Micro health insurance plans provide insurance coverage to individuals living in rural sectors. The plan provides extremely good coverage to the rural population at an affordable premium rate. The main objective of this plan is to provide financial support to the people of rural areas so that they can get the best treatment without using their hard-earned savings.
Some of the salient features of these schemes are as follows:
- Sum insured ranges from Rs 1 lakh to Rs 5 lakh for the PM-JAY scheme.
- A person gets a limited sum insured under this plan, which ranges from Rs 1 lakh to Rs 5 lakh.
- This insurance is highly affordable as premium rates are on the lower side.
- This policy comes with the tenure of a year only.
- This policy covers all the family members if taken on a family floater basis.
- No medical check-ups are required before buying this plan as the sum insured is low.
- The policyholder should be 65 years or less.
- One can renew this plan lifelong without any difficulties.
Micro health insurance plans are especially very beneficial for Indians, as more than 65% population of our country is from rural areas.
