Top-5 Health Insurance in Bangalore

 

Here are the best Health Insurance Companies and they provide the best policies tailored for your needs, making sure you get the best protection for your health:

Tata AIG Insurance

  Tata AIG General Insurance offers health insurance plans designed to help you manage rising medical expenses. These plans also cover costs such as surgeon's fees, diagnostic tests, and other potentially high charges. Health insurance from Tata AIG safeguards you and your family against financial emergencies related to healthcare.

Care Health Insurance

 Care Health Insurance is provided by Care Health Insurance Limited, formerly known as Religare Health Insurance Company Limited. Established in 2012 as a subsidiary of Religare Enterprises, the company rebranded in August 2020. It offers a variety of health insurance plans tailored for individuals and families, including maternity coverage, senior citizen insurance, diabetes plans, heart insurance, cancer/critical illness coverage, OPD plans, and more.

HDFC ERGO Insurance

  HDFC ERGO is a joint venture between Housing Development Finance Corporation Limited, India's premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group. HDFC ERGO Health Insurance Formerly known as Apollo Munich Health Insurance and was established in 2002. It covers all kinds of health insurance in the Market.

Niva Bupa Insurance 

   Niva Bupa health insurance was established in the year 2008 as a joint venture between Max India and Bupa and started operations in 2010. Niva Bupa formerly known as MAX Bupa health insurance in the beginning and it changed in 2021. Niva Bupa offers a variety of medical insurance plans to individuals & floater plans. They provide coverage for hospitalization, COVID-19, critical illnesses, day care procedures, ambulance charges, etc.

Star Health Insurance

  Star Health Insurance plans are offered by Star Health and Allied Insurance Co. Ltd., established in 2006 as a joint venture with Allied Insurance. They provide a variety of health insurance options covering hospitalization costs, medical check-ups, critical illnesses, maternity expenses, AYUSH treatments, OPD services, ambulance fees, and even second medical opinions.

 

 

Advantages of Health Insurance Plans in Bangalore

With the surge in health-related concerns, there has been a significant escalation in medical treatment expenses. Additionally, the demand for Health Insurance Plans has grown considerably. Consequently, various Health insurance holds immense importance in financial management, providing a safeguard against unforeseen healthcare costs. Given the wide range of health insurance products on the market, it is crucial to understand the different choices available to select the most appropriate plan. In India, medical insurance policies are specifically tailored to meet varying healthcare requirements, ensuring that individuals and families can avail themselves of high-quality medical treatment.

 

 

Types of Health Insurance in India

Health Insurance Policies available in the market assist in alleviating the financial strain on your budget.

These insurance plans not only enable you to access the finest medical care for your health concerns but also relieve you from financial stress regarding medical expenses. Selecting the most suitable insurance plan can be somewhat challenging, as there are numerous Medical Insurance Plans available in India.

 

Individual Health Insurance

A Individual Health Insurance plan is intended for a sole individual. As the term implies, it is purchased by a single person. The individual who secures coverage under this plan is reimbursed for the costs incurred due to illness and medical treatments. This type of Health Insurance policy covers all hospital admission, surgical procedures, and pre- and post-treatment medication expenses until the insured sum is exhausted.

The premium amount for the policy is determined based on the applicant’s age and medical history. Furthermore, the insured person has the option to extend coverage to their spouse, children, and parents by paying an additional premium under the same plan. However, if the policyholder is insured for any pre-existing medical condition, a waiting period of 2-3 years is applicable before claiming the benefits.

Features of a Individual Health Insurance Policy

• Designed for an individual.
• The sum insured is distinct for each covered person.
• Includes hospitalisation expenses such as surgical procedures, daycare treatments, room charges, doctor’s consultations, and prescribed medicines.
• Applicable to individuals between 18 and 65 years of age.

 

Family Health Insurance

Commonly referred to as the Family Floater Plan, a Household Health Insurance Policy safeguards your entire family under a single coverage. This Health Insurance Plan for Families includes all family members, such as your spouse, children, and elderly parents. Only one family member is required to pay the premium, ensuring that the entire household is protected under a single policy.

If two family members require medical attention simultaneously, the insurance coverage can be claimed for both individuals up to the insured limit. The premium amount is determined based on the age of the eldest insured member under the policy. Therefore, it is advisable to avoid adding members above 60 years of age to your Household Health Insurance Plan, as they are more susceptible to health conditions, which may significantly increase the premium.

Features of the Family Floater Health Insurance Policy

• Covers the entire household under a single policy.
• The insured sum is distributed among all covered members.
• Offers financial protection for hospitalisation expenses, including consultation fees, daycare treatments, nursing services, surgical procedures, and prescribed medications.

 

Critical Illness Insurance

A Critical Illness Insurance Plan provides financial protection by disbursing a one-time lump sum payout upon diagnosis of life-threatening illnesses. When purchasing the policy, specific health conditions are pre-selected, and if you are diagnosed with any of the listed illnesses, you can claim the insurance benefits.

Unlike other medical insurance policies, hospitalisation is not a prerequisite for raising a claim under this policy. A confirmed medical diagnosis of the condition is sufficient to avail the benefits of Severe Ailment Insurance. The payout amount is predetermined and remains unaffected by pre or post-hospitalisation expenses. Below is a list of critical ailments covered under this policy:

• Major organ transplant
• Malignant tumor (Cancer)
• Aorta graft replacement surgery
• Renal failure (Kidney failure)
• Cerebrovascular accident (Stroke)
• Multiple sclerosis
• Paralysis
• Initial myocardial infarction (First heart attack)
• Coronary artery bypass graft surgery
• Primary pulmonary arterial hypertension

Features of Critical Illness Health Insurance Plan

• Grants a one-time lump sum amount upon confirmed diagnosis of a covered critical ailment.
• Available for lifetime renewal without age limitations.
• Requires the insured individual to survive for at least 30 days post-diagnosis.
• Some policies include free annual medical check-ups.
• The policy terminates once the lump sum payout is disbursed.

As the name suggests, this type of health insurance policy in India provides financial protection to individuals aged 65 years and above. If you are considering purchasing an insurance plan for your parents or grandparents, this is an ideal option.

Elderly Individual Health Insurance offers coverage for hospitalisation expenses and medication costs, whether the need arises due to a medical condition or an unforeseen accident. The policy also extends protection to post-hospitalisation expenditures. Additionally, certain added advantages such as home-based medical care (domiciliary hospitalisation) and mental health treatment (psychiatric benefits) are also included.

The upper age cap for eligibility is set at 70 years. Furthermore, the insurer may request a comprehensive medical examination before approving the policy. Given that elderly individuals are at a higher risk of health complications, the insurance premium for this policy tends to be relatively higher.

Features of Elderly Individual Health Insurance Plan

• Tailored for individuals above 65 years.
• Provides financial coverage for hospitalisation, domiciliary care, psychiatric treatments, and medical costs resulting from ailments or accidents.
• Premium rates are elevated due to heightened health-related risks.

 

An individual can opt for a Top Up Health Insurance plan if they require extended financial coverage beyond the standard policy limits. However, this plan includes a "Deductible Clause", meaning that when a claim is made, the payout occurs only after exceeding the pre-set threshold mentioned in the policy.

Additionally, a Super Supplementary Plan is also available. This enhances the insured amount by providing extra financial protection once the coverage limit of the primary health policy is exhausted.

Features of Top Up Health Insurance Plan

• Offers extended financial coverage beyond the base policy’s insured sum.
• Incorporates fixed deductibles.
• Super Top Up Plan available for increased coverage beyond the primary policy limit.

 

Maternity coverage insurance is specifically structured to manage the medical expenses related to pregnancy and childbirth, ensuring financial stability during this crucial life stage. This insurance can be availed as either a standalone policy or an add-on rider to an existing health insurance plan. It offers extensive financial protection for pre-natal and postnatal care, delivery-related costs, and newborn medical expenses, thereby easing the economic strain on families.

Features of Maternity Coverage Insurance Plan

• Includes pre-natal, post-natal, and childbirth-related costs.
• Certain policies may have a waiting period before benefits apply.
• May also cover newborn medical expenses, including vaccinations and pediatric care.

 

Personal Accident  Insurance

With the rising number of road mishaps, the necessity for dedicated accident protection plans has grown significantly. Many individuals lose their lives or suffer disabilities, and handling treatment expenses can be financially overwhelming. Thus, opting for a Personal Accident Coverage Insurance policy is a prudent decision. This plan offers a lump-sum payout to the policyholder or their family as financial support in case of an accident.

Certain policies also provide education and orphan benefits, covering children’s expenses. Additionally, some insurers offer add-on protections, including temporary total disablement coverage, worldwide emergency assistance, accident-related in-patient hospitalisation benefits, and even coverage for loan obligations in the event of an accident.

Features of Personal Accident Coverage Insurance

• Provides financial support for accidental death and both permanent or partial disability.
• Offers weekly compensation in case of temporary disability.
• Ensures a lump-sum payout to the family in the event of death or permanent disability.

 

Corporate Medical Coverage

Corporate Medical Coverage is among the emerging categories of healthcare protection plans gaining popularity. Numerous medium and large-scale organizations are now extending this insurance scheme to their workforce. This particular health coverage is acquired by the employer to safeguard their employees’ well-being.

The cost of this policy is notably lower than an Individual Health Insurance Plan. It is extended to a group of employees to address financial uncertainties and promote stability within the company.

Features of Corporate Medical Coverage

• Extends protection to employees and potentially their dependents.
• Basic benefits come at no extra cost; supplementary premiums may be required for dependent coverage.
• No initial waiting period applies.
• Encompasses hospitalisation charges, maternity benefits, outpatient care, and more.
• Might incorporate online medical consultations, yearly health assessments, and laboratory diagnostics.

 

Hospital Daily Cash Insurance

Among the various health insurance solutions, an innovative option is Hospital Daily Cash Insurance. If you are uncertain about opting for traditional health coverage, this plan offers a reliable alternative to help you understand how health insurance benefits function. It provides financial protection against unforeseen hospital expenses incurred during your hospital stay.

Once a patient is admitted to a hospital, the day-to-day medical expenses fluctuate based on the individual's health condition. In such cases, Hospital Daily Cash Insurance proves to be highly beneficial. Under this plan, the policyholder receives a fixed daily cash benefit ranging from ₹500 to ₹10,000, depending on the chosen coverage amount at the time of policy purchase.

Additionally, some policies offer Convalescence Benefits, which provide extra financial assistance if the hospitalisation period exceeds seven days. Other add-ons may include Parental Accommodation Benefits and access to a Wellness Coach for better post-hospitalisation recovery.

 

Mediclaim

Ailments and mishaps do not occur with prior warning. The same applies to the costs that one must incur once an individual is admitted to a hospital due to any of these. Hence, it is advisable to opt for a Mediclaim Policy. This policy guarantees reimbursement for your hospitalisation expenses in the event of any sickness or accident.

It offers financial protection for in-patient medical costs, covering expenditures such as surgical procedures, physician’s consultation charges, nursing fees, oxygen supply, and anaesthesia. The Mediclaim Policy is available in different variants, including group mediclaim, individual health coverage, and international medical insurance, among others.

Features of Mediclaim Insurance Plan

 Exclusively covers in-patient hospitalisation expenses, such as:

• Surgical expenditures
• Physician's consultation charges
• Nursing fees
• Oxygen supply and anaesthesia costs