum insured is equally divided among the members. One positive thing is that the premium that you shell out with these plans are comparatively lesser than the individual or mediclaim policies.
4. Unit Linked Health Plans
Unit Linked Plans, commonly known as ULIPs are investment cum insurance plans that come with the dual benefits of investment and insurance. With this plan, a portion of paid premiums are utilised in the stock market and the insured is offered with insurance coverage. The returns are based on how the market performs.
5. Group Mediclaim
Group Health Insurance plans are gaining popularity among the medium or large scale enterprises which are offered by the employers. This policy is helpful in retaining the talent within an organisation. With health insurance plan becoming imperative, the employers cover their employers for a financial crisis and prudence.
Unit Linked Plans, commonly known as ULIPs are investment cum insurance plans that come with the dual benefits of investment and insurance. With this plan, a portion of paid premiums are utilised in the stock market and the insured is offered with insurance coverage. The returns are based on how the market performs.
5. Group Mediclaim
Group Health Insurance plans are gaining popularity among the medium or large scale enterprises which are offered by the employers. This policy is helpful in retaining the talent within an organisation. With health insurance plan becoming imperative, the employers cover their employers for a financial crisis and prudence.
Definite-Benefit Plans
Critical Illness Plan
This plan is especially design to treat certain specific illness. With lifestyle disease are on the rise, covering yourself against these illnesses has become imperative. As treating these can be an expensive affaire, especial for a middle-class family, buying critical insurance you can mitigate those expenses up to an extent. On the detection of an illness, it pays a pre-decided amount towards treatment, irrespective of pre-or post hospitalisation expenses. The major diseases that are covered most of the critical illness plans.
Hospital Daily Cash
This coverage is offered by some of the health as an in-built cover under their health insurance coverage. Under this policy, the insured is paid with a daily cash allowance up to a certain limit, apart from the hospitalisation expenses.
Personal Accident Plan
This policy covers the owner/driver against an accidental injury or death. A lump sum amount is paid to the insured or its family in case of death, loss of income due to permanent partial or total disability.
Critical Illness Plan
This plan is especially design to treat certain specific illness. With lifestyle disease are on the rise, covering yourself against these illnesses has become imperative. As treating these can be an expensive affaire, especial for a middle-class family, buying critical insurance you can mitigate those expenses up to an extent. On the detection of an illness, it pays a pre-decided amount towards treatment, irrespective of pre-or post hospitalisation expenses. The major diseases that are covered most of the critical illness plans.
Hospital Daily Cash
This coverage is offered by some of the health as an in-built cover under their health insurance coverage. Under this policy, the insured is paid with a daily cash allowance up to a certain limit, apart from the hospitalisation expenses.
Personal Accident Plan
This policy covers the owner/driver against an accidental injury or death. A lump sum amount is paid to the insured or its family in case of death, loss of income due to permanent partial or total disability.
Hospital Daily Cash
This coverage is offered by some of the health as an in-built cover under their health insurance coverage. Under this policy, the insured is paid with a daily cash allowance up to a certain limit, apart from the hospitalisation expenses.
Personal Accident Plan
This policy covers the owner/driver against an accidental injury or death. A lump sum amount is paid to the insured or its family in case of death, loss of income due to permanent partial or total disability.
This coverage is offered by some of the health as an in-built cover under their health insurance coverage. Under this policy, the insured is paid with a daily cash allowance up to a certain limit, apart from the hospitalisation expenses.
Personal Accident Plan
This policy covers the owner/driver against an accidental injury or death. A lump sum amount is paid to the insured or its family in case of death, loss of income due to permanent partial or total disability.
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