Life is full of surprises, some good and some bad. You never know when any kind of emergencies might turn up and you end up spending a lot. Mediclaim Policy or health insurance plan are the driving factor in this matter. Several mediclaim policies have come up in India but not all are efficient as desired. The question hence arises, how will you choose the good from the bad? Well there are a few parameters that will help you to get hold of the best mediclaim policy in India.
Selection process for the best mediclaim policy / health insurance plan in India
a) Enhanced Features: Always look for the main features provided in a mediclaim policy. Some of the most common ones include pre and post hospitalization expenses, quick processing of cashless claims, cash benefits, day care procedures, etc. Here is the idea, the more the features; the better is your health insurance plan.
b) Rank in Customer Support: Check for how efficient is the customer support service because no one will like to use a mediclaim policy with poor customer support service. It happened to me once. I was using this policy plan when I had a small problem and tried contacting its customer support service. It took be almost 50 days to get through it. I had it all and moved to another insurance company. This kind of inconvenience might lead to severe problem.
c) Does it offer a health insurance plan for low premium: This is one of the most important features to consider before opting for a mediclaim policy. This is clear enough. If you can get a certain products at a lower cost, what is the point of buying the same at a higher price?
Below are 5 major mediclaim policies shortlisted on the basis of the mentioned 3 parameters.
1. Apollo Munich Easy Health Family Floater
Features offered:
- Offers for 2, 3, 4 and 5 year tenure.
- Offers in-patient treatment, pre hospitalization and post hospitalization expenses along with several day care procedures, organ donor expenses etc.
- A discount of Rs 7.5% on subscription of 2 years.
- The premium is Rs 7,787 per annum for 2 adults (18-34 yrs) and 2 kids (0-16 yrs).
- The premium is Rs 9,497 per annum for 2 adults (18-34 yrs) and 2 kids (0-16 yrs) on additional coverage for critical illness
2. L&T Medisure Classic
Features offered:
- No age limit for entry or renewals.
- In case of working hours, assured claim service assurance within 6 hours for cashless decisions or pay Rs 1,000 fixed penalty.
- In case of non working hours, the maximum waiting period would be 8 hours else penalty would be paid to you.
- Maternity expenses to be covered after 4 years.
- Covers ayurvedic treatment expenses too.
- Pre-existing diseases coverage after 3 years of continuous renewals.
- Additional coverage for hospital cash, ambulance charges and homeopathic treatment.
- 5% discount on 2 year policy.
3. Bajaj Allianz Health Ensure
Features offered:
- Covers pre-existing diseases after 2 years continuous renewals.
- Flat 2% expenses to be paid for pre and post hospitalization expenses.
- Non network hospitals settlement within a span of 14 days.
- No medical tests up to 55 years.
- 130 day care procedure coverage.
- Family discount of 5%.
- Renewals up to 75 years.
- Sum can be insured for Rs 50,000, Rs 75,000 and Rs 1 Lakh.
4. Apollo Munich Optima Restore
Features offered:
- Restoration benefit where any insured amount would be automatically extended to 100% without additional premiums.
- The insured amount would be enhanced by 50% in 1st year in case of any free claim year. The same will be extended to 100% in case of any free claim for 2nd year.
5. United India Health Insure Policy-Platinum
Features offered:
- Offers pre and post hospitalization expenses.
- Entry age limit of 35 years.
- Covers non-allopathic treatment too.
- Sub limits on room rent and ICU charges.
- Sum can be insured for Rs 1 Lakh to Rs 10 Lakhs.
- 5% applicable family discount
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Akshay Agarwal
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