Top 10 Health Insurance Companies In India 2017

Health insurance or medical insurance is a popular insurance plan that offers comprehensive protection against treatments that are very expensive. This lets the patient get quality treatment without worrying about expenses.

It saves you from the heavy medical expenses. Similar to insurance policies of any kind, a medical insurance policy also lets you select a plan for which you pay a premium, and you get benefits in return for that.

When going to buy the health insurance policies, you are bound to have many doubts. Doubts like how much insurance do you and your family need, where should you buy the health insurance policies from and whether you can afford the health insurance policies. It can also get very daunting to decide from among the various health insurance policies.

Apollo Munich Health Insurance

The insurance plan is today the number one insurance plan because of the many benefits that it offers. It is one of the most acclaimed health insurance plans and also offers the cashless facility. You can get various benefits when you choose this plan like restore benefits, no claim bonus and also plans that cover your entire family under a single health insurance plan.

The other features that the plan offers is no additional loading at renewal, an option to get 100% no claim bonus and great sum assured on the premium amount paid. There are many senior citizen plans as well that cover self and the spouse for a lifetime and also give discounts on every claim free year.

Max Bupa Health Insurance Company

This is a JV between Max Indian limited and Bupa which is a UK based healthcare provider. Bupa is one of the fastest growing heathcare companies in the country and if offers many health insurance schemes. These have various sum assured plans and also many deals that come under budget.

There are different health plans for heart ailments as well as complete hospitalization. The features and the benefits offered by the health insurance plan are unique and hard to find in other health insurance policies. The insurance plan covers the basic coverage as well as coverage for newborn, vaccination and many more features.

The thing that works to the benefit of the policyholder is that the company lets settlement of claims without any third party interference. There is also a healthy relationship program for those who are with the company for many years and have renewed their policy without any break in between.

ICICI Lombard

This is a JV between Fairfax financial holdings limited and ICICI bank limited. It is one of the biggest general insurance companies in the private sector. They also provide many healthcare products that offer complete protection and health insurance. The policyholder can get maximum coverage through the health plans.

National Insurance Company Limited

This is a government-owned insurance plan and provides health coverage as well. Varishta mediclaim is one of the best health plans offered by the company, and it also has a good incurred claim ratio.

Bajaj Allianz Health Insurance  

A JV between Allianz SE and Bajaj Finserv, the company boasts of its expertise and stability. They offer mediclaim policies as well as policies for senior citizens. One can also opt for a family health insurance plan through the company. The company also lets you get a lump sum in case the policyholder has any critical illness or a hospital cash facility where a fixed amount is received each day.

Religare Health Insurance

This is today one of the leading health insurance providers and was started by the Fortis hospitals. They give access to various health care services and have gained a reputation having served happy customers. One can get quality treatment in 4000 hospitals in the country when they opt for the scheme.

Cigna TTK Health Insurance Company Limited

This is new to the health insurance market and was launched in the year 2014. It quickly made a place for itself in the health insurance plans because of its high payout ratio and various benefits

New India Assurance Company Limited

This is a government-owned entity and has been serving customers since the year 1919. The company is known for its mediclaim policies. It also has a high incurred claim ratio.

Oriental Insurance Company Limited

This is a government-owned health insurance plan that offers many health insurance products to choose from. One does not need to go through a premedical check up till the age of 60.

Star Health & Allied Insurance Company Limited

The company has a high incurred claim ratio and also has an in-house claim settlement process. This deals with cashless claims in case of hospitalization. The company offers various exciting products

There are many health insurance policies and selecting one among the thousands available is no easy task. You need to check various aspects of the claim settlement ratio, the past performance of the plan and reviews of the company before you decide one from the many health insurance policies. The list will help you choose from the top health insurance plans.

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7 Variants of Health Insurance Policies You Should Know

Have you ever wondered what your life would be without health insurance plan? You can’t, right? Life without health insurance is unimaginable. Having life insurance gives you that confidence by providing coverage in case of medical emergencies. Bharti AXA health insurance plans offer optimum insurance coverage so that your insurance needs are fulfilled.

When our physical activity is limited, we are exposed to develop various illnesses.  While most of the illnesses are curable, the medical expenses can burn a hole in our pocket. Our medical insurance needs are different so are the health insurance plans.

Here are the 7 types of health insurance. 

1.       Individual Health Policy

It is the most basic version of a health policy. It caters to an individual, as the name suggests. The insurance premium differs on the basis of the amount insured. For instance, a family having 5 family members, all the members can be covered on an individual basis for Rs. 3 lakh. In case of any medical emergency can claim hospitalization expenses up to the limit of Rs. 3 lakh specifically.

2.       Family Floater Policy

In a family floater plan, the coverage is offered to a family rather than individuals. The insured family shares the sum insured. Going by the example mentioned above, in case a family member is hospitalized and the incurred expenditure is of Rs. 6 lakhs, and then the coverage for the rest of the year will be Rs. 6 lakhs.

3.       Top-ups

Higher the health insurance covers are, higher the insurance premium is. At times, the adequate insurance coverage is above and beyond a common man’s budget. Top-ups enhance your insurance cover without any hike in your insurance premium. Top-ups are the covers that cover hospitalization charges, but it comes with a deductible.

4.       Critical Illness Policy 

Treatment for certain illnesses such as cancer can wash off your savings. It is followed by the inability to work which means one can’t go to work in order to earn some money. In critical illnesses, the basic insurance plan’s insurance coverage is not enough. Critical illness policies are formulated especially to meet such insurance needs. These are the plans that come with a fixed benefit that provides you a higher sum-assured in case you’re diagnosed with the policy listed illnesses.

5.       Unit Linked Medical Policy 

 The combo plans are one of the latest trends. Unit-linked health insurance policies are a combination of a unit-linked insurance policy and mediclaim. The insurance buyers have to pay the insurance premium and a partial amount is invested that fetches returns on investment and rest of the premium is paid towards the health insurance.

6.       Health Saver Policy 

 Health saver policies are like unit linked health policies. As per this policy, a partial premium amount goes towards the health coverage and the remaining part is invested in an investment or in a savings account. The biggest benefit of this policy is the savings part that can be used for the uninsured part of the hospitalization such as doctor’s consultation fee.

7.       Surgical benefit Policy

 The sky-rocketing expenses of surgeries can exhaust your insured amount, that it makes inefficient to cover your remaining (if any) medical charges. In such times, surgical benefit policies are of great help. The amount payable for surgeries is decided on the basis of your selected initial daily benefit.

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Advantages of Having a Star Health Insurance Plan

We have been growing up with the saying that “health is your wealth”.  With ever-increasing lifestyle diseases and sky-high medical costs, it has become vital to ensure the safety of your health. A medical emergency may cause a big hole in your pocket. Hereby, the financial experts say that having health insurance is a necessary asset to cease the financial burden.

Among the leading health insurance service providers, Star Health Insurance is a name worth taking when it comes to health insurance. When an ample amount of insurance companies introduced various health plans and got good responses from the customers, Star Health Insurance joined the race with unique star health insurance policies and blessed with an overwhelming response. Now it is one of the trusted names being taken into consideration! Let’s have a glance at the plans it offers:

Types of Star Health Insurance Plans

• ·         Family Health Optima Insurance Plan
• ·         Senior Citizen Red Carpet Health Plan
• ·         Start Comprehensive Insurance Plan
• ·         Medi-classic Insurance Plan
• ·         Start health Gain Insurance Plan
• ·         Super Surplus Insurance Plan
• ·         Star Unique Health Insurance Plan
• ·         Diabetes Safe Insurance Plan
• ·         Star Cardiac Care Plan
• ·         Star Wedding Gift Insurance
• ·         Star Micro Health insurance
• ·         Star Net Plus
• ·         Star Care Insurance Plan
• ·         Star Criticare Plus Plan
• ·         Star Family Delite Insurance Plan

Star Health Insurance plan Structure

Name	Members Covered	Pre-existing Illness Cover	Hospitalisation Cost	Co-pay
Star Health insurance Plans	2 adults + 2 children	Insured will have to serve the waiting period of 4 years	Pre-hospitalisation cost for 30 days and post-hoso0	20% co-pay is applicable for age between 61-65 years

Benefits of Health Insurance Plans of Star Health Insurance

• ·         In-house claim settlement directly, no intervene of third-party
• ·         Fast and smooth claim settlement
• ·         Avail medical facilities in more than 8200 network hospitals in India
• ·         Maintain personal health record digitally.

Why You Should Buy a Health Insurance Plan

Because Your Employer’s Cover is not Sufficient

With ever rising medical expenses, the need for a health insurance plan can’t be ignored. Though your employer provides health insurance, the coverage offered may not be sufficient to deal with the required need. Medical emergencies may leave you bankrupt if not financially protected. Moreover, your employer will not cover you once you retired or resigned from the organisation. Think about your old age when you’ll require frequent medical check-ups.

You may like to read : Latest rates for Star Medical Insurance – Check Online

Increase of Life-threatening Diseases

Various global and domestic organisations estimate that one out of every four Indians fall for life-threatening diseases before they enter the age 70. Unhygienic lifestyle led to the growing incidence of lifestyle disorders including cancer, stroke, cardiac arrest etc. which seek immediate attention. Health insurance policies offer regular check-ups to boost health awareness. Treatment for these illnesses is also expensive. In this scenario, health insurance is your only rescuer.

Tax Benefit

The most alluring benefit of a health insurance plan is you can save on tax. As per the Section 80D of Income Tax Act, the premium paid for your heal insurance plan is exempted from the tax deduction. As per the new budget 2017, the finance minister has increased the limit from Rs. 15,000 to 25,000. While the senior citizen can enjoy tax-benefit up to Rs. 30,000 on health insurance premium.

It Covers More than Hospitalisation

Health Insurance plans cover you for day care procedures and OPD, apart from the hospitalisation. Some plans cover vector borne diseases, maternity benefits that are the prominent concern these days. Also, you can add your newly born without paying any additional premium.

Health insurance has ample benefits, these are just a few of them. Considering these benefits, to deal with the ever rising medical inflation, one must have a health insurance plan. With Star Health Insurance, you can customise your need and plan accordingly.