Best Health Insurance Plans

Having health insurance is very important these days as an adequate insurance policy provides you with the much-needed financial assistance in case of any medical emergency. It covers treatment expenses incurred on pre and post hospitalization, room rent, ambulance services, doctor’s fee, ICU charges, medicine costs, and so on.

Thus, health insurance protects your savings from any unexpected expenses due to medical treatments.

Top 10 Health Insurance Plans in 2020 India

Health Insurance Companies

Health Insurance Plans

Network Hospitals

Incurred Claims Ratio (2018-19)

Maximum Sum Insured Amount

Universal Sompo Health Insurance Essential Privilege Plan 4,000+ 92% Rs. 10 Lakhs
Bajaj Allianz Health Insurance Health Guard Plan 6500+ 85% Rs. 50 Lakh
Star Health Health Insurance Family Health Optima 9,900+ 63% Rs. 25 Lakhs
HDFC Ergo Health Insurance My: health Suraksha 10,000+ 62% Rs. 75 Lakhs
HDFC Ergo Health (formerly known as Apollo Munich) Optima Restore 10,000+ 62% Rs. 50 Lakhs
ManipalCigna Health Insurance Prohealth Plus 6,969+ 62% Rs. 50 Lakhs
Royal Sundaram Health Insurance Lifeline Supreme 5,000+ 61% Rs. 50 Lakhs
Aditya Birla Health Insurance Activ Assure Diamond 5,700+ 59% Rs. 2 crores
Care Health Insurance formerly Religare Health Insurance Care Health Insurance formerly Religare Health Insurance Plan 7,400+ 55% Rs. 6 Crores
Max Bupa Health Insurance Health Companion Individual 4,500+ 54% Rs. 1 Crore

What Are Health Insurance Plans?

Health insurance plans reimburse the insured individuals for their medical expenses that include costs related to surgeries, hospitalization, treatments, and the like arising due to injuries, illnesses, or even accidents. In case of a health insurance claim, the insurer, that is the insurance company, pays the benefits to the insured as per the terms and conditions of the policy document. 

In other words, health insurance policy is an agreement between an insurance company and the insured where the former agrees to provide the specified payment/compensation for medical expenses in case the latter is ill and requires hospitalization. In most cases, health insurance companies have tie-ups with hospitals, known as network hospitals where the insured can avail treatment without paying even a single penny.

Different Types of Health Insurance Plans in India

To meet the different requirements of people, Health Insurance Companies under the guidance of the Insurance Regulatory and Development Authority of India (IRDAI) provide different types of insurance plans in India such as Individual Health Insurance Policy, Family Floater Health Insurance, Women Health Insurance Policy, Senior Citizen Health Insurance Policy, Critical Illness Insurance Policy, Group/Corporate Health Insurance Policy, Self-employed Health Insurance Policy, Personal Accident Policy, Health Insurance Policies for newborn babies, kids, etc. Besides, insurers also offer health insurance plans specially designed for cancer, diabetes, heart, dengue, and other diseases.

These health insurance policies are broadly classified into 7 categories that are explained below: 

1. Individual Health Insurance Plans

As the name suggests, individual health insurance plans offer coverage for surgical and hospitalisation expenses to the insured on an individual basis. The coverage includes expenses related to pre-hospitalisation and post-hospitalisation, in-patient hospitalisation, medicines, etc. up to the sum insured. Many individual health insurance plans offer other facilities too like daily cash benefits but that depends on the terms and conditions of the policy. With an individual health insurance policy, the insured can avail cashless as well as reimbursement treatment facility.

2. Family Floater Health Insurance Plans

Family floater health insurance plans offer coverage to all the family members. This means that the proposer can include their spouse, children, parents, parents-in-law and other dependent members by paying a single health insurance premium. In terms of coverage, a family floater health insurance policy is similar to an individual health insurance policy. Family floater insurance policy is a good option as it brings the entire family under an umbrella cover thereby reducing the chances to exhaust the sum insured.

3. Senior Citizen Health Insurance Plans

Senior citizen insurance plans are specially designed for people aged above 60 years to offer extensive coverage against medical expenses. Due to wide coverage, these plans come at a higher premium. But the insured can reduce the financial burden by availing tax benefits under Section 80D of the Income Tax Act. For elder people, it is better to opt for a senior citizen health insurance policy as it helps keep them stress-free in their post-retirement years.

4. Health Insurance Plans for Women

Women need medical attention at different stages of their lives, for which they need health insurance plans specifically designed for them. There are many insurers in the market that offer women-specific health insurance plans that not only take care of women’s health but also offer them financial security. Common benefits offered under women-specific health insurance plans include maternity cover, cover for hospitalisation expenses, critical illness cover, newborn baby cover, and so on.

5. Health Insurance Plans for Children

Health insurance plans for children offer the ideal cover for children at affordable health insurance premiums. But one can get minor children covered individually only when either of the parents is covered under the same health insurance plan. Children specific health insurance policies offer a cluster of benefits such as cover for health check-ups, cashless hospitalisation, specialist consultation, vaccinations, ambulance charges, etc.

6. Critical Illness Insurance Plans

Critical illness insurance policies are fixed benefit policies that offer cover for specific life-threatening diseases such as cancer, stroke, paralysis, kidney failure, amongst others. Under these policies, the insured gets a pre-decided lump sum amount on diagnosis of any critical illness as specified in the policy document. The insured can use the amount as per his/her own choice to pay for treatment in India or abroad, recuperation expenses, or even pay off debts if taken.

7. Disease-Specific Health Insurance Plans

Disease-specific health insurance policies cater to particular diseases. For instance, dengue, diabetes, etc. a disease-specific policy is recommended along with a standard health insurance plan as it provides cover for diseases at all stages, irrespective of if the existing illness is in dormant or critical stage. Unlike regular health insurance policies, these plans do not come with long waiting periods. But remember, disease-specific health insurance plans are no substitute for standard health insurance policies. 

Key Benefits of Health Insurance Plans

Health insurance plans offer many benefits to the insured. Some of them are explained below:

Cashless Treatment

Health insurance plans offer cover for cashless treatment in case the treatment is available at a network hospital.

No Claim Bonus

For every claim-free year, the insured can avail No Claim Bonus (NCB) for up to a specific limit.

Medical Check-Up

Health insurance policies also cover for periodic health check-ups. Some health insurance companies also offer free medical check-ups on the basis of accumulated No Claim Bonus.

Tax Benefits

Premiums paid for health insurance policies are subject to tax deductions under Section 80D of the Income Tax Act, 1961.

Health Insurance Plans

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Health Companies User Reviews

What users are saying
  • Service part is best

    Best service and best plans with a reasonable premium. I liked it a lot. 

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    Aditya Birla
    By Ankit
    On: September 12, 2020
  • Best health insurance

    Reliable & Trustworthy! Iffco Tokio is reliable and trustworthy. I have taken its Individual Health Protec...

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    IFFCO Tokio
    On: August 31, 2020
  • Good

    Very good policy.

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    ICICI Lombard
    By Ashvajit Bhupal Patil
    On: August 26, 2020
  • Good

    Very good services. 

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    ICICI Lombard
    By Ramya
    On: August 25, 2020
  • Great service

    Quick processing. Great response. Immediate disbursement of claim.

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    Royal Sundaram
    By Ravindra
    On: August 15, 2020
  • Claim settlement

    Excellent service

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    By Girish Patel
    On: August 10, 2020
  • Suraksha

    Good health insurance policy.

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    By Umesh Mahale
    On: August 05, 2020
  • Prasad

    Excellent policy.

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    By Konalaprasad
    On: August 02, 2020
  • Good Policy

    Bills all claimed properly from Manipal.

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    By Venkateswara Reddy
    On: July 30, 2020
  • happy to have this.

    Yes we can trust this policy. Because they trust us. Thanks a lot. Good job.

    Read More
    By devendra shah
    On: July 30, 2020

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