Top Health Insurance Policies for 2021

It can be tricky to find out which health insurance policy is best for you. After all, there are so many policies out there from so many companies. It can be confusing. You can get into what is known as ‘analysis paralysis’. What it means is that when there are so many choices, you analyze the choices so much that your decision gets paralyzed. Yes, that is what happens when there are too many health insurance policies to pick from. After all, this is a decision that shall affect your life for a considerable time.

Thus, you need to make an informed decision.

In this article, we shall look at some of the top Health Insurance Plans in India under various categories.

The following premiums are calculated having in mind the profile of a 35 year old person and an assured sum of Rs. 5 lakh.

Iffco Tokio Individual Health Protector- Rs. 4747
SBI Retail Health- Rs. 5419
New India Assurance Mediclaim- Rs. 5420
Liberty Health E-connect- Rs. 5724
Aditya Birla ACtiv Assure Diamond- Rs. 6366
Universal Sompo Complete Essential- Rs. 6393
Tata AIG Medicare Protect- Rs. 6724
Liberty Supreme- Rs. 7584
Magma HDI Shield- Rs. 9047
Star Health and Allied Gain- Rs. 17770
Average premium of plans: Rs. 8295

For the cheapest health insurance plans for individuals, we have found these insurers to be the best providers. They give the best coverage at the lowest price across the country. Here’s a comparison of the four of them.

	IFFCO Tokio	SBI General Insurance	Liberty General Insurance	All India Assurance Company Ltd.
Sum insured	50000-200000	50000-500000	300000-750000	100000-1500000
Day care	Covered	Up to sum insured	Covered	Partially covered
Pre-hospitalization	45 days	60 days	30 days	30 days
Post-hospitalization	60 days	90 days	60 days	60 days
AYUSH Treatment	Covered	10% of sum insured of Rs. 15k of treatment	NULL	25% of sum insured
Health Checkup	1% of sum insured	Covered till Rs. 2500 (1 checkup free after 4 claim free years)	Free health checkup after 2 renewals	Free checkup after every 3 claim free years

 

Cheapest Health Insurance Plans for families

In this category we have found Universal Sompo General Health Insurance, Bajaj Allianz, Magma HDI General Insurance Company and Aditya Birla Health Insurance to be the best. These offer the best prices and top benefits.

	Universal Sompo General Insurance Co. Ltd.	Magma HDI	Bajaj Allianz	Aditya Birla Capital
Sum insured	300000-500000	20000-500000	300000-500000	400000-20,00,000
Day care	Covered	Up to sum insured	Covered	Covered for 586 procedures
Pre-hospitalization	30 days	30 days	60 days	30 days
Post-hospitalization	60 days	60 days	90 days	60 days
AYUSH Treatment	Upto sum insured	Covered	Rs. 20k per policy year	Depends on sum insured
Health Checkup	Delivery covered till RS. 15k	NULL	Depends on sum insured	NULL

 

Cheapest Health Insurance Plans for Senior Citizens

You may think that it is almost impossible to get a good health insurance plan for senior citizens if you are getting one for your parents when they are over 60 or 70, for instance. You may think that insurance premiums in these cases shall be sky-high. But that is not true. There are many plans available that are quite affordable. They won’t make a dent in your pocket, but will give you all the benefits you can ask for. Below we are going to compare two of the most suited plans for senior citizens.

	Star Health Insurance	Aditya Birla Capital
Day care	Covered	Covers 586 procedures
Pre-hospitalization	30 days	30 days
Post-hospitalization	60 days	60 days
AYUSH Treatment	Covered	Depends on sum insured
Health Checkup	Covered	Free annual check-up

 

FAQ

How to select the best health insurance plans?

Everyone’s needs are different, as well as your budget. Besides, there are so many plans to choose from. The best way to take your pick is by evaluating the coverage requirements, for both the short and long term. Start with studying the annual cost.

How are health insurance plans priced?

In India, these annual premiums for health insurance plans are price-based, and based on the sum insured. The more coverage there is, the more expensive the plan shall be. Add-on benefits increase the cost as well.

Is a cashless hospital option given by all health insurance providers?

Yes, all of them provide this.