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Best Health Insurance Plans
Health insurance is a type of insurance that pays for medical costs incurred as a result of an illness. These charges could include hospitalization bills, pharmaceutical bills, or medical consultation fees.
Nobody expects to get sick or harmed. However, serious illness can strike at any time. As medical costs are skyrocketing day by day, the cost of treating the illness might put a significant strain on any funds that you’ve built up over time. This means you may have to choose between providing your child with the best education possible and defaulting on your mortgage payments.
Purchasing the right health insurance plan is one of the wisest financial decisions that you can make in your life. However, there are a multitude of plans available in the market. So, which one to choose?
To make it easier, here’s a list of some of the best health insurance plans that you can consider buying!
Best Health Insurance Plans in India 2021
The below-mentioned plans are chosen based on the best sum insured options available in the market.
|Name Of the Plan||Sum Insured||Entry Age||Network Hospitals||Claim Settlement Ratio|
|Bajaj Allianz Health Guard||Rs. 1.5 Lakhs to Rs. 50 Lakhs||18 to 65 Years||6500+||93.68%|
|Tata AIG Medicare||Rs. 3 Lakhs to Rs. 20 Lakhs||91 Days to 65 Years||4000+||96.43%|
|Aditya Birla Active Assure Diamond Plan||Rs. 2 Lakhs to Rs. 2 Crores||5 Years & Above||7100+||70.81%|
|Care Health Plan||Rs. 4 Lakhs to Rs. 6 Crores||91 Days & Above||7800+||92.23%|
|Future Generali CritiCare Plan||Rs. 1 Lakh to Rs. 50 Lakhs||18 to 65 Years||4800+||92%|
|HDFC Ergo: My Suraksha – Silver Smart Plan||Rs. 3 Lakhs to Rs. 5 Lakhs||91 Days to Lifetime Entry||10000+||86.52%|
|Max Bupa Health Companion||Rs. 3 Lakhs to Rs. 1 Crore||91 Days||7000+||96%|
|IIFCO Tokio Health Protector Plus||Rs. 2 Lakhs to Rs. 25 Lakhs||18 to 65 Years||5000+||102%|
|Star Health Comprehensive Plan||Rs. 5 Lakhs to Rs. 1 Crore||3 Months to 65 Years||9,900+||63%|
|ICICI Lombard Complete Health Insurance Plan||Rs. 5 Lakhs +||91 Days to No Age Limit||6500+||78.32%|
Disclaimer: The values are taken from the respective plan brochures and are subject to change.
Brief-Description of The Above-Mentioned Health Insurance Plans
Now that you are cognizant of some of the best health insurance plans, let’s have a look at their features one by one.
1. Bajaj Allianz Health Guard
Bajaj Allianz Health Guard covers the costs of medical treatment if you are hospitalized as a consequence of a major illness or accident. The plan comes in three types: silver, gold, and platinum.
- Quick Claim: Quick claim payout up to INR 20,000 will be provided via Health CDC.
- 6500+ Network Hospitals: An extensive network of 6500+ Network Hospitals across the country is available.
- 60-Minutes Cashless Claim Settlement: The claim of the insured person is settled within 60 minutes.
2. Tata AIG Medicare
This cost-effective plan provides you with all of the benefits you’ll need to deal with any medical emergency that may arise. You can choose your sum insured based on your demands.
- Increase In Cumulative Bonus: Get a 50% increase in the cumulative bonus for every claim-free year.
- Global Coverage: The plan provides coverage regardless of the country or region of the insured person.
- Restoration Benefit: You can restore your sum insured to 100%.
3. Aditya Birla Active Assure Diamond Plan
This plan was created by Aditya Birla to protect your family in the event of a medical emergency as well as ensure that you live a healthy lifestyle in the future.
The company provides comprehensive coverage to policyholders under this policy, ranging from regular medical checkups to hospitalization care. Moreover, various incentives are also provided in the form of cashback, which is credited to the policyholder’s health account, and with which policyholders can earn up to 30% of the premium amount.
- Daily Cash Benefit: The insured receives a set amount for daily expenses incurred within 24 hours of being admitted to the hospital.
- Medical Check-Up Program: Every covered person is entitled to a free routine health checkup once each policy year under this plan. It is tailored to the insured’s age and the sum insured chosen.
- Pre-Hospitalization & Post-Hospitalization Coverage: Pre-hospitalization charges are covered for 30 days, while post-hospitalization expenses are covered for 60 days.
4. Care Health Plan
Care health insurance is a comprehensive plan that provides a wide range of coverage and benefits, ensuring that you are well equipped to deal with any medical emergency.
- Daily Hospital Allowance: This plan provides a daily allowance to cover day-to-day hospital expenses.
- Organ Donor Coverage: The plan will reimburse the organ donor for any medical expenditures incurred during the organ transplant surgery.
- Pre-Hospitalization & Post-Hospitalization Coverage: This plan covers all pre-hospitalization and post-hospitalization charges for up to 30 days and 60 days respectively.
5. Future Generali CritiCare Plan
The Criticare Insurance plan from Future Generali offers a wide range of benefits to help policyholders cover a variety of expenses incurred during difficult times. It is a critical illness plan that protects a person from financial hardship and ensures that they are completely prepared for treatment.
- Individual & Family Floater: Benefits of individual and family health insurance, including children and spouse.
- Cashless Treatment: The policyholders can leverage cashless treatments in the network hospitals.
- 12 Critical Illness with Tax Benefits: Tax advantages are available for 12 serious illnesses, such as cancer and kidney disease.
6. HDFC Ergo: My Suraksha
HDFC Ergo: My Suraksha seeks to provide you with all-around protection against rising medical costs. The plan is a delight for individuals, families, and elderly citizens looking for the correct health cover ranging from 3 lacs to 5 lacs. It is designed with a solid idea and strong base coverage.
- Additional Sum Insured: Even if your present sum insured is exhausted, you will receive an additional sum insured up to the base sum insured.
- Free Health Check-Up: Under the plan, the insured person can enjoy the benefits of free health check-ups every year.
- Cashless Claim: Cashless claim service is available at 10,000+ network hospitals.
7. Max Bupa Health Companion
Max Bupa Health Companion is a cost-effective health insurance plan that covers your entire family’s medical expenses. The plan comes in three types, each with its own set of advantages. They are: ‘Individual’, ‘Family’, and ‘Husband & Wife’.
- Alternative Treatment Coverage: Covers alternative treatments, such as Ayurvedic, Unani, Siddha, and Homeopathic treatments.
- Refill Benefits: The plan provides an amount equal to the base sum insured as an additional amount for a subsequent claim against any unrelated disease under this benefit.
- No Claim Bonus: For each claim-free year, the base sum insured is increased by 20% up to 100% of the base amount covered.
8. IIFCO Tokio Health Protector Plus
IFFCO Tokio Health Protector Plus coverage covers the costs of hospitalization for you and your family members as a result of an injury or physical illness. You can set a mandatory deductible amount with this health insurance policy, which you must pay either via your existing health coverage or from other sources.
- Transferable Policy: You can change your insurance policy from another company to IFFCO Tokio.
- Optimal Coverage: The plan provides optional coverage in the event of job loss or change.
- No Need for Other Basic Health Insurance: The coverage can be purchased without the purchase of any other basic health insurance policy.
9. Star Health Comprehensive Plan
It’s a full-featured family health insurance plan with no sub-limits or caps. The policy covers all members of the family for a single sum insured. The plan includes a wide range of advantages that help to alleviate healthcare concerns.
- Free Health Check-Up: The plan offers free health check-ups for every claim-free year.
- Total Disability & Accidental Death Coverage: It also covers the permanent total disability and accidental death of the insured person.
- Star Wellness Programs: Through different wellness activities, this program aims to promote, incentivize, and reward Insured Persons’ healthy lifestyles.
10. ICICI Lombard Complete Health Insurance Plan
The Complete Health Insurance policy from ICICI Lombard provides comprehensive coverage in the event of a medical emergency. The medical plan allows you access to a large number of cashless hospitals across the country.
- Pre-Existing Illness Cover: Any pre-existing disease is covered under the plan.
- Reset Benefits: You can leverage unlimited reset benefits.
- No Cap on Room Rent: The plan covers hospital stay expenses without a cap on room rent.
Each of the policies listed above has its own set of perks. You must first determine the benefits and understand what is covered and what is not, before choosing the finest health insurance policy. You can do some internet research or speak with any of the insurance company’s customer service representatives to choose the one that best meets your needs.
Factors To Consider While Buying a Health Insurance Plan
Health insurance is a preventative measure taken to protect your cash in the event of a medical emergency. Read on to learn 8 things to consider before purchasing a health insurance policy.
- Premium, Coverage, & Sum Insured
To acquire a health insurance plan with specific coverage, you must pay a premium. When it comes to the sum insured, which is the maximum amount your insurer would pay out in the event of hospitalization, the amount of premium you pay is also important. As a result, premiums, coverage, and the amount covered are all linked. When evaluating health insurance packages, pay close attention to the details around these three points.
- Cashless Network Hospitals
Always check with the insurance company about the cashless network of hospitals. The hospitals in the network offer a cashless alternative in the event of a medical emergency or hospitalization. The insurer settles the medical bills directly with the insured. Therefore, choose insurers with a large network of hospitals.
When it comes to health insurance, age is one of the most important criteria to consider. Keep in consideration the age of the family members who need to be covered when acquiring a medical policy. The premium cost would be determined by the age of the eldest family member, just as it would be in a family floater insurance.
When purchasing health insurance, you should also consider the age restriction criterion. For example, some health plans have a minimum age requirement of 91 days and a maximum age requirement of up to 60 years.
- Lifetime Renewability
Look for health insurance that can be renewed for a lifetime. When you’re older, you’re more likely to contract diseases and illnesses than when you’re younger, so you should invest in a health plan that can be renewed for the rest of your life.
- Pre/Post Hospitalization
You go to the doctor, get medicines, and have tests done before being admitted to the hospital. After you’ve been admitted to the hospital, you’ll have to pay for follow-up visits with the doctor, medications, and other costs. Choose an insurance plan that includes these features as well.
- Maternity benefits
Pregnancy costs have increased in tandem with rising medical costs. Women must have a health insurance plan that includes maternity coverage. When it comes to maternity benefits, it’s important to check the waiting time for claiming maternity expenditures as well as the sub-limit.
- No Claim Bonus
What happens if you get health insurance but don’t get sick, don’t go to the hospital, and don’t file a claim? To avoid your money going to waste, choose a health insurance plan that offers no claim bonus. Every year that you go without filing a claim, your health insurance carrier will give you the no claim bonus.
- Claim Process
Examine the policy’s terms and conditions, as well as the insurance company’s claim procedure. When it comes to paying health claims, a smooth claim procedure is a godsend. You can conduct some research, check online customer reviews, and choose a health insurance carrier with a reputation for quick claim settlement.
Frequently Asked Questions
ge is a crucial element in determining premiums; the older you get, the higher your premium will be because you are more susceptible to illnesses. Another important factor that influences the premium is previous medical history. If there is no prior medical history, the premium will be immediately reduced. Claim-free years can also have a role in deciding the cost of a premium because you may be eligible for a reduction. This will instantly help you save money on your insurance.
We should all purchase health insurance for ourselves and our families, based on our individual needs. Purchasing health insurance protects us from the unexpected costs of hospitalization (or other covered health occurrences such as critical illnesses), which would otherwise deplete household finances or potentially lead to debt.
As part of their network, insurance firms have agreements with a number of hospitals across the country. A policyholder with a cashless health insurance policy can receive treatment at any of the network hospitals without having to pay the hospital bills because the Third-Party Administrator pays the hospital directly on behalf of the insurance company.
Those in excess of the insurance policy’s limits or sub-limits, as well as expenses not covered by the policy, must be paid directly to the hospital. If you receive treatment at a hospital that is not in the network, however, you will not be able to use the cashless facility.
Yes. When you receive a new policy, there will usually be a 30-day waiting period starting from the policy’s commencement date, during which time the insurance providers will not be responsible for any hospitalization costs. This does not apply to any emergency hospitalization resulting from an accident.