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Health Insurance Plans
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Health Insurance, also known as medical insurance policy, offers financial security by covering medical expenses such as hospitalization, ... Read More

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Quick

claim settlement

cashless

treatment

Effective

health coverage

Tax Benefit

upto Rs.50,000
Fincover

Advantages

There are several reasons why you should apply

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What are Top Health Insurance Plans in India?

Several good plans are available at a cost that will enhance your day.

star-health

Star health

Expert Review (4.9/5)
4.9/5
  • Coverage: Includes hospitalization expenses, pre & post-hospitalization, daycare procedures, ambulance charges, and AYUSH treatments (Ayurveda, Yoga, Unani, Siddha, Homeopathy).
  • Add-Ons: Options for critical illness cover, maternity benefits, and personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act for premiums paid.
  • Portability: Flexibility to switch from other insurers without losing benefits, subject to policy conditions.
  • Renewability: Lifelong renewability with no maximum age limit for policy renewal.
care-insurance

Care Health

Expert Review (4.9/5)
4.9/5
  • Coverage: Includes hospitalization expenses, pre & post-hospitalization, daycare procedures, ambulance charges, and AYUSH treatments (Ayurveda, Yoga, Unani, Siddha, Homeopathy).
  • Add-Ons: Options for critical illness cover, maternity benefits, and personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act for premiums paid.
  • Portability: Flexibility to switch from other insurers without losing benefits, subject to policy conditions.
  • Renewability: Lifelong renewability with no maximum age limit for policy renewal.
manipal-cigna

ManipalCigna

Expert Review (4.9/5)
4.9/5
  • Coverage: Hospitalization expenses, pre & post-hospitalization, daycare procedures, ambulance charges, AYUSH treatments.
  • Add-Ons: Critical illness cover, maternity benefits, personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act.
  • Cashless Network: 7,500+ network hospitals for cashless claims.
  • Portability: Flexibility to switch from other insurers without losing benefits.
  • Renewability: Lifelong renewability with no age limit.
hdfc-insurance

HDFC ERGO

Expert Review (4.9/5)
4.9/5
  • Coverage: Includes hospitalization expenses, pre & post-hospitalization (up to 60 & 180 days, respectively), daycare procedures, ambulance charges, and AYUSH treatments (Ayurveda, Yoga, Unani, Siddha, Homeopathy).
  • Add-Ons: Options for critical illness cover, maternity benefits, and personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act for premiums paid.
  • Portability: Flexibility to switch from other insurers without losing benefits, subject to policy conditions.
niva-bupa-health-insurance

Niva Bupa

Expert Review (4.9/5)
4.9/5
  • Coverage: Hospitalization expenses, pre & post-hospitalization, daycare procedures, ambulance charges, AYUSH treatments.
  • Add-Ons: Critical illness cover, maternity benefits, personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act.
  • Cashless Network: 10,675+ network hospitals for cashless claims.
  • Portability: Flexibility to switch from other insurers without losing benefits.
  • Renewability: Lifelong renewability with no age limit.
icici-insurance

ICICI Lombard

Expert Review (4.9/5)
4.9/5
  • Coverage: Includes hospitalization expenses, pre & post-hospitalization, daycare procedures, ambulance charges, and AYUSH treatments.
  • Add-Ons: Options for critical illness cover, maternity benefits, and personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act.
  • Cashless Network: Over 6,500+ network hospitals for hassle-free claims.
  • Portability: Flexibility to switch from other insurers without losing benefits.
  • Renewability: Lifelong renewability with no age limit for renewal.
reliance-general-insurance

Reliance Health

Expert Review (4.8/5)
4.8/5
  • Coverage: Includes hospitalization expenses, pre & post-hospitalization, daycare procedures, ambulance charges, and AYUSH treatments.
  • Add-Ons: Options for critical illness cover, maternity benefits, and personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act.
  • Cashless Network: 8,500+ network hospitals for hassle-free claims.
  • Portability: Flexibility to switch from other insurers without losing benefits.
    Renewability: Lifelong renewability with no age limit.
Aditya Birla Health Insurance

Aditya Birla

Expert Review (4.9/5)
4.9/5
  • Coverage: Hospitalization expenses, pre & post-hospitalization, daycare procedures, ambulance charges, AYUSH treatments.
  • Add-Ons: Critical illness cover, maternity benefits, personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act.
  • Cashless Network: 12,354+ network hospitals for cashless claims.
  • Portability: Flexibility to switch from other insurers without losing benefits.
  • Renewability: Lifelong renewability with no age limit.
bajaj-insurance-india

Bajaj Allianz

Expert Review (4.9/5)
4.9/5
  • Coverage: Includes hospitalization expenses, pre & post-hospitalization, daycare procedures, ambulance charges, and AYUSH treatments.
  • Add-Ons: Options for critical illness cover, maternity benefits, and personal accident protection.
  • Tax Benefits: Deductions under Section 80D of the Income Tax Act.
  • Cashless Network: 6,500+ network hospitals for hassle-free claims.
  • Portability: Flexibility to switch from other insurers without losing benefits.
    Renewability: Lifelong renewability with no age limit.
#healthinsurers

Top Health Insurance Providers in India

star-health
icici-insurance
hdfc-insurance
manipal-cigna
care-health-insurance
niva-bupa-health-insurance
Bajaj Health
reliance-general-insurance
Aditya Birla Health Insurance
health-insurance

What is Health Insurance?

A health insurance plan functions as a financial security cushion protecting people from medical expenses which happens as a result of illnesses or injuries or routine preventative care needs. Health insurance policy premiums enable members to benefit from financial protection for hospital care along with surgeries and outpatient needs and critical illness expenses. Through its protective function health insurance serves as a safety system which reduces excessive healthcare costs from unexpected medical situations.

💡 India’s health insurance market is projected to reach ₹1.97 lakh crore by 2028, growing at a CAGR of 12.8%. (Source)

💡 India will lead G20 nations in insurance premium growth, with an average annual rate of 7.3% from 2025 to 2029. (Source)

How Health Insurance Works? A Story

StepScenarioWhat Happens?
Buying PolicyRahul buys a health insurance policy with ₹5 lakh coverage, paying an annual premium of ₹12,000.Rahul secures financial protection against future medical expenses.
FallingA year later, Rahul falls sick and needs hospitalization for dengue treatment.He chooses a hospital from his insurer’s network to avail cashless claim benefits.
HospitalizationRahul gets admitted; the hospital informs the insurance company for pre-authorization.The insurer verifies his policy details and approves the treatment expenses under the coverage limit.
Claim ProcessThe hospital submits all necessary documents: bills, discharge summary, and test reports.Since it’s a network hospital, the insurer directly pays the medical bills (after deducting co-pay, if any).
Out-of-PocketRahul’s policy has a 10% co-payment, so he pays ₹5,000 from his pocket for a ₹50,000 hospital bill.The insurer covers ₹45,000, while Rahul pays ₹5,000 as part of the co-payment clause.
RecoveryRahul recovers without worrying about huge medical expenses.His health insurance saves him from financial stress, showcasing its true value.

*Rahul’s health insurance journey, shows how premiums, coverage, and claims work in real life.

Why is Health Insurance Important in Life?

Multiple factors make health insurance a fundamental requirement for people.

  • Financial Protection: By using health insurance a person receives protection from overwhelming medical expenses which protects both their savings and their financial well-being.
  • Access to Quality Healthcare: Selecting a solid health insurance policy allows you to receive premium healthcare services amidst increasing medical expenses.
  • Peace of Mind: Knowing you have a safety net in place allows you to focus on recovery rather than worrying about expenses during medical emergencies.
  • Preventive Care: Health insurance policies often include coverage for preventive health check-ups that help people identify and control possible healthcare issues at early stages.
health-ins02

What are the Types of Health Insurance?

The platform of Fincover has collated multiple health insurance options from various insurance companies to meet various customer requirements. The available health insurance options include a number of forms.

family-insurance

Family Floater Plans

Family Floater Plans combine all family members under one policy that provides low-cost protection for household members.

Individual-h-insurance

Individual Health Insurance

Individual Health Insurance plan delivers comprehensive healthcare coverage that serves the specific medical needs of single policyholders.

Senior-Citizen-insurance

Senior Citizen Health Insurance

Senior Citizen Health Insurance has been created to support older adults with their health needs while offering benefits for chronic diseases and age-related medical requirements.

Accidental policy

Personal Accident Insurance

A Personal Accident Insurance policy offers a lump sum benefit for accidents that may lead to disability or death. It is an annually renewable policy and can cover individuals or groups.

Critical-Illness

Critical Illness Policies

Critical Illness Policies grant monetary benefits for cancer patients as well as heart disease patients and stroke victims to get specialized care while eliminating financial concerns.

Hospitalization

Group Health Insurance

These are policies in which a single policy contains a large number of coverage options, it is usually availed by corporates for their employees

Unit-Linked

Mediclaim Policy

Mediclaim‌ ‌is‌ ‌a‌ ‌health‌ ‌insurance‌ ‌policy‌ ‌that‌ ‌covers‌ ‌the‌ ‌cost‌ ‌of‌ ‌hospitalization‌ ‌in‌ ‌case‌ ‌of‌ ‌any‌ ‌health‌ ‌issues.‌ ‌‌The‌ ‌coverage‌ ‌amount‌ ‌extends‌ ‌up‌ ‌to‌ ‌the‌ ‌sum‌ ‌assured‌ ‌opted‌ ‌by‌ ‌the‌ ‌insurer.‌

Maternity-insurance

Maternity Insurance

The insurance provides financial coverage to pregnant people and their newborns throughout the pregnancy journey and postnatal period.

What Does Health Insurance Cover (Inclusions) and Exclusion?

CategoryDetails
InclusionsHospitalization Expenses – Room rent, ICU charges, doctor fees, and nursing costs.
 Pre-Hospitalization – Medical tests, consultations, and treatments before admission (usually 30 days prior).
 Post-Hospitalization – Follow-up treatments, medications, and diagnostic tests after discharge (usually up to 60-90 days).
 Daycare Procedures – Treatments that don’t require 24-hour hospitalization (e.g., cataract surgery, chemotherapy).
 Ambulance Charges – Expenses for emergency transportation to the hospital.
 Critical Illness Cover – Financial protection for life-threatening conditions like cancer, heart attack, etc.
 Maternity Benefits – Coverage for childbirth-related expenses (in select plans).
 Organ Donor Expenses – Costs related to organ transplantation (excluding donor’s hospitalization).
ExclusionsPre-Existing Diseases – Initially excluded, covered after a waiting period (1-4 years depending on the policy).
 Cosmetic & Plastic Surgeries – Not covered unless required due to accidents or medical necessity.
 Dental & Vision Care – Excluded unless resulting from an accident.
 Self-Inflicted Injuries – Injuries due to intentional harm or suicide attempts.
 Alternative Therapies – Non-allopathic treatments like naturopathy (unless specified in the policy).
 War or Terrorism-Related Injuries – Injuries sustained during acts of war or terrorism.
 Unproven Treatments – Experimental treatments not recognized by medical science.

What are the Benefits of Health Insurance?

Health insurance delivers various advantages to customers which make it an important investment decision for users.

Health insurance policies enable their members to access cashless hospital services within their network of hospitals during treatment emergencies without requiring additional financial expenses.
The insurance policy includes coverage for a broad spectrum of medical expenses that includes hospitalization along with surgeries diagnostic tests and access to both conventional and alternative treatments.
Health insurance premium payments qualify for tax deductions when you file your income tax according to the provisions mentioned in the Income Tax Act. Under Section 80D of the IT act, you can get a tax deduction of up to Rs 25,000 each year for health insurance premiums. For senior citizens, this increases to Rs 50,000
Regular health check-ups coupled with wellness programs under preventive services enable people to find diseases early and stop them from progressing.
No health insurance claims in a policy year can mean higher sum insured when you renew your policy. Make sure you keep your health insurance valid to avail this benefit.
A quick settlement process enables you to receive urgent help in critical moments through Emergency Assistance.

Key Terms in Health Insurance

TermDefinition
PremiumThe amount you pay regularly (monthly, quarterly, or annually) to keep your health insurance active.
Sum InsuredThe maximum amount the insurer will pay for medical expenses in a policy year.
DeductibleYou must pay a fixed amount out of pocket before the insurance starts covering your expenses.
Co-paymentA percentage of the claim amount that you must pay, while the insurer covers the rest.
Network HospitalsHospitals partnered with the insurer where you can avail cashless treatment.
Cashless ClaimA claim where the insurer directly settles the hospital bills without you having to pay upfront.
Reimbursement ClaimYou pay medical expenses first and then claim reimbursement from the insurer.
Waiting PeriodThe initial period during which certain conditions (like pre-existing diseases) aren’t covered.
Pre-existing Diseases (PED)Medical conditions you had before buying the policy, are often covered after a waiting period.
No Claim Bonus (NCB)A reward (like increased coverage or reduced premium) for not making any claims during a policy year.
ExclusionsMedical conditions or treatments that are not covered under the health insurance policy.
Riders/Add-onsOptional benefits you can add to your policy for enhanced coverage (e.g., critical illness coverage).
Free-look PeriodA short period (usually 15-30 days) after buying the policy to review and cancel if unsatisfied.

How to Choose the Right Health Insurance Plan?

Health insurance policy selection proves to be an arduous task for many people. Fincover provides an easy-to-use platform that supports decision-making through its key factor-based comparison table. The table below contains important criteria which you can use to select the health insurance plan that fits your requirements best.

CriteriaWhat to Look For
Coverage AmountChoose a sum insured that adequately covers for the medical expenses
Premium CostCompare premium amounts while ensuring it does not interfere with your regular budget
Network HospitalsCheck if your preferred hospitals that are accessible to you are available in the network hospital list of the policy you selected
Co-pay OptionsEvaluate any co-payment clauses which may potentially cause you out-of-pocket expenses
Additional BenefitsLook for extras like free health check-ups, ambulance services, and wellness programs which motivate you to stay fit
Claim Settlement RatioA higher ratio indicates a more reliable insurer with efficient claim processing.

What are the Eligibility Criteria for Health Insurance?

The eligibility criteria for health insurance consist of these key factors.:

  • Age: Standard insurance policies include age-limited coverage which extends from young adults to senior citizens.
  • Medical History: Some insurance providers will need medical check-ups together with medical records assessments primarily for people with known health conditions.
  • Residency: To enroll in a policy you must be a resident of the country where the policy is available.
  • Income: Your annual earnings determine which plan and premium options you receive although they do not function as policy eligibility criteria.

What are the Documents Required for Health Insurance?

Document TypeAccepted Documents
Identity ProofAadhaar Card, PAN Card, Passport, Voter ID
Address ProofUtility Bills, Aadhaar Card, Passport
Age ProofBirth Certificate, Aadhaar Card, Passport
Income Proof (if required)Salary Slip, IT Return, Bank Statement
Passport-size PhotographRecent colored photo
Medical ReportsHealth check-up reports (if applicable)

How to Claim Health Insurance?

A health insurance claim procedure follows different specific steps when claiming money. The following simplified breakdown explains the health insurance claim procedure:

  • Notify the Insurer: Contact your insurer immediately after any medical event that requires hospital admission.
  • Submit the Claim Form: The claim process demands both a fully completed Claim Form as well as all essential documents which must include medical fees with attached reports.
  • Claim Processing: Insurers evaluate claims through their assessment process before issuing payments matching policy terms either through cashless provision or reimbursement benefits.

What are the Types of Health Insurance Claims?

Claim TypeDescription
Cashless ClaimThe insurer directly settles the bill with the hospital.
Reimbursement ClaimYou pay the hospital bills first and get reimbursed by the insurer.

Cashless claims vs reimbursement claims

Cashless Claim Process:

  1. Admission to Network Hospital: Visit a hospital listed in the insurer’s network.
  2. Intimation to Insurer: Inform the insurance provider immediately or within 24 hours of admission.
  3. Fill out the Pre-Authorization Form: Submit the form to the hospital’s insurance desk.
  4. Verification by Insurer: The insurer reviews the documents and approves the claim.
  5. Claim Settlement: The insurer settles the medical bills directly with the hospital.

Reimbursement Claim Process:

  1. Get Treated at Any Hospital: Choose any hospital for treatment.
  2. Pay Hospital Bills: Settle all medical expenses at discharge.
  3. Collect Documents: Gather all original medical bills, reports, discharge summaries, etc.
  4. Submit Claim Form: Fill out the reimbursement claim form and attach all documents.
  5. Claim Verification: The insurer reviews the documents and processes the claim.
  6. Reimbursement: The approved claim amount is transferred to your bank account.

Health Insurance Tax Benefits (Under Section 80D) for FY 2024-25

CategoryWho Can Claim?Deduction Limit (₹)
Self & Family (Below 60)Premiums paid for self, spouse, and childrenUp to ₹25,000 per year
Parents (Below 60)Premiums paid for parentsAdditional ₹25,000 per year
Parents (Above 60 – Senior Citizens)Premiums paid for senior citizen parentsUp to ₹50,000 per year
Self (If Senior Citizen)If you’re 60 or olderUp to ₹50,000 per year
Preventive Health Check-upsIncluded within the overall limitUp to ₹5,000 (part of the ₹25,000/₹50,000 limit)

Example:

If you’re under 60 and pay ₹20,000 for your family’s premium and ₹50,000 for senior citizen parents, you can claim ₹70,000 in tax deductions.

@fincover

How to Buy Health Insurance?

Fincover gets you the best insurance available in the market. Our compare and buy feature helps you choose the most suitable policy. Here is what you need to do:

  • Visit Fincover.com: Go to www.fincover.com using your browser.
  • Select ‘Health Insurance’: On the homepage, click on the ‘Health Insurance’ section.
  • Compare Plans: Fincover will display a list of health insurance plans from top insurers.
  • Choose the Best Plan: Select a plan that suits your medical needs and budget.
  • Submit Personal Information: Provide detailed information, including your medical history (if applicable).
  • Make Payment: Pay the premium securely online using net banking, UPI, debit/credit cards.
  • Get Policy Document: After successful payment, receive your policy document instantly via email.
  • Policy Activation: Your health insurance policy will be active, and you’ll receive a health card for cashless claims.
How to buy

How to Renew Health Insurance?

StepWhat to Do
1. Review PolicyCheck your current policy details—coverage, sum insured, and any recent claims.
2. Compare OptionsCompare plans from other insurers if you’re considering portability for better benefits.
3. Update InformationUpdate personal details, like contact info or any changes in health conditions.
4. Choose Add-onsAdd or remove riders (e.g., critical illness cover) based on your current needs.
5. Calculate PremiumReview the updated premium amount, considering age-related or policy changes.
6. Make PaymentPay the renewal premium online (via net banking, UPI, credit/debit card) or offline.
7. Receive ConfirmationGet the renewed policy document via email or post—check for accuracy.
8. Keep RecordsSave the policy copy and payment receipt for future reference and claim purposes.

Tips:

  • Renew before the expiry date to avoid policy lapses.
  • Utilize the grace period (15–30 days) if you miss the deadline.
  • Ensure continuous coverage to retain benefits like No Claim Bonus (NCB).

What is Health Insurance Portability?

Health insurance portability allows you to switch from one insurer to another without losing key benefits like your No Claim Bonus (NCB) and waiting period credits for pre-existing conditions. Introduced by IRDAI in 2011, it empowers policyholders to choose better plans with improved coverage, lower premiums, or better services. You can port individual or family floater policies, but you must apply at least 45 days before your current policy’s renewal date.

Key Benefits:

  • Retain NCB and waiting period benefits
  • Flexibility to upgrade coverage
  • Better claim settlement services

How It Works:

  1. Review your current policy.
  2. Choose a new insurer and apply for portability.
  3. Submit required documents (existing policy, claim history, etc.).
  4. The new insurer reviews your application.
  5. Once approved, enjoy continuous coverage without gaps.

Things to Know:

  • Portability doesn’t guarantee the same premium; it may vary.
  • You can only port to a similar type of policy (individual-to-individual, floater-to-floater).
  • IRDAI ensures a smooth process, and insurers can’t reject portability without valid reasons.
FAQs
The best health insurance varies based on your needs. Top-rated insurers include ICICI Lombard, HDFC Ergo, Star Health, Max Bupa, and Care Health Insurance. Factors like claim settlement ratio, network hospitals, coverage options, and customer reviews help determine the best plan for you.
Your ideal coverage depends on factors like age, city, family size, and lifestyle.

Single (urban areas): ₹10–15 lakh
Family floater: ₹20–25 lakh
Senior citizens: ₹25 lakh+ with critical illness cover
Consider rising medical inflation and hospitalization costs when choosing coverage.
Yes, health insurance is worth it—even for young, healthy individuals. It protects against unexpected medical emergencies, ensures access to quality care, and offers tax benefits under Section 80D. Without insurance, medical bills can drain your savings.
Premiums vary based on age, sum insured, city, and medical history:

20s: ₹5,000–₹8,000 annually (₹5 lakh cover)
30s–40s: ₹8,000–₹15,000 (₹10 lakh cover)
50+: ₹20,000+ (higher coverage with critical illness add-ons)
Yes, health insurance covers COVID-19 under standard policies. Many plans also cover chronic diseases, maternity, mental health, and specific critical illnesses. Check policy inclusions for details.
Yes, many insurers offer no-medical-checkup policies for people below 45–50 years with no pre-existing conditions. However, for higher sum insured or older applicants, medical tests may be required.
Without health insurance, you face financial risks like high out-of-pocket medical expenses, potential medical debt, and limited access to quality healthcare during emergencies.
Yes, many insurers offer instant health insurance plans with online application, quick approval, and digital policy issuance. Some popular providers include ICICI Lombard, HDFC Ergo, and Fincover.com for easy comparison and purchase.
You should purchase health insurance to avoid draining your personal savings in the event of sudden health complication. Your health insurance provider will take care of the medical expenses in the event of hospitalization.
Yes. The option to pay monthly premiums for hospitalization insurance has been offered recently. Please check the terms before you opt for it and remember, you need to keep your policy valid at all times by being prompt with premium payments.
Yes, you can have more than one hospitalization insurance plan and you can make claims under them to avail higher coverage. However a combination of a basic policy and a top-up plan and/or a benefit based critical illness plan may be more beneficial.
You can increase the sum insured for your health insurance policy at the time of renewal. The waiting period for pre-existing conditions and specified procedures will start at that time for the enhanced amount.
Yes. You can get coverage for yourself, spouse, kids, parents and parents in law under the same policy. You can opt for individual sum insured for each or a family floater. .
Yes, there are many benefits in purchasing health insurance while you are young such as low premium, lower rejection rates, getting over with your waiting period, cumulative bonuses.
No, there is no limit on the number of claims. However, your sum insured is the limit of your annual cover.
You must immediately contact your insurance provider plus provide necessary documents after hospitalization to complete the claim process correctly. Fincover provides users with a user-friendly application process that assists them throughout their journey.
The Fincover platform offers complete support through certified expert advisor guidance which helps clients through their claim process.
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