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HOW IMPORTANT IS YOUR HEALTH INSURANCE?

  • 19 Feb, 2019
  • |
  • Team Credit Karo

HOW IMPORTANT IS YOUR HEALTH INSURANCE?

"If you are taking my scooter to the workshop, get it serviced it has almost no brakes. Yesterday only I know how I saved myself from banging into a potato vender!" said Mrs. Salgaonkar to her husband while both of them were leaving for work. Skinflint as he was, Mr. Salgaonkar replied, "We already have many expenses this month, I can only get this fixed next month." After this they both left.

It was around Eleven Forty-Five in the noon when Mr. Salgaonkar answered a phone call learning that his wife has met with an accident and was admitted to the city hospital. Reaching to the hospital Mr. Salgaonkar came to know that she has broken thigh bone and it was a case of severe internal bleeding that need to be operated urgently.

Such mis happenings don’t warn before coming. Mr. Salgaonkar had never thought through that such a small act of carelessness on his part would cost his wife a fight for her life in the hospital someday. But one thing that he had taken care of earlier was surely going to help him in this time of crisis. He had got an insurance policy in the name of his wife.

We might not be as careless as Mr. Salgaonkar but accidents don't ask before occurring. One should always have a backup plan. So, below we have listed the benefits of having an insurance policy.

 

About Health Insurance Policy:

Health insurance is a type of insurance coverage that covers the cost of individual's medical and surgical expenses. Health insurance covers the comprehensive cost of hospitalisation which include Doctor fees, Medical Test, Blood Test, Cost of ambulance, Room Charges, Medicines, Diagnostic tests etc.     

 

Insurance provider

Religare Health Insurance

Max Bupa

Star Health

Apollo Munich

Royal Sundaram

Plan Name

Religare NCB Super Premium

Health companion

Star Comprehensive

Optima Restore

Lifeline Supreme

Claim Settlement Ratio

100%

99%

98.78%

98.62%

96%

Policy Term Name

5 years - Lifelong

18 years - Lifelong

18 years – 65 years

18 years to 65 years

18 years to lifelong

Sum Insured

3L – 75Cr

2L – 1Cr

5L - 25L

3L - 50L

2L - 75L

 

 

 

 

 

 

 

 

 

Other Health Insurance Policies:

 

Religare Health Insurance - Religare Health Insurance company limited is an India Insurance firm established in July 2012, by Religare Enterprise limited.

Religare Health Insurance offers products in the retail segment for health insurance, Critical Illness, Accident, Top-up coverage and Maternity Benefit.

 

Top Benefits of Religare Health Insurance:

 

1) Religare Group of more than 4900+ hospitals that offers Cashless Hospitalisation in India.

2) Medical Expenses that are incurred before 30 days of hospitalisation are covered.

3) Medical Expenses that are incurred after 60 days of hospitalisation are covered.

4)  At Religare, Customers get no Claim bonus / Multiplier benefit where there is 10% increase Sum Insured and up to 150% of every claim per year.

5) The Sum Insured will be reinstated for non-related illness once in a year if the original Sum Insured plus no Claim get exhausted in a year.

Max Bupa Health plan

About - MAX Bupa Health insurance is a joint venture between Max Indian Limited and UK based healthcare services expert. It is spread over in 190 countries which makes it a global insurance company. It has an expertise over health and insurance related services which covers hospitals clinical research and life insurance.

At Max Bupa customers get a No-claim bonus/multiplier benefit where there is 20% increase sum is insured and up to 100% base sum insured for every claim per year, the flexibility of covering up to 19 relationships and hospital accommodation without any limit.

Max Bupa stands out because of their services like premium facilities, refill benefits, complimentary health check-ups, Alternative medical cover, Top-up facility and no co-payment at any age.

 

Top Benefits of Max Bupa Health Companion Plan:

 

1) Max Bupa has a Group of 4600+ hospitals that offer cashless hospitalization approval within four hours at a network hospital.

2) Medical Expenses that are incurred before 30 days of hospitalisation are covered.

3) Medical Expenses that are incurred after 60 days of hospitalisation are covered.

4) At Max Bupa it covers room rent charges without any capping of the charges, it covers medical expenses of all the insured family members who are hospitalised for treatment.

5) At Max Bupa Health Companion, you can get treatment in case of an accident within   24 hours of buying a policy, so you can focus upon long term investments without worrying about medical and health emergencies.

 

Star Health Comprehensive

About - Star Health & Allied Insurance started operating in the year 2006 with interests in health insurance, Overseas Medical claim policies and personal accident. It has a capital base of about Rs 1050 crores.

Star Heath offers a vast range of health insurance products at reasonable prices which makes for every human to get their health secured lifelong.

The major promoters of the company are -

1) Oman Insurance Company

2) Leading NRI'S

3) Indian Business Houses

4) ICICI Ventures

5) Sequsia Capital

 

Top benefits of Star Health Comprehensive

1) Star Health has a largest 8400+ hospitals that offer cashless hospitalization approval

2) All bariatric surgical procedures and its complications are covered under the Star Health Insurance.

3) It provides 100% benefit of lifelong guaranteed renewal. Star Health won't leave in between the middle of the journey once the individual enrolled, can continue to stay throughout one's life, and provided to renew their policy on early bases.

4) In Star Health no-claim bonus further increase the sum insured by 50% of every claim free year up to 100%.

5) It provides air ambulance assistance worldwide.

 

Apollo Munich Health plan

About - Apollo Munich Optima Restore plan started in the year 2007. It is a joint venture between Apollo Hospitals group and Munich health.

Apollo Munich is a Germany based company. In India Apollo Munich offers best health insurance for family and individual plans. Other benefits like day care treatment, hospitalisation at home, room rent eligibility, ambulance cover, early basis health check - up and other top-up plans like dengue care.

 

Top benefits of Apollo Munich Health Plan

1) Max Bupa has a Group of 4605+ hospitals that offer cashless hospitalization approval within four hours at a network hospital.

2) Medical Expenses that are incurred before 60 days of hospitalisation are covered.

3) Medical Expenses that are incurred after 180 days of hospitalisation are covered

4) The basic sum insured of the policy which will go up to the maximum of 100% on your first claim.

5) The moment an insured person taken takes his first claim it will automatically provide an additional amount equivalent to the basic some insured in the policy now the person can utilise the remaining and restore amount for next hospitalisation.

 

Royal Sundaram Health Insurance

 

Royal Sundaram Health Insurance Company started in the year October 2000. Royal Sundaram General Insurance Company Insurance known as Royal Sundaram Alliance. It is a first private general insurance company.

Royal Sundaram provides general insurance to individual, families and businesses. The company provide general insurance Health, Personal Motor accident, Home and Travel insurance.

Benefits of Royal Sundaram Health insurance

1) Royal Sundaram of more than 3000+ hospitals that offers Cashless Hospitalisation in India.

2) Medical Expenses that are incurred before 30 days of hospitalisation are covered.

3) Medical Expenses that are incurred after 60 days of hospitalisation are covered.

4) It provides 100% benefit of lifelong guaranteed renewals.

5) Royal Sundaram provides day care treatment which can happen less than 24 hours due to advancement of technology like Cataract, Stone, Radiotherapy.

 

So, as per our study these are top 5 health insurance companies in India and their benefits respectively, we at creditkaro work towards bringing you information regarding different banking, deposit and lending products. We Invite any suggestions and advisory related to our blogs so feel free to drop in suggestions as it will help us to serve you better. We Hope to bring you more such interesting content in the future, till then keep following creditkaro.

 

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