Forbes Advisor Editor’s Pick – Forbes Advisor INDIA

Health insurance heavily reduces the hefty healthcare expenses that might incur when you or your loved ones require proper medical treatment at the time of need. Insurance companies in India provide several types of health insurance plans that cater to various health insurance needs. 

For this reason, we’ve chosen health insurance plans that fall in the general health insurance category, senior citizens, women, youth, and pocket-friendly policies — to help you make the right decision.

Let’s explore the best health insurance plans to look forward to in 2024.

Aditya Birla Activ Fit Health Insurance

Aditya Birla Activ Fit is a comprehensive health insurance plan designed for age-groups starting from 5-year-olds and above with an insured sum starting from INR 2 lakh to INR 2 crore. The policy can be taken individually or on a family floater basis, and avail of benefits of financial protection, health and wellness, fitness benefit, as well as cashbacks and discounts. The insurance company has tied up with more than 9,000 network hospitals spread across the country.

Major benefits under the health policy include in-patient hospitalization, pre-and post-hospitalization, road ambulance service, day-care treatment, modern treatment, domiciliary expense, to name a few. The policy offers reward points by accessing live workouts and gym sessions on their app, as well as cashback and discounts up to 25% on various lifestyles, travel and entertainment. The waiting period is, however, extensive for pre-existing diseases which is 36 months, and 24 months for specified procedures.

STAR Health’s Senior Citizens Red Carpet Health Policy

STAR Health’s red carpet health insurance policy is specifically designed for senior citizens aged 60 years and above, and guarantees sum insured starting from INR 1 lakh to INR 25 lakh, depending on the individual or floater basis plan opted by the insured. What’s attractive about this insurance policy is, insured need not take a pre-medical screening while purchasing the policy. Also, the waiting period is just one year for pre-existing disease. The insurance company has a network of more than 12,000 hospitals spread across the country.

What’s more, besides providing benefits of in-patient hospitalization, pre-and post-hospitalization, and road ambulance service, the policy also covers treatment for cataract surgery up to a certain limit. However, diseases diagnosed before 30 days of taking the policy aren’t covered under the policy. Also, the insured has to co-pay 30% of the cost of overall treatment. 

HDFC ERGO My: Health Women Suraksha

HDFC ERGO’s health women suraksha plan has been designed keeping in mind the health insurance coverage required by women, which otherwise is not covered under a general plan. It provides financial cover for women only who are 18 years and up to 65 years of age, and guarantees sum insured up to 1 crore — depending on the premium opted by the insured. This policy is valid across 13,000 network hospitals within the country.

The policy provides coverage against minor and major ailments, illnesses, surgeries, pregnancy complications related to women. Overall, a single policy covers 40 critical ailments, and is valid across international borders. However, there’s a four year waiting period for pre-existing disease, and one year waiting period for pregnancy and newborn complications.

Care Plus Youth Health Insurance plan

Care plus youth health insurance plan is created specifically for young people who are five years and up to 25 years old. The policy guarantees sum insured starting INR 3 lakh up to INR 25 lakh, depending on the premium opted by the insured. What’s attractive about this plan is, there’s no requirement for co-pay, which means that all expenses are borne by the insurer, and the insured doesn’t have to pay anything out of their pocket. 

The policy covers OPD costs including doctor, dentist, and ophthalmic consultations, as well as in-patient hospitalization, modern treatment, AYUSH treatment, pre-hospitalization cost, to name a few. Youngsters are not required to undergo pre-screening while signing up for the policy. Remember, like any other health insurance policy, the plan has an initial waiting period of 30 days.

Niva Bupa Health Pulse Policy

Niva Bupa health pulse policy is a low-cost health insurance plan designed to meet the health insurance requirement of people who cannot afford high cost premiums. The low-tier plan guarantees sum insured up to 4 lakh, while the high-tier plan covers expenses up to INR 25 lakh depending on the premium amount opted by the insured. 

Nonetheless, the plan doesn’t differentiate much between availing of benefits such as in-patient treatment, room rent, pre-and post-hospitalization, organ donor transplant, etc. Remember, the low-tier plan requires you to co-pay 20% of the overall treatment cost. Insured can opt to add up to 150% of the sum insured amount under enhanced refill benefit. 

Bottom Line

On the heels of rising healthcare costs, health insurance plays a crucial role to provide proper treatment to your loved ones facing critical illnesses and medical-related emergencies. It reduces the financial burden to you and your family as the insurer will cover the expenses required for the treatment so that you don’t have to dig deep into your pockets. Insurance policies come with wider medical coverage such as in-patient hospitalization, pre-and post-hospitalization, road ambulance, day-care treatment, preventive health check, modern treatment, domiciliary expenses. However, it is important to carry out careful study while choosing the best health insurance on the basis of an individual or family floater basis plan.