Health insurance is a vital safety cushion for one’s hard-earned savings in today’s age of mounting healthcare costs. With the availability of a range of health insurance plans created to meet diverse healthcare requirements, you must take the crucial decision of choosing the best medical insurance policy for the well-being of your family. The best health insurance plan is the one designed to meet the specific healthcare needs of you and your family, and offers a wide-ranging yet affordable coverage and health benefits for a financially secure future.
What is Health Insurance?
Health Insurance is a health care coverage product that is steadily gaining importance in India due to rising medical inflation every year. Under a health insurance policy, the medical expenses of an individual or a group of individuals are covered by an insurance company or the ‘insurer’. For availing the benefits of insurance, the individual(s), also called the ‘insured’ is required to pay a specific sum or ‘premium’ to the insurer. Health insurance plans offer comprehensive health coverage. That is, it covers a range of medical expenses incurred by the insured. The expenses are not just limited to hospitalization costs incurred as a result of injury, illness or any chronic ailment. Based on the health insurance plan, the insurer may either reimburse the incurred costs or settle the medical bills directly with the healthcare provider. Health insurance makes it easy for people to avail cashless quality medical treatment in a network hospital.
Best Health Insurance Plans
The top 6 best health insurance plans are:
- Health Insurance for Family
- Health Insurance for Senior Citizens
- Maternity Health Insurance
- Diabetes Health Insurance
- Heart Insurance
- Health Insurance Super Top Up
Purchasing the best health insurance plan becomes easy with the online facility that allows buyers to browse through a number of available health insurance policies and choose the one that rightly fulfills their unique healthcare requirements. Buying a health insurance policy online is a highly convenient option for you owing to paperless processing, availability of complete policy details and hassle-free procedures for filing claims.
If you already have a health insurance plan with Care Health Insurance (formerly Religare Health Insurance), we will cover hospitalization expenses due to Coronavirus. The expenses will be settled on the basis of the terms and conditions of the policy.
Health Insurance for Family
In today’s times when healthcare costs are skyrocketing, buying ahealth insurance for family is the best decision one can take in order to ensure a financially secure future. As the name implies, family insurance health plans offer health cover for a group of members of a family, say an individual, spouse, dependent children and dependent parents. They are counted among the most preferred and affordable health insurance plans that offer comprehensive coverage, considering a wide range of medical expenses. Such medical insurance policies offer coverage for maternity expenses, pre and post hospitalization expenses, daycare treatments, cover for ambulance costs, and more.
Health insurance plan for family provides complete health cover for a range of healthcare expenses incurred by the family members. Some key benefits of a family health insurance plan are:
- The premium is affordable compared to individual plans.
- The sum insured amount is usually high for family floater policies.
- It includes maternity coverage with the option of adding new members under the plan.
- Guarantees tax deductions on the premium paid under section 80D of the Income Tax Act.
Health Insurance for Senior Citizens
It is a specifically-designed health insurance policy for providing coverage for the healthcare costs likely to be incurred by senior citizen individuals. The health insurance policy for senior citizens offers coverage for higher premiums by considering the possibilities of age-related illnesses and likely hospitalization.
- Covers a range of medical expenses like hospitalization, pre and post hospitalization, domiciliary hospitalization, daycare treatments, ambulance cover, etc.
- Cover for pre-existing illnesses subject to a minimum waiting period.
- Higher sum insured amount keeping rising medical costs in view.
- Cover for alternative treatment and free health check-ups.
Maternity Health Insurance
For those on their way to embracing motherhood, constant care and support are essential and so is a maternity insurance cover to deal with the rise in expenses. With high costs of pre and postnatal care in India, it is essential to opt for the best maternity coverage. Care Health Insurance (formerly Religare Health Insurance) offers two customized maternity plans with defined waiting periods. The plan offers complete cover for expenses incurred before, during and after hospitalization as well as cover for new-born baby care.
If you are in the phase of life of embracing motherhood, then maternity health insurance plan is a must for you to help you get quality maternity care without worrying about the financial impact.
- Comprehensive maternity covering hospitalization, pre and postnatal care, doctor fees, lab tests, and medication.
- Medical cover for new-born babies including screening tests, physical examinations and vaccinations.
- Tax benefits on the premium paid for the policy.
- Cashless and hassle-free claim at any of the network hospitals.
Diabetes Health Insurance
Diabetes is a medical condition that has affected the lives of millions of Indians. The treatment costs can be expensive and impact the monthly savings of a family. This is why diabetes health insurance plans are designed to help individuals deal with expensive treatment costs. Care Health Insurance (formerly Religare Health Insurance) provides a customized health insurance plan for diabetes with complete hospitalization cover and numerous benefits for the insured person, as specified below:
- A range of sum insured options offering coverage for hospitalization expenses.
- Cover for pre and post hospitalization expenses, domiciliary hospitalization and dialysis cover.
- The initial waiting period of minimum 30 days from any illness and lifelong renewability.
- Facility to avail annual health check-up.
With the rise in heart-related ailments, it is of paramount importance to take suitable health care measures. Buying a health insurance plan is also recommended as medical costs are steadily on the rise. Heart insurance policies cater to the specific healthcare needs of individuals suffering from heart ailments and help them minimize the financial burden. Such plans provide comprehensive coverage for pre-existing heart illnesses entailing expenses resulting from hospitalization, pre and post hospitalization, alternative treatment methods, ambulance, OPD care, domiciliary hospitalization, etc. In addition, policyholders can avail additional benefits such as automatic recharge facility, no claims bonus, international second opinion as well as cardiac health check-up.
Health Insurance Super Top Up
Super Top-up health insurance plans offer coverage for medical expenses only after a defined threshold limit has been reached. They work on the principle of Policy Deductible which is a predefined amount borne by the policyholder. Any amount over and above policy deductible will be borne by the insurer. In other words, top-up health insurance plans serve as additional health cover for people already having an existing individual or Mediclaim policy.
Super Top-up plans offer a host of benefits for the insured. Given the growing medical inflation, many people cannot afford to have an additional financial burden by spending a huge amount on premiums for medical insurance policies. This is when top-up health insurance plans offer numerous benefits:
- Flexible options when it comes to choosing deductible and sum insured max up to 55 lakhs.
- No pre-policy medical check-up and direct insurance claim settlement.
- Option to avail medical treatment anywhere in the world.
- Hassle-free cashless treatment facility at a network hospital.
- Explore our online health insurance plans and enjoy a smooth paperless purchase process, all within a few minutes!
What Does Health Insurance Not Cover?
As a health insurance policy buyer, you must check for the policy exclusions specified by the insurer in order to understand the scenarios where making a claim will not be possible. Knowing about these exclusions will enable you to plan your finances in times of emergencies. Some exclusions are mentioned below:
- Any reports of drug or substance overuse or rehab facilities.
- Ongoing treatments before the commencement of policies.
- Diagnosis and treatment of congenital diseases.
- Injuries faced due to an attempt to murder or self-inflicted wounds.
- Abortion or miscarriage.
- Any other unnatural cause of physical injury.
How to Choose the Best Medical Insurance Policy?
Buying the best health insurance policy involves careful planning and consideration of various factors. The first step involves identifying the healthcare needs of you and your family, and opting for a suitable plan, say a Family Floater Policy. If you have elderly parents at home, it is wise to go for a senior citizen health insurance plan. The next factor to consider is good coverage in terms of the sum insured keeping the likely health risks in mind. Look for a cashless hospitalization feature in your policy that lets you avail cashless treatment in any of the network hospitals. Affordable premiums and reasonable sub-limits on certain medical expenses for the highest possible coverage are some other factors to look for when choosing the best medical insurance policy.
Benefits of Health Insurance Plans
- Guarantees financial protection during medical emergencies by covering major medical expenses, thus saving one from out-of-pocket expenditures.
- Customized health insurance plans like personal accident cover, health cover for senior citizens, maternity cover, etc. based on the health needs of you and your family.
- Coverage for hospitalization expenses, pre and post hospitalization expenses including cover for OPD costs, lab tests, doctor’s fee, etc.
- Critical illness cover for expenses related to the treatment of life-threatening conditions.
- Additional benefits such as lifelong renewability as well as cover for alternative treatments, ambulance costs, day-care procedures, health check-ups, etc.
- Financial benefits upon policy renewal for having a claim-free year.
- Choice of availing the best possible treatment in a range of network hospitals spanning across locations.
- Tax benefits under Section 80D of the Income Tax Act with deduction up to Rs 25,000, if you are below 60 years of age.
- Additional tax deduction of Rs 50,000 on the health insurance premium paid for senior citizen parents.