A Complete Guide to Buy Cheap Health Insurance in India

In the insurance market, health insurance products are sold in plenty. So it becomes highly difficult to choose which plan is best for you. Moreover, it is also important to choose a health plan that is affordable and does not wash away your savings. There are a few factors related to health insurance policies that you should consider while buying mediclaim policies.

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      The Following are the Factors:

      • It should be noted that health insurance policies are available for the lifetime.
      • After a health insurance policy is issued, no insurance company can actually levy claims.
      • In the case of any hike in health insurance policy premium, insurers should give a clean chit in 3 months advance regarding notification for increasing terms of policy and premiums.

      To Help You Buy the Best Health Insurance Policy, Here is a Complete Guide for You:

      • Everyone wants to buy a health insurance policy that has all the good features in it, such as less premium, high cover, OPD cover, maternity benefits, best claim settlement, quick claim settlement and even high-end benefits. However, it should be noted that no such dream plan actually exists in one single policy.

      • In a quest to find the right policy, you may think of buying a policy at a later stage in life. It is not good for buying the best health insurance because the younger you are, the lower premium rate is. It is advised to buy the best health insurance plan within a set deadline that can get you fully covered.

      • The next step is to understand who in your family you want to cover. You should consider the health conditions of your family members including your wife, children, and parents. Especially, if in your family you have a member who is above 50 years old with a medical history, then you should take up a policy that will help to get adequate coverage for your family members.

      Buy Cheap Health Insurance

      • You should assess your lifestyle because the type of health plan that you require depends on the type of lifestyle that you are following. If you can lead a very good lifestyle, it will be helpful to keep diseases at bay.

      • Consider if the health insurance is a family floater or a good individual cover. Suppose there is a family member who is over 50 years old and is suffering from any illness, then you should consider an individual cover for him/her along with a family floater policy for your family. Do not keep any kind of “high-risk” family member as part of the significant family floater since other members might be left out without the sufficient cover.

      • For example, Oriental Insurance Mediclaim is one of the best insurance plans. It considers age eligibility between 3 and 80 years. Under this policy, you can have cashless hospitalization and the sum assured ranges from Rs.50, 000 to Rs. 500,000. You will get a family discount of maximum 10% on the aggregate premium.

      • Under this policy, you will get benefits of hospital expenses, pre-hospital and even post-hospital charges, day care expenses, ambulance charges, dental charges, organ donor expenses, and so on.
        This policy has some exclusion as well. It includes any kind of pre-existing health conditions, all types of medical conditions that may happen in the first 30 days of the policy (any kind of injury is exempted), any kind of treatment related to childbirth and pregnancy, and treatment of benign hypertrophy of prostate, fibromyoma, sinusitis, hysterectomy, etc.
      You may like to Read: Best Health Insurance Plans in India

      The key features of this policy are that the entire family is covered in this policy and there is no kind of medical check-up required for those above the age of 60 years. The cover comes in two types of options, one is silver and another is gold. The silver coverage is between 1 and 5 Lakhs and the gold coverage is from 6 to 10 Lakhs.

      Thus, opt for the policy that gives you maximum health benefits for you and your family.

      Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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      Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

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      *We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30- minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881.

      *Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. Policybazaar does not provide any medical or surgical advice or diagnosis and is not responsible for your interactions / treatment by a medical practitioner/hospital. Please consult a registered medical practitioner for any medical or surgical advice. The Information that you obtain or receive from Policybazaar, and its employees, or otherwise on the Website is for informational purposes only. As per the Insurance guidelines, you are allowed to cancel the policy with-in 30 days from the date of Issuance of policy.This option is available incase of policies with a term of one year or more.

      *All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.

      **All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.

      *₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

      *₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

      *The scope of coverage may vary from plan to plan.

      ~Source: Google Review Rating available on:- http://bit.ly/3J20bXZ

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      Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.

      STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

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