Compare Health Insurance: Compare 20+ Health Insurance Plans

What is Mean By Compare Health Insurance?

Is it a good idea to compare health insurance before you buy it? Yes, absolutely! There are a few things you need to keep in mind while doing so. Rather than comparing just one component of a policy, consider the entire package. It is ideal to compare plans based on their premiums, coverage, services, exclusions, and inclusions.

Why Compare Health Insurance Plans Online?

Comparing health insurance plans online saves you time, money, and effort. Here are some reasons why you should compare health insurance/mediclaim plans online.

Quotes are free - To know the health insurance premium for a particular policy, you don't have to pay any money. Online quotes are available through the insurer's website. You can get an approximate quote by sharing basic information (such as your age, gender, and location) and selecting your preferred health insurance plan.
Convenience at its best - Mobile, laptop, or other similar smart devices can now be used to compare the features and quotes of a health insurance policy. Buying or selecting a health plan does not require a visit to an agent's office. Choose your preferred plan online, and buy whenever it is convenient for you - even on Sunday!
Command your domain - By comparing different policies' inclusions and exclusions, you can find the best match since all the necessary information is available online. Similarly, premiums charged, services offered, and claim settlement processes can be compared.

Things To Check While Comparing Health Insurance Policies

A health insurance plan's value is determined by the following factors. When comparing health insurance policies in India, keep these factors in mind.

Insured amount - The insurer will cover you up to this amount. There is a direct relationship between the health insurance premium and the sum insured (SI). As a result, a policy with a low premium might have a lower SI. If you are in need of substantial financial assistance, ensure you have an adequate SI.
Aspects of coverage - There is more coverage than just the sum insured. The scope of its application is much broader. This refers to the policy's inclusions and exclusions. Make sure the policy covers pre- and post-hospitalization, COVID-19, daycare, etc.
Hospitals within the network - Ensure that the insurer you choose has a large network of hospitals, including a number of prominent medical facilities. The insurer has a tie-up with these hospitals to facilitate cashless claims (direct claims settlement between the insurer and the hospital). Make sure the insurer's network includes top hospitals in your area.
Period of waiting - You aren't covered against all illnesses from the start of your insurance policy. To raise a claim against an illness, you may need to wait a certain period (days/months/years). During this time, the waiting period is in effect. In most cases, this period applies to diseases that you are already diagnosed with before purchasing health insurance (pre-existing diseases). To avoid rejection of claims, check the waiting period of the policy.
Sub-limits - Certain coverages may be subject to submission. For example, if your claim amount falls below the sum insured limit, but your policy has a 50% sub-limit on Ayurvedic procedures, then you will receive 50% of the cost of the procedure as a settlement amount. In this case, the settlement will be Rs. 50,000 if the procedure has a 50% sub-limit of Rs. 1, 00,000. Keep an eye out for policies with manageable sub-limits or no sub-limits at all.
The co-pay - Co-payments are payments you must make towards the settlement of a claim under a policy. A claim settlement amount of Rs. 5,00,000 and a 20% co-pay clause mean that you must pay Rs. 1,00,000 (20% of 5,00,000). For simplicity, deductibles and other charges are not taken into account in the example. By sharing the burden of claim settlement with the insurer, a co-pay clause reduces your policy premium.
Rent limit for rooms - There are several factors to consider when comparing premiums, coverage, and claim settlement amounts. There is a limit on how much can be spent on hospital rooms. Limits can either be expressed as a percentage or as a fixed amount (e.g., Rs. 10,000 per day). Room rent is subject to the proportionate reduction clause.
The add-ons - Occasionally, insurers package add-ons with comprehensive health insurance policies. The premium may increase as a result. Comparatively, reducing the Comprehensive Plan to a bare minimum will reduce the premium. Additionally, not all insurers offer all add-ons. Add-ons that perform the same function might even have different names.
Reviews on the Internet - Compare health insurance providers online by checking their online reviews. Then, you can make an informed decision based on the experiences of other customers.
Long-term policies - A policy that covers you for more than a year will save you time, money (lower premium), and effort since health insurance needs to be renewed periodically. For your chosen policy, check if the insurer offers long-term coverage or lifetime renewal options.
Setup in digital format - The need of the hour is to choose an insurer with a digital setup. Buying, renewing, and claiming health insurance is easy with digital insurers. Mobile applications and responsive websites streamline insurance-related processes.

Benefits of Comparing Health Insurance Plan Online

Before you purchase a health plan, you should research it online and compare them.

Best health insurance plan - Health risks are something you know better than anyone else. Consequently, you are in the best position to understand your health insurance needs. Instead of being sold what the agent wants, you buy what you want.
A good value for money - A health insurance plan that is the least expensive does not necessarily provide the best value for money. In order to find the right policy for you, you need to balance your requirements with the policy's features. Choosing a plan that is both affordable and meets your health insurance needs is possible by comparing plans.
Having peace of mind - When comparing health insurance policies online, users have to browse different plans, and review the conditions, such as the room rent, the waiting period, and the claims process. Keeping your requirements in mind will ensure that your final decision is based on concrete analysis.

Comparing Health Insurance Online v/s Offline

Points to compare	Compare Health Insurance Online	Compare Health Insurance Offline
Price Aspect	Available for a cheaper price.	Costs are higher as compared to online.
Documentation	No such documentation is required.	Lots of documentation is required.
Clarity	When buying a policy online there is a lot of clarity in the procedure to buy.	It is a cumbersome process and the buyer sometimes gets confused.
Adaptability	Much suited to the process and buyers can easily adapt to it as it is easy.	The process is lengthy and the buyers are less adaptable to it.
Comparing Different Plans	Easy to compare different plans online.	As less information is available it gets difficult to compare.
Quick and Convenient	As it happens at the place of the buyers it is very easy, quick, and convenient.	The buyer needs to travel to different places to buy the policy so it gets less quick and convenient.
Feedback	Buyers can go through the previous feedback and buy accordingly.	No such feedback is available.
Consumption of time	Less time is consumed in buying the policy.	A lot of time is consumed in selecting and buying a policy.

What Happens if You Do Not Compare Health Insurance?

When you decide to buy health insurance, you take pride in the decision, but what's the first thing you do? Find a cheap premium, if not a cheaper premium!
Beware of policies with low premiums just to fit your budget! Medical insurance will cover costs ranging from pre-and post-hospitalizations to organ donation and everything in between. In choosing the right policy, you should not consider monetary benefits and frills such as premiums, cash for hospitals, and ambulances. Within a blink of an eye, the medical expenses you see today will be a distant memory of tomorrow! In the event of a medical emergency, you/your family can certainly decide what kind of support you want.

FAQ

Can I cancel my policy and if yes will I get my premium back?

Yes and Any premiums you have already paid should be refunded to you.

Can a person have more than one policy?

Yes a person can do buy more than one policy.

What will happen if my policy lapsed when I am hospitalised?

There is no need to panic if your health insurance lapses during hospitalization. Explain your situation to your insurer

Is maternity covered in health insurance policies?

Health insurance policies typically include this benefit as a rider or add-on.

What is copayment in health insurance?

A copayment is a portion of the claim that the insured agrees to pay from his or her own pocket, regardless of the amount of the claim.

Why should I buy a critical illness cover?

In the event of a serious illness, such as heart attack, cancer, or stroke, critical illness insurance can provide financial support to employees and their families. Employees receive a lump sum payment as a benefit.

How long is a health insurance plan renewable?

It has a lifetime of renewal.

What is a waiting period?

An insurance waiting period is the time during which you must wait before receiving insurance benefits.