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Top 5 Health Insurance Plans in India for FY 2016-17

If you want to know top 10 health insurance plans in India for the financial year 2016-17 at one place, then you will love this guide.

Health insurance plans are very important for everyone, as it provides financial aid at times when you meet any medical emergency. Policyholders can avail different benefits; for example, hospitalization expenses, room rent, ambulance charges, and much more. The amount of coverage offered under different health insurance policies varies according to the different insurance companies.

These individual insurance companies are well analyzed by customers, which will help you choose the best health insurance plan from the table given below:

Check it out:

Features/Plans

Apollo Munich Easy Health

Religare Care

Max BUPA Health Companion

Bajaj Allianz Health Guard

ICICI Lombard Complete Health - iHealth

Entry Age

18 years to 65 years

18 years

18 years

18 years to 65 years

18 years

Minimum Sum Insured

Rs. 1 Lakh

Rs. 3 Lakhs

Rs. 2 Lakhs

Rs. 2 Lakhs

Rs. 1 Lakh

Maximum Sum Insured

Rs. 50 Lakhs

Rs. 60 Lakhs

Rs. 1 Crore

Rs. 1 Crore

Rs. 10 Lakhs

Waiting Period

3 year

4 years

3 years or 4 years

2 years or 4 years

2 years to 4 years

Co-pay

N/A

N/A

N/A

10% co-pay

N/A

Sub Limits on Room Rent

N/A

No sub-limits

Allowed only on request

N/A

Allowed on request

No Claim Bonus

100% no Claim Bonus

50% to 150%

100% in 5 years.

10% each claim free year.

10% to 50% of increase in sum assured for every claim free year.

Claim Settlement Ratio as per Public Disclosure

92%

93%

96%

98%

N/A

Effective Ratio

92%

99%

96%

98%

N/A

Disclaimer: The ranking of the insurance companies in this content is not in any particular order. The list is not compiled as per the IRDA ranking.  Figures shown in the above table are for FY 2018-19

1. Apollo Munich Easy Health

The individual health insurance policy offered by Apollo Munich Insurance Company offers numerous benefits and coverage at a very affordable premium amount. There are several benefits offered under this policy, for example: it provides in-patient hospitalization, cashless hospitalization facility, pre-hospitalization, and post hospitalization expenses, more than 144 types of day care procedures are covered that are listed in the policy when the policyholder do not require hospitalization. This policy also covers the cost incurred due to domiciliary treatment like Ayurvedic, Homeopathic, and Unani Treatment. These features make this plan the best option available in the market.

2. ICICI Lombard Complete Health - iHealth

ICICI Lombard Insurance Company is the second best insurance company, which is well known for its health plans in the market. ICICI Lombard Complete Health plan is proved to be the best amongst all the plans offered by this Insurance Company. Some important conditions that are favorable for the customers are: if you are looking for ICICI Lombard health insurance plan and your age is under 46 years, you do not need any medical check-up. This policy also has lifetime renewability option. Some special facilities offered under this plan are as follows:

  • It offers cashless hospitalization facility at more than 4,500 network hospitals.
  • It covers pre and post hospitalization expenses for 30 days before the hospitalization and 45 days after the hospitalization of the policyholder.
  • In addition to treatment expenses and hospitalization expenses, this policy also covers expenses incurred due to day care procedures.

3. Religare Care

Reliogare care by Religare health insurance offers multiple numbers of benefits. For example: it covers the expenses for room rent, day care procedures, ICU charges, domiciliary expenses, ambulance charges, pre/post-hospitalization expenses and medical check-ups. You can notice that the Religare care plan covers overall healthcare expenses that incur during a medical emergency.

4. Max Bupa Health Insurance

There are three variants of health insurance plans offered under Max BUPA Health Insurance. Total coverage and amount of coverage offered under various plans differs. Some common benefits that can be availed under all these 3 plans are no sub-limits on room rents, 100% no claim bonus. Max Bupa also offers some best family health insurance plans that are well known in the market. Max Bupa Health insurance claims are settled in-house and policyholders do not need to deal with TPA’s in case, they meet any medical emergency. Some important benefits offered under these policies are cashless hospitalization, pre and post hospitalization expenses, room rents, ambulance charges, domiciliary expenses and medication expenses.

5. Bajaj Allianz Health Guard

Bajaj Allianz Health Guard is a balanced policy with highest claim settlement ratio. This individual health insurance plan covers the expenses incurred due to hospitalization, doctor’s consultation, ambulance services, treatment charges and pre and post-hospitalization charges. It has more than 4000 network hospitals where policyholders can avail additional benefits like cashless benefits. Bajaj Allianz Health Guard does not require the pre-medical test. Policyholders can avail free health check-ups after 4 claim free years at any network center of your insurance company. The policy does not cover pre-existing diseases.

Hope you are aware of all the best health insurance plans available in the market. So, you can easily select the plan that suits your requirements. If you find any difficulty in buying a health plan you take help from the guides online or from insurance broker or agent.

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