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Health Insurance

The Best Health Insurance Companies in India for 2024

The Best Health Insurance Companies in India for 2024

Navigating the complex world of health insurance can be daunting, especially when looking for the best provider that aligns with your healthcare needs and financial constraints.

In this comprehensive guide, we delve into the intricacies of selecting the best health insurance company in India for 2024, offering you a detailed analysis to make an informed decision.

From understanding policy offerings to evaluating customer service, we cover all aspects to ensure you choose a provider that stands by you in times of need.

Table of Contents

  • Introduction to Health Insurance in India
  • Criteria for Evaluating Health Insurance Companies
  • Top Health Insurance Companies in India for 2024
  • Step by Step Guide to Choosing the Right Policy

Introduction to Health Insurance in India

Health insurance in India has evolved significantly, with numerous companies offering a variety of plans to cater to different demographics and medical needs. The right health insurance policy not only provides financial security in times of medical emergencies but also ensures access to quality healthcare services without depleting your savings.

indian lady doctor
According to the Global Burden of Disease study, India accounted for approximately one-quarter of the world’s total CVD deaths, with nearly 2.8 million people dying from heart conditions in 2016 alone.

Criteria for Evaluating Health Insurance Companies

When evaluating health insurance companies to determine which one best suits your needs, it’s essential to consider a comprehensive set of criteria. These criteria help ensure that you select a provider that offers reliable coverage, excellent customer service, and financial stability, among other factors.

Here’s an in-depth look at the key criteria for evaluating health insurance companies:

Claim Settlement Ratio (CSR)

The Claim Settlement Ratio is a crucial indicator of an insurance company’s reliability and efficiency in handling claims. It represents the percentage of claims the insurer has settled against the total number of claims received during a specific period. A higher CSR suggests that the company is more reliable in settling claims, which can be particularly reassuring in times of medical emergencies.

Network Hospitals

The extent and quality of an insurer’s network of hospitals are vital for availing cashless treatment facilities. A wide network means you’re more likely to find a network hospital close to your location, making it more convenient to receive timely medical care without worrying about upfront payments.

Coverage and Benefits

The scope of coverage and the benefits offered by a health insurance plan are critical in ensuring that your medical needs are adequately met. Look for policies that offer comprehensive coverage, including pre and post-hospitalization expenses, daycare procedures, critical illness cover, and maternity benefits, among others. Additionally, check for any sub-limits, co-payments, or exclusions that might affect your coverage.

Premium vs. Benefits

While evaluating health insurance options, it’s important to balance the cost of the premium with the benefits provided. The cheapest plan is not always the best if it doesn’t cover essential health needs. Conversely, the most expensive plan might offer benefits you don’t necessarily need. Aim for a plan that offers the best value for money, considering your health requirements and financial capability.

Customer Service

The quality of customer service is a significant factor, especially when you need assistance with your policy or need to file a claim. Responsive, knowledgeable, and helpful customer support can make the insurance experience much smoother and less stressful. Trustpilot can be a valuable source of customer reviews.

Policy Terms and Conditions

Understanding the terms and conditions of a health insurance policy is crucial before making a decision. Pay close attention to the waiting periods for certain conditions, coverage limits, policy renewal terms, and any exclusions to ensure there are no surprises when you need to use your insurance.

Additional Benefits and Features

Some health insurance companies offer additional benefits and features such as no-claim bonuses, free health check-ups, wellness programs, and discounts on premiums for maintaining a healthy lifestyle. These extras can add significant value to your policy.

Insurer’s Financial Stability

The financial stability of an insurance company is an important consideration, as it reflects the insurer’s ability to meet its obligations towards its policyholders. You can look into the insurer’s solvency ratio, which indicates whether the company has sufficient assets to cover its liabilities.

Customer Reviews and Ratings

Customer reviews and ratings can provide insights into the experiences of other policyholders with the insurer. They can highlight the company’s strengths and areas for improvement, helping you make a more informed decision. Again, Trustpilot can be very useful to assess the customer service of an insurance company.

Ease of Buying and Renewing Policies

The process of purchasing and renewing policies should be straightforward and convenient. Many insurers now offer online platforms for these processes, making it easier for customers to manage their policies. By carefully considering these criteria, you can evaluate and compare different health insurance companies and their policies to find the one that best meets your specific health care needs and financial situation.

Top Health Insurance Companies in India for 2024

To assist individuals in selecting the most suitable health insurance provider in India for their specific needs, we’ve analyzed various insurers based on their performance metrics and unique offerings.

Here’s a curated list, highlighting the distinct advantages of each company:

Note: Data and performance metrics are as of 2022-23.

1. SBI General Insurance Co. Ltd.

With a Claim Settlement Ratio of 73.92% and a Solvency Ratio of 1.72, SBI General Insurance boasts a network of over 6,000 hospitals.

Best Suited For: Those who value the assurance and comprehensive coverage provided by a government-affiliated insurer. SBI General is renowned for its wide-ranging policies that cater to both individuals and families, emphasizing security and trust.

2. Tata AIG General Insurance Co. Ltd.

Tata AIG presents a Claim Settlement Ratio of 78.33% and a Solvency Ratio of 1.97, supported by a network of 10,000+ hospitals.

Best Suited For: Policyholders in search of extensive customization through add-ons. Tata AIG’s offerings include unique options like global coverage and consumables expenses, allowing for a tailored insurance experience.

3. ManipalCigna Health Insurance Co. Ltd.

ManipalCigna features a Claim Settlement Ratio of 93.5% and a Solvency Ratio of 1.57, with 18,000+ network hospitals.

Best Suited For: Working professionals and their families, offering corporate health solutions that encompass a variety of benefits, including OPD and wellness programs, catering specifically to the needs of the employed demographic.

4. Care Health Insurance Ltd. (Previously Religare Health Insurance)

Care Health Insurance stands out with a Claim Settlement Ratio of 95% and a Solvency Ratio of 1.82, alongside an extensive network of 22,900+ hospitals.

Best Suited For: Those requiring broad international coverage, ideal for globe-trotters or individuals seeking medical treatments abroad, offering expansive coverage for overseas medical expenses.

5. Niva Bupa Health Insurance Co. Ltd. (Previously Max Bupa)

Niva Bupa showcases a Claim Settlement Ratio of 91.20% and a Solvency Ratio of 1.79, with a network of 10,000+ hospitals.

Best Suited For: Clients desiring highly customizable health plans, Niva Bupa provides flexibility in coverage, allowing policyholders to adjust their plans based on specific health needs and financial considerations.

6. Star Health and Allied Insurance Co. Ltd.

Star Health records a Claim Settlement Ratio of 85.47% and a Solvency Ratio of 2.03, with 14,000+ network hospitals.

Best Suited For: Elderly individuals and those with existing medical conditions, offering specialized plans that provide thorough coverage without long waiting periods, catering to the senior demographic and those with specific health concerns.

7. ICICI Lombard General Insurance Co. Ltd.

ICICI Lombard boasts a Claim Settlement Ratio of 93% and a Solvency Ratio of 2.51, with 7,500+ network hospitals.

Best Suited For: Wellness-focused individuals, offering unique health and wellness programs that encourage and reward a healthy lifestyle, ideal for those prioritizing preventive healthcare.

8. HDFC ERGO General Insurance Co. Ltd.

HDFC ERGO features a Claim Settlement Ratio of 100% and a Solvency Ratio of 1.75, with 12,000+ network hospitals.

Best Suited For: Families in need of broad coverage, including maternity and newborn care. HDFC ERGO’s family plans offer an optimal blend of comprehensive benefits and affordability.

9. Bajaj Allianz General Insurance Co. Ltd.

Bajaj Allianz has a Claim Settlement Ratio of 93% and a Solvency Ratio of 3.91, with 11,000+ network hospitals.

Best Suited For: Individuals looking for a balance of wide-ranging coverage options at reasonable premiums, with plans that cater to various needs, including critical illnesses and care for senior citizens.

10. Acko General Insurance Co. Ltd.

Acko General Insurance is marked by an 83.88% Claim Settlement Ratio and a Solvency Ratio of 4.26, with over 14,300 network hospitals.

Best Suited For: Digitally savvy customers seeking efficient online policy management and claim settlement processes. Acko leverages technology to provide a streamlined and user-friendly insurance experience.

Step by Step Guide to Choosing the Right Policy

Choosing the best health insurance company in requires careful consideration of various factors, including policy coverage, premiums, CSR, customer service, and network hospitals.

By following the step-by-step guide you can make an informed decision that ensures peace of mind and financial security.

Choosing the most relevant health insurance policy for yourself as well as your loved ones is critical. Here are some tips, tricks, and actionable advice to guide you through the comparison process effectively:

  • Assess Your Health Status: Consider your current health condition, medical history, and any ongoing treatments or medications. This will help you determine the level of coverage you need.
  • Family Health History: If you’re opting for a family plan, take into account the health needs of all family members who will be covered under the policy.
  • Comprehensive Coverage: Look for plans that offer extensive coverage, including hospitalization, pre and post-hospitalization expenses, daycare procedures, critical illnesses, and maternity benefits, if applicable.
  • Exclusions and Limitations: Pay close attention to what is not covered by the policy and any specific limitations or caps on certain types of treatments or benefits.
  • Cashless Facility: Verify that the network hospitals offer cashless treatment, which can significantly ease the process during medical emergencies.
  • Insurer’s Reputation: Customer reviews can provide insights into the insurer’s customer service, claim settlement process, and overall satisfaction levels of existing policyholders.
  • Reliability: A higher CSR indicates that the insurer has a good track record of settling claims, which can be a crucial factor in times of need.
  • Value-Added Services: Some insurers offer additional benefits such as free health check-ups, wellness programs, discounts for leading a healthy lifestyle, and no-claim bonuses. These can add extra value to your policy.
  • Consult Experts: If you find the comparison process overwhelming, consider seeking advice from health insurance advisors or financial planners who can provide personalized recommendations based on your specific needs.

Choosing the best health insurance company in India for 2024 requires careful consideration of various factors, including policy coverage, premiums, CSR, customer service, and network hospitals. By following the step-by-step guide you can make an informed decision that ensures peace of mind and financial security.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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credit cards

How to use a Credit Card?

How to use a Credit Card
How to use a Credit Card

How to use a Credit Card?

Credit cards are an important financial instrument that must always be used wisely. Credit cards offer flexibility and convenience. However, careless use can often lead to unnecessary financial liabilities and debt. Hence, in this article, we will guide you on how you can use a credit card responsibly.

10 Helpful Tips on How to Use you Credit Card Responsibly

  1. Know Your Credit Card Terms and Conditions: It is advisable to thoroughly read and understand all the terms and conditions before using your credit card. You must know about the card fees and charges, like the annual fee, joining fee, the interest penalty charges, and so on.
  2. Create a Budget: It is advisable to create a monthly budget that helps you keep track of your income and expenses. Make sure that your credit card usage is in accordance with the budget you have set. You must also avoid unnecessary spending with the card to attract credit debt.
  3. Pay Balance in Full: You must always aim to make the full payment on your credit card rather than making a partial payment. This will help you improve your credit score and also reduce the interest that would be levied otherwise.
  4. Duly Check Credit Card Statement: You must regularly check your monthly credit card statement to rule out any unauthorised or fraudulent transactions. Immediately report these transactions to the bank, if any.
  5. Be Mindful of Credit Usage: It is advisable to keep track of your credit usage so that you don’t overspend against the credit limit. Going over the credit limit will negatively harm your credit (cibil) score if you fail to make the payment on time.
  6. Make Payment Before Due Date: Always make sure to make your credit card payment before the due date, as this will improve your credit score. Late payments will not only attract late penalty fees but also harm your credit score.
  7. Make Payments at Authorized Merchants: Be vigilant about making payments via unauthorised merchants or fraudulent websites to avoid any kind of scam. Making payments through authorised merchants and websites will eliminate the risk of misusing your credit card.
  8. Redeem Cashback/Reward Points: If your credit card offers you cashback rewards or points, make sure to use them wisely. You can redeem these points to avail of discount offers on hotel stays, travel tickets, shopping, and other categories.
  9. Choose Right Credit Card: Make sure to choose a credit card that is in alignment with your needs or preference. For instance, if you are a frequent traveller, it is advisable to opt for a travel credit card so you can maximise travel discounts and other benefits.
  10. Seek Professional Guidance: In case you are struggling with credit card debt, don’t hesitate to seek professional financial advice. Credit counselling services can provide guidance on creating an ideal financial plan for you.

Conclusion

It is advisable to always be vigilant and prompt when it comes to credit card spending and making payments. By following these guidelines, you can maximise the benefits offered by a credit card while also mitigating its potential risks.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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Health Insurance

Does Health Insurance Really Help?

Does Health Insurance Really Help?
Does Health Insurance Really Help?

Does Health Insurance Really Help?

In today’s time, the question of whether having health insurance really helps in providing substantial financial help is a matter of significant debate. Well, keeping in mind the rampant cost of living and the even faster moving health care inflation in India, let us tell you how having a health insurance policy can be beneficial.

Safeguarding Against Medical Inflation

Medical inflation in India has been on the rise over the course of years. As per reports, medical inflation in India is at 14% as of 2022, making medical inflation in India the highest among other Asian countries. With the increase in technological advancement and demand for healthcare services, the cost of healthcare treatments will also increase, making it more expensive to avail  quality medical treatment.

Medical expenses like doctor’s fees, medicines, diagnostic tests, and so on can financially burden you if you are not prepared. Having a health insurance plan with sufficient coverage can safeguard you financially. Just by paying a health insurance premium every year, you can mitigate these financial risks while also getting the best medical treatment when needed.

Safeguards Your Family

To ensure that you and your family members get the best medical treatment available, it is imperative to have a health policy with sufficient coverage. Major illnesses like cancer and stroke can destabilize your finances. Having health insurance with sufficient coverage can provide the best treatment for you and your family members. Moreover, a high coverage plans also provide with a wider choice of hospitals, healthcare facilities, and so on.

Financial Security

With many health insurance companies now offering cashless facilities that allow you to opt for medical treatments without touching your pocket. A right health policy will financially protect you and your loved ones from medical contingencies. It is advisable to check the benefits, coverage scope, and terms of the policy before purchasing. Make sure the health plan is in alignment with the medical and healthcare requirements of you and your family.

Peace of Mind

Knowing that you are covered and protected against life’s uncertainties brings a sense of security beyond monetary value. This immensely  contributes to the mental, emotional, and physical well-being of you and your dear ones.

Accessibility of Quality Healthcare

Having health insurance ensures that you and your loved ones can get the required medical treatment without facing any obstacles. It ensures that the insured can avail of timely medical treatment irrespective of their financial situation.

Promotes Healthy Lifestyle

Health insurance helps you stay healthy by covering the costs of regular check-ups, consultations, and vaccinations. This means you can catch potential health issues early and prevent any kind of sickness.

Conclusion

Having health insurance is like a protective shield for your well being. It helps with money when unexpected health issues come up and encourages you to stay healthy.  Having health insurance ensures that you and your loved ones can get the right medical care when required.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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Health Insurance

At What Age Should One Take Health Insurance?

At What Age Should One Take Health Insurance?
At What Age Should One Take Health Insurance?

At What Age Should One Take Health Insurance?

One of the crucial decisions in life is when should you invest in health insurance? It is important to invest in the right health insurance policy at an early age to make the most of its benefits. For many reasons, it is best to invest in health insurance between the ages of 20 and 30. In this article, let us tell you why it is advisable to take health insurance at a young age.

Reasons to Buy Health Insurance at a Young Age (Before 30 Years)

1.) Affordable Premium

Health insurance premiums are significantly determined by the age of the individual. A person of young age is likely to pay a lower premium as compared to an elderly person. Younger individuals are likely to enjoy better health. Hence, health insurance companies consider them to have lower risks. It is advisable to buy a health policy at a younger age to benefit from these lower premium rates for an extended period, saving you money in the long run.

2.) Better Scope of Coverage


Opting for health insurance at a young age provides you with extensive coverage at an affordable premium. Unforeseen accidents and illnesses can happen at any age. Hence, having health insurance can financially protect you from these unseen events.

3.) Less Waiting Period


Health insurance companies usually have a waiting period of 32–48 months for specific illnesses. Buying a health plan at a younger age helps you surpass these waiting periods timely. This ensures that you have comprehensive coverage for most illnesses when in need.

4.) Continuous Coverage


Buying health insurance at a young age gives you another advantage, which is continuous coverage. Gaps in coverage can result in a limited blanket of coverage or higher premiums. Hence, investing in health insurance at a young age assures you peace of mind and protects your financial future.

5.) Financial Safety 


Medical treatments are expensive and financially draining in the event of an unforeseen event like an accident or critical illness. Health insurance acts as a financial blanket that protects you from the high costs of treatments. This allows you to focus on your health and recovery rather than worrying about medical expenses.

6.) No Medical Check-up Before Policy Issuance


Many health insurance companies offer health plans to individuals without the need for a medical examination. As it is less likely to suffer from any disorders or any life-threatening illnesses before turning 30, insurance companies do not ask for a medical examination for young people. However, individuals over 45 years of age may need to undergo medical tests.

7.) Peace of Mind


Knowing that you have health insurance coverage provides you with peace of mind. It alleviates the stress and anxiety associated with the financial burden of medical contingencies. Young individuals can focus on their education and careers rather than having to worry about the risks in hindsight.

8.) Flexibility in Choosing Health Plans


Young people have more options when selecting health insurance plans that offer extensive coverage. This allows customisation for healthcare needs, premium affordability, and so on.

9.) Lesser Waiting period for Maternity 

Many insurance policies cover maternity expenses after two years. Hence, purchasing medical insurance at a young age helps overcome this waiting period easily. Investing in health insurance sooner is also a smart decision for young couples.

Conclusion

Buying health insurance at a young age offers a multitude of benefits that extend beyond financial protection. Affordable premiums, coverage for unexpected events, and peace of mind are compelling reasons to consider investing in one early.

Investing in health insurance at a young age (between 20 and 30 years old) is not just a wise financial decision but a strategic investment in one’s long-term health.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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bajaj allianz

What are the Benefits of Bajaj Allianz Health Insurance? (Top Benefits)

benefits of Bajaj Allianz Health Insurance

What are the Benefits of Bajaj Allianz Health Insurance?

Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE, a European-based finance organisation. Bajaj Allianz offers multiple health plans for senior citizens, individuals, family plans, etc. From offering comprehensive coverage to 100% sum restoration, the benefits offered by the plans are many.

In this article, we will explain to you all the benefits offered by Bajaj Allianz Health Insurance.

Benefits of Bajaj Allianz Health Insurance

Following are the benefits of the health plans offered by the company:

 

  • Comprehensive Coverage: Health insurance plans by Bajaj Allianz offer extensive coverage that offers a broad spectrum of protection. Their health plans cover hospitalisation, domiciliary expenses, multiple daycare treatments, ambulance charges, and so on.
  • Cumulative Bonus: Bajaj Allianz health plans provide the benefit of a cumulative bonus that increases your sum insured as a reward for claim-free years. The cumulative bonus offered in the health plans ranges anywhere from 10% to 100% of the sum insured.
  • Ayush Coverage: Health plans offer coverage for AYUSH treatments that include Ayurveda, Unnani, Siddha, homoeopathy, and so on. Ayush coverage is provided to offer an extra cushion of safety to the policyholder in case of medical contingencies.
  • Cashless Treatment: Bajaj Allianz offers cashless facilities to its policyholders at their network hospitals across India. In a cashless facility, the insurer will directly settle the medical bills with the hospital without pinching a hole in the policyholder’s pocket.
  • Daily Cash Allowance: This feature offers a daily cash allowance to the policyholder for a certain period of time. The insurance company provides a specified amount for every day of hospitalisation, compensating for the loss of income.
  • Sum Restoration Benefit: Health plans offered by the company come with restoration benefits. This automatically replenishes your coverage up to the 100% sum insured once exhausted.
  • Maternity Coverage: Multiple health plans also offer maternity coverage that covers delivery expenses, c-sections, newborn baby expenses, vaccinations, and much more.
  • Tax Benefit: You can claim a tax deduction on premiums paid under Section 80D of the Income Tax Act.
  • Critical Illness Treatment: Health plans by Bajaj Allianz offer critical illness coverage that is prolonged and fatal in nature. Life threatening illnesses like heart ailments, liver failure, cancers of varying intensity, and more will be covered. The company will offer a lump-sum payout as a form of compensation for treatments as well as other costs of medical support.
  • Lifelong Renewability: This feature offers lifetime renewability, which allows the policyholder to renew their health insurance plan without any restriction on age. With this lifetime renewability feature, you can enjoy continued renewal for your entire life. Also, for senior citizens, this feature reduces any financial pressure in case of a medical emergency with a continued renewal of their health plan.
  • Wellness Benefits: Wellness benefits like a concession in renewal fee, vouchers for supplements, boosters, free health checkup, and so is added as bonus in plan coverage. These wellness benefit offers the extra financial support to the insured and its family members.

Why choose Bajaj Allianz?

  • Claim Settlement Ratio: The company has a robust claim settlement ratio of 96.59%, which indicates the company is dedicated to settling genuine claims in trying times.
  • Network Hospitals: Bajaj Allianz Health Insurance has more than 8000+ network hospitals, which gives you a vast range of hospitals to choose from. You can avail of cashless treatment in these hospitals without worrying about paying the hospital bill from your pocket.
  • Dedicated Customer Support: Bajaj Allianz provides 24/7 dedicated customer support to its policyholders at all times. The company also strives to settle claims within 15 working days from the date of registering the claim.
  • Pre-Medical Test Not Needed: Most health policies offered by the company do not require individuals to undergo medical examinations before purchasing the policy.

Health Plans offered by Bajaj Allianz

Sr No

Plan Name

Plan Type

1

Bajaj Allianz Health Guard Plan

Individual/Family Floater Plan

2

Bajaj Allianz Health Infinity Plan

Individual Plan

3

Bajaj Allianz Critical Illness Plan

Individual Plan

4

Bajaj Allianz Criti Care Plan

Individual Plan

5

Bajaj Allianz Global Personal Guard Plan

Individual Plan

6

Bajaj Allianz Extra Care Plus

Top Up/Family Floater Plan

7

Bajaj Allianz M Care Plan

Individual/Family Floater Plan

How long does it take for claim settlement with Bajaj Allianz?

It takes anywhere between 7-15 working days to settle claims.

How to buy Bajaj Allianz Health Plans?

You can visit the official website of Bajaj Allianz to buy the plans.

What are wellness additions in Bajaj Allianz Health Plans?

Wellness additions like concession in the renewal fee, vouchers for supplements, boosters, free health checkup, etc. are added as bonuses to the plan.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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Aditya Birla Health Insurance

What is covered in Aditya Birla Health Insurance?

What is covered in Aditya Birla Health Insurance
What is covered in Aditya Birla Health Insurance

What is covered in Aditya Birla Health Insurance?

Are you wondering what are the inclusions and exclusions with Aditya Birla Health Insurance? Let’s check out some of the most important inclusions and exclusions with Aditya Birla Health Insurance. The following are some of the most noteworthy inclusions and exclusions with Aditya Birla Health:

  • What is Covered with Aditya Birla Health (Inclusions)

  • What is Not Covered with Aditya Birla Health (Exclusions)

What is Covered with Aditya Birla Health (Inclusions)

Firstly, what is covered under Aditya Birla Health Insurance is dependent on the kind of health insurance policy a policyholder opts for. Different health insurance policies will have different inclusions. That being said, mentioned within are some of the general inclusions that are covered under Aditya Birla Health:

  • Maternity Expenses
  • In patient hospitalization expense
  • Daily cash expense
  • Day care treatment expenses
  • Pre and post hospitalization expenses
  • Home treatment expenses
  • Ayush / Alternative treatment expenses
  • Free health check up
  • Organ donor expenses
  • Ambulance expenses

What is Not Covered with Aditya Birla Health (Exclusions)

Again, let us now talk about some of the exclusions of Aditya Birla Health. Mentioned within are some of the general exclusions and they can differ from policy to policy:

  • Cosmetic treatments
  • Abortion related expenses
  • Suicide and suicide attempts
  • Illness during waiting period
  • Mental illness
  • Expense arising out of war or warlike conditions
  • Sexually transmitted diseases
  • Congenital Anomaly
  • Event arising resulting from the insured person committing any breach of law
  • Expenses arising due to substance abuse
  • Sex change expenses

Source: https://www.adityabirlacapital.com/healthinsurance/assets/pdf/20171222T141512.pdf

It is extremely important that you consult the prospective insurance company before buying a health plan. Ensuring that you are well aware of the inclusions as well as exclusions of a health plan prior to making a purchase will ensure that you end up with a perfect health insurance policy for yourself and your family.

You can also reach out to a health insurance agent and ask him out the up to date inclusions and exclusions of Aditya Birla Health.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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Health Insurance

Is ₹2 Lakh Health Insurance Enough?

Is 2 Lakh Health Insurance Enough

Is ₹2 Lakh Health Insurance Enough?

Is ₹2 lakh health insurance enough in today’s day and age? Well, keeping in mind the rampant cost of living and the even faster moving health care inflation, ₹2 lakh insurance cover would most likely not cover the complete cost of emergency treatment for policyholders.

Let us further break down the rationale why ₹2 lakh health insurance coverage is no longer sustainable in 2023.

Rampant Medical Inflation

Medical inflation in India has been rampant over the course of the last few years. In fact, medical inflation is highest in India compared to all Asian nations. The medical inflation in India is at 14% as of 2022. This essentially means that the cost of medical treatments is increasing at 14%

This is much higher than the general inflation rate of 5.72%. This is one of the most important reasons for increasing your health insurance coverage.

Expensive Treatment for Critical Illnesses

The cost of critical illness treatments has continuously been increasing over the years and this is expected to continue. Critical illnesses include neurological, cardio-issues, cancer, and more. These issues have the potential to drain a person’s finances over the course of many months and even years.

It is absolutely imperative that a person has safeguards in place against the costs emanating from treating critical illnesses.

General Inflation is also increasing

The general inflation in India has been increasing from 3.3% in 2017 to 5.7% in 2022. It is now projected to go over 6%. As the general inflation in India increases, so does the cost of all goods and services, making everything more expensive, thereby decreasing the efficiency of health coverage.

Floater Plans should have higher coverage

A floater health insurance policy is a policy that covers all members of a family, thereby increasing the number of people covered under a single health insurance policy. A lot of people today are opting for a floater health insurance policy and it is gaining in popularity.

A person needs to be cognizant of the fact that he needs a sufficient coverage if he aims to adequately protect all his family members.

Outpatient Expenses

Outpatient expenses need to be factored in while buying an insurance policy. A health insurance policy with low coverage usually excludes outpatient expenses therefore it could be a prudent choice to ensure that you buy a health policy with outpatient coverage.
Different costs in different Geographical locations

It is possible that the policyholder may travel across the country. If he or she does so, it is extremely important for them to realize that different parts of India have different medical expenses. A village or a town will have lower medical expenses compared to tier 1 and tier 2 cities. Keep this in mind.

Pre and Post Hospitalization Expenses

People usually do not factor in the costs associated with pre and post hospitalization before selecting the coverage of their health plan. A policy buyer needs to ensure that his plan offers adequate pre and post hospitalization coverage.

These are some of the most important reasons why a policy buyer needs to ensure that his health insurance policy has sufficient coverage. A ₹2 Lakh coverage may be enough for certain small treatments like hernia treatment, cataract treatment, small planned treatments but it is more than likely that a ₹2 Lakh health cover will not be sufficient for emergency hospitalizations and critical treatments.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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hdfc ergo

HDFC ERGO VS Care Health Insurance – A Comparison

HDFC ERGO vs Care Health
HDFC ERGO vs Care Health

HDFC ERGO VS Care Health Insurance

When it comes to safeguarding your health, choosing the right insurance provider can seem like a difficult task. With multiple choices available on the market, two of the most renowned names in the health insurance industry are HDFC ERGO and Care Health Insurance.

Both companies offer a wide range of health insurance policies that cater to different  health care needs of individuals. But how are the plans different from each other?

In this article, we will compare some key features of HDFC ERGO and Care Health Insurance. We will also compare two of their most popular health plans for your better understanding.

Firstly let us look at some key features of both the health insurance providers.

About the Company

HDFC ERGO

Care Health Insurance

Claim Settlement Ratio

100%

100%

Network Hospitals

12000+

 9400+

Incurred Claim Ratio

62%

55%

Branches

100+

158 offices 

 

Employees

9700+

8500+

HDFC ERGO VS Care Health Insurance Family Health Insurance Plans

Now, let us highlight the key differences between the family health plans offered by both the

companies, to give you a better understanding.

Plan Features

HDFC ERGO Optima Restore Family

Care Supreme Health Insurance

Hospitalization

Covered

Covered

Restore Benefit

100%

100%

No Claim Bonus

50% increase SI, for every claim free year, subject to a maximum of 100%

50% increase SI, for every claim free year, subject to a maximum of 100%

Co-payment

NA

NA

Pre-Hospitalization

60 days

60 days

Post-Hospitalization

180 days

180 days

Ayush Treatment

Not available

Covered upto SI

Ambulance expenses

Up to ₹10,000

Up to ₹10,000

Sum Insured

Starting from ₹ 3 Lacs up to ₹ 50 Lacs

Starting from ₹7 Lacs up to ₹ 1 Crore

Pre-existing Conditions

Pre-exisiting diseases covered after 3 years

Pre-exisiting diseases covered after 4 years

Conclusion

From the perspective of a health insurance buyer, there are a few differences between the family floater plans offered by the two companies. As per our conclusion, we are highlighting some key differences:

  • HDFC ERGO Optima Restore plan does not cover Ayush treatment, whereas the other plan offers coverage for Ayush treatment up to the sum insured.
  • HDFC ERGO Optima covers pre-existing diseases after 3 years. Care Health Insurance covers pre-existing diseases after 4 years.

Hence, if you are someone who is already suffering from any pre-existing health illness, HDFC ERGO Optima Restore policy seems like a better option due to the shorter waiting period.

HDFC ERGO Vs Care Health Insurance Critical Illness Plans

Plan Features

HDFC ERGO Critical Illness Policy

Care Critical Mediclaim Policy

Coverage

Covers 50 life threatening illnesses:

 

Cancer

Heart Attack

Stroke

Major Organ Transplant

Multiple Sclerosis

Paralysis

Kidney Failure

Aorta Graft Surgery

Coronary Bypass Surgery

Brain Tumour

End Stage Liver Disease

Alzheimer

Heart Valve Replacement

Parkinson’s Disease

Pulmonary Arterial Hypertension

Crohn’s Disease

Myelofibrosis

Elephantiasis

Progressive Supranuclear Palsy

Severe Rheumatoid Arthritis

Severe Ulcerative Colitis

Progressive Supranuclear Palsy

Brain Surgery

Multiple Sclerosis with persisting symptoms

Bacterial Meningitis

End Stage Lung Failure Fulminant Hepatitis   Eisenmenger’s Syndrome & More

 

Covers 32 life threatening illnesses:

 

Cancer

Heart Valve Replacement

End Stage Liver Disease

Stroke

Angioplasty

Parkinson’s Disease

Alzheimer

Heart Attack

Paralysis

Pulmonary thromboembolism

Aplastic Anaemia

Infective Endocarditis

Balloon Valvuloplasty/Valvotomy

Blindness

Major Burns

Organ Transplant

Bacterial Meningitis

End Stage Lung Disease

Implantation of Pacemaker

Cardio Artery Surgery

Surgery of Cardiac Arrhythmia

Pericardietomy

Motor Neuron Disorder

Coronary Artery Bypass Graft

Cardiomyopathy

Implantable Cardioverter Defibrillator

Total Artificial Hearts

Valvoplasty

Heart valve repair

 

 

 

Renewability

Lifelong

Lifelong

Lumpsum Payout

Available

Disability and Accidental Coverage available

Sum Insured

₹ 5 Crore

Upto  ₹ 2 Crore

Note: Please check the brochure to see the complete list of illnesess covered. https://www.hdfcergo.com/documents/downloads/HEHI/my-Health-Critical-Illness/my-health-Critical-Illness_Prospectus.pdf

Conclusion: While both plans are pretty much similar, Care Health Insurance covers 32 specific illnesses. HDFC ERGO Critical Illness policy offers coverage for 50 life-threatening illnesses. Hence, you must consider the health care needs of yourself and your family members and also check out the specified illnesses covered by each  plan to make an informed decision.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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Aditya Birla Health Insurance

Reliance Insurance vs Aditya Birla Health Insurance (Comparison)

Reliance insurance vs Aditya Birla Health Insurance
Reliance insurance vs Aditya Birla Health Insurance

Reliance Insurance vs Aditya Birla Health Insurance

Choosing the perfect health insurance policy is extremely important, and that is why any prospective insurance buyer needs to analyze a whole host of important features and parameters that a health insurance policy needs to have.

In today’s article let us discuss about some of the most important features, benefits, and differences between Reliance Insurance and Aditya Birla Health Insurance and assess which health insurance policy could be a good choice for your needs. The analysis will be done on a whole host of important parameters such as:

 

  • Claim Settlement Ratio of Reliance vs. Aditya Birla Insurance
  • Features of both Reliance Insurance and Aditya Birla Health
  • Most Popular Plans

Claim Settlement Ratio of Reliance vs. Aditya Birla Insurance

First, let us have at the claim settlement ratios of both insurance companies over the years.

Year

Reliance General Insurance

Aditya Birla Insurance

2019-20

89.36%

70.81%

2021-22

98.65%

93.7%

2022-23

100%

94%

As you can see, both insurance companies are steadily increasing their claim settlement ratios over the years and that is a good sign as a claim settlement ratio of an insurance company should be one of the most fundamental yardsticks a potential insurance buyer should analyze before buying insurance.

What makes a claim settlement ratio important? Well, you can read about what is a claim settlement ratio to understand its importance in insurance.

Features of both Reliance Insurance and Aditya Birla Health

Let us now have a look at some of the most important features and benefits of both Aditya Birla Health and Reliance Insurance respectively.

 

 

Aditya Birla Health

Reliance General

Network Hospitals

10000+

8500+

Cashless Facility

Yes

Yes

Maximum Sum Insured

₹2 Crore

₹5 Crore

Waiting Period for Pre-Existing Issues

3 years

1-4 years

Renewal Discount

Yes

Yes

OPD Coverage

Yes

Need to buy Rider

No Claim Bonus

Yes

Yes

24×7 Claim Support

Yes

Yes

Day Care Treatment

Yes

Yes

Free Health Check Up

Yes

Yes

Maternity Cover

Up to 60 Thousand

Up to 3 Lacs

Most Popular Plans

Now, let us glace through some of the most popular plans of both health insurance companies.

Aditya Birla Health Insurance

Reliance General Insurance

Aditya Birla Activ Health Platinum

Reliance Health Gain Insurance Plan

Aditya Birla Activ Assure Diamond

Reliance Health Infinity Plan

Arogya Sanjeevani Policy

Reliance Critical Illness Plan

Aditya Birla Activ Care

Reliance Arogya Sanjeevani Policy

Aditya Birla Cancer Secure Plan

Reliance Corona Kavach Policy

Aditya Birla Personal Accident Plan

Reliance Personal Accident Insurance Plan

Aditya Birla Activ Secure Critical Illness Plan

Reliance Corona Rakshak Policy

 

Health Gain Power Plan

 

Health Gain Prime Plan

 

Health Gain Plus Plan

Always be sure to confirm the features, benefits and fine-print of any insurance policy before buying it. Be sure to rigorously conduct research and analyse the benefits and drawbacks of any insurance policy before buying it.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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Club Vistara SBI Credit Card (Benefits, Fees, Eligibility)

Club Vistara SBI Credit Card
Club Vistara SBI Credit Card

Club Vistara SBI Credit Card (Benefits, Fees, Eligibility)

Club Vistara SBI Credit Card is a one of a kind travel credit card that offers numerous benefits to its cardholders. This is a unique kind of card that provides comprehensive insurance coverage, a free economy air ticket, and much more. In this article, we will talk about the benefits, card fees, and eligibility in detail.

 

Table of Contents:

  • Club Vistara SBI Credit Card Benefits
  • Club Vistara SBI Credit Card Fess & Charges
  • How to apply for Club Vistara SBI Credit Card
  • Club Vistara SBI Credit Card Eligibility
  • Frequently Asked Questions

Club Vistara SBI Credit Card Benefits

  • Welcome Reward: You will get one complimentary Vistara premium economy ticket as a joining reward. It will be sent in the form of an e-gift voucher to your registered email address.
  • Reward Points: Earn up to 3 Club Vistara points on all purchases for every ₹ 200 spent. This is valid for all categories and fuel purchases as well. The earned points can be used to buy Air Vistara tickets from other partnered airlines.
  • Milestone Rewards: Get 1 complementary hotel e-voucher from Yatra worth ₹5000 on annual spends of ₹ 5 lakhs. The bonus points will be credited to the Club Vistara Membership Account within 15 working days.
  • Insurance Coverage Benefit: You will get insurance coverage as follows: Air Accident liability coverage up to ₹50 lakhs, Fraud liability coverage of  ₹1 lakh, Loss of check-in baggage coverage up to ₹72,000, Loss of travel document coverage up to ₹12,500, Loss of baggage coverage up to ₹2500.
  • Lounge Access Benefit: Get access to four complimentary visits to domestic airport lounges every year (subject to a maximum of one per quarter).
  • Balance Transfer Benefits: You can now transfer the balance of any other card to the Club Vistara SBI credit card and pay a lower rate of interest.

Club Vistara SBI Credit Card Fess & Charges

Fees

Amount

Annual Fee

₹1499 + Applicable taxes

Renewal Fee

₹1499 + Applicable taxes

Late Payment Charges

Upto ₹500: Nil

More than ₹500 up to ₹1,000: ₹400

More than ₹1, 000 up to ₹10,000 : ₹750

More than ₹10,000 up to ₹25,000: ₹950

More than ₹ 25,000 up to ₹50,000: ₹1,100

More than ₹50,000: ₹1,300

Finance Fees

3.50% per month or 42% per annum

 

Advance Cash Payment

₹ 250

Over limit Fee

2.5% of the over limit amount; minimum of ₹600

Payment Dishonor Fee

2% of the payment amount; minimum of ₹ 450

 

How to apply for Club Vistara SBI Credit Card

Follow these simple steps to avail of this credit card:

  • Step 1: Visit the official website of SBI, i.e https://www.sbicard.com/.
  • Step 2: Click on the ‘Credit Card’ section and select ‘Club Vistara SBI Credit Card.’
  • Step 3: Click on ‘Apply Now’ and fill out the form with all the accurate information.
  • Step 4: The bank representative will call you shortly in regards to the same.

Club Vistara SBI Credit Card Eligibility

  • Applicants minimum age should be 18 to 60 years.
  • The applicant must be salaried or self-employed.
  • Applicants need a good credit score.
  • Applicants need to be citizens of India.
  • Minimum income required is around ₹ 33,000–₹ 40,000 per month.

Documents Needed

  • Identity Proof: Aadhaar card, Pan card, voter’s ID, driving licence, passport-sized photographs
  • Address Proof: Passport, electricity bill, gas bill, and driver’s licence
  • Income Proof: Income Tax Reports and Salary Slips for the Past 2 Months

 

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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