Insurance sector is growing rapidly in India and more and more people are becoming aware of the advantages of having insurance to themself. Couple of decades ago, health insurance was assumed to be a waste of money and most people did not find any great returns from it and therefore did not want to invest in one. Today, the insurance sector has many players and offers some of the best insurance schemes not only limited to life but also health and term insurances.

There are many best health insurance in India providers and customers now have a plethora of options to choose from unlike a few decades ago when LIC was the monopoly in insurances. Today, many banks and private insurance providers have partnered together to bring forth attractive plans that cover a family from any mishappenings and provide great options for coverage and claims.

What are Health Insurances?

Health insurance is a type of insurance that covers the insured and their family from any health related issue that requires the insured to spend on hospital expenses. By spending a certain amount of money as premium to the policy, the insurer provides a comprehensive plan that covers an agreed level of benefits as acceptable to the company and the insured. This could include a host of features such as –

• Hospital bills

• Admission /room charges

• Scans/X rays

• Medicines and injections

• Doctor fees

• Surgery (minor and major)

• Accidental cover

• Ambulance or transportation costs

• Attendee travel/stay costs

• Vaccines etc

Not all insurance providers cover all of these above mentioned clauses. Based on each insurance provider, there may be a few additions and removal of certain clauses. This is agreed by the insured and the insurer mutually before assuming the policy. Most insurance companies provide a health insurance card that is to be presented at the time of hospital admissions and paperwork so that the hospital can file and claim the charges accordingly.

In emergency situations, the insurer can contact the provider a couple of days later but in all other cases, the insurance provider and the hospital needs to be notified prior to admission. Some insurance providers give cashless claims where the client does not need to pay the clauses that are covered. In other types of policies, the bills are to be settled first by the client and are then reimbursed by the insurance company.

Cost of a Health Insurance in India

There are many best health insurance in India that is brought forth by Indian and global insurance providers. The cost of health insurance in India varies from one company to another and also depends upon the policy type that the insured party chooses. Some policies have a lot of coverages and clauses and could cost a bit higher around Rs. 25,000 p.a, but these ones provide a host of benefits when a person claims them. Some policies only provide a basic plan making the premiums as low as Rs 5000 per annum but may have very minimal coverages.

The cost of health insurance also depends on the number of family members covered, the city that they live in and the age of the family members. The lower the age, the lesser the premium. The fewer the members, the lesser the premium and the bigger the city the higher the premium. Tier 1 cities usually charge higher than Tier 2 followed by Tier 3 cities.