Know About the Best Health Insurance Policy in India and Stay Safe
Nothing is heart-wrenching than finding your dear ones on the hospital beds. In such a crisis, what haunts the most is the hospital bill. It continuously increases until they give the final discharge. Undoubtedly, we cannot deny the importance of money, especially when you belong to a middle-class family. Why not plan before than to regret it later? Are you still curious? The health insurance policy is the best way to eliminate financial hindrances when you face health crises.
It may sound easy and effective when it comes to choosing the best health insurance policy in India. However, there are several underlying facts and figures, which one needs to consider before investing in any health insurance. Instead of getting confused, know your financial requirements, and invest in a suitable policy. In this write-up, you will know about the insurance plans and pro tips to invest.
Hospital expenses do not only confine to treatment costing. It also includes day-care expenses, critical illness hospitalization, pre & post-treatment expenses, coronavirus treatment, and many more. A single insurance plan cannot cover the entire illness expenses of your family. Every policy has different terms and conditions, along with different maturity terms. In other words, these policies often do not cover the treatment expenses of children.
A complete overview of the most popular health insurance policies in India
- Bajaj Allianz Health-Guard Family Floater Plan
This policy offers cashless treatment in around 6000+ network hospitals all over India (depending upon the T&C of the policy). The policy term can be of 1 year, 2 years, or 3 years. With the Bajaj Allianz Health-Guard policy, you can get a lifelong renewal option, wherein grandchildren and dependent children avail renewal age of up to 35 years. According to the Sec 80/D of Income Tax Act, 1961, avail tax benefits of up to INR 60000. Insured sum ranges between 1.5 to 2 lakhs and 3 to 50 lakhs in silver and gold plan, respectively.
Depending upon the policy amount you choose, the premium amount is payable monthly, quarterly, half-yearly, or yearly.
- Expenses covered
One can get reimbursement of up to INR 20,000 on ambulance per year on one policy. It also covers the treatment expenses of the entire day-care and ayurvedic and homeopathic hospitalization. Bajaj Allianz health guard also covers the maternity and delivery expenses and bariatric surgery expenses.
- Eligibility Criteria: The entry age to invest in this policy is between 18 and 65 years, while children include 3 months to 30 years.
- New India Assurance Senior Citizen Mediclaim Policy
As the name suggests, this policy is exclusively for senior citizens, who can reimburse hospital bills for different injuries or illnesses. The age limit of the senior citizens is 60 to 80 years, covering more than 3000 plus network hospitals. It even covers any treatment of Covid-19 of the insured person making it one of the best health insurance for senior citizens in India. You can get the policy of INR 1 lakh to INR 1.5 lakh, the premium payable @ monthly, quarterly, half-yearly, or yearly. The claim for different injury is different, for instance:
- Appendicectomy- Maximum charges inclusive of hospital bills are INR 16000
- Kidney stone or Lithotripsy- Maximum charges are INR 13000, and alike.
Expenses incurred for AYUSH corresponds to 25% of the total sum insured. However, one should approach the Government hospital or any government recognized hospital to claim the insurance. The claiming percentage for OT charges, blood, X-Ray dialysis, chemotherapy is 50% of the insured sum.
United India Insurance sponsors UNI Criticare Policy, covers several critical illness expenses. This plan covers a lump sum of the treatment of any critical illness of the insured person, claimed only once. One of the reasons why United India Policies are among the best health insurance policy in India is due to its major coverage of UNI criticare is on kidney failure, first heart attack, heart valve replacement, cancer of specific severity, coronary artery surgery, and many more. It includes:
- Diagnosis of 11 critical illnesses
- Entire life renewability option
- Insured range of wide sum
It does not include:
- the treatment expenses of the existing illness
- injuries arising out of war consequences or invasion
- the treatment of alcohol and drug addict
It offers flexibility in the insured sum selection, ranging from INR 1 lakh to 10 lakh, with a survival period of 30 days from the diagnosis date. Any person between 21 and 65 years can invest in the UNI criticare health policy.
- Bharti AXA Smart Super Health Plan
Everyone wants quality and authentic treatment from the recognized institute. But, what matters the most is financial stress to the affordability of hospital expenses. This new-age health insurance plan by Bharti AXA provides is consistently ranked one of the best mediclaim policy for family in India. With extensive medical coverage before, during, and after being hospitalized. With the investment in a smart super health plan by Bharti AXA, avail tax deduction benefit under Section 80D on Income Tax. The smart super policy includes:
- Wide coverage, ranging from INR 5 lakh to 1 crore
- Daycare treatment facility of up to the insured sum amount
- Annual health scrutiny
- Bonus for no-claim, up to 100% of the insured sum
- AYUSH treatment
- Treatment within 4500+ network hospitals
- Pre and post hospitalization expenses
- Lifetime renewable option
- Expenses for organ donor
The eligibility criterion to invest in this policy is 90 days to 65 years.
- Aditya Birla Active Assure Diamond Plan
Health insurance is a boon, especially when the medical cost increases at an alarming rate. If you are looking for the budget-friendly and best health insurance policy in India, Aditya Birla Active Assure Diamond Plan is the perfect option. Amidst the shooting medical cost, this policy plan by Aditya Birla is a worthy investment. The person eligible for this policy is between 5 years and above. The insured amount ranges between INR 2 lakh and 2 crores, covering almost 6000+ network hospitals. The benefits of this policy are:
- Irrespective of hospitalization for less than 24 hours, you get the coverage of 586 day-care procedures.
- Get 10% of the cumulative bonus if no amount is claimed.
- It offers an appealing health return, up to 30% on annual premium.
- It even covers domiciliary treatment (cost incurred for in-home treatment).
- Children insured under this policy get vaccination cover of approx. INR 1 crore.
- National Parivar Mediclaim Plus
Protect your dearest one with a smart health insurance investment. National Parivar Mediclaim Plus, by National Insurance, offers hospital cash benefits. The eligibility for getting insured is 18 to 65 years, and for children, it is 3 months to 25 years, covering 6000+ network hospitals. The policy offers coverage of up to INR 50 lakh. The policy term is for 1, 2, or 3 years. The policy covers,
- Hospitalization expenses incurred on the room, nursing, and boarding.
- Maternity expenses of up to INR 30000 and INR 50000 for normal and cesarean delivery, respectively.
- Whether it is Plan A, B, or C, anti-rabies coverage is up to INR 5000.
The claim process for National Parivar Mediclaim Plus Policy varies, and you need to check out the procedure to reduce reimbursement pressure.
Amidst the rising medical costing, it is vital to take healthcare insurance. Rather than crying during the loss, it is wise to invest in the best health insurance policy in India. Check the terms and conditions thoroughly before you pay the premium amount. Some policies have market risks; hence, read all related documents before approving. Most importantly, check the claiming process. Choose the one with the efficient and easy claiming process to have hassle-free reimbursements.