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Health Insurance

Health insurance for you and for your family.

Importance of Health Insurance in India

It's alarming that merely about one-fifth of Indians have sheltered themselves under health cover. Is it the lack of awareness or general indolence? Let's discover why Health Insurance should be a prominent choice.

Why Coverfox?

We at Coverfox offer you a wide option of multiple insurance companies. You may compare the best insurance plan basis their features, benefits etc. and narrow down your search on the right plan as per your requirement. We offer you the claim settlement and worthiness of different insurers making it easier for you to zero down on the ‘best plan’ available.

Coverfox being a relatively new start-up, our entire emphasis is to deliver unmatched quality service to our esteemed customers. Our goal is to make the whole insurance buying experience as pleasurable and relaxed as possible with our expert guidance and an easy to access portal.

Still Confused? Get the experts to help you out?

Assessing so many health insurance companies against numerous parameters can be as daunting and confusing as it sounds. If you are in a fix and cannot decide the best health insurance company for yourself, it is time to involve experts.

  • Health insurance experts will help you evaluate your priorities and plot it against the health insurance companies.
  • They will help you buy that one policy that covers most of your requirements.
  • They will also guide you with the add-ons, top-ups and super top-ups you should buy to maximize your cover at lower costs.
  • At Coverfox, our health insurance experts will also provide you with post-sales assistance, especially when making claims.
  • Get a transparent and honest picture, and make the best decision.

How can Coverfox help you to choose the right Mediclaim Policy

  • Convenient & Hassle-free application process clubbed with the online platform for comparison and choosing the right plan.
  • Expert & Unbiased Advice for assisting you with the right decision as per your requirements.
  • Dedicated Customer Service Unit to tackle all your post-sales queries including expert claims handling.
  • Minimal Paperwork to ensure hassle free and pleasurable buying experience

Health Insurance Comparison: Get the Facts right!

Factors to Watch Out Before Comparing Health Insurance Plan

Always compare health insurance plans based on the following crucial factors

PREMIUM VS COVERAGE

Assess if the cover and sum assured are suitable against the premium paid. Choose add-ons as per your needs.

NETWORK HOSPITALS

Be sure of the insurer's network hospitals in your area. You can avail of cashless services only at these hospitals.

ROOM RENT LIMIT

Since hospital room rents vary, some insurance plans pay only a part of the actual rent. It's always best to go for higher or no room-rent limit plans.

EXCLUSIONS

Check what is permanently excluded and which treatments are possibly covered after waiting for a certain period.

Health Insurance Portability: All you need to know!

Why Should You Buy Health Insurance Plans Online?

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We are spoilt for choice and don't like to compromise on quality. This applies to the insurance we would want to buy too. From the neighbourhood insurance agent to the banks we frequent - we would want to explore all options. But, with the revolutionary innovation in the e-commerce sector, an online broker should be your definitive choice. Why?

Expertise

As the brokers are skilled professionals, licensed by IRDA, they are the finest to approach for any insurance needs. Above and beyond, as they deal with diverse insurance products, they are accountable towards providing accurate solutions as per distinct requirements. Their entire business model is to offer essential service to the consumers on priority.

User-friendliness

Some insurance brokers like Coverfox.com boasts of exceedingly user-friendly and convenient gateway where even a newbie can access and purchase the insurance policy as per his requisite. The facility to compare and make the correct choice is what they exult in. The ease offered is noteworthy and with such astounding features, why look back?

Post Sales Service

For the whole kit and caboodle associated with your health insurance policy, you can contact your broker, and they are capable enough to deal with the same. Brokers are accredited to handle the requests on behalf of their customers by dealing with the insurance companies. So, next time you want to move your residence, and if you have bought your health insurance policy through a broker, why fear when the broker is here? A phone call is all it'll take.

Claims assistance

Brokers like Coverfox has a far-reaching Claims Team that handle all queries, concerns related to the claims of their customers. Even before submitting the documentation to the insurance company for claims dispensation, they scrutinize them for accuracy and completion to evade back and forth coordination with the insurance companies. Claims Team Experts are on your side and walks step-by-step with you to settle down the claim.

Best Health Insurance Plans in India

Health Insurance PlanAGEType of PlanSum InsuredBenefits
Religare Care Plan Children 5 years
Adults Min- 18 Years Max- No Age Limit
Individual Plan
Family Floater Plan
Rs. 2/3/4/5/7/10/15/20/25/50/60 Lakhs
  • Recharge benefit equal to 100% of the sum insured
  • Health check-up once every year, irrespective of claims made, for individuals of age 18 years and above
  • No-claim bonus super add-on cover which makes no claim benefit equal to 60% of the sum insured
  • Specific treatments (listed in the policy document) anywhere in the world for sum insured Rs. 50, 00,000 and above.
Max Bupa Companion Health Insurance Policy Children 91 Days
Adults Min- 18 Years Max- No Age Limit.
Individual Plan
Family Floater Plan
Rs. 2 lakhs to Rs. 1 crore
  • The policy is tailor-made for Individual, Couple, Nuclear Family & Extended Family
  • Comprehensive cover up to Rs.1 Crore
  • Lifetime renewability
  • Smart Top-up options for additional coverage
  • Cashless treatments in more than 3500 network hospitals
  • 12.5% discount on second year’s renewal premium if you opt for a two-year policy tenure
  • Tax benefit on premium paid under Section 80D of the Income Tax Act.
Oriental Happy Family Floater Mediclaim Plan Children 91 Days
Adults Min- 18 Years Max: 65 years.
Family Floater Plan Silver: Rs. 1 lakh to Rs. 5 lakh, Gold: Rs. 6 lakh to Rs. 10 lakh
  • One sum insured for the whole family including parents and parents-in-laws.
  • No pre-policy medical test for individuals up to the age of 60 years
  • Based on the benefits, policy is available in two options – Silver & Gold
  • Personal Accident Cover and Life Hardship Survival Benefit available at extra premium
  • If you do not prefer the TPA (Third Party Administration) services, you can get additional 5% discount on the premium.
Star Senior Citizen Red Carpet Plan Children- N/A
Adults : 5 Years Min : 60 years Max: 75 years
Individual Plan
Family Floater Plan
Rs. 1 Lakh to Rs. 10 Lakh
  • No pre-policy medical check-up required
  • Covers for any medical consultations as an Out Patient in a Network Hospital
  • Lifetime Renewability
iHealth Plan Children in Individual Plan 3 Months- 23 Years
Family Floater Plan Children- 6 years – 23 Years
Adults Individual Plan Above 18 Years
Adults Family Floater Plan Above 18 Years
Individual Plan
Family Floater Plan
Rs. 2 Lakh to Rs. 10 Lakh
  • Does not have limit on room rent expenses
  • Does not have co-pay for any claim.
  • This plan offers no-claim bonus equal to 10% of sum insured up to a maximum of 50% after every claim free year.

List of Insurance Companies offering Health Insurance in India

Agriculture Insurance Co. of India LtdApollo Munich Health Insurance Co. LtdBajaj Allianz General Insurance Co. Ltd
Bharti Axa General Insurance Co. LtdCholamandalam MS General Insurance Co. Ltd Cigna TTK Health Insurance Co. Ltd
Export Credit Guarantee Corporation of India LtdFuture Generali India Insurance Co. LtdHDFC ERGO General Insurance Co. Ltd
ICICI Lombard General Insurance Co. LtdIFFCO Tokio General Insurance Co. LtdL&T; General Insurance Co. Ltd
Liberty Videocon General Insurance Co. Ltd Max Bupa Health Insurance Co. LtdNational Insurance Co. Ltd
The New India Assurance Co. LtdThe Oriental Insurance Co. LtdRaheja QBE General Insurance Co. Ltd
Reliance General Insurance Co. LtdReligare Health Insurance Co. LtdRoyal Sundaram Alliance Insurance Co. Ltd
SBI General Insurance Co. LtdShriram General Insurance Co. LtdStar Health and Allied Insurance Co. Ltd
Tata AIG General Insurance Co. LtdUnited India Insurance Co. LtdUniversal Sompo General Insurance Co. Ltd
Kotak Mahindra General Insurance Co. LtdAditya Birla Health Insurance Co. LtdMagma HDI General Insurance Co. Ltd

List of Government Health Insurance Schemes in India

  • Rashtriya Swasthiya Bima Yojana (RSBY)
  • Employment State Insurance Scheme (ESIS)
  • Central Government Health Scheme (CGHS)
  • Aam Aadmi Bima Yojana (AABY)
  • Janashree Bima Yojana (JBY)
  • Universal Health Insurance Scheme (UHIS)

Difference between Health Insurance and Mediclaim?

MediclaimHealth Insurance
Mediclaim only refers to hospitalization. Say, it only covers hospital related expenses. It is important to be hospitalized to file a mediclaim.Health Insurance is a more detailed and comprehensive insurance product. It not only covers hospitalization expenses, but it also covers, the pre and post hospitalization expenses, ambulance charges etc. You need not be hospitalized for filing a health insurance claim.
Mediclaim offers a very limited coverage say around Rs. 5 lakh is the highest sum insured offered.Health Insurance offers an extensive coverage say the upper limit is Rs. 75 lakh
Mediclaim follows the indemnity principle. Here, the hospitalization expenses are reimbursedHealth Insurance doesn’t solely work on indemnity. Many other components like riders work on benefit criteria. Here, a lump sum amount is paid to the insured in case of uncertainty. It doesn’t follow the make up for loss policy
Under Mediclaim, the insured is allowed to make any number of claims.Under the standalone illness specific Health Insurance Policy, once the insured makes a claim for the specified illness, the entire sum assured is paid out at one go. Therefore, filing another claim is ruled out!

FAQs on Health Insurance

What should you consider while buying Mediclaim Policy?

  • A number of members and relations to be covered- Because this will be the basis of buying the policy.
  • Type of coverage – Individual, family floater or group.
  • Sum insured or coverage amount – Ensure that you consider future expenses too.
  • Room rent – Check for the capping amount or criteria defined, if applicable.
  • Sub-limits or co-pay applicable – Check for the sub-limits applicable for some specific list of ailments or package treatments. Also, check if the plan has co-pay feature.
  • Network hospital list – Check for the list of network hospitals and try buying a policy which covers your regular hospitals.
  • The Policy wording – Most important thing to check before buying a policy. In case you are not sure about certain terms or conditions you can always contact the insurer for clarification.

Who should buy a Health Insurance Policy?

Well, the answer is simple. Anyone who cannot possibly afford those sky rocketing hospitalization and related healthcare costs should definitely invest in a good mediclaim insurance. Considering the premiums, you pay each year, the benefits you reap are much valuable. Along with a financial cushion to reckon, the peace of mind it offers makes it totally worth.

How to make a claim?

Claims can be registered in two ways:

a.) Cashless claims: You must contact TPA help desk at the time of hospital admission. Submit the claim form along with the doctor’s reports to seek approval. Once the request is approved, TPA settles the bill directly with the hospital.

b.) Reimbursement claim: Once hospitalization is completed and the hospital bill is settled, you need to send the claim form, discharge form along with the doctor’s prescriptions and reports to the insurer. The insurer investigates the documents submitted and then revert backs with the decision on claim settlement.

What are the things to look for while choosing a health insurance plan?

While choosing a health insurance policy there are a few things which you should be consider:

  • Number of members and relations to be covered- Because this will be the basis of buying the policy.
  • Type of coverage – Individual, family floater or group.
  • Sum insured or coverage amount – Ensure that you consider future expenses too.
  • Room rent – Check for the capping amount or criteria defined, if applicable.
  • Sub-limits or co-pay applicable – Check for the sub-limits applicable for some specific list of ailments or package treatments. Also check if the plan has co-pay feature.
  • Network hospital list – Check for the list of network hospitals and try buying a policy which covers your regular hospitals.
  • Policy wording – Most important thing to check before buying a policy. In case you are not sure about certain terms or conditions you can always contact the insurer for clarification.

Can I get a single health insurance floater policy which can cover my parents or in laws too?

Yes. There is health insurance plan like Heartbeat family first which covers 14 relations including in-laws and parents.

What are some of the important exclusions under a Mediclaim policy?

There are four important types of exclusions in a Mediclaim policy. These are:

  • Time-related exclusions: e.g. Waiting period- general, specific ailments and pre-existing.
  • Non-medical expenses: e.g. Registration charges.
  • Illegal reasons: e.g. drugs, alcohol abuse, self-inflicted injuries.
  • Out-of-scope: e.g. unproven medical procedures, HIV, adventure sports, etc.
  • Room rent: This may not be an exclusion, however, do check for the capping amount on room rent, if applicable.

Can I cancel my policy? If yes, will I get my premium back?

Yes you can cancel a policy after you buy it. A free look period of 15 days is provided to you after buying a policy to understand the terms and conditions. In case there is any objectionable clause, you can cancel the policy and get a refund. Stamp duty, expenses on medical check-up and proportionate risk premium (the number of days that the insurance company was at a risk of bearing your health expenses) would be calculated while the premium amount is refunded. Refer the policy termination or policy cancellation section in your policy wording to know the amount that would be refunded.

Note: For a refund, there shouldn't have been any claim during the policy period.

Does a health insurance plan cover maternity?

Health insurance policy is designed to cover unforeseen medical expenses, but a normal health insurance policy does not cover maternity expenses. Coverage for maternity expenses is one of the additional features offered by some of the health insurance plans at a higher premium and waiting period. To know more about maternity health insurance, please read more here.

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