Today, medical insurance policies are no more a luxury items for Indians. An important “need-based item”, such policies are specially designed to meet the discerning needs of people habituated with increasing incomes, and those at the fag end of their career alike. Due to high medical inflation, it is becoming increasingly difficult for most parties to afford expensive hospital expenses—and this is where medical insurance policies come to the rescue and decrease the dependence on precious savings.
Before checking out the top 5 health insurance policies in India, it is better to know what exactly health insurance is. Well, medical insurance or health insurance covers the surgical and medical expenses which are incurred in the processes of diagnosis, treatment and recovery of those insured. These insurance plans help in reimbursing the costs of illness, injury and any other expenses that are payable to the provider.
Top 5 Health Insurances Policies in India
1. Star Health
It is a joint venture between the famous ETA Ascon Group, Oman Insurance Company and other reputed insurance companies, and is known to be the first medical insurance company in the nation. The Optima insurance plan of the company is ideal for a family with 2 adults and 2 kids. The minimum and maximum age limits are 3 months for kids and 65 for adults.
You can pick Star Health Optima Plan to choose the comprehensive health cover for your family. The policy offers assured renewal for life, emergency ambulance, cataract treatment, room, nursing and boarding expenses, pre/post hospitalization expenses, reimbursement, consultant fees, specialist fees, surgeon fees, medicines and also day care procedures.
2. Max Bupa Health Insurance
The company is a joint undertaking between the Bupa Group and Max India Ltd. and is known for its customer friendly and innovative schemes. Max Bupa Health Companion is a policy covering 50-members and 13 relationships. It covers health check-ups, all day-care procedures, assured renewals, new born baby expenses, vaccinations, 24 x 7 access, no age limitation, maternity benefits and more.
3. HDFC ERGO General Health
HDFC ERGO General Insurance Limited is a Joint Venture of HDFC Ltd and ERGO International AG. The company has brought changes in the world of health policies with portability benefits and lifetime renewal. Easy Health Exclusive for Family is a good plan from the company; it covers people of all ages. The minimum age of entry is 3-months, while the maximum is 65-years. Emergency ambulance, maternity care, critical illness, cashless facility and such expenses are covered under this plan.
4. Reliance General Health Insurance
Reliance General an Indian health insurance company, is a part of Reliance Capital of the Reliance Anil Dhirubhai Ambani Group. The company offers many ideal medical insurance plans which cover major medical expenses. You can pick Reliance Health Gain Policy to get the wide health cover for the family. The plan covers people between the age of 5 and 75. Its Health Wide Family Floater is a popular plan that covers kids of 3 months to adults aged 55 years. The maximum age for renewal is 75 years. This plan covers post/ pre-hospital expenses, day-care procedures, emergency ambulance expenses, cashless facility, room rent, nursing expenses and reimbursement of other agreed upon costs.
5. ICICI Lombard
It’s one of the largest health insurance companies in India. It offers many plans, with a popular one being Health Advantage. Company representatives offer a comprehensive Health Insurance Guide to help customers choose a plan according to the needs and budget. You can pick ICICI Lombard CHI plan to avail the health cover. The minimum and maximum age limits are 5 and 65 years respectively. The plan can be renewed up to 70-years of age. It covers day-care procedures, swine-flu, room rent, pre and post hospitalization expenses and emergency ambulance expenses. The policy provides cashless facility at network hospitals.
Comparing the different policies with the help of an online comparison chart, can help you pick the right health insurance plans for yourself and for your loved ones. However, always ask in detail about the terms and conditions related to the policy, so that you do not have to confront any unpleasant surprises in future.