Indemnity

An individual indemnity-based health insurance policy is one that reimburses the insured for the cost of medical expenses up to the sum insured in the policy. The insured is required to submit hospital bills with the details of expenses incurred during the stay.

A family floater health insurance plan is similar to individual health insurance plans, except it extends to and provides protection for the entire family. In case of multiple illnesses, the sum assured is divided between the family members to entertain multiple claims simultaneously.

For people above the age of 65, the senior citizen health insurance plan provides financial aid to cover medical treatments. They usually offer critical illness cover, cashless hospitalisation, pre-existing conditions cover and a higher sum assured, ensuring that they have the right coverage at the right time.