Health Insurance
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Best Health Insurance Plan For 2023
Several new and attractive health insurance schemes are introduced as the demand for health insurance is increasing. At insurejoy.com let us analyse the best health insurance plans available in India.
Origin of
Health Insurance In India
Health Insurance was introduced in India in 1948. It started as Employees State Insurance Scheme (ESIS) where it provided health care services to blue-collar workers through network hospitals. Later General Insurance Corporation (GIC) in 1986 was the first to launch the Mediclaim policy in India. Since then the health insurance sector is one of the most emerging sectors in India. The COVID-19 pandemic has created an awareness among people to purchase Health Insurance in India.
Top 3 Reasons
To Have Health Insurance
Health insurance is one of the most important things that you can buy for yourself and your family. Here are the top three reasons why you should purchase health insurance;
It saves your money on healthcare expenses. The good news is that all health insurance plans cover certain services at no cost when you use an in-network provider. The expense covered could be your annual physical check-up, emergency care, or a medical prescription. Accidents may happen and anyone can get sick so it's best to be prepared.
As years pass by health care can get pretty expensive and it is important to deal with medical inflation.
It also helps you stay healthy through annual checkups and help prevent serious medical conditions. Some plans even offer free visits for medical counselling or value-added wellness programs or discounts on fitness gear and programs that help you lose weight.
Understanding the Basics of
Health Insurance Plans
The basic idea behind Health Insurance is that it offers financial protection to you and your family in case of hospitalisation or medical emergency by getting your expenses either reimbursed or you can go cashless where the insurance companies settle the hospital bills directly to the hospital. Health insurance offers double benefits i.e. it provides health coverage and offers tax benefits too.
Why Is the Demand
For Medical Insurance Increasing?
Post-Covid situation people are realising the need for health insurance. It is time to make some adjustments to your monthly budget and invest in a health insurance plan. Let us understand why do you need Health Insurance and the reason behind the increasing demand.
- Save Money Health insurance saves your wallet from depleting your money during hospitalisation which is the main reason why many people prefer to purchase a health insurance plan.
- Cashless Treatment Network hospitals provide a cashless treatment facility.
- Tax Benefits People get double benefits from health insurance as it provides tax benefits.
- Quality Healthcare The in-network hospital provides quality treatment to its policyholders.
- Extensive Coverage The pre-hospitalisation and post-hospitalisation expenses are covered by the health insurance plans.
- Critical Ailments Cover The health insurance plan gives coverage for various critical ailments, medical treatments, and surgeries.
- Covid Cover It also provides coverage for corona treatment.
Start your coverage
Choose Your Perfect Plan
It is important to purchase a health insurance plan, but it is more important to choose the right plan according to your needs. There are different types of plans available in India.
Staying healthy will make you eligible for a no claim bonus and get an additional sum insured every year.
This plan is quite useful for young individuals who have just started their careers and wish to purchase their first insurance policy. An individual plan will provide cover for a single person, i.e. the policyholder. The plan covers have got the individual covered for daycare procedures, Ayurvedic treatment, Homeopathic treatment, pre and post hospitalisation charges, certain surgeries, ambulance charges, and also cashless facility. An individual should purchase an insurance plan at a very young age to avail of lower premium rates.
This plan has extensive coverage for you and all your family members. This one plan gets your entire family covered which can be cost-effective. Each family member shares the maximum sum insured according to the policy. A family floater plan covers your immediate family members like parents, spouse, dependent children, brother and sister.
This plan is specifically designed to cater to the needs of senior citizens. The plan is expensive as compared to other plans as senior citizens are more prone to health issues. It covers all the treatment charges, medical bills, and surgeries. This plan has a co-payment clause in the policy scheme.
This plan covers the expenses for life-threatening diseases like cancer, stroke, kidney failure, etc. This plan is specifically designed to cover the treatment cost for critical illnesses that are expensive. This plan provides a payable benefit once the policyholder is diagnosed with any one of the critical illnesses.
This plan allows you to upgrade the already existing plan. You can enhance your basic health insurance plan to get more coverage and benefits.
As the corona waves keep coming back and the pandemic has taken a toll on the lives of people it is important to have health insurance specifically designed for such situations. This plan covers all the hospital expenses and medical bills of the policyholder if they are diagnosed with the Covid-19.
If a policyholder is severely affected by an accident or gets disabled due to the accident this plan will provide financial stability to the family member during such a crisis.
Certain plans are available in the market that is specifically designed to cater to the insurance-related requirement that a woman might need in different stages of their lives. The plan covers maternity expenses, healthcare expenses and treatment expenses for specific diseases are also covered.
How Will You
Benefit From Health Insurance?
On purchasing health insurance you can avail several benefits from the plan.
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No Claim Bonus
Staying healthy will make you eligible for a no claim bonus and get an additional sum insured every year.
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Eligible For Tax Deduction
A health insured person is eligible for tax deduction according to Section 80D of the Income Tax Act.
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Pre And Post Hospitalisation Treatment.
It helps you save your money by incurring medical expenses during pre and post hospitalisation treatment
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Ambulance Charges Are Covered
During a medical emergency, the ambulance charges are covered by the insurance company.
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Cashless Facility
You can avail of a cashless facility provided you get treatment in the network hospitals.
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Pre-Existing Diseases
Pre-existing diseases are covered after completing the waiting period as per the policy.
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Hospitalisation Expenses
It covers most of the hospitalisation expenses like room rent, medical bills, consultation fees, treatment fees, etc.
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ICU Coverage
The plan provides coverage for getting treated in ICU or Intensive Care Unit.
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Daycare Procedures
Daycare procedures are also covered where the patient has to be hospitalised for less than 24 hours.
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Free Annual Check-Ups
Health Insurance plans provide free annual check-ups.
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Homoeopathy And Ayurvedic Treatment
Homoeopathy and Ayurvedic treatment expenses are also covered.
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Renew Every Year
Once the health insurance is purchased, you can renew the plan every year lifelong.
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Organ Donor Expense
In case the policyholder needs an organ transplant the medical expense needed for harvesting the organ is also covered.
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Daily Cash
Daily hospital cash is provided to the policyholder during hospitalisation for a certain period to take care of any additional charges like travelling, food, etc. This hospital cash can be a certain amount given daily for 7 days and up to 120 days as per the policy norms.
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Domiciliary Hospitalisation Covered
If the policyholder is unable to take treatment in the hospital due to certain reasons like shortage of beds, etc. and if the treatment is taken at home as per the doctor’s advice then the insurance companies will cover the expenses for the treatment taken.
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Sum Insured is Restored
Many people are worried about the exhaustion of sum insured. But nowadays health plans offer sum insured restoration benefits wherein the sum insured is restored as per the policy terms.
Compare
Health Insurance Plans at insurejoy.com
There are almost more than 300 health insurance plans and about 25 insurance companies available in India. It becomes tedious to visit each insurance company and get their plan details. Here at insurejoy.com, we have made your work easier by compiling all the best plans and save your valuable time by giving you a detailed comparison of the best plan available in the market. insurejoy.com is an easy platform to compare various plans and to understand their benefits and features.
Select a Reputed Insurance Company
It is important to select the health insurance plan from a company that has a good brand image.
Customer Service & Reviews
Read the customer reviews and comments of the company to get an idea about their customer support.
Quick Claim Settlement
Check the claim settlement ratio of an insurance company. The claim settlement is the most important process which should be quick and hassle-free.
Sum Insured Factor
The premium amount of your policy depends on the Sum Insured amount you have selected. Keeping economic inflation in mind it is necessary to select the maximum sum insured at the best premium rates.
Good Financial Stability
Check the ratings of the insurance company at CRISIL. The insurance company that has an AAA rating is considered to be a financially sound company.
Compare At a glance
Best Health Insurance Plans Available in India for 2023
Finding the best plan is quite hard because each individual has specific needs. To make things easier, we have made a comparison table of the best plans available in India. Compare Health Insurance and make a wise decision in choosing your ideal plan.
The plans have been categorised based on the type of health insurance.
BEST INDIVIDUAL HEALTH INSURANCE PLANS IN INDIA
The individual health insurance plan covers a single individual and offers all the benefits and coverage amount to the policyholder alone. This plan offers medical coverage to an individual based on the amount of premium and the sum insured. It includes all the hospitalisation features such as in-patient hospitalisation expense, organ donor expense, daycare expense, pre and post hospitalisation expense, cashless feature, domiciliary hospitalisation expense, Ayurvedic and homeopathic expense, etc. This plan is best suited for individuals who are not married and need health insurance for themselves. Certain insurance companies allow to include parents under this policy. Some of the popular health insurance plans for individuals are discussed below.
| Individual Health Insurance Plans | Sum Insured in Rs. | Entry Age | Best Features |
|---|---|---|---|
| Young Star Insurance Policy | Rs.3 lakh – Rs. 1 crore | 18 years- 40 years |
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| Active Assure Diamond Health Insurance by Aditya Birla | Rs.2 lakh – Rs. 2 crores | 5 years- 65 years |
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| Digit Health Plus Policy by GoDigit General Insurance | Rs.2 lakh – Rs. 2 crores | 18 years- 60 years |
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| Activ Health Platinum- Enhanced Plan by Aditya Birla Health Insurance | Rs.2 lakh – Rs. 2 crores | Min 5 years |
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BEST FAMILY HEALTH INSURANCE PLANS IN INDIA
The family floater plan provides health insurance coverage to the entire family under a single sum insured. Every family member can enjoy the benefits of the health insurance plan. Below are the best family health insurance plans in India.
| Plan Name By Insurance Company | Entry Age | Premium (in Rs.) | Best Features |
|---|---|---|---|
| Heartbeat Family Health Insurance By MAX BUPA Health Insurance |
Min- 91 days
Max- No Limit |
16,414 |
|
| My Suraksha Plan By HDFC ERGO |
Min- 91 days
Max- No Limit |
18,277 |
|
| Star Health Family Optima Plan By Star Health Insurance |
Min- 18 years
Max- 65 years |
17,063 |
|
| Care Insurance By Care Health Insurance |
Min- 91 days
Max- No Limit |
16,613 |
|
| Health Infinity Health Insurance Policy By Reliance General Insurance |
Child:
Min-91 days Max-25 years Adult: Min-18 years Max- 65 years |
15,347 |
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| Health-Guard Platinum By Bajaj Allianz |
Min- 3 months
Max- 65 years |
18,474 |
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| Medicare Protect By TATA AIG |
Min- 1 month
Max- 71 years |
19,221 |
|
BEST CRITICAL ILLNESS HEALTH INSURANCE PLAN IN INDIA
This plan covers various life-threatening diseases like stroke, cancer, renal failure, coma, organ transplant, paralysis, etc. If the policyholder is diagnosed with any of the critical illnesses they will be paid a lump sum amount by the insurer. The best critical illness health Insurance plans are discussed below.
| Critical Illness Insurance Plan | Sum Insured in Rs. | Entry Age | Best Features |
|---|---|---|---|
| Care Critical Mediclaim Plan | Rs. 1 lakh to Rs. 2 crores |
Min 5 years
Max 50 years |
|
| Max Bupa Criticare Health Insurance Plan | Rs. 3 lakh to 2 crores |
Min 18 years
Max 65 years |
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| STAR Criticare Plus Health Insurance Plan | Rs. 2 lakh- Rs 2 crores |
Min 18 years
Max 65 years |
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| Manipal Lifestyle Protection Critical Care | Rs. 1 lakh- Rs 2 crores |
Min 18 years
Max 65 years |
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| Royal Sundaram Lifeline Critical Illness Health Insurance Plan | Rs. 2 lakh- Rs 2 crores |
Min 91 days
Max No limit |
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| ICIC Lombard Complete Health Insurance | Rs. 2 lakh- Rs 2 crores |
Min 3 months
Max No limit |
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| Aditya Birla Activ Secure | Rs. 1 lakh- Rs 2 crore |
Min 5 years
Max 65 years |
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BEST SENIOR CITIZEN HEALTH INSURANCE PLAN IN INDIA
Senior Citizen health insurance plans are best suited for individuals aged 60 years and above. They are specifically designed to cover old age-related health issues. Let us discuss few best senior citizen health insurance plans. Compare Health Insurance plans and purchase the best suitable scheme.
| Senior Citizen Health Insurance Plan | Sum Insured in Rs. | Entry Age | Best Features |
|---|---|---|---|
| New India Senior Citizen Mediclaim Policy | Rs. 1 lakh – 1.5 lakh |
Min 60 years
Max 80 year |
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| Bajaj Allianz Silver Health Plan | Rs. 50,000 – 1 lakh |
Min 46 years
Max 70 year |
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| STAR Red Carpet Health Insurance |
Individual- Rs.1 lakh- 7.5 lakh
Family Floater- Rs.10 lakh- Rs 25 lakh |
Min 60 years
Max 75 year |
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| Aditya Birla Active Care | Rs. 3 lakh – 25 lakh |
Min 5 years
Max 80 year |
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| TATA AIG MediSenior | Rs.2 lakh, 3 lakh, 5 lakh | 61 years and above |
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Health Insurance Plan That Covers COVID-19 Treatment
With the outbreak of Coronavirus and neverending corona waves, it is important to get health insurance that includes COVID-19 cover. IRDAI has launched schemes that are specifically designed to cater for the needs of the corona patient namely Corona Kavach Policy and Corona Rakshak Policy.
| Features | Corona Kavach Policy | Corona Rakshak Policy |
|---|---|---|
| Entry Age | 18 – 65 years |
Children: 90 days – 25 years
Adult:18 – 65 years |
| Type of Plan | Family Floater | Individual |
| Hospitalisation Duration Required | 24 hours | 72 hours |
| Sum Insured | Rs.50,000-2.5 lakh | Rs. 50,000- Rs.5 lakh |
| Claim Payment | Hospitalisation expenses are covered | Payment is given in lump sum amount after being diagnosed. |
| Policy Tenure | 3.5 months, 6.5 months, 9.5 months | 3.5 months, 6.5 months, 9.5 months |
| Benefit |
|
|
Some popular Health Insurance plans that cover COVID-19 are
- New Indian Assurance Corona Kavach Policy
- Future Generali Corona Kavach Policy
- Max Bupa Corona Kavach Policy
- Iffco Tokio Corona Kavach Policy
- Star Corona Rakshak Policy
- Future Generali Corona Rakshak Policy
- Iffco Tokio Corona Rakshak Policy
Why choose us?
Advantage of Comparing & Purchasing the Health Insurance Plan at insurejoy.com
- You can save a lot of time by studying the detailed comparison table about the best plan available in India.
- We have provided the right information about the best plans so that you can make an informed decision.
- You do not have to deal with agents as you can directly purchase the insurance plan at insurejoy.com.
- Our online portal is user friendly and convenient to access.
- No brokerage charges or agent charges have to be paid during online purchases.
- You can easily compare the premium rates and purchase the best suitable plan.
- insurejoy.com provides a comparison of plans from leading brands such as Aditya Birla, STAR Health Insurance, TATA AIG, HDFC ERGOetc.
- At insurejoy.com all the insurance plans are available under one roof so the decision of purchasing the best plan becomes very easy.
- You can purchase the best plan at insurejoy.com within few minutes by just filling the online proposal form.
Always Remember
How to Buy the Best Plan?
insurejoy.com, your most trusted insurance advisor, present some effective tips to buy health insurance!
Know the policy benefits of your plan
Check on if the plan has maximum benefits like hospitalisation features should be covered, Ayurvedic or homoeopathic treatments are covered. You can check if the policy allows you to restore the sum insured amount which is pretty important. Certain plans encourage you by giving discounts for no claim year.
Do thorough research on the Insurance Company
Once you have decided on the health insurance plan to be purchased research on the insurance company is an important factor. Check if the company has a good claim settlement ratio and nearby network hospitals around you. Read some reviews of customers and ask for reviews from friends and family members about the company.
Purchase a plan based on your requirement
Ask yourself if you need health insurance for yourself or your family members too. In this case, you can opt for the individual plan if the insurance is for yourself or a family floater plan if you wish to cover your entire family. Depending upon the age, medical history and lifestyle habits you can avail critical illness plans if you are at risk of certain diseases. In case you are perfectly healthy, you can go for top-up health insurance plans that will allow you to renew the plan every year.
What is Covered
Features That Are Inclusive in the Policy
Health insurance policy has certain coverage benefits can be included in the plan. The following hospitalisation features included are discussed below.
1) Pre & Post Hospitalisation charges
This covers medical expenses like lab tests, medical check-ups, etc done before hospitalisation. It covers the necessary medical tests required to ensure the patient's health after being discharged from the hospital.
2) In-Patient Hospitalisation Expenses
If the policyholder is hospitalised for more than 24 hours then all the medical expenses during hospitalisation can be claimed.
3) Ambulance Charges
If an ambulance is required during an emergency then this expense is also covered, though the amount varies from policy to policy.
4) Pre-Existing Illness
If the waiting period for the pre-existing illness is completed the policyholder can file a claim for the treatment or surgery expenses due to any pre-existing illness.
5) Annual Health Check-Ups
Most of the health insurance plans include annual health check-ups for the policyholder.
6) Domiciliary Hospitalisation
In case the policyholder is asked to take treatment at home instead of being hospitalised by the medical practitioner due to lack of beds or some other reasons then this expense is covered by the insurance company.
7) Ayush Benefits
The health insurance plan also covers the expenses for Ayurvedic, Homeopathic, Unani and Siddha treatment.
8) Daycare Procedures
Certain treatments do not require more than 24-hour hospitalisation. Such procedures are also covered by health insurance. These surgeries include eye surgery, dialysis, and other daycare surgeries.
9) Organ Donor Expenses
The health Insurance companies cover the expenses for organ donation which is indeed a noble deed.
10) Maternity expenses & New Born Baby Cover
The health insurance covers the maternity expenses and any medical expenses for the treatment of a newborn baby.
11) Daily Cash Benefit
Certain health insurance companies provide daily cash during the hospitalisation period.
What is Not Covered
Exclusions in Health Insurance Policy
Exclusions in health insurance are conditions where the insurance agents will not pay the coverage. The medical expenses will not be covered under the following circumstances.
- Cosmetic Surgeries Excluded: Plastic surgery or cosmetic surgery is not included in the policy unless it is a part of a medical necessity due to an accident
- Rehabilitation, long-term care by nurses or a private duty nursing, sanatorium treatments are not included in the policy
- Vaccination and immunisation is not a part of a health insurance policy
- Pre-existing disease and critical illness coverage have a waiting period of 2-4 years
- Any health issues or injuries caused by suicidal attempt or war or terrorism is not covered
- Dental or Vision surgery expenses are not covered
- Claims that arise at initial 30 days are not covered unless it is an accident.
Important Points to Consider
Before Purchasing a Health Insurance Plan
There are more than 200 insurance policies available in the market. It might be a bit overwhelming with so many options available in hand, but it is important to choose a plan by considering certain factors.
Sum Insured Amount
It is important to choose a plan that has adequate coverage. Keeping in mind the rising inflation maximum sum insured has to be chosen. Choosing a higher sum insured will give you better coverage and benefits.
Check on the Policy Benefits
Every policy has certain unique benefits. It is better to research the scope of benefits that you can avail yourself of through your policy. Certain benefits that you can look for is daily cash, COVID cover, hospitalisation treatment expense, critical lines cover, etc.
Choose based on Policy Types
There are different types of policy available like the individual policy, family floater policy, senior citizen policy, women's policy, top-up policy, etc. Choose the type of policy that you require.
Inform of any Pre-Existing Diseases
Keep your insurer informed about any pre-existing medical conditions.
Waiting Period
The health insurance policy is activated only after the waiting period is over. Keep track of the waiting period, since any claims made during the waiting period is not applicable. Certain diseases like blood pressure, diabetes, thyroid, etc, will have a waiting period clause. It is best to choose a plan with a minimal waiting period.
Co-Payment Clause
Certain plans require co-payment, i.e., the expenses will be borne by the insurance and the policyholder. Read the clause of the policy carefully before purchasing the scheme.
Network Hospital with Cashless Benefit
Before purchasing a plan it is best to check the list of network hospitals available. Make sure the network hospitals provides cashless benefit and are in your vicinity.
Life-Long Renewability Option
Make sure to opt for the lifelong renewability option so that the insurance can be renewed every year.
Claim Settlement Ratio
The claim settlement ratio is an important factor to consider. An insurance company with an 80% and above claim settlement ratio is considered to be the best option.
Additional Loading Charges
Certain plans have premium loading charges that are additional amounts is charged in the premium especially in the senior citizen plan. It is best to opt for health insurance that does not have any loading charges.
Early Investing
It is better to get insured at an early age, to reduce the premium rates.
Documents Required
To Purchase Health Insurance
- Passport size photographs
- Proposal form
- Any Residential proof: Voter Id, Aadhaar Card, Passport, Electricity Bill, Driving Licence, Ration Card
- Any Age Proof document: Aadhaar, Birth certificate, Passport, PAN, 10th or 12th mark sheet, Voter’s ID, Driving Licence
- Personal Identity Proof: Aadhaar, Passport, PAN, Voter’s ID, Driving Licence
Health Insurance Renewal
What is Health Insurance Portability?
Renewing your Health Insurance is very important just as you renew your vehicle insurance every year. If a policyholder fails to renew within the expiry date he/she will be provided a grace period of 30 days. But any claim during this 30 day grace period will not be allowed. The policyholder has to renew the health insurance policy within the grace period. If an individual fails to renew even during the grace period, then the policyholder will lose the insurance and its benefits like no claim bonus, waiting period, etc.
In case of claim
What Types of Claim Procedures Are Available?
A policyholder has two options when it comes to claiming settlement i.e. cashless claim settlement and reimbursement claim settlement procedures. Both the claim settlement methods provided by the health insurance company are easy and quick.
Reimbursement Claim Procedure
If the policyholder opts to get treatment in a non-network hospital then the individual is eligible for reimbursement claim procedure. In this method, the policyholder has to pay the hospital expenses first and then later you can file a claim for reimbursement of the money. Once you submit the necessary documents, medical records and medical bills to the insurance company they would approve the process and the money will be credited to your bank account.
Cashless Claim Procedure
Cashless benefits can be availed if you prefer to get treatment in the network hospital. This type of benefit is available only in-network hospitals where you do not have to pay the medical bills. For the cashless claim settlement process, you just have to show the health card provided by the insurer and fill out certain forms. Once the insurance company approves the process the medical bills will be directly settled by the insurance company to the network hospital.
Health Card
Every insurance company provides a health card to their customers. This card can be used to avail cashless benefits at network hospitals. In case of emergency hospitalisation treatments like accidents, the health card should be provided in the network hospital along with a pre-authorization letter. The insurance company will verify and approve the process for cashless benefits.
In the case of a planned surgery in a network hospital, the claim settlement is easy and simple. You just have to show the health card provided by the insurance company and fill out the pre-authorisation form. After verifying the forms the insurance company will approve the cashless benefit claim process.
Frequently Asked Questions
Nothing is certain in life and it is better to be safe than sorry later. It is a myth that healthy people do not need health insurance. It is always better to be financially safe by taking health insurance. A healthy and young individual will be charged a lesser premium than a middle-aged person who is prone to get a disease. Purchasing health insurance at an early age will help beat inflation and rising medical costs.
There are various plans available like child plan, individual plan, family plan, senior citizen plan, etc. Each plan has different age criteria. An individual from 18 years – 65 years can apply for health insurance.
Yes, an individual can have more than one policy as there are no limitations.
Nowadays insurance companies have started providing health insurance policies without any medical tests. It is an attractive offer made by the company to attract customers. But the truth is it is best to get a medical test done before getting a policy as it will rule out any claim rejection possibilities.
Generally, a health insurance company allows filing a claim one or two times during the policy tenure. But some companies offer unlimited claims in their policies. It is better to read the terms and conditions well before purchasing a plan.
Certain disease like HIV/AIDS is not covered by the health insurance company. Apart from that other diseases like dental treatment or surgery (if not a part of the plan), congenital diseases, general debility, etc are not covered.
If the medical insurance is renewed on time before the expiry date then it is not necessary to take a medical checkup, though the insurance company will occasionally check your medical history based on your age.
Yes! The policy is valid all across the country as most of the health insurance companies have numerous network hospitals in different states.
No, most of the insurance policies are not valid outside the country.
Many people are worried about the exhaustion of sum insured. But nowadays health plans offer sum insured restoration benefits wherein the sum insured is restored as per the policy terms.