Skip to content
Home » Health Insurance Plans » Comparison of Top Health Insurance Plans in India in 2022

Comparison of Top Health Insurance Plans in India in 2022

  • by
Comparison of Top Health Insurance Plans in India

Health insurance provides medical insurance coverage in case of emergency hospitalization. It helps you to protect your hard earned money. Everyone should aim to get a good health insurance based on the need and have adequate medical coverage. One can also compare various health insurance plans, their features, exclusions which can help them to take the appropriate plan suitable to them. In this article, we would do a comparison of some of the Top Health Insurance Plans in India, their features, what is covered, limitations and any major exclusions.

What is Health Insurance Plan?

If someone falls ill and gets hospitalized, they need to pay hospital room rent, doctor consultation fees, ambulance charges and other hospitalization expenses. Due to sky rocketing of medical expenses, such hospitalization would throw high medical bill to you. This can put a dent in your hard earned savings. Here comes health insurance plan. In India, still people consider such plans as expenditure, whereas it is part of the basic financial plan.

Health Insurance plan provides medical coverage in case of hospitalization. It not only covers hospitalization expenses, but also pre and post hospitalization expenses, surgery expenses, ambulance charges and based on the plan, it can even pay out daily cash benefit (as there could be loss of income due to hospitalization).

This way, you need not worry about high medical bills. Hence it is important to have a health insurance plan to save your hard earned money.

If you are confused on choosing a good plan, check Various Tips on how to choose a Best Health Insurance Plan in India.

Benefits of Health Insurance Plan

Here are some of the major benefits of health insurance plans.

1) Medical coverage – Provides coverage for hospitalization expenses.

2) Cashless treatment – You need not hold any cash in case of any medical emergency. You can go for cashless treatment in the network hospitals.

3) Daily cash allowance – In case of hospitalization, one may lose income, hence health insurance plans provide daily cash allowance to compensate this loss

4) Lifelong renewability – Once you take health insurance, you can renew this for lifelong by paying renewal premiums. Such plans would be majorly useful in old age.

5) Free health checkups – Many health insurance plans are offering free health checkups either once in a year or once in two years.

6) Income Tax benefits – Premium paid towards Health Insurance quality for income tax benefits u/s 80D.

Apart from above, there are several other key benefits in Health Insurance Plans.

Comparison of Top Health Insurance Plans in India

Here is the comparison of various top health insurance policies, their features, what is covered, limits and any exclusions. One should consider the following points before selecting a good health insurance plan.

1) Opt health insurance plan that has Life long renewability. This way you don’t need to worry about renewals year on year and continue till the end of your life.

2) Consider a health policy that covers maximum period pre and post hospitalization expenses.

3) Take health insurance for atleast 10 Lacs and go for top up health insurance plans for 40 lacs to 1 Crore. This way you would have medical coverage for 50 lacs to 1 Crore overall.

4) Consider a plan that offers free restoration of sum insured in case this is utilized during the year. It would benefit in case of multiple times hospitalizations happen during the year.

5) Always consider health plan that offers no limits on room rent and with low co-payment.

6) Opting a plan that offers free health check-up every year would in turn helps you to check your health status on a regular basis free of cost.

7) Consider a plan that has high network hospital coverage. Even if you are moving from a Tier-1 to Tier-2 / Tier-3 city, you can still have treatment in quality hospitals.

8) Consider a health insurance plan that has ideal incurred claim ratio (settlement ratio) between 60% to 90%. Some health insurance companies have high claim ratio during Covid times, which you can ignore. You can check Latest Incurred Claim Ratio Settlement Ratio 2022.

Criteria Care Health Insurance Plan HDFC Ergo Optima Restore Niva Bupa Health Companion Star Health Comprehensive Plan
Min age of entry 91 days 91 days 91 days 60 days
Max age of entry No limit 65 years No limit 65 years
Cashless treatment Yes Yes Yes Yes
Lifelong Renewability Yes Yes Yes Yes
In-Patient Hospitalization expenses Yes Yes Yes Yes
Pre Hospitalization expenses 30 days 60 days 30 days 60 days
Post hospitalization expenses 60 days 180 days 60 days 90 days
Coverage 5 Lacs to 6 Crores 3 Lacs to 50 lacs 2 Lacs to 1 Crore 5 Lacs to 1 Crore
Restore benefit Upto 100% of SI Upto 100% of BSI Upto 100% of SI Upto 100% of SI
Room Rent Single Private Room No Limit Upto Sum Insured No Limit
Co-Payment Above 60 years – 20% NA NA Above 60 years – 10%
ICU Charges No Limit No Limit No Limit No Limit
Day care Procedures Yes Yes Yes Yes
Domiciliary hospitalization expense Upto 10% of SI Upto SI Upto SI Upto SI
Free Health check-ups Every Year Every Year Once in 2 years Every Year
Ambulance Charges 2,000 per hospitalization 2,000 per hospitalization 3,000 per hospitalization Yes
Network hospitalization coverage 16,500 13,000 Over 6,000 11,000
Covid-19 coverage Yes Yes Yes Yes
Pre-Existing Diseases Waiting period 48 months 36 months 48 months 36 months
Personal accident cover against death and total disablement benefit Nil Nil Nil Yes – with no additional cost
No claim bonus 10% increase in SI every year – Max 50% 100% increase in SI after 2 claim free years 20% increase in SI every year – Max 100% Nil
Cash Benefit / Daily Allowance Up to 5 days 800 per day – Upto 6 days 1,000 per day – Upto 30 days Yes – Max 7 days
Air Ambulance NA Yes – Rs 2.5 Lacs per hospitalization for SI of 5 Lacs and above NA Upto 2.5 Lacs per hospitalizati – Max 5 Lacs in a year
Expenses arising out of consumption of Alcohol No No No No
Treatment for Fertility No No No No
Incurred Claim Ratio (ICR) 55.15% 79.30% 56.09% 94.44%
Income Tax Benefits Yes Yes Yes Yes
Suresh KP

Leave a Reply

Your email address will not be published.