Having health insurance has always been important but it is all the more important considering we are amidst a Pandemic and similar health crisis will keep occurring due to the rise in population, urbanization, climate change, rise in global travel, and other factors. An adequate insurance policy provides you with much-needed financial assistance in case of any medical emergency and covers treatment expenses incurred on pre and post-hospitalization, room rent, ambulance services, doctor’s fee, ICU charges, medicine costs, and so on. Thus, medical insurance protects your savings from any unexpected expenses due to medical treatments.

Insurance played an important role in the pandemic-struck 2020, from protecting one's income for the benefit of surviving family members to having a risk-cover to meet hospital bills, the importance of insurance has risen in 2020. This makes it extremely important to review one's insurance needs in 2021 and make up for any inadequacies at the earliest.

The purpose of insurance is to protect against unforeseen risks. While life insurance is meant to provide financial aid in case of the untimely death of the bread earner in a family, health insurance helps to meet the medical cost in the case of hospitalization.

What is a Health Insurance Plan?

Health insurance plans / medical insurance reimburses the insured individuals for their medical expenses that include costs related to surgeries, hospitalization, treatments, and the like arising due to injuries, illnesses, or even accidents. In case of a health insurance claim settlement, the insurer, that is the insurance company, pays the benefits to the insured as per the terms and conditions of the policy document.

In other words, a medical insurance policy is an agreement between an insurance company and the insured where the former agrees to provide the specified payment/compensation for medical expenses in case the latter is ill and requires hospitalization. In most cases, health insurance companies have tie-ups with hospitals, known as network hospitals where the insured can avail of treatment without paying even a single penny.

Best Health Insurance in India

Oriental Insurance – Happy Family Floater Plan

Happy Family Floater Health Policy offered by Oriental Insurance covers medical expenditures incurred by the whole family under a single sum assured. The family comprises of Self, Spouse, Children, Parents, and Parents-in-laws. There are two plans available in Family Floater Silver and Gold. With this plan, you can claim medical costs owing to any ailment/ injury/ accident that necessitates hospitalization. Available in three plans Silver, Gold, and Diamond. Sum Insured from Rs.2lacs to Rs.20lacs. Organ Donor Benefit- When Insured Person is the donor, Medical Second Opinion Reimbursement, Maternity Expenses Cover, New Born Baby Cover,  Life Hardship Survival Benefit under all Plans, Restoration of Sum Insured, Increase in Day Care Procedure List. Covers about 24 day-care procedures that do not require a minimum of 24 hours hospitalization. You are entitled to a no-claim bonus of 5% up to a maximum of 20% on the premium if you renew the policy without any break. You can claim for hospitalization, nursing home charges, surgery, medicines, drugs, pathological tests, and so forth during an organ transplant. The insurance company will compensate you for the medical expenses related to your hospitalization 30 days before the hospitalization. A 30 days cooling-off period for all claims except any arising out of accidental injuries. This plan does not cover maternity costs.



·     Manipal Cigna – Pro-Health Plus

This policy is suitable for couples who have or are planning for kids, ProHealth Plus provides a comprehensive cover when looking to start on the family path. Sum Insurers invest between 4.5 – 50 lakhs, With about premium of 16,072 per annum (The Premium value is indicative for the below mentioned profile Age – 30, Zone – 1, Cover type – Family Floater ( 2 adults), Tenure- 1 year, Premium payment mode- Single.)  along with a cumulative bonus booster of  25% increase in sum insured per year. PRO HEALTH plan comes with basic covers, value added covers, and optional covers to choose from more importantly includes Multiple restoration, Daycare cover, Ayush cover, Free health checkup cover along with maternity cover



·     HDFC Ergo General Health

This health insurance plan offers completely cashless treatments at our network hospitals along with a host of other attractive features to meet your healthcare needs.  You will get 100% of your cover restored instantly after your first claim. It also gives a 2xmultiplier benefit with 100% additional policy cover as no claim bonus. Complimentary health check up’s and in case of hospitalization get daily hospital cash from 1000 upto Rs 6000. This policy covers hospitalization expenses, pre & post-hospitalization, daycare procedures, emergency road ambulances, organ donor expenses, also includes all modern treatments and recovery benefits. Complete coverage 60 days prior & 180 days post your hospitalization. This ensures better planning of your hospitalization needs. 10,000 hospitals, Maximum 50  lacs cover



SBI Arogya Premier Health Policy

SBI General's Arogya Premier Policy is designed for the exclusive few – meeting their unique requirements. With wider medical coverage, insured person can go for the very best healthcare and consult top medical experts without any worries. Any Individual can take this Policy for himself and/or his family with a minimum entry age is 3 months and maximum entry age is 65 years. There is no exit age. Eligible Hospitalization Expenses, Pre and Post Hospitalization (Including Domiciliary Hospitalization) Expenses Coverage, Day Care Expenses, Ambulance Expenses, Organ Donor, Alternative Treatment, Domiciliary Hospitalisation, Maternity Expenses, Health Check-up, Reinstatement of Sum Insured, Cumulative Bonus:, HIV/AIDS Cove, mental illness, genetic disorder,  No pre-policy medical test up to the age of 55 years for people with no medical history. Benefits like 141 Day Care expenses covered, AYUSH Cover, Cumulative Bonus: 10% of SI for each claim-free year, up to 50%, Coverage from Rs 10,00,000 to Rs 30,00,000.

Tax Deduction: Under Sec 80D and Reimbursement of health check up to Rs 5000 in case of no claim for 4 years


 National Insurance Company Limited

With a constant increase in healthcare costs and the ever-rising instances of diseases, health insurance has become a necessity of the day. National Parivar Mediclaim designed by National Insurance Company is a type of plan, which gives complete protection to the entire family members under a single sum insured. The coverage benefits under the policy can be availed by any insured family member. National Parivar Mediclaim  Policy is an indemnity floater health insurance, covering the members of a family under a single sum insured. The policy covers expenses in respect of inpatient treatment (Allopathy, Ayurveda, and Homeopathy), domiciliary hospitalization, reasonably and customarily incurred for treatment of a disease. Room charges subject to 1% of sum insured per day and Intensive care unit charges subject to 2% of sum insured per day (including nursing care, RMO charges, IV fluids/blood transfusion/injection administration charges).  Surgeon, anesthetist, medical practitioner, consultants, and specialist fees. Anaesthesia, blood, oxygen, operation theatre charges, any disposable surgical appliances subject to a maximum of 10% of the sum insured, medicines and drugs, diagnostic materials and X-ray, dialysis, chemotherapy, radiotherapy, cost of pacemaker, artificial limbs and cost of stent and implants. Coverage upto 10 lacs