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Compare Health Insurance Policies to Choose the Best Plan!!

In this modern era, not only the cost of living has increased, but the cost of medical treatments has also risen. Therefore, in order to prevent the medical emergencies from becoming a financial crisis, it is suggested to opt for a health insurance policy. A medical insurance plan ensures to provide cover against an extensive range of medical needs of an insured without costing much.

Since there are various health insurance companies that are offering good health insurance plans with varied features, it may become difficult for an individual to pick up a policy that meets his/her needs. Sometimes, in order to get a health insurance policy that costs less, one may end up purchasing a plan that has some contradictory clauses and gives nothing when a claim is filed.

On the other hand, one may end up purchasing a medical insurance policy that has high premium rates and has some inclusions that one does not really use. To avoid such situations, it is always recommended to compare health insurance plans online in India. There are various insurance web aggregators available online that can help you compare different health insurance policies and provide the best option.

Comparison Table of Health Insurance Plans in India

Seeing medical inflation in India, it is a wise decision to have a health insurance policy. Generally, most of the insurance providers cover health insurance plans as well, but to choose the best plan one can be a difficult task for a person. For such cases, there are insurance web aggregators available online to compare health insurance plans in India. However, to make things even clearer, we are here providing a health insurance comparison chart:

Plan Name Sum Assured Entry Age Features
Max Bupa Health Companion Individual For Variant1: Rs.1 Lakh, to 10 Lakh.
For Variant2: Rs.5 Lakh, to Rs.12.5 Lakh
For Variant3: Rs.15 Lakh, to Rs.1 Crore
Minimum-   90 days
Maximum-   Age no bar
  • Refill Benefit
  • Direct Claim Settlement
  • Animal Bite Vaccination
  • Hospital Cash Benefit
  • Long-Term Policy Benefit
Apollo Munich Optima Restore  Rs.3 Lakh to Rs.50 Lakh Minimum- From the 91st day
Maximum-   65 years
  • Critical illness as an additional cover
  • Restore Benefit
  • Benefits to Stay Active
  • E-opinion
  • Multiplier Benefit
Royal Sundaram Lifeline Supreme Rs.5 Lakh to Rs.50 Lakh For Adults:
Minimum-   18 Years
Maximum-   No bar
Children:
Minimum – 90 days
Maximum- 25 Years
  • Re-loads sum insured
  • The benefit of the second opinion
  • Covers organ transplant
  • Expenses for emergency domestic evacuation
  • Charges of pre and post hospitalization are covered.
Religare NCB Super Premium  Up to Rs.6 Crore Minimum-   91 days
Maximum-   No age bar
  • Sum insured automatic recharge
  • The benefit of everyday care
  • Lifelong renew-ability
  • Provides cover for domestic air ambulance
  • No Claim Bonus
Aditya Birla Diamond  Rs.2 Lakh to Rs.2 Crores Individual Plan:

Minimum-   5 Years

Maximum-  No maximum age of entry

Family Floater-

Minimum-  91 days

Maximum-  Dependent children up to 25 years

  • Booster for cancer hospitalization
  • Reload benefit for sum insured
  •  Room upgrade
  • Covers pre and post hospitalization.
  • Unlimited reload for sum insured
Star Family Health Optima  Rs.1 Lakh to 15 Lakh Minimum- 16 days
  • Benefit of auto-recharge
  • Accidental cover for road traffic
  • Compassionate travel
  • Amount insured restoration
  • Repatriation of the remains of mortals
HDFC ERGO Health Suraksha Gold Region Rs.3 Lakh to Rs.10 Lakh Minimum- No limit
  • Maternity benefits
  • Zero sub-limits
  • Cumulative bonus according to coverage
Star Senior Citizen Red Carpet Rs7.5 Lakh and 10 Lakh Minimum- 60
Maximum-   75
  • No need for medical screening
  • Quick and easy claim settlement process
  • Covers pre-existing illness
  • Provides the option of sub-limits
  • Covers medical consultation

How to Compare Health Insurance Plans?

Indian health insurance market offers more than 200 health insurance plans from approximately 25 insurance providers. Therefore, comparing these plans and selecting the most suitable one is really a difficult task. Below mentioned are some of the tips to compare health insurance plans. Following these points, while searching for a top health insurance plan, will allow one to take an informed decision:

  • Always keep the sum assured of choice in mind: The inflation rate in the healthcare sector of India is increasing very rapidly and growing at the rate of 20% to 17% per year. To meet this inflation, it is necessary to check and find out the highest available sum assured at the most affordable rate.
  • Remember the factors that determine the premium: Before determining the premium of the health insurance plan, it is essential to consider the factors affecting it. Some factors like the health history of the family, life history, habits of smoking, lifestyle, etc. directly affect the premium of a health insurance policy.
  • Provide full and correct details: It is essential to provide accurate information in the proposal form especially various health-related issues. Any incorrect information or mismatch in the information can lead to rejection of the form by the insurance provider.
  • Keep an eye on the credibility of the insurance company: Check the history of the insurance provider from which you are going to purchase the health insurance plan. Select a health insurance company based on the below-mentioned parameters:
    • ICR: ‘Incurred Claim Ratio’ is one of the most decisive factors while comparing health insurance providers in India. The ICR is calculated every year through the following formula:

                  ICR = Amount settled as Claims / Amount collected as Premium

While seeing the ICR of the company, it is suggested to look at the average ICR of various health insurance providers on our website. Select the one that is closest to the average for some years.

  • Check the Claim Process: Even though most of the health insurance providers have the same claim process, but knowing the smallest information related to it can give a gist of their working mechanism.
  • Experience of existing customers: Checking the reviews of the customers online for sure gives the clear picture of the insurance provider and its working methods. If there are more unhappy customers, then there may be some issue with the customer care of the company or its post-sales unit.

Advantages of Comparing Health Insurance Plans Online

Since there are several health insurance companies in India that are offering health insurance plans, it becomes really difficult to compare and select the best individual health insurance policy. Therefore, it is better to perform comparative analysis online with the help of an insurance web aggregator.  

Following are some of the advantages of comparing health insurance plans online:

  • Convenient and Time Effective Way: Gone are the days when a prospective insurance buyer has to spare some time to meet the insurance agent and compare various health insurance policies based on agent’s opinion. Now things are quite transparent, easy, and fast. One can compare various health insurance policies online without investing much time. Additionally, different other tasks, for example, health insurance plan renewal, premium payment, etc. can also be performed online.
  • Availability of Correct Information: Provides a simple method to access all the health insurance policies available in the insurance market online and get the correct data related to it. The buyers now do not have to deal with the insurance agents who generally provide biased and altered information about health insurance plans.
  • Option to Review Plan/Provider: This gives an idea about the insurance provider’s overall image to the buyer.
  • Option to Choose Affordable Plans: A buyer purchasing a health insurance policy must have performed a comparison of health insurance plans online and hence must have selected the plan that is affordable for him/her.

Why Compare Health Insurance  with healthinsuranceplans.in?

Healthinsuranceplans.in is a platform to buy and compare health insurance policies online. The process that is followed in healthinsuranceplans.in is easy and quick in comparison to traditional comparison through agents.

Here, one has the option to compare medical insurance plans of top health insurance providers and purchase the best one. However, if a buyer wants us to recommend the best health insurance policy for him/her, then it is required to provide his/her basic requirements.

Since we are an unbiased portal, to provide the best health insurance plan is our first priority and hence maintain customer satisfaction. Our post-sales services are dedicated to customers and do their best to satisfy customers during the claim process also.

Therefore, going to different websites, searching for different health insurance policies, and then comparing them to get the best is not recommended in this modern era where everything is online and automatic. We compare different health insurance policies and provide the comparison result on one page with their quotes. Our process of comparing health insurance policies is smooth and hassle-free.