COMPARE & BUY HEALTH INSURANCE PLANS

The term “health insurance” is a type of insurance that covers your medical expenses in case you are hospitalised. You can choose to cover yourself and/or your family. An annual premium is charged against the coverage amount chosen by you. It is a very useful financial instrument to protect yourself from the increasing medical expenses which can burn a hole in your savings.

With the world going digital, online purchase is the most transparent, convenient and cost-effective way to buy health insurance. The benefits of buying health insurance in India online are as follows -

• Abundance of choices
• Can compare health insurance plans premiums and features instantly
• Access to the best and cheapest health insurance in India
• Process is transparent
• Easy to do the transaction
• Secure and convenient way to buy
• Can compare medical insurance plans and buy at any hour of the day
• Simplified documentation process

In today's world, having a medical plan is crucial as the medical expenses are on the rise. It is advisable to compare health insurance plans when you think of insuring your healthcare expenses. Here are a key benefits to compare and buy medical insurance plans:

• To financially safeguard your family
• To cover the expenses occurring on healthcare
• To deal with medical inflation
• Stay secured from financial emergencies
• To avail tax exemption benefits
• Increase in lifestyle illness
• For better financial planning

A comprehensive mediclaim plan comes along with some key benefits. The benefits may vary on the basis of the insurer you choose. Here are some of the key benefits of the best health insurance in India:

• Hospitalisation benefit
• Pre and post hospitalisation benefits
• Cashless claim benefits
• Day care treatments are covered
• Expenses of Organ Transplant
• Free health check-up
• Tax benefits
• Domiciliary treatment are covered

Are you searching for the best health insurance in India? There are a lot of options available. You can compare health insurance plan premiums and features offered by various insurers and make a choice that best suits your requirements.

Annual Premiums of some of the cheapest health insurance plans in India. Premiums mentioned are for a 5 lakh cover for a 30 year old healthy male. Price alone should not be a factor in selecting your plan. You should look at the features and benefits that the plan offers.

Plan Name	Features
HDFC Ergo Optima Secure	Rs. 12,981
Niva Bupa ReAssure	Rs. 8,102
Aditya Birla Active Health Platinum Enhance	Rs. 7,337
Care Plus	Rs. 8,585
SBI Arogya Supreme	Rs. 7,059
Digit Insurance Arogya Sanjeevani	Rs. 3,439
Bajaj Allianz Individual Health Guard Gold	Rs. 10,501
TATA AIG Medicare	Rs. 7,934
Reliance Health Wise Standard	Rs. 8,716
Manipal Cigna ProHealth Protect	Rs. 7,315
Royal Sundaram Lifeline Supreme	Rs. 6,559
Liberty Insurance Elite	Rs. 8,471
Magma HDI One Health Support	Rs. 6,037
Chola MS Flexi Health	Rs. 5,676
Oriental Individual Mediclaim	Rs. 8,166
New India Assurance Mediclaim	Rs. 6,715
Raheja QBE Basic	Rs. 3,627
Star Health Comprehensive	Rs. 8,278
ICICI Lombard Health Shield	Rs. 8,789
Future Generali Health Total	Rs. 6,759
Edelweiss (Silver Family Plan of 1A and 1C)	Rs. 9,136
Iffco Tokio Individual MediShield Iffco Tokio Individual MediShield	Rs. 6,876
Navi General	Rs. 4,503
Kotak Mahindra Edge Health Insurance	Rs. 6,665
National Health Mediclaim Policy	Rs. 11,042

When you search for health insurance comparison in India, you will find numerous companies and their plans. Here are Key Features of some of the best health insurance in India:

Plan Name	Features
HDFC Ergo Optima Secure	2 X benefit from Day 1 Misc. expenses are covered Plus benefits every year, irrespective of any claims.
Niva Bupa ReAssure	Unlimited restoration Provides same person same cover in a policy tenure
Aditya Birla Active Health Platinum Enhance	Covers Chronic diseases from Day 1
Care Plus	Built-in PA cover 200% No Claim Bonus
SBI Arogya Supreme	Offers 8 additional cover Flexible benefit option of Co-payment
Digit Insurance Arogya Sanjeevani	Covers New Age treatments Digitised claim process
Bajaj Allianz Individual Health Guard Gold	Restoration benefit Covers Maternity expenses
TATA AIG Medicare	100% Restoration Benefit Covers 540+ daycare treatments Global cover
Reliance Health Wise Standard	No Sub-limit on room rent Covers critical illnesses
Manipal Cigna ProHealth Protect	Covers Non-medical expenses Free annual health checkup Unlimited Restoration benefit
Royal Sundaram Lifeline Supreme	100% Restoration benefit Free annual health check up irrespective of any claims
Liberty Insurance Elite	Loyalty perks Restoration of sum insured Offers second opinion expenses
Magma HDI One Health Support	Covers OPD expenses Offers additional benefits such as personal accidental, critical illnesses and more
Chola MS Flexi Health	Provides comprehensive cover Restoration of Sum Insured
Oriental Individual Mediclaim	Voluntary Co-payment Covers Donors expenses Covers Domiciliary treatment
New India Assurance Mediclaim	Covers expenses related to New Born Baby Expenses related to Organ donor is covered 139 Day care procedures are covered
Raheja QBE Basic	Covers non-medical expenses Provides Restoration benefit
Star Health Comprehensive	100% restoration for all illness No medical test required Cover maternity expenses
ICICI Lombard Health Shield	Unlimited Restore benefit Provides Maternity benefit
Future Generali Health Total	Restoration benefit for different claims Covers donor expenses upto SI
Edelweiss (Silver Family Plan of 1A and 1C)	Voluntary Co-payment option Provides AYUSH Benefits
Iffco Tokio Individual MediShield	Covers AYUSH treatments Offers critical illness cover as optional by paying an additional premium
Navi General	Unlimited online consultations Additional discount on renewal Automatic Restoration benefit
Kotak Mahindra Edge Health Insurance	Cover against critical illnesses Cover against death or disability due to accident Option to enhance the coverage
Universal Sompo Complete Health Care	100% Restoration benefit Provides OPD benefit Covers additional features such as critical illness, hospital daily cash and more
National Health Mediclaim Policy	Covers 140+ daycare treatments Cover 12 Modern day Treatments

A comprehensive mediclaim plan comes along with some key benefits. The benefits may vary on the basis of the insurer you choose. Here are some of the key benefits of the best health insurance in India:

• Individual health insurance
• Family Floater health insurance
• Senior Citizen health insurance
• Personal Accident insurance
• Critical Illness insurance
• Top-up health insurance
• Maternity health insurance

A comprehensive health plan covers most of your hospitalisation expenses along with expenses related to day care treatments. You can get the best health insurance plans in India by visiting MyInsuranceClub. Medical insurance covers the following expenses:

• Pre-Hospitalization expenses
• Post-Hospitalization expenses
• In-Patient expenses
• Ambulance expenses
• Expenses related to surgeries
• Expenses related to AYUSH treatment
• Domiciliary Treatment
• Day Care treatments

When you compare medical insurance plan features, you get to know that there are certain things that are not offered in a plan. The exclusions may vary on the basis of the insurer you choose. Here is a list of common exclusions in a mediclaim plan:

• Dental treatment
• Hospitalisation due to intoxicating drugs/alcohol
• Self-inflicted injuries
• AIDS
• Diagnostic charges
• Cosmetic procedures and more

There are 6 standalone health insurance companies in India. Each of these companies offer unique features and intend to fulfil the basic requirements of the Indian population. Here is a list of companies that offer the best health insurance in India:

• Aditya Birla Health

• Care Health

• Manipal Cigna

• Niva Bupa

• Reliance Health

• Star Health

If you are planning to buy a mediclaim policy, there are a few key factors that need to be considered:

• Type of plan you wish to buy: Individual or Family
• Cover amount
• Policy premiums
• Cappings on various expense heads
• Inclusions and Exclusions of the plan
• Waiting period for pre-existing conditions
• Availability of add-on covers
• Co-payment clause
• Network hospital of the insurance company
• Claim process and claim settlement ratio

If you are planning to buy a mediclaim policy, there are a few key factors that need to be considered:

• Type of plan you wish to buy: Individual or Family
• Cover amount
• Policy premiums
• Cappings on various expense heads
• Inclusions and Exclusions of the plan
• Waiting period for pre-existing conditions
• Availability of add-on covers
• Co-payment clause
• Network hospital of the insurance company
• Claim process and claim settlement ratio

Here are the top 10 checklist that you should certainly consider while buying a health policy:

• Pre & Post Hospitalisation period
• List of Network Hospital
• List of Day care procedures covered
• No Claim Bonus
• Check room rent cappings
• Waiting period for pre-existing condition
• Exclusions
• Deductibles/Co-payment
• Cover amount offered
• Option to enhance the sum insured

Health insurance riders are additional benefits that you can add to your health insurance plan. They help with making the plan more effective and offer more protection for some serious health situations. They can also help reduce your overall expenses. Riders help to extend the cover at a lower premium. You can add the following riders to your health insurance policy:

• Critical Illness
• Accident cover
• Maternity cover
• Room Rent Waiver
• Hospital Cash

The outbreak of Coronavirus (Covid-19) has devastated the healthcare industry. However, the health insurance policies now cover treatment expenses and hospitalisation expenses arising from Covid-19 disease.

There are specific health plans related to the Corona Virus itself. You can compare medical insurance policies that cover Coronavirus treatment.

The eligibility criteria may differ for different insurers. By conducting a health insurance comparison in India you will get detailed information about the plan. Let’s look at the eligibility criteria to buy a mediclaim policy from any insurer:

Parameter	Criteria
Entry Age	Family Floater - 16 days Individual - 18 years
Pre-existing health condition	Waiting period may differ from 2 year to 4 years

You can visit a IRDAI approved comparison site like MyInsuranceClub.com and share your requirement. The premiums and features of various plans will be displayed. In addition to that, you will also get assistance from Certified Advisors on any questions you may have in selecting the best and cheapest health insurance plan that will fulfil your needs.

Both are a type of plan that provides financial protection against health related expenses. However, there are differences between a health insurance and a mediclaim policy. You can compare medical insurance with the health insurance and get a more clear idea about both of them:

Health Insurance	Mediclaim
It is a comprehensive policy that covers pre & post hospitalisation expenses along with treatment expenses.	It covers only hospitalisation expenses
Add-on rider coverage is possible in a health insurance policy. Some of the important ones are critical illness rider, personal accidental, accidental disability, and more	It doesn't offer any riders in the policy
One can avail health insurance benefits, even if not hospitalised. You can claim for OPD, day care treatments as well.	It is necessary to be hospitalised in order to avail the mediclaim benefits

Premiums in a health insurance plan differ based on various factors. Few of the common factors that affect the health insurance premiums are:

• Gender
• Age of the insured person
• Type of plan chosen
• Cover amount
• Policy duration
• Smoker/Non-Smoker
• Habits and Lifestyle of the person
• Pre-existing conditions
• Add-on Riders if opted
• Medical history
• Residency zone
• Nature of profession
• BMI

In a health insurance policy, you can file a claim in two ways:

• Cashless Claim

  In order to make a cashless claim, you need to be hospitalised at a network hospital of the insurance company. Cashless claims can be planned or unplanned. Unplanned claims are usually at the time of hospitalisation due to an emergency. Your hospital bills will get directly settled by the insurance company. 

  • Know how to file for a planned cashless claim:

    • In case of a planned hospitalisation, you need to inform the insurance company by filling up a cashless claim form

    • The insurer will approve a certain amount based on the estimated expenses which will be incurred during the hospitalisation

    • Post that you will receive a confirmation letter

    • With this approval, you can avail treatment at the hospital and the insurer will directly settle the bills.

  • Know how to file for an unplanned cashless claim:

    • You have to inform the insurer within 24 hours of hospitalisation.The hospital then fills in all your details in the claim form and submits it to the insurer

    • Your claim will be paid by the company.

• Reimbursement Claim

  • Inform the insurer as soon as you are hospitalised

  • You will have to clear the hospital bills yourself

  • Then submit all your treatment documents, bills and discharge summary to the insurance company once you are discharged

  • The insurance company will review all your submitted documents

  • Once the documents sent by you are reviewed, the claim amount is credited to your account

Here is a list of all the necessary documents that are to be submitted for reimbursement of medical expenses:

• Completely filled claim form which is duly signed
• ID Proof
• Doctor prescriptions and recommendation for hospitalisation
• Hospital Bills
• Pharmacy Bills
• Original Hospital bill’s break up
• Original reports of x-rays, CT films, ECG, and other investigating reports

If you are looking to buy a health plan for yourself and your family members, you can compare health insurance plans at MyinsuranceClub.com. You can compare premiums and features of the best health insurance plans in India within a few minutes. You will be assisted by our trained and certified team members

Follow the below process to buy the best health insurance plan online from MyInsuranceClub:

Step 1 - Evaluate the amount of risk cover you require for yourself and your family

Step 2 - Visit our health insurance comparison page to get various health insurance comparisons in India

Step 3 - Fill in your personal details carefully

Step 4 - You get to compare medical insurance plans of different insurers which matches your requirement

Step 5 - Select a suitable plan which meets your needs and doesn’t burden your current income

Step 6 - After selecting, our trained relationship managers will contact you and guide you through the process of application and first premium payment.

Buying health insurance at an early age comes along with various benefits such as lower premium, no waiting period, accumulated bonus, and low rejection rate.

Health insurance provides an exclusive tax benefit on the premium amount paid by the policyholder. The insurance premium paid is tax-deductible under section 80D of the Income Tax Act

Waiting period is the time span during which the policyholder can’t make a claim, usually 30 days from the date of purchase of the policy. However, if the claims are related to hospitalisation due to an accident, then it will be considered. In case of pre-existing diseases, the waiting period may vary between 2-4 years.

Here are the documents required to buy a medical insurance policy online:

• Proposal form: which you can fill online
• Age Proof: Documents of birth certificate, passport, 10th or 12th mark sheet, Aadhar card, driving licence, pan card are considered as age proof.
• Identity proof: Documents of Aadhar card, voters card, passport, pan card and driving licence are considered as proof of identity.
• Medical reports in case of any pre-existing illnesses

Here are the documents required to buy a medical insurance policy online:

• What is the maximum number of claims allowed over a year?

  You get a free look period after you buy a health policy. The free look period is 15 days. During this period, you can cancel your policy and get a refund. If no claims have been made, you can cancel the health insurance policy anytime and get a partial refund depending on the time of cancellation - Know more here.

• If I want to cancel my health insurance policy after purchasing?

  You get a free look period after you buy a health policy. The free look period is 15 days. During this period, you can cancel your policy and get a refund. If no claims have been made, you can cancel the health insurance policy anytime and get a partial refund depending on the time of cancellation - Know more here

• Will I gain more benefits by buying health insurance at an early age?

  If you buy a health insurance policy at an early age, you are entitled to various benefits. The chances of any pre-existing illnesses are low, so your policy will get issued. You can then accumulate a No Claim Bonus and enjoy an increased cover amount. Also, the health insurance policies offer lifelong cover - so once accepted, the cover will continue for life as long as you keep renewing on time.

• Can I transfer my health insurance policy from one health insurance company to another?

  Yes, you can transfer your medical insurance policy from one health insurer to another. The process of transferring your policy is known as portability of policy. Once you have decided to change your existing plan, it is recommended that you compare health insurance plans from various providers and then initiate the process of porting your plan.

• Which family member can I cover?

  A family floater health insurance plan provides coverage to the policyholder, spouse, dependent children and parents. You can take a single cover for your entire family or select a dedicated cover amount for each family member.

• What is a network hospital in health insurance?

  Every health Insurer has tie-ups with several hospitals where the insured person can avail cashless treatment benefit. Such tie-up hospitals are known as Network Hospitals.

• Will I be allowed to buy more than one health insurance plan?

  Yes, definitely. You can have more than one health insurance plan. Very often, you end up with a corporate plan provided by your employer and your personal health insurance plan.

• Do I have to undergo any medical examination before buying any of the best health insurance plans?

  You may have to undergo a medical test before you buy a mediclaim policy if your age is above 45 years or if you have a health condition which the company would want to know more about. Medical tests are conducted to know if there are any pre-existing illnesses.