Insurance: Best Health Insurance Plans from Top Health Insurance Companies


A list of the most best health insurance plans in India offered by the top insurers this year.

With rising costs everywhere, nothing comes cheap anymore. Healthcare is no exception to the rule. The cost of medical care in India is increasing by the day and so is the cost of buying health insurance, which is undoubtedly the most important asset every individual must possess. If COVID-19 has taught the world one lesson, it is to insure your life and health over everything else. But health insurance plans too come at a cost, sometimes not easily affordable by all. To top the dilemma is the biggest question of all: Which is the best health insurance company in India that can offer a cheap medi-claim policy?

Here we list out some of the most affordable plans offered by top health insurance companies in India in 2022-23 to help you make a wise and informed choice in inflation times.

Why is Health Insurance the Most Important?

There are clearly no two ways around this question. Health insurance is definitely what every single person today needs in their lives, for life itself is highly uncertain. We don’t know what may or may not happen the very next moment. All we can do is prepare ourselves for it well in advance. This is why it just makes sense to look for the best health insurance company in India and buy health insurance for yourself and your loved ones before a medical emergency hits uninformed.

Of course, the cost of buying health insurance cannot be ignored completely and therefore it is important to consider the premium payable towards the maintenance of your policy in the long term before investing in one.

Best Health Insurance Companies Offering Low Premium Health Insurance

As discussed above, since healthcare itself comes at a high price (the cost of a single hospitalization can burn a hole in your pocket), it only makes sense to keep a mediclaim policy in your hand. However, it is equally important that you choose to invest your hard-earned money in buying low cost medical insurance which can be easily afforded for the entire term of the policy purchased. This is because you would need to pay a premium towards maintaining the policy for its entire term until maturity in order to reap its benefits whenever needed.

To make things simpler for you, here is a list of the cheap and best health insurance in India offered by some of the top names in the industry. We shall look at all the various categories of health insurance here – affordable individual plans, cheap health insurance for family, and low-cost senior citizen insurance plans.

Affordable Individual Health Insurance Plans in India 2022-23 from Top Insurers

An individual health insurance plan is exclusively designed to provide coverage to one single individual under a single sum insured. Here are the top individual insurance plans offering affordable healthcare in India:

Individual Health Insurance PlanTotal Sum InsuredKey Features Under the PlanPremium Payable by a 35 yo Healthy Male for Rs. 5 lakh Sum Insured
Universal Sompo Complete Health Care Individual Essential PlanBetween Rs. 6 lakh and Rs. 70 lakhOPD cost coverage, in-patient treatment cost for dental procedures, maternity treatment costsRs. 6,523
HDFC Ergo Silver Smart PlanBetween Rs. 3 lakh and Rs. 5 lakhYearly health checkups for policyholders, no sub-limits on room rent during hospitalization, sum insured restored to the policyholderRs. 8,744
Star Health Comprehensive Individual PlanBetween Rs. 5 lakh and Rs. 1 croreComplimentary health checkups done for the insured, sum insured restored to the policyholder automatically, no sub-limits on room rent at hospitalizationRs. 8,277
Aditya Birla Active Assure Diamond PlanBetween Rs. 10 lakh and Rs. 1 croreCost of alternative treatments covered, such as Ayush, Ayurveda, Yoga, Unani, Siddha, Naturopathy, Homeopathy, nearly 586 day care procedures covered, second opinion on critical illnesses also coveredRs. 7,919

Read More: Buying a senior citizen health insurance policy

Low Cost Health Insurance for Family

Here are some of the best and cheapest health insurance plans that you can consider buying for your loved ones. The table below lists the lowest premium payable towards family floater plans purchased for family:

Family Floater Health Insurance PlanTotal Sum InsuredKey Features Under the PlanPremium Payable by a 35 yo Healthy Male for Rs. 5 lakh Sum Insured
HDFC Ergo Health Optima RestoreBetween Rs. 5 lakh and Rs. 50 lakh50% No Claim Bonus (NCB) provided to the insured every claim-free year, full sum insured restored, complimentary health checkups annuallyRs. 12,392
Aditya Birla Platinum EnhancedBetween Rs. 2 lakh and Rs. 2 croreNo capping on hospital room rent, coverage for chronic illnesses provided from day 1 of policy, full sum insured restoredRs. 12,648
Religare (Now changed to Care Insurance) Care PlanBetween Rs. 4 lakh and Rs. 6 croreSecond opinion with doctor complimentary, sum insured restored automatically, no sub-limit on single private room at hospitalRs. 10,885

Cheapest Health Insurance Policy for Senior Citizens

Now let us look at the top affordable plans for the elderly:

Senior Citizens Health Insurance PlanTotal Sum InsuredKey Features Under the Plan
IFFCO Tokio Family Health ProtectorBetween Rs. 1.5 lakh and Rs. 30 lakhCoverage for critical illnesses, treatment costs provided for more than 160 daycare procedures, no pre-policy tests required for people up to 60 years of age
Star Red Carpet Senior Citizen Health PlanBetween Rs. 1 lakh and Rs. 25 lakhCoverage for all modern treatments, no health checkups required before entering into the policy, coverage for OPD visits
Oriental Individual Mediclaim PolicyBetween Rs. 1 lakh and Rs. 10 lakhCoverage for Ayush treatments. dental treatment procedures due to accident/mishap, option for voluntary co-payment to insured, daily cash benefit for hospitalization

Summary

For more details on the best health insurance company in India that offers cheap and affordable health insurance of all types – individual, family floater, or senior citizen plans, visit PayBima.

Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.

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FAQs on Affordable Health Insurance Plans

Will the premium increase after buying the health insurance plan?

Generally, the premium payable towards your health insurance policy tends to increase as you get older. This also means that upon each renewal of the plan, you would need to pay a slightly higher premium than earlier. In addition, in case you opt for a higher sum insured at the time of policy renewal or choose to include another family member in your plan, the premium amount increases.

Which health insurance is best in India 2022?

There are a number of health insurance plans that offer the best coverage, cashless hospitalization benefits, and have a wide network hospital base. Some of the best health insurance policies to consider buying in 2022 are:

1. Star Family Health Optima Plan:
Entry Age – Min. 18 years; Max. 65 years
Sum Insured Range – Between Rs. 1 lakh and Rs. 25 lakh
Network Hospitals – More than 9,900

2. United India UNI CritiCare Health Care Plan:
Entry Age – Min. 18 years; Max. 65 years
Sum Insured Range – Between Rs. 1 lakh and Rs. 10 lakh
Network Hospitals – More than 7000

2. Universal Sompo Complete Healthcare Plan:
Entry Age – Min. 18 years and Older
Sum Insured Range – Between Rs. 1 lakh and Rs. 10 lakh
Network Hospitals – More than 5000

How to select the top health insurance company in India?

The insurer must satisfy the following criteria:

It must have a high Claim Settlement Ratio (CSR).
It should provide cashless hospitalization benefits to the insured.
It must enjoy good credibility in the market.
Its network hospital base should be wide.

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