What is Health Insurance?

Health insurance is a type of coverage that helps pay for medical expenses arising from illnesses, injuries, or other health conditions. It typically covers hospitalization, doctor consultations, diagnostic tests, medicines, and other healthcare services.

    Type of health Insurance

  • Individual Health Insurance: Covers a single person under one policy.
  • Family Floater Plan: Provides coverage for the entire family under a single plan.
  • Critical Illness Insurance: Specifically designed for severe diseases like cancer, heart attack, etc.
  • Senior Citizen Health Insurance :Tailored for individuals aged 60 and above.
  • Group Health Insurance :Offered by organizations to their employees.

Benefits of Health Insurance

  • Takes care of hospitalization, treatments, and other medical costs.
  • Allows you to avail of treatment at network hospitals without paying upfront.
  • Premiums paid for health insurance are eligible for tax deductions under Section 80D of the Income Tax Act.
  • Many policies offer free annual health check-ups.
  • Reduces the financial burden of severe diseases.

Eligibility Criteria

  • Usually 18 years for adults.
  • For children, entry age starts from 90 days (under family floater plans).
  • Typically up to 65 years for most policies.
  • Must be a resident of the country where the policy is being purchased.

Common Policy Terms

  • Premium:The amount you pay to the insurance provider, either monthly, quarterly, or annually, to maintain your health insurance coverage.
  • Sum Insured: The maximum amount the insurer will pay for covered medical expenses during the policy period. Any expenses beyond this amount must be borne by the policyholder.
  • Waiting Period: The time you must wait before certain benefits of the policy become active. Common waiting periods include
  • Pre-existing Conditions: Medical conditions that existed before purchasing the policy. Coverage for these conditions typically begins after completing the waiting period.

Policyholder's Responsibilities

  • Timely Payment of Premiums
  • Provide Accurate Information
  • Understand Policy Terms and Conditions

Frequently Asked Questions

Health insurance helps manage unexpected medical costs, reduces out-of-pocket expenses, and ensures you receive quality healthcare without financial stress.

The waiting period is the time during which certain conditions (e.g., pre-existing diseases, maternity benefits) are not covered. This typically ranges from 1 to 4 years.

Yes, but usually after a waiting period of 2–4 years, depending on the policy terms.

Contact Information

Customer Care Number:+91 7835009173

Email: support@crediant.in

Website: https://www.crediant.in/