Top Health Insurance Policies for 2021
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It can be tricky to find out which health insurance policy is best for you. After all, there are so many policies out there from so many companies. It can be confusing. You can get into what is known as ‘analysis paralysis’. What it means is that when there are so many choices, you analyze the choices so much that your decision gets paralyzed. Yes, that is what happens when there are too many health insurance policies to pick from. After all, this is a decision that shall affect your life for a considerable time.
Thus, you need to make an informed decision.
In this article, we shall look at some of the top Health Insurance Plans in India under various categories.
The following premiums are calculated having in mind the profile of a 35 year old person and an assured sum of Rs. 5 lakh.
Iffco Tokio Individual Health Protector- Rs. 4747
SBI Retail Health- Rs. 5419
New India Assurance Mediclaim- Rs. 5420
Liberty Health E-connect- Rs. 5724
Aditya Birla ACtiv Assure Diamond- Rs. 6366
Universal Sompo Complete Essential- Rs. 6393
Tata AIG Medicare Protect- Rs. 6724
Liberty Supreme- Rs. 7584
Magma HDI Shield- Rs. 9047
Star Health and Allied Gain- Rs. 17770
Average premium of plans: Rs. 8295
For the cheapest health insurance plans for individuals, we have found these insurers to be the best providers. They give the best coverage at the lowest price across the country. Here’s a comparison of the four of them.
|
IFFCO Tokio |
SBI General Insurance |
Liberty General Insurance |
All India Assurance Company Ltd. |
|
|
Sum insured |
50000-200000 |
50000-500000 |
300000-750000 |
100000-1500000 |
|
Day care |
Covered |
Up to sum insured |
Covered |
Partially covered |
|
Pre-hospitalization |
45 days |
60 days |
30 days |
30 days |
|
Post-hospitalization |
60 days |
90 days |
60 days |
60 days |
|
AYUSH Treatment |
Covered |
10% of sum insured of Rs. 15k of treatment |
NULL |
25% of sum insured |
|
Health Checkup |
1% of sum insured |
Covered till Rs. 2500 (1 checkup free after 4 claim free years) |
Free health checkup after 2 renewals |
Free checkup after every 3 claim free years |
Cheapest Health Insurance Plans for families
In this category we have found Universal Sompo General Health Insurance, Bajaj Allianz, Magma HDI General Insurance Company and Aditya Birla Health Insurance to be the best. These offer the best prices and top benefits.
|
Universal Sompo General Insurance Co. Ltd. |
Magma HDI |
Bajaj Allianz |
Aditya Birla Capital |
|
|
Sum insured |
300000-500000 |
20000-500000 |
300000-500000 |
400000-20,00,000 |
|
Day care |
Covered |
Up to sum insured |
Covered |
Covered for 586 procedures |
|
Pre-hospitalization |
30 days |
30 days |
60 days |
30 days |
|
Post-hospitalization |
60 days |
60 days |
90 days |
60 days |
|
AYUSH Treatment |
Upto sum insured |
Covered |
Rs. 20k per policy year |
Depends on sum insured |
|
Health Checkup |
Delivery covered till RS. 15k |
NULL |
Depends on sum insured |
NULL |
Cheapest Health Insurance Plans for Senior Citizens
You may think that it is almost impossible to get a good health insurance plan for senior citizens if you are getting one for your parents when they are over 60 or 70, for instance. You may think that insurance premiums in these cases shall be sky-high. But that is not true. There are many plans available that are quite affordable. They won’t make a dent in your pocket, but will give you all the benefits you can ask for. Below we are going to compare two of the most suited plans for senior citizens.
|
Star Health Insurance |
Aditya Birla Capital |
|
|
Day care |
Covered |
Covers 586 procedures |
|
Pre-hospitalization |
30 days |
30 days |
|
Post-hospitalization |
60 days |
60 days |
|
AYUSH Treatment |
Covered |
Depends on sum insured |
|
Health Checkup |
Covered |
Free annual check-up |
FAQ
How to select the best health insurance plans?
Everyone’s needs are different, as well as your budget. Besides, there are so many plans to choose from. The best way to take your pick is by evaluating the coverage requirements, for both the short and long term. Start with studying the annual cost.
How are health insurance plans priced?
In India, these annual premiums for health insurance plans are price-based, and based on the sum insured. The more coverage there is, the more expensive the plan shall be. Add-on benefits increase the cost as well.
Is a cashless hospital option given by all health insurance providers?
Yes, all of them provide this.
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