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Best Health Insurance Policies for 2017 – 2018

Meena Singh
By Meena Singh |mumbai, maharashtra

Health insurance has become an increasing necessity in this day and age. Today we will look at the best health insurance for the year 2017 – 2018 in this article.

In our lifetime, we have always come across people saying, “Health is Wealth”. Health is an irreplaceable asset that we all should cherish and protect. If we are healthy, we are happy. But, medical treatment has gotten more expensive and will get even costlier day by day.

A huge hospital bill or a costly medical treatment can give you a major shock and ruin your financial life. One should think about taking a good health insurance plan to overcome this. A health insurance policy plays a major role in ensuring that the medical expenses do not convert into a financial problem.

Health insurance plan gives you a financial assistance in case of hospitalization. In today’s market, there are several health insurance providers offering a variety of medical insurance products. So the question arises “Which are the Best Health Insurance Plans in India in 2017-2018?”

There are several factors that need to be considered for selecting a good health insurance plan in India. Few of them are listed below. I have considered the below factors in identifying the best health insurance plan:-

  • Premiums
  • Incurred Claim Settlement Ratio of Insurer
  • Hospital Network- Co-pay requirements
  • No claim bonus
  • Waiting period for pre-existing medical conditions
  • Waiting period for specific diseases
  • Maximum Age Period
  • Critical Illness Riders

 

In order to make your decision much easier I have listed 5 Best health insurance Plans in India for individuals as well as for a family.

Religare Health Insurance – Care Plan

Religare Care Health Insurance Plan has several unique features like:- Religare’s Care has an entry age of 91 days and no upper age limit. It enables any individual to buy the plan at any time- The sum assured ranges from Rs.2 lakh to Rs.40 lakh- Here, the waiting period for the pre-existing medical conditions is 4 years There is no co-payment clause for any claim to be made- There are no sub-limits on room rents- Insured claim settlement ratio is 61.13%- The no claim bonus ranges from 50% to 150%- Offers coverage for day care procedures – Offers coverage for pre and post hospitalization expenses along with ambulance charges

Apollo Munich – Easy Health

Apollo Munich Easy Health comes with some unique features which covers Ayurvedic, Homeopathic etc.- Easy Health Policy is available for individual within the age of 5 years (with 18 years as proposer) to 65 years with renewal throughout life.- Rs.2 lakh and Rs.50 lakh is the range in which one can choose the appropriate sum assured.- Coverage of Ayurvedic, Homeopathic, Unani and Sidha Treatment makes this as unique plan- The waiting time for pre-existing diseases is 3 years- It provides lifelong renewals with no sub-limits on room rents- There is no co-payment clause for any claim to be made- The insured claim settlement ratio is 63.03%. – Offers a No Claim Bonus up to 100%. – No medical check-up required for individuals below 46 years. Offers coverage for 144 listed day care procedures- Offers coverage for Pre and post hospitalization expenses

ICICI Lombard Complete Health

  • iHealth- ICICI Lombard Complete Health
  • iHealth Plan has a minimum entry age of 6 years.
  • There is no Maximum entry age.
  • The minimum sum assured is Rs.3 lakh and maximum sum assured is Rs.50 lakh
  • The waiting period for this plan is 2 years or 4 years for the pre-existing medical conditions
  • There is no co-payment clause for any claim to be made
  • There are no sub-limits on room rents
  • The insured claim settlement ratio is 87.38%.
  • No Claim Bonus helps to increase the sum assured by 10% for every claim free year up to a maximum of 50%
  • Provides coverage for day care procedures, pre and post hospitalization expenses and ambulance charges

Max Bupa Health Companion

  • The minimum entry age is 3 months (proposer should be 18 years).
  • There is no maximum entry age
  • The sum assured ranges from Rs.3 lakh to Rs.1 crore
  • This plan has a waiting period of 3 years or 4 years for pre-existing diseases, depending on the coverage option chosen
  • There is no co-payment clause for any claim to be made
  • There are no sub-limits on room rents
  • Insured claim settlement ratio is 55.16%- No Claim Bonus is available up to 100% in 5 years period
  • Offers an in-house claim settlement process
  • Offers coverage for pre and post hospitalization expenses

Bajaj Allianz – Health Guard

  • The minimum entry age is 3 months (proposer should be 18 years).
  • The maximum entry age is of 65 years
  • The sum assured ranges from Rs.1.5 lakh to Rs.50 lakh
  • Offers life-long renewal options
  • The insured claim settlement ratio is 73.59%
  • Offers sum insured reinstatement for similar illnesses too
  • Offers coverage for pre and post hospitalization expenses and all day care treatments
  • Offers a good network of 5700+ hospitals- Offers a 20% discount on co-payment

Organ donor expenses are also covered

Offers a 10% cumulative bonus benefit for each claim free year up to 100%

These policies are best suited for an individual as well as for the entire family. It is best to know the suitable premium for your age since premiums are based on age and will differ from person to person. You must also read the coverage offered and the exclusions list for each product before finalizing the best possible health insurance plan for yourself and your entire family. So don’t wait, go ahead and get yourself protected. This will also give you an added advantage of savings tax under Sec 80D of the Income Tax Act, 1961.

Meena Singh
Meena Singh |mumbai, maharashtra
Best Health Insurance Plans
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