Which is the best health insurance policy in India?

Health Insurance
Health Insurance

Health insurance


Health insurance is a contract between an insurance company and a customer. Under this, the company promises to pay all medical expenses incurred by the policyholder in case of any medical emergency. The insurance company will reimburse expenses or ensure that the policyholder is receiving cashless treatment for all illnesses or injuries covered under the policy provided the treatment is done at a hospital in the network.

In addition to the health cover, upon purchasing a health insurance plan, you will be liable to receive a tax benefit on the premium paid for your policy under Section 80D of the Income Tax Act, 1961.
To avail of a health insurance policy, the policyholder has to pay the premium regularly. If the policyholder needs any medical expenses from the beginning of the policy, the insurance company will be responsible to pay them according to the terms and conditions of the policy. It is important to note that some insurance companies have a waiting period within which no claim can be made for a specific time frame and this waiting period varies from insurer to insurer.
Health insurance also includes benefits provided by employers to their employees. However, the features and benefits of such policies will be limited. This is why it is always advisable to have a separate health insurance policy for complete protection.
"Health insurance is a contract to pay for health care, which avoids full payment on medical services at the time of being sick or injured."

 

Health Insurance Eligibility

There is no doubt in saying that a health insurance plan is an important thing that people should have. It is also advised that all should invest it at an early age as it has many benefits such as comprehensive cover, low exclusion, etc. With an effective health insurance plan, there will be no financial strains and you can avail the necessary treatment on time.
You can easily buy the best health insurance plan by comparing several plans online. You can go for an individual health plan or also choose a family floater. Here is the eligibility: -
Entry Age (Adults) - 18 to 65 years (Special plans are for 70 years and above)
Entry Age (Children) - 90 days to 18 years.
Renewal Efficiency - Lifetime renewal capacity (as per policy).

Importance of health insurance plans

Medical urgency can give financial distress to the average middle-class person. Keeping in mind the rising inflation, the treatment of basic diseases is also becoming inaccessible. Thankfully, we have reached an advanced level of technology and science where almost every disease can be cured. However, any surgery or remedy can empty the pocket. When we go through such an unexpected situation we often become alert.
There are many diseases like heart attack, stroke, cancer, kidney failures, etc. which need immediate attention. As soon as we or our close relatives are attacked by these deadly diseases, then it creates panic in our life. More than illness, it is the stress of health recovery that bothers us. All these can be managed if we have an appropriate health insurance plan. In its absence, we can certainly invite many other additional psychological illnesses.
A health insurance policy, commonly known as Mediclaim in India, comes to cover your expenses to a great extent and helps you maintain peace of mind. Health insurance plans will be there for financial assistance in case of a medical emergency. It will provide the necessary financial assistance through which you will be able to pay for all medical bills.
The benefit of cashless treatment makes it more profitable because you can focus on the treatment completely without worrying about medical bills. A health insurance policy will allow you to get treatment at top hospitals in India and the best thing is that the insurance company will take care of all medical bills.
At PolicyX.com, which is an IRDA approved website, you can easily compare and within minutes select the best policy to take care of your health needs and expenses.

How to choose the best health insurance policy in India?

The best way to protect yourself against huge medical expenses is to buy a good health insurance policy. Not only can we cover the risk of any critical illness but we can also purchase a customized policy as per our requirements. You have to pay more for good treatment. If a disease is not cured on time due to a lack of money, it can take the form of critical illness.
The level of coverage depends mostly on the type of health insurance policy. Many companies now provide health insurance in India and therefore as a consumer, you have many options from leading brands.
You should take advantage of our comparison services to choose the best health insurance policy. Some of the brands offering health plans are MaxBupa, Bharti-AXA, Tata AIG, Apollo Munich, Star Health, etc. PolicyX.com helps you to compare and choose the best health insurance plan for you.
You have to compare the health insurance plans offered by the top insurance company on our website. With the basic information you fill in on our website, we will search for the most suitable health plans for you and provide relevant quotes that make the whole process of buying a health plan easy for you.
With the free quotes available, it will be easy for you to compare plans based on features, cost, riders, exclusions, and benefits.

Different forms of health insurance

People have their own choices and needs and to meet them, insurance companies are offering many forms of health insurance. It is important to invest in a health insurance plan, but it is also important to go for the proper cover that can easily meet your needs.
So to choose the right one, you must first learn how many types of insurance you can find. The following are the major types of health insurance policies available in India.

1. Individual Health Insurance

Individual Health Insurance is one of the basic health insurance plans that every person must have individual health insurance. Although it covers a person, there is always flexibility in availing of the insurance money. Family members can also be selected easily but we need to pay a different amount. The premium we pay annually depends on the sum of the sum assured.

2. Family Floater Health Insurance

Family Health Insurance Family Health Insurance is best suited for anyone wishing to cover more than one family member. All family members can enjoy the benefit of the entire sum insured. This is a rare condition when 2 members of a family fall ill together. Consequently, the entire sum insured of the policy can be used by one member. The premium paid for such plans is much lower than other plans. Members who can be easily covered are your spouse, children who are dependents and parents.

3. Critical Illness Plan

Critical Illness Plan In this, the policyholder will be liable to receive a fixed benefit payment in case of any critical illness specified under the policy. With a lump-sum benefit, you will be able to pay hospitalization costs.

4. Senior Citizen Health Insurance

Senior Citizen Health Plan The Senior Citizen Plan is specifically designed for people of old age, especially those above 60 years of age. This policy is very good for fighting against medical contingencies during old age. According to IRDAI rules, each insurance company must include people above 65 years of age.

5. Maternity Health Insurance

Maternity Health Insurance Nowadays, almost every health insurance company covers pre and postnatal care, childbirth and sometimes even vaccination expenses for newborns. In short, it covers all your maternity expenses. However, the features and exclusions may vary from insurer to insurer.

6. Unit Linked Health Plan (ULHP)

Unit Linked Health Plan Health insurance companies have recently introduced ULHPs. It is basically a combination of health insurance and investment. With health protection, ULHP will help you to create a capital that can be used by the policyholder to meet the expenses not covered under the health insurance plans. Naturally, the returns depend on the market conditions at that time. But these policies are still in the development stage and are recommended for those who can handle products such as unit-linked insurance plans (ULIPs) and unit-linked pension schemes (ULPP).

Key benefits and features of health insurance policy

We are all aware of the fact that health care costs are increasing day by day and our earnings are not able to cope with any major medical emergency. In the practice of the healthcare industry, it becomes important to have a proper health insurance policy that enables you to deal with such harsh medical emergencies that can easily empty one's pocket.
A comprehensive health insurance policy is what we need. With the understanding of the following features, it will become easier for you to purchase an effective health insurance policy.

● cashless treatment

India is moving in the direction of Digital-India and you can see such changes in the healthcare industry as well. Nowadays, people do not like to carry cash. In case of hospitalization, if you have a health insurance policy with the cashless facility, then you do not have to worry about paying medical bills as the insurance company will pay on your behalf and pay full attention to the treatment. Can be This will be of great help in case of hospitalization on your treatment as you do not need to arrange funds during a medical emergency.

● No Claim Bonus (NCB)

The no-claim bonus or NCB refers to the amount you will receive from the insurer for each claimless year. This leads to many policyholders not to file any small medical claims. You should keep in mind that NCB comes as a waiver on the premium payable at the time of policy renewal or whenever you increase the sum assured. At the time of renewal, you will need to check if you are not receiving a no-claim bonus.

● Family / Loyalty Discount

This is an exemption that you will get if you include a family member or any person in the health insurance policy. It is a form of reward that the insurance company pays on referring people to the current policyholder.

● Day-to-day customer support

There is no doubt that some people find the concept of insurance policy difficult. To provide them with more ease and solve their queries, all health insurance companies provide 24/7 customer service.

● Sum Assured Restoration

It is a matter of concern for many that if someone in their family is seriously ill, then their existing health insurance policy will end. To provide them ease and optimum utilization of their sum insured, insurance companies offer insurance sum restitution benefits. The benefit of the Sum Assured Restoration is that once the Sum Assured is fully utilized, the insurance company will automatically restore the amount, for which you do not have to pay any additional cost for it. Generally, health insurance plans with restitution benefits are expensive as compared to general health insurance policies.

● Online application and renewal facilities

As discussed above, India is going digital and hence insurance companies are also offering digital services. These days insurance companies have an online presence. All of them have websites that are updated regularly to sell policies to new customers and to introduce new insurance products and to keep in touch with their customers. With such great services, the customer can go to his home comfortably within a few seconds to buy a new plan and also renew the existing one.

● free health check-up

To motivate all individuals towards a healthy life, insurance companies sometimes offer free medical check-ups. Depending on the company and the type of policy you hold, you may be eligible for a Master Health check-up.

● Lifetime renewal

Whenever you are planning to buy a health insurance plan then you should always look for this facility. It is important for you to go for a policy that provides long-term protection, especially during old age. This is why most health insurance plans come with lifetime renewal facilities. To keep your policy active, you must renew it at the end of each policy term.

● Co-payment / deduction

While purchasing a health insurance plan, you will see the option of co-payment. At the time of claim, if the policyholder has opted for co-payment, he will pay a pre-agreed percentage of the claim amount and the insurance company will take care of the remaining claim. The sum assured under your insurance policy will not be affected by co-payment.

● Tax Benefit

There is no doubt, this is a plus point of investing in a health insurance plan. On buying any insurance policy, you will be responsible for receiving tax benefits and the same thing will happen here with the health insurance policy. With the Health Insurance Policy, you will get a tax benefit for the premium under Section 80D of the Income Tax Act, 1961.

portability

Generally, we change our insurance provider and switch to a new company which is offering better plans and benefits. Under this, the policyholder will be allowed to switch from one insurer to another. The plus point is that you do not have to compromise with the waiting period or any other features and benefits you can get with the insurer.

What should be the health insurance cover?

As mentioned above, the cost of medical depends on the sum assured, the policyholder's age, current health status, and past medical history. A higher sum insured depends on a higher premium. Factors to consider in this regard include an individual's health status, age, lifestyle, family illness history, and of course strength. Remember that most medical plans extend "additional benefits" such as ambulance fees, daily allowances and other expenses for hospitalization. You can find them.

● Health insurance by the company

Many companies provide medical for their employees. It also often includes hospitalization expenses of spouses, dependent children, and parents. It is advisable to take medical regardless of the amount covered because you do not have to pay any premium for it. Now, whether you need to take another health insurance policy will depend on some factors. Is the cover provided by your employer sufficient? Is the insurance company good enough? What will happen when you change jobs?
Mediclaim employees are provided as incentives. Therefore it is important that you understand the insurance policy details and also check the coverage. Ask your Human Resources (HR) department for details; What is covered and what is not. In many cases, employees are satisfied with the fact that their company is providing health insurance, but it is later found that many things are not included at all or are just parts.

● Health insurance for senior citizens

About a decade ago, mediclaim companies were unwilling to increase cover to elderly and senior citizens. Late, however, many insurers are providing health insurance policies for them. A person 65 years or older may get an additional tax relief of up to Rs 20,000 from insurance cover payment. But remember that the premium payable for senior citizens is very high. If you are employed and receive medical cover from your employers, contact your HR manager and negotiate with the insurance company to provide additional cover for your parents. The insurer can provide cover at an attractive premium.

● Tax exemption

Healthcare insurance is included in section 80D of income tax laws. You can get a rebate of up to Rs 15,000 for premium payments for yourself, spouse and dependent children, and up to Rs 15,000 for parents (Rs 20,000 if parents are over 60 years of age). So, if you pay your parents' medical insurance premium, you can save Rs 35,000 in taxes.

Health Insurance Claim Settlement Procedure

Most people, although aware of how TPAs ​​work, do not know how health insurance claims are settled. Once the mediclaim policy is sold, the TPA reimburses the insurance company. For the settlement of claims, the policyholder should contact the TPA for all the verification and formalities. TPA settles claims in two ways.
● cashless
You can avail cashless treatment facilities only in the networked hospitals of the insurance company. In the case of hospitalization or in case of an emergency, the TPA should be informed first within the specified time frame. The hospital's insurance desk helps with all the paperwork. The TPA has to approve the mediclaim amount and the hospital will settle it with the insurer. TPA will not be paid if there is a possibility of exclusion. Such expenses are decided by the inpatient party directly at the hospital cash counter.
Reimbursement
The insurer can avail of the reimbursement facility in networked and non-networked hospitals. Here, you can avail of treatment facilities and settle the bill directly with the hospital. You can then claim reimbursement of expenses incurred from the TPA by submitting the relevant bills and receipts.

Why should you buy a health insurance plan?

Enough is enough but it is not true and you will only realize when health is going through an emergency. Now, investing in a comprehensive health insurance plan has become important. This is very important because the health coverage provided by your employer will not be sufficient to meet all health care needs. Most Indians think that the insurance policy provided by their employee to meet medical emergency expenses
Most employers are providing basic health insurance plans that will not be sufficient to meet your needs. For example, a basic health insurance plan will not provide cover against critical illnesses.
It is always advisable to go for a plan that not only covers your hospitalization expenses but is also helpful in dealing with day-care procedures, OPD fees, consulting fees, and other such expenses. If you are not aware of the fact that a person who is not seriously ill or in hospital can still avail of the insurance plan for your general medical visit.
An effective health insurance plan is important because the cost of medical treatment is increasing day by day and the savings of the common person will not be sufficient to deal with a large medical emergency. Apart from the above features, if you are looking for any tax saving option then investment in a health insurance plan is required. Under Section 80D of the Income Tax laws, you will get good tax benefits by investing in health insurance plans which will help you save more.
Things to keep in mind when buying health insurance plans online
The best health insurance for you is something that can go well with your needs. There are some things that you should keep in mind while buying a health insurance plan
● Understand your policy
Understand your Policy Before making any final decision, it is important for you to understand what it will cover and what it will not do. Check what exactly it offers. Look for all coverage options against pre-existing illness, accident-related expenses, day-care procedures, and maternity expenses. Then, go for a policy that is sufficient for you and your family.
● check exclusion
Check Exclusions Generally people look for features and benefits, they forget that exclusions play a very important role as it helps you get a clear image where your insurance policy will not support you. You can easily look at your policy documents as well. But people usually avoid reading it, but you should read it well. The exclusion varies from insurer to insurer and plans to plan. Some popular exclusions are:
Dental Services
Pregnancy
Cosmetic surgery
Injury caused by war, terrorism, inducement, protest, or strike
Joint replacement surgery
Homeopathy
Ayurveda
Injuries occur under the influence of any drug/alcohol
● Think of co-payment
Think About Co-Pay While you are looking for a health insurance plan, you will often get the option of co-payment. You have to decide whether you need it or not. For this, you must first understand what is co-payment? At the time of filing the claim, if you have opted for co-payment then you have to pay the pre-agreed percentage of the claim and the insurer will take care of the balance.
You should keep in mind that the sum assured under the plan will not be affected by the co-payment amount. Therefore, before making a final decision it ensures that you need a co-insurance policy or not.
● Premium Payment Frequency
Premium payment frequency It is true that all insurance policies come with a renewal date. You must renew your policy regularly to keep it active. You will get the option to pay monthly/quarterly/half-yearly/yearly premiums. However, before making a final decision, check that you will be able to pay the premium and renew the policy on time.
● Claim Settlement Ratio
Claim Settlement Ratio This is the most important thing you should see. If you check the report online, you will find that the claim settlement ratio of many insurance companies has increased over the years.
This is an important point because it shows the ratio of decided and canceled claims. With this ratio, you will be clear in choosing the right insurance company for your health plan. Make sure you are going for a high claim settlement ratio.


● portability options

Portability Option It is common that sometimes we are not happy with the current insurer and want to switch to another insurance company. In such cases, you can avail of the portability option. Under this, the policyholder will be allowed to switch to the insurer and best of all, it does not have to compromise the waiting period or other facilities and benefits available with the existing insurer.
● Lifetime renewal
Lifelong Renewability It is common that people seek a plan that provides long-term protection, especially when it comes to old age. This is why health insurance companies begin offering lifetime renewal options.

● No Claim Bonus (NCB)

No-claim bonus (NCB) is not a percentage of the rebate on the completion of every claimless year to the NCB or no claim bonus policyholder. This motivates people not to make small claims. Insurance companies offer this as a discount on the premium or the policyholder can choose to increase the sum assured at the time of renewal. At the time of purchasing the policy, look for the no-claim bonus option and the percentage offered by the company.

● Restoration Options

Restoration Option In most cases, a family floater cover fears that the entire assurance amount available under the scheme will be exhausted if a person is seriously ill. In order to offer optimum utilization of insurance amounts, insurance companies these days offer insurance amount restoration benefits. Under a plan with the reinstatement option, once the sum insured is fully utilized, it is automatically restored without paying additional costs. Health insurance plans with restoration benefits are more expensive than regular health insurance policies.

How to choose the right health insurance company?

In the last few years, India's health insurance industry has seen a lot of growth. Now customers have many options to explore for health insurance companies. With this large number of health insurance companies in India, it becomes difficult to choose the best insurance company according to your needs. There are a few things to keep in mind when choosing an insurance company. Listed below are some of them that may help you:

Reputation

The company's reputation plays an important role. It is advisable to go to a company that has a good brand image. People's advice and research will help you choose the right health insurance provider.

● financial stability

It is important for you to understand that research is important before things are finalized. You have to check the financial fortitude of the company and you can do this with the help of Credit Rating Information Services of India Limited (CRISIL) rating. Go for a company with an AAA rating because it is considered the highest financial strength to fulfill its obligations.
● Product Portfolio
Do not forget that insurance is a huge industry and changes all the time. It does not stay the same as your needs all the time. This is why it is important to go for a company that offers a wide range of ancillary insurance policies to meet the needs of all types of customers.

● The easy claim settlement process

You buy an insurance policy for your future emergency and there is no doubt that you expect a timely claim. Filing a claim can be a difficult task. It is true that no one wants to go through a lengthy claim process which involves the submission of papers with supporting documents and a long wait for the approval. It would be worse if the company rejected your claim. Therefore, it is advisable to look for an insurance company that follows a simple and easy claim settlement procedure.

● Customer service

Buying insurance is like building a new relationship and thus you always need someone who can help you through difficult times and help you to solve your queries. For this, you will need to periodically contact your insurer's customer service center. Therefore, it is also important to pay attention to the quality of customer service of your insurance company. Choose a company that provides online chat, email support, or phone support.

● Insurance Advisor

Insurance is difficult to understand by a common person. But now many insurance companies start appointing insurance advisor to every consumer so that they can get ease. Insurance advisors will help you choose the appropriate insurance plan according to your needs. When it comes to claims-related questions, they can provide quick assistance. There will be 24/7 customer support with a toll-free helpline number to resolve customer queries.

● Customer feedback and review

On the most important and common aspect. Before buying anything, you should check the customer ratings and feedback of the insurance company. For this, you can take the help of the IRDAI website to check the number of complaints and resolutions against the insurance company.

Documents required for Mediclaim Insurance Policy

  • If you have decided to buy Mediclaim Insurance online, there are some documents that you need to provide such as:
  • Age proof - Any date of birth, 10th or 12th mark sheet, driving license, passport, voter ID, etc.
  • Identity proof - driving license, passport, voter ID, PAN card, Aadhaar card, which proves citizenship
  • Address proof - the Electricity bill, telephone bill, ration card, driving license, passport, must clearly mention the permanent address.
  • Some plans typically require medical check-ups for elderly people above 45 years of age to ensure that the insured is not suffering from a chronic illness.
  • Passport size photo to keep a record of the identity of the insured person for future references.
  • Buy health insurance online in a few easy steps
    If you have decided to buy health insurance online, there are some documents that you need to provide such as:
  • Easy to buy without a pile of paperwork, hassle-free shopping
  • The purchase takes less than 10 minutes to complete.
  • To find the best insurance plan for you, just enter the details of basic requirements according to need and preference.
  • Compare the plans of different companies in less than 30 seconds and make a wise decision for your insurance investment.
  • Choose a plan that meets your insurance criteria and is insured within minutes.
  • Completed online proposal form in 5 minutes, asking you for your original details for further reference.

  • Upload your documents and pay towards the plan you want to choose.

Health Insurance vs Mediclaim Policy

People who do not know much about health insurance are often confused between health insurance and mediclaim. Basically a mediclaim policy provides coverage for hospitalization expenses for a certain pre-specified illness for a certain period of time according to the insurance policyholder. Under the Mediclaim policy, the maximum limit for all claims is fixed at a fixed amount.
It works on the principle of indemnification in which a hospital has a specific requirement to think about any claim. Even those who are policyholders under the Mediclaim policy have to pay hospitalization expenses out of their pocket and the insurer will pay them later. Under a health insurance policy, policyholders will get comprehensive coverage that covers all pre and post-hospital charges.
The policyholder can also get coverage on ambulance charges, compensation for income, etc., but it all depends on the riders associated with the health insurance policy. The upper limit of the health insurance policy can go up to 60 lakh rupees. Generally, healthcare policies offer discounts on a regular basis at certain times.
There is also a difference between a health insurance policy and a medical based on the tax deduction. A health insurance premium paid for a health insurance policy provides tax exemption under section 80D of Income Tax Act, money paid for mediclaim premium paid for self or spouse or children Rs 15,000 under section 80D Are suitable for tax exemption.

Some Important Health Insurance Conditions

Here are some important conditions that you will come across when subscribing to a health insurance policy.

● Sum Insured

In simple terms, the Sum Assured is the maximum coverage amount in the policy year. Consider the increasing cost of hospitalization, medicines, and treatment before deciding on your insurance amount. It is advisable to select a higher cover. Also, the payment of premium should not empty your pocket, such a cover should be sufficient.

● Co-pays and sub-limits

Some health insurance companies have introduced a co-pay and sub-limit system to prevent hospitals from renting rooms without reason. In a co-payment policy, you have to pay a portion of the expenses irrespective of the sum insured. For example, if the policy has 10% co-pay, the insurance company will pay 90% of the expenses and you have to bear the rest.
In addition, some insurers limit treatment expenses to reduce hospital claims. This is known as a sub-limit. While buying Mediclaim, choose a policy that has low sub-limits. There is no co-pay or sub-limit in some Mediclaim policies. Try to choose such a scheme.

● Comprehensive cover

Some employers provide health insurance to their employees under the group insurance plan. But you can make your own medical policy which covers the whole family. Therefore it is important that you compare several policies before purchasing a policy.

● Critical Illness

Comprehensive Mediclaim policies cover most of the critical illnesses. You do not have to buy another policy. It is advisable to subscribe to a comprehensive plan and then include an accident insurance plan which does not cost much. In most cases, these two policies are sufficient to meet your medical needs.
If you have a family history of a disease such as a thyroid or blood sugar, then you should ideally buy a separate Critical Illness Mediclaim. If your family does not have a medical history, there is no need for a critical illness plan.

● Re-store benefits

The Restoration Benefit feature allows you to repurchase your original insurance amount if you have already exhausted the assured amount within your policy year. But in most cases, the benefit is not available on the same disease if the limit is already used.
But a reinstatement benefit can be useful if you have subscribed to a family floater plan. Where the full sum insured can only be exhausted for the treatment of a family member. In the case of hospitalization in the remaining policy year, the remaining members will not have any cover on treatment.
The rest of the members may, in such a case, be covered for other diseases, for which the expenses have already been paid by the insurance company.

● No Claim Bonus (NCB)

If no claim has been made in the previous year, the insurers generally provide a 'no claim bonus' to the policyholder. While buying Mediclaim, check the NCB amount before signing the farm. The NCB amount can range from 5% to 100% for the policyholder. A high NCB gives cover against medical inflation and you do not have to worry about increasing your coverage from year to year.

● Pre-existing illness, waiting period (waiting period)

While subscribing to medical policy, you may have a pre-existent illness. Most health insurance companies specify a waiting period for these diseases. If you have a pre-existing disease, the insurance company is unlikely to provide cover against the disease. In most cases, a pre-exhaustion policy is covered at least two years after purchase.

● Exclusion

Here simply means those diseases which are not covered under Mediclaim. For example, if you are suffering from diabetes while taking a policy, then kidney diseases due to diabetes can be excluded from cover. Never hide any pre-existing diseases from your insurer while purchasing a mediclaim policy. This can reduce your hospital claims.

● free check-up

Most health insurers provide a free health checkup to the policyholder. It is called "free" but in fact, it is not. The cost of the checkup is included in the premium. Buy such a policy only if you are willing to avail of the facility every year. Also check that the Mediclaim policy, renewed every year, gives coverage for the entire life. This is important because life expectancy is increasing due to better medical technology. While most insurance companies offer full life coverage, some only provide cover for 75–80 years.

● Maternity and daycare

Some new medical insurance policies provide hospitalization cover that does not require an all-night hospital stay. These are called day-care procedures. Furthermore, most insurers do not consider maternity as a medical emergency. So if your child does not have a plan, do not look for maternity cover.

● Top-up plans

Medical costs are rising, as a result of which cover payments are also increasing. But not all can afford a high premium. In such a case a top-up health plan can be useful. This reduces the burden on the policyholder, that is, the amount paid by the policyholder is also paid by the insurance company. The insurance company will pay only the sum assured. On the other hand, a top-up plan pays until the hospital bill crosses a specific limit (sum insured).
Suppose, if the hospital bill is Rs 8 lakh with Rs 3 lakh as deductible (patient responsibility), which you will have to pay later, while the insurer will pay the remaining Rs 5 lakh. But you can use your individual / group policy to pay the deductible amount. This is usually helpful because combining a basic mediclaim policy with a top medical plan is much cheaper than a single cover. For example, the premium would be Rs 6,500 for a regular cover of Rs 5 lakh for a 26-year-old male. There will be an additional premium of Rs 5,000 with a top-up cover of Rs 15 lakh, which is much cheaper than a standalone policy of the same amount.

To avoid mistakes while buying medical insurance plan online

There is no doubt in saying that choosing the right insurance company for your health insurance needs is a difficult task. Today, all the internet features and many options of health insurance plans make it easy for a person to buy it in a few seconds, but that does not mean that you should become an unrestrained buyer. Due to our busy life and a long list of terms and conditions, we should not rush into decision making. Due to this haste while purchasing a health insurance plan, we make some mistakes that we should avoid: -

● Inadequate coverage:

Cost, which the person pays for their health insurance plays an important role in which policy you should go for. Therefore, due to saving only the amount, people choose the policy with less coverage. You can call it insufficient coverage. It is true that cost plays an important role in choosing a health insurance plan but it should not be the only element to find your policy.

● Compare insurance companies:

When purchasing or renewing a health insurance plan it is important for you to understand that comparing many plans will help you to get the best and most suitable plan that can easily meet your needs.
If you get something better than your existing health insurance policy, you should switch to the insurer without hesitation. There are many companies that are providing exciting health insurance plans to stay on top and attract consumers from time to time. Just take advantage of this and enroll yourself in the most appropriate policy according to your needs and budget.

● A correct description of medical history:

This is the most common mistake people usually make. This becomes the biggest reason for the rejection of health insurance claims by the insurer. When looking for a health insurance plan it is very important to be transparent about your medical history, do not hide anything and let your insurer know in advance about all your medical problems.

● Cashless hospital facility:

This is one of the most attractive features. As a consumer, you should look while looking for a health insurance plan. But people generally ignore this facility and think that they will arrange the money in a time of need and later they will be reimbursed by the insurer. But have you ever thought that if you take money from others then for this you may have to pay a lot of interest? You should always go with the plan that offers cashless hospital benefits, so you don't have to worry about medical bills as the insurer will settle it with the hospital itself.

● Choose premium and co-pay wisely:

While purchasing a health insurance plan, you will get the option of co-payment. Accordingly, when you are filing a claim, you have to pay a pre-determined amount and the insurance company will take care of the balance. Please keep in mind that the co-payment amount will not affect the sum assured.

● Policy as per requirement:

If you do not need a rider, it is advisable not to buy it. Take some time to understand your needs, write it down and then go for a plan that can easily meet your needs.

● Purchase policy early:

It is true that many people do not realize the importance of health insurance plans in their lives. But it is also a plus point that most health insurance companies offer multiple benefits to the buyer with a low premium. The longer the policy is taken, the fewer options there will be to choose because at that time some insurance companies will not be ready for your insurance.

● Do not be satisfied with the insurance provided by the employer:

There is a possibility that you are getting health insurance coverage by your employer but it is not necessary that it will be sufficient for you as it is not customized to your needs. You should also keep in mind that once you change the company, the employer will also discontinue its health insurance coverage. It is always necessary to choose a supplemental health insurance plan which will suffice for you. You can also use your employer's health insurance plan to make a claim and get a no-claim bonus on your personal health insurance policy.

● Important riders:

As discussed above, it is important for you to first understand your needs and then go for a plan that can easily meet your needs.

Health Insurance Portability

A person comes to know of a useless health insurance plan when he has to face trouble during need. But at the time of renewal, you can protect yourself from such a bad policy and with the help of health insurance portability can switch to any other health insurance plan by top insurance companies of India. The Insurance Regulatory and Development Authority (IRDA) has kept these in mind while designing this convenient mode for consumers.
The option of health insurance portability allows you to transfer your current insurance policy to a new health insurance company without compromising with benefits. With this, consumers are getting complete freedom to change the insurer whenever they want. It basically acts as a safety net for the accrued benefits accumulated by a customer on their current health insurance policy.

Inadequate cover for a specific health issue.

Poor service quality.
Late Reimbursement.
Slow or inefficient claim settlement.
lack of transparency.
Increased premium in case of a claim
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I would like to switch to a health insurance company that provides personalized services that are tailored to the needs of the client.
Better offers offered by the health insurance company.
Hidden Conditions and Volumes.
Health Insurance Portability Guidelines.
In the context of health insurance portability, IRDA has laid down certain rules in which consumers will be able to help change the insurer whenever they want. These rules have to be followed carefully to ensure that the policyholder's health insurance portability request is not rejected.
Equal Health Insurance Policies - Only Equal Health Insurance policies have the power to be ported. A policyholder can easily migrate from one plan to another by another health insurance company.
Form of the company - A policyholder has the power to switch from a particular or general insurance company to another particular or general insurance company.
Renewal period - Health insurance portability can only occur at the time of renewal. But if there is any form of imbalance in the policy, it will not be considered portability. When it comes to delays from the insurance company, it will not be considered a form of imbalance.
Acknowledgment - Both the insurance companies concerned have to accept any portability application which is done by the insured within three days.
Information - A policyholder who wishes to select health insurance portability must notify their current health insurance company by referring to the health insurance company with which they wish to port. The policyholder should inform the insurers 45 days before the renewal of the existing policy.
Porting Fee - No charges are levied on health insurance portability.
Grace period - The policyholder's application for porting is still in process or the decision of the new insurer has not yet come, in which case the policyholder is given a 30-day grace period for renewal of the policy
Porting in the same company - Policyholders are allowed to port from one plan to another within the same insurance company.
Benefits of Health Insurance Portability
A customer can easily get a customized health insurance plan that can easily meet their needs.
In the case of health insurance portability, the new insurance amount will include the old sum insured, no claim bonus (if applicable), and earned a bonus.
The policyholder does not have to think of any time-bound exclusions when applying for health insurance portability.
Insurance companies have started providing health insurance at a lower premium to be ahead of their competition.
An insured can take advantage of a better claim settlement process with a new insurance company.
A policyholder can select a health insurance company that offers a policy without any hidden clauses or conditions.
Health Insurance Portability Disadvantages
Policyholders are restricted to change insurers at the time of policy renewal.
The insured does not have the power to change the health insurance policy which is quite different from their current policy. They have to switch to a similar policy which is provided by a different insurance company.
There may be higher premiums for additional benefits that come with the new policy. This can erase any monetary benefit that the policyholder is entitled to.

Top Health Insurance Plans by Government of India

The central and state governments of India have come up with several health insurance plans to improve health care plans for the unorganized sectors and those under the Poverty Line (BPL) category. Here is a list of health insurance plans provided by the government:

● Ayushman Bharat Scheme:

Ayushman Bharat is basically a National Health Protection Scheme which will provide coverage to 10 crore poor and vulnerable families. This means that it will provide coverage to 50 crore beneficiaries. Under this, each family in the secondary and tertiary care hospital will get a cover of up to about Rs 5 lakh per year. This effective health program will reduce the current centrally sponsored schemes - National Health Insurance Plan (RSBY) and Senior Citizens Health Insurance Plan (SIIS).

● National Health Insurance Plan (RSBY):

This subsidiary scheme was launched by the Ministry of Labor and Employment to provide essential health insurance coverage, especially to BPL families. Under this plan, all the beneficiaries can easily get benefits in the hospital whenever they need a cover of up to Rs 30,000. To receive enrollment under this effective health insurance plan, there is no specific age limit and you will be liable to get pre-existing diseases cover from the first day of the policy. The scheme is designed in a way that can provide coverage to a maximum of 5 members of the family including spouses, children, and dependents. The beneficiaries will have to pay only Rs 30 as registration fee. The remaining premium will be paid by the central and state government to the insurance company.

● Pradhan Mantri Suraksha Bima Yojana:

There is no doubt in saying that accidents are an unfortunate incident that does not discriminate against people on the basis of rich and poor. However, accident insurance in India is doing very well with the rich and middle class as well. The worst sufferer is the poorer section of the society, who are unable to buy effective and adequate health insurance policies. To ease the poor, the government has brought this effective health insurance plan called Pradhan Mantri Suraksha Bima Yojana. The scheme provides large coverage at a cheap premium and provides compensation to the family of the deceased or if the policyholder is partially or permanently disabled after the accident.

● Central Government Health Scheme (CGHS):

This insurance policy was launched in 1954 in New Delhi. It is now available in CGHS covered cities like Allahabad, Bhopal, Chandigarh, Ahmedabad, Lucknow, etc. It provides essential comprehensive health coverage to all central government employees and pensioners. Dependents of these employees are included as long as they live in CGHS cities. The insurance policy provides coverage against home care, specialist counseling facilities, laboratory testing, hospitalization and health education to the beneficiaries.

● Aam Aadmi Bima Yojana (AABY):

It is basically a social security scheme that was launched in October 2017 to provide essential healthcare to all rural and landless families. The head of the family or the earning member of the family will be covered under the scheme. An insurance premium of Rs 200 per year is paid by the central and state government. The beneficiary must be between 18 and 59 years of age. An add-on benefit under the policy includes scholarships for enrolled children. The beneficiary will get Rs 75,000 on accidental death or permanent disability on the natural death of the policyholder member and Rs 37,500 on partial permanent disability.

● Jayashree Insurance Scheme (JBY):

This insurance policy was launched on 10 August 2000. It replaced the Social Security Group Insurance Scheme (SSGIS) and the Rural Group Life Insurance Scheme (RGLIS). This policy is specially designed for those who fall under the BPL category and are slightly above the BPL category among the 45 business groups covered under the plan. Some businesses which will be responsible for getting cover are BD workers, carpenters, power loom workers, cobblers, handicraft artisans, farmers, construction workers, etc. Aam Aadmi Bima Yojana and Janashree Bima Yojana have been merged into one scheme and since 2013 it has been converted into Aam Aadmi Bima Yojana.

● Employment State Insurance Scheme (ESIS):

A social security scheme specifically designed to provide socio-economic security to the working class and their dependents. Policyholders and their families who will receive full medical care from day one. Under the policy, the beneficiary will receive cash benefits at the time of illness and temporary or permanent disability which reduces the loss of earning capacity. This policy also covers the dependents of the policyholder. Under the ESI scheme a monthly pension called 'Dependent Benefit' is provided. The scheme applies to non-seasonal factories, theaters, shops, restaurants, hotels, road motor transport undertakings and newspaper institutions employing more than 20 people. Recently, private medical and educational institutions employing more than 20 people have also been covered under the scheme in some states and union territories.

● Universal Health Insurance Scheme (UHIS):


A new health insurance plan specifically designed to provide essential healthcare to a wide area of ​​the country. Under the scheme, beneficiaries will receive reimbursement for medical expenses up to Rs 30,000 and accidental death cover up to Rs 25,000. This policy is only for BPL families. The insurance premium for this scheme is Rs 200 per person, Rs 300 for a family of 5 and Rs 400 for a family of 7. There are four public sector/government health insurance companies in India, New India Insurance Company, United India Insurance Company, National Insurance Company Limited, and Oriental Insurance.
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