Health Insurance

Compare And Buy Best Health Insurance Plans Online In India

Compare And Buy Best Health Insurance Plans Online In India

The majority of people prefer to use a simple system for comparing products. For instance, say a star-based rating system. Whenever you shop for a gadget, home appliance, etc., you look at the 5-star scale. The higher the star rating, the better the product.

However, when it comes to health insurance policies, comparison cannot be made based on a single metric. Every health insurance policy is different. Some people may want a policy that covers alternate treatment expenses. Or some may want to cover their entire family under one policy. So, when comparing health insurance policies, various factors must be considered, such as coverage, exclusions, limitations, etc.

In this article, we will compare health insurance policies online based on as many factors as possible and also list the leading health insurance policies available.

Let’s start!
 

What Is Health Insurance?

Health insurance is a contract between you and the insurance company where the insurer agrees to cover expenses incurred for hospitalisation, treatments, surgeries, etc. in exchange for the premium you pay. Your insurer either pays for your hospital expenses directly or reimburses you, depending on the policy’s T&Cs, hospital you get admitted to, etc.
 

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Why Should You Compare Health Insurance Plans Online?

Since there are numerous options available online, it is important to compare health insurance policies. There are several reasons why you should compare health insurance policies. Here are some -

  • Ease Of Comparison

    Today, it is quite simple to compare insurance policies and purchase them online. You just need to open your web browser and type what you want. It takes only seconds to get all the information about various health insurance policies available on the current market. The details, prices, and benefits of each policy can easily be accessed via your phone, laptop, or other smart devices.

  • To Make Sure The Policy Is Worth It

    In order to obtain the benefits of your policy and keep it active, you must pay the stipulated amount on time. This amount is called a premium. It is important to make sure these premiums are worth every rupee since you will pay these from your hard-earned income. Choose a plan that is affordable and includes the features you want. Comparing policies online is the most effective way to find a policy that best suits your needs and budget.

  • To Get The Insurance Plan That Is Right For You

    There are a variety of health insurance plans offered by various insurers in today’s market. They all offer a wide variety of benefits and features. If you carefully compare these plans, you will be able to find the one that meets your needs and requirements the best. Say you need a plan that covers maternity expenses, then you should compare and see which policies cover such costs.

  • To Make Knowledgeable Decisions

    By comparing health insurance policies online, you can find both their advantages and disadvantages. Furthermore, you will find information regarding the waiting period, financial limits, and the claim process. The decision-making process is made easier when you are equipped with more information.
     

Some Important Factors To Check While Comparing Health Insurance Policies

These are some of the aspects you need to consider while comparing health insurance policies -

  • Cost

    A health insurance policy is designed to cover your hospitalisation expenses. And, you will have to pay regular premiums in exchange for continued coverage. Several factors determine your premiums, including your age, your medical history, family’s medical history, your lifestyle habits, etc. You should compare the premiums offered by different insurers and choose the one that's easy on your pocket.

  • Coverage

    Generally, health insurance policies cover inpatient hospitalisation, day care treatments, pre- and post-hospitalisation care, etc. However, coverage varies across insurers. Certain policies may provide comprehensive coverage, whereas others may not. It is therefore recommended that you compare the coverage offered by a variety of policies - so you can get all-around protection.

  • Add-Ons

    Adding riders to your policy will broaden the coverage of your policy. You can add these riders to your base policy by paying an additional premium. These are triggered under certain circumstances. For example, if you want to cover non-payable expenses such as oxygen masks, gloves, nebulization kits, etc. incurred during hospitalisation, you can go for a consumables cover. Depending on your requirements, you can select the add-ons that are right for you.

  • Sub-limits

    Insurance companies may set sub-limits to keep claims in check. Generally, if your core policy benefits or certain treatments and procedures have a sub-limit, you cannot claim more than that amount - even if your medical expenses fall within your sum insured. So, it is best to opt for a policy that does not have any sub-limits or has the least sub-limit - to maximise the benefit of your policy.

    For example, Aman purchases a health insurance policy with a sum insured of Rs. 5 lakhs. Under the policy, knee replacement surgery is subject to a sub-limit of up to 30% of the sum insured. Thus, the insurer will cover up to Rs 1,50,000 (30% of the sum insured) for knee replacement surgery. A few months later, he undergoes the knee replacement surgery that costs Rs 2,50,000. In this case, he will only receive Rs. 1,50,000 from the insurer. Aman is responsible for the remaining Rs 1,00,000.

  • Network hospitals

    A network hospital is a hospital that has a tie-up with the insurer to provide cashless treatment. If you are picking a health insurance plan, make sure that the insurer has a large number of network hospitals. It is important to ensure that your insurer has a tie-up with your preferred hospital located in your area. In this way, you'll be able to access healthcare at your desired hospital - without having to arrange funds or claim a reimbursement for the expenses.

  • Reviews

    When you read online reviews, you can see the insurer from the customer's point of view. By doing so, you will be able to gain a better understanding of how an insurer handles customer service. In addition, you can determine whether the company pays attention to its customers by addressing their issues. Once you have all these details, you are in a better position to decide whether or not to go ahead with that insurer.
     

Comparing And Buying The Best Health Insurance Plans In India

There is no ‘best’ health insurance plan as such - the best plan is the one that fits your unique needs. So, to find your ideal plan, all you need to do is conduct thorough research, compare the top policies and then zero in on the one that is suitable for your needs - while keeping your budget intact.

Here’s a comparison of some of the top health insurance plans available in the market today -

  Aditya Birla - Activ Fit (Preferred) Care Insurance - Care (Supreme) HDFC Ergo - Optima Secure Manipal Cigna - ProHealth Prime (Protect) Tata AIG - Medicare (Premier)
Room Rent Limit No limit No limit No limit No limit Single Private AC Room
Pre-hospitalization Expenses Expenses incurred prior hospitalisation covered up to sum insured for 90 days Expenses incurred prior hospitalisation covered up to sum insured for 60 days Expenses incurred prior hospitalisation covered up to sum insured for 60 days Expenses incurred prior hospitalisation covered up to sum insured for 60 days Expenses incurred prior hospitalisation covered up to sum insured for 60 days
Post-hospitalization Expenses Expenses incurred post hospitalisation covered up to sum insured for 180 days Expenses incurred post hospitalisation covered up to sum insured for 180 days Expenses incurred post hospitalisation covered up to sum insured for 180 days Expenses incurred post hospitalisation covered up to sum insured for 180 days Expenses incurred post hospitalisation covered up to sum insured for 90 days
Day Care Treatment Expenses All treatments are covered All treatments are covered All treatments are covered All treatments are covered 541 treatments are covered
Modern Treatment Expenses Expenses are covered up to sum insured Expenses are covered up to sum insured Expenses are covered up to sum insured Expenses are covered up to sum insured Expenses are covered up to sum insured
Organ Donor Expenses Harvesting expenses are covered up to sum Insured Harvesting expenses are covered up to sum Insured Inpatient expenses are covered up to Sum Insured Inpatient expenses are covered up to Sum Insured Harvesting expenses are covered up to Sum Insured
Domiciliary Treatment Expenses Expenses incurred for domiciliary treatments are covered up to sum insured Expenses incurred for domiciliary treatments are covered up to sum insured Expenses incurred for domiciliary treatments are covered up to sum insured Expenses incurred for domiciliary treatments are covered up to 10% of the sum insured Expenses incurred for domiciliary treatments are covered up to sum insured
PED Waiting Period 48 months 48 months 36 months 24 months 24 months
Specific disease Waiting Period 24 months 24 months 24 months 24 months 24 months
No Claim Bonus Bonus will increase by 10% in every claim free year, up to a maximum of 100% of sum insured Bonus will increase by 50% in every claim free year, up to a maximum of 100% of sum insured Bonus will increase by 50% in every claim free year, up to a maximum of 100% of sum insured Bonus will increase by 25% in every claim free year, up to a maximum of 200% of sum insured Bonus will increase by 50% in every claim free year, up to a maximum of 100% of sum insured
Super No Claim Bonus

Available

You get 50% increase every year, maximum up to 100% of the sum insured

Available

You get 100% increase every year, maximum up to 500% of the sum insured

Not Available

Available

You get 50% of increase every year, maximum up to 100% of the sum insured

Not Available

Refill/ reload of sum insured Available Available Available Available Available
Annual premium ₹ 22,046 ₹18,213 ₹ 25,828 ₹21,340 ₹24,029

Please Note: Premiums are taken on 10.01.2023 for a family of 3 - a 30-year-old male, 30-year-old female, and 1-year-old son and for a sum insured of 10 Lakhs. And, the premium is inclusive of taxes.
 

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Wrapping Up!

In general, there is no one-size-fits-all policy that will work for everyone. It is due to the fact that each individual has different needs. To choose the most appropriate health insurance, you must analyse its coverage, benefits, and exclusions. It is therefore recommended that you compare policies online in order to find the one that is right for you.