There is no way to determine the ‘best’ health insurance company operating in India today. The best company is the one that provides the policy that suits your requirements and fulfills your health insurance needs with a price and service quality that you are satisfied with. There are several insurance companies that offer good health insurance plans and it is important to do the research or talk to an insurance advisor to determine which policy is most suitable for your needs.

Health insurance offered by Insurance companies

First, do you really need health insurance? The answer is very simply, yes. With medical bills rising steeply every day, you might be worried that in case of a medical emergency or serious medical condition, you will not be able to afford the expensive treatment. When you buy a health insurance policy, you can breathe easier knowing that your medical bills will be taken care of by the insurance company. Of course, the amount that you will covered depends on the particular policy you have bought, but in general, having insurance gives you some protection against potential financial loss in the future.

Health insurance is becoming increasingly popular in India because of the rapid increase in medical costs and hospital stays. Treatment for a major illness like cancer or heart disease can run into several lakhs of rupees depending on the city you live in and swallow a large part of your savings. Buying a policy from an insurance company helps you plan and budget for such unexpected and potentially heavy expenditure in the future. 

How do you choose which insurance company to buy from?

When choosing a health insurance plan, it would help to keep some of these factors in mind when making your decision:

1. The amount of coverage required and the cost of the premium. Several insurance companies will have an online tool that will help you calculate your premium cost.

2. Keep in mind the age and health condition of not just yourself but the other people in your family that you want coverage for – including spouse, children and, maybe, aged parents.

3. Do not wait for too long – the older you get, the more health complications you might develop that will make buying health insurance more expensive. If you are below 45 and do not have a history of serious medical problems, this might be the best time to buy health insurance.

4. Think carefully about the add-ons and whether you require them. For instance, ambulance transport might not cost much and it might be worthwhile paying for it out of your pocket rather than paying a larger premium.