Personal Health Insurance
Personal Health Insurance commonly known as Mediclaim offers coverage for medical expenses arising due to hospitalization, illness, or accidents. Once insured, all or part of your hospital bills are covered by the insurance company, giving you peace of mind and financial security.
Types of Personal Health Insurance
Individual Health Insurance
Coverage for One Person Only
This plan is designed for a single individual. It covers:
● Hospitalization expenses
● Room rent
● Surgeries and treatment costs
● Accidental injuries
Family Floater Health Insurance
One Policy for the Entire Family
This policy provides a shared sum insured that can be used by any or all members (spouse,children, parents, etc.).
It is cost-effective compared to buying separate individual policies for each family member.
Group Health Insurance
Affordable Health Coverage for Employees
Typically offered by employers, this plan covers a group of employees under one policy at low premiums. Some policies may even offer coverage for employees’ dependents.
What to Look for in a Health Insurance Policy?
Insurance Cover
Opt for a cover of ₹10 lakh or more to meet rising medical costs.
Room Rent Limit
Prefer policies with a single private room limit or no cap at all this affects the claim amount significantly.
Copay Clause
Look for policies with 0% co-pay, so you don’t have to share the bill during claims
Waiting Period for Existing Diseases
Choose a plan with the shortest waiting period (1–2 years) for pre-existing diseases.
Cashless Hospital Network
Ensure the insurer has cashless tie-ups with hospitals near your location for hassle-free treatment
Premium vs. Value
Don’t pick a plan based on low premium alone—evaluate benefits vs. price for true value.
Key Benefits of Health Insurance
● Financial Security
A major illness or accident can wipe out your savings. Health insurance helps safeguard your finances.
● Mental Peace
Knowing you’re covered during emergencies reduces stress and uncertainty.
● Covers Both Illness & Accidents
From hospitalization due to accidents to critical illnesses like cancer or heart attack you’re protected.
● Coverage for Existing Diseases
These are covered after the waiting period (usually 1–4 years), ensuring long-term protection.
● Cashless Treatment
Get treated at network hospitals without paying upfront. The insurance company directly settles the bill.
● Tax Benefits
Enjoy tax deductions up to ₹75,000/year under Section 80D of the Income Tax Act.
Health Insurance FAQs
Health insurance is a protective financial tool that covers medical expenses due to illness, accidents, surgeries, or hospitalizations. With a CoverBee Health Insurance policy, you pay a fixed premium and, in return, we ensure that your health-related costs are covered, either through cashless treatment at network hospitals or reimbursement.
Medical emergencies can strike without warning. Health insurance ensures you don’t have to dip into your savings or take loans to afford quality healthcare. With rising treatment costs, a health cover helps you and your family access the best care without financial stress.
We offer a wide range of plans tailored to your needs:
● Individual Health Plans
● Family Floater Plans
● Senior Citizen Plans
● Critical Illness Plans
● Hospital Daily Cash Plans
Each plan is designed to cover medical expenses based on your life stage and lifestyle.
A family floater policy covers your entire family under one single sum insured. Any member can use the cover during the policy year, making it cost-effective and convenient.
Cashless treatment means you don’t need to pay upfront for hospitalization at network hospitals. CoverBee settles the bill directly with the hospital (subject to policy terms), giving you peace of mind during emergencies.
Depending on the policy chosen, CoverBee health insurance may cover:
● Pre and post-hospitalization expenses
● In-patient treatment
● Surgeries
● ICU charges
● Day-care procedures
● Critical illness lump sum benefits
● Hospital daily cash benefits
Common exclusions include:
● Pre-existing diseases during the waiting period
● Cosmetic or dental procedures (unless due to accident)
● Self-inflicted injuries
● Treatment under the influence of drugs or alcohol
● Alternative therapies not covered under policy
Most plans have a 30-day waiting period from policy start, except for accidental hospitalization. Pre-existing diseases usually have a waiting period of 2 to 4 years depending on the policy.
Yes, as per IRDAI guidelines, you can port your existing health insurance to CoverBee without losing renewal benefits or waiting period credits, subject to underwriting and continuity terms.
Yes, premiums paid for CoverBee health insurance are eligible for tax deductions under Section 80D of the Income Tax Act—for self, spouse, children, and parents.