HomePersonal FinanceHealth InsuranceComparison of 40+ Health Insurance Plans - Which Plan to Purchase?

Comparison of 40+ Health Insurance Plans – Which Plan to Purchase?

Health Insurance – Good health is the most valuable asset that we have, but nowadays with increasing levels of stress, negligible physical activity and changing lifestyle our vulnerability to diseases is increasing at an alarming pace.

The cost of healthcare is rising everyday indirect costs is more than the cost of your treatment, like – hospital room rent, nursing expenses, post discharge expenses, recuperating expenses, ambulatory charges etc account for a major part of the overall cost incurred. Lack of sufficient savings or a suitable health policy may force you to compromise on the quality of medical treatment.

Health insurance is a must as it saves money and covers unexpected calamities. Life is unpredictable, insurance can make it safe and secure from bearing huge loss.

Despite of fact that it is extremely important to purchase health insurance still 30% of Indian population don’t have health insurance policy. This is as per NITI Aayog report of 2021. The major chunk of 70% people that are covered with health insurance rely on the health insurance coverage given by employer. In case of job loss they are outside of coverage of health insurance. Not only that most of the people do not purchase job loss cover policy. Although you are covered by health insurance policy under employee scheme you should still purchase separate health insurance policy.

comparison Health Insurance Policy

Health Insurance in India is highly affordable it can be purchased with a click of a button. This policy carries the assurance and freedom from insecurities that threaten life now and then.

If you are planning to purchase health insurance you should compare health insurance policies to get the best deal.

Here are important factors to compare while purchasing health insurance policy including actual plan comparison.

Features comparison Health Insurance Policy

Features that you should compare while buying health insurance policy online and offline are given below.

Premium

You should compare health insurance policy premium offered by various insurance companies. The premium of policy should be lower. However, premium is not only factor for consideration.

Cashless Facility

Cashless facility is must nowadays. You should consider plan that offers cashless facility. Cashless facility means facility where medical services are offered directly to customer without any deposit/up front payment. Entire claim amount is settled in cashless manner by insurance company.

Post Hospitalization Coverage

Most of the time we end up doing additional expense after hospitalization. This means you should purchase the plan that offers post hospitalization coverage.

Waiting Period

In case of pre-existing diseases coverage is not provided from day one. This is why health insurance plans come with a waiting period instead of offering cover since day 1. During this waiting period, no claims are admissible. Hence, you should choose a health insurance policy with a minimum waiting period.

Network Hospitals

Availing treatment at network hospitals is very convenient as they allow cashless treatment to the insured. This is why you should check the number of network hospitals an insurance company has. It is recommended to choose an insurance company that has a high number of network hospitals.

Add-on Benefits

Add-ons are additional benefits that you can include in your health insurance policy, for extensive coverage. You can choose them voluntarily by paying an extra premium at the time of policy purchase.

Top 5 Best Health Insurance in India 2022

Benefits of Comparing Health Insurance Plans

Extremely Easy – Comparing health insurance plan is extremely easy you can compare policy with a click of button on the insurance aggregator website.

Save Money  –  You can compare health insurance policy online check the most low-priced health insurance policies online, which the agents might not recommend you to buy.

Knowledge about product – When you do comparison of policy by self, you will get knowledge about key features of health insurance policy that helps you a lot while filing a claim.

Taking Informed decision – As you are doing comparison of health insurance policies before buying you are taking informed decision.

Health Insurance Comparison

We are herewith comparison of health insurance products available in different categories on the basis of some crucial variables to help you pick the most suitable ones.

The factors taken here for the comparison are life coverage, premium, cashless facility, maternity benefits, ambulance charges, post hospitalization coverage, waiting period, daycare coverage, network hospitals and medical checkup requirements.

These factors are extremely important to check while buying a health insurance policy.

Individual health insurance policy

This is the policy where policyholder himself is covered in times of health problems. Comparison of policy under this category is given below.

individual health insurance plan

individual floater health insurance plan

 

 

Premium in above example is for Sum Assured 5 Lakh for 30 year old Non Smoker person.

Family floater health insurance

This is the policy where sponsor owns the policy and the people covered under it are called its members. You can protect your full family under this med claim policy. Comparison of policy under this category is given below.

family floater health insurance policy

Tax benefits Under Medical Insurance:

Health insurance also helps to save tax under section 80(D) of income tax act. This way you get dual benefit with health insurance as you save on tax as well as save on medical expenses.

We hope that above chart will help you to arrive at decision that which health policy is best as per your need.

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Shitanshu Kapadia
Shitanshu Kapadiahttp://moneyexcel.com/
Hi, I am Shitanshu Kapadia founder of moneyexcel.com. I have written 1875+ articles on this blog. I am PGDBA(marketing), engaged in blogging for 10 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. The purpose of this blog is to spread financial awareness and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.
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