In today's era, where medical expenses are touching the roof, it becomes the highest priority to find the right health insurance policy. Sometimes it becomes tricky to select the best policy, especially the one which offers maximum benefits with the cheapest premium in health insurance. There are a lot of insurance companies that understand the needs of their customers and hence design their plans accordingly. What usually all of us want is a high-sum insured health plan with affordable premiums.
For an individual, it is often difficult to understand the technical terms, pricing, and coverage details. The experts of hello policy have conducted detailed research, considering more than 75 health insurance plans. This will help you to identify the cheapest premium in health insurance quickly.
There are a lot of health insurance plans which offer the cheapest premium in health insurance without compromising any benefits. The companies have classified these plans into several categories which are described below -
As the name clearly suggests, plans that provide benefits of the sum insured to a single individual. The below companies offer an affordable premium in health insurance across the country.
As per our research, HDFC Ergo - my health Sur aksha silver smart is the most affordable health insurance plan for individuals that offers the cheapest premium in health insurance. It provides a sum insured of Rs 3 lakhs - Rs 5 lakhs. For a sum insured of Rs 5 lakh, it offers a premium of Rs 8744 to a healthy man of 35 years old.
Along with the affordable premium, HDFC Ergo offers some other benefits also such as there is no limit on hospital room charges and if required you can get the facility of cashless home treatment also. With this, the company also takes care of all your medical expenses till the age of 65 years. To get a stress-free recovery, the company allows you to pay the health insurance premium in installments. Annual health check-ups are also covered under this plan.
This provides a sum insured of Rs 3 lakhs to 5 lakhs with a premium of Rs 6523. The salient features under Universal Sompo Health Insurance Plan are somehow unique. It provides treatment expenses for hospitalization and nursing homes. Under this plan, surgeon costs, boarding charges, oxygen, blood, and other necessary expenses are covered. Along with this, the company provides a facility for inpatient dental treatments and OPD expenses. If you are looking for maternity expenses coverage then considering Universal Sompo is a must for you.
The sum insured under this plan is Rs 5 lakhs to Rs 1 Crore, for which a policyholder needs to pay the premium of Rs 8277. As compared to some other insurance companies, this premium with such a huge sum assured can be considered as the cheapest premium in health insurance. Along with the affordable premium, a policyholder can avail numerous other benefits such as no capping on room rents and free health checkups. You can use this health plan for your dependent children of age 3 months to 25 years. Along with this, the star health individual plan is beneficial for newborn baby covers. It also provides a sum assured of Rs 2.5 lakh to 5 lakh for Bariatric Surgery.
Family Floater health insurance plans are designed to protect your family members. The members included under this plan are you, your partner, dependent parent, and dependent children of a certain age which vary among different companies. Your complete family will be covered with just a single health insurance plan. Best family floater health insurance plans that offer affordable premiums are listed below.
Under this plan, you will get a sum insured of Rs 2 lakh to 2 crores. Well, the premium changes on the basis of certain factors. If a healthy male of 35 years old and his wife aged 34 years provides a sum assured of Rs 5 lakh then they need to pay the premium of Rs 12,648. It covers all the expenses of chronic illness from the beginning. Also, there is a facility for a complete reload of the sum insured. With the Aditya Birla Platinum plan, the policyholder does not need to worry about the room rent as there is no capping on room rent.
The sum assured under this insurance plan ranges between Rs 3 lakhs to Rs 50 lakhs. The plan offers some excellent salient features such as complete restore benefit, renewal incentives, complimentary health check-ups, and daily hospital cash. With just a premium of Rs 12,392, this plan comes under the category of cheapest premium in health insurance. This health plan covers hospitalization expenses, daycare procedures, emergency road ambulance, organ donor expenses, and also there is no sub-limit on room rent. This plan does not cover AIDS/HIV, self-inflicted injuries, and adventure sports injuries
With a sum insured of Rs 4 lakhs to 6 crores, you will need to pay the minimum premium of Rs 10,885. It offers you the benefits of pre-hospitalization, in-patient hospitalization, and post-hospitalization covers. Along with this, annual health check-ups and lifelong renewability are its key features. You will also get automatic restoration of the sum insured, a private room in the hospital without any upper cap, and a free second opinion.
It is a medical insurance policy in which health coverage is provided to persons whose age is between 60 to 75 years. This plan is specifically designed by the companies to provide help to older individuals and provide cover for their medical emergencies. There are a number of benefits that almost every company offers to its customers. Here we are describing the top that provides the option for an affordable premium.
One of the perfect plans for elderly people of 60 years or above. Policyholders do not need to perform any pre-screening before purchasing the health insurance policy. This feature is not present in many of the top insurance plans. With a wide range of sum insured from Rs 1 lakh to Rs 25 lakhs, it allows you to pay the lowest premium. The premium for 5 lakhs of the sum is just Rs 21,240. Along with this, the star red carpet health insurance plan includes features like cashless hospitalization, pre and post-medical expenses, in-patient hospitalization expenses, and covers modern treatments.
National Insurance, one of the most trusted brands in the insurance sector, has been serving us for years. Its Varistha health plan covers different types of medical expenses for senior citizens with two major sum insured options of Rs 1 lakh and 2 lakhs. Again, this plan provides relief to the policyholders with the cheapest premium of Rs 6,187. In this plan, along with the regular covers, you will get extra coverage for strokes that give permanent symptoms, severe cancer, kidney failure, major organ transplant such as heart, lung, liver, kidney, pancreas, etc. Also, the company provides expenses for open-chest CABG. The top features of Varistha mediclaim policy include free lock period, policy withdrawal, grace period, cashless facility, and critical illness survival period.
Oriental individual mediclaim plan comes under the category of one of the affordable healthcare plan options with a sum insured ranges from Rs 1 lakh to Rs 10 lakh. Along with the premium of just Rs 31,257, the Oriental healthcare plan provides numerous benefits to the individual. You will get domiciliary hospitalization, cashless service, and other tax benefits. The policy covers specified diseases or injury expenses such as accidental injury, stroke, cancer, prostate, knee replacement, eye diseases, hepatobiliary disorders, and chronic renal failure. Along with this, a policyholder will get coverage for the hospital room, ambulance charges, anaesthesia, blood, oxygen, and OT charges. There are certain exclusions under this plan such as surgery for eyesight correction, vaccination, self-inflicted injuries, and ayurvedic treatments.
As you want to keep yourself and your family safe, it is always important to make a wise selection of a family insurance plan. Hellopolicy experts are here to help you. Consider the below points to make sure you are buying a perfect health insurance cover -
Prepare a list of basic health coverage that different policies are offering. You will find several common offers such as in-hospitalization, pre-hospitalization, and post-hospitalization expenses, ambulance charges, daycare expenses, etc. Suppose if you are living with senior citizens then you should consider a plan that provides coverage for serious health issues that are usually seen in elders. On the other hand, if you are planning for a baby then consider a plan that covers the expenses of a new-born baby.
As the lifestyle is changing day by day you will see fluctuation in the cost of medical treatments. There are different insurance companies that offer the facility in which a policyholder can request for increasing the sum insured. Also, there are plans and companies which can reward you an increased sum when you have no claim bonus at the time of renewal of the policy. So, never forget to ask for flexibility in sum insured.
Usually, most companies offer policy renewal until 60 to 65 years of age while some offer the facility of lifelong renewal. Make sure to consider maximum renewal age while buying a health insurance plan because you want protection when it is most needed. It is a general fact that with the increase in age there is always an increase in risks.
It is true that all the insurance providers work as per the instruction of the insurance regulator but you might find differences in the way a company functions. Make sure to ask about the claim settlement process, clear all your concerns regarding the process with the respected insurance provider. Go for a company that is offering a hassle-free claim settlement process so that you will not need to file up the papers. Just go to the hospital for a checkup and you will get cashless treatment easily.
If you are attracted by the cashless hospitalization facility given by any insurance company then do not just buy it immediately. Make sure to check other factors also. And in this list, checking the network of hospitals is crucial. Choose a company that has a high number of network hospitals so that at the time of emergency you can go to a nearby hospital.
After comparing thousands of premium quotes, hellopolicy has conducted deep research and analysis to provide you with the exact information about different plans. You need to select the one that fits best with your requirement. Suppose if you are looking for a plan for an individual then why waste time on family plans. Come to hellopolicy, ask the experts, and we will show you a detailed picture of several individual plans. Make sure to calculate all your own medical costs and then you can pick a plan that perfectly covers your medical expenses.
While, if you want to secure your whole family, you should choose a family insurance plan or a family floater plan. Don’t worry, you will get complete guidance at hellopolicy with a detailed comparison. Depending on the size of your family, you can select the plan which provides the cheapest premium in health insurance. If you want to get coverage for the immediate family then go for a family floater plan. While picking a family floater plan for your family make sure to check whether it includes coverage for parents and grandparents. This is because many family floater plans do not include any cover for grandparents and parents. Cautiously compare the cost and benefits of all the plans and select the best one to keep your family safe and healthy.