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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.
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.
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.
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.
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)
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)
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||Rs. 15,194/y*|
|Star Family Health Optima||Rs. 15,417/*|
|HDFC ERGO my:Health Suraksha Silver Smart Family Floater Plan||Rs. 16,107/*|
|Care Health Insurance||Rs. 14,746/*|
|MaipalCigna Prohealth Plus||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.
Every medical insurance plan that you intend to buy must have the following features:
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.
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
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
Congenital diseases and defects
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.
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.
Here is a general list of documents required to purchase health insurance in India: