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Best Health Insurance Policies for 30 Year Old People

Updated On Mar 17, 2021

Health insurance may not be mandatory in India at the present time, but it is recommended to one and all. Needless to say, the cost of healthcare in India is rising with every passing day. Moreover, talking about medical emergencies, they can take place with anyone, and that too at any given time. In order to ensure financial stability in a crucial situation, it is important for every individual to have a health insurance policy by their side. Yes, irrespective of the age factor!

It is a common notion that health insurance is only meant for the elderly. What many do not realize that it is the young generation as well that requires financial security in terms of health insurance. If you are an individual in your late 20s or early 30s, make it a point to invest in the best possible health insurance so that you are left confused and hopeless in case an adverse medical emergency situation occurs.

Importance of Health Insurance

Given the responsibilities and unexpected health conditions, health insurance should be mandatory for everyone. By a health policy in hand:

  • You can avail cashless treatment at the best hospitals.

  • You can get all medical expense (before and after hospitalisation) covered. 

  • You can get cover for ambulance charges, medical reports expenses

  • You can avail coverage for room rent, doctor and nursing fees, etc.

  • In fact, you won’t need to spend even a single penny from your pocket. 

Importance of Buying Health Insurance at Early Age 

Buying health insurance at an early age is a wise decision to make. It may feel too soon to take up financial responsibilities, however, it proves to be a fruitful choice in the long run. Let us shed light on some of the key aspects that make health insurance important to buy at an early age. 
The list of early health insurance purchase benefits includes:

  • When you choose health insurance in the early years of life, you end up getting more at a less price. In simple words, health insurance companies charge less premium from the young policyholders as they are at a less risk of suffering from illnesses as compared to the elderly. So, remember that an early health insurance investment will not only help you secure your health in the best possible way, but also at the best price. 
  • Choosing health insurance in the young years comes with the benefit of no waiting period. In general cases, a policyholder has to wait until the end of waiting period to avail health insurance benefits. But, when you buy health insurance in your late 20s or 30s, you don’t have to worry about the waiting period as chances of availing medical help are quite low. 
  • Young health insurance policy buyers also benefit with low rejection rates. As compared to people with a medical history of life-threatening diseases, young policy buyers face less rejection at the time of purchasing a health insurance policy. 
  • With the progressing age, the health insurance options get minimized. Young policy buyers have a vast array of policies to choose from. Also, policy buyers in their late 20s or early 30s get comparatively better health insurance options. 

Choosing the Right Policy

Since there are many health insurance policies with similar features and benefits in the market, choosing the right one can be a daunting experience for you. Here are helpful guides to pick the best health insurance policies for 30-year old people.

Suitable Health Insurance Plans for  30 Years Old Male or Female 

If you are 30 years old and you are not living in a metro city, then a floater policy of Rs. 5 lakh sum insured can be sufficient. However, a policy with 5 lakh sum insured in a metro city is not advisable due to the cost of medical treatment in a metropolitan city is significantly higher compared to other parts of the country.

Let it be more obvious.

A 4 to 5-day hospitalisation for common diseases can put a dent in your savings. It can land you a bill of Rs. 70,000-80,000 in private hospitals in metro cities. In addition, the bill for bigger ailments or critical illnesses can run into lakhs of rupees. 
In that case, taking a cover of at least Rs 7-10 lakh to be on the safe side is a wise step. 

Here are a few health insurance options for the young health insurance policy buyers:

Health Insurance Company Health Insurance Policy
Max Bupa Health Companion
HDFC ERGO Optima Restore
New India Assurance Floater Mediclaim Policy
HDFC ERGO Optima Vital

1.Max Bupa Health Companion Plan

Max Bupa Health Companion with 7 to 10 lakh sum insured can be the perfect health plan for a young policy buyer. Major inclusions under this plan comprise the following:

  • Hospital room, health checkups

  • Pre and post hospitalization, daycare treatment

  • Hospitalization at home, alternative medicine at network hospitals covered

  • Family floater option, ambulance charges

  • Doctor-on-call service, restoration of cover, etc.

For example, Abhinandan 31 years of age is a software engineer in Delhi. His family includes homemaker wife (30), one 6-month old son and parents (66 and 60).

Abhinandan has already a group cover of Rs. 3 lakh from his employer.

But, the group insurance cover is valid only till Abhinandan is a part of the organization?

What will happen when he leaves the organization?

He can’t depend too much on group health insurance as group plan also comes with several exclusions. It may not provide you with coverage for all the costs incurred during the hospitalization. Also, there are co-pay clauses, other charges, and sub-limits.

So, buy a personal family floater plan.

Like Max Bupa Health Companion, Optima Restore by HDFC ERGO is another option for you.

2. HDFC ERGO Optima Restore

Optima Restore insurance product is available based on the individual as well as the family floater basis.

The sum insured starts from 3 lakh and goes up to 50 lakh. The policy provides you with restore benefits to auto-reinstate your sum insured, multiplier benefits i.e. a no claim benefit of 50% every year. The plan covers:

  • Pre & post hospitalization (60 days & 180 days)

  • Domiciliary treatment (hospitalisation at home due to lack of beds at the hospital)

  • All day-care procedures

  • Expenses for organ donor

  • Emergency ambulance

  • Daily cash for choosing shared accommodation

  • Health checkup

  • E-opinion (second opinion), lifelong renewal

  • No sub-limits, no co-payment

  • Critical advantage rider

  • Discounts at renewal with the “stay active” benefit.

Not only Apollo Munich and Max Bupa, but New India Assurance also offers a family floater plan, called Floater Mediclaim. At 30, you can opt for this policy for you and your family. 

3.New India Assurance Floater Mediclaim

Floater Mediclaim is available for individuals 18-65 years, dependent children from 3 months up to 25 years and proposer’s parents. For children’s coverage, one or both parents need to be covered . The plan includes coverage for room rent/boarding/ nursing expenses, pre & post hospitalization, medical tests, ambulance charges, daycare treatment, etc.

Note: It’s advisable to choose a floater plan of minimum 10 lakh cover. And separate individual plans for parents for Rs. 3 lakh each.

4. HDFC ERGO Optima Vital

Optima Vital by  HDFC ERGO is unique Critical Illness insurance. It protects you financially in case of any of the listed critical illnesses. The minimum coverage amount is 1 lakh and a maximum of 50 lakh. The plan covers 37 critical illnesses, including:

  • Blindness
  • Cancer of Specified Severity
  • Deafness
  • Kidney Failure requiring Regular Dialysis
  • Major Head Trauma
  • Encephalitis
  • Total Loss of Speech
  • First Heart Attack of Specified Severity
  • Major Burns and so on. 

E-opinion in respect of a Critical Illness is also covered under this policy.

Things Young People Should Consider Before Buying a Health Insurance Policy

If you are a young individual looking forward to buying a health insurance policy, know that there are a few things you should be aware of before making a final decision so that you end up making the right choice. 
Below mentioned are elements that one should keep in mind before buying a health insurance policy:

  • Claim settlement ratio (CSR) 
  • List of network hospitals
  • Claim settlement process
  • Sum insured amount
  • Policy term
  • Type of policy required (individual or family floater)
  • Coverage features 
  • Exclusions in the policy
  • No claim benefit feature
  • Free look period 
  • Waiting period 
  • Policy premium 
  • Discounts offered

Now that you know what all to keep in mind, make sure you purchase your health insurance plan considering the same without fail. Rest assured, an early investment in health insurance will benefit you a lot in the longer run.

Takeaways

Turning 30 is a key phase of one’s life. You should plan wisely. And health insurance is necessary at this age. When buying a health insurance policy, pick one that seems to save your hard-earned money.

If you are not sure which health insurance policy you should choose, feel free to contact us at insurancedekho. Our helpline number is 1800-120-5698. 

Also Read:

Go Digit Bags the title of 'Asia's Best General Insurance Company of the Year

7 Best Health Insurance Plans with Free Medical Check-up Benefits

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