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Insurance Article

Development in health insurance policies within last few years

June 30 2011

 As a result of globalization, there have been massive changes in the medical insurance policies over the years. It is due to the likelihood of the changes in the medical insurance policies that you often come across several types of plans which are designed to meet the health-care requirements of individuals. Today, there are medical insurance schemes for the elderly people, family members, groups as well as individuals. Every kind of medical insurance policy schemes comes with its own unique set of terms and conditions and for getting full benefits, you need to study them in detail.

Group Health Insurance:

This type of health insurance scheme is offered by the organization to their employees and their immediate family members. This type of medical insurance policy comes with number of benefits. However, the negative aspect of this type of policy is that after you are relieved from the job, the health benefits cease automatically. Therefore, at the end, you will be without a job and even without insurance coverage. There are some of the organizations which also provide continued group medical insurance schemes that sustain years after the employee has left the organization. In India, group health insurance is a recent addendum which has given medical insurance a more dynamic appeal.

Individual Health Insurance:

The individual health insurance policy is designed to give individuals best health coverage to every single individual family member. In fact, it is a stand-alone policy which brings separate benefits to each and every member of family. The individual medical insurance scheme may be an overall expensive affair but at the end offers more comprehensive and detailed coverage to the individuals who buy it. Most often this kind of insurance policy will give comprehensive coverage that will also include serious ailments.

Family Floater Medical Insurance Policy:

A family health insurance policy will provide comprehensive coverage tour every member of family. It is an affordable insurance policy which will offer more to your family members. The family floater medical insurance policy will serve as the boon when family members have individual health insurance plans. The only disadvantage of going for the family floater policy is that the policy renewal time for this medical insurance policy is considered when the senior most member of the family will reach the maximum renewability age. Moreover, it is extremely difficult for the senior members of family to buy the family floater medical insurance policy at higher age.

Medical insurance has undergone sea change in the last few years and in order to secure best and purposeful insurance coverage, you need to shop around. And why not, there are so many offers which are already lurking out there on the Internet! You have to pretty sure that the medical insurance policy meets your requirements from every perspective.


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