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Health Insurance

Health insurance is an insurance policy that protects the policyholder and his/her family against the medical costs that arise due to an accident, illness or on the diagnosis of any serious disease. The health insurance plan offers cashless treatment with network hospitals or reimbursement facilities for the medical cost of the treatment. Under section 80D of Income Tax Act, 1961, you can apply for tax deductions on paying health insurance premiums.

Some Of The Top Health Insurance Plans In India

Health insurance comes with numerous benefits and riders offered by the different insurance companies in India that make it difficult to choose the right policy as per the requirements.

PolicyX.com has picked up details about the best health insurance policies in India which stand superior to parameters such as eligibility, features, coverage, affordability, limits, and exclusions.

Entry Age

  • Min - 91 days
  • Max - 65 years

Renewability

  • Lifetime

Sum Assured

  • (Rs. 3 Lacs - 50 Lacs)

Network Hospitals

5000+

Entry Age

  • Min - 91 days
  • Max - No limit

Renewability

  • Lifetime

Sum Assured

  • Upto 6 crore

Network Hospitals

5420+

Entry Age

  • Min - 16 days
  • Max - 65 years

Renewability

  • Lifetime

Sum Assured

  • (Rs. 12 Lacs - Rs. 25 Lacs)

Network Hospitals

9800+

Entry Age

  • Min - No limit
  • Max - No limit

Renewability

Sum Assured

  • (Rs. 3 Lacs - Rs. 1 crore)

Network Hospitals

10000+

Entry Age

  • Min - 91 days
  • Max - No Limit

Renewability

  • Lifetime

Sum Assured

  • (Rs. 3 Lacs - Rs. 50 Lacs)

Network Hospitals

5700+

If you are not satisfied with the above plans, we have also prepared a detailed list of the top 10 insurance plans in India 2020. You can take a peek at it.

Benefits Of Health Insurance Policy

Insurance companies offer advantages to policyholders. They are as follows:

Cashless Treatment

Cashless Treatment

It allows the insured to get the required treatment in network hospitals without paying a single penny during hospitalization up to the sum assured limit. The insurance company pays on your behalf and allows you to have a complete focus on your treatment.

Pre & Post Hospitalization Expenses

Pre & Post Hospitalization Expenses

The expenses prior to hospitalization and after discharge from the hospital up to a specific period are covered by health insurance policy only if the expenses are associated with the illness subject to terms and conditions of the insurance company.

Tax Benefits

Tax Benefits

On buying a health insurance policy, you will be liable to receive tax advantages for the premiums paid under Section 80D of the Income Tax Act, 1961. One can avail tax benefits up to a certain limit depending upon the age of the policyholder and his/her parents (if any).

Daily Hospital Cash

Daily Hospital Cash

This benefit is very useful during hospitalization as this will provide daily cash to a certain limit to take care of the additional expenses in the hospital like food, traveling, etc. Usually, the benefit amount is up to Rs.2,000 per day but it may vary in case of accidents and ICU procedures.

Organ Transplant Expenses

Organ Transplant Expenses

The costs for the transplantation of an organ are bearable by the insurance company. Health insurance covers the surgery expenses related to organ donation. However, the costs for complications after surgery, organ donor expenses, and medical tests are not covered under the same.

No Claim Bonus

No Claim Bonus (NCB)

It is a discount that you will receive from the insurer for every claimless year. NCB comes as a discount on the payable premium at the time of the renewing policy or whenever you want to increase the Sum Assured amount. At the time of renewal, you must check for No Claim Bonus benefit.

Free Health Check-Ups

Free Health Check-Ups

To motivate the policyholders towards a healthy life, insurance companies offer free occasional medical check-ups. Depending on the company and the type of policy, you will be eligible for a master health check-up.

Lifelong Renewability

Lifelong Renewability

This keeps you insured for the long term. Most of us try to follow a healthy lifestyle but illness or accidents could take us by shock. Therefore, having a health insurance policy acts as a blessing in hard times.

Restoration Benefit

Restoration Benefit

Once the sum assured amount is completely used, the insurance company will restore the amount automatically and you don't have to pay any additional cost for the benefit. The plans with restoration benefits are expensive as compared to normal health insurance policies and are applicable as per the clauses of the policy.

Types of Health Insurance Plans

To deal with the different needs of customers, there are multiple forms of health insurance plans available. Such plans are mentioned below:-

Individual Health Insurance

Individual health insurance covers the health expenditure of a single person or an individual, but there's always flexibility of availing the bigger sum assured. The premium that we pay annually depends on the amount of sum assured.

Critical Illness Plan

Critical Illness plan offers a fixed benefit/payout in case of any critical illnesses specified under the policy. With the lump sum benefit, you will be able to pay the huge hospitalization costs and get the treatment on time.

Senior Citizen Health Plan

Senior Citizen Health Plan is designed especially for the old age people who are above 60 years of age. This plan is to fight against all medical contingencies during old age. As per the Insurance Regulatory and Development Authority of India (IRDA) regulations, every insurance company must insure people up to the age of 65 years.

Maternity Health Insurance

Maternity health insurance is offered by almost every health insurance company that covers pre and post-natal care, child deliveries, and sometimes vaccination expenses of newborn babies.

Family Floater Health Insurance

Family Floater Health Insurance allows to insure all family members under a single policy. All the family members can enjoy the benefit of the entire sum assured. The amount of the premium paid is less as compared to individual plans. The policyholder along with the spouse, dependent children and the parents can be included in the plan.

Unit Linked Health Plan (ULHP)

Unit Linked Health Plan (ULHP) is a combination of health insurance and investment. Along with the health protection, ULHPs will help you in building a corpus that can be used by the investor to meet expenditures that do not get covered under health insurance plans.

Things To Keep In Mind While Buying Health Insurance

In order to choose the best health insurance plan, there are a few factors that should be kept in mind before buying a health insurance plan. The below-mentioned factors will help you in selecting the best plan according to your requirements:

Coverage Provided

Different insurers provide a variety of facilities and covers to the policyholder. It is vital to check all the facilities and the coverage provided so as to fulfill the requirements for treatment. Compare policies and make a checklist for your needs and choose the best plan accordingly.

Reliability of the Company

The policyholder should go through the insurance company's website and its details before choosing a health insurance plan. The profile and the history of the company should be checked along with the customer reviews to make the right choice.

Sum Assured Amount

The principal point to be noticed while buying health insurance is the amount of Sum Assured offered by the insurer to the insured. If you or your family members are suffering from any specific disease, you might have a fair idea of the amount to be chosen for future health costs. Hence, it is important to choose the sum assured wisely.

Add-On Benefits & Plans

Companies offer numerous riders and additional benefits to the customer that actually boosts the coverage, scope and advantage of the policy resulting in a complete health cover protection shield. You may also add a top-up plan with the respective coverage by paying an extra premium.

Option For Cashless Claim

Check whether the insurance company is providing the cashless claim facility as it is an important feature of the policy that will help in times of emergency hospitalization.

Why Compare Health Insurance With PolicyX.Com?

PolicyX.com is a one-stop shop for all your insurance related needs. PolicyX is Insurance Regulatory and Development Authority of India (IRDAI) certified web insurance aggregator company (License Number: IRDA/WBA17/14).

You can Compare health insurance plans from top insurance companies with PolicyX and buy the best health insurance plan as per your needs. The team of PolicyX makes sure that you are getting the best deal within your budget; away from fake promises and products. We try to provide the easiest buying process. Our systems and teams are well-equipped to help you with the buying procedure from starting till the end. Let us look at the following key highlights about PolicyX:

  • PolicyX.com offers a free comparison service with unbiased quotes.
  • Allows the insured to compare health insurance plans from over 10 companies within 30 seconds. You can buy the best health insurance policy according to your needs in 5 minutes.
  • By providing basic information, we will search for the most suitable health plans for you and offer relevant quotes on the basis of features, cost, riders, exclusions, benefits, and much more.
  • It allows the customer to buy the desired plan from the comfort of home in a few minutes by filling up the online proposal form. Now, all the health plans are available online and you can get your policy instantly by making an online payment.
  • PolicyX.com provides plan comparison from leading brands such as Religare Health, Max Bupa, Bharti Axa, Tata AIA, Apollo Munich, Star Health, etc.

Steps To Buy Health Insurance Plan From PolicyX

  • STEP 1: Click on the "Get Quotes" section present on the bottom-right side of this page.
  • STEP 2: Fill in the basic details like name, mobile number and click on "Proceed".
  • STEP 3: Choose the desired option from the drop down tab showing "Select Cover for" i.e. for 1 adult, 2 adults and 1 child, etc.
  • STEP 4: Fill in your 'Date of Birth', 'Email ID', 'City' to proceed and click on "View Quotes".
  • STEP 5: Compare and select the desired plan and click on "Buy This Plan".
  • STEP 6: Fill the form with your medical history, identity proof, and necessary documents and click on "Save & Continue".
  • STEP 7: Make the payment via different available online payment methods.
  • STEP 8: Done! You are insured now.

The team of PolicyX.com will instantly share policy documents over email. (*Note: Medical tests would be done according to the plan features and insurance company's norms and conditions).

How To Choose The Right Health Insurance Company?

With the available health insurance companies in the market, a lot of research is required to select the best among them. That research mainly depends on a few factors which are listed below:

Reputation of the Company: The reputation of the company plays an important role. It is advisable to go for a company that carries a good brand image. Sound research will be required that will help you to choose the right health insurance provider.

Financial Stability: You must check the financial stability of the company. You can check the Credit Rating Information Services of India Limited (CRISIL) rating. Go for a company with AAA Rating as it is considered to have the highest financial strength to meet its obligations.

Product Portfolio: Don't forget that insurance is a vast industry and keeps on changing by time. It does not remain the same all the time and so does your needs. That's why it is important to go for a company that offers a wide range of helpful insurance policies caters to the different needs of customers.

Smooth & Quick Claim Settlement Process: It is advisable to search for an insurance company that follows a simple and easy claim settlement process. During emergencies, it is crucial to settle the claims on time so as to seek proper healthcare facilities.

Customer Support Service: Pay attention to the quality of customer services of an insurance company, for that you need to check for the ratings and reviews of the customers for the services provided. Choose the company that offers online chat, email assistance, and phone assistance.

Insurance Advisor: Insurance is tough to understand by a common person. But now many insurance companies appoint insurance advisors who will help you in choosing an appropriate insurance plan according to your needs.

Feedback and Reviews: One of the most important and common aspects are customer ratings and feedback received by an insurance company. You can go through the Insurance Regulatory and Development Authority of India (IRDAI) website to check the number of complaints and resolutions against the insurance company.

How To Save Premium On Health Insurance?

Buy Early: It is advisable to purchase health insurance at an early stage of life as it will help you to secure your future with affordable premiums. As you grow up, you will tend to develop more diseases and health issues due to aging and that is why the premium is more when you buy a health insurance policy later in life. Insurance companies consider youth to be more healthy than the old age people (less chances of getting hospitalized = charging less premiums from the young policyholders).

Use Health Insurance Premium Calculator: It is important to calculate the premium amount as per your affordability for a specific term in order to buy a health insurance policy for your family. An individual can use the online health insurance premium calculators available in various websites of insurance and insurance web aggregator companies to check the premiums. Premiums depend on the health treatment needs and financial goals, hence comparison of premium amount with the different health plans of different companies is also crucial. The premium calculator asks for your basic details and displays all the information of a particular health plan. A simple and easy method of checking premium can save money.

Go For Family Floater Plan: Companies offer family floater plans to the customers as an advantage to cover all the members of the family under one and single insurance plan. If you buy a family floater plan then your family is covered in one plan and whenever any of the members require medical insurance you will be able to seek the same from the policy. In that case, the premium will get lower as there is only one premium against the whole family's security. In this way, you may choose this as an option to save premiums.

Choose Long-Term Plan: If you are choosing a long term policy tenure for a health insurance plan, the premiums for a long term policy is less than the premium for a short term insurance plan in India. Also, to minimize the amount, you can avail NCB (No Claim Bonus) during renewal for consecutive claim-free years. If you don't make any claim, the same discount will be applicable on your premium and become less than the actual amount.

Check Health Insurance Premium
Check Health Insurance Premium

Health Insurance Claim Settlement Process

The most important part of an insurance policy is the claim settlement process. People often worry about the claim settlements. Some insurance companies offer direct claim settlement process and some take the help of TPAs (Third Party Administrators) for claim settlement. The claim settlement process takes place in two forms which are mentioned below:

Cashless Claim

You can avail cashless treatment facilities only in the networked hospitals of the insurance company. The TPA must be notified beforehand in case of planned hospitalization, or within a specified timeframe in case of an emergency. The hospital's insurance desk helps with all the paperwork. The TPA has to approve the mediclaim amount, and the hospital will settle it with the insurer. There are likely to be exclusions i.e., expenses that the TPA won't pay. Such expenses must be settled by the patient directly at the hospital's cash counter.

Steps to follow:-

  • Inform the insurance provider on a call or through email.
  • In the case where the company is not responding through any mode of communication; contact PolicyX, call at toll-free number 1800-4200-269 or write an email to helpdesk@policyx.com.
  • PolicyX will help and guide you to settle your claims without facing any troubles.
  • Show the health card as provided by your health insurance company along with the identity proof.
  • The hospital will examine the identity of the policyholder and will submit the pre-authorization form to the health insurance company.
  • The insurance company will examine all documents, and if everything is fine according to their norms, then they will process the claim.
  • A few health insurance companies provide a field doctor to help you with the whole procedure.
  • After the completion of all formalities, the claim is settled as per the rules of the company.
and

Reimbursement Claim

The insurer can avail of the reimbursement facility both at networked and non-networked hospitals. Here, you can avail of treatment facilities and settle the bill directly with the hospital. You can then claim reimbursement of the expenses from the TPA by submitting relevant bills and receipts of treatment.

Steps to Follow- Reimbursement Claim

  • Inform the insurance company about your hospitalization as soon as possible.
  • In the case where the company is not responding through any mode of communication; contact PolicyX, call at toll-free number 1800-4200-269 or write an email to helpdesk@policyx.com.
  • PolicyX will help and guide you to settle your claims without facing any troubles.
  • Keep all your documents ready with the bills of hospitals.
  • Submit the documents along with the claim forms. Don't forget to attach the bills of hospitals.
  • The insurance company will check all the submitted documents and process the claim according to the terms and conditions of the health insurance policy.
  • After the completion of all formalities, the claim is settled as per the terms and conditions of the policy.

Claim Settlement Ratio Of Health Insurance Companies

Claim Settlement Ratio (CSR) is the ratio of the total number of claims to the total number of death claims received by the insurance company.

It is considered as an important factor because it shows the number of claims that an insurer has settled versus the rejected ones. With this ratio, you will be clear in choosing the right insurance company for your health plan. Always ensure that you are going for a high claim settlement ratio of an insurance company.

Claim Settlement Ratio of 2018-19*

Insurance CompaniesIncurred Claim Ratio (2018-2019)
HDFC Ergo Health Insurance Company (formerly known as Apollo Munich Health Insurance Company)63%
Bajaj Allianz General Insurance Co Ltd85%
Bharti AXA General Insurance Company89%
Cholamandalam Health Insurance Company35%
Manipalcigna Health Insurance Company62%
Future Generali Insurance Company73%
HDFC ERGO Health Insurance62%
Iffco Tokio General Insurance Company102%
Liberty Videocon General Insurance Company82%
Magma HDI General Insurance Company90%
Max Bupa Health Insurance54%
National Insurance Company107.64%
New India Assurance Company103.74%
Oriental General Insurance Company108.80%
Raheja QBE General Insurance Company33%
Reliance General Insurance Company94%
Religare Health Insurance Company55%
Royal Sundaram General Insurance Company61%
SBI General Insurance Company52%
Shriram General Insurance Company53%
Star Health Insurance Company63%
TATA AIG General Insurance Company78%
United India Insurance Company110.51%
Universal Sompo General Insurance Company92%

*Source IRDAI (Insurance Regulatory and Development Authority of India)

Documents Required For Claim Reimbursement

  • Proof of Age: PAN Card, School or College Certificate, Driving License, Passport, Voter ID, etc.
  • Photo Identity Proof: Aadhaar Card, PAN Card, Driving License, Passport, Voter's ID, etc.
  • Proof of Address: Ration Card, Bank A/C Statement, Electricity Bill, Passport, Voter's ID, Telephone Bill, etc.
  • Proof of Income: Employer's Certificate, Salary Slip, Form 16, etc.
  • Medical Checkup: If asked by the insurance company.
  • Photo Proof: Passport size photograph of the policyholder.

Health Insurance News

A Standard Health Policy (Arogya Sanjeevni) to Toll Out Soon. Here Are Its Details.

Friday, 31 January 2020

Today, the cost of a basic operation is like buying a budget four wheeler car. To protect investments, people prefer to buy health insurance. But they face a mammoth task of selecting one provider among the 100s. Different names/terms & conditions can mess with your head. To counter the problem, IRDAI has introduced a standard health policy- Arogya Sanjeevi. It will look after your essential health needs without adding many changes to policy’s wordings.

All insurance providers have to roll out this policy from 1st April 2020. To distinguish themselves, they have to add the wording (Arogya Sanjeevni) before their name. For example, Arogya Sanjeevani Policy Birla Sun Life Insurance. It's not just the name that this policy will attend. It will bring key features that are stated below:-

  1. The minimum & maximum sum assured amount will be INR 1 Lakh & INR 5 Lakh.
  2. The entry age will be 18-65 years & in family floater plans (for children), the entry age will be 3 months to 25 years.
  3. The policy will allow an annual renewal period with 30 days of the grace period.
  4. All the mandatory expenses such as Ayush treatment, hospitalization, cumulative bonus, etc will be covered by the policy.
  5. No optional covers & add-ons are available.
  6. The policy will only operate based on reimbursement. For example, the claim for the hospital bill will depend on the sum assured.
  7. The policy can be bought on two basis- individual & family floater.
  8. Each provider will offer mandatory covers in this policy that will be the same in the market. However, they can set the premium on their terms.

Apart from them, the providers can be generous and offer additional benefits such as higher sum assured & wellness. It will certainly make their customer happy.

Health Insurance FAQs

Before buying a health insurance plan, we are sure you must be having a lot many questions in your mind. Don't worry PolicyX.com is here to figure out the queries at its best. Let's go through some common queries:

Yes, there's no limit to the number of claims in a single year unless there is a specific cap laid down in the policy. The sum insured, however, is the maximum claimable limit under the mediclaim policy.

According to statistics, Rs 5 lakh family floater policy will cover self, spouse and one child will cost anywhere between Rs 10,000 and Rs 17,000 on an annual basis whereas Rs. 5 lakh individual health plan will cost a 35 year old Rs. 4,000-7,000 a year.

The difference between a mediclaim and health insurance policy is all about the coverage provided. Mediclaim is confined to hospitalization expenses and domiciliary care costs whereas health insurance provides full protection against the treatment, hospitalization, surgery expenses.

Therefore, health insurance is a better decision to secure your and your loved ones' future.

During Emergency Hospitalization you can claim for cashless treatment in the following ways:

  • Show your health insurance card in the hospital, containing policy number, insurance company name and the type of insurance policy.
  • Fill in the pre-approval form after which the person at the insurance desk will speed up your claim process.

A health insurance plan is for the future security and a smart investment financial plan. If you buy it early premiums will be low and can cover the diseases coming up in life. It is an absolute necessary and important but not mandatory plan in India.

As we have discussed above, it is important to buy health insurance at an early stage of life. If you are 25 years of age you should buy a health insurance plan to safeguard your health from future medical expenses.

Yes, it is possible to utilize your health insurance immediately after all the paperwork and documentation is done from the insurance company's end along with the payments. However, most companies offer the facilities after a certain waiting period.

Yes, every insurance company has a network of hospitals in which cashless treatment facilities are available to the policyholders.

It varies from insurer to insurer, most of the companies do not provide cover for pre-existing diseases but on the other hand, many companies cover the same after a waiting period of 4 years.

The policy can be renewed later if you pay your premium on time or within the grace period, which is usually 15 days from the date of expiry of the policy for most insurance companies. 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.

Yes, according to a circular issued by the Insurance Regulatory and Development Authority (IRDA), with effect from 1 October, 2011, the insured can transfer a policy from one insurer to another, and also from one plan to another. The insured will lose no renewal credit for pre-existing health conditions which he/she enjoyed in the incumbent policy. But the credit would be limited to the sum insured and the bonus eligible under the present policy. Check with your insurance company for the detailed clauses in this regard.

Some insurance companies reimburse general health checkup expenses usually once every 4 years.

Smoking has an adverse effect on health insurance premiums. This means that if you are a smoker, you end up paying higher premiums as you are subjected to greater medical risks.

In case you forget to pay your health insurance premiums, the provider gives you a grace period that usually varies from one to three months. However, if you fail to pay the premiums during this time as well, your insurance policy lapses and you are no longer entitled to the health insurance benefits of the policy.

Yes, 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.

Yes, health insurance covers the medical tests and scans for the inpatient treatment, i.e., during hospitalization for at least 24 hours. For outpatient treatment, out of the hospital cover for the same is not applicable.

A waiting period of 48 months is applicable to avail the maternity insurance benefits and cover. A cover of Rs. 25,000 in caesarean delivery and Rs. 15,000 is provided usually from a maternity health insurance plan.

These days, most insurers have arrangements with various hospitals spread across the country as part of a network. An individual, if policyholder under a policy which offers the cashless facility, can get treated in any hospital of the network without paying hospital bills because the same is paid directly by a third party administrator (TPA), on behalf of the insurer. However, all expenses beyond the sum insured or the ones not covered under the policy, have to be paid by the policyholder directly to the hospital. Cashless facility is not available if the hospital is not included in the network. In such cases, payment by the insurance company to the hospital is usually carried out on a reimbursement basis.

You can claim several tax benefits if you subscribe to a health insurance scheme. Such benefits are extended by section 80D of the Income Tax Act. Presently, subscribers to health insurance, who purchased the policy by a payment mode other than cash, are eligible for Rs 15,000 annual deduction from their taxable income for the payment of health insurance premium for self, dependent children, or spouse. The deduction is higher for senior citizens at Rs 20,000. Also, since the 2008-09 financial year, an additional deduction of Rs 15,000 can be claimed for mediclaim premium paid for parents. It's Rs 20,000 if parents are senior citizens.

Age is the biggest factor which determines the premium payable. The older you are, the higher will be your premium, because 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 eligible for a discount on the further premium payable for the years for which there has been no claim of the insurance money. Some insurance companies cover add-on benefits like free medical checkups and/or diagnostic tests in case of no claim.

Read the offer document/prospectus and understand it fully before signing on the dotted lines. What's not included will be clearly written in the prospectus. Any pre-existing illness, usually, is not covered under a policy. But read the offer document to understand what the insurer means by pre-existing illness. Also, the majority of the policies generally exclude certain types of diseases in the first year of coverage. A waiting period is also often imposed on such diseases. Some expenses not covered under most health insurance policies include cost of contact lenses, spectacles and hearing aids, dental surgery (unless it requires hospitalization), general debility, convalescence, venereal disease, congenital external defects, use of drugs and alcohol, intentional self-injury, expenses for diagnosis, AIDS, X-ray and/or laboratory tests not connected with the illness requiring hospitalization, treatment related to pregnancy or childbirth, including C-section, naturopathy treatment and others as deemed exclusive by the insurer.

As already said, there is usually a 30-day waiting period when you buy a new policy, starting from the day you enrolled in the health insurance scheme. During this period, the insurance company won't pay any hospitalization charges. But this is not applicable in case of an emergency hospitalization arising out of an accident. The waiting period is not applicable for renewal of the policy for subsequent years.

It's a medical condition or ailment that existed before you took the health insurance policy. This is a significant point in all policies because insurers don't cover such conditions within 48 months prior to taking the first policy. It means a pre-existing condition may be considered for payment, only after the completion of 48 months of continuous insurance cover.

Once an insurance claim is filed and settled, the coverage gets reduced by the amount paid on settlement. For instance, if you take an Rs5 lakh mediclaim policy in January, and in April, the insurance company pays? 3 lakhs towards your hospitalization and treatment, then you will be eligible for the balance Rs 2 lakhs as coverage for the remaining duration i.e., May to December

In a family floater scheme, a single policy covers the hospitalization expenses of the entire family. Such a policy has only one sum insured which can be utilized by a single or all members collectively in the family. The limit of coverage is capped at the sum assured. Family floater plans are considered better than buying a separate health policy for each member of the family. It takes care of all medical expenses, including surgeries, sudden illness, and accidents.

Women of all walks of life are now progressing and trying to maintain the fine balance between their personal and professional commitments. Hence, it is important that their medical needs are catered to. Various health insurance providers have now come up with unique health insurance plans that specifically cater to female medical conditions such as breast cancer, ovarian cancer, cervical cancer, complications during pregnancy, childbirth or other forms of critical illnesses. Some of the top companies that provide these kinds of health insurance plans are TATA AIG, Bajaj Allianz, etc.

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 State and Central Government. Tax slabs under GST have been fixed at 0%, 5%, 12% and 28%.

Before the new tax regime, the service tax rate applicable on 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.

Find Out What PolicyX Customers Says

February 11, 2020

Parshuram loke
Mumbai

Payment is done find PDF copy sent by me on your mail ID

February 6, 2020

Hashmot Ali
Guwahati

Hi

February 4, 2020

Hemant Jajoo
Mumbai

Mislead by the person having employee ID of 11169 for converting premium amount to no cost EMI. This is not done despite checking almost 10 times before the credit card statement is generated. And now when the statement is generated I am forced to pay the entire amount. Someone from your team should contact me immediately. I have to p

January 29, 2020

Krishna Kumar
Bengaluru

I have been cheated by PolicyX by not fulfilling their promise what they offered me for purchasing the policy. So request any one dealing with them be careful especially dont belive their promises of cashback which they dont honur after you purchase and stsart giving blame excuses or stories even if you have the call recordings.

January 28, 2020

Venu
Hyderabad

Very good

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Last updated on 07-02-2020