Health Insurance in India | Top Health Insurance Company in India 2022

What is health insurance?

Accidents, diseases or disabilities square measure has never reported. These abrupt health issues will cause you a giant loss. For this reason it’s suggested to order it beforehand. But, however does one do it? This can be wherever the policy comes in a kind of some insurance compensates you for numerous medical and surgical expenses. It’s a coverage provided by the non-depository financial institution to safeguard you from surprising medical expenses which will occur within the future.

With rising attention prices, the requirement for insurance plans is additionally increasing. This insurance claims will be settled in 2 ways that it’s either reimbursed to the insurance firm or paid on to the care supplier. Also, edges received on insurance premiums square measure tax free types of Health Insurance Plans. The Health insurance companies offer different types of policies mentioned below:

1. Serious illness

This insurance covers the risk of any critical illness. It protects you from any serious illness that may occur in future. The premium you pay for this insurance gives you a cover for a certain amount of insurance. In case of illness, the insurance company claims up to the sum assured. For example, you buy a health policy for which you pay a premium of INR 10,000 and the coverage you get is INR 1000000. So, when you suffer from any critical illness in future, the insurance company will cover your medical expenses up to an assured amount of INR 1000000. Various critical illnesses covered by insurance companies include cancer, major organ transplant, stroke, first heart attack, kidney failure, paralysis, multiple sclerosis, etc.

2. Medical insurance

It is a type of insurance where the hospitalization expenses are reimbursed to the insured. Also, the price of medicine or surgery incurred by you or your family members for diseases covered by this insurance is reimbursed. These policies are commonly known as “Mediclaim policies”.

3. Individual Mediclaim

This is a simple type of health principles. Under individual mediclaim policy, you will get compensation for hospitalization expenses up to a certain assured limit. Let’s understand with an example. If you have three family members and each of you gets a separate cover of INR 100000 under this policy then all the three policies are separate. Each of you can claim a separate INR 100000 if required.

4. Family Floater Plan

Under the Family Floater Plan, the sum assured covers the medical expenses of the entire family or certain individuals who come under its ambit. The premium paid under this plan is relatively less than the premium paid under private medical plans. Let’s understand with an example. Assume a family of four gets a family floater plan and is allowed to claim INR 1000000. Now, anyone in that family can claim up to Rs 1000000 as mediclaim. Also, if an individual has claimed INR 400000 in a particular year, the mediclaim amount for other family members will be reduced to INR 600000 for that particular year. From next year, the amount will be refreshed again to INR 1000000.

5. Unit Linked Health Plans

Unit Linked Plans or ULIPs are plans that are linked to investments where one can earn income. So, when you choose a unit linked health plan you add a health insurance to that investment. With this insurance, you earn returns at the end of the insurance term depending on the market performance. Although these plans are expensive, they are recommended to those who have good market knowledge

6. Group Mediclaim

A group health policy or group mediclaim covers regular employees and their dependents in case of hospitalization due to certain diseases or injuries.

Best Health Insurance Company in India 2022

  1. New India Assurance Health Insurance
  2. Oriental Health Insurance
  3. Apollo Health Insurance
  4. ICICI Lombard Health Insurance
  5. Bajaj Allianz Health Insurance

1. New India Assurance Health Insurance

There are numerous types of health insurance offered by New India Assurance Company. Almost all panays have cashless benefits for you.

  • Arogya Sanjeevani Policy (Cashless Benefit Available)
  • Cancer Treatment Expenditure – Group
  • Corona Protection Policy,
  • The New India Assurance
  • Group Mediclaim 2007 (Cashless Benefit Available)
  • Group Mediclaim Policy for Workers
  • Jan Arogya Bima
  • Janata Mediclaim (Cashless Benefit Available)
  • New India Asha Kiran Policy (Cashless Benefit Available)
  • New India Cancer Guard Policy (Cashless Benefit Available)
  • New India Flexi Floater Mediclaim Policy (Cashless Benefit Available)
  • New India Flexi Group Mediclaim Policy (Cashless Benefit Available)
  • New India Floater Mediclaim (Cashless facility available)
  • New India Mediclaim Policy (Cashless Benefit Available)
  • New India Premier Mediclaim Policy (Cashless Benefit Available)
  • New India Sixty Plus Mediclaim Policy (Cashless Benefit Available)
  • New India Top Up Mediclaim (Cashless facility available)
  • State Health Insurance Scheme (Cashless facility available)
  • Senior Citizen Mediclaim (Cashless Benefit Available)
  • Standard Group Janata Mediclaim (Cashless Benefit Available)
  • Tertiary Care Insurance (Individual)
  • Universal Health Insurance APL (Cashless Benefit Available)

2. Oriental Health Insurance

Oriental Health Insurance helps you choose a plan that meets your insurance expectations. There are various plans offered to you that cover a wide range of benefits like cashless treatment, daily cash allowance, attractive discounts on premiums, quick claim settlement, etc.

Oriental Health Policies offer insurance cover to the following categories of population –

a. Persons with Disabilities (PWD)

b. People living with HIV/AIDS

c. A person suffering from mental illness

Oriental has the following health insurance products here –

  • Happy Family Floater Policy-2015
  • Mediclaim Insurance Policy (Individual)
  • PNB-Oriental Royal Mediclaim-2017
  • OBC-Oriental Mediclaim Policy-2017
  • Mediclaim Insurance Policy (Group)
  • Eastern auspicious stay cash-secure
  • Oriental Super Health Top-Up
  • Pravasi Bharatiya Bima Yojana-2017
  • Health of privileged seniors
  • Arogya Sanjeevani Policy-Oriental Insurance
  • Oriental Super Health Top Up
  • PBBY – 2017
  • OBC 2017
  • GNP 2017
  • Mediclaim Policy (Individual)
  • Group Mediclaim Policy
  • Health of the Elderly Advantaged (HOPE)
  • Happy Family Floater Policy 2015
  • Overseas Mediclaim Policy (E&S)
  • Jan Arogya Bima Policy
  • Oriental Happy Cash Policy
  • Oriental dengue virus
  • Overseas Mediclaim Policy- Business and Holiday
  • Oriental Critical Illness Policy
  • Corona Kabach and Group Corona Kabach
  • Oriental Insurance Bank Saathi Policy – Group
  • Oriental cancer protection
  • Oriental Corona Protection Policy-Oriental Insurance

3. Apollo Health Insurance

Apollo Health Insurance is packed with a variety of plans to suit your needs. It does not help you meet your medical expenses without financial assistance. You can buy a health insurance plan for your family or individual.

  • Optima Secure Health Insurance Policy
  • Optima Restore Health Insurance Policy
  • My: Health Protection Insurance Plan
  • My:Health Koti Suraksha Insurance Plan
  • MY: Health Women Protection Plan
  • My:Healthcare Super Top-Up Plan
  • Critical health insurance policy
  • Ican cancer insurance.

4. ICICI Lombard Health Insurance

A reliable health insurance plan protects you from sudden medical expenses. It pays your bills or pays the healthcare provider directly on your behalf. The health plan offered by ICICI Lombard covers the cost of hospitalization, day-care procedures, home medical care (residential hospitalization), ambulance charges etc. Income Tax Act, 1961.

Below are some of the health insurance plans mentioned by ICICI Lombard:

  • ICICI Lombard Complete Health Insurance
  • Health booster
  • Personal protection
  • Arogya Sanjeevani policy
  • Corona shield policy
  • Simple Safety Insurance

5. Bajaj Allianz Health Insurance

With Bajaj Allianz, you can check out various health insurance quotes online and find the one that best suits your budget. Also, you not only get cover for medical expenses, but also benefits like cashless treatment, quality healthcare, tax benefits, comprehensive coverage, incremental bonuses, free health checkups, etc.

Below are the types of Bajaj Allianz Health Insurance Plans you can choose from:

  • Personal health insurance
  • Family health insurance
  • Critical illness insurance
  • Critical illness insurance for women
  • Health Insurance for Senior Citizens
  • Health Unlimited Plan
  • Top up health insurance
  • Personal accident insurance
  • M Care Health Insurance
  • Hospital cash
  • Arogya Sanjeevani policy
  • Comprehensive health insurance
  • Tax gain
  • Star Package Policy
  • Ensure health
  • Global Personal Guard

Indeed, health is an essential resource. And getting a health insurance is important to maintain a healthy life. This creates a safety net in case of any unexpected medical expenses. However, it is advisable to choose the health policy wisely.

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