Health insurance: covers the health risks of a person that contains medical bills, spreading the danger over many persons. It is an insurance cover to decrease the finances of the family during a medical emergency.
It provides a specific coverage amount for a single premium payable yearly. Family members regularly covered in this plan comprise a person, spouse, and children. It is a type of assurance coverage that gives for a medical and surgical operating cost that acquired through the insured.
Health Insurance is basically a contract between an Individual and Insurance company, in which you pay a fixed premium annually for which insurance company will cover all your expenses ( hospitalization expenses ).
When you sign up for a health insurance plan you’ll pay a monthly fee called a PREMIUM in return the health insurance company will pay a portion of your covered medical costs.
Each plan is different but most cover preventive care doctor and hospital visits and prescription drugs you can choose a plan that best fits your medical needs as well as your budget and depending on your income.
Before we know How to Choose Best Health Insurance Let us know what it actually it is and what it really does.
Health Insurance plays a very vital role in life. Most of the time people think that why to waste money to purchase the product which is not useful in their daily life.
But they don’t know that this is without doubt one of the must-have factor or I ought to say that this is the need at this time.
Here comes using Health Insurance, when you have bought this product in keeping with your want then you’ll not face any monetary drawback referring to your well being. Nowadays you’ll be able to apply for medical health insurance from banks as effectively.
If you get admitted to the hospital then the best benefit that most of the hospitals are now operating with cashless facilities provided by the Insurance companies. Which are now available easily in your banks also.
Benefits of having a health insurance policy
- Cashless Treatment: If you have health insurance, you get a cashless treatment facility at network hospitals.
- Tax Benefit: Premium you pay for your health insurance comes with a benefit of saving tax under section 80D.
- No claim bonus: This is an additional benefit that will increase your sum assured if you have taken the policy and not claimed for a year.
- Pre and Post hospitalization: Pre hospitalization charges for 30 days and 60 days post-hospitalization charges can also be claimed.
- Ambulance charges: The insured person will also get the ambulance charges for commuting from home to hospital but only once.
- Free medical checkup: Yet another benefit of health insurance policy is a person also gets free health checkup once in a year.
- Daycare: Now there are some injuries for which you don’t need to get admitted to hospitals ( fracture, cataracts, etc) for that also you get covered.
Things to keep in mind while taking a policy
Here are a few additional tips while how to choose best health insurance policy.
- Choose sum assured very seriously and according to the age.
- Check if there is any room rent capping is there.
- no claim bonus percentage increment.
- Pre-existing disease coverage waiting time.
There are two types of claim settlement done by the companies.
- Cashless Claim
Let’s say the insured person is admitted to some hospital, nowadays health insurance executives are available in their network hospitals. What you need to do is simply visit the insurance desk and inform them that you are getting admitted to the hospital for so and so reason. The best part is that you may get your processing done in a couple of hours and get approval from health insurance companies.
- Reimbursement Process
Now, this issue comes when you have visited any doctor who has his own clinic. No problem, in that case also you just need to take all the bills and reports safe with you and just present all the required documents in the health insurance office. Wait for few days your money will get reversed in your account.
Let us now discuss about the best HEALTH INSURANCE Companies in INDIA:
Religare Health Insurance
- This insurance is one of the super health insurance in India that offers the best health insurance coverage, serious illness, own accidents, international travel insurance, top-up coverage, and parenthood along by group health insurance.
- The Religare claim ratio is 93% and 51.97% higher ICR. This plan has more than 5420 hospitals in its system. Religare CARE health insurance benefit is one of the best family floater policies in India.
- It has recently begun this plan with a reason to give the best health cover of 1 crore Rs at a premium of the general policies.
Tata AIG Insurance is a 20-year-old combined scheme with reliability between Tata and AIG Group that takes an iAAA rating through ICRA for peak claims-paying aptitude. The individual death declares proportion for 2018-2019 was 96.12%. The company has admittance to 4000+ network hospitals.
These health plans come in 3 variants like Medicare, Medicare Premier, and Medicare Protect.
- Medicare – The amount insured ranges from 3 Lacs Rs to 20 Lacs Rs.
- Medicare Premier– The amount insured varies from 5 Lacs Rs to 50 Lacs Rs.
- Medicare Protect – The amount insured below Medicare defend plan ranges from 2 Lacs Rs to 5 Lacs Rs.
This type of insurance offers exposure for many illnesses, contact to hospital networks, and cashless maintain. The claim resolution relation of Max Bupa is 91.2% and a higher ICR of 51.96%. Max Bupa has more than 3000 hospitals in its network.
There are three variants in the Max Bupa plans that are Silver, Gold, and Platinum.
- Silver– It is an essential health insurance plan that covers in-patient care, pre & post hospitalization costs, and the daycare process. It also provides maternity advantages for two kids and includes the newborn baby as well.
- Gold– This variant has all features of the Silver plan and an extra element of cover for AYUSH healing.
- Platinum– This variant provides every feature of the Gold plan and has many features like no limit on hospital room type. It also covers international cure for specific illnesses like cancer.
Bajaj Allianz Health Protect Plan – Family Floater Plan
This plan covers your complete family on a floater base. It is a cover used to gather hospitalization or other acceptable expenses for several insurer members under the plans.
The main advantage of this plan is that the general surgeries that carry for aged-people like cataracts, dual replacement, and so on. These covered after a waiting period of 4 years.
It also provides admiring health checkups for all continuous policy for four years.
Apollo Munich Easy Health Individual Plan
It is an individual health policy that offers in-patient insurance, pre and post hospitalization fixed cost cover-up along through AYUSH healing cover. There are three variants in Apollo Munich Easy Health Individual Plan that are Standard, Exclusive, and Premium.
- Standard Plan – This plan includes insurance for in-patient fixed cost, pre and post-hospitalization costs, daycare cover-up, domiciliary action cover, and organ transfer cover. It also contains Rs.20000 assured in support of AYUSH treatment. You can maintain a cash advantage of Rs.500 for every day.
- Exclusive Plan – This plan includes all the benefits of the standard policy by several additional features like AYUSH cure cover of 25000 Rs. The hospital cash advantage is between 500 Rs to 1000 Rs for every day that depends on the amount insured. There is hospital profit for accompanying a covered child between 300 –800 Rs per day according to the cost insured. It includes maternity advantages like 15000 Rs for normal delivery and 25000 Rs for delivery.
- Premium Plan – This premium plan includes additional benefits like Spectacle, contact lens, and hearing aid charges that are covered between an edge of 5000 – 7500 Rs all 3rd year.
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Insurance Plan – Cigna TTK ProHealth Plus
It is a health plan that not only provides the usual advantages but also offers repayment able to the sum insured. If you hospitalized out of the country then this plan also covers the price of specialist opinion on the listed dangerous illness. This insurance plan also includes some advantages that are below.
- Ambulance includes 3000 Rs for all time when you get hospitalized.
- Maternity exposure is up to 15,000 Rs. for normal delivery and 25,000 Rs for C-section after two years of the waiting period.
- You can also free complete health checkup at each renewal.
HDFC Ergo Health Suraksha
This plan is for an individual with affordable rates in this catalog and also known for the Regain advantage plan. It provides a return advantage when the amount insured gets in the policy year. This policy has a broad network of above 6000 hospitals, which can maintain cashless benefits.
- This plan covers for complete AYUSH action with no sub-limit.
- It provides free health complete checkup on four claim-free completing years.
ICICI Health Booster Great Top Up Policy
This policy is a super top-up policy that is much related to other plans of health insurance except for that comes by deductible value. These policies include higher health cover at a lower premium that is the best advantage. You have to accept the hospitalization costs with this policy that are similar to the deductible amount. Therefore, a super top-up plan is superior when you already a health insurance policy and want to boost the sum guaranteed but at a lesser price.
- Complimentary health test coupons are issued each year.
- Tax advantages can claim below Section 80D from other health insurance policies.
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Star Senior Citizen Red Carpet
This policy is useful for senior citizens. People over 60 years of age then all can get up to 75 years from this policy.
In this policy, the insurance will be a renewable lifetime. Moreover, the insurer should take different types of plans that are suitable for them.
These different types of health plans are useful for individual health plans, senior citizen health plans, family floater plans, top-up plans. It is appropriate for people through health conditions like cancer and heart disease.
Bajaj Silver Health
This plan can buy through any person who is between the ages of 46-70 years that can be renewed lifelong. It is offered for an individual policy only.
- It provides free health checkups at selected centers later than four successive policy years.
- Joint substitute surgical procedure recovered after four years.
- There is no sub-limit in the room rental fee and surgery prices.
Star Health Cardiac Care insurance
It is the best health policy in support of heart patients. People have undergone stenting or Bypass surgical procedure in 4 years before the plan to buy is suitable to buy this policy. Every other feature of this plan is related to additional health insurance plans.
- Cardiac illnesses covered in 24 hours.
- After purchasing this policy, pre-existing ailments linked to cardiac- covered concerns.
Now it is your turn to choose the best plans according to your needs to protect yourself from unexpectable health expenses.