Medical Insurance

Medical insurance should be mandatory these days. The COVID-19 pandemic has created one of the most difficult times in our life. Everyone’s life and livelihood have been affected in some way or another. While the development of a suitable vaccine is on-going, one must protect themself selves and family from such a threat.

Be it the times of pandemic or not, you must buy health insurance for yourself and your entire family. The cost of hospitalization and quality medical treatment is rising on an annual basis. It is better to be well-equipped with a medical insurance policy.

A comprehensive medical insurance policy will act as your best line of defense in times of a medical emergency.

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What is Medical Insurance Policy?

A medical insurance policy is a type of health insurance plan that is designed to provide you financial aid for meeting the expenses arising out of emergency hospitalization. For example, if you or anyone of your family members happens to meet with an accident that requires immediate surgery or hospitalization, the cost of medical treatment will be covered by your medical insurance plan.

The best part is, you can avail of a large medical cover for your entire family under a single umbrella medical insurance policy. The entire package will come at the cost of an annual premium amount. The medical cover can be utilized via cashless or reimbursement mode.

If you are looking for a medical insurance policy in India, you have come to the right place. We at Coverfox, have a will help you buy the best medical insurance policy in India.

Benefits of Medical Insurance

Your medical insurance plan is not only a life savior but also a money saver, and much more. Here are the core advantages of having a medical insurance policy. Get complete details on Coverfox!

  • With a comprehensive medical insurance plan, you can get your entire family covered at the cost of an affordable premium. This will protect your family and your savings. Buy a family floater medical plan today on Coverfox.

  • Premium paid towards a medical health insurance policy is eligible for a tax deduction of up to Rs. 75,000 under Section 80D of the Income Tax Act, 1961.

  • Are you a fan of alternative medicine? Do not worry, your medical insurance covers the treatment expenses for Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy.

  • You can easily enhance the cover of your existing medical insurance plan with rider options. Choose from a wide range of rider options such as personal accident cover, critical illness plan, etc, online on Coverfox.

  • With the cashless facility, you need not worry about paying the hospital bill by yourself. The insurer, along with the Third Party Administrator, will directly settle the bill with the hospital.

Benefits of Buying Medical Insurance Plan Online

Nowadays, you need not visit the bank branch to buy a medical insurance policy. You can do the entire process online on Coverfox. It is completely paperless, time-saving, and hassle-free.

Here are the key advantages of buying medical insurance online.

1. As mentioned above, the entire process of buying/comparing and renewing medical insurance can be done online on Coverfox. You do not have to go anywhere or any place.

2. With the online process on Coverfox, there is no agent or intermediary involved. This means that you get more discount when you buy online.

3. On Coverfox, you can easily compare health insurance and insurance companies in India. All of it at the click of a button.

4. Do you find it difficult to calculate the premium payment amount? Worry not! You can utilize the free premium calculator on Coverfox.

5. Still, confused about medical insurance? To help you with the same, we have created an entire online library of videos, articles, blogs, infographics, FAQs on medical insurance.

Best Medical Insurance Plans March 2021

Here is a list of the best medical insurance plans in India for 2021. Get full details online on Coverfox.

Health Insurance Plan Sum Insured
Universal Sompo Individual Health Plan Rs. 10 lakhs
United India UNI Criticare Health Plan Rs. 1 lakh - Rs. 10 lakhs
Tata AIG MediCare Plan Rs. 2 lakhs - Rs. 10 lakhs
SBI Health Insurance Arogya Premier Policy Rs. 10 lakhs - Rs. 30 lakhs
Star Health Family Optima Insurance Plan Rs. 1 lakh - Rs. 25 lakhs
Reliance Health Insurance Critical Illness Plan Rs. 5 lakhs - Rs. 10 lakhs
Royal Sundaram Life Supreme Plan Rs. 5 lakhs - Rs. 50 lakhs
New India Assurance Senior Citizen Mediclaim Policy Rs. 1 lakh - Rs. 15 lakhs
National Health Parivar Mediclaim Plus Up to Rs. 50 lakhs
ManipalCigna ProHealth Plan Rs. 2.5 lakhs - Rs. 1 Crore
Max Bupa Companion Individual Health Plan Rs. 3 lakhs - Rs. 1 Crore
Liberty Health Connect Supra Top-up Plan Up to Rs. 1 Crore
IFFCO Tokio Health Protector Plus Plan Rs. 2 lakhs - Rs. 25 lakhs
HDFC ERGO my:Health Suraksha Silver Smart Plan Rs. 3 lakhs - Rs. 50 lakhs
Future Generali Criticare Plan Rs. 5 lakhs - Rs. 50 lakhs
Edelweiss Health Insurance Plan Rs. 5 lakhs - Rs. 1 Crore
Digit Health Insurance Rs. 2 lakhs - Rs. 25 lakhs
Chola Healthline Plan Rs. 2 lakhs - Rs. 25 lakhs
Care Health Care Plan Rs. 4 lakhs - Rs. 6 Crores
Bharti AXA Smart Health Assure Plan Rs. 3 lakhs - Rs. 5 lakhs
Bajaj Allianz Health Guard Plan Rs. 1.5 lakhs - Rs. 50 lakhs
Aditya Birla Activ Assure Diamond Plan Rs. 2 lakhs - Rs. 2 Crores
Raheja Health QBE Insurance Rs. 1 lakh - Rs. 10 lakhs
Oriental Individual Mediclaim Health Plan Rs. 1 lakh - Rs. 15 lakhs

The information given above has been sourced from the official website of the respective insurance providers. (Last updated on 19.3.2021)

Best Medical Insurance Plans 2021 with Coverage

Here is a list of the best medical insurance plans in India for 2020 with coverage. Get complete details online on Coverfox.

Medical Insurance Plans Maximum Sum Insured Renewal Option
Aditya Birla Active Assure Diamond Plan Rs. 2 Crores NA
Universal Sompo Essential Privilege Plan Rs. 10 Lakhs Lifetime Renewability
Care Health Plan (formerly known as Religare) Rs. 6 Cores Lifetime Renewability
Max Bupa Health Companion Individual Rs. 1 Crore Lifetime Renewability
Star Family Health Optima Plan Rs. 25 lakhs Lifetime Renewability
HDFC ERGO Optima Restore Rs. 50 lakhs Lifetime Renewability
HDFC ERGO my:Health Suraksha Rs. 75 lakhs Lifetime Renewability
Royal Sundaram Lifeline Supreme Rs. 50 lakhs Lifetime Renewability
Star Health Senior Citizen Red Carpet Plan Rs. 25 lakhs Lifetime Renewability
ManipalCigna Prohealth Plus Rs. 50 lakhs Lifetime Renewability

The information mentioned above has been sourced from the official website of the respective insurance companies. (Last updated on 12.10.2020)

Best Family Medical Insurance Plans in India

As the name suggests, a family medical insurance policy covers each member of your family (spouse, dependent children, parents, and in some cases, parents-in-law). Family floater medical insurance plans provide the same features and benefits as an individual medical policy.

Plan Name Features Basic Premium (Annual)
Max Bupa Health Companion Family Floater
  • No max entry age
  • Lifelong Renewal
  • Domiciliary Treatment
  • NCB
  • Health Check-up
  • AYUSH Benefit
  • 48 months waiting period
  • Rs. 15,194/y*
    Star Family Health Optima
  • Health Check-up
  • Restoration Benefit
  • Daycare procedures
  • Additional sum insured for road accident
  • 48 months waiting period
  • Rs. 15,417/*
    HDFC ERGO my:Health Suraksha Silver Smart Family Floater Plan
  • No room rent capping
  • No max entry age
  • Restoration benefit
  • Free annual health check-up
  • Cashless home healthcare
  • 586 daycare procedures included
  • AYUSH Benefit
  • 36 months waiting period
  • Rs. 16,107/*
    Care Health Insurance
  • Annual Health Check-up
  • NCB
  • Lifelong renewability
  • Second medical opinion
  • No room rent capping
  • Maternity Cover Post 2 years
  • 48 months waiting period
  • Rs. 14,746/*
    MaipalCigna Prohealth Plus
  • Free health check-up
  • Single Private Room
  • Maternity Cover
  • Wider Coverage
  • Pre-existing diseases are covered
  • Rs. 16,063/*

    All information has been sourced from the official website of the respective insurers. (Last Updated 12.10.2020)

    The premium mentioned above is subject to change depending on the number of family members, no pre-existing diseases, no smoking/alcohol habits, and the sum insured.

    Features of Medical Insurance

    Every medical insurance plan that you intend to buy must have the following features:

    • A large sum insured will take care of all the hospital bills and expenses arising out of emergency medical treatment. Ensure that pre/post-hospitalization, daycare procedures are also under the scope of cover.
    • Organ donation is important for your survival and even more if you are a receiver. Make sure that organ donation expenses are covered in your medical insurance.
    • Sometimes, a hospital might be far from your residence and the cost of transportation can take a toll on your wallet. Look for medical plans that provide emergency ambulance and evacuation services.
    • A medical emergency comes unannounced. It might cost you your entire savings. Always avail cashless mode of payment in case of emergency or planned hospitalization.
    • Look for a medical insurance plan that covers the expenses arising out of Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy line of treatment.

    Types of Medical Insurance Plans in India

    Here are the common types of medical insurance plans in India. Get full details on Coverfox.

    • Individual Health/Mediclaim - This type of medical insurance plan covers you only, it is for a single individual.

    • Family Health/Family Floater Policy - This type of medical insurance plan provides comprehensive cover for you, your spouse, parent, and dependent children.

    • Coronavirus/COVID-19/Corona Kavach - Corona Kavach and Corona Rakshak; these plans take care of medical expenses arising out of Covid-19 hospitalization.

    • Senior Citizen Health Insurance Cover - This type of medical insurance plan is for individuals above the age of 65 or India's senior citizens.

    • Maternity Insurance Cover Policy - These policies cover hospitalization expenses arising from maternity, cesarean delivery, pregnancy, pre, and postnatal and newborn baby care.

    • Critical Health Insurance Policy - This is a payout medical insurance plan that provides a lump-sum payment in case you have contracted life-threatening sickness/illness.

    Medical Insurance Inclusion

    The following instances are covered under your medical insurance policy:

    • Pre and post hospitalization expenses for 60/180 days, along with daycare treatments for less than 24 hours.

    • Medical check-up and health report, only on an annual basis.

    • All forms of accident cover and accident-related emergency.

    • Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy

    • Organ Donor Expenses

    • Domiciliary Cover and Daily Hospital Cash

    • Ambulance cover and emergency evacuation

    Medical Insurance Inclusion

    The following instances are not covered under your medical insurance policy:

    • Pre-existing illness and diseases

    • Self Inflicted harm or suicidal tendencies

    • Participation in extreme sports and adventure activities, including defense activities

    • Warlike events - Biological, Chemical or Nuclear

    • STDs/AIDs/Venereal Diseases

    • Congenital diseases and defects

    • Cosmetic/Plastic/Dental Surgery

    Compare Medical Insurance

    Before you decide to buy a medical insurance plan, you should compare multiple plans online based on the following key features.

    • Select a medical insurance plan that comes at the cost of an adequate premium. No to low, neither too expensive.

    • Go for a plan that offers cashless as well as reimbursement mode of claim settlement.

    • Look for maximum sum insured. Make sure each family member is adequately covered.

    • Check the complete list of network hospitals.

    • Look for a company with a higher claim settlement ratio.

    Cost of Medical Treatment

    What affects the cost of medical treatment? Is medical insurance really necessary? Read ahead and find out:

    1. Medical inflation and the Covid-19 pandemic have made medicines plus hospitalization very expensive.

    2. You can protect the health of your entire family.

    3. You will be financially protected and stress-free.

    4. Get cashless treatment and protect your savings.

    5. A medical plan will take care of your hospital bills and medical expenses.

    Documents Required for Buy Medical Insurance Policy

    Here is a general list of documents required to purchase health insurance in India:

    • Proof of Age - KYC/each family member
    • Proof of Address - KYC/each family member
    • Proof of Income - Bank Statement/Form 16/Salary Slip
    • Application Form
    • Medical Check-up/Report, if required
    Close