Top Medical Insurance Policies in India

This page lists a few top individual health insurance plans, family floater health insurance plans, senior citizen health insurance plans, and critical illness insurance plans. Make sure to assess your coverage needs and pick a suitable policy.

The launch of the much-anticipated Ayushman Bharat National Health Protection Mission has made health insurance a more accessible service for a vast majority of the Indian population.

Ayushman Bharat has gained immense popularity in a very short span of time for it has minimum exclusions and it offers benefits that most insurance providers don't. Purchasing a comprehensive health insurance policy often means sifting through a long list, analysing the benefits of each plan, and then deciding on one for its maximum inclusions and minimum exclusions.


Health Insurance Policy Ratings:

There are certain factors based on which health insurance plans can be gauged on their effectiveness, like availability of additional riders to enhance the base plan. In the year 2018, the score that insurance providers received for effectively and efficiently settling claims stands at 30%, which is a huge leap from the earlier score. This score has been bifurcated between claims settlement and claims complaints, wherein claim settlement has received a 25% and the latter has received a 5% score.

Individual health insurance: This is taken by customers who wish to protect themselves from financial uncertainty in case they are ever hospitalized due to the onset of a sudden and unforeseen illness, or an accident at work or on the road.

Family floater health insurance: This is taken by customers who wish to cover themselves from potential financial uncertainty that could arise from any member of their family requiring hospitalization. Some people, who are unaware of this category, choose to take individual policies for each member of their family – this is an expensive and unnecessary practice.

Senior citizen health insurance: This is taken by and for senior citizens, and has a lot of additional benefits and financial coverage for health issues and injuries that are common among senior citizens. A senior citizen would benefit a lot more taking a senior citizen health insurance plan, than he or she would by taking a regular individual health insurance plan.

Critical illness health insurance: Regular hospitalization and treatment charges, while incredibly expensive, cannot even be compared to the amount charged for treatment of critical illnesses. There are specific health insurance policies that offer huge pay outs on the diagnosis of pre-defined critical illnesses.

What are some of the important points based on which best health insurance plans are determined?

The following important elements determine the potential of a typical health insurance policy:

  • Coverage against an extensive list of medical disorders and conditions: You should always look at the number of illnesses and disorders while selecting a comprehensive health insurance policy. Cutting down on illnesses covered under a medical policy to lower the premium amount is not advisable, in fact you should get maximum inclusions in your health cover, and minimum exclusions.
  • Life cover: The most ideal health insurance coverage is one that can be renewed throughout the lifespan of the insured. A health insurance policy essentially defeats its own purpose if it does not cover illnesses one contracts in their old age.
  • Cashless claim settlement: Ensuring cashless claim settlement is a thoroughly important, decisive factor one must take into consideration while purchasing a health insurance policy. When you are hospitalised for a specific illness, the primary objective should be to avail the finest treatment and not worry about cash. Cashless claims are easy and hassle-free as they spare the tension and stress, not only for the insured but for his/her family members as well.
  • Maximum hospitals must be covered: Another important point is the hospital network offered by a typical health insurance policy. Your insurance provider must have tie-ups with maximum number of hospitals for easy accessibility and convenience.
  • Reasonable and economical premiums: A real-time comparison between multiple health insurance policies must be conducted before a purchase is made. You should always compare the premium costs of multiple health plans before finally deciding which to buy.
  • Time taken for settling claims: The amount of time a typical insurance provider takes to settle a claim reflects volumes about them. You should compare multiple providers before finally purchasing a comprehensive health cover from one.

Based on the factors mentioned above, following are some of the best health insurance policies currently available in India. The table includes both individual plans as well as family plans:

Insurance Provider Name of the Plan Minimum and maximum entry age Basic Sum Assured (in Rs.) Minimum Premium Amount (in Rs.)
Apollo Munich Health Insurance Optima Restore Minimum entry age:
  • For individual plans - 18 years
  • For floater plans - 91 days
Maximum entry age:
  • For individual plans - 65 years
  • For floater plans - 21 years
The sum assured provided under the plan ranges from Rs.3 lakh to Rs.15 lakh The minimum premium amount is Rs.5,000
Max Bupa Health Insurance Heartbeat No age restrictions The sum assured provided under the plan ranges from Rs.2 lakh to Rs.50 lakh The minimum premium amount is Rs.3,700
Bajaj Allianz Health Insurance for Individual
  • Minimum age of entry - 18 years as on the last birthday
  • Maximum age of entry - 65 years as on the last birthday
The sum assured provided under the plan ranges from Rs.1.5 lakh to Rs.50 lakh Variable with SA
HDFC Ergo Health Suraksha Plan No age restrictions under the plan The sum assured offered under the plan ranges from Rs.3 lakh to Rs.10 lakh Variable with SA
Religare Care Care Health Insurance Plan
  • Minimum age of entry - 5 years as on the last birthday
  • Maximum age of entry - no limitations
The sum assured offered under the plan ranges from Rs.2 lakh to Rs.60 lakh The minimum payable premium amount is Rs.2,300

Special Features and More:

Apollo Munich Optima Health Restore: This unique plan offers the facility of restoration, wherein, the basic amount is restored by the insurer in case it is about to get exhausted before the policy term’s end.

USP of the plan:

  • A coverage of 180 days or more is provided to the insured after the period of hospitalisation
  • The plan offers the facility of lifetime renewal
  • The basic amount is restored in case it is about to get exhausted
  • The plan offers coverage for domiciliary treatment
  • The plan also covers expenses incurred while donating organs

Max Bupa Heartbeat:

USP of the plan:

  • The plan offers coverage for free medical check-ups for every second year
  • The plan does not obligate Third Party Administration (TPA) for settlement of claims
  • The plan offers maternity benefits
  • The plan can be renewed at any time throughout the lifespan of the insured
  • The plan offers coverage for vaccination of children, up to the age of 12 years

Bajaj Allianz Health Insurance for Individuals:

USP of the Plan:

  • The plan offers fixed terms of 1 year, 2 years, and 3 years
  • The plan offers coverage for expenses incurred in day care
  • The plan gives the facility to avail cashless treatments and also has tie-ups with multiple hospitals
  • The plan offers coverage for preventive health check-ups
  • Additionally, the plan also offers coverage for homeopathic and other ayurveda treatments

HDFC Ergo Health Suraksha Plan:

USP of the Plan:

  • Along with a wide hospital network, the plan offers cashless medical treatments and services
  • The plan offers coverage for OPD (outpatient department) expenses incurred, such as dental fees, pharmacy bills, and so on
  • The plan offers coverage for the AYUSH treatment (Ayurveda, Yoga, Unani, Siddha and Homeopathy)
  • The plan offers coverage for expenses that are incurred while donating organs

Religare Care Health Insurance Plan

USP of the Plan:

  • There is no maximum entry age limitation
  • The plan offers the facility of lifetime renewal
  • The plan offers cashless treatments from a wide hospital network
  • The plan can be purchased online without paperwork hassles

Best Health Insurance Policies for Senior Citizens in India:

Typically, as an individual begins to grow old, they become more prone to diseases and critical illnesses. During such a time, having a comprehensive health insurance policy proves to be highly beneficial as it helps overcome any financial set-back that the individual and his family may be going through. Health insurance policies for the elderly must be purchased at an early stage in life as they usually come with waiting periods.

Let us take a look at some of the best health insurance policies for senior citizens in India:

  1. Apollo Munich Optima Star: This plan offers extensive coverage for medical treatments and procedures that require in-patient hospitalisation.
    1. The minimum entry age for the plan is 61 years or more.
    2. The plan offers a 5% family discount for people who purchase the cover for themselves along with their spouse. However, the sum insured provided under the plan is on an individual basis.
    3. When you are renewing your policy, the existing premium amount may change due to an increase in your age or your spouse’s age. The tax rate applicable on the premium will undergo a change as well.
  2. What are some of the benefits offered under Apollo Munich Optima Star Plan?

    The following are some of the benefits offered under the plan:

    • Cover for pre-hospitalisation medical expenses
    • Cover for post-hospitalisation medical expenses
    • Cover for in-patient hospitalisation
    • Cover for 140 day-care procedures that are enlisted under the plan
    • Cover for domiciliary treatment done at home
    • Cover for organ transplant/organ donation
    • Cover for emergency ambulance services
    • Cover for second opinions from doctors of Apollo Munich
  3. Star Health Senior Citizens Red Carpet Health Insurance Policy:
    1. The plan is offered to people who fall between 60 years and 75 years
    2. The plan does not mandate medical examination for applicants
    3. Offers coverage for in-patient hospitalisation up to a time period of 24 hours
    4. According to specified limits, the plan offers coverage for ambulance services
    5. The plan covers post-hospitalisation expenses in the form of lump-sum payment
    6. The plan covers certain pre-specified day care procedures as well
  4. What are some of the new features of the plan?

    The following are some of the features that have been recently introduced in the plan:

    • Apart from the existing sum insured options, two more have been introduced, namely Rs.10 lakh and Rs.7.5 lakh
    • Cataract limits have undergone revision
    • If you are purchasing the plan online, you will get a discount of 5% on the premiums payable
    • The plan covers outpatient consultation as well, in network hospitals

News About Health Insurance in India

  • Liberty Health 360 Launched by Liberty General Insurance

    In a bid to increase momentum of the claims procedure in its company, Liberty General Insurance recently launched an in-house health claims management hub, the sole purpose of which will be faster transactions of both cashless claims as well as reimbursements. This, in turn, will increase the turnaround time of the customer and will impart a sense of urgency with security.

    The launch of Liberty 360 has made the entire mechanism of the claims procedure at Liberty General Insurance smooth and absolutely hassle-free. Customers now have the freedom to get in touch with Liberty directly in case there is a claim intimation. Along with communicating with Liberty directly by means of the digital media, customers can also submit the required documents and follow-up with multiple other procedures. Once medical admissibility has been confirmed by the insurer, the payout (claim amount) will be disbursed by the insurer within a timeframe of two hours. Reimbursement claims and claims for personal accidents are usually disbursed within a period of 10 days.

    Liberty General Insurance conducted a training programme for its employees recently. In this programme, the employees are provided with adequate technical and soft-skill training to up the company’s standards in general.

    Liberty General Insurance CEO, Roopam Asthana said that the company’s sole ambition has been providing a seamless healthcare journey to its customers.

    31 August 2018

  • Ayushman Bharat Expected to Create 10,000 New Jobs

    The implementation of Ayushman Bharat - National Health Protection Mission, affectionately known as ‘Modicare’ is all set to launch on 15 August, the Independence Day.

    As much as the health programme will most likely evade a large portion of the problems related to healthcare, it will also create exciting new job opportunities for the general public. Ayushman Bharat primarily aims to provide a Rs.5 lakh per family financial cover to more than 10 crore underprivileged and poor families in India.

    In order to facilitate the movement and spread awareness about its features, close to one lakh Ayushman Mitras or officials are going to be placed in both government as well as private hospitals and medical institutions. The main job of these Mitras would be assisting the people entering the hospitals to avail the packages under Ayushman Bharat.

    In order to extract services from a handful of medical professionals, the Health Ministry has evidently collaborated with Skill Development Ministry to facilitate deployment of Ayushman Mitras. These officials are believed to be highly skilled and will assist the people visiting the hospital, and will also coordinate with the respective beneficiaries in the most accurate manner.

    Additionally, the Union Ministry has been reported to have launched a curriculum to empanel private as well as public hospitals to attain the universal health coverage under the programme and so far approximately 20,000 private and public hospitals have come onboard along with Ayushman Bharat.

    16 August 2018

  • How Do Lifestyle Habits Affect Health Insurance Policy Premiums?

    Insurance companies, both general as well as health insurers are all headed towards the direction of artificial intelligence, wherein people’s lifestyle habits and activities will determine the amount of premiums they pay for certain products.

    In case you have plans to purchase a comprehensive health insurance policy sometime in the future, giving up the sedentary lifestyle and hitting the gym or devoting time for yoga and meditation might turn out to be extremely useful. The biggest advantage that you will get is substantial reduction in the amount of premiums that you are paying.

    Recently, a working group was set up by the Insurance Regulatory and Development Authority of India (IRDAI). This working group is primarily responsible for tracking people’s activities via activity monitors like fitness bands. Additionally, the group has also established that henceforth pricing and designing of financial products will solely revolve around the kind of lifestyles that people are leading.

    The primary motive herein is to keep the consumer informed about the current state of their health, and how the same will affect their health insurance policy premiums.

    13 August 2018

  • Modi Urges Officials to Ensure Zero Fraudulent Activity in Ayushman Bharat

    The approaching elections and a horde of fraudulent activities in the sector of insurance has left our Prime Minister, Narendra Modi, concerned about the new health insurance scheme - Ayushman Bharat.

    In order to curb fraudulent activities and ensure that the scheme is not tarred with anything not genuine, Modi has urged his officials to pay special attention towards making this possible. Ayushman Bharat is a widely-popular health insurance scheme that is often referred to as ‘Modicare’. As its launch date gradually approaches, it stirs more and more anticipation amongst the masses.

    Ayushman Bharat is evidently all-set to get launched in 12 Indian states in its initial phase, which will begin on 15 August, the Independence Day. By the end of the month October, Ayushman Bharat will evidently be launched across all the states covering more than 50 crore individuals all over India.

    At a high level review of the scheme’s preparedness, Modi is believed to have immensely urged his officials to ensure that no fraudulent activity materialises while the scheme is in force. He also asked his officials to make sure that no one takes undue advantage or misuses the scheme.

    10 August 2018

  • Deterred Growth of Health Insurance in India: Affordability and Low Risk Awareness to be Blamed

    The importance of health insurance and its penetration amongst the masses has still not gained much momentum, owing to factors such as affordability and low risk awareness. In order to curb the problem, certain health officials have called for simplification of certain health products, so they are comprehended better by the users.

    Over the last few years collectively, the sector of health insurance has barely witnessed a growth of about 16%. In general insurance, the health insurance sector accounts for about 27% of the total premiums paid by policyholders.

    As the Government’s initiative, Ayushman Bharat gets ready to be launched all over India, covering more than 50 crore members, the Indian Government gets notified about the severe misinterpretation of health insurance products and the resultant inability to understand them. Therefore, the Government has been advised to offer standardised and simplified products to people falling under this scheme. Increased focus has also been provided to the fact that most of the population of India has agreed to be a part of this scheme, hence the need of the hour is to simplify the available health products.

    The Indian states will be offered flexibility to a certain degree where implementation of the scheme is concerned.

    7 August 2018

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