Medical emergencies can happen anytime, and they come without any warning. And the cost of such treatments can certainly burn a hole in your wallet. However, you can defend yourself against high-cost treatment if you have health insurance as your ally. While health insurance plans may vary according to your needs, ensure that major treatments that will otherwise cost a fortune are covered in your health insurance plan.
There are many different medical insurance plans offered in India, but it's important to choose the one that best meets your needs. Due to the large number of health insurance providers in India, it might be challenging to find the best health insurance plans. The right amount insured, affordability, financial assistance for rising medical costs, add-on features, a flexible claims process, and a dependable insurance provider are all important considerations when choosing the best health insurance policy.
What are the Best Health Insurance Plans in India?
Given the range of health insurance plans provided by different providers, finding the best health insurance plans can be very challenging. We aim to make it easy for you to get the best health insurance in India that matches the needs of individuals and families. Given below are some of the best plans-
Bajaj Allianz - Health Guard Individual
The features and benefits of the following health insurance plan are-
- Avail of cashless hospitalisation in any of the 3700 partner hospitals present all over the country.
- The policy can be taken as an individual or as a family floater policy.
- There are two variants available:
- Silver plan - Sum Insured up to ₹2 Lakhs
- Gold Plan - Sum Insured up to ₹50 Lakhs
- The Health Guard policy is renewable for life.
- Costs that occur 60 days before the hospitalisation or 90 days post-hospitalisation are covered.
- The emergency cost of the ambulance is compensated.
- 130 daycare treatments will be covered.
- The policyholder can get Convalescence Benefit of up to ₹5,000 in case of hospitalisation of more than 10 days
- Maternity costs and medical expenses for a newborn's care are covered by the Gold & Platinum Plan.
- In-patient hospitalisation costs up to Rs 20,000 incurred in a recognised Ayurvedic/homoeopathic hospital are covered under the policy's Gold & Platinum Plan if the admission period is more than 24 hours.
- The policy period can be 1 year/ 2 years, or 3 years.
Star Health Insurance - Medi Classic Insurance
Given below are listed the key features of Medi Classic Insurance-
- The insured will be covered for in-patient hospitalisation for at least 24 hours.
- You can enjoy wider coverage when you opt for a higher sum insured.
- With the super restoration option in the Gold variant, you can get a 100% restoration of the sum insured.
- All day care procedures are covered under Medi Classic Insurance
- Ambulance costs are covered for up to ₹750 per hospitalisation.
- Up to 2% of the Sum Insured, room and boarding supplies, and nursing costs by a nursing home or hospital are also covered.
- Non-allopathic treatments up to 25% of the insured amount are covered.
- Newborn and maternity care are covered under the Gold variant.
- Pay the premium for two years in advance, and get a special discount of 5%.
- Cost of a health check-up is covered once every four claim-free years.
ICICI Lombard - Personal Protect Insurance Policy
The features and benefits offered by the Personal Protect Insurance Policy are as follows-
- Amount assured ranges from ₹3 lakhs to ₹25 lakhs as coverage against accidental death or permanent total disability (PTD).
- No pre-policy health check-up is required.
- Personal Protect Insurance Policy offers cover against the insured’s accidental death
- This policy can be purchased online.
- A person between the ages of 18 and 60 years is eligible for a policy term of 1 to 5 years under the ICICI Personal Protect Insurance Policy.
- The individual will not be required to undergo a health examination in order to purchase this policy.
- The claim process is simple, requires minimum documentation, and the policy will provide global coverage.
- During the policy tenure, coverage will be provided in case of any claim made as a result of terrorism.
- The policy term can be 1, 3 or 5 years.
- Throughout their hospital stay, the insured person will get an Accidental Hospital Daily Allowance.
Best Family Floater Health Insurance Plans
A family floater policy allows multiple family members to be covered for a sum assured by making only one annual premium payment. The sum assured can be divided among family members in the event of multiple illnesses.
Oriental General Insurance- Happy Family Floater
Given below are the features of the Happy Family Floater Plan, one of the best health insurance plans for family-
- The Happy Family Floater comes in three variations- Gold, Silver and Diamond
- You can get coverage up to ₹20 lakhs.
- The maximum entry age is mostly 65 years, however, it can go up to 70 years too
- The policy period is one year, however, Happy Family Floater Plan comes with lifelong renewability
- Pre-existing diseases come with a 4-year waiting period
- Maternity expenses are covered
- Newborn baby cover is provided
- Available at an additional cost are Personal Accident Cover and the Life Hardship Survival Benefit
- The policy will offer a daily hospital cash benefit in the Gold type, up to a maximum of 10 days or 0.1% of the total assured
- Both variations provide coverage for ambulance services; the amounts are as follows: Silver: ₹1000, or 1% of the insured amount; Gold: ₹2000, or 1% of the insured amount.
ICICI Lombard - Complete Health Insurance
The Complete Health Insurance plan offered by ICICI Lombard offers the following features and benefits-
- The insurance covers costs associated with inpatient hospitalisation for 24 hours or longer, including medical costs, doctor's fees, room rent, etc
- According to this policy, pre-hospitalisation fees will be covered for up to 30 days, and post-hospitalisation will be covered for up to 60 days
- You will not need to undergo medical exams if you are under the age of 46 years also, there is no maximum entry age for this plan
- No co-payment is required
- Pre-existing diseases are covered after a 2-year waiting period
- Treatment of Covid-19 is also covered under the policy
- More than 6500 partner hospitals offer cashless services under this plan
- The sum insured is increased by 10% for every claim-free year, applicable for a maximum of up to 50%.
Bajaj Allianz - Family Health Guard
The features of the Family Health Guard, one of the health insurance plans for family are as follows-
- The pre-hospitalisation is covered for 60 days before the hospitalisation, and the post-hospitalisation is covered for up to 90 days
- The Recharge benefit helps you make a claim even when you exhaust the sum insured
- Homoeopathic as well as Ayurvedic treatments are covered
- On medical advice, coverage for bariatric surgery is provided
- All costs, including room charges, medicines, medical procedures, etc., will be paid at the time of admission for in-patient care
- Under the terms of the policy of Gold and Platinum plan, maternity costs and medical costs for the care of a newborn child are covered
- In case of emergency, ambulance costs are reimbursed up to ₹1000
- For the entire family, a continuous four-year medical checkup is offered.
Best Critical Illness Health Insurance Plans
Critical illness health insurance plans are designed to provide health coverage for pre-specified debilitating conditions that can be costly to treat and usually require a prolonged recovery period.
HDFC ERGO- Critical Illness Insurance
The features and benefits offered by the HDFC ERGO- Critical Illness Insurance are as follows-
- You will be covered for eight critical diseases:
- Heart attacks
- Kidney failure
- Major organ transplants
- Multiple sclerosis
- Coronary bypass
under the plan, and following the first diagnosis and successful completion of the 30-day waiting period, the complete expense will be paid in a lump sum.
- The coverage offered by this policy can be utilised for treatment costs, debt repayment, etc. and will serve as income replacement for any income loss as a result of the disease
- The insured amount is paid out as a lump sum
- The policy is available for purchase under 1 and 2 years tenure.
Star Health - CriticCare Insurance
The Star Health insurance offers the following features-
- This plan offers coverage for up to nine severe illnesses
- First diagnosis of cancer
- Heart attacks
- Chronic kidney failure
- Major organ transplant
- Brain tumour undergoing for the first time
- Irreversible quadriplegia
- Irreversible coma)
After a diagnosis, the complete cost is paid in one lump sum.
- The insurance includes pre and post-hospitalisation for a minimum of 24 hours
- Non-allopathic treatments are also covered by the plan within certain limits.
- The amount is paid out in lump sum on diagnosis
- The policy is available for lifelong renewal.
The choice of a single policy when it comes to health insurance is not an easy one. As you can see, there are myriad plans out there, all catering to specific needs. Hence, it is crucial that you know what your plans are, how much coverage you’re looking for and how much premium can you afford accordingly.
Frequently Asked Questions
1. What are the factors that define the best health insurance plan?
When choosing the best insurance plan to purchase, it is important to consider the sum insured, pre and post-hospitalisation expenses, ambulance charge, waiting period and add-ons.
2. What is the benefit of having the best health plan?
Having the best health plan helps you to pay for the huge medical bills in case of a medical emergency. Health plans assist you by covering hospitalisation bills, treatment costs, pre and post-hospitalisation expenses, etc.