Top 7 Best Health Insurance Plans in India in 2017
Medical costs are rising day-by-day. If you are hospitalized, the hospital bill would make you shock and ruin your financial life. To overcome this, one should consider taking a good health insurance plan in India. Health insurance plan provides risk coverage in case of hospitalization. There are several health insurance providers offering variety of medical insurance products. Which are the Best Health Insurance Plans in India in 2017? What are the major features of such Top Health Insurance Plans to be taken in 2017? I have listed 7 Best health insurance Plans in India for individuals as well as for family to be considerd in 2017.
You may like: How to choose a best health insurance plan suitable to you?
What points should you consider before buying a good Health Insurance Plan?
While there are several parameters to be considered while selecting a good health insurance plan in India, a few major ones are listed below. We have considered most of them in identifying best health insurance plan.
- Premiums
- Co-pay requirements
- No claim bonus
- Waiting period for pre-existing medical conditions
- Waiting period for specific diseases
- Incurred Claim Settlement Ratio of Insurer
- Maximum Age Period
- Hospital Network
- Critical Illness Riders
Best Health Insurance Plans in India in 2017 for Individuals
1) Religare Health Insurance – Care Plan
Religare Care Health Insurance Plan comes with several unique features.
- Religare’s Health Insurance Policy “Care” comes with an entry age of 91 days with no upper age limit. This means any individual can buy this at any time.
- The minimum sum assured is ₹ 5 Lakhs and maximum sum assured is ₹40 lakh.
- Waiting period of 4 years for pre-existing medical conditions.
- There is no co-payment to be done for any claim to be made.
- There are no sub-limits on room rents.
- Insured claim settlement ratio is 61.1%.
- No Claim Bonus available from 50% to 150%.
Regular features of this plan
- Coverage for day care procedures
- Coverage of Pre and post hospitalization expenses
- Covers Ambulance charges
2) Apollo Munich – Easy Health
Apollo Munich Easy Health comes with 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.
- The minimum sum assured is ₹ 1 Lakhs and maximum sum assured is ₹50 lakh.
- Coverage of Ayurvedic, Homeopathic, Unani and Sidha Treatment makes this as unique plan.
- The waiting time for pre-existing diseases is 3 years.
- Lifelong renewals.
- There is no co-payment to be done for any claim to be made.
- There are no sub-limits on room rents.
- Insured claim settlement ratio is 63%.
- No Claim Bonus available from upto 100%.
- No need for medical check-up for individuals age of below 46 years.
Regular features of this plan
- Coverage of 144 listed day care procedures
- Coverage of Pre and post hospitalization expenses
Also Read: Religare Care Health Insurance Plan – Should you consider this health insurance plan?
3) ICICI Lombard Complete Health – iHealth
ICICI Lombard Complete Health – iHealth Insurance plan has high Claim settlement ratio.
- Minimum age of entry is 6 months (proposer should be 18 years). There is no Maximum age of entry.
- The minimum sum assured is ₹ 1 Lakhs and maximum sum assured is ₹ 10 lakh.
- 2 years or 4 years for pre-existing medical conditions, depending on the coverage option chosen.
- There is no co-payment to be done for any claim to be made.
- There are no sub-limits on room rents.
- Insured claim settlement ratio is 87%.
- No Claim Bonus is available which is 10% increase in sum assured for every claim free year up to 50%.
Regular features of this plan
- Coverage for day care procedures
- Coverage of Pre and post hospitalization expenses
- Covers Ambulance charges
4) Max Bupa Health Companion
Max Bupa has several health insurance plans, one good plan among them is Max Bupa Health Campanion.
- Minimum age of entry is 3 months (proposer should be 18 years). There is no Maximum age of entry.
- The minimum sum assured is ₹ 2 Lakhs and maximum sum assured is ₹ 100 lakh.
- Waiting period of 3 years or 4 years for pre-existing diseases, depending on the coverage option chosen.
- There is no co-payment to be done for any claim to be made.
- There are no sub-limits on room rents.
- Insured claim settlement ratio is 55%.
- No Claim Bonus is available upto 100% in 5 years period.
- They would process the claims from in house and there is no TPA involved.
- Coverage of Pre and post hospitalization expenses
Best Health Insurance Plans in India in 2017 for Family
5) Apollo Munich Optima Restore
Apollo Munich has a few health insurance plans, however Optima Restore health insurance is prominant among them.
- Minimum age of entry is 5 years (proposer should be 18 years) and maximum age of entry is 65 years.
- The minimum sum assured is ₹ 3 Lakhs and maximum sum assured is ₹ 50 lakh.
- Total of 6 family members are covered as part of the family floater insurance plan.
- Waiting period of 3 years for pre-existing diseases coverage.
- There is no co-payment to be done for any claim to be made.
- There are no sub-limits on room rents.
- Insured claim settlement ratio is 63%.
- Daily cash benefit in case of hospitalization.
- Rider available with this plan that provides additional benefit pay outs on the diagnosis of a critical illness.
- No Claim Bonus is available which is 50% of basic sum assured for every claim free year.
Regular features of this plan
- Coverage for day care procedures
- Coverage of Pre and post hospitalization expenses
- Covers Ambulance charges
6) Religare Care (Family Floater)
Religare Care Health Insurance Plan comes with several unique features.
- Minimum age of entry is 3 months (proposer should be 18 years) and no maximum age entry for adults. However for children, the maximum age of entry is 25 years.
- The minimum sum assured is ₹ 3 Lakhs and maximum sum assured is ₹ 60 lakh.
- Total of 6 family members are covered as part of the family floater insurance plan.
- Waiting period of 4 years for pre-existing diseases. 2 years for specified ailments.
- There is no co-payment to be done for any claim to be made.
- Room rent sublimits are 1% of the cover amount per day.
- Insured claim settlement ratio is 61%.
- No Claim Bonus is available from 50% to 150%.
- One of the unique plan which provides for private room compensation along with one free medical check-up every year.
Regular features of this plan
- Coverage for day care procedures
- Coverage of Pre and post hospitalization expenses
- Covers Ambulance charges
Also Read: Good Health Insurance Plan for Senior Citizen or for your Parents
7) Royal Sundaram Lifeline Elite
This is a little high premium health insurance plan suitable for high networth individuals who intend to take plan of ₹ 25 Lakhs and above.
- Minimum age of entry is 3 months (proposer should be 18 years) and no maximum age entry for adults. However for children, the maximum age of entry is 21 years.
- The minimum sum assured is ₹ 25 Lakhs and maximum sum assured is ₹ 150 lakh.
- Total of 5 family members are covered as part of the family floater insurance plan.
- Waiting period of 2 years for pre-existing diseases.
- There is no co-payment to be done for any claim to be made.
- There are no sub-limits on room rents.
- Insured claim settlement ratio is 53%.
- No Claim Bonus is available from 20% per year subject to max of 100%.
Regular features of this plan
- Coverage for day care procedures
- Coverage of Pre and post hospitalization expenses
- Covers Ambulance charges
Conclusion: Above listed policies are best health policies for individuals as well as for family. I have not provided the premium because it depends on the entry age, sum assured and other conditions which differ from person to person. Also, I have provided only basic points such as sum assure, entry age, pre-post hospitalization expense etc. But you are advised to read fine print of the policy before buying.
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Suresh
Top 7 Best Health Insurance Plans in India in 2017
22 comments
Add a comment ↓Insurance lene ke kitne Dino baad calim Kr skte hai
after 24 hr for emergency, you are under cover, and 30 days for illness and 2 year for some kind of operative probelms and 4 year for pre-exist diseases, injuries due to sports, tracking activities and dental diseases and more are not covered.
family health plan 2 adults, 2 children my age 12-2-1984
best familly health plan all coverage
Never go with any plans of Apollo Munich Health Insurance. They are not even honoring their policy document wordings when a claim is raised and interpret it to their convenience and make a fool out of their customers. They would ensure that you would knock on the Insurance Ombudsman’s door for your claim to be upheld. Better stay away.
I required a Family Floater Plan of Rs 5 lac insured Cover. My age is 37. Me and my Spouse to be covered.
I had shortlisted the following:
HDFC Ergo
Religare
ICICI Lombard.
Which one of this would be best given the claim settlement Ratio and customer experience for settling claim.
If i want to Obtain a Govt Company Health Insurance Policy, which one would you advise?
Hi Suresh,
Planning to take Health insurance for Family, 2 Adults , 2 Kids,
which is best Health insurance?
Better to go for health insurance with lowest premium so long one is unsure of whether his claim will be approved or not
this is not always right.
pls check the waiting period of the diseases and whether accidents and sports related injuries are covered…religare doesn't cover sports related injuries…always check the exclusion list..go through it carefully and basis your need the good company which will cover your expense during admission is the best…
hello Suresh Ji,
I have HDFC ERGO family floater (2 adults+ 2 kids) for 3 years, so far no claim. Now should I switch to R