• Benefits of Health Insurance

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    p>In this day and age of rising medical inflation, health scares have unfortunately become a norm rather than an exception. Opting for a health insurance policy, therefore, has become imperative. The health insurance sector is India is complex and growing. Most health insurance policies will cover expenses related to pre and post hospitalization, day care and ambulance charges among others. It is important to note that many insurance providers in the country offer health insurance products which offer a wide variety of benefits beyond cover for hospitalization related expenses.

    Benefits of health insurance:

    The benefits of health insurance are listed below:

    • Online buying facility

      Gone are the days when customers had no other option to buy insurance policies except through agents. Policies can now be easily bought online courtesy specialized insurance brokers who can make a comparative analysis (merits and demerits) of various products offered by different insurance companies for the benefit of customers who can choose the best health insurance plan most suitable to their requirements.

    • Different premium payment scenarios

      Hitherto, the premium payments structures most health insurance policies in India were, by and large, the same. However, many companies such as Bharti AXA and Star Health among others have set up a ‘Zone based premiums’ for towns and metros. Consequently, health insurance policies are costlier in metros compared to towns given the higher medical expenses which may be incurred in the former.

    • Coverage

      In the recent past, insurance companies are providing a wide range of products to cater to all kinds of requirements. For instance, many health insurance companies are increasingly offering family floater policies which provide cover to the entire family under a single umbrella. As a result, family members share the sum assured and can therefore, avail of the benefit in case of any untoward occurrence within the policy term.

    • Renewal

      As opposed to traditional health insurance policies which had a fixed age limit, many current policies entail greater flexibility in terms of renewal in that customers can now renew their coverage at any time throughout their lives.

    • No claim bonus

      In the recent past, insurance companies are increasingly offering their customers higher amounts of no claim bonus as a strategy to retain them. Some insurance providers are offering a ‘no claim bonus’ for up to 100 % of sum insured.

    • OPD expenses

      While according to traditional health insurance products, customers have to be hospitalized for at least 24 hours to claim reimbursement, the current insurance providers provide cover for outpatient department (OPD) expenses as well. As a result, the insured do not necessarily have to be admitted into a hospital to avail of the benefits. As of now, Star Health and ICICI Complete health provide health insurance covering OPD expenses.

    • Restoration

      In some health insurance policies, the sum insured is reinstated if the insured exhausts the coverage amount in a year. For instance, the restoration benefit can also be used in cases where an insured has to bear expenses for any medical condition which is different from the condition for which a claim was made.

    • Maternity cover

      In this day and age, several health insurance providers are offering maternity cover as opposed to traditional insurance companies. Major companies such as Star Health and Max Bupa among others even provide cover for vaccination expenses of the new-born.

    • Sub-limits

      Experts have asked customers to have a clear picture of sub-limits before signing up for a health insurance policy. Most traditional policies entail a sub-limit such as cap on doctors’ fees, boarding or room rents and other charges related to operation theatre, latest policies offered by insurance providers such as Tata AIG and Apollo Munich do not have such sub-limit clauses.

    • Cashless hospitalization services

      Several leading insurance providers in the country have a network of hospitals which can offer cashless hospitalization services for the benefit of customers. Customers, therefore, do not have to unduly worry about immediate cash requirements in case of any emergencies. In several cases, the third party administrators pays the bill to the hospital or institute.

    • Tax benefits

      Policyholders can avail of some tax benefits under section 80D (deduction for premium paid in addition to separate deduction for buying policies for parents who are senior citizens) and 80DD of the Income Tax Act 1961. In all, a policyholder can avail of tax benefit of up to Rs.55,000 under section 80D. The sum insured is not considered as ‘income’ and therefore, exempt from tax. However, several conditions have to be met to claim deduction as listed below:

      • Policyholder should either be HUF or individual
      • Payment of premium by any other means except in the cash mode
      • Payment proof
    • Portability

      Policyholders can now avail of a facility wherein they can switch their current insurance policy to another insurance provider seeking higher quality of services and benefits on offer.

    GST rate of 18% applicable for all financial services effective July 1, 2017.

    Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

    Benefits of Health Insurance Reviews

  • Page 1 of 29 1 2 3 4 5
    • Max Bupa Health Insurance
      "Good Protection for Health"
      0.5 4.0/5 "Great!"
      Max Bupa gives the medical cover around Rs. 2 lakhs its covers only for me. I paid around Rs. 2500 as premium amount for one year. They do have tie up with good hospital. I hope Max Bupa is providing tax benefits and no claim bonus on the health policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • Religare Health Insurance
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      I have corporate insurance from Religare Health, I didn't check the benefits, I believe I got medical cover upto Rs. 3 lakhs for my entire family. I got Religare e card. If in case of any emergency if I admit more than 24 hours I can get the reimbursement. I would suggest to enable daily check on insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • HDFC Ergo Health Insurance
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      Taken a medical insurance policy with HDFC ERGO GENERAL INSURANCE. Still now I have not taken any claim with my medical insurance. The plan and benefits are really good. I have been paying a premium of rs 5,000 per year. The customer service and response is good.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Feb 14, 2018
    • HDFC Ergo Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I had a Health Insurance in HDFC ERGO GENERAL INSURANCE. I got extra ordinary benefits in single policy. I will get regular alerts regarding policy premium. The customer care is also good and well responsive. They intimates my policy renewal date to renew the policy on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 12, 2018
    • New India Health Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I do have the Health insurance policy with the New India assurance company. I would like to say that the customer service is good one with them and the benefits are also good one for me with them. I am happy with the New India assurance company.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 10, 2018
    • Bajaj Allianz Health Insurance
      "Average service"
      0.5 2.0/5 "Expected more"
      I have taken a health insurance with Bajaj,the service was good with Bajaj. The benefits is single benefits and the payment will be deducted from my credit card. Also they provided me with some good offers from top hospitals but still I never claimed any service from Bajaj,it was a average service from Bajaj health insurance service.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 09, 2018
    • HDFC Ergo Health Insurance
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      Taken medical insurance policy with HDFC ERGO GENERAL INSURANCE. There plan benefits are really very good. The policy coverage and cashless treatment policy were very good with HDFC ERGO GENERAL INSURANCE. Customer service is very good and claim when explaining the policy.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 08, 2018
    • ICICI Lombard Health Insurance
      "Overall, its good"
      0.5 4.0/5 "Great!"
      I am having the health insurance policy with the ICICI Lombard general insurance company and the medical coverage value is good like it provides shadow for my needs. Claim benefits are good one with the ICICI lombard general insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 07, 2018
    • Star Health Health Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Took my health insurance with STAR HEALTH & ALLIED INSURANCE. Still now I have not experienced about the claim benefits. But the plan and policy benefits are really good. I am paying rs 4,000 to rs 5,000 per annum. Overall all the experience with the STAR HEALTH & ALLIED INSURANCE is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 06, 2018
    • Religare Health Insurance
      "Great"
      0.5 5.0/5 "Blown Away!"
      I have been owning a health insurance policy with Religare. This policy is renewed every year and the premium amount to be paid is rs 5000 which is done through Internet banking. I am very much satisfied with the plan benefits and policy coverage.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 06, 2018
    • New India Health Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The new India assurance given me benefits for my whole family. The offers are good and the documents have been collected and it was easy process. The payments where through online,it was a good experience with New India health insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 06, 2018
    • New India Health Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the health insurance policy with the New India Assurance company from the last three years of time. Service aspects are good one and the plan benefits are good. There are no complaints with the New India Assurance company.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 02, 2018
    • Royal Sundaram Health Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a health insurance policy with Sundaram insurance from last 1 month and it is a good insurance policy to use. I have to pay a premium of Rs 6800 every year. I do not have claim experience so far and i have not taken any cashless treatment. I have a coverage of Rs 3 lakhs and I am with the plan benefits of this policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 02, 2018
    • HDFC Ergo Health Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Hdfc health insurance service was good,the benefits was good with Hdfc it was for my whole family. But I have not claimed any service from Hdfc and the payments was through online. It was a average service from Hdfc health insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 02, 2018
    • HDFC Ergo Health Insurance
      "Health insurance with HDFC"
      0.5 3.0/5 "Satisfactory"
      I hold a health insurance with HDFC ERGO GENERAL INSURANCE. I got this insurance with the credit card of HDFC. The premium amount is 3800 yearly. Just now i took the policy and i am not aware about much benefits with this policy from HDFC ERGO.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 30, 2018
    • Royal Sundaram Health Insurance
      "Health insurance with ROYAL SUNDARAM"
      0.5 5.0/5 "Blown Away!"
      With ROYAL SUNDARAM GENERAL INSURANCE, i have taken a health insurance with a premium of 2571. I am not sure about the other benefits of the policy. Just now i have taken this insurance policy. Yearly i have to renew the policy. I made the payment through credit card.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 29, 2018
    • Apollo Munich Health Insurance
      "Health Security"
      0.5 5.0/5 "Blown Away!"
      Its a good product I got my Apollo Munich, the agent suggested best health policy. I have paid the premium around Rs.7000 for Life restore plan. I have taken the sum assured Rs. 5 lakhs its covers only for me. They are providing cash less facilities, financial security for unforeseen events. After one year they are providing 50% of medical benefits.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 29, 2018
    • ICICI Lombard Health Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have a corporate health insurance with Icici for the benefits for my whole family and the offers and benefits are good with Icici. The payments where through online but I never got any claim experience with Icici corporate health insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 25, 2018
    • Bajaj Allianz Health Insurance
      "Average service"
      0.5 3.5/5 "Pretty good"
      It was a good experience with Bajaj health insurance service. The benefits was for my whole family and the payments were generally through online. Bajaj use to update me regarding their new schemes and offers. It was totally a nice service from Bajaj health insurance department.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 25, 2018
    • Religare Health Insurance
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I have a insurance policy with Religare and it is a good insurance policy to use. This policy has to be renewed every year and i pay a premium of Rs 8000 for this insurance. I do not have claim experience. I am satisfied with the benefits and their policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2018
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