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Best Health Insurance Plans in India

 

Health insurance is amongst the most intricate insurance products, as it comes with numerous riders and benefits, and hence, there are so many variants to it. The insurance marketplace nationwide is quite competitive. You must consider comparing the best health insurance plans in India, to end up buying one of the best health insurance plans for you and your dependents.

Needless to say, it is imperative to buy the best health insurance policy, as it helps you to keep up with the ever-soaring healthcare costs and assures you and your family of a healthy future without having to worry about the medical bills and hospitalization expense. And, when it comes to buying health insurance, you might get confused about which plan to buy out of many.

Now, you can put a halt to your confusion because we, at PolicyBazaar, are passionate about getting you the best of insurance. In order for you to pick out the best health insurance policy in India, we have chosen 10 policies since they stand superior on certain parameters, such as eligibility, uniqueness of features, coverage, affordability, limits and exclusions.

Benefits of a Best Health Insurance Plan in India

If you think that health insurance covers expenses only in the case of hospitalisation, then you’re wrong. Apart from providing financial assistance during hospitalisation, the best medical insurance plans in India come with other benefits as well. Let’s have a look:

Cashless treatment: With a good health insurance plan, you can avail cashless treatment at a network hospital. It is a boon as you don’t need to pay out of your pocket. The insured just needs to complete the paperwork with the hospital authority and avail the facility while the insurance company will take care of the bill.

Daily Allowance: Some insurers offer a daily amount for each day of hospitalisation. This doesn’t affect the actual sum assured. This amount can be availed up to a certain daily limit and can be spent on medicines or other health-related requirements.

Save on Tax: Section 80D of Income Tax Act says that the insured can claim for tax deduction against the premium paid for health insurance. An individual can claim a deduction of up to Rs. 25,000 on health insurance premium. If one is paying the insurance premium for his/her elderly parents, then a deduction up to Rs. 30,000 is permissible.

Covers Life-threatening Illnesses: Lifestyle diseases are deadly and expensive at the same time. A person with an average income may not be able to afford the treatment required for these diseases. If one owns a health insurance plan with critical illness cover, then a lump sum amount will be paid towards the expenses incurred in the treatment after the diagnosis. As this comes as a rider cover, one can cover critical illnesses under his/her health plan on the payment of an extra premium.

Avail Allied benefits: Some health insurers in India have come up with preventive check-ups and enhanced diagnostics, which usually are not included in a basic health insurance plan. Obviously, this is a smart move and includes:

  • Free medical check-ups
  • Free health consultation with doctors
  • Consultation with nutritionists
  • Tie-up with health service providers
  • Lucrative offers on healthcare services.

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

How to Choose Best Health Insurance Plan in India?

Choosing the right health insurance plan is imperative to fulfil your insurance needs. As the health insurance market is flooded with a plenty of insurance plans, it is confusing for one to settle with the Best Health Insurance Plans in India. However, thanks to experts, we’ve got insurance calculator, using which, one can compare the plans online. Online comparison can help you find a better plan in case you are not happy with your existing one. It compares the plans on parameters such as coverage, features, benefits, incurred claim ratio, premium etc. This way, you can compare different plans and opt for the one that best suits your requirements. 

10 Best Health Insurance Plans in India

Keeping medical inflation in mind, health insurance coverage is a must in India. There is a wide range of best health insurance plans available in the insurance market. Such a plan has to be the best in terms of offered insurance coverage as well as insurance premium. Ideally, a best health insurance policy is the one that offers maximum insurance coverage in exchange for an affordable insurance premium. Usually, people confuse the best insurance plans with the cheapest ones. For an insurance plan to be the best, there must be a perfect balance between insurance premium and insurance coverage. While a plan can be rated as number 1, it still might not be the perfect fit for you. It’s because the coverage you get isn’t the coverage you need. Before you buy a health insurance plan, analyse your insurance expectations and make sure that the plan you opt for fulfils your insurance expectations. 

Listed below, are 10 best health insurance plans in India.

  1. Apollo Munich Health Insurance
  2. Bharti AXA Health Insurance
  3. Cigna TTK Health Insurance
  4. HDFC ERGO Health Insurance
  5. Iffco Tokio Health Insurance
  6. Max Bupa Health Insurance
  7. Religare Health Insurance
  8. Royal Sundaram Health Insurance
  9. Star Health Insurance
  10. Universal Sompo Health Insurance
S.No. Company Plan Entry Age Sum Assured (Rs) Policy Renewability Features
1 Apollo Munich Health Insurance Optima Restore Family 5 years to 65 years 3lacs, 5lacs, 10lacs, 15lacs, 20lacs, 25lacs, 50lacs Lifelong
  1. Restore Benefits
  2. Organ Donor
  3. Domiciliary Hospitalization
2 Bharti AXA Health Insurance Smart Health Plan & Smart Super Health Plan Minimum 18 years. For children it is 91 days ( if both the parents are insured) 5 lacs in smart health plan. Extended to 2 cr. in smart super health plan Lifelong
  1. 20 critical illnesses covered
  2. Double the sum insured for critical illnesses
  3. Restoration & maternity benefits in super health plan
3 Cigna TTK Health Insurance Pro Health Insurance Plus 91 days for children & 18 years for adults Rs. 4.5 lakhs to Rs. 10 lakhs Lifelong
  1. Critical Illness cover
  2. Maternity Cover
  3. New born baby cover
4 HDFC ERGO Health Insurance Health Suraksha Plan No minimum entry age. Maximum up to 80 and above Rs 300000, Rs 400000, Rs 500000, Rs 750000 and Rs 100000 Lifelong
  1. Individual & family floater
  2. Comprehensive plan with Regain and ECB features.
5 Iffco Tokio Health Insurance Swasthya Kavach (Wider) 18 to 60 years for the proposer.
3 months to 23 years for dependents
Rs. 2 to 5 lacs Up to 80 years of age
  1. Optional critical illness extension
  2. Value added services
  3. Coverage to family members as well
6 Max Bupa Health Insurance Heartbeat Plan ( Gold, Platinum & Silver) No age limit Rs. 5 lacs to 1 crore  
  1. Domiciliary hospitalization
  2. Maternity benefits
  3. Childcare benefits
7 Religare Comprehensive Care Plan Minimum 91 days and there is no bar on maximum age Rs. 3 lacs to 6 crore Lifelong
  1. Emergency ambulance cover
  2. Domiciliary hospitalization
  3. Organ donor cover
8 Royal Sundaram Health Insurance Lifeline Supreme  Anyone above 18 years of age Rs. 5 lacs to 50 lacs Lifelong
  1. Domiciliary hospitalization
  2. AYUSH treatment cover
  3. Emergency domestic evacuation cover
 
9 Star Health Insurance Comprehensive Insurance 3 months to 65 years Rs. 5lacs to 25lacs Lifelong
  1. Personal accident cover
  2. Maternity Cover (normal & caesarean)
  3. Air ambulance assistance
10 Universal Sompo Health Insurance Individual Health Insurance Up to 55 years Up to Rs. 5 lacs  
  1. Domiciliary hospitalization
  2. Add-on critical illness cover

 

1. Apollo Munich Optima Restore Family Health Plan

It is an ideal plan for families in India, under which the entire family can get insurance, including the spouse, dependent children, parents and parents-in-law. Moreover, you can avail the Multiplier Benefit on a basic coverage, in which the sum insured increases by 50% for every claim-free year.

Features: 

  • Anyone between the age group of 5 years and 65 years can be covered under the plan. If both the parents are covered under the plan, the dependent child can also be insured from the 91st
  • Get coverage for self, spouse, parents/in-laws and dependent children on a floater basis.
  • Up to 6 family members (2 adults & 5 children) can be covered under a single family floater plan.
  • Premium renewal rate is subject to change as per the age of the insured members and applicable tax rate
  • Policy period is one to two years. Avail 7.5 % discount on the purchase of a 2 year policy.

Inclusions/Benefits

  • In-patient hospitalization up to the sum assured limit.
  • Pre-hospitalization expenses up to 60 days and post hospitalization expenses up to 180 days.
  • Coverage to all day care treatments.
  • Domiciliary Treatment cover is provided up to the sum assured limit.
  • Organ donor expenses are covered up to the sum assured limit.
  • Ambulance Cover up to Rs. 2,000 per hospitalization.
  • Critical advantage rider benefit when sum insured is Rs.10 lacs and above.

 Exclusions

  • Pre-existing diseases will be covered after a completion of 3 years’ waiting period.
  • Any disease or illness that is diagnosed in the first 30 days from the inception (unless it is an accidental injury).
  • Specific illnesses like hernia; cataract etc. will not be covered before completion of 2 years of the policy period.
  • Treatment for HIV/AIDS shall not be covered.
  • Consumption of alcohol, drugs and any other form of intoxication shall not be included.
  • Pregnancy related complications.
  • Dental treatment.
  • Congenital external diseases.
  • Mental disorders and treatment for depression, anxiety etc.

2. Bharti AXA Smart Health Insurance

Bharti AXA Smart Health is an innovative insurance plan that seems to truly care about the healthcare needs of the insured. It offers a gamut of unique and useful features such as inbuilt critical illness benefit, personal accident add-on at a nominal additional cost, 11 different value-added benefits and so forth.

Features

  • In-patient hospitalization expenses
  • Pre and post-hospitalization expenses
  • Day care treatment
  • Tax benefits under section 80D

Inclusions

  • In-built critical illness cover including 20 critical illnesses - cancer, first heart attack, coronary artery disease, coronary artery bypass surgery, heart valve surgery, surgery to aorta, stroke, kidney failure, aplastic anemia, end stage lung disease, end-stage liver failure, coma, major burns, major organ / bone marrow, transplantation, multiple sclerosis, fulminant hepatitis, motor neuron disease, primary pulmonary hypertension, terminal, illness, bacterial meningitis
  • Personal accident cover at a nominal additional cost
  • Domiciliary hospitalization
  • Dread disease recuperation
  • Transplantation of organs
  • Hospital cash allowance
  • Ambulance charges covered
  • Physiotherapy charges covered
  • Recovery grant (to meet household expenses post hospitalization)
  • Accompanying person’s expenses
  • Parent accommodation as companion for child
  • Out-patient dental emergency treatment (arising out of accident only)
  • Out-patient emergency treatment for accidents
  • Children’s education fund
  • Transportation of mortal remains
  • 5% discount on the renewal premium for every claim-free year (up to a maximum of 25%)
  • Costs of pre-policy health check-up
  • Cost of regular health check-up (for every block of four claim-free years)

Exclusions

  • 30 days initial waiting period, before which no coverage is given (except in case of an accident or emergency)
  • 4 years waiting period for pre-existing diseases
  • 2 years waiting period for specific diseases like cataract, hernia, renal stones etc.
  • Pregnancy related expenses
  • Suicide, self-inflicted injury or illness, mental disorder
  • Anxiety, stress or depression, use of alcohol or drugs
  • Diseases such as HIV or AIDS
  • Vision care/hearing aid
  • Dental treatment
  • Treatment by a family member or self- medication
  • Treatment taken from a person not registered as medical practitioner
  • Treatment that is not scientifically approved
  • Any hospitalization expenses incurred outside India

3. Cigna TTK Pro Health Insurance

This health insurance policy provides coverage between Rs. 4.5 lakhs to Rs. 10 lakhs. It compensates hospitalization expenses, treatment costs, room charges, nursing expenses etc. Additionally, it covers maternity benefits, provides emergency worldwide cover, along with claim free cumulative bonuses.

Features

  • Option to choose policy term of 1 year, 2 years and 3 years.
  • A 10% family discount, if more than 2 family members are covered under a single plan.
  • Long term discount 7.5% on purchase of a 2 year plan and 10% discount on purchase of a 3 year single premium plan.
  • Worldwide emergency cover.
  • Out-patient expenses are covered.

Inclusions

  • Pre & post hospitalization expenses along with day care treatment cover
  • People between the ages of 18 to 65 years can get a Critical Illness cover as an add-on benefit by paying an additional amount of premium
  • Restoration of sum assured
  • Expert opinion on specified critical illnesses like cancer or stroke
  • Domiciliary treatment expenses are covered up to the sum assured limit
  • Ambulance cover up to 3000 rupees per hospitalization
  • Donor expenses are covered up to the sum insured limit

Exclusions

  • Specific illnesses if claimed before 2 years
  • Treatment for HIV or AIDS
  • Genetic disorders
  • Psychological disorders
  • Pregnancy & childbirth complications

4. HDFC ERGO Health Suraksha Plan

Escalating healthcare expenses and recuperating medical costs can easily affect your budget. It’s always good to be prepared for such ill-fated times so that you can focus on your or your loved ones’ treatment and recovery rather than feeling anxious about your expenses.

HDFC ERGO Health Suraksha Plan is one such plan that will not only ease out your financial worries in the need of hour but also enable you to leverage automatic availability of the sum insured in case it’s already been exhausted.

Features

  • Tax rebate under section 80 (D)
  • Covers pre (& post hospitalization expenses
  • Covers in-patient hospitalization charges
  • No Claim bonus of 10% and up to a maximum of 100% (Optional by paying extra premium)

Policy Inclusions/ Benefits

  • An all-inclusive health plan at affordable price
  • No age limit set for enrolling into the plan
  • Provides with a network of more than 6000 hospitals for cashless services
  • Sum insured ranges between Rs. 300000, Rs. 500000, Rs. 750000 & Rs. 100000
  • Provides AYUSH cover with no sub-limit
  • No health checkups required for people below the age of 45 years at the time of enrolling into the policy
  • Available in two variants to choose from: i) Individual and ii) Family Floater
  • Covers 144 day-care procedures
  • Out-patients benefits available (optional by paying extra premium)
  • Optional maternity cover
  • Ayurveda, Unani, Sidha and Homeopathy treatment are covered
  • Organ donor expenses are covered
  • Comes without any sub-limits on room rent, any disease, doctor fees and other hospital charges
  • Offers REGAIN Benefit
  • Hassle-free claim and renewal procedures with the minimum documentation required and least settlement times

Exclusions

  • Pre-existing conditions – will have to wait for 2 years before your pre-existing medical condition can be covered.
  • Cosmetic treatments such as dental surgeries, etc. Few of the exceptions are plastic surgery performed after an accident/injury.
  • Injuries occurred due to suicidal act or self-harm.
  • HIV/AIDS
  • Recovery benefit
  • Different therapies such as naturopathy, magnetic therapy, acupressure or other such treatments
  • 1-2 years waiting period for pre-existing conditions like ENT 9Ear, Nose, Throat) treatment, osteoporosis, hernia
  • 2 years waiting period for gout, joint replacement, cataract, spinal disorders, internal tumors, tonsils, etc.

5. Iffco Tokio Swasthya Kavach (Wider)

The plan offers coverage to the entire family against health risks along with financial support. You can avail cashless hospitalization cover in more than 3000 network hospitals across India.

Features

  • Coverage is provided to the proposer, spouse and up to 3 dependents who are between 3 months to 23 years of age (including children, siblings, niece or nephew)
  • No medical screening is required up to 45 years of age
  • Automatic restoration of the Sum Insured
  • Add-on cover for Critical Illnesses on payment of an extra premium amount
  • Emergency medical and personal assistance during domestic travels under Value Added Services. It covers the insured members at no additional cost.

Policy Inclusions/Benefits

  • Hospitalization expenses including room rent cover up to 1.5% of the sum assured
  • Daily ICU expenses up to 2.5% of the basic sum assured
  • Hospital registration and service charges to be covered up to 0.5% of the basic sum assured
  • Nursing expenses are also covered
  • Fees charged by Medical Practitioner, including anesthetist, surgeon fees, etc.
  • Cost of medical tests, medicines, anesthesia, blood, oxygen, operation theatre charges, cost of dialysis, chemotherapy, pacemaker etc.
  • Ambulance cover up to a maximum of Rs. 1,500
  • Daily hospital allowance of Rs. 250 per day
  • Domiciliary hospitalization cover with a sub-limit of 20% of the Basic Sum Assured
  • Pre and post hospitalization cover

Exclusions

  • Pre-existing disease are not covered until 4 years of policy period
  • Any claims arising in the initial 30 days of the policy period (unless it is an accidental case)
  • Dental care, unless it requires hospitalization
  • Convalescence Benefits
  • Congenital diseases
  • Pregnancy related complications, apart from ectopic pregnancy
  • Any out-patient or domiciliary treatment
  • Any expenses incurred on the purchase of external medical equipments
  • Involvement in hazardous sports/activities.
  • Treatment related to HIV/AIDS.
  • Terrorism, war and nuclear risks
  • Stem cell implantation
  • Expenses incurred on naturopathy, alternative medicine etc.

6. Max Bupa Heartbeat Plan

Heartbeat is a family oriented health insurance plan with minimal exclusions and unique features such as no lower or upper cap on the entry age, inbuilt maternity and new born benefits and many more. It is available in three variants- Silver, Gold and Platinum.

Features

  • Covers In-patient hospitalization expenses, including surgical operations, nursing care, doctor’s fees, operation theatre charges, ICU charges, pathology, x-rays, diagnostic tests, prosthetic implants, etc.
  • Pre & post hospitalization expenses covered
  • Cashless hospitalization at network hospitals
  • Day care expenses
  • Increased sum insured on every claim free year
  • Tax benefits under section 80D

Inclusions

  • Covers up to 13 relationships under one single policy
  • Free health check-up every second year
  • Direct claim settlement, without the intervention of TPA
  • High deductible option to get a broader coverage at a nominal additional cost
  • No claim-based extra loading
  • Maternity benefit (after 2 year waiting period)
  • Newborn baby cover
  • Vaccination for children up to 12 years
  • 24x7 health advice helpline
  • Relationship manager assigned for claim facilitation (for gold and platinum plan)
  • Consultation and diagnostic tests (for gold and platinum plan)
  • Outpatient benefits (for platinum plan)
  • Lifelong renewal (no age limit for renewal)
  • Organ donor’s expenses covered
  • Organ transplant (if absolutely necessary)
  • Domiciliary treatment
  • Emergency ambulance expenses

Exclusions

  • 90 days initial waiting period, before which no coverage is given (except in case of an accident or emergency)
  • 4 years waiting period for pre-existing diseases
  • 2 years waiting period for specific diseases like cataract, hernia, renal stones etc.
  • Addictive conditions and disorders, ageing and puberty, artificial life maintenance, circumcision, dental/oral treatment, conflict and disaster, congenital conditions, convalescence and rehabilitation, cosmetic surgery, drugs and dressings for out-patient or take-home use, eyesight, experimental treatment, nature cure, wellness clinics, HIV, AIDS, obesity, hereditary conditions, genetic disorder, sleep disorders, speech disorders
  • Non-allopathic treatment, unrecognized physician or hospital
  • Psychiatric and psychosomatic conditions
  • Out-patient treatment
  • Self-inflicted injuries
  • Treatment received outside India
  • Unlawful activity

7. Religare Care Comprehensive Health Insurance Plan

It is a comprehensive health insurance plan, which is designed to meet your individual and family healthcare needs. You can choose from the below mentioned plans that are categorized on the basis of sum assured –

  • Care 3 ( 4 Lac ) Super Saver Plan
  • Care 4 (5,7,10 Lacs) Elite Plan
  • Care 5 (15,20,25,30,40 Lacs) Elite Plus Plan
  • Care 6 (50,60,75 Lacs) Global Plan
  • Care 7 (1,2,3,6 Cr) Global Plus

Let’s have a look at some of the policy benefits below-

 Features

  • Annual health checkup benefits
  • No pre-medical screening required up to 50 years of age and if your sum insured is less than Rs. 25 lakhs.
  • Day care treatment expenses are covered in case of some specific diseases.
  • Automatic reinstatement of the sum insured
  • Tax Saving benefits under Sec 80(D)

Policy Inclusions/Benefits

  • In-patient hospitalization cover
  • Pre-hospitalization and post-hospitalization cover along with follow-up consultations with the doctor
  • Companion benefits are provided in case hospitalization exceeds 10 days
  • Room charges and ICU charges cover
  • Emergency ambulance cover can be provided
  • Domiciliary hospitalization expenses
  • Organ donor cover
  • Dialysis treatment expenses

Exclusions

  • Pre-existing ailments before 2 years
  • Any claim arising for treatment within 30 days from the policy inception date, unless it is an accidental case
  • OPD treatments
  • Treatment for HIV/AIDS infection
  • Treatment required for drug overdose and alcohol consumption
  • Self-inflicted injuries, mental disorders and suicide attempts
  • Congenital diseases
  • Cost of IVF & Infertility treatments
  • Pregnancy complications

Know more about: Religare Health Insurance Policy

8. Royal Sundaram Lifeline Supreme Plan

It is a comprehensive plan offering health & wellness benefits to you and your family members. It also includes annual health check-up facility, second opinion for critical illness and similar benefits as mentioned below-

Features

  • Emergency domestic evacuation cover up to Rs. 1 lac
  • Vaccination in case of an animal bite up to Rs. 5000
  • Provision of second opinion for 11 specified critical illnesses
  • No claim bonus benefit of 20% to 100% of the sum assured

Inclusions

  • Covers In-patient hospitalization expenses
  • Pre and post-hospitalization expenses are also covered
  • Day-care procedures are also included.
  • Ambulance expenses to be reimbursed up to Rs. 5,000.
  • Compensation for organ donor expenses is also provided
  • Domiciliary hospitalization cover
  • AYUSH Treatment expenses in government hospitals to be covered up to the sum assured limit and in other hospitals up to a limit of Rs. 30,000.

Exclusions

  • Pre-existing medical conditions claimed before completion of 3 years of policy term
  • Critical illnesses contracted in the first 90 days from policy inception date
  • Diseases contracted in the initial 30 days from policy inception
  • Alternative treatment expenses (except AYUSH)
  • Stem Cell Implantation
  • Other exclusions as mentioned in the policy documents

9. Star Health Comprehensive Insurance Plan

Features

  • Covers 405 day care procedures
  • Out-patient medical consultations
  • Tax saving benefits under section 80(D)
  • Both individual and family floater policy

Policy Inclusions/Benefits

  • Hospitalization cover including room charges, doctor fees, and other hospital treatment costs incurred
  • Ambulance cover
  • If sum insured is more than 7.5 lacs, air ambulance cover is provided up to 10% of the sum assured
  • Pre and post hospitalization expenses are reimbursed up to the sum assured
  • Out-patient consultation fees (exclusive of ophthalmic and dental treatment) up to the limit specified
  • Domiciliary hospitalization cover, if required for more than three days
  • Pre-natal and postnatal expenses are covered up-to the limits specified
  • Newborn cover, along with vaccination expenses of up to Rs. 1000
  • Bariatric surgery cover (subject to policy terms and conditions)
  • Coverage against accidental death (subject to policy terms and conditions)
  • Automatic Reinstatement of Sum Insured (subject to policy terms and conditions)

Exclusions

  • Any pre-existing diseases before completion of 48 months of policy period
  • Dental treatment or surgery (unless it is an accidental injury)
  • HIV & AIDS treatment
  • Naturopathy and non-allopathic treatments
  • Treatment for mental disabilities
  • Hospital registration and admission charges
  • Other exclusions as detailed in the policy documents

You may like to Read: Star Cardiac Care

10. Universal Sompo Individual Health Insurance

This plan offers coverage to both individuals and their family members. It provides compensation for hospitalization expenses along with domiciliary hospitalization expenses if diagnosis of any disease or accidental injuries. Policy benefits are mentioned below –

Features

  • Entry age should be less than 55 years
  • Add-on cover for Critical Illnesses
  • In-house claim settlement team
  • Tax saving benefits under section 80D

Policy Inclusions/Benefits

  • Hospitalization and nursing home expenses, including room rent, nursing & boarding expenses, blood, oxygen charges, and fees charged by specialists etc.
  • A Domiciliary hospitalization cover for a period exceeding 3 days, in case of a lack of accommodation in the hospital or if the patient is in an immovable condition due to the illness
  • Premium is calculated depending on the age of the insured and the sum insured selected
  • No pre-medical screening required for people below 45 years of age

Exclusions

  • Pre-existing illnesses are not covered
  • Claims arising on account of any illness that is contracted during first 30 days of policy purchase
  • Expenses incurred for the treatment of diseases like Cataract, Sinusitis, Benign Prostatic Hypertrophy, and related disorders during the first year of policy purchase
  • Hospitalization required due to war like conditions, invasion etc.
  • Cost of hearing aids and spectacles are excluded
  • Dental surgery or treatment unless hospitalization is required
  • Venereal diseases are not covered under the plan
  • Self-inflicted injuries, overdose of alcohol, drugs or any other intoxication
  • Any treatment required for AIDS and AIDS is excluded
  • Cosmetic or aesthetic treatments
  • Pregnancy and Child-birth complications
  • Naturopathy Treatment

Which Type of Health Insurance Policy in India will be the Best-fit for you?

The Indian insurance marketplace is quite competitive and people nationwide have multiple options to choose from, when it comes to buying the best health insurance policy in India. At PolicyBazaar, we have made it much easier for you to choose the best health insurance policy, based on a thorough comparison in terms of various insurance aspects, such as premium, entry age, policy tenure, sum assured etc. The following is a quick guide to selecting the best health insurance policy, based on your need.

Health Insurance Policy Type Your Purpose of Buying Health Insurance
Individual Health Insurance You must have a health insurance policy for yourself, as you never know when you may fall sick. Medical bills and hospitalization expense could drill a hole in your savings. Gift yourself the best health insurance policy that covers your current and potential healthcare needs.
Family Floater Health Insurance You must have a family floater health insurance policy if you are married and have a spouse and dependent kid(s) to take care of. This health insurance policy covers your whole family under a single umbrella of coverage. Also, the premium payable for such policies is often affordable.
Senior Citizen Health Insurance If your age is above 60 years, then a senior citizen health insurance policy is highly recommended since you’re more prone to diseases followed by hospitalization inviting unnecessary medical expense.
Critical Illness Insurance If you are diagnosed with a critical illness specified in the policy documents, the insurer will pay a lump sum to you, irrespective of whether or not you’ve availed the treatment. Some critical illnesses covered by such policies are a heart attack, cancer of a specific type, etc.
Personal Accident Insurance If you suffered accidental injuries that led to total or partial permanent disability, the insurer would pay a lump sum to you. Personal accident insurance is available as a rider, which can be included with your existing health insurance policy. Otherwise, you can always check with your insurer about a standalone critical personal accident insurance policy.
Maternity Cover Plan You regular health insurance policy might not provide coverage for childbirth or pregnancy-related complications. If you are planning to have a baby, then looking for maternity cover is a must for you.
Hospital Cash Plans Regular health insurance policies do not cover for non-medical expenses incurred during hospitalization. While purchasing a health insurance policy, make sure to opt for hospital cash benefit to avail of coverage for all such expenses, subject to a limit.
Group Health Insurance Employers, generally, provide their employees with group health insurance coverage as the loyalty bonus or incentive, which does not require pre-policy medical check-up. Employees at all levels are provided with group health insurance. They can avail of cashless treatment at the network hospitals or get a reimbursement for the out-of-pocket medical expenses subject to the policy terms and conditions.

Things to Keep in Mind When Buying Health Insurance Policy in India

Health insurance is the safest way to plan for unexpected medical expenses. It comes with a bunch of benefits, provided that one chooses the right plan. To find the best health insurance plans, an individual should consider certain things before settling on any one plan.

Analyse Your Health Needs: It is the most important thing to consider while buying a health cover. By doing a roundup on how many members have to be covered, the number of adults and kids in the family, if there is any hereditary health issue etc., one will have a rough idea of the required sum assured.

Sum Assured: Sum Assured is the amount of monetary cover offered under a policy. At the time of claim settlement, the insurance company reimburses the incurred expenses up to this sum assured. Hence, it is very important to decide this amount carefully. A larger amount can cover more expenses. If you live in a metro city where the cost of quality medical services is high, you must opt for a higher sum assured. For instance, a heart surgery in a reputed hospital in Delhi will cost you around 5 to 6 lakh; for a middle-class family, this is a huge amount. It would be a great relief if a mediclaim policy pays this amount. Hence, consider your location while buying a health insurance plan.

Type of Illnesses which are Covered: Best health insurance plans cover critical illnesses as well those which need special attention and are expensive to treat. As most health insurers don’t offer coverage for these illnesses with their basic plans, you can opt for a critical illness rider. Moreover, look for a plan that offers coverage to common medical conditions like diabetes, hypertension etc.

Network Hospital: Every health insurer has tie-ups with hospitals, which are called network hospitals. Your insurer should be no exception. Make sure that the network list includes at least a few hospitals that are in your vicinity. It will help you easily access them in an emergency. Hence, always look for plans with a broader network of hospitals.

Incurred Claim Ratio: Incurred Claim Ratio of the insurer is the most important thing to consider at the time of buying a plan. A higher claim ratio means fewer chances of your claim getting rejected. Likewise, poor claim record will increase the chances of your claim getting rejected by the insurance company. While buying a plan, compare all the available plans based on the incurred claim ratio.

Go for Maximum Sum-limits: Health insurance companies offer plans with sub-limits which are applicable to room rent or medical expenses. Be careful while choosing a plan with sub-limits. Consider buying the one that offers maximum sum-limits on special expenses.

Choose the Plan with Minimum Waiting Period: To cover pre-existing illness, the insured has to serve a pre-defined waiting period. This means any claim due to a pre-existing disease will not be entertained by the insurer within this period. In most cases, the waiting period ranges from 2 to 3 years. However, read the policy terms & conditions carefully and go for the plan that comes with a minimum waiting period.

Conclusion!

When it comes to insurance, the decision to settling upon one policy is not a child’s play since there are multiple insurers in the market, offering a range of health insurance policies. Buying the best health insurance policy requires you to put in great efforts. At PolicyBazaar, we strive hard to help you take a well-informed decision. So, we came up with 10 best health insurance policies in India. We hope you will be able to take your best pick. Do let us know your experience!