Health insurance in recent times has become an essential part of everyone's life. With the rising healthcare costs, availing of quality healthcare can leave a family financially struggling. Therefore, with the right health insurance
you can ensure to avail quality treatments without burning out your savings completely.
Health policy purchases in India are steadily increasing, but there is still a long way to go. According to the most recent NFHS-5 survey, 41% of Indian families have at least one individual covered by a Medical Insurance plan, up
from 28.7% in the previous NFHS-4 study. Because of the pandemic, the Indian population has realized the value of health insurance. However, it is a crucial tool for protecting yourself and your family during times of medical emergency.
Ideally, a policyholder must compare Health Insurance Plans in order to make the best possible purchase for oneself and their family. There are certain points to keep in mind while comparing health insurance. For instance, compare
health insurance, the entire package, and not just one component of the policy. The ideal step for a policyholder is to compare online health insurance plans based on premiums, coverage, services, inclusions, exclusions, and
claim settlement. Yes, we understand it is a lot of work! This is why here we are, we will guide you on how to go about comparing health insurance plans in India.
Looking to buy Health Insurance? Find complete details in one go!
Health insurance is an agreement between the insurance company and the insured, where the insurance company provides financial coverage for medical expenses in case the insured falls ill or meets with an accident. A health insurance policy
provides cashless hospitalization, in-patient, and out-patient hospitalization, critical illness benefits, accident coverage, organ donor expenses coverage, day-care treatments, OPD coverage, domiciliary hospitalization, senior citizens
coverage, and coverage for your dependent parents and children. Health Insurance in India also provides you with tax exemptions under section 80D of the Income Tax Act.
To avail the coverage against medical expenses, the policyholder needs to pay a specific amount (monthly, quarterly or annually) which is called a premium. The premium of the health insurance plans differs from person to person and
depends on certain parameters such as your age, sum insured chosen, lifestyle etc.
Snapshot of Medical Insurance in India
The standard eligibility criteria and features for health insurance in India are depicted below for better understanding.
Entry Age
Minimum Entry Age :Adult: 18 Years Child: 91 Days Maximum Entry Age Adult: 65 Years Child: 25 Years
Health Insurance companies in India provide numerous medical insurance policies with regard to the needs of an individual as well as families. Let us compare health insurance policies to understand their advantages in detail.
An individual and family plan that covers all day care treatments, modern treatments, comes with a safeguard add-on and provides annual health check-ups.
A flexible and comprehensive health plan, securing your today & tomorrow. With 'Reserve Benefit' features, this plan grows unused policy amount @6% interest rate.*
An ideal health plan for people with a pre-existing critical illness or a family history of critical illnesses. Get comprehensive coverage for 15 critical illnesses.
Unique Features
One-time lump sum payment
No medical checkup up to 45 years
Lifelong renewability
Critical Illness Policy (Pros)
In- Patient Hospitalization
High Cover at Low Premium
1 or 2 Year Policy Period
End Stage Liver Failure
No Cover ceasing age
Critical Illness Policy (Cons)
10 Lakh Fine on Wrong Claim
Tuberculosis Not Covered
PED after 48 months
Kaposi's sarcoma Not Covered
Lymphomas in brain Not Covered
Critical Illness Policy (Other Benefits)
3 Variants (Silver, Gold, Platinum)
Two Year Policy Period
Guaranteed Renewal for Life
Loading on Renewal
Individual and Floater SI Options
Critical Illness Policy (Eligibility Criteria)
Entry Age - 5 Years
Max Entry Age - 65 Years
SI - 1 L to 50 L
Waiting Period - 90 Days
Star Cancer Care Gold (Pilot Product)
Covers the risk of spreading/recurrence of first cancer (metastasis) & second cancer (second malignancy)
Created for young individuals under 40 years of age. It also offers various benefits such as discounts on renewals, incentive-led wellness programs, lowest waiting periods.
A complete health insurance policy that covers you and your family with a wide range of SI (3 Lakh to 1 Crore) and continues to give you more benefits.
Unique Features
Covers a maximum of 6 members
Unlimited SI restoration
Coverage for modern treatments
Active Health Essential
This is a plan that provides coverage for Covid-19 hospitalization and chronic diseases
Provides coverage only to an individual and covers medical expenses such as hospitalization for injuries and illnesses, surgery costs, room rent, daycare procedures, and more.
Covers the medical expense that occurred due to an accident while providing coverage to the policyholder in case of partial disability, permanent disability, and accidental death
This form of medical policy in India operates on both a cashless and reimbursable basis up to the sum insured selected by the insured individual. It is a basic health insurance plan that individuals must own for
their health care.
It is a lump sum benefit-based health insurance plan and pays you in one go. This type of medical health insurance policy is beneficial for dealing with endless medical expenses arising out of critical ailments
like Cancer, Paralysis, etc.
Having dedicated Medicare in India for you and your family not just protects you from unannounced medical emergencies, but also comes with several benefits. The benefits one can avail of are countless. Explore the major advantages of having
an effective medical insurance policy.
Cashless Treatment
No cash payments are required to settle medical bills. Your insurance provider will pay the cost of your medical treatment when hospitalized in a network hospital.
Pre & Post Hospitalization Expenses
Any medical expenses incurred before and after the hospitalization will be covered by the sum insured under your health insurance policy.
Tax Benefits
Health Insurance offers tax benefits under section 80D of the Income Tax Act, 1961.
No Claim Bonus (NCB)
The policyholder gets the extended coverage amount for not making any claim in a policy year.
Free Health Check-Ups
Insurance companies offer free health checkups, motivating the policyholder to maintain a healthy lifestyle.
Domiciliary Hospitalization
Covers medical expenses generated while receiving medical treatment at your home if you are unable to reach a hospital for a justifiable reason
Lifetime Renewability
Get your policy renewed for a lifetime without any restriction on the age limit.
AYUSH Treatment
Coverage for the expense related to Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy (AYUSH) treatments
Restoration of Sum Insured
Allows you to refill your sum insured in case it is exhausted in a policy year.
Additional Rider Benefits
Riders allow the policyholder to enhance the basic coverage of their chosen Health Insurance plan. Medicare can be customized as per your healthcare needs.
Read below the list of health riders available under the various health insurance plans for an informed decision:
Add-on Covers
What is Covered?
Maternity Cover
Expenses related to pregnancy, childbirth, and the vaccination of newborn babies
Personal Accident Cover
Expenses of accidental injuries including disability, death, etc.
Reduction in Waiting Period Cover
Reduces the waiting period for Pre-Existing Diseases
Room-rent Cover
Flexibility to increase your policy's sub-limit for hospital room rents or opt for no sub-limit at all
Hospital Daily Cash Cover
Provides a daily cash allowance to the insured to take care of additional expenses such as food, travel, etc. while he/she is in the hospital
Air Ambulance Cover
Air ambulance cost generated for shifting the insured in case of a medical emergency
Zone Upgrade Cover
Offers additional financial coverage based on the zone in which the insured is hospitalized
Reasons to Buy a Medical Insurance in India
Medical care is costly in the country and it is essential that you provide your family with a financial cushion in case of any medical emergency. We have mentioned below the top reasons to invest in a good medical insurance policy.
Affordable medical care Investing in a good medical policy will provide you with a wider network of cashless hospitals and also increase your chances at availing the best medicare across the country without
any stress of finding a good hospital or a good doctor.
Cover against life-threatening diseases Medical insurance policy offers riders as well as inbuilt critical illness coverage in medical policies. The plans enable you to seek the best medical care against serious
illnesses such as paralysis, stroke, cancer, cardiovascular diseases, and more.
Tax Exemption Mediclaim policies offer tax exemption benefits under section 80D of the Income Tax Act. Insurance holders can avail of the tax benefit and utilize medical insurance policies as a way of not just
protection but tax savings.
Safeguard your hard-earned savings Medical Insurance in India enables policyholders to obtain the best medical care for a variety of health concerns without depleting their hard-earned cash. You do not have
to be concerned about the cost of pricey treatments in the event that advanced treatments or urgent sickness treatments are required.
Wellness Benefits Multiple health policies in India offer customers wellness benefits that encourage them to take care of their health in a better way and invest in a healthy lifestyle. Earning points after
completion of various tasks such as 5k steps in a day and regular doctor visits can be redeemed at the time of policy renewal as premium discounts.
Health Insurance Companies
Finding a reliable insurance company is as critical as purchasing suitable medical insurance plans to avail of all the expected benefits of the policy. Here are the 28 most trusted health insurance providers in India.
Why Compare Health Insurance Plans Online in India ?
Every individual must compare health insurance plans online before investing as it saves time, money, and efforts. Here's why comparing health insurance/medical plans online is the way to go.
Quick glance at policy quotes for free: Before you invest money in any insurance plan you should get to know the health insurance premium for a particular policy. Free quotes are available on PolicyX as well as on the insurer's
website.
Understand plan features: Take the time out to check the features and quotes of a health insurance policy on the internet on your smart devices. This helps you to save your precious time wasted in visiting an agent's office
to buy or select a health plan.
Make confident decisions: After gaining the necessary information available online, you can go through inclusions and exclusions, compare, and find the best match.
Benefits of Comparing Health Insurance Online
Listed are the benefits of spending some time researching online and comparing health plans before buying them.
Buy the best health insurance plans: An individual understands their health risks and future possibilities and hence prepares accordingly to secure themselves and their loved ones. This is how you make an informed decision
and buy what you need rather than buying what you are sold.
Find plans worth your money: When you aim to buy the cheapest health insurance plan you miss out on essential features and coverage that a good health insurance plan offers. Comparing health insurance plans online helps
you find a plan that balances not only your health needs but also your health requirements.
Analyze health insurance plans to your satisfaction: Analyzing all the factors in a health insurance plan online such as room rent, waiting period, claim process, and more gives you a sense of satisfaction before buying
the plan.
What to Keep in Mind When Comparing Health Insurance?
The following pointers play a significant role when you select a health insurance plan. Make sure you go through all these factors when comparing a health insurance plan for yourself:
Adequate amount of sum insured: This refers to the maximum amount that the insurer will cover for you. Very often, a policy that provides a low premium might also offer a low SI. Before you get insured make sure you choose
an adequate sum insured to provide you with assistance in time of need.
Coverage provided by an insurer: It is something that goes beyond the sum insured. It comprises of the inclusions and exclusions in a health insurance policy along with the sum insured.
PAN India network hospitals: While comparing a health insurance plan you must go through the list of network hospitals provided by the insurer. It is essential to invest in a plan that provides PAN India network hospitals
for maximum efficiency in any case of emergency.
Co-pay clause in a policy: A co-pay clause in a policy indicates that you have to contribute towards claim settlement. A co-pay has an upside as it reduces the policy premium by sharing the burden of claim settlement between
you and the insurer.
Add-ons and riders: Many times insurers provide additional features as a part of a comprehensive health insurance plan which can, in turn, make insurance premiums expensive, which is why you must choose your add-ons carefully
while comparing health insurance plans.
Why is Health Insurance Important in India?
Now-a-days, quality healthcare treatment is quite expensive. Getting admitted to a hospital to obtain good healthcare service has the potential to wipe off all your savings in a few days.
Health Insurance is essential, as it safeguards your family from unexpected medical bills that may cause a strain on your finances. When you invest in medical insurance, you don't need to worry about your bank balance during medical emergencies.
Below mentioned are some of the reasons why you should consider buying health insurance.
Medical Inflation: Getting admitted to the hospital due to an illness or injury can punch a hole in your pool of savings. Moreover, with an increase in healthcare services, a hospitalization of mere 3-4 days can derive
big hospital bills. Therefore, it becomes necessary to have a health insurance plan that will not only cover the hospitalization expenses but will also offer several benefits.
Coverage for the Whole Family: With family health insurance, you can protect the medical expenses of your whole family. You can even cover your parents, spouse and children as well.
Avail Quality Treatment: With a health insurance plan, one can avail of timely and quality healthcare services. One can choose a hospital from the list of the impaneled network hospitals, and get the treatment. One can
avail of treatment up to the chosen sum insured.
Secure Your Savings: By buying comprehensive health insurance, one can ensure that all their healthcare requirements are taken care of, and when required, he will get coverage for the medical expenses. Thus, the policyholder
can fully concentrate on his/her treatment without worrying about the hospital bills.
Covers for critical illnesses: In many cases, unfortunately, people are diagnosed with critical illnesses affecting various organs of the body. With a customized health plan, if you suddenly get any critical ailment, it's
covered after 30 days. These include illnesses related to the heart, lung, liver, kidney, diabetes, blood pressure & many more.
Steps To Select Ideal Medical Policy in India
Health needs vary from person to person, and what may be best for one may not suit the other. However, to meet your ever-changing requirements, you need to be vigilant while selecting your ideal health plan.
At PolicyX.com, we have listed down a few steps that may help you to choose a perfect health plan for yourself and your family.
Step 1: Choose your Ideal Health Insurance Company: Go with a company that offers cashless facility, has good customer service, comes with a decent market share and offers a wide range of health products that will cater
to the different needs of customers.
Step 2: Evaluate your Needs and Requirements: Once you have chosen your ideal company, evaluate your family's health needs thoroughly, and decide the type of plan you want to buy. For example, if you have a nuclear
family (yourself, wife and a kid), a family floater plan with Rs.5-10 Lakhs coverage will be enough (generally speaking). However, if you want to cover your
parents (above 60 years) under health insurance, senior citizen plans will be a good option.
Step 3: Compare Coverage and Premiums: After you have shortlisted a few plans on the basis of your needs and requirements, just compare their benefits with each other. Ideally, it's recommended to go with a plan that
offers maximum benefits (including decent coverage) and doesn't hurt your wallet.
Which Factors Affect Health Insurance Premium?
Health Insurance in India today is beginning to gain a lot of importance. In urban India with the lifestyle choices made by individuals, life is becoming highly unpredictable. Amidst a pandemic, people have realized why they should compare the
best health insurance best suited to their requirements before purchasing one. While you buy online health insurance the insurance companies do a thorough check of your health profile. Based on their review, they fix the premium charges. Here
is a list of factors that insurance companies consider affecting the premium cost.
Age: This is one of the critical factors that affect the premium amount. The insurance companies follow the rule of thumb wherein the higher the age, the higher the premium.
Past Medical Records: If you have a history of suffering from illnesses or have a pre-existing disease, then your premium will be higher. However, if you have a healthy life, then your premium will be lesser.
Smoking Habits: Smoking increases health risks, and insurance companies view smokers as high-risk insurance buyers, and therefore charge high premiums.
Body Mass Index: Insurance companies charge people with higher BMI a higher premium than those who have a normal BMI as higher BMI individuals are more likely to suffer from various diseases like diabetes, and heart-related
problems requiring medical care.
Your choice of Plan: When you compare health insurance the coverage you choose to include in your health insurance will affect your premium. If you have chosen add-on covers, your premium will increase.
Co-pay Feature: If you opt for co-pay, the premium will be less. In co-pay, for any claim, you pay a specific portion of the claim, and the insurance company gives the rest.
Common Myths related to Health Insurance in India
Online Health Insurance is the most sought-after solution for the Indian population yet it is one of the most misunderstood financial products which stems from a lack of knowledge and understanding about insurance in general.
Below listed are a few common myths about health insurance policies, and the reality behind them.
Myth 1
Health Insurance is not needed when I am young and healthy, I will think about it when I am old!
Fact
The truth is that when an individual is young and healthy it is the best time to compare health insurance and buy the best option available. Young insurance holders can get coverage at an affordable premium because the risk of getting
hospitalized at a young age is minimal.
Myth 2
The best health insurance policy is the one that is cheap!
Fact
Individuals make their insurance buying decision based on the premium. While it is fine to buy health insurance with a low premium, you must be aware that such policies have restricted offerings and may not be able to provide you with
adequate coverage according to your needs.
Myth 3
I am a smoker. I can not buy Health Insurance.
Fact
Most health Insurance providers are concerned about pre-existing medical conditions. If you are a smoker and have suffered from any medical condition due to smoking you must disclose this as a pre-existing medical condition. The insurance
providers may charge a higher premium but they will not deny health cover.
Myth 4
My health insurance benefits will be void if I do not renew the health insurance on time.
Fact
This is in fact one of the most common myths when individuals purchase Health Insurance. It is of utmost importance that you renew your health insurance every year before the due date to maintain the continuity of health benefits. However,
every insurance provider has a grace period of 30 days wherein you can renew your policy.
Myth 5
My employers have provided me with Health Insurance, I do not need to buy another one.
Fact
Multiple organizations do provide employees with health insurance, however, don't ignore the importance of having individual health insurance. Even though corporate policies are useful, they might not extend cover to your aged parents/dependents.
In addition to that, your policy will only be in effect till the time you are employed with the organization.
Medical insurance premium depends on various factors:
The number of members covered under a single policy
The age of the eldest member
Sum Insured
Types of features chosen in a plan
Get an approximation of medical insurance premiums based on different age groups and Sum Insured.
If you are 26 years old, Click Here
AGE 26
Sum Insured
1 Adult
2 Adult
2 Adult+1 Child
2 Adult+2 Child
Average Premium
5L
7844
11172
13539
16491
12,262
10L
9999
14459
17539
21014
15,753
If you are 36 years old, Click Here
AGE 36
Sum Insured
1 Adult
2 Adult
2 Adult+1 Child
2 Adult+2 Child
Average Premium
5L
8938
13146
15534
18225
13,961
10L
11563
17257
20291
23436
18,136
If you are 46 years old, Click Here
AGE 46
Sum Insured
1 Adult
2 Adult
2 Adult+1 Child
2 Adult+2 Child
Average Premium
5L
14145
21980
24097
27061
21,821
10L
18527
29402
32010
35476
28,854
If you are 56 years old, Click Here
AGE 56
Sum Insured
1 Adult
2 Adult
2 Adult+1 Child
2 Adult+2 Child
Average Premium
5L
24025
36009
38395
41899
35,082
10L
31274
47808
50984
55302
46,342
Check Your Premium
Health Insurance Exclusions List
Every Health Insurance Plan comes with a certain list of illnesses or treatments that are not covered by them. These exclusions may vary from company to company. As per IRDAI, some common diseases or medical conditions that are not covered under
health insurance plans are:
Pre-existing diseases (PEDs), however, some companies cover PEDs after a waiting period
Eyes and Dental care, but some new plans have started covering them
Suicidal injuries or intentional self-injuries
STDs like HIV
Health issues that arise due to the consumption of alcohol or drugs
Health issues or injuries caused due to war, act of war, nuclear, chemical, or biological weapons
**To know all the exclusions of your plan, refer to the product brochure or directly get in touch with your respective insurer.
How much Coverage do I Need?
Choosing an ideal Health Insurance plan among all the available plan in itself is a difficult task. But once you choose a plan suiting your requirements, you need to evaluate the coverage you need
It is imperative for you to choose the amount that provides you with more coverage and financial security. Do not forget to compare the health insurance plans.
In the below section, we have shown some of the pointers that will help you to figure out how much health insurance you'll need to protect yourself and your family:
Decide who all should be insured in a single health insurance plan.
We would recommend buying plans for your immediate family and a separate plan for your parents as:
A medical policy generally covers up to 2 adults and 4 children up to the age of 18**.
Your parents' needs are quite different from yours in terms of Sum Insured, medical history, pre-existing conditions, requirements of co-payment, etc.
**For some companies children up to the age of 21 can be covered under a policy
Below are the recommendations of minimum covers you may require based on your age and city of treatment.
Health Insurance Coverage (Metro)
Metro
Above 35
10 Lacs
Metro
Below 35
5 lacs
Health Insurance Coverage (Non - Metro)
Non - Metro
Above 35
7.5 Lacs
Non - Metro
Below 35
5 lacs
Why Buy Health Insurance Online?
Below-mentioned are the benefits of buying a Mediclaim insurance plan online:
Time-Saving By opting for buying a Health Insurance scheme online, you may save a lot of time by not having to talk with an insurance representative in person. Rather, you can easily get
the quotes for plans immediately via the internet in a fraction of the time. As a result, the selection you make online is not influenced by the agents.
Easy to Compare It is considerably easier to compare all the available Medical Insurance in India online than it is to do so on paper. All insurers, in general, give thorough information
on their websites. For more convenience, you can turn to PolicyX.com and can compare all the Health Insurance Plans in India on one platform.
24*7 Availability Unlike Insurance agents, the digital world is not time-bound, which means that you can seek any information on your mediclaim insurance anytime round the clock.
DiscountsBuying your policy online will help you to avail of similar or better benefits at a lower premium, as many Health Insurance providers offer several discounts when you buy health
insurance online, from their website.
Helps in Making an Informed DecisionAll necessary information, such as health insurance benefits, policy quotations, exclusions, terms and conditions, and so on, is easily available
online, making it much easier to compare different health insurance policies. Having all the information in front of you helps you in making the right decision.
With PolicyX.com offers a simple process to buy online health insurance in just 4 easy steps and you are all good to have online health insurance.
Go to the top of this page, and fill in the form 'Get Quotes from Top Insurers'.
Compare quotes from different insurers.
Choose your preferred plan and proceed to buy.
Pay the premium online and the policy will be shared at your email address.
Documents Required to Buy Health Insurance Online
New Insurance Policy
Port Insurance Policy
Renew Insurance Policy
1. Duly-filled policy form 2. Medical history of pre-existing diseases
1. Address and ID proof 2. Medical history of pre-existing diseases 3. Previous policy documents
1. Existing policy number 2. Medical history of pre-existing diseases
**Document requirement may vary from insurer to insurer
Claim Settlement Process in Health Insurance
Health insurance companies offer 2 types of claim settlement processes to choose from at your convenience. Read along to explore what is Health insurance claim settlement process:
Planned Hospitalization
Informed the insurer before 48 to 72 hours of hospitalization
The insurance company to provide a confirmation letter
Submit your health card and confirmation letter
The insurer will settle the medical bills directly with the hospital
Emergency Hospitalization
Informed the insurer within 24 hours of hospitalization
Fill and submit the cashless claim form
Submit other necessary documents
The insurer will send an authorization letter to the hospital
The insurer will settle the medical bills directly with the hospital
Reimbursement Claim Process
Intimate the company within the designated timeline
Collect original discharge summary and medical bills and submit with the claim form
Fill and submit the claim form along with ID proof (Voted ID/Aadhaar Card/PAN Card) and canceled cheque
The insurance company will evaluate the documents.
The insurance company will initiate the reimbursement proces.
Certified by IRDAI, PolicyX.com is a one-stop-shop for all your insurance-related needs.
IRDAI Approved The Insurance Regulatory Development Authority of India (IRDAI) is a regulatory body created to protect the policyholder's interest. PolicyX.com follows all the guidelines
and protocols approved by the IRDAI.
Free Comparison Service With PolicyX.com, you can easily compare the best Health Plans in India without paying the extra amount.
Compare 15 Companies in 30 SecondsWith us, you can compare up to 15 companies in just a few seconds.
Buy Insurance withing 5 minsWith PolicyX.com, you can buy your policy online without any hassles. We offer an easy 4-step online buying process that allows you to buy your policy without
any troubles.
24*7 Customer ServiceThe experts of PolicyX.com are always available to resolve any of your insurance-related queries.
Free Future Claim AssistanceOur team will assist you at every step of your claim process. Be it claim intimation, documentation, or any other process, we are always there to help.
Health Insurance News
19 May
Can a smoker buy a term insurance policy?
A smoking person can buy a term insurance policy. The premium rates of an insurance policy for smokers are higher as compared to the ones which are for non-smokers. This is because people who smoke are vulnerable to numerous cardiovascular diseases and are more likely to go through heart related and other health issues.
19 May
Surrogacy expenses to be covered in health insurance: IRDAI
The IRDAI has asked all the insurance providers to cover surrogacy expenses in their health insurance products for the families who might require the coverage due to maternity complications. The insurance regulator has directed all insurers to comply with the Surrogacy Act, 2012 and ART (Assisted Reproductive Technology) Act, 2021.
19 May
Star Health and Allied Insurance Company to set up 1,000 new sales offices
The standalone private insurance provider, Star Health and Allied Insurance Company has announced that they plan to set up 1000 new offices to improve their insurance penetration in rural India.
08 May
Aditya Birla Health Insurance launches a new campaign, ‘KyaPeecheChhodaHai’.
Aditya Birla Health Insurance has unveiled its new campaign in the name of ‘KyaPeecheChhodaHai’. The campaign features real customers as its brand ambassadors. The campaign promotes the concept of “Health Assurance not just Health Insurance”.
08 May
Moove announces partnership with Reliance General Insurance
Moove is a mobility fintech firm in India which has joined hands with Reliance General Insurance and plans to provide comprehensive health insurance plans to its customers and their families. The product provides up to 2 lakhs of coverage including the policyholder, his/her spouse and up to two children.
Health Insurance: FAQs
1. What is the average cost of health insurance in India?
In India, the insurance providers use factors like age, health condition, coverage and number of individuals to be covered to determine the premium of a health plan. Let's take the help of an example for better understanding.
At the age of 25, if you want to purchase an individual health plan of the sum insured (Rs.10 lakhs), your premium amount will be Rs.608/month. Whereas, if you want to purchase an individual health plan of the sum insured (Rs.10
lakhs) at the age of 50 with smoking habits, your premium amount will be Rs.1831/month.
If you want to opt for a higher sum insured or require a family floater plan, take the help of our health insurance premium calculator to know
the correct amount.
Note -The premium values keep on changing. Please check the amount first before investing in a plan.
2. I am already getting Health Insurance from my office? Do I still need to buy another health policy?
It's good if you are getting health insurance from your company. But what if you decided to switch the job? You will lose all the benefits. Hence, chances are that you will need to pay a higher premium for your new policy because
of your growing age. Therefore, to be on the safer side, you can buy a separate health plan that will ensure your and your family's healthcare needs are looked after even if you no longer have your company's health policy.
3. Can I buy Health Insurance for my parents if I am not earning, because my parents are not literate enough to understand the insurance plans and documentation?
Yes, the premium can be paid by any earning member of the family. Documents should be submitted by that member only.
4. If I am interested in alternative therapies, how does health insurance work?
It varies from plan to plan
5. What is the process of updating the nominee, address, phone number and any other information in my policy documents?
You can update at the time of renewal of your plan. Also , if required you can update the nominee, address, phone number by endorsement, or by sending Email to insurer
6. What all factors need to consider while choosing Health insurance plan?
You should consider the claim process, family health insurance, selecting the correct Sum Insured, network hospitals, maternity benefits, pre and post hospitalization, renewal, free medical check ups.
7. Can I use the Health Insurance Portability feature as an insurance policy holder?
You can transfer your existing health insurance policy to another company using the health insurance portability feature.
However, portability is possible only at the time of existing policy renewal.
8. What is the right age to buy health Insurance?
There is no right age to buy health insurance, however, most insurance companies suggest purchasing health insurance early in life as you get a low premium amount and are less prone to critical illnesses and hospitalization as
compared to someone in their 50s and 60s.
9. Is it mandatory to take a medical test before buying health insurance?
Medical tests are not required before buying a health insurance policy. However, most health insurance providers require medical test reports if the age of the applicant is above 45 years. Health Insurance providers also reimburse
the cost of these pre-policy medical check-ups depending on the plan you chose.
10. Can I buy more than 1 health insurance policy?
Yes, you are eligible to purchase more than one health insurance policy in India. If you are covered by your corporate health insurance, you can purchase additional online health insurance including your spouse and children.
11. Do insurance companies cover pre-existing diseases?
It varies from insurer to insurer. Some companies do not provide cover for pre-existing diseases, while others cover the same after a waiting period of 4 years (this may vary as per the company).
12. How many insurance companies provide a vast network of hospitals for cashless hospital facilities?
In India, all 24 IRDA registered insurers provide a vast network of hospitals in their health insurance plans. However, before purchasing a health insurance plan from any life insurance company it is important to cross-check their
network hospitals and cashless hospital services. Insurance experts like PolicyX can help you chalk out the best picks.
13. Does health insurance policy offer coverage to diabetes patients?
health insurance provides cover to diabetes patients and related complications. However, it may vary from insurer to insurer. Most of the companies provide the same after a waiting period of 4 years.
14. Does health insurance in India cover any kind of diagnostic charges like MRI, X-Ray or any other body scans?
Yes, health insurance covers the medical tests and scans for the inpatient treatment, i.e., during hospitalization for at least 24 hours.
15. Does Health Insurance Plan Covers Ayurveda & Other Treatments?
Nowadays, many health insurers have started offering AYUSH Benefit to their policyholder, that covers Ayurvedic Homeopathic, Unani and Siddha treatment. By availing of this benefit, one can get their inpatient Ayurvedic, Yoga and
Naturopathy, Unani, Siddha and Homeopathy treatment reimbursed by the health insurer.
16. Does Health insurance also cover the consultation fee?
Yes, But it can vary from plan to plan.
17. Does Health insurance cover Mental health treatment?
Yes. But it varies from plan to plan
18. Does smoking affect health insurance premiums?
If you are a smoker, you will end up paying higher premiums as you are subjected to greater medical risks.
19. What factors affect the premium payable for a health insurance policy?
Age is the biggest factor that determines the premium payable. The older you are, the higher is your premium, as you'll be more prone to illness. Your medical history is another factor that will go into determining the premium.
If you don't have any medical history, the premium would be naturally lower. You are also eligible for a discount on the future premium payable if you have not claimed in the previous years.
20. What is GST and how does it impact health insurance?
Goods and Services Tax (GST) - implemented in 2017 - is an indirect tax levied on the sale of goods and services in India. It has replaced many indirect taxes imposed on goods and services by the State and Central Government. Before
the new tax regime, the service tax rate applicable to health insurance was 15%. However, with the implementation of GST, the tax rate has been raised by 3% placing health insurance in the 18% tax bracket.
21. How is the policy premium determined?
Age and gender of the eldest member of the family, city, are the primary pricing factors. With the help of actuarial statistics, these determine your life expectancy. The benefit and Sum Insured you need are the next greatest factor.
22. Can I cancel my Health Insurance Plan? If Yes, then how can I get my premium back?
Yes, you can cancel your Health Insurance. A free look period of 15 days from the date of policy receipt is available to the policyholder to review the terms and conditions of the policy. If the policyholder is not satisfied he
may seek a cancellation of the policy. In such cases the Health Insurance Company allows the refund of the premium after adjusting the cost of pre-acceptance medical screening and underwriting cost.
23. What are the modes of payment available for the payment of premium from PolicyX?
PolicyX allows the customers to pay the premium of the Health Insurance Company from various modes of payment such as credit cards, debit cards and internet banking.
24. Will the policy help me to save money if I am healthy and not claiming the assured amount?
No, it can not be your saving.
25. What is cashless hospitalization in health insurance?
It means that all in-patient treatment charges availed by the insured are paid by the insurance company directly to the hospital.
26. What if I get admitted to a non network hospital?
If you get admitted to a non network hospital then you can avail the treatment and file a reimbursement claim after getting discharge.
27. What if I don't claim within the policy period, do I get the refund of my money?
If you donot raise any health insurance claim during the policy years, you cannot get a refund on the premium paid. The only situation you will get a refund is when you cancel your policy during free look period.
28. If I forgot to renew the policy on time, will the company deny to renew it later?
Most insurance companies will not deny the renewal within the grace period, which is usually of 15-30 days from the date of expiry of the policy. However, you will not be entitled to any coverage for the period during which the
insurance company did not receive any premium. Also, the policy would lapse if the premium is not paid within the grace period.
29. What are pre and post-hospitalization in health insurance?
Pre-hospitalization expenses are the expenses incurred before getting admitted to a hospital. Post-hospitalization expenses refer to follow-up tests and consultation treatment charges incurred after getting discharged from the
hospital.
30. Will a waiting period be applied if the policyholder increases the sum insured during policy renewal?
The insurer will apply a fresh waiting period on the sum increased by the policyholder(depending on the policy terms). You must check the health insurance policy terms first before increasing the sum insured.
31. What happens if the health insurance medical policy lapse during hospitalization?
The policyholder will not be able to avail the health insurance policy benefits if the policy lapses during hospitalization. So, it is always recommended to renew the health insurance policy benefits timely.
32. Can I get a discount on the renewal of the policy with the same Health Insurance Company?
Yes, you may get a discount on the health insurance premium in the form of a No Claim Bonus if you renew your policy with the same insurer. The only condition provided is ‘the policyholder must not raise the claim during the previous
policy tenure’.
my experience with PolicyX has been overwhelmingly positive. Their excellent service, a wide range of insurance options, user-friendly website, competitive pricing, and trustworthiness make the...
Bhaskar Dubey
Bhopal
May 1, 2023
PolicyX consistently offers competitive pricing for insurance policies. I have found their premiums to be reasonable, often lower compared to other sources.
Piyush Kumar
Indore
May 1, 2023
PolicyX offers a wide range of insurance options from various insurance providers. Their website allowed me to compare different policies and choose the one that best suits my needs and budget.
Sakshi
Chandigarh
May 1, 2023
PolicyX has consistently provided me with excellent service. Their team is knowledgeable, responsive, and always ready to assist.
Aniruddh Singh
Chandigarh
May 1, 2023
I am satisfied with the customer service provided to me when I had a small query regarding my HDFC health insurance policy. Thank you to the customer support team of PolicyX
Smita Patil
Bengaluru
May 1, 2023
I have availed health insurance services from PolicyX in the year 2021 and I must say that they are reliable and have supported me with claim settlement without any delay.
Durgesh Kumar
Jaipur
March 25, 2023
Best health insurance claim mere leg ka surgery hui h 22.03.2023 ko 2 hrs m claim approval aa gya tha mari policey ko 7 month hi hua h mera claima 44000 rupaye ka tha 100% company n pay kiya h ...
Ajay Kapoor
Delhi
March 24, 2023
Bad experience operate 6th jan 2023 my claim no 31418820 Ajay Kapoor mob 7838722273 till date 24 mar 2023. No reimburse ment amount 67367 not recd . always demand new query. I send you after op...
Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance
subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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