Which Health Insurance is Best in India?

Whish Health Insurance is Best in India?

There is a debate about Health Insurance in India. The debate is that, which health insurance in India is Better? – Those which are provided by the life insurance companies or those which are provided by the non-life (general) insurance companies in India?

Well, I will personally prefer health insurance provided by non-life insurance (General) companies in India because of two reasons.

Reason: 1 The Insurance premiums by general and life insurance companies are different. As a rule, the insurance premiums provided by the general life insurance companies are little bit less.

For instance, annual premium payable by a 30-year-old seeking a `5-lakh cover under ICICI Prudential Life’s MediAssure classic plan is `5,762, while the figure drops to `5,410 in case of New India Assurance’s individual mediclaim policy.

Reason: 2 Non-Life Insurance companies are in health insurance business since years and they have more expertise than the life insurance companies.

Say for Example, recently many life insurers have completely removed the cashless facilities from selected 5-star hospitals in India and started charging various kind of charges from the policy holders in case of claims.

And that’s why the existing policy holders are in trouble now.

So I will right now personally prefer the health insurance policy by general insurers rather than the life insurers. However, keep in mind that outside India, it is the life insurers who are mainly in the business of providing health insurance products.

One thing I don’t like about general health insurers’ health insurance policies is that, we have to renew it every year so the chances of increasing premiums are very high every year.