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5 Best Medical & Health Insurance Plans in India (2020)

Best Medical Insurance Plans in India

In this article, I’ll discuss with you some of the best medical insurance plans in India for 2020. Let’s go.

If you’re reading this article, it means you already know what a medical insurance plan is. Congratulations! You’re better off than many in India.

Reason? Most people in India think insurance is all about life insurance. Medical insurance is not so popular – unfortunately.

But now, due to the issues going around, more and more people are getting aware and educated about it.

In the year 2016, the NSSO released the report “Key Indicators of Social Consumption in India: Health” based on its 71st round of surveys. The survey carried out in the year 2014 found out that, more than 80% of Indians are not covered under any health insurance plan! (Source)

More than 80% of Indians are not covered under any health insurance plan

NSSCO Report 2016

Now, that is alarming isn’t it?

But these days when you get sick and go to a hospital, they usually ask for health insurance. So having a good one, is usually a good practice.

Benefits of having health insurance

  • Financial protection in case of emergencies.
  • Protection for family and dependants.
  • Cover against surprising medical bills.
  • Access to superior medical treatment.

These days, there are many medical insurance plans that offer superior medical treatment. And insurance plans protect against emergency medical costs.

In this age and our current lifestyle, medical insurance is a good investment. So, here are the best medical & health insurance plans in India.

Best Health Insurance in India

  1. Max Bupa Health Premia Insurance Plan
  2. Religare Care Health Insurance Plan
  3. Apollo Munich Optima Restore Plan
  4. Star Family Health Optima Plan
  5. HDFC Ergo Health Suraksha Gold Plan
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1. Max Bupa Health Premia Insurance Plan

If you’re looking to get you and your family covered against emergency medical costs, then I think Max Bupa Health Premia is a good plan to consider buying.

What this medical insurance plan covers

  • Maternity and newborn coverage
  • Health checkup
  • Hospitalisation costs
  • New age treatment coverage
  • Pre & post hospitalisation expenses
  • Emergency assistance

Why is it good

  • Great coverage & benefits for whole family.
  • Great features covering emergency medical expenses.
  • Good value for money.
  • Great network of hospitals.

How much will it cost?

Here’s a sample costing estimate for the entire family under their Silver plan.

  • Cover maximum – Up to 7.5 Lakh Rupees.
  • Health checkup – Up to Rupees 1,875 per person.
  • Premium – 12,488 /Year

2. Religare Care Health Insurance Plan

This plan from Religare is a good choice for small families (couples with kids) who wants to protect themselves against urgent medical treatment expenses from injury, illness, or accident. They boast of a 95% insurance claim settlement ratio.

This plan is very flexible and offers a maximum sum insured from Rs. 6 Lakhs to 6 Crores (unlike MaxBupa).

What this medical insurance plan covers

  • Annual health checkup.
  • Robotic surgery.
  • Emergency ambulance services.
  • Hospitalization expenses.
  • Post hospitalization expenses.
  • Room rent.
  • ICU charges.

Why is it good

  • Good range and choice of the sum insured.
  • Great coverage & benefits.
  • Plenty of addons (additional cost).
  • Good value for money for long term coverage.
  • Good network of hospitals (7,400+).

3. Apollo Munich Optima Restore Plan

With a sum insured of Rs.3 Lakhs to 50 Lakhs, this policy can be taken from anyone from 91 days to 65 years. No wonder why it is so popular in India.

Sum assured is not that great compared to Religare’s above-mentioned plan, but the features are amazing. Hospital coverage is good and the claim process is generally reported as effortless.

An interesting (and unique) feature of this plan is that it covers domiciliary treatment, which is the treatment done at home.

What this medical insurance plan covers

  • Comprehensive health checkup
  • Ambulance services 
  • Cover for daycare procedures & inhouse treatment
  • Increase in sum insured for every 2 claim-free years

Why is it good

  • Good sum insured.
  • Great coverage & benefits.
  • Have some unique features like in-house treatment.
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4. Star Family Health Optima Plan

Let’s say you’re a small family of dad, mom and kids and is looking for a good medical insurance plan that can cover all of you. Then, this might just be the best plan out there.

Star Health Optima Plan is an economical plan, one that doesn’t cost much but provide the basic necessary coverage. For every year, where you don’t claim anything, health check-up is gifted free under this policy.

It covers pre-hospitalization, and post-hospitalization, domiciliary hospitalization (like Apollo Munich), donor expenses for organ transplantation, coverage for newborn baby cover etc.

What this medical insurance plan covers

  • In-patient hospitalization.
  • Treatment at home (For a period exceeding three days).
  • Air ambulance charges up to 10%.
  • Pre and post hospitalization expenses 60 days and 90 days respectively

Why is it good

  • Economical plan.
  • Flexible.
  • No un-necessary frills.

5. HDFC Ergo Health Suraksha Gold Plan

From 3 Lakhs to 10 Lakhs available on sum assured, plus some wisely crafted features, this medical insurance plan is an excellent choice for those looking to get good value for money.

Loaded with features like organ donor expenses, inpatient hospitalization, and day care procedures , this plan has just what you need to cover the normal medical expenses.

I wish if it was more flexible with addons but they do have the different tiers (Gold, Platinum etc) where you can choose the different sum assured options.

What this medical insurance plan covers

  • Treatment at home (For a period exceeding three days).
  • In-patient hospitalization charges.
  • Pre and post hospitalization expenses 60 days and 90 days respectively

Why is it good

  • Economical plan.
  • Lean and without any frills or unwanted benefits.

So, there you have it. The best medical and health insurance plans available in India as of now (2020).

If you have taken any of the above mentioned plans, please let me know in comments what your experience has been. Thank you.

Which is the best medical insurance plan in India?

The best medical insurance plan in my opinion is the MaxBupa Health Premia plan. But all the other plans mentioned in this article are also great options.

What is free look period?

Free look period in medical insurance plans is defined as a required period of time in which a new policy owner can terminate the policy without penalties.

Which is the cheapest medical insurance policy in India?

The cheapest medical insurance policy in India is Star Family Optima plan. However you can pick and choose features and other policies can get cheaper as well.

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About the author

Mani Karthik

In my pursuit of happiness, I share everything I've learned, on this blog. From productivity to spirituality and everything in between. I quit my cozy job in the USA to pursue my passion - blogging. Today, I make five times what my US job paid. More than the money, I love the freedom it gives me to make my own choices. Come join me. Start blogging! :) WhatsApp : +0014084894785

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