Choosing the Best Health Insurance Plans in India: A Brief Guide

Considering the Best Health Insurance Plans in India: A Brief Guide

Health insurance is a type of medical insurance in which your medical expense is covered by offering financial assistance. These expenses include hospitalization costs, medicine costs, and doctor consultation fees. It is important to have health insurance as the hospitalization cost is very expensive these days. A health insurance plan avails many benefits and amidst this pandemic, it is safeguarding your finances.

Things to Consider When Choosing the Best Health Insurance Plans

Here are the most common things that you should look at before taking a health insurance plan.

Consider Checking the Types of Health Insurance Before Deciding

There are mainly two types of Health insurance:

1. Public Health Insurance- This health insurance is provided through the government like Medicare and Medicaid.
2. Private Health Insurance- This health insurance is the plan you get through an employer or marketplace.

We can further categorize health insurance based on plan type.

Best Health Insurance Plans

Aditya Birla Health Insurance

Aditya Health Insurance provides innovative health insurance services to their customers. These plans are customized to meet the health insurance needs of its customers at an affordable premium. Some of the attractive premium plans include coverage for health treatment costs, coverage for daycare medical procedures, Personal Accident Cover, Hospital cash benefit, Critical Illness, and Cancer Cover.

Features of Aditya Birla Health Insurance Plans

1. Tax Relief.
2. Network Hospitals.
3. Wellness Coaching.
4. Multiple Sum Insured Option.
5. Wellness Coaching.

Universal Sompo Health Insurance

Universal Sompo General Insurance Company Limited is a joint venture between Indian banks- Allahabad Bank, Karnataka Bank, and Indian Overseas Bank, an Indian investment company, Dabur Investments, and a Japanese insurance company, the Somo Japan Insurance Company. Their headquarter is in Mumbai. This company offers a wide range of plans that are designed to meet all the requirements of the individual.

Advantages from Universal Sompo Health Insurance

The organization of Universal Sompo focuses on quality, customer relationships, and providing various health insurance across all segments of society in the country. This company is the preferred brand in the insurance industry among other organizations.

Following are the advantages that you will get after availing of insurance plans from universal Sompo.

1. There is a cashless hospitalization all over the country at a network of hospitals.
2. Pre and post-hospitalization expenses are covered.
3. The tax benefit is provided under section 80D.
4. Daycare procedures are covered with selected plans.
5. There is a free look-in period of 15 days.
6. Portability is allowed.

Check the Benefits of Health Insurance Policy

Here are the most common benefits of health insurance policies.

1. Offers a cashless treatment facility for medical treatment at the hospital without depositing any amount of money.
2. Pre-hospitalization and post-hospitalization expenses are offered.
3. Organ transplant expenses are offered.
4. No claim Bonus, lifetime renewability benefit.
5. Automatic restoration of the sum insured is also offered by them.

Make A Decision After Checking Family and Senior Citizen’s Insurance Plans

Health Insurance plan for Family

In a health insurance plan for the family, a single premium policy will cover your family members. It covers two or more family members at the same time. It can also be customized according to the family requirements.

Health Insurance for Senior Citizens

With age, the probability of being caught in disease increases. Therefore, a senior citizen’s health insurance plan is an important option, as in older age, the lesser or no income enhances the trouble. These plans are designed to cover senior people aged 60 years and above and provide coverage for diseases, critical illnesses, accidents, etc.

• Frequent medical expenses can easily be borne with the plan.
• Can afford proper treatment and medication with lesser income too.
• May increase life expectancy with regular and advanced treatment.
• Investment in health policy saves the tax under section 80D of the IT Act.
• Enhance the savings and bring independence in terms of financial security.

Parameters you should consider while purchasing a Health Insurance Plans.

Some suitable parameters you should consider while purchasing the most suitable health insurance policy includes-

1. Waiting period for pre-existing diseases.
2. Capping or sub-limits.
3. Waiting period for specific illness/diseases/procedures.
4. The number of network hospitals.
5. Claim settlement ratio of the insurance company.
6. Incurred

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