Which Health Insurance Company is best for a Family?

health insurance

Health insurance has been on the rise ever since the pandemic broke out in 2019. More and more people are becoming aware of health insurance and its advantages, looking at unexpected expenses that break people’s wallets and bank accounts.

In case of an unforeseen incident or disease to anyone in the family, the medical expenses that incur could skyrocket. Therefore, having insurance to cover a family’s health is of utmost importance.  Today there are several health insurance policies and the best health insurance plan in India.

Indian and international insurance players are present in the Indian market, offering a wide variety of plans starting from a small cover of Rs 1 Lakh or 2 Lakhs and going up to half a crore or a crore. The type of plan and the kind of policy is completely a customer’s choice as there are many types to choose from.

Types of Health Insurance Policies

There are many kinds of insurance policies and plans in India. Based on the customer’s choice and preference, one could choose a plan that makes the most sense to the customer and family. Below are the most common types of health insurance recognized in India:

1. Individual Health Insurance

This only covers a single insured party and is suitable for bachelors who have just started to invest.

2. Family Health Insurance

This is the most common health insurance and covers the entire family for health benefits.

3. Top up Plans

This is an ala-carte kind of option for those who want to add extra benefits from a specific insurance company or provider.

4. Critical Illness Cover

This insurance usually is applicable for major treatments such as surgery, heart disease, cancer diagnosis, transplant surgeries, etc.

5. Mediclaim

This type of policy is most suitable for those who need daily expenses at the hospital for in-patient facilities that the hospital charges to be covered.

6. Group Health Insurance

This kind of policy is usually provided by an employer for their employees and has a basic cover for the employee and sometimes even the family.

7. Corona Insurance

A recently added insurance policy after the havoc that was created by the Covid pandemic on people’s lives and who wish to protect their families from such adversities.

8. ULIP’s

Unit Linked Insurance plans provide both insurance and investment plans for the insured party with excellent returns from the market. There are many family health insurance plans in India that are excellent options for those who want to protect themselves and their families from any health-based adversities.

These plans mentioned above are provided by some of the best health insurance plan in India from various providers. Based on a customer’s preference, type of family, members in a family, city that one resides in and the kind of cover they are looking for, these plans can be chosen.

Some of the most famous insurance providers in India are:

  • HDFC Ergo Insurance

Powered by HDFC bank and ERGO insurance company.

  • ICICI Prudential Insurance

The partnership between ICICI Bank and Prudential Insurances.

  • Bajaj Allianz Insurance

A product from Bajaj Finance companies and Allianz Insurance providers.

  • TATA AIG Insurance

Insurance policies that are backed by TATA finance and AIG Insurance company.

  • Star Health Insurance

One of the leading Health insurance and Life Insurance companies in India.

  • Kotak Mahindra Insurance

Life and Health insurances from Kotak Bank and Mahindra Finance and Insurance company.

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