Looking for the right health insurance can be a confusing and a tedious process. Since multiple insurance providers offer a variety of policies, picking the best plan becomes a challenge. You need to consider multiple options, including riders, coverage, exclusions, network hospitals, and more.
You may choose to either buy an individual health insurance policy or a family health insurance plan based on your requirement. Know in detail the offerings on health policies and how it benefits you to choose the best health insurance in India.
Why should I buy the best health insurance policy?
Purchasing the best health insurance policy in India is essential to safeguard your well-being and finances. It offers comprehensive coverage for medical expenses, including hospitalization, surgeries, medications, and diagnostic tests. With the best health insurance policy, you gain access to a wide network of hospitals and healthcare providers, ensuring timely and quality medical care. It provides financial security during emergencies, protects savings from healthcare costs, and offers peace of mind knowing that you and your loved ones are adequately covered against health-related uncertainties. Investing in the best health insurance policy is a prudent decision for securing your future health and financial stability.
List of best health insurance plans in India for 2024
Finding good insurance plans can get tricky with so many options available in the market. Visit Bajaj Finance Insurance Mall to get a quick view of the best health insurance plans in India, offered by leading insurers:
Best health insurance plans in India - 2024 | Entry age (Min-Max) | Description | Sum insured | Number of network hospitals |
Aditya Birla Group Activ Health Plan | 18 years and above |
| Up to Rs. 10 lakh | 10,000+ |
Niva Bupa Health Plus | 18-60 years |
| Up to Rs. 5 lakh | 8,500+ |
Bajaj Allianz Health Guard Insurance Plan
| Age (adults): 18-65 years
Age (dependent children): 91 days to 25 years |
| Up to Rs. 50 lakh | 7000+ |
ManipalCigna Pro-Health Group | Age (adults): 18-65 years
Age (dependent children): 91 days to 25 years |
| Up to Rs. 5 lakh | 6,500+ |
How to select the best health insurance policy to buy?
- Research different health insurance providers in India offering comprehensive coverage and compare their plans.
- Consider factors such as premium costs, coverage limits, network hospitals, and claim settlement ratio.
- Evaluate the waiting period for pre-existing conditions and maternity benefits.
- Look for additional benefits like OPD coverage, wellness programs, and coverage for alternative treatments.
- Read reviews and testimonials from existing customers to gauge customer satisfaction.
- Assess the financial stability and reputation of the insurance company.
- Consult with an insurance advisor or use online comparison tools for a more informed decision.
- Ensure the policy aligns with your healthcare needs and budget for the best health insurance in India.
Key benefits offered by the best health insurance plans in India
Look for the below benefits to choose the best health insurance in India:
Cashless hospitalisation :
Most health insurance plans offer cashless hospitalisation. Insurance companies tie up with several hospitals to create a network to offer quality cashless mediclaim policy. Get your treatment at any of the network hospitals without worrying about the availability of funds. Here, the insurers directly settle the claims with the hospitals.
Comprehensive coverage :
The best health insurance policy offers coverage for a range of healthcare expenses. This includes in-patient and pre- and post-hospitalisation expenses. Some insurance policies also provide coverage for daycare treatments, ambulance expenses, and domiciliary treatment.
Tax benefits :
Avail tax benefits under relevant sections of the Income Tax Act, 1961 for paying premiums towards the health insurance policy.
No Claim Bonus or cumulative bonus :
You gain a cumulative bonus for having claim-free policy years. You can benefit from this bonus by increasing your sum insured when renewing the health policy.
Daily allowance :
Many health insurance policies offer daily cash benefit. This helps you take care of the miscellaneous expenses when hospitalised. You may get up to Rs. 1,000 daily, depending on the health insurance chosen.
Critical illness coverage :
Critical illness cover offers coverage for treatments of life-threatening diseases. Health insurance policies also offer critical illness cover as an add-on benefit. Some also include it in their key benefits. You get coverage for cancer, stroke, heart diseases, kidney failure and more. Check the list of the critical illnesses covered under the health insurance policy when buying one.
Extra benefits :
Other common benefits offered by health insurance policies:
- Free annual health check-ups
- Online doctor consultations
- Consultations with nutritionists
- Discounts on lab tests
Check out the details of the best health insurance plans offered through Bajaj Finance:
Aditya Birla Group Activ Health Plan
This Aditya Birla health insurance policy provides coverage for treatment against chronic illnesses.
It comes in options with and without co-pay, providing sum insured of up to Rs. 10 lakh.
You can claim medical expenses incurred 30 days before hospitalisation and 60 days after hospitalisation.
Organ donor expenses, road ambulance, and room rent charges are a few other benefits covered under this plan.
Niva Bupa Health Plus Plan
This comprehensive healthcare plan provides coverage against hospitalisation expenses, offering sum insured of up to Rs. 5 lakh.
You can get coverage for pre- and post-hospitalisation expenses.
Domiciliary treatments and emergency ground ambulance are among the other benefits that the plan offers.
No medical underwriting is required for this plan.
Get coverage of up to the sum insured in case of organ transplant.
Bajaj Allianz Health Guard Insurance Plan
It takes care of the medical treatment expenses incurred during hospitalisation resulting from serious illness or accident.
The policy offers a daily cash benefit of Rs. 500 per day. This is capped at 10 days per policy year, to cover reasonable accommodation expenses for one parent or legal guardian. This benefit applies when staying with a minor insured person (under the age of 12), subject to the condition that the hospitalisation claim is approved under the inpatient hospitalisation treatment cover.
Medical expenses of pre-natal and post-natal hospitalisation per delivery.
Manipal Cigna Pro Health Group Plan
- This policy provides coverage for hospitalisation exceeding 24 hours, encompassing expenses such as room rent, ICU charges, nursing, doctor, and surgeon fees.
- The plan extends coverage to include oxygen, operation theatre costs, and other associated medical expenses.
- Covers treatments such as ayurveda, unani, sidha, homoeopathy. Also, yoga, and naturopathy.
- Domiciliary treatment, road ambulance cover, daycare treatment, and organ donor expenses are a few other benefits that you can claim with this plan.
Also, read: Parents health insurance
Things to consider before choosing the best health insurance plans in India
Tips to choose the best health insurance plan that covers all your medical needs:
• Coverage
You should make sure that the plan covers hospitalisation, surgeries, diagnostic tests, and pre- and post-hospitalisation expenses.
• Premiums
Check the premium of the plan and ensure that the amount is worth the coverage offered on the plan.
• Waiting period
Some health insurance plans have a waiting period before offering coverage for certain health conditions and treatments. Check the applicable waiting period in health insurance plan before choosing, so you can claim for the benefits hassle-free.
• Exclusions
Every health policy includes a set of exclusions that the insurer does not cover. Check the terms and conditions to know the list of exclusions in the policy. The common exclusions include treatments for drug abuse or addictions, or self-inflicted injuries.
• Claim settlement ratio
The claim settlement ratio defines the insurance company’s efficiency to settle the claims. A high claim settlement ratio in health insurance indicates a smooth and hassle-free claims process.
• Add-ons
Look for additional benefits you can get on the comprehensive health insurance policy. You get add-on covers like maternity cover, critical illness cover, hospital cash cover and more.
• Sum reinstatement benefit
Most health policies offer the benefit of restoring 100% of the sum insured if it gets exhausted during the policy term. This helps you to continue staying covered under the plan till the policy expires.
• Waiting Period for pre-existing disease
Check the waiting period mentioned in the plan in case of pre-existing disease coverage. Many policies have a waiting period during which pre-existing conditions are not covered. Opt for a policy with a shorter waiting period if you have pre-existing health issues.
• Maximum renewal age
You must choose a policy that offers coverage for as long as possible, ideally without an upper age limit.
• Check exclusions
All insurance policies have a set of things which are not covered under the policy. While going through the policy wording for a health insurance, you must go through the list of exclusions, to ensure none of your requirements are excluded from the policy.
• Cashless hospitalisation
Look for policies that offer cashless hospitalisation, as this can ease the financial burden during medical emergencies.
Also, know how to claim health insurance.
What is the income tax deduction on best medical insurance in India?
In India, individuals can claim income tax deductions under Section 80D of the Income Tax Act for premiums paid towards health insurance. The deduction limits vary based on the age of the insured and whether they are paying for themselves, their family, or their parents. Choosing the best health insurance plan in India involves considering coverage, network hospitals, claim settlement ratio, and customer service.
Top health insurance companies in India
Here are the top health insurance companies in India that offer comprehensive health coverage.
• Aditya Birla Health Insurance:
The company offers a diverse range of insurance policies catering to everyone's requirements. Aditya Birla Health Insurance offers a broad range of health insurance plans from individual to family floater, and super top-up plans. These plans offer features like multiple hospitalisation options, coverage for non-allopathic treatments, and flexible premium payment options.
• Bajaj Allianz General Insurance:
Bajaj Allianz General is a leading health insurance company known for its comprehensive coverage, unique features, and coherent approach to providing health care solutions. It introduces innovative policies such as Health Care Supreme, which covers alternative treatments and diagnostic testing, and the Health Guard Policy, covering critical illnesses and pre-existing conditions without a waiting period.
• Bajaj Finserv Health Insurance:
Combines affordability with quality to provide extensive health insurance policies. The plans include features like cashless treatment, lifelong renewal options, and coverage for alternative treatments, such as Ayurveda and Yoga.
• Care Health Insurance (previously Religare):
A top player in the health insurance market known for providing reasonable and comprehensive policies. You get individual health coverage, family floater health insurance policies, and coverages for pre-existing conditions, chronic illnesses, and hassle-free claim settlement procedures.
• DocOnline Health:
It is a new-age health insurance company that combines the benefits of online consultations with doctors and wellness programs along with traditional coverage. Ideal for people who need quick access to medical care, the company offers medical tests, personalised wellness programs, and online consultations with doctors and specialists.
• Niva Bupa Health Insurance:
It is one of the top health insurance providers in India, offering innovative health solutions to meet individuals' unique needs, including coverage for Ayurveda, homeopathy, and more traditional treatments.
• ManipalCigna Health Insurance:
A collaboration between the Manipal Group and Cigna, a global health service company, the firm offers comprehensive health insurance plans with features like cashless hospitalisation, lifetime renewals, and pre-existing disease coverage. ManipalCigna also offers various wellness programs designed to keep policyholders healthy.
You can buy some of the best health insurance plans offered by the above health insurance companies from Bajaj Finance Insurance Mall. You can choose from a range of health plans including comprehensive health insurance and small-ticket insurance plans as per your requirements and budget.
Read more: Health Insurance Plans for Family
How can I customise health insurance plans in India?
You can follow the steps below to customise your health insurance plan in India:
- Choose a reputable health insurance provider in India.
- Assess your healthcare needs and budget.
- Select a plan type, such as individual, family floater or senior citizen plan.
- Evaluate the coverage and benefits offered.
- Customise the policy by adding add-ons or riders for extra coverage.
- Consider the network of hospitals and healthcare providers covered by the policy.
- Review the policy documents and terms and conditions carefully before purchasing.
- Regularly review and update your health insurance plan to ensure it meets your changing needs and circumstances.