The India Medical Insurance provides a cushion against medical exigencies. Insurance cover is provided in case of hospitalization, other medical expenses etc. For detailed understanding of India Medical Insurance it is mandatory to have a clear idea about the basic concept of insurance.
The concept of insurance is intimately related to security. Insurance acts as a protective shield against risk and future uncertainties. Traditionally, a risk-averse behavior has been a characteristic feature of Indians who preferred a “low & certain” disposable income to a “high & uncertain” one.

Hence, it goes without saying that the above proposition is even more justified when it comes to Medical Insurance. By virtue of various exogenous factors like rising medical expenses (comprising costs of medicines, consultation fees of Doctor's, hospital charges etc.), unavailability and exorbitant costs of patented drugs and emergence of diseases hitherto unknown.

Bearing the above situations in mind and anticipating the rising prospects of India Medical Insurance , leading insurance companies of India , are coming out with new plans to meet the requirements of their customers. Such plans are especially formulated for the older generation who have retired or will retire in the near future. Companies belonging to private as well as public sector are urging the people belonging to younger generations to start planning early in their professional career for their life post retirement. Such strategic planning would lead them to enjoy an even level of disposable income throughout their lives barring unforeseen circumstances.

The health-care policies offered by the leading medical insurance companies belonging to both public and private sector are coming up with a variety of lucrative offers as follows:

• Cashless system, where the policy holder can get medical treatment and diagnostic assistance in the hospital entirely at the expense of the insurance companies (subject to the sum ensured and premium paid every year)
• In case if a policy holder has not received any above mentioned treatment, he/she will be entitled to a free medical check-up (again subject to the sum ensured and premium paid every year).

The leading medical insurance companies in India are:

In Public Sector: New India Assurance Company Limited and United India Insurance Company Limited.

In Private Sector: ICICI Lombard Plans ( Health Plans), Bajaj Allianz (Health Guard) and HSBC ( First Health).

With the passage of time the India Medical Insurance promises to become one of the leading segments of the Insurance Sector in India.