Finding the Best Health Insurance plan in India becomes so confusing as there are a lot of health insurance plans from so many health insurance companies. Top health insurance plans cover all your major healthcare treatment costs. While choosing the best health insurance plan, you must look into these factors such as sum insured option, affordability, add-on features, additional riders, claim settlement ratio of the insurer, etc.
What are Health Insurance Plans?
A health insurance plan is a contract between the customer and the health insurance company in which the insurer pays the cost of medical treatment of the insured as per the terms and conditions in the policy documents. Mostly, health insurance companies have tie-ups with hospitals (Network Hospitals) where policy holders can avail cashless treatment.
In other words, Health insurance plans either reimburse or pay a pre-determined sum insured to policyholders for medical expenses incurred due to injuries or diseases.
Best Health Insurance Plans in India for July 2023
There are a variety of health insurance plans in India offered by various health insurance companies But finding the best health insurance plan is a tedious task. We RenewBuy is making it easier for you as we have compiled the list of best Health Insurance plans in India along with its key features in the table below:
Individual Health Insurance Plans
An individual health insurance plan is a health plan that provides financial protection to a single insured person against the financial burden of medical expenses and hospitalization costs. You can get an individual health insurance plan for your aged parents, your spouse, your children, or even yourself.
|
Individual Health Insurance Plans |
Health Insurance Companies |
Coverage Benefits |
Network Hospitals |
|
ManipalCigna LifeTime Health Plan |
ManipalCigna Health Insurance |
|
6500+ |
|
HDFC Optima Restore Plan |
HDFC Ergo Health Insurance |
|
13000+ |
|
Care Plan |
Care Health Insurance |
|
16500+ |
|
Care Advantage |
Care Health Insurance |
|
16500+ |
|
Niva Bupa Health Reassure |
Niva Bupa Health Insurance |
|
7600+ |
*Disclaimer: We RenewBuy does not endorse any specific insurance company or insurance product offered by any insurer and this list is just an illustration of the plan offered by different health insurance companies.
ManipalCigna Lifetime Health Plan
ManipalCigna LifeTime Health Insurance offered by ManipalCigna Health Insurance is a health plan that prioritizes your healthcare needs and looks after them. ManipalCigna Lifetime Health Plan offers various types of comprehensive benefits for domestic and international medical costs. ManipalCigna Lifetime Health plan offers high-sum insured options ranging from INR 50 Lakh to INR 3 Crore that you can choose per your requirements. ManipalCigna Lifetime Health comes in two types, i.e. individual and family floater health insurance. ManipalCigna Lifetime Health plan offers 2 variants: LifeTime Health India Plan & LifeTime Global Plan.
Family Health Insurance Plans
Family health insurance plan is a health insurance plan that provides coverage to the entire family in a single health insurance plan. Family health plan covers each member of your family for a single premium amount. This means that you do not need to pay premium separately for each person, irrespective of their age.
|
Family Floater Health Plans |
Health Insurance Companies |
Coverage Benefits |
Network Hospitals |
|
ICICI Health Shield |
ICICI Lombard Health Insurance |
|
6500+ |
|
HDFC Optima Secure Plan |
HDFC Ergo Health Insurance |
|
13000+ |
|
Care Plan |
Care Health Insurance |
|
16500+ |
|
Care Advantage |
Care Health Insurance |
|
16500+ |
|
ManipalCigna ProHealth Prime |
ManipalCigna Health Insurance |
|
6500+ |
*Disclaimer: We RenewBuy does not endorse any specific insurance company or insurance product offered by any insurer and this list is just an illustration of the plan offered by different health insurance companies.
ICICI Health Shield Plan
ICICI Lombard Health Shield Plan is one of the variants of ICICI Lombard Complete Health Insurance. It is a comprehensive health insurance plan designed to meet every healthcare need of an individual and their family. The health shield plan by ICICI Lombard Health Insurance meets the healthcare needs of its customers by offering free health check-up coupons.
Senior Citizen Health Insurance
Senior health insurance plans cover medical costs for people above the age of 60 years. These health plans were explicitly designed to provide financial assistance to senior citizens in the case of medical emergencies. Most of these health insurance policies provide coverage for critical illnesses and pre-existing conditions.
|
Senior Citizen Health Insurance Plans |
Health Insurance |
Plan Coverage Benefits |
Network Hospitals |
|
Niva Bupa Senior first Plan |
Niva Bupa Health Insurance |
|
7600+ |
|
Care Health Senior Plan |
Care Health Insurance |
|
16500+ |
|
Aditya Birla Activ Care Plan |
Aditya Birla Health Insurance |
|
5700+ |
|
TATA AIG MediSenior |
TATA AIG Health Insurance |
|
7000+
|
|
Star Health Senior Citizen Red Carpet |
Star Health Insurance |
|
12000+
|
*Disclaimer: We RenewBuy does not endorse any specific insurance company or insurance product offered by any insurer and this list is just an illustration of the plan offered by different health insurance companies.
Niva Bupa Senior First Plan
Niva Bupa Senior First from Niva Bupa Health Insurance is a senior citizen health plan that comes with features that guarantee good health to the policyholders at all times. Niva Bupa Senior First is a cost-effective and rewarding health insurance option and is a unique health insurance policy that offers a sum insured of up to Rs 25 lakh in Gold and Platinum versions.
Critical Illness Health Insurance
Critical illness health insurance provides coverage for medical emergencies like cancer, heart attack, stroke, etc. These policies pays the lump sum cover amount to the policyholder in case of policyholder suffered from any of critical illnesses.
|
Critical Illness Health Insurance Plans |
Health Insurance Company |
Plan Coverage Benefits |
Eligibility Criteria |
|
Niva Bupa CritiCare Plan |
Niva Bupa Health Insurance |
|
7600+ |
|
Care Critical Illness Plan |
Care Health Insurance |
|
16500+ |
|
Star Criticare Plus Plan |
Star Health Insurance |
|
12000+ |
|
ManipalCigna Lifestyle Protection Critical Care |
ManipalCigna Health Insurance |
|
6500+ |
|
HDFC Ergo Critical Illness Platinum Plan |
HDFC Ergo Health Insurance |
|
13000+
|
*Disclaimer: We RenewBuy does not endorse any specific insurance company or insurance product offered by any insurer and this list is just an illustration of the plan offered by different health insurance companies.
Niva Bupa CritiCare Plan
Critical illness can compromise both the quality of life and financial stability of a family. Niva Bupa has launched a critical illness plan called Niva Bupa Criticare Plan to safeguard your finances in such situations. The Niva Bupa Criticare Policy was created exclusively for those who have been identified as having one of the 20 covered critical illnesses. It enables them to safeguard their savings from being wiped out while undergoing expensive medical procedures.
Benefits of Best Health Insurance Plans
There are many benefits of having the best Health Insurance plan in India. Some of them are mentioned below:
- Cashless treatment: Avail of cashless treatment at the network hospitals of the insurance company. You can get immediate medical treatment without paying even a single penny.
- Wide Coverage: Get coverage against medical expenses such as pre and post-hospitalization, maternity, daycare treatments, etc.
- Free Medical Checkups: Get free medical checkups annually as an additional benefit to check your health conditions as well as it reduces the risk of falling ill.
- Tax Benefits: You can save your tax under section 80D on paid policy premiums up to INR 25K. The deduction limit for senior citizens is INR 50K.
- Add-on Riders: You can enhance your existing coverage with the help of these additional riders offered under your health insurance plan by paying some extra premium.
Why Buy Best Health Insurance Plan?
Nowadays, inflation is very high and healthcare treatments are very expensive. It becomes crucial to buy the best health insurance plan to save the future of your loved ones or to reduce the burden of medical expenses in case of a medical emergency. And, when it comes to buying a health insurance plan for you and your family, you might get confused because of a lot of options in the market.
We at RenewBuy have a team of experienced insurance advisors who can help you select the best health insurance plan to meet your healthcare needs. A health insurance plan will cover your medical bills, daycare treatment, treatment costs arising from coronavirus, etc. You can also compare and buy a health insurance plan on your own by visiting the official website of RenewBuy.
* The Point of Sales Person (POSP) is appointed by D2C Insurance Broking Private Limited as per the Guidelines on Point of Sales Person issued by the IRDAI and amended from time to time.
How to Choose The Best Health Insurance Plan?
Various health insurance policies are available in the market, and each policy has unique coverage features and benefits. Before buying any health insurance plan, you check the inclusion and exclusion of the plan or you can contact our customer care representative, who will assist you to get the best health insurance plan as per your requirements. Following are the factors that you need to check before buying a health insurance plan:
-
Adequate Sum Amount
As we know, healthcare expense is skyrocketing due to high inflation in the country. You need an adequate sum insured to deal with this rising cost. Hence, always choose a plan that offers the maximum sum insured so that you are always prepared to deal with medical emergencies.
-
Right Coverage
It is important to buy a health plan that comes under your budget. And, if you are unable to buy health insurance with a high premium, tell your insurer to apply the co-pay clause to your plan. Later, the plan can be updated as your income increase and your family's size and needs change.
-
Waiting Period
Always buy a plan that provides coverage for pre-existing diseases with a lesser waiting period as the waiting period is shorter, the sooner you will get coverage for your existing diseases.
-
Extensive Hospital Coverage
It is always preferable to choose an insurance company that has a wide range of network hospitals on its list. Always check if the hospitals of policyholder choice are on the list or not. Network Hospitals help policyholders to avail of cashless treatment either in case of emergency treatment or planned treatment.
-
Claim Settlement Ratio
Always buy a health insurance plan from an insurance company that has a high claim settlement ratio. The claim settlement ratio is the number of claims settled by the insurance company over the total number of claims received in a year.
-
Compare Health Plans
Comparison of various health insurance plans based on their coverage benefits and the premium amount is one of the best ways to choose the best health insurance plan. The comparison enables you to identify the plan that offers the best coverage benefits within the budget.
-
Sub-limits and co-payments
Always go for a health plan with no sub-limits or co-pay clauses, as both clauses limit your coverage. Co-pay is a part of the claim amount you agree to pay on claim settlement. A sub-limit in a health insurance plan is a situation in which the insurer has to bear the expenses related to the medical condition up to a certain limit.
-
Lifetime Renewability Benefit
Make sure you get a health insurance plan with a lifetime renewability option. This is important because you will need health insurance as you get older. Unfortunately, purchasing health insurance in your later years is challenging and expensive. If your current plan has lifetime renewability, you can also keep it in your old age.
Why Buy Health Insurance From RenewBuy?
RenewBuy brings to you the best deals in Health Insurance plans across the market. The key reasons for you to consider us are as follows:
- IRDAI Certified
- Get Insured from leading Insurer
- Compare Various Health Plans in Just a few Clicks
- Simple & Easy Buying Process
- 24x7 Claim Assistance
Documents Required To Buy Health Insurance Plans
Below mentioned are the documents required to buy health insurance plans:
- Age Proof
- Identity Proof
- Address Proof
- Income Proof
- Passport Size Photograph
- Medical Reports
Buy Best Health Insurance Plan in India
Buy the best health insurance plan in India by visiting the official website of RenewBuy, as it offers a quick, smooth, and safe buying process. Below mentioned are the steps to buying the best health insurance plan in India.
- Visit the official website of RenewBuy.
- Click on the “Health Insurance” tab.
- Fill out the form that shows on the next page.
- Compare health plans and select your desired plan.
- Click on the “Buy Now” button
- A pop-up will show you the plan details and the additional riders information.
- Click on the “Proceed to Buy” button.
- Make online payment and the policy documents will be sent to your registered email address.
Comparison of Top Health Insurance Companies
There are total 28 health insurance companies available in India. But finding the best health insurance company can be a tedious task to do. So, we have listed the top health insurance companies in India along with their number of network hospitals, claim settlement ratio.
|
S.No |
Health Insurance Company |
Claim Settlement Ratio (2020-21) |
Network Hospitals |
|
1. |
97.20 |
7,000+ |
|
|
2. |
Aditya Birla Health Insurance Co. Ltd |
99.41 |
10,051 |
|
3. |
Bajaj Allianz General Insurance Co. Ltd |
96.59 |
8,000+ |
|
4. |
Care Health Insurance Ltd. |
100 |
19,000+ |
|
5. |
Cholamandalam MS General Insurance Co. Ltd. |
93.23 |
10,000 |
|
6. |
96.09 |
10,500+ |
|
|
7. |
Edelweiss General Insurance Co. Ltd. |
97.26 |
3281+ |
|
8. |
Future Generali India Insurance Co. Ltd. |
96.01 |
6,000+ |
|
9. |
HDFC ERGO General Insurance Co. Ltd. |
98.49 |
13,000+ |
|
10. |
ICICI Lombard General Insurance Co. Ltd. |
97.07 |
6,700+ |
|
11. |
IFFCO Tokio General Insurance Co. Ltd. |
89.38 |
7,500+ |
|
12. |
Kotak Mahindra General Insurance Co. Ltd. |
96.90 |
4,000+ |
|
13. |
Liberty General Insurance Ltd. |
97.30 |
5,000+ |
|
14. |
Magma HDI General Insurance Co. Ltd. |
92.34 |
7,200+ |
|
15. |
ManipalCigna Health Insurance Co. Ltd. |
99.90 |
7,600+ |
|
16. |
Niva Bupa Insurance Company |
99.99 |
8,600+ |
|
17. |
National Insurance Co. Ltd. |
86.28 |
6,000+ |
|
18. |
Navi General Insurance Ltd. |
99.99 |
10,000+ |
|
19. |
The New India Assurance Co. Ltd. |
92.93 |
1,500+ |
|
20. |
The Oriental Insurance Co. Ltd. |
90.18 |
2,500+ |
|
21. |
Raheja QBE General Insurance Co. Ltd. |
93.30 |
5,000+ |
|
22. |
Royal Sundaram General Insurance Co. Ltd. |
95.95 |
11,800+ |
|
23. |
Reliance General Insurance Co. Ltd. |
98.65 |
8,600+ |
|
24. |
95.04 |
20,000+ |
|
|
25. |
Star Health and Allied Insurance Co. Ltd. |
99.06 |
12,000+ |
|
26. |
93.55 |
7,200+ |
|
|
27. |
Universal Sompo General Insurance Co. Ltd. |
95.77 |
4,000+ |
|
28. |
United India Insurance Co. Ltd. |
97.25 |
2,500+ |
FAQ’s
Health Insurance does not offer coverage for every medical expense. Some of the common exclusions under health insurance are
- self-inflicted injuries including suicide
- Injuries due to participation in any adventurous sport
- venereal or sexually transmitted disease
- Cosmetic treatment
- Treatments related to hearing, dental, and vision
- treatment of obesity
Yes, standard health insurance plans offer coverage for medical expenses related to the treatment of COVID-19 disease. COVID-19 treatment will be covered by your health insurance policy for both in-patient and out-patient charges. You can also buy coronavirus-specific health insurance such as Corona Kavach and Corona Rakshak Policies.
You can check the policy document or brochure for the eligibility criteria. Also, You can ask all of these questions directly to your agent or insurance company.
Yes, you can purchase multiple health insurance policies. If the cost of your treatment exceeds the amount covered by one policy, you can use the second policy to cover the balance.
Below mentioned are some of the tips to choose the best health insurance company in India:
- Always choose the health insurance company that has a high claim settlement ratio.
- Check the solvency ratio of the company.
- Check the claim process of the company.
- The company must offer various health plans.
- Check the list of network hospitals offered by the health insurance company.
You need to keep a few things in mind while choosing the best health insurance plans in India:
- Assess your budget
- Compare different health plans
- Compare different health insurance companies
- Evaluate your health needs
- Check the sum insured amount you need
- Read the health policy term and conditions
In India, it is important to buy health insurance for you and your family as lifestyle diseases are on the rise and medical costs are rising, especially in private hospitals. Therefore, it can cost you a lot if you do not have enough health insurance plans.
All health insurance companies offer the best cashless health insurance plans. If you are unsure, you can ask your insurer which network hospitals provide the option of cashless hospitalization. In India, all health insurance plans offer the best cashless hospitalization facilities. The health insurance companies offer cashless health insurance plans for individuals, families, senior citizens, etc.
Below mentioned are the types of health insurance plans available in India:
- Individual Health Insurance
- Senior Citizen Health Insurance
- Family Health Insurance
- Critical Illness Health Insurance
- Group Health Insurance
Below mentioned are the documents required to buy health insurance plans in India:
- Age Proof
- Address Proof
- Identity Proof
- Photographs
Some of the common coverage benefits offered under the best health insurance plan are:
- In-patient Hospitalization
- OPD Cover
- Coverage for Daycare Treatment
- Domiciliary Hospitalization
- Cataract Treatment
- Ambulance Cover
Yes, you can buy any health insurance policy from any health insurance company online and offline.
Health insurance plans provide health coverage to the insured and their family members in case of medical emergencies. You should buy a health insurance plan to avoid the financial burden in case of a medical emergency.
Below mentioned are the factors that can affect your health insurance premium amount:
- Age
- Lifestyle Habits
- Type of Health Insurance
- Number of covered members
- Number of add-on riders chosen
Below mentioned are some of the best government health insurance plans in India:
- Ayushman Bharat Yojana
- CMCHIS or Chief Minister Comprehensive Health Insurance Scheme
- ABMGRSBY or Ayushman Bharat Mahatma Gandhi Rajasthan Swasthya Bima Yojana
- Dr YSR Aarogyasri Health Insurance Scheme
Disclaimer: The information published in this article is for reader′s reference only. Content of this information is to provide an overview of your health insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice The makes no representations about the suitability, reliability, timeliness, and accuracy of the information, services, or any other items mentioned on this subject for any purpose whatsoever.