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Which Type of Health Insurance Policy is the Best - IIFL Insurance
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Which Type of Health Insurance Policy is the Best

Health is the utmost concern for all individuals. Several health insurance policies that insurance companies sell are quite beneficial for everyone. They also come under the head of mandatory investment as health problems spring up unannounced. But, the markets are flooded with multifarious policies of various insurance companies. Thus, it is an uphill task for customers to choose the best health insurance in India. While selecting the best health insurance plans, a person should evaluate certain factors, including benefits, riders, co-pay, sub-limits, network hospitals, and more.

It is a prerequisite to buying the best medical insurance policy as it gives financial assistance and inspires you to stand against the ever-rising medical expenditures during uncertainty. A health insurance policy also ensures that every insured person gets the best treatment for their illnesses without stretching their finances. Don’t be confused while purchasing the most suitable policy for your healthcare requirements and budget.

Choosing the best Health Insurance Policy       

An ideal health insurance policy will meet all your existing and future health needs. If your family is suffering from some ailments/conditions, you should pick up a plan that offers coverage for that disease even if you don’t have the disease now. Due to your family history, you will become more susceptible to that particular disease in the future.

Best Health Insurance Policies that are Ruling in the market

1. Aditya Birla Activ Assure Diamond Health Insurance

This plan is designed with the aim of protecting your loved ones during a healthcare emergency. Some features are,

  • The minimum entry age is 5 years and no maximum entry age
  • The range of sum insured is between Rs. 2 lakh to Rs. 2 Crore
  • The plan offers both domestic and international health assistance in the case of an emergency
  • The plan covers 586 daycare procedures
  • You will be eligible for a 10% cumulative bonus for not claiming the insurance
  • The sum insured can be reinstated up to a maximum of Rs. 50 lakh
  • The plan offers coverage for pre-and-post hospitalization expenses (30 and 60 days respectively), AYUSH treatment, organ donor expenses, daily allowance, vaccination cover, and annual health check-ups.

 

2. Bajaj Allianz Health guard plan

This plan is designed in such a way that it resonates with all your healthcare needs. Some features are,

  • There are two variants: silver plan and gold plan
  • The minimum entry age is 18 years, and the maximum age is 65 years
  • The plan offers coverage for pre-and-post hospitalization, daycare procedures, daily cash allowance, road ambulance, organ donor expenses, and sum insured reinstated
  • The gold plan also offers some added coverage, including maternity benefits, newborn cover, bariatric surgery cover, and many more.

 

3. Bharti AXA Smart Super Health Plan

This comprehensive policy offers significant coverage that is not only limited to expenses for hospitalization. Some features are,

  • The policy offers coverage for in-patient hospitalization, pre-and-post hospitalization, daycare procedures, daily cash allowance, road ambulance, organ donor expenses, and so on
  • The plan offers restoration of the sum insured up to 100%
  • The policy also offers maternity benefits and new-born baby cover
  • The policy offers lump-sum amounts for severe illnesses
  • The policy offers no claim bonus of up to 100% of the sum insured
  • The minimum entry age is 91 days, and the maximum age is 65 years.

 

4. Care Health care Plan

Care Health care plan could be the best option for you as it ensures the safety of policyholders as well as their family members against any medical emergency. Some features are,

  • The minimum entry age is 18 years, and the maximum age is 65 years
  • You will get a sum assured of up to Rs.75 lakh
  • If you opt for the sum assured amount of Rs. 50 lakh, Rs. 60 lakh, and Rs. 75 lakh, you will get an in-built maternity coverage of up to Rs. 1 lakh
  • You can opt for personal accident cover
  • For 5 consecutive claim-free years, your sum assured amount can increase 150%
  • For the floater plan, you can cover any of your family members (father, mother, spouse, children, or any friend)
  • You are eligible for cashless treatment at network hospitals (more than 10000 network hospitals)
  • This policy offers annual health check-ups for policyholders and their family members

 

5. HDFC ERGO Optima Restore Health insurance policy

HDFC ERGO Optima Restore Health insurance policy is a highly applauded health insurance plan that comes with exciting features like restore benefits and so on. Some features are,

  • Optima Restore plan is available in two forms (Optima Restore individual and Optima Restore family)
  • With this plan, you are eligible for health check-ups up to Rs. 5,000 at the time of renewals.
  • If you don’t make any claim in a year, you will get renewal incentives. 50% increase of your basic sum assured for every claim-free year.
  • You will be eligible for cashless treatment at network hospitals (10,000+ network hospitals)
  • With this health plan, you can get a daily allowance of Rs. 800 per day and a maximum of Rs. 6,000 per hospitalization.
  • You can easily upgrade your health plan to the next level at your convenience.
  • You are eligible for a discount of 10% if 2 or more family members are covered under Optima Restore’s individual sum insured plan.
  • No co-pay, sub-limits or additional loading on renewals
  • This plan offers lifelong renewability

These are popular health insurance plans that are available in the market.

 

How do you purchase the most Affordable Health Insurance?

  • Figure out where you live and when you need to buy: Your health insurance premium varies based on where you live. So, select a plan that meets your healthcare requirements in the city where you stay.
  • Review plan options: Always review your plan if you want to continue with your existing insurer. People, who already have a group plan, should opt for a personal health insurance plan, even if the existing policy covers the entire family members.
  • Pick the right health insurance policy: The markets are crammed with various health policies such as individual insurance, family floater plan, critical insurance, senior citizen plans. So, purchase a policy as per your need.  
  • Choose a top-up health insurance plan: If you think your sum insured amount is not adequate to cover your entire family, purchase a top-up plan instead of choosing a new plan with higher coverage amount.

 

While purchasing the best health policy, you must consider all the above parameters. Then, if required, you may consult with an expert who will guide you in your purchase process.

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