Best Health Insurance Plan

Best Health Insurance Plan in India 2022

Best Health Insurance Plan

A health insurance policy is a type of insurance that covers medical expenses for illnesses or injuries. The health insurance system helps you stay safe from various diseases. It covers the cost of hospitalization, daycare procedures, home medical care (after hospitalization), ambulance costs, health checkup, doctor consultation fees, etc. Additionally, under section 80D of Income Tax Act, it helps you to get tax benefits against your health insurance premium. It is an essential requirement no matter your age or gender.

IRDAI( Insurance Regulatory and Development Authority of India) an authority which protect the interest, regulate and promote the policy holder and maintain the insurance industry.

Difference between health insurance and medical insurance. Medical insurance generally covers the hospitalization and some specified ailments and accident. Health insurance gives you comprehensive coverage of pre-hospitalization and post-hospitalization including ambulance service.

Types of insurance:

In India there are mainly two types  of insurance

  • Indemnity Plan
  • Fixed Benefit Plan

Indemnity Plan has sub type such as

  1. Individual Insurance
  2. Group Medical Insurance
  3. Maternity Insurance
  4. Family Floater Insurance
  5. Senior Citizen Insurance

Under Individual Health Insurance policy the insured person get coverage of service basis or expense incurred basis. Basically it is a long term care policy.

Under Group Medical Insurance generally for predefined group of people like employees of a company, member of society or association it covers health and medical expense.

Under Maternity insurance the insured person get coverage cost of pregnancy, new born care, and child birth.

Under Family Floater Insurance all the family member get coverage under one umbrella. It extends the coverage of benefit for entire family. Generally, it covers spouse, children, and parents.

Senior Citizen Health Insurance for the age group above 60. Generally it offers pre health check facilities and cashless service  within the insurance company listed hospitals.

Fixed benefit Plan has subtype such as

  • Personal accident
  • Preventive insurance
  • Critical illness

Under Personal Accident benefit if any incident of sudden accident occur and you are unable to work or disabled. In such case this insurance offer coverage even any defined injury like bone fracture, eye sight loss or hearing problem.

Under Preventive Insurance insured person gets coverage of tests like blood pressure monitoring, cholesterol check-up, diabetes, cancer screening, HIV test, genetic testing, etc. It prevents serious diseases to become major.

Critical illness protect the insured person by paying lump sum following the diagnosis result. Critical illness like organ transplant, heart attack renal failure type illness.

Top Health Insurance Plans for Family and Features

Care Health Insurance:  

Care Health Insurance Company formerly known as Religare Health Insurance Company is a India-based insurance company established in July 2012 headquarter Gurgaon, Hariyana . Kedaara Capital is the co promoter of this company.

The company offer benefit like

  1. Day care treatment
  2. In patient care( ICU/Room/Nursing charge)
  3. Companion benefit ( lump sum amount arising for an accident)
  4. Pre and Post hospitalization medical expense
  5. Ambulance cover
  6. Recharge sum assured when the amount exhausted due to pay claim.
  7. Tax benefit under section 80D
  8. Cashless facility
  9. Policy term ( 1 to 3 years)

Documents Required for Claim Reimbursement

  1. Claim payment done online only
  2. Cancel cheque of the insured person
  3. PAN (if claim amount more than one lakh)
  4. Claim form need to be filled up
  5. Indoor case paper
  6. Payment receipt
  7. Discharge summary
  8. Consultation paper

Performance

Health Care Provider16500 + cashless
Claim settlement Ratio95.02%
Claim settled25 lakh+

HDFC ERGO Health Insurance

It is a joint venture company between HDFC, India’s eminent housing finance institution, and ERGO International AG, insurance entity of Munich Re Group.

3 types of health insurance plans offer by HDFC ERGO company

Indemnity health insurance:

Under this plan, they offer 4 types of plan –

  • Optima restore ( sum insured 5 lacs )
  • Optima secure ( sum insured 5- 50 lac)
  • My Health suraksha
  • My Health Koti suraksha ( sum insured 50 lac and 1 cr.

Fixed benefit health insurance:

To meet the endless medical bill this plan is very help full as it pay a lump sum to the insured person rather actual bill.

Top up health insurance:

If you have already an insurance and you want to extent the range wider then HDFC ERGO health insurance Top up plan strengthen your existing insurance.

Benefit offers by the company

  • Mental health care
  • Pre and post hospitalization
  • Home health care
  • Organ donor expense
  • Recovery benefit
  • AYUSH treatment benefit
  • Preventative health check-up benefit
  • Hospitalization expense

Documents Required for Claim Reimbursement

  • NEFT mandate
  • Duly completed claim form
  • ID proof
  • Prescription advising admission
  • Original bill with break up
  • Payment receipt
  • Discharge summary
  • Investigation report

Performance

Network10000 cash less hospital
Claim settled1 claim settled per minute
Strength of customer1.5 crore

Star Health & Allied Insurance Company Limited

It is a joint venture company between Star Health  and Allied Insurance company. The company headquartered situated in Chennai. The company started journey in the year 2006. The company started its IPO in December 2021.

Company offers various types of plan

Medi classic insurance policy:

  • For  individual
  • Aged  between 16 days to 65 years can be insured under this scheme.
  • Sum insured under this policy from 3 to 25 lakh

Family health optima insurance plan:

  • Policy for all the family can be insured.
  • Adult entry age 18 to 65 years,
  • dependent children 16 days to 25 years.
  • Sum assured under this scheme 3 to 25 lakh.

        Senior citizen red carpet health insurance policy:

  • Ideal  for senior citizen
  • Aged between 60 to 75 years get modern treatment with pre-existing diseases.
  • Sum assured for individual 1 to 25 lakh and for floater 10 t0 25 lakh.
  • Pre insurance medical screening is not required.

        Star cardiac care insurance policy:

  • Heart  need extra care and timely protection.
  • Any  individual aged between 7 to 70 yehttps://investoaxis.com/flipkart-axis-bank-credit-card/ar can opt for this insurance.
  • Sum insured under this scheme 5 to 15 lakh.
  • No pre acceptance medical screening required.

Star comprehensive insurance policy:

  • For all the family member
  • Entry age (adult) 18 to 65 years
  • Entry age (dependent children ) 91 days to 25 years
  • Sum insured 5 lakh to 100 lakh

Documents Required for Claim Reimbursement

  • Claim form duly completed
  • Discharge certificate, bills, receipts in original
  • Medicine bill in original
  • Receipt of investigation report in detail
  • NEFT details
  • Doctors prescription process of treatment
  • FIR copy in accident case

For cash less claim

  • ID  provided by insurance company
  • Pre admission investigation report
  • Doctors prescription

Performance

Lives covered since inception16.9 crore
Hospital NetworkMore than 11000
Claim amount paid since inception17211 cr
Claim settled since inception5.2 million

Read Also: | Flipkart Axis Bank Credit Card Apply Online.

Disclaimer
All the information are collected from internet source and are used for education purpose only. We are not recommending any products. Users must therefore analyze before exercise. InvestoAxis is not liable or responsible for any losses caused as a result of decisions based on information of the article.

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