A health insurance or mediclaim policy is a basic health indemnity cover that protects you and your family from unplanned hospitalisation expenses. To buy a health insurance online, just enter your basic details like age, gender, amount of coverage required and type of plan (individual or family floater) and get quotes from different insurance companies instantly. Compare and Select the quote that best suits your requirement, fill up the proposal form and make payment to get insured.
1. Cost of hospitalization:All the hospitalization expenses incurred due to illness oraccident injuries
2. Pre and posthospitalization expenses: Expenses incurred during a certain number of days before and after hospitalization as long as they are related to the illness/injury
3. Day care procedures: Surgeries and treatments that do not require 24- hour hospitalisation,due to technological advancements, are also covered
4. Ambulance cover: Transportation of the patient to hospital
5. Income Tax benefit: Save upto Rs 75,000 on tax (25,000 for self and family & additional 50,000 if senior citizen parents included) under section 80(D) of Income Tax Act
6. Organ donor expense: Medical expenses of organ donor during an organ transplant.
7. No Claim Bonus: Bonus given to the insured during renewal in case of no claims are filed in the previous policy year. The bonus can be in the form of an increase in the sum insured.
8. Cashless treatment: Can be availed when hospitalised in one of the network hospitals of insurance company
9. Sum insured recharge: Sum insured gets replenished on exhaustion of entire health cover
10. Alternative treatments (AYUSH Benefit): Alternate therapies like Ayurveda, Unaani, Siddha and Homeopathyget covered
11. Free health check-ups: Free health check-up facility given to the insured members upto pre -defined limit in policy.
12. Domiciliary hospitalization (Health homecare): Treatments availed at home on doctor’s recommendation
13. Convalescence Benefit: Lumpsum amount given to the insured person as a recovery benefit in case of a long duration of hospitalisationIt is important to realize that inclusions will vary from one provider to the next and from plan to plan.
1. Expenses due to pre-existing disease incurred during waiting period
2. Expenses occurred during the waiting period for the disease/ailments having mandatory waiting period
3. Cosmetic and Dental surgery expenses
4. Sexually transmitted diseases
5. Self-inflicted injuriesor adventure sports
6. Injuries caused due to warDetailed list of exclusions can be found in the policy wordings of the respective health insurance product.
1. Individual health insurance plan: This type of plan suits for individuals who chose to buy a policy for covering one individual.
2. Family health insurance plan: This type of plan provides coverage for the entire family which can include spouse, parents and children. The sum insured can be shared among all the family members or each family member can have an individual sum insured.
1. Sum insured: Determining the right coverage is the first step when opting to buy a health insurance. Individuals residing in metro cities may go for higher sum insured. If looking for family health insurance plans, sum insured above 10 lacs can be considered so as to cover multiple claims in a year from different members without exhaustion
2. Sub-limits: Policies that do not have sub-limits on room rents i.e. no higher limit on the rent charges are always recommended.
3. Co-payment: Policies that have co-payment option have lesser annual premiums because the insured individual pays a fraction of the hospital expenses and the rest is borne by the insurance company. Though the premiums are discounted but the co-payment amount could be a significant amount in case of high value claims.
4. Waiting period: Some insurers have shorter waiting periods for pre-existing ailments. Specific covers like maternity benefits are covered after 3 years under policies of few insurance companies. The shorter the waiting period, the better for the insured person.
5. Cashless hospital network: Insurance companies have tie-ups with hospitals across the country. One should always look for the insurer who has more number of hospitals under their cashless service.