Health insurance provides medical coverage to the insured against any emergency and planned medical expenses. It provides financial assistance to cover the cost of hospitalization, surgeries, day care procedures, etc. A health insurance plan offers cashless treatment or reimburses the medical treatment costs of the insured.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
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Some plans are available only after a certain time
Health Insurance is a contract between the policyholder and the insurer where the health insurance company provides financial coverage to the insured up to the sum insured limit. It offers medical coverage for healthcare expenses incurred on hospitalization along with multiple benefits, like pre & post-hospitalization cover, medical check-ups, cashless facility, etc.
Categories | Specifications |
Sum Insured | ₹50,000 to up to ₹3 crore |
Maternity Cover | Available |
Pre & Post-hospitalization Expenses | Covered |
OPD Cover | Available |
ICU Charges | Covered |
Free Health Check-ups | Available |
Pre-existing Diseases | Covered* |
Ambulance Cover | Available |
Day Care Procedures | Covered |
Tax Benefits | Up to ₹75,000 per financial year |
*Pre-existing diseases are covered after the waiting period is over.
Buying a health insurance policy online comes with several benefits. Take a look at them below:
Medical inflation is increasing every day making treatments expensive. If you get hospitalized for a critical illness or lifestyle disease, you may end up losing all your savings. The only way to afford quality medical treatment during a health emergency is by buying a health insurance policy. Take a look at some of the top reasons to buy a health insurance plan below:
Health insurance plans offer a variety of health benefits to the insured depending on the plan. Following are the key benefits of buying a health insurance plan in India:
We at Policybazaar can help you to buy the best health insurance plan that suits your health requirements. Below is the list of health insurance plans offered by the top insurance companies in India. You can do an online comparison and find the best health plan for yourself.
Health Insurance Plans |
Sum Insured |
Network Hospitals |
Key Benefits |
Aditya Birla Activ Assure Diamond Plan |
Min – 2 lakh |
8700+ |
|
Bajaj Allianz Health Infinity Policy |
Unlimited |
6500+ |
|
Bharti AXA Smart Health Insurance Policy |
Min – 50,000 |
4500+ |
|
Care Health Insurance Plan |
Min – 3 lakh |
16500+ |
|
Cholamandalam Healthline Plan |
Min – 1 lakh |
6500+ |
|
Digit Health Care Plus Policy |
Min – 2 lakh |
6400+ |
|
Edelweiss Health Insurance Policy |
Min – 1 lakh |
3200+ |
|
Future Generali Health Total Policy |
Min – 3 lakh |
6000+ |
|
IFFCO Tokio Individual Health Protector |
Min – 50,000 |
6400+ |
|
Kotak Mahindra Health Premier Policy |
Min – 3 lakh |
5000+ |
|
Liberty Health Connect Policy |
Min – 2 lakh |
5000+ |
|
ManipalCigna ProHealth Insurance Policy |
Min – 2.5 lakh |
6500+ |
|
Niva Bupa (Formerly known as Max Bupa) Health Companion Plan |
Min – 3 lakh |
7400+ |
|
National Mediclaim Policy |
Min – 1 lakh |
6000+ |
|
New India Assurance Mediclaim Policy |
Min – 1 lakh |
3000+ |
|
Oriental Mediclaim Insurance Policy (Individual) |
Min – 1 lakh |
4300+ |
|
Raheja QuBE Insurance Policy |
Min – 1 lakh |
5000+ |
|
Reliance Health Infinity Insurance Policy |
Min – 3 lakh |
7300+ |
|
Royal Sundaram Lifeline Supreme |
Min – 5 lakh |
5000+ |
|
SBI Arogya Premier Policy |
Min – 10 lakh |
6000+ |
|
Star Medi Classic Insurance Policy (Individual) |
Min – 1.5 lakh |
11,000+ |
|
Tata AIG MediCare Insurance Policy |
Min – 3 lakh |
7200+ |
|
United India Individual Health Insurance Policy |
Min – 2 lakh |
7000+ |
|
Universal Sompo Complete Healthcare Insurance Plan |
Min – 1 lakh |
4000+ |
|
Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Family health insurance offers insurance coverage to entire family against a single premium. Under this health plan, a defined sum insured is divided among the members equally, which can be claimed by one or more family members during the policy term.
Senior Citizen health insurance plans offer insurance coverage to the age group of 60 years and above. The health insurance plan covers hospitalization expenses like in-patient, pre and post-hospitalization expenses, OPD expenses, Daycare procedures with tax-saving benefits.
Critical illness health insurance plans offer a lump sum amount in case the insured is diagnosed with a critical illness such as kidney failure, paralysis, cancer, heart attack, etc. Usually brought as a standalone policy or as a rider, the sum insured is pre-defined
Health insurance for aging parents refers to the senior citizen health plans that are designed for elderly people above the age of 60 years. It is essential for aging parents as they are more vulnerable to health risks like heart ailments, kidney ailments, and other critical illnesses.
Post COVID-19 outbreak, the IRDAI has also launched two Coronavirus specific health insurance plans i.e. Corona Kavach health plan and Corona Rakshak health insurance plan. Corona kavach is a family floater plan while Corona Rakshak is an individual coverage based plan.
Health insurance for diabetes covers hospitalization expenses for diabetic patients, who otherwise find it hard to get insurance cover. The policy can cover both Type 1 and Type 2 diabetes and related medical complications. Tax benefits on the premium can also be availed.
Personal accident insurance is a health policy that reimburses the medical costs incurred on hospitalization due to death or disability caused by an accident. The insurance company pays a certain amount as per the nature of the disability.
Most health insurance companies in India cover the following medical expenses under a health insurance policy:
The following medical expenses and situations are not covered in a health insurance plan:
Note: It is recommended to check your policy wordings to get a detailed list of exclusions.
There are a few factors that you should consider closely to make the right decision while buying a health insurance plan:
Riders in health insurance are the additional coverage that you can purchase to avail extra benefits and make your health policy more comprehensive. The cost of the health insurance rider depends on your age, sum insured, type of coverage, etc. Take a look at the five most common riders that you can consider buying under your health insurance policy:
Yes, your existing health insurance policy covers the cost of COVID-19 treatment. Several health insurers and general insurers have already launched health insurance plans for coronavirus that cover the medical expenses incurred on the treatment of coronavirus. After the IRDAI guidelines, two special standard health insurance products, namely Corona Kavach policy and Corona Rakshak policy were launched and are being purchased by a lot of people already. Lets’ check out these two COVID insurance products and how they are different from basic health plans.
It is an indemnity based health insurance plan that covers COVID hospitalization expenses, home treatment, and AYUSH treatment costs. The cost of masks, gloves, ventilators, oxygen cylinders, PPE kits, is also covered.
Corona Rakshak policy is a benefit based product that provides a lump sum payment for hospitalization (minimum 72 hours) expenses upon the diagnosis of coronavirus during the policy term. The minimum policy term is 3.5 months and the maximum is 9.5 months.
The eligibility criteria to buy a health insurance plan depends on a number of factors such as the age of the policyholder, pre-existing diseases, etc. In most health insurance plans, the following eligibility criteria should be met:
Criteria | Specifications |
Age Criteria for Adults | Entry age for Adults: 18 to 65 years |
Age Criteria for Dependent Children | Entry age for Children: 90 days to 25 years |
Pre-medical Screening | Above the age of 45/55/60 years |
Pre-existing Disease waiting period | 2 years to 4 years |
Age Criteria- The entry age criteria for adults and children varies and can range from 18-65 years and 90 days to 25 years respectively. The actual age can vary from one medical insurance policy to another.
Pre-medical Screening- Pre-medical examination is required for applicants mostly above the age of 45 years or 55 years. However, most of the senior citizen health plans require pre-medical tests before policy issuance.
Pre-existing Diseases- Any pre-existing illness is covered after the completion of the waiting period i.e. 2-4 years. Most health insurers ask the applicant if they are going through any medical conditions like blood pressure, diabetes, cardiovascular diseases, kidney problems, etc. at the time of buying a health insurance plan. If you are a smoker or an alcoholic, then you need to disclose it to the insurance company.
Do not keep it as a secret as it may cause problems at the time of claim settlement. It can even lead to rejection of you claims. Based on this criterion the insurance company decides to offer medical coverage to the applicant.
Comparing health insurance quotes online helps you in choosing the best health plan to suit your healthcare needs. Sometimes, it can also get confusing to select the best health insurance plan as so many insurers offer different health insurance products with impressive features.
Thankfully, Policybazaar.com understands the confusion of the customers and hence, offers a platform where you can compare different health insurance plans’ features, sum insured and quotes online. Here are some of the major advantages of comparing and buying a health insurance plan online:
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
Before buying a health insurance policy, you must be aware of how it works. Mentioned below are some popular myths that most people believe about health insurance:
Despite taking good care of your health, there are numerous unforeseen circumstances, like seasonal illnesses, dengue, malaria, or an accident, that can hit anyone anytime. Nowadays, hospitalization expenses are not easy to pay off. Even 2 days of hospitalization would cost you somewhere between Rs 60,000 to Rs 1 lakh and even more (depending on the type of illness and hospital). A medical insurance plan provides financial assistance to pay for expensive hospitalization costs.
As per the IRDAI regulations, all health insurance plans come with a set of exclusions/limitations. It is advised to check all the policy details and the coverage mentioned in the plan. The insurer will only compensate for the expenses that are covered in the policy and up to the sum insured limit.
It is essential to declare all your pre-existing diseases in the proposal form. You must mention pre-existing diseases clearly before buying a health insurance policy. Inadequate information can lead to rejection of the claim and can cost more than the expected amount.
As per a survey, nearly 49% of the applicants who consume alcohol are perplexed to buy a health insurance policy. But there are health insurance companies that offer medical insurance coverage to them as well. Taking into consideration the risks, alcohol consumers, and smokers would need to undergo a stringent pre-medical examination and pay a higher premium to get health insurance coverage.
Though most health insurance plans cover medical expenses for hospitalization of more than 24-hours, there are plans that have a capping on the duration of hospitalization as well. Most insurers these days cover daycare procedures as well, where it is not required to be hospitalized for at least 24-hours. It includes cataract surgery, varicose veins surgery and similar medical procedures.
Most people rely on the health insurance plan that is provided by their employer. It is important to know that a group health insurance policy comes with a set of limitations. It will not offer coverage to your family members in most of the cases, the sum assured will not be sufficient, or it will not cover critical illnesses. Also, getting health insurance coverage after retirement or losing a job can prove to be an expensive affair.
In order to keep the policy in force, regular payment of a fixed premium is essential. Did you ever think about how this premium is calculated? There are certain factors that affect health insurance premiums such as the medical background of your family, sum insured, cumulative bonus, your personal medical history and so on.
Based on that, you might want to calculate your premium to figure out how much you would have to pay for the policy. It can be done through a health insurance premium calculator. A premium calculator is an online tool that calculates the premium to be paid as per the information provided by you, such as the preferred sum insured, age of the insured, etc. At Policybazaar.com, you can calculate your health insurance premium online easily.
With the advancement in medical facilities, health care costs have also increased. The main benefit of health insurance is that it takes care of healthcare expenses. It offers financial security to you and your family in the event of an unanticipated serious illness or accidental injuries that could drain all your savings. Here is how the cost of your insurance premium is determined:
Health insurance plans come with additional benefits of cashless treatment and expense reimbursement by the insurer. One can file a claim for expenses incurred as per the sum insured limit of the health insurance policy. Following are the two types of claim processes:
For the treatments availed in the non-network hospitals, the policyholder can file a claim for reimbursement of the treatment charges. Once the treatment is completed, the insured needs to settle the bill, collect all the documents, and then file a claim with the Insurer or the TPA for reimbursement.
If the treatment is availed in a network hospital or cashless hospital, then the policyholder will be eligible to avail cashless treatment services. Once the treatment is completed the insurance company settles the bill directly with the hospital.
For both cashless and reimbursement claims the procedure for planned and emergency hospitalization may vary as given below:
In the event of a hospitalization, the policyholder needs to submit certain documents as mentioned below:
Buying health insurance can be easy if you approach the right channel. Having said this, Policybazaar.com can be a good platform for choosing the right insurance policy. Policybazaar Insurance Broker Private Limited has made the process of comparing & buying a health insurance policy easier in comparison to earlier days. A person has easy access to complete details of almost all health insurance plans available in the Indian insurance market at a competitive price.
Policybazaar.com helps you to compare numerous health insurance plans and zero down on the plan that best fulfills your needs. Moreover, the post-sale services are extended to the customers online as well even at the time of medical insurance claim.
To get insured from the comforts of your home, you can buy health insurance online from Policybazaar Insurance Broker Private Limited. No medicals are required and payment can be made online. Steps to buy a health insurance plan online from Policybazaar are listed below:
Step 1- Select Male/Female and enter your full name
Step 2- Enter your correct phone number, and click on view plans and select your age
Step 3- Click on continue and your city where you are living in and the pin code
Step 4- Click on Yes or No, if you take any medications
Step 5- Select the best health insurance plan from the options that are displayed. Choose ‘Get Free Advice’ if you want suggestions or help
Step 6- Select and compare the different health insurance plans on Policybazaar.com. You can choose the personalized plans options as well.
Step 7- Once the plan is selected, you can pay the premium or speak to our customer care representative to take you through different options.
Step 8- Make an informed decision and pay the premium. Once all the steps are completed, the policy will be emailed to your registered email-id.