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  • How Much Health Insurance Cover Do I Need?

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    Health Insurance is a saviour when you or your immediate family face any medical issues and need financial backup. It helps to save money on various expenses incurred from hospitalization and other Out Patient Department (OPD) expenses. However, there are various things that you should keep in mind before purchasing a health insurance cover. In order to evaluate how much health insurance cover an individual needs, the following factors should be taken into account:

    Factors to be Considered while Deciding Health Insurance Cover for you:

    • Premium Payment - Ability to pay premium is an important factor while deciding the extent of health insurance cover that you will need. When you choose a higher sum assured and more benefits, the premium will also increase. Individuals should assess their ability to pay the premium and then choose the type of health insurance policy they need. The health insurance policyholder can avail a limited cover at an affordable premium and increase the extent of cover at a later stage.
    • Annual Income Percentage - Annual income is directly proportionate to the health insurance cover. The annual income of the proposer is considered by insurance providers, in the process of determining the maximum health insurance cover he/she is eligible for.
    • Family History - Family history is another factor that affects your health insurance cover. The insurer will look at the history of health problems and diseases contracted by your family members in order to evaluate the risk of the insured contracting the same. Individuals falling under the high-risk category should get a comprehensive health insurance policy.
    • Age of the Insured - Another important factor that will affect your health insurance coverage is your age. Individuals who have bought health insurance policies while young, can avail a discount on premium. However, individuals over 45 years of age would have to pay more premium for health insurance coverage since the health risks involved are higher.
    • Type of Hospital - The health insurance cover is also affected by the grade of hospital where you choose to be hospitalized. Based on the grade of the hospital, different rates are charged for the same treatment. Thus, the amount of health insurance cover that is needed has to be determined by calculating the expenses that might be incurred from the hospital of your choice.

    Health Insurance Cover Based on Requirements:

    • Supplement to Health Insurance Cover offered by Employer - Most companies offer health insurance over to its employees. However, this will be in effect only until the last date of employment with the company. Since it is risky to depend only on the health insurance cover offered by your company, you also have to take an alternative health insurance policy for yourself and/or your family. This would help in the face of any unforeseen event such as a layoff, unemployment, job change, etc. which will cause the health insurance policy offered by the employer to cease. Availing a health insurance policy in addition to employer health insurance would help you to be prepared for any medical emergencies.
    • Tax Benefit - If you are availing a health insurance policy mainly for the purpose of availing tax benefits, then you need not take a comprehensive health insurance cover. You can evaluate the amount of tax deduction you wish to avail through the policy and then purchase one that meets this requirement.

    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.

    How Much Health Insurance Cover Do I Need? Reviews

  • Page 1 of 23 1 2 3 4 5
    • Reliance General Health Insurance
      "Good for health and family"
      0.5 5.0/5 "Blown Away!"
      RBL bank have suggested Religare health medical policy, then I availed health policy from them. I selected the medical cover of Rs. 5 lakhs with accidental cover of Rs. 5 lakhs. Every year I used to pay Rs. 2500 as premium for my health policy.
      Was this review helpful? 0
      , kanpur
      Reviewed on Nov 05, 2018
    • National Insurance Health Insurance
      "Good for Health"
      0.5 4.5/5 "Excellent!"
      I got National insurance health policy, I have the total cover for Rs. 5 lakhs its for entire family. They provide cash less hospital and pre existing disease cover, I am satisfied with the benefits of the policy. But I have not use this policy.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 02, 2018
    • ICICI Lombard Health Insurance
      "Need scope of improvement on claim process"
      0.5 4.0/5 "Great!"
      My I-protect family health plan is good, overall cover is for 15 lakhs for my entire family. They giving pre existing and cash less hospitalization cover. The service is also great but I heard they are not good in claim, they have some length process, they need some scope of improvement.
      Was this review helpful? 0
      , delhi
      Reviewed on Nov 01, 2018
    • Apollo Munich Health Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using the Health Insurance policy from the Apollo Munich. I pay a premium of 22000 per year. Full family cover . It offers an annual coverage for 5 lacs for the entire family. Overall I never had any issues with their services so far.
      Was this review helpful? 2
      , new delhi
      Reviewed on Oct 30, 2018
    • United India Health Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have a medlife insurance policy with United India insurance for long time and they charge me nominal premium i paid premium through on line like from debit card or from credit card they provide me good benefits and even they cover all the policy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 11, 2018
    • Bajaj Allianz Health Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      From Baja allianz health insurance i have taken health insurance , am satisfied with the premium amount which am making . I am getting benefits of Cashless hospitalization and pre disease cover . Even they listed the network of hospitals . Their customer representative explained the policy . Overall am satisfied with this policy.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 06, 2018
    • HDFC Ergo Health Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Health insurance from Hdfc ergo insurance . Am satisfied with the premium amount which am making the payment yearly . This policy gives good coverage with cashless hospitalization and pre disease cover . Even they have given network list of hospitals .
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 03, 2018
    • ICICI Lombard Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a health insurance policy with ICICI lombard, a premium of Rs 814 has to be paid every month for this insurance policy. I have no claim experience so far with this insurance policy. They cover Rs 10 lacs for accident and Rs 1.5 lacs for other coverage.
      Was this review helpful? 0
      , vadodara
      Reviewed on Sep 25, 2018
    • Chola Ms Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my health insured with Cholamandalam health insurance from last 2 years, i am happy with the coverage value of this insurance policy. I am not aware of the premium amount as my company pays it. It is a family coverage and they cover up to Rs 5 lacs for this insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 08, 2018
    • Religare Health Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken health insurance , am satisfied with the premium amount which am making . I am getting benefits of Cashless hospitalization and pre disease cover . Even they listed the network of hospital . Their customer representative explained the policy . Overall am satisfied with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 05, 2018
    • Oriental Insurance Health Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      From Oriental health insurance i have taken health insurance , am satisfied with the premium amount which am making . I am getting benefits of Cashless hospitalization and pre disease cover . Even they listed the network of hospitals . Their customer representative explained the policy . Overall am satisfied with this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 04, 2018
    • Religare Health Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      From Religare health insurance i have taken health insurance , am satisfied with the premium amount which am making . I am getting benefits of Cashless hospitalization and pre disease cover . Even they listed the network of hospitals . Their customer representative explained the policy . Overall am satisfied with this policy.
      Was this review helpful? 1
      , new delhi
      Reviewed on Aug 22, 2018
    • ICICI Lombard Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my health insured with ICICI Lombard from last 2 months, i am happy with the coverage value of this insurance policy and they cover up to Rs 4 lakhs. I have no claim experience so far with this insurance policy and i pay a premium of Rs 10000 for this insurance policy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 17, 2018
    • Bajaj Allianz Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my health insured with Bajaj Allianz from last 2 years, i am happy with the coverage value of this insurance policy. They cover up to Rs 5 lakhs for this insurance. My claim experience was good and they covered 40% of the billed amount and it was a cashless treatment.
      Was this review helpful? 1
      , pune
      Reviewed on Aug 09, 2018
    • New India Health Insurance
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      My health insurance is with New India. The customer services and response is good and there are no hassles and they provide 93% of the claim. I have taken a family floater, there is a coverage of five lakhs and I also have a top up cover of 15 lakhs.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 04, 2018
    • Star Health Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my health insured with Star health from last 3.5 years, i am happy with the coverage value of this insurance policy. I am not aware of the premium amount as my company pays it. My claim experience was good and they covered 100%. It was e-cashless treatment and it can cover up to Rs 12 lakhs.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 31, 2018
    • review Health Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken this loan almost long time back and the experience with them had been good. There has not been good cashless treatment facilities with the insurance policy but i have not used it so far. The insurance policy cover most of the hospitals with the hospitals in my locality. There ahs not been any claims made so far.
      Was this review helpful? 1
      , noida
      Reviewed on Jul 29, 2018
    • review Health Insurance
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I took health insurance from Iffco tokio health insurance . I have choose this insurance mainly because of convincing premium amount . I have closed this insurance as they told it cover pre disease coverage . During claim process , there is no proper response from the customer service and response .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jul 17, 2018
    • HDFC Ergo Health Insurance
      "Needs to improve"
      0.5 2.0/5 "Expected more"
      I have my health insured with HDFC ERGO from last 3 months, i have a family coverage of Rs 8 lakhs for this insurance. I pay a premium of Rs 14500 for this insurance policy. I am not happy with the coverage value as they do not cover pregnancy services in this insurance.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 31, 2018
    • Reliance General Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a health insurance with Reliance general from last 2 years, i am happy with the coverage value of this insurance policy as they cover up to Rs 6 lakhs for this insurance policy. I pay a premium of Rs 10000 for this insurance and i have no claim experience with this insurance.
      Was this review helpful? 1
      , lucknow
      Reviewed on May 28, 2018
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