In India, healthcare costs are increasing rapidly, and healthcare quality is still a concern for many. That’s where medical insurance comes in. It is an essential component of an individual’s financial planning, and with so many options available, it can be daunting to choose the right plan.
We shall explore some of the best health insurance plans in India. By the end of this article, you will better understand what is health insurance, what to look for in a health plan and which plan may be the best fit for you. So, let’s dive in!
What is Health Insurance?
Health insurance plans in India are a vital part of an individual’s financial wellbeing as healthcare expenses can significantly burden one’s budget. The main purpose of medical insurance is to cover the medical and surgical expenses incurred by the insured.
The Indian healthcare system has made significant progress in the past few years, but it still lags behind many developed countries regarding quality and accessibility. Moreover, healthcare costs are rising at an alarming rate in the country. As per a report by National Sample Survey Organisation (NSSO), more than 80% of Indians do not have any medical insurance. This puts a significant financial burden on individuals and families, especially in a medical emergency.
In India, such life coverages have gained popularity recently, with more and more people opting for them. Insurance policies in India cover a range of expenses, such as hospitalisation, surgery, critical illness, and more. The premium for healthcare insurance plans depends on various factors, such as age, pre-existing medical conditions, coverage amount, and more.
Best Health Insurance Plan
Let’s look at some of India’s best health insurance plans.
1. Niva Bupa Health Premia
Niva Bupa Health Premia is a comprehensive plan that provides the insured and their family with ideal coverage. Everything that one may anticipate from a health plan is included in this. The plan comes in three different versions: Silver, Gold, and Platinum. One can select the level of coverage that best meets his or her needs thanks to the plan’s maximum sum insured value of ₹3 crore.
2. Niva Bupa GoActive Plan
It is essential to remain healthy in order to have a happy life. Niva Bupa GoActive, a complete insurance plan, is one such step that can assist you in maintaining your overall health and obtaining the finest treatment available in India. The plan is adaptable to your requirements; you may choose from a variety of advantages for you and your family. It is a low-cost health care insurance plan that allows you to insure yourself and your family, including your spouse and up to four children.
3. Niva Bupa ReAssurance Plan
This family insurance plan covers various medical costs, including outpatient hospitalisation, pre- and post-hospitalisation, organ transplant, e-consultation, childcare, alternative treatments, and emergency ambulance costs. By paying an additional premium upon purchasing the insurance, you may also buy add-on covers to this policy to further strengthen coverage. These include changes in room rent and personal accident and critical illness insurance.
4. Niva Bupa Health Companion Family Floater Plan
This plan offers coverage for hospitalisation expenses, daycare procedures, and more. It also provides coverage for maternity expenses, newborn baby cover, and vaccination expenses.
5. ICICI Lombard Complete Health Insurance
This plan offers coverage for in-patient hospitalisation, daycare procedures, and more. It also provides coverage for organ donor expenses and offers a daily cash benefit in case of hospitalisation. The policyholder can opt from a range of sum insured options, starting from ₹3 lakhs.
A medical insurance policy forms an integral part of an individual’s financial planning in India, given the rise in healthcare costs. With a wide range of health insurance plans available in the country, choosing the best one can be challenging. Family health insurance and individual health plans are two popular options. It is essential to carefully consider the coverage, premium, and other factors before selecting a medical insurance plan. Individuals and families can ensure that their healthcare needs are met without any financial burden by investing in the right insurance plan.