Health insurance plans cover your surgical and medical expenses incurred from unforeseen hospitalization, illness, or injury. Most plans offer cashless treatment, which means that you go to the authorized network hospital and your provider will clear the bill directly. However, there is generally reimbursement option too if you want to go to a hospital of your choice.
There are various benefits of purchasing a health insurance plan, such as cashless treatment option, post and pre-hospitalisation expense cover, ambulance fee, regular check-ups, and zero financial burdens in case of emergency expenses.
To buy the best health insurance that includes all the necessary benefits and add-ons, review the following deals.
Best Deals on Health Insurance Plans
1. Health Companion Individual – Max Bupa
- Covers the policyholder for medical expenses occurring from hospitalization and other such treatments.
- Hospital room rent is covered without capping of expenses.
- 30 days pre and 60 days post hospitalization medical charges are reimbursed.
- If you purchase a policy for 2 years, in the 2nd year, you can get a discount of 12.5%.
- You can get cashless treatment in 3,500 authorized network hospitals.
2. Activ Assure Diamond – Aditya Birla
- Covers for hospitalization, and sum insured can reach up to INR 2 crore.
- Covers 30 days pre and 60 days post hospitalization medical expenses.
- Provides other benefits such as domiciliary hospitalization, 586 day-care procedures, organ donor expenses, ambulance expenses, etc.
- Additional benefits such as health check-ups, national or international assistance in case of emergency, etc.
3. Lifeline Supreme – Royal Sundaram
- Covers hospitalization expenses, along with both 60 days pre and 90 days post hospitalization.
- Offers other benefits such as ambulance expenses, organ donor expenses, domiciliary hospitalization, regular health check-ups, etc.
- Maternity benefits and coverage for 2 babies or deliveries.
- Covers day-care expenses of 147 days.
- More than 3,000 network hospitals available for a cashless treatment.
4. Religare Care Health Insurance
- Covers hospitalization along with 30 days pre and 60 days post hospitalization expenses.
- No cap on important expenses such as doctor’s fees.
- Offers a trial period of 15 days and immediate cancellation.
- Additional benefits such as regular health check-ups, 170 day-care treatments, organ donor cover, etc.
- Cashless treatment available across 4,758 network hospitals.
Which Is The Best Health Insurance Plan For You?
With so many available options, selecting your perfect health insurance plan can be tricky. Follow this step-by-step guide to choose a comprehensive plan that covers all your requirements.
1. Compare on Coverfox.Com
Visit Coverfox.com and from the top left corner select Health Insurance under Insurance drop-down. Fill in the required details such as gender, pin code, the person you want to insure, etc. After this, many available health insurance plans will appear on the screen.
2. Check Benefits
Check out and compare the benefits offered by various plans such as ambulance fee, pre and post-hospitalization expenses, regular check-ups, No Claim Bonus benefits for claim-free years, etc.
3. Compare Premiums
Although some insurance plans may offer a lower premium, they may not offer full coverage. So, low premium is not always the best, but you can still go for a plan with cost-effective premium rates. Hence, once you have shortlisted a few policies based on benefits, check the premiums of these health insurance policies.
4. Read Exclusions
Exclusions section contains the real picture of your insurance, as this part of your policy will tell you how much your health policy will cover you in case of illness. Read this carefully and eliminate the plans that exclude factors important to you.
5. Consider Critical Illness Cover
Critical illness cover will cover the expenses of your critical illnesses as well. Although this cover may lead to a higher premium amount, it is beneficial to avoid unplanned financial burden in case of any critical illness.
6. Check the Claim Settlement Ratio
Claim settlement ratio is claims settled to claims received in one year. Check the claim settlement ratio to know if you can trust your insurance provider to clear your claim when the time comes.
7. Check Reviews
After shortlisting your plan, check the reviews of the provider. Previous customers will be able to tell you honestly about the services provided by the insurance company in case of emergency and need.
Health Insurance: Why It Is Important
A report by KPMG and FICCI says that only 27% of people in India have a health insurance policy cover. This statistics clearly means that most of the Indian population is not covered for financial burden arising from unknown illnesses. Everything including hospital bills, lab tests, medicines, pre-care, post care, etc., costs a lot of money. To secure yourself from medical expenses, a health insurance is a must!