Best Health Insurance Plans in India 2022

Health insurance plans cover the insured for several healthcare expenses as per the sum insured opted for and the premium paid. Some best health insurance plans in the market are offered by popular insurance companies which have an impressive claim settlement ratio.

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Falling sick is bad enough, but it becomes worse when medical bills follow the suffering. You might not be able to avoid health issues, but you can definitely protect yourself from financial losses arising due to it, with a health insurance plan. A reliable health insurance plan protects you against healthcare expenses in case you fall sick.

What Are Health Insurance Plans?

A health insurance plan is a contract between the insurance company and the policyholder in which the insurer offers financial coverage for the healthcare expenses as mentioned in the policy document, for a specific period of time, as chosen by the insured. In India, there are a variety of health insurance plans that offer different features and coverage benefits.

Best Health Insurance Plans in India 2022

In India, there is a variety of health insurance plans offered by popular insurance companies. Tabulated below are best health insurance plans in 2022 that you can buy for maximum coverage benefits:

Health Insurance Plans

Network Hospitals

Maximum Sum Insurance

Entry Age

Covid-19 Treatment

Star Young Star Insurance Policy

9,900+

Rs. 1 Crore

91 days to 40 years

Covered

Aditya Birla Active Assure Diamond Plan

6,000+

Rs. 2 Crore

91 days and above

Covered

Star Family Health Optima Plan

9,900+

Rs. 25 Lakh

16 days to 65 years

Covered

HDFC ERGO Optima Restore Plan

10,000+

Rs. 50 Lakh

91 days to 65 years

Covered

HDFC ERGO my: Health Suraksha Plan

10,000+

Rs. 75 Lakh

91 days and above

Covered

Care Health Insurance Policy

8,250+

Rs. 6 Crore

91 days and above

Covered

Care Freedom Policy

8,250+

Rs. 10 Lakh

91 days and above

Covered

Bajaj Allianz Health Guard Policy

6,500+

Rs. 50 Lakh

3 months to 65 years

Covered

Niva Bupa Health Recharge Policy

4,500+

Rs. 25 Lakh

3 months to 65 years

Covered

Star Diabetes Safe Policy

9,900+

Rs. 10 Lakh

18 years to 65 years

Covered

What Are Health Insurance Plans?

Health insurance plans / medical insurance 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 the case of a health insurance claim settlement, 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, a medical 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 of treatment without paying even a single penny.

Why Buy Best Health Insurance Policy?

In this era, where healthcare costs are soaring high every day, it is imperative to purchase the best health insurance policy to cover unaffordable medical expenses. The health insurance plans are designed to cover you and your family against hospitalization costs and medical bills to make your future healthy and happy. When it comes to purchasing health insurance plans, you might get confused about which insurance plan to buy out of many.

We at InsuranceDekho can provide you with assistance in selecting a health insurance policy to meet your health insurance requirements. To find the best health cover, you can compare and opt for the best health insurance plan for yourself and your family which will cover your medical expenses, day-care costs, coronavirus treatment, critical illness treatment, and so on, based on your preferences.

Optional Add-Ons to Add in Best Health Insurance Plans

The health insurance add-on covers are optional features and additional coverage that do not include in the standard features of a health insurance plan but have to be included separately by paying a little extra premium. The add-ons or riders enhance the benefits as well as sum insured of the health insurance plans which are to be availed on account of pre-determined events. However, the premium for health insurance add-on covers availed under a single plan should not exceed 30% of its original premium. Let’s discuss a few popular add-ons to include in best health insurance plans:

1. Maternity and Newborn Cover – This add-on cover gives coverage for all expenses pertaining to pregnancy and childbirth. Childbirth comprises hospitalization and surgery costs which can be extremely high based on the hospital where you are admitted. Also, the following months can involve constant spending on the medical care of the child. So, this add-on cover can be very helpful in such circumstances.

2. Hospital Cash Cover – It is a daily cash allowance that is given by the insurance company to the insured individual during hospitalisation. Under this, you get coverage for daily hospital costs of up to Rs. 10,000 daily for 30 days spent in the hospital in a policy year. The pay-out under this add-on covers costs of diagnostics and medical expenses which are not covered under the standard policy which ensure your financial stability during the treatment and even after the discharge.

3. Room Rent Waiver - With this health insurance add-on cover, you can either enhance the sub-limit provided for hospital room rent under your health insurance policy or choose no sub-limit on room rents.

4. Critical Illness Add-on Cover – This add-on cover gives coverage in the form of a payout on the diagnosis of a critical or life-threatening illness. It gives coverage in addition to the sum insured which can be extended to up to Rs. 10 lakhs. This cover makes you deal with your health complications without going through a financial crisis by providing coverage for treatment costs of critical illnesses like cancer, cardiovascular diseases, and so on.

5. Emergency Ambulance Services – No matter what kind of medical emergency is occurred, the expenses of a road ambulance to get the patient to the hospital of your choice can be covered under the emergency ambulance add-on cover. Emergency ambulance costs up to Rs. 30,000 or even more can be covered with this cover, which enables you to avail the best emergency care at any hospital.

6. OPD Add-on Cover – Most people in India access OPD in India rather than getting hospitalised, hence, OPD add-on cover is important to save money by providing reimbursements of doctor consultation charges, dental care, ophthalmic and optic care, and so on. It also gives coverage for online consultations or teleconsultations from certified doctors to cope up with the current pandemic time.

Factors Affecting Your Best Health Insurance Plans Premium

Here are some factors affecting your best health insurance plan premium:

1. Age – It is an important factor that impacts the premium as per the rule of thumb which says the higher the age, the higher the premium as older people have more probability to fall ill.

2. Past Medical History - Your past medical records affects the premium as if you have a history of a pre-existing disease, then your insurance premium will be higher otherwise it will be lesser.

3. Policy Duration – The policy tenure plays a crucial role in premium. The long term plan will have a lesser premium which can increase in case of a shorter policy.

4. Injurious substances - Many insurers enhance their premium rates for their policies and can even refuse to insure people with the habit of smoking, chewing tobacco or snuff as they care more if getting life-threatening diseases such as cancer.

5. Nature of Profession - Policyholders who work in hazardous environments with radiation or chemicals all around or have jobs with high risks such as constructions may have to pay higher premiums as they are more prone to accidents and cardiovascular diseases.

Process to Buy an Online Health Insurance Plan

When it comes to buying a health insurance policy online, it becomes super easy and quick at InsuranceDekho. Here you can purchase a plan in just 3 simple steps:

Step 1: Enter Your Personal Details

Enter all your required personal details correctly and accurately such as Name, Mobile Number, Email ID, Gender, City, and so on, to see top health insurance plans that suit your requirements.

Step 2: Compare Health Plans Online

When you get all the health insurance policy quotes, you should compare them to find the one meeting your budget and requirements in the best possible manner.

Step 3: Make Payment Online

Make the payment for the chosen policy online through a payment mode of your choice and get the health insurance policy document instantly at your registered email ID.

Health Insurance Plan Eligibility Criteria

Here are some eligibility criteria for a health insurance policy:

1. Minimum Entry Age: The age to buy a health insurance policy ranges from 18 years to 65 years. However, in some cases, it can go to 70 and above which can vary from insurer to insurer. Also, the coverage for a child under a health plan usually begins from 16 days to 18 years.

2. Pre-Existing Medical Conditions: While buying a health insurance plan after the age of 45, you may have to go through a few medical tests. If a medical test is not asked for, then you might have to submit a pre-existing condition declaration based on which insurers provide the plan.

Documents Required to Buy Health Insurance Plan in India

You can purchase a health insurance plan by submitting the below-given documents:

1. Age proof – It is important to provide a document for the proof of your age while buying a health insurance plan as it is offered at a fixed entry age. You can submit the below documents for age proof:

  • Pan Card
  • Passport
  • Voter ID Card
  • Aadhaar Card
  • Driving License
  • Birth certificate
  • 10 or 12th Marksheet

2. Identity proof – This document is asked for records to help your insurer identify the genuineness of the person. To prove your identity, you can submit any of the following:

  • Passport
  • Voter ID Card
  • Aadhaar Card
  • Driving License

3. Address Proof – Your insurance company have to make communications on your postal address for which they ask for address proof. You can submit any of the below-given documents for it:

  • Passport
  • Aadhaar Card
  • Ration card
  • Driving license
  • Rent agreement
  • Utility bills like electricity bills, telephone bills, etc.

4. Proposal form duly filled in and signed

5. Medical reports (if demanded by the insurer)

6. Passport-size photographs (if demanded by the insurer).

How to Calculate Premium for Best Health Insurance Plan?

With the help of your InsuranceDekho health insurance premium calculator, you can get the premium of any policy in a few minutes by following the below-given steps:

1. Visit the website of InsuranceDekho, and click on the 'Health' option.

2. Enter your personal details like Name, Age, Gender, Family Members, City, Mobile Number, and E-mail ID and click on the ‘View Instant Quote’ option.

3. Policy quotes of health insurance plans will be displayed with their features and premium.

4. You can add some add-on covers, discounts, etc, to modify your plan and premium amount.

5. Select the best health insurance cover from the available plans and their premium as per your budget and requirements.

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Types of Health Insurance Plans in India

It becomes easy to choose which health insurance policy to buy, when you are aware of different types of health insurance plans in the market. In India, you can choose from 7 types of health insurance plans that cater to varied requirements of people. These are explained below, along with best selling plans in these categories:

1. Individual Health Insurance Plans

Individual health insurance plans cover only one individual, the policyholder, who gains all the coverage benefits offered under them. Under an individual health insurance plan, the insurance company covers the medical expenses of the insured as per the sum insured opted and premium paid. Some common coverage benefits offered under these plans include in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, domiciliary hospitalisation expenses, organ donor expenses, etc. Best suited for people with higher health risks, individual health insurance plans generally come without any limit on the maximum age for policy renewal. This means that the plan offers lifetime renewability benefits to the insured. Also, one can include their parents and immediate family members under the policy, on an individual sum insured basis. Individual health insurance plans cover people on an individual sum insured basis, hence there is no restriction on the number of claims made during a policy term.

Some popular individual health insurance plans available in the market are:

  • Young Star Policy by Star Health And Allied Insurance
  • Activ Assure Diamond Policy offered by Aditya Birla Health Insurance
  • Super Care Policy offered by GoDigit General Insurance
  • Activ Health Policy offered by Aditya Birla Health Insurance

2. Family Floater Health Insurance Plans

Unlike individual health insurance plans, a family floater health insurance plan extends coverage to the entire family, on a floater sum insured basis. One of the best advantages of family floater health insurance plans is that it allows an individual to cover him/herself as well as their family members under a single health insurance plan, thereby making it easier for the insured to manage. When it comes to covering your parents under a health insurance policy, a family floater health insurance policy is an affordable option as compared to a senior citizen health insurance policy. A family floater health insurance policy covers your family members including legally wedded spouse, dependent children, parents, parents-in-law, brother, sister, and other relations varying from plan to plan, at affordable premiums. These plans are recommended for young families as then the chances of making more than one claim are lesser. This allows the member making a claim to get greater coverage at lesser premiums.

Some popular family floater health insurance plans available in the market are:

  • Family Health Optima offered by Star Health & Allied Insurance
  • Optima Restore offered by HDFC General Insurance
  • Reassure Policy offered by Max Bupa Health Insurance

3. Senior Citizens Health Insurance Plans

Senior citizen health insurance plans are tailor-made for people aged between 60 years and 75 years to cater to their respective insurance-related needs. It is recommended to get a senior citizen health insurance policy as most individual or family floater health insurance plans do not offer coverage to people aged above 65 years. Beyond 65 years, they only allow renewals. Some of the unique coverage benefits of senior citizen health insurance plans include daycare expenses, domiciliary hospitalisation expenses, cashless hospitalisation, cover for pre-existing diseases, and cover for specific diseases.

Some popular senior citizen health insurance plans available in the market are:

  • My Health Suraksha offered by HDFC Ergo General Insurance
  • Care Plan offered by Care Health Insurance
  • Senior Citizen Red Carpet Policy offered by Star Health & Allied Insurance

4. Critical Illness Insurance Plans

Critical illness plans cover the insured for life-threatening illnesses that are serious and long-term in nature like heart attack, stroke, paralysis, cancer, renal failure, etc. These plans provide the insured a lump sum amount on the first diagnosis of the critical illnesses covered under the plan. The insured can use the amount received not only to avail of the required treatment in India but outside India as well. The insured can also utilise the amount to pay for debts if any, for the child’s education, or in any other way as per the requirement. It is recommended to be covered under a critical illness policy as the treatments of critical illnesses are expensive. If someone is diagnosed with a critical illness, it may hurt their pocket in case one has to bear the expenses on his/her own.

Some popular critical illness health insurance available in the market are:

  • Care Freedom Policy offered by Care Health Insurance
  • Comprehensive Health Insurance Policy offered by Star Health & Allied Insurance
  • Health companion Policy offered by Max Bupa Health Insurance

5. Women-Specific Health Insurance Plans

Women-specific health insurance plans are especially designed to meet the insurance-related requirements of women in different stages of their lives. For instance, these plans protect women from healthcare expenses at the time of retirement, maternity expenses, cover for newborn baby, cover for child’s education, etc. they also cover women for specific diseases which they are prone to, after a specific age. Even if a woman has an individual health insurance policy provided by her employer, it is still recommended that she should be covered under a women-specific policy. This is because sometimes an individual health insurance policy, unlike a women-specific health insurance plan, does not cater to the specific needs of women and hence they miss out on coverage benefits. Also, these plans come at affordable premiums and generally offer lifetime renewability benefits to the insured.

Some popular specific health insurance plans available in the market are:

  • Health Guard Policy by Bajaj Allianz General Insurance
  • Comprehensive Health Insurance Policy y Star Health & Allied Insurance
  • Care Joy Policy by Care Health Insurance

6. Top-Up Health Insurance Plan And Super Top-up Health Insurance Plans

Top-up and super top-up health insurance plans let the insured enhance the sum insured of their base health insurance policy to cover the shortfall, in case the hospital bills exceed the limit. A top-up health insurance policy kicks in when the amount of claim exceeds the deductible value and the sum insured of the base health insurance policy during a policy term, in case of single hospitalisation. All claims are treated individually in these plans. Whereas, in super top-up plans, the insured gets paid for claims for cumulative healthcare expenses within a policy term when it exceeds the deductible and sum insured limit of the base health insurance plan. A super top-up policy covers you for expenses that are not covered under your top-up or base policy. The only difference is that the super top-up policy takes into account multiple hospitalisations. One can purchase a super top-up insurance policy from any insurance company irrespective of which insurance company’s base policy one has.

Some popular top-up and super top-up health insurance plans available in the market are:

  • Health Recharge Policy by Max Bupa Health Insurance
  • Lifeline Supreme Super Top-Up Policy by Royal Sundaram Health Insurance
  • Extra Care Plus Policy by Bajaj Allianz General Insurance

7. Disease-Specific Health Plans

Disease-specific health insurance plans cater to a particular disease such as cancer, diabetes, heart diseases, etc. It is suitable for people looking for wide coverage for a particular disease. One can choose this plan even if they are already covered under a corporate health insurance plan or any regular health insurance plan. This is because those plans may not always offer sufficient coverage for specific diseases. Disease-specific health insurance plans eliminate the waiting period, which otherwise you are required to complete if covered under a regular health insurance plan. The plan is best suited for people with a family history of a particular disease like hypertension, diabetes, etc.

Some popular critical illness health insurance plans available in the market are:

  • Diabetes Safe Policy by Star Health & Allied Insurance
  • Comprehensive Health Insurance Policy offered by Star Health & Allied Insurance
  • Care Freedom Policy by Care Health Insurance

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How to Choose the Best Health Insurance Plans in India?

There is no one health insurance plan that fits the requirements of all. When buying health insurance online, you must look for a policy that not only suits your budget, but also offers you adequate cover.

Following are the things that you must consider when buying health insurance plans online:

1. Adequate Cover: The first thing that you must look for when buying a health insurance policy online is to check its inclusions. Ensure that the policy keeps you covered at all times by offering protection against a wide range of medical expenses. It is also recommended to take your family’s health history into account and seek cover for any disease that runs in your family. For instance, diabetes, heart ailments, etc.

2. Affordability: To continue availing coverage benefits under the policy, you will be required to pay health insurance premiums on a regular basis. So, when choosing a health insurance plan for yourself and your loved ones, you must go with the one that you find affordable, so that you are able to pay the premium for a long term.

3. Flexibility: Flexibility means that you should be able to add coverage benefits as per your requirement, under a health insurance plan. There are several add-on benefits that you can choose voluntarily under your health insurance plans, by paying an extra premium at the time of policy purchase.

4. Comparison With Similar Health Insurance Plans: Another important thing to do when choosing the right health insurance policy is to compare it with other similar health insurance plans. This helps you find out if you can get better or more useful benefits under some other policy at a reasonable price and thus help you make an informed decision.

Why Comparing Health Insurance Plans is Important?

It is understood that it can be difficult to choose the most suitable health insurance plan from a pool of them in the market. This is why you must compare health insurance plans using InsuranceDekho’s health insurance premium calculator. The free tool not only allows you to calculate premiums for health insurance plans, but also lets you compare them in terms of premium and coverage benefits.

Comparing health insurance plans is hence recommended instead of buying the first plan you saw, as it helps you choose the most suitable one as per your requirement and make an informed decision.

How to Compare Health Insurance Plans Online?

There are more than 25 insurance companies offering more than 200 health insurance plans in the market. It can be a tedious job to select the most suitable one from them, as per your budget and requirement. Here are some important tips that will help you make an informed decision at the time of policy purchase.

1. Choose an Appropriate Sum Insured: Considering the annual inflation rate for healthcare, you must choose a health insurance policy with sufficient sum insured. It is true that health insurance plans with higher sum insured come at higher premiums but to save on that, you must not compromise with the sum insured. This is because a health insurance plan with insufficient sum insured may not be of any use when the time comes.
2. Provide Correct Details to The Insurer: You must reveal all the details as asked, about your health in the proposal form. This because any misrepresentation of information can lead to trouble at the time of claim settlement. The insurer may also reject your form if complete information is not provided by you.
3. Consider Factors Affecting Health Insurance Premium: There are several factors that affect premium for health insurance plans. These include number of members covered under the policy, sum insured chosen, policy term chosen, claim settlement ratio of the insurance company, add-on benefits, premium, and inclusions and exclusions.
4. Reviews: Apart from checking insurance company’s credibility by checking its Claim Settlement Ratio and Incurred Claim Ratio, you must also check how the policy buyers are liking the policy. At InsuranceDekho, you can check numerous reviews for different health insurance plans by people who are already covered under it. This will help you make an informed decision.

Claim Settlement Process in Health Insurance Plans

Under health insurance plans, you can make a claim in two ways, i.e. cashless claim and a reimbursement claim. A cashless claim is when you do not pay anything at the hospital for the treatment availed. Whereas in reimbursement claim, you will be first required to pay for the treatment taken, at the hospital, and the insurance company pays to you later. The claim processes for them are mentioned below:

Cashless Claim

To make a cashless claim, you will be required to follow the steps given below:

  • Immediately inform the insurance company in the event of hospitalisation at a network hospital of your choice. Generally, you are required to inform the insurance company within 24 hours of hospitalisation in case of emergency, whereas 48 hours prior in case of planned hospitalisation.
  • You will be required to share health insurance details at the network hospital. Show your Health ID card or your policy number with a valid photo ID proof at the desk of the hospital.
  • Once the identification has been done, the network hospital will send you the pre-authorisation request form to the insurance company.
  • The insurance company will then verify and analyse the documents and may ask the network hospital for more information if required.
  • Once the formalities have been completed, the insurance company will pay the medical expenses excluding co-payment if any, directly at the network hospital. You will be informed about the same within the stipulated time. Even if the claim is rejected, you will be informed about the same.

Reimbursement Claim

To avail reimbursement treatment, you must follow the steps given below:

  • Inform the insurance company within the stipulated time, in case of hospitalisation. You can also connect directly with the insurance company via email.
  • Avail the required treatment at the hospital if your policy covers you for the same. Collect all the medical test reports, discharge summary, medical invoices, and other relevant documents from the hospital to share to the insurance provider.
  • Submit the claim documents along with required medical documents to the insurance provider.

You will be required to submit the following documents to the insurance company in case of reimbursement claim:

  1. Valid ID proof
  2. Medical practioner’s advising letter for hospitalisation
  3. Original hospital bills and discharge certificate signed by the medical practitioner
  4. Medical practioner’s prescription for consultation, medicine, and medical tests
  5. Original pharmacy bills
  6. Original reports of diagnostic tests, reports, etc.
  7. First Information Report (FIR), in a police case
  8. Post Mortem Report, if applicable.

Benefits of Health Insurance Plans

Health insurance plans protect your savings from getting ruined in case of serious health conditions that result in hospitalisation during the policy period. But most of the people believe that health insurance plans only cover them for hospitalisation expenses, which is not true. The key purpose of health insurance plans is to provide comprehensive coverage to the insured, which they do so by offering protection for various healthcare expenses. Some of these include cover for in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, domiciliary treatment expenses, organ donor expenses, etc. Apart from coverage benefits, health insurance plans also offer other benefits. To understand them in detail, read below:

1. Cashless Treatment

Health insurance companies, generally, have tie-ups with hospitals wherein the insured can avail the required treatment without paying anything except the non-medical expenses or the expenses that the policy does not cover. Network hospitals are present across India and you can avail treatment in any of them, provided the treatment availed is in accordance with the terms and conditions mentioned under your health insurance plan.

2. Comprehensive Coverage

Health insurance plans offer comprehensive coverage by protecting you from several healthcare expenses. These include the following:

  • In-Patient Hospitalisation Expenses: These include expenses incurred during hospitalisation for at least 24 hours. Under this benefit, the health insurance plans mostly cover you for room rent, nursing, boarding expenses, ICU/ICCU expenses, doctor’s fee, etc.
  • Pre-Hospitalisation And Post-hospitalisation Expenses: These are the expenses incurred for a specific number of days before and after hospitalisation. These include doctor’s consultation fee, x-rays, other tests, etc. Different insurance companies have different periods for which they cover these expenses.
  • Ambulance Expenses: These are the expenses incurred due to transportation of the patient to the nearest hospital in case of an emergency. Usually, insurance companies have a limit to these expenses, which varies from one insurance company to another.
  • Domiciliary Expenses: These are the expenses incurred due to treatment availed at home, mainly due to unavailability of beds in the hospital. Mostly, health insurance companies cover you for these expenses.
  • Daycare Treatments: Daycare treatments are those which can be availed in less than 24 hours. These include radiotherapy, dialysis, chemotherapy, cataract treatment, etc. The number of daycare treatments covered may vary from one insurance company to another.
  • Organ Donor Expenses: Most health insurance plans offer cover for expenses incurred on organ donors for harvesting. These include expenses related to surgery and storage of organs.

3. Portability Benefits

Another benefit of health insurance is that it offers flexibility to port from one health insurance policy to another in case you are not satisfied with the benefits offered under the existing one. Apart from giving the customers flexibility, it also saves them from being taken for granted by the insurance companies.

4. Financial Security Even During Rising Healthcare Expenses

A health insurance plan helps you in combating financial stress in case of an emergency even during rising healthcare expenses. It offers you wide coverage even in times of inflation. Therefore, it is recommended to buy a suitable health insurance policy.

5. Tax Benefits Under Section 80D of the Income Tax Act, 1961

The government of India promotes health insurance by offering tax deductions on the premium paid for the plans, under Section 80D of the Income Tax Act, 1961. To understand the tax benefits in detail, refer to the table below:

SituationsPremium Paid (Self, Family, Children)Premium Paid (Parents)Deduction under Section 80D of the Income Tax Act
When Policyholder and Parents are below 60 yearsRs. 25,000Rs. 25,000Rs. 50,000
When Policyholder and family members are below 60 years with parents above 60 yearsRs. 25,000Rs. 50,000Rs. 75,000
When Policyholder, family members and parents are above 60 yearsRs. 50,000Rs. 50,000Rs. 1,00,000
Members of HUFRs. 25,000Rs. 25,000Rs. 25,000
Non-resident IndividualsRs. 25,000Rs. 25,000Rs. 25,000

The utility of health insurance plans not only depends on the features and benefits offered under them but also on how the insured is able to make the most of it. So, if you don’t want your health insurance policy to be underused, you must thoroughly understand its benefits as well as the process to avail of them.

Top Coronavirus Health Insurance Plans in India

As per the instructions of Insurance Regulatory and Development Authority of India, everyone shall be offered cover for COVID-19 treatment under their existing health insurance plans. Apart from the COVID-19 cover offered in existing health insurance plans, the insurance companies have also launched two special standard health insurance products to cover the disease. These are the Corona Kavach and Corona Rakshak Plans.

Corona Kavach Policy

Corona Kavach is an indemnity based health insurance policy that covers you for hospitalisation (of at least 24 hours) expenses due to positive diagnosis of COVID-19. The policy can be purchased by anyone who is aged between 18 years and 65 years, for short terms of 3.5 months, 6.5 months, or 9.5 months. The policy can be bought either on an individual or family floater sum insured basis, for a wide range of sum insured options, as per their requirement. The sum insured options start at Rs. 50,000 and go up to Rs. 5 Lakh (in multiples of Rs. 50,000). Apart from in-patient hospitalisation expenses, the policy covers the insured for pre-hospitalisation and post-hospitalisation expenses, road ambulance expenses, home care treatment, and consumable items like gloves, mask, oxygen cylinders, PPE kits, ventilators, etc. The policy comes at an affordable premium, on which you can avail tax benefits under Section 80D of the Income Tax Act, 1961.

Corona Rakshak Policy

Corona Rakshak Policy is a benefit based short like policy that provides you a lump sum amount equal to 100% of the sum insured, on positive diagnosis of COVID-19. The condition is that the diagnosis should be done at a government recognised diagnostic center and the hospitalisation should be of at least 72 hours. The policy can be bought for 3.5 months, 6.5 months, or 9.5 months, and the premium will be different for different policy terms. One can buy this policy if they are aged between 18 years and 65 years for sum insured options between Rs. 50,000 and Rs. 2.5 lakh (in multiples of Rs. 50,000).

Arogya Sanjeevani Policy: A Health Insurance Policy For All

Arogya Sanjeevani Policy is a standard health insurance policy that protects you and your family against major healthcare expenses. Launched by the Insurance Regulatory And Development Authority of India (IRDAI), the policy is offered by all the insurance companies offering health insurance plans in India. The eligibility to buy this policy is 18 years and 65 years and you can buy the policy for a term of 1 year on an individual or family floater basis. It comes with sum insured options ranging between Rs. 1 Lakh and Rs. 5 Lakh as per your requirement. The policy covers you for in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, AYUSH treatment expenses, road ambulance expenses, cataract surgery for a specific period, new age treatments, and so on. There is 5% co-payment applicable on all admissible claims.

Common Inclusions Under Health Insurance Plans

Every health insurance plan is unique in terms of its offerings. Some common inclusions in most health insurance plans in India are as follows:

  • In-patient hospitalisation expenses
  • Pre-hospitalisation expenses
  • Post-hospitalisation expenses
  • Daycare expenses
  • Domiciliary hospitalisation expenses
  • Road ambulance expenses
  • Organ donor expenses
  • Critical illnesses
  • Health check-up
  • Outpatient expenses

Common Exclusions Under Health Insurance Plans

While health insurance plans offer wide cover for most healthcare expenses, there are still a few expenses that they do not cover the insured for, and he/she shall have to bear them out of their own pocket in case they arise. Some common exclusions are as follows:

  • Cosmetic procedures
  • Dental procedures
  • Expenses related to treatment required due to the insured committing any breach of law
  • Expenses related to treatment required due to participation in adventure sports such as mountain climbing, parasailing, bungee jumping, etc.
  • Congenital diseases
  • Supplements that can be purchased without prescription
  • Pre-existing diseases (covered after waiting period in some plans)
  • Treatments taken outside the geographical boundaries of India

Role of Health Insurance Plans During the COVID-19 Outbreak

The pandemic declared coronavirus has impacted the lives of many in India. During times like these when medical emergencies can arise any time, having a health insurance policy comes in handy. Whether you are married, single, have children, are young, old, or do not have any children, you must have a reliable health insurance policy that protects you in case of serious illness, sickness, disease, or an accident. Whether you choose individual health insurance plans or family health insurance plans, remember that the choice will not only affect the quality of healthcare but also affect your wallet.

During coronavirus times, the policyholders are often confused if the policy under which they are covered protects them from hospitalisation expenses arising due to coronavirus or not. The answer is 'YES'. All new health insurance plans in the market will cover the insured for coronavirus cases after 30 days i.e. the initial waiting period. COVID-19 related claims will follow the normal processes and will be treated as a normal illness like chikungunya, pneumonia, or any other virus. The good news is that so far there is no exclusion.

So, if you still have not insured yourself and your family, then you should get coronavirus health insurance as soon as possible.

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Type of health insurance plans

  • Individual Health Insurance Plan

    It is an agreement between an insurer and a policyholder where former promises of bearing the medical expenses of the latter subject to the limits of the plan. To own this coverage, the policyholder is required to pay premiums to the insurer for getting the coverage without any break.

    • Coverage for pre and post hospitalization expenses
    • You can opt for the best treatments for your loved ones
    • Your savings will not be affected due to any medical emergency
    • Most of the daycare procedures are covered under different plans
    • Tax benefits under the section 80D of Income Tax Act
  • Senior Citizen Health Insurance Plan

    With age, the probability of falling prey to diseases increases. Therefore, a senior citizen health insurance plan is an excellent option, as in older age, the lesser or no income enhances the trouble. These plans are designed to cover senior people aged 60 years and above and provides coverage for diseases, critical illnesses, accidents, etc.

    • Frequent medical expenses can easily be borne with the plan
    • Can afford proper treatment and medication with lesser income too
    • May increase life expectancy with regular and advanced treatment
    • Investment in health policy save the tax under section 80D of IT Act
    • Enhance the savings and bring independence in terms of financial security
  • Critical Illness Insurance Plan

    Treatment of critical diseases is never easy. The procedures related to critical illnesses are highly expensive and prolonged that lead to the loss of a significant amount of savings. These plans provide cover for diseases like kidney failure, heart attack, cancer, muscular dystrophy, and many others.

    • Lump sum amount is offered to maintain the lifestyle
    • The recuperation aid is covered under the critical illness plan
    • Regular health check-ups are also available under such policies
    • Offers the best treatment when it comes to life-threatening disease
    • TA good amount of tax can be saved under section 80D of IT act
  • Maternity Health Insurance Plans

    Pregnancy is a turning point in every woman’s life. At this time, they require the utmost care. With time, medical technology has made delivery procedures safer, more comfortable, but expensive. Everyone wants that the mother and baby should get the most possible comfort during the delivery procedure. Thus, taking a maternity plan is a gesture of perfect planning.

    • Easy to get the delivery done in the best-equipped hospital
    • Regular expenses are curbed with the coverage of consultations, health check-ups, tests, etc.
    • The coverage of newborn baby don’t let the budget be affected
    • Normal and Cesarean deliver cover avoid the financial crisis before delivery
    • With tax benefits, you can save money under section 80D of IT act
  • Group Health Insurance Plans

    The group health provides the insurance to eligible professionals of an organization. Under this segment of insurance plans, the employers purchase the health policies for their employees. The payment for it is made two ways, half of the amount is paid by the employer and the remaining by the employees. It is generally given to enhance the morale of the employees and also to retain the employees.

    • Enhance the retention rate in the firm
    • Boost the morale of employees
    • Make employees avail the plan at economical rates
    • Tax benefits can be earned under section 80D of IT act
  • Personal Accident Insurance Plans

    An accident is an unforeseen and unfortunate event that can happen to anybody and anytime. Also, its consequences may go disastrous and catastrophic. Therefore, a personal accident insurance plan is necessary for dealing with financial hardships during an accident.

    • Expenses of accident-related treatments are covered
    • Severe injuries due to an accident can be treated in the best manner
    • Many personal accident plans covers funeral and legal expenses
    • Worldwide coverage is offered as accidents can happen anywhere, anytime
    • Some plans provide the coverage to the entire family for complete health care

FAQ About Best Health Insurance Plans

  • What are the parameters that I should consider when purchasing a health insurance plan?

    Some of the parameters that you must consider in order to purchase the most suitable health insurance policy include waiting periods for pre-existing diseases, capping or sub-limits, waiting period for specific illnesses/diseases/procedures, co-payment clause, if any, exclusions under the policy, number of network hospitals and if your preferred hospital is a part of the network or not, claim settlement ratio of the insurance company, incurred claim ratio, premium, add-on benefits, if any, inclusions and exclusions, etc.

  • What are the common exclusions under health insurance plans?

    Health insurance plans do not offer cover for all healthcare expenses. Some common exclusions include expenses incurred on treatment due to self-inflicted injuries including suicide, expenses incurred due to participation in any adventurous sport, pre-existing conditions are not covered during the waiting period, venereal or sexually transmitted disease, cosmetic treatments, treatments related to dental, hearing, and vision, expenses incurred on treatment of obesity, and cover for accidents due to participation in defence operations.

  • Do health insurance plans cover healthcare expenses related to COVID-19?

    Yes. Standard health insurance plans offer cover for expenses incurred due to positive diagnosis of COVID-19. The health insurance policy will cover you for in-patient and outpatient expenses arising due to treatment of COVID-19. You can also purchase health insurance plans especially designed for coronavirus. These include Corona Kavach Policy and Corona Rakshak Policy. These are short term policies that offer cover against the pandemic declared coronavirus. For more information about these policies, you can connect to the customer care executives at InsuranceDekho and they will help you understand them in detail. 

  • What are the benefits of having a health insurance policy?

    A health insurance policy offers you a cashless treatment facility allowing you to get the required medical treatment at the network hospital without paying even a single penny. It offers you several benefits apart from cashless treatment, such as pre-hospitalisation and post-hospitalisation expenses, tax benefits under Section 80D of the Income Tax Act, 1961, daily hospital cash benefit in some plans, organ transplant expenses, No Claim Bonus, lifetime renewability benefit, automatic restoration of sum insured, etc.

  • What is the restoration benefit under health insurance plans?

    If your sum insured amount gets exhausted under a health insurance insurance policy due to claims made in a policy year, then the insurance company will restore the amount automatically without having you to pay anything extra to avail the benefit. Health insurance plans that offer restoration benefits are generally available at higher health insurance premiums.

  • Can I make a claim for all healthcare expenses up to the sum insured limit?

    No. Health insurance plans come with multiple sub-limits which can be for specific treatments, doctor’s consultation fees, pre-planned surgeries like cataract, joint replacements, pre-planned surgeries, etc. You cannot claim an amount that exceeds your sum insured limit. Many health insurance plans also come with room rent limits, ICU charges, surgery expenses, doctor’s fees, lab test expenses, etc. for which the cover is offered proportionately.

  • What are some good health insurance plans in India?

    Some popular health insurance plans that offer wide coverage and yet come at affordable premium include Essential Privilege Plan offered by Universal Sompo Health Insurance, Health Guard Plan offered by Bajaj Allianz Health Insurance, Family Health Optima offered by Star Health insurance, and My: health Suraksha offered by HDFC Ergo General Insurance.

  • Which is the best medical insurance policy in India?

    There is not one, but many health insurance plans in India that offer great benefits to the policyholders. These include Prohealth Plus offered by ManipalCigna Health Insurance, Lifeline Supreme offered by Royal Sundaram Health Insurance, and Activ Assure Diamond offered by Aditya Birla Health Insurance.

  • What is the importance of health insurance in India?

    Purchasing health insurance for yourself as well as your family is important in India because lifestyle diseases are becoming very common and healthcare expenses are skyrocketing, especially in private hospitals. So, if you do not have a suitable health insurance plan, it may burn a hole in your pocket.

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