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Best Health Insurance Plans in India

Health insurance is the widely spread insurance product that offers several benefits with riders and wider coverage. We all are aware that the insurance market is a huge competition. With all the available options it becomes quite difficult to choose the best health insurance plans in india according to your needs. So to deal with the same, it is always advisable to compare plans on the basis of features, premium, benefits, etc. Whether it is about you or your family, investing in a health insurance plan has already become a necessity that requires the proper attention of yours in every section.

There is no doubt in saying that the growing inflation rate in the healthcare industry has made it important to invest in a health insurance policy as early as possible. An effective health insurance plan will assure that you get the needful cover on time in case of any medical emergency whether it is related to you or any of your family members. With an effective health insurance plan, you can get the needful treatment for yourself and your family on time without worrying about the cost of the same.

Benefits Of Health Insurance

We know the importance of such needful financial assistance during hard days of life.

Such effective health insurance is offering coverage according to the needs of the consumers. To get the best health insurance plan online and choose the best one that can go well with your needs.

In India, there are several insurance companies that deal in health insurance plans that make it important to compare all available plans.

Company Plans Sum Assured Benefits
Max Bupa Max Bupa Health Companion Individual Rs 1 lakh to 1 crore
  • Advantage of Refill
  • easy claim process
  • Long-Term Policy
  • Daily allowance
Royal Sundaram Royal Sundaram Lifeline Supreme Rs.5 Lakh to 50 lakh
  • Reload of sum assured
  • Second Opinion advanatage
  • Emergency Domestic Evacuation Expenses
  • Pre-Hospitalization and Post-Hospitalization cover
  • Organ Transplant
Aditya Birla Aditya Birla Diamond Varies according to the variants of the plan
  • Cover for Cancer Hospitalization
  • Room upgradation
  • Reload Sum Insured Benefit
  • Pre-Hospitalization and Post-Hospitalization Coverage
  • Unlimited sum Insured Reload
Religare Religare NCB Super Premium
  • Automatic Recharge of Sum Insured
  • Daily allowance
  • No Claim Bonus
Star Health Insurance Star Family Health Optima
  • Auto Recharge
  • Repatriation of Mortal Remains
  • Restoration of Amount Insured
  • Road Traffic Accident Cover

Below is the list of top health insurance plans for your concern

1. Max Bupa Health Companion Individual

Health Companion by Max Bupa is basically a complete health insurance plan which is designed especially for individuals and small families. Below are a few details that will help you in understanding this plan more. Here are the details of this plan:

Multiple Variants

It is obvious that people carry different needs and to deal with all of them this plan comes in three variants which would be enough to go well with their specific needs.

Features and Benefits

Features and benefits of Health Companion by Max Bupa.

In-Patient Hospitalization: It offers the coverage against incurred medical expenses if the insured is hospitalized for the treatment.

No limit on Room Rent: This plan will also be there to cover the hospital accommodation costs without any limitation.

Pre- Hospitalization and Post-Hospitalization expenses:  Well, it is one of the effective features of availing this plan. The plan will be liable to cover pre-hospitalization charges up to 30 days and post-hospitalization charges for 60 days.

Day Care Treatments: While this plan covers all the daycare treatment expenses, such procedures shouldn’t have been undertaken in the outpatient department.

Refill Benefit: If an insured has exhausted his/her base insured amount, the refill benefit acts as a life-saver, both literally and metaphorically. This benefit offers an amount equal to the base sum insured as an additional amount for a subsequent claim against any different and unrelated illness.

No Claim Bonus-Base sum insured is enhanced by 20 percent up to 100 percent of the base amount insured for every claim-free year.

2. Royal Sundaram Lifeline Supreme

Lifeline Supreme is an effective product from Royal Sundaram company that offers the benefit of an annual health check-up, the second opinion in case of critical illness and much more.

Anyone can take advantage of this plan but he/she should be beyond the age 18. This plan is offered to an individual as well as family floater plan that will cover self, spouse and dependent children.

Cover Variants

This plan will be there to support the insured with wider coverage, add-on health benefits, etc. It offers various options of sum assured Rs. 5 Lakh, 10 Lakh, 15 Lakh, 20 Lakh, and 50 Lakh.

Benefits and Features

Benefits and features of Royal Sundaram Lifeline Supreme plan.

In-patient Hospitalization Charges: The plan will be there to offer the needful cover up to the chosen sum assured.

Pre-Hospitalization & Post-Hospitalization Charges: The plan provides coverage for pre & post hospitalization.

Day-Care Procedures: It provides cover to the day-care procedures as well up to the chosen the sum assured.

Ambulance Expenses: This plan covers ambulance expenses up to Rs. 5,000.

Organ Transplant Cover: It offers organ donor expenses up to the sum insured.

Domiciliary Treatment: It covers domiciliary hospitalization charges up to the sum assured.

3. Aditya Birla Active Assure Diamond

Active Assure Diamond is an affordable yet comprehensive insurance policy. It will be there with several benefits and wider coverage as well. It is designed in a way that can offer complete coverage and end to end solutions

Features and Benefits

Below are the basic things that you will get Aditya Birla Active Assure Diamond plan.

Sum Insured Reload Benefit: This plan offers several benefits in the form of sum assured and no claim bonus. But in a few situations these benefits are not sufficient because of the claim that you filed earlier, so in such situation, the option of sum insured reload benefit helps a lot. According to this cover, gets an additional sum insured of 150 percent.

Daily Cash Benefit: In case of hospitalization, an extra benefit of around 500 Rupees will be there as a daily-cash benefit. This will apply for sum insured of up to Rs. 4 Lakh and will be there up to 5 days only.

Vaccination Benefit: It will be there to cover the vaccination expenses up to 18 years old according to the cover.

Medical Check-up program: It offers routine health check-up for every claim-less year. It will be customized according to the policyholder’s age and opted right sum insured.

Donor Organ Transplant Expenses: It offers donor expenses up as per opted sum insured for transplantation.

4. Religare NCB Super Premium

Religare NCB Super Premium is an exclusive health insurance policy that comes along with wider coverage and huge sum insured options.

Features and Benefits- Religare NCB Super Premium plan.

Pre-Hospitalization and Post-Hospitalization coverage: The plan offers pre-hospitalization and post-hospitalization along with several additional benefits.

Ambulance Cover: The plan offers the required reimbursement for the ambulance expenses that take place for the transportation of the insured to the nearest hospital.

In-Patient Hospitalization: The plan is liable to cover inpatient expenses.

Daycare Treatment: The policy is liable to cover 540 plus daycare procedures if the policyholder undergoes a daycare treatment which does not require hospitalization for a time period which is more than 24 hours.

5. Star Family Health Optima

Family Health Optima offers comprehensive insurance coverage. In the market of health insurance, it is one of its kid products that offer several additional benefits and features.

Buying health insurance for each member of the family can be a daunting task and a costly as well. Instead of individual, this family floater can offer multiple benefits and wider coverage. It will cover all members of the family under a single plan.

Features and Benefits

Features and benefits of Family Health Optima plan.

Comprehensive Coverage: It offers complete coverage to the insured and family.

Auto-Recharge: The plan comes out with the auto recharge option

Health Checkup: Routine checkup will be there for every claim free year.

Amount Insured Restoration: It comes out with 100 percent restoration benefit in case the sum assured is exhausted.

New Born Baby Cover: The plan offers coverage to newborn newborn baby from 16th day.

Organ Transplantation Cover: It offers donor expenses.

Domiciliary Hospitalization Cover: The policy offers domiciliary hospitalization charges cover.

Day Care Procedures: The plan covers all daycare

Claim Ratios

health Insurance Claim Ratio

How to Choose the Best Health Insurance Plan?

Choosing the best health insurance plan that can go well with your needs can be a daunting task. Choosing the right plan which can easily go well with your needs is very important. We all know that the health insurance market is flooded with so many providers, it is really hard to settle down with one where the competition is really high.

However, we are there to help you with the same from start till the end. Using our portal you will get a clear idea about the required sum assured and the desired plan as well. The online comparison will help you n getting the best deal according to your requirements.

Benefits of a Best Health Insurance Plan in India

We all are aware of the need of having a health insurance plan and investing in the same can be a daunting task if you do not have the required knowledge. Before availing for the best health insurance plan, you must be aware of the basic benefits that you will get under the same.

Cashless treatment: An effective health insurance plan with cashless benefit will be there to help you during the treatment. For the same you don't have to pay anything from your pocket, your insurer will take care of the same.

Daily Allowance: There are a few companies also comes out with daily hospitalization cover. Under the same, there will be a limit of coverage on such expenses but it will be there to help you with medicines or health-related requirements.

Save on Tax: Under Section 80D of Income Tax Act, the insurance premium paid towards the policy will be liable to avail tax benefits. A person can ask for a deduction of up to Rs. 25,000 on health insurance premium. If anyone is paying for the policy on the behalf of their parents then the deduction will be up to Rs. 30,000 is permissible.

Covers Life-threatening Illnesses: An effective health insurance plan will be the great help in case of life-threatening diseases. If a person owns a health insurance plan along with critical illness cover, then a lump sum amount will be there to provide the needful assistance.

  • Free medical check-ups

  • Free health consultation

  • Consultation with nutritionists

  • Attractive offers on healthcare services.

  • By selecting the right plan, you can avail these facilities along with the basic cover.

Things To Keep In Mind While Buying Best Health Insurance Plan

When it comes to buying health insurance plan, it is obvious that you don't want to see yourself stuck with a wrong insurance product. As the market is flooded with so many effective options. Well, while you are looking for the best plans below are a few things that you should keep in mind

Look for your needs - Before heading towards any health insurance plan, it is very important to first look for your needs towards having a health insurance policy. With an idea of your needs, you will able to crack the best deal easily.

Choose sum assured wisely - A health insurance plan without sufficient sum assured will be of no use. It is advisable to keep all perspective in your mind and then look for the best plan accordingly. Don't forget to choose a sum assured which will be enough to offer the needed cover on time.

Coverage - A few health insurance plans are limited to specific needs of customers. So, such plans wouldn't be able to offer the much-needed cover in such hard times. Look for a plan which will be able to cover a wide list of diseases so that your disease will be liable to get the cover.

Network hospitals - There is no one who does not want to take advantage of the cashless benefit. A cashless benefit is a medium that allows you to keep your focus n treatment rather than the cost involved in it. Your insurer will take care of the same on your behalf.

Go for a plan with a minimum waiting period - It is true that almost all police come with a waiting person especially in case of pre-existing diseases. Choose a plan that will be able to offer the required coverage as soon as possible.

FAQs

1. What is the waiting period?

As we discussed already, there will be a waiting period attached to all health insurance policies. It can be of 30 days and more than that as well. It basically varies from plan to plan and insurer to insurer as well. Under the waiting period, the insurance company will not be liable to pay for any hospitalization or treatment that takes place. But, it is not applicable to the state where the emergency hospitalization arising out of an accident. The waiting period is not applicable to the renewal of the policy for subsequent years.

2. What is a pre-existing condition?

It's a medical condition which is there before you go for a health insurance plan. It is an important thing that you must look for as 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 coverage.

3. If I don't renew my policy before the expiry date, can I be denied renewal?

You can renew the policy by paying the premium within the grace period, that will be around 15 days from the date of expiry of the policy for most insurance companies. However, you will not be able to get the cover in such a duration. Also, the policy would lapse if the premium is not paid within the grace period.

4. What about "anyone illness"?

It refers to a continued period of illness and includes relapse within a specified number of days, subject to the terms and conditions are written in the policy. It's usually 45 days.

5. How many claims are allowed in a year?

There's no limit to the number of claims in a single year unless there's a specific cap laid down in the policy.

6. Can someone increase the sum insured, if he/she is already having a health plan?

If you own a health insurance policy then you can easily increase the sum assured at the time of time renewal.

7. What are the important exclusions under Mediclaim policy?

There are basically four important types of exclusions in a Mediclaim policy they are:

  • Waiting period- general, specific ailments and pre-existing

  • Non-medical expenses

  • Illegal reasons

  • Out-of-scope: e.g. Unproven medical procedures, HIV, adventure sports, etc.

8. Do I get a discount on renewal of the policy with the same company?

Yes, there a few insurance companies that offer the concept of loyalty benefit and will provide some discount under the same.

9. What are first-year/ second-year exclusions?

The first or second-year exclusions will comprise the list of diseases or ailments which have a waiting period. It may include a few ailments like Cataract, knee replacement, etc. (which are not pre-existing).

10. Can a person buy more than one Health policy?

Yes.

11. Can someone avail health policy if he/she is not an Indian National but living in India?

Yes, foreigners living in India can also take advantage of health insurance policy. However, the coverage would be limited to India.

12. Is mediclaim the same as health insurance?

Yes, it is the same.

13. What happens when someone cancels the policy?

If you cancel the policy, your cover will be limited to the date of cancellation of the policy. Moreover, your premium would be refunded on short period cancellation rates. Read your documents for more info.

Content Written on : 9th, oct, 2018.

By : Shehnaz Ali

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