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Best Medical Insurance Policies in India

By Shivshekar    4 / Jan / 2019    In Category Finance


A visit to the hospital is something that a lot of us fear. First and foremost, we fear the consequences of the medical conditions. One must bear the pain and inconvenience caused, either by the condition or the medical procedure. And then, there is the financial aspect of it. In the present day, a normal medical condition that requires admission to a hospital in the metro for a few days can cost you a hefty price and the bill can run into lakhs. Of course, it largely depends on the procedure and the hospitals, but taking into account the current medical inflation, it will cost you dearly.

What this also does is shift your or your loved one’s focus away from medical treatment to look for funds for the same. This is a distraction that one can easily avoid with the purchase of the best medical insurance plan in India. A health insurance plan either partially or completely takes care of medical and surgical expenses of an individual or their family members.

Reasons to Choose the Best Health Insurance policies in India

The need for a comprehensive mediclaim policy has become an absolute necessity. Below are the reasons to justify the same:

Keeps your health protected

This is perhaps the biggest reason for you to buy a medical insurance plan. A good mediclaim policy helps you to stay fit. If you get sick and require hospitalisation or even need to undergo surgery, the best medical insurance plan will take care of the costs. Then, you can also avail OPD services, go in for preventive health checks etc., if you have good health coverage. All these factors help you stay fit and live a long and healthy life.

Security for your savings

Getting medical attention can be very expensive these days. You can end up spending lakhs of rupees on a single hospital bill. This is another important reason why you need to buy one of the best medical insurance plans. A health cover will take care of the bills and keep your savings intact. Without a mediclaim policy in place, you may end up losing all your savings in just one go.

Tax savings

The final, yet equally important reason to buy the best medical insurance plan is the tax saving benefit. The premium you pay towards your health plan is tax exempted under Section 80D of the Indian Income Tax Act, 1961.

Some of the best medical insurance plans in India 2018

1. Health Companion Individual - Max Bupa

•    Covers the policyholder for medical expenses occurring from hospitalization and other such treatments.

•    Hospital room rent is covered without capping of expenses.

•    30 days pre and 60 days post hospitalization medical charges are reimbursed.

•    If you purchase a policy for 2 years, in the 2nd year, you can get a discount of 12.5%.

•    You can get cashless treatment in 3,500 authorized network hospitals.

2. Activ Assure Diamond - Aditya Birla

•    Covers for hospitalization, and sum insured can reach up to INR 2 crore.

•    Covers 30 days pre and 60 days post hospitalization medical expenses.

•    Provides other benefits such as domiciliary hospitalization, 586 day-care procedures, organ donor expenses, ambulance expenses, etc.

•    Additional benefits such as health check-ups, national or international assistance in case of emergency, etc.

3. Lifeline Supreme - Royal Sundaram

•    Covers hospitalization expenses, along with both 60 days pre and 90 days post hospitalization.

•    Offers other benefits such as ambulance expenses, organ donor expenses, domiciliary hospitalization, regular health check-ups, etc.

•    Maternity benefits and coverage for 2 babies or deliveries.

•    Covers day-care expenses of 147 days.

•    More than 3,000 network hospitals available for cashless treatment.

4. Religare Care Health Insurance

•    Covers hospitalization along with 30 days pre and 60 days post hospitalization expenses.

•    No cap on important expenses such as doctor’s fees.

•    Offers a trial period of 15 days and immediate cancellation.

•   Additional benefits such as regular health check-ups, 170 day-care treatments, organ donor cover, etc.

•    Cashless treatment available across 4,758 network hospitals.

These are some of the main reasons that you must consider for choosing a medical insurance plan from among the best health insurance companies in India.

Benefits of choosing the medical insurance plans

As mentioned above, some of the best medical insurance plans are available online. Here are some benefits you get when you choose an online health plan:

Reasonable rate

The best medical insurance plans that are available on the web are very reasonably priced. You will be surprised to know that the online medical insurance plans are quite less expensive than the offline medical insurance plans. So if budget is a constraint for you, do explore the online health insurance market to find a great cover at an inexpensive price.

Quick and easy

It is not just simple, but very quick to shop for your ideal medical insurance plan online. All you have to do is go online, fill in your details, pay the premium and the plan will be yours, provided you are young and healthy. You can buy the plan in the middle of the night or whenever you want, as there are no time restrictions either.

Less documentation: Remember how many documents you had to submit to your insurance provider when you bought your health cover offline? Well, gone are those days. Nowadays, for the best health insurance plans online, you just need some basic KYC documents and your policy will be on its way.

Prompt claims

The claim process is also very straightforward for the online medical plans. You can download the claim form, fill it up and submit it online. This saves a lot of your time and effort.

Easy to compare

There are many advantages you get when you compare the various medical insurance plans. You can do this with ease when you look for the best health insurance plans online. So make use of the comparison tool and locate your ideal cover in no time.

These are some of the main benefits you get when you shop for the best health insurance plans online. 

In a nutshell

We can clearly see from the points mentioned above, the best medical insurance plans are an absolute necessity in today’s day and age. You have to do your research and see which plan is best suited for you. Also, you need to chart out your own requirements to ensure you get the best possible cover. Keep all the points mentioned above in mind and you will surely be able to select the best possible medical insurance plan for yourself and your loved ones.

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