Compare Health Insurance Plans

​When it comes to keeping your family medically safe while protecting your financial savings, you must consider investing in a health policy. A health insurance policy pays on your behalf for the medical expenses that you incur, thereby safeguarding your finances and providing you access to quality medical care.

But which health plan will cover you financially during medical contingencies? It is not recommended that you purchase the very first health plan you find online, as it could mean throwing your money away. You should rather compare healthcare insurance plans to find the right plan to cater to your medical needs.

How to Compare Healthcare Insurance Plans in India?

While you can still opt for the traditional offline method of visiting the offices of various insurance companies and sit through multiple meetings with insurance agents to find the policy that works best for you, alternatively, you have the option of comparing plans online.

Trusted insurers offer you the advantage of comparing health plans on their online platforms free of cost. It does not require much effort on your part, and you get access to information on various health plans for comparison.

Here is what you have to do:

Step 1: Go to the insurer’s official website, www.reliancegeneral.co.in

Step 2: Find the Health Insurance page and provide details like name, phone number, pin code, etc.

Step 3: Provide other details that are asked of you, like the coverage you require, the number of individuals you want to be insured, add-ons that you want to include, etc., for customisation, and then click on Get Price.

Step 4: Note down the quote amount, number of hospitals that fall within the network of the insurer, policyholders’ reviews, claim settlement ratio and other details provided on the insurer’s website.

Step 5: Repeat this process on various insurers’ websites to generate quotes that you can note down to compare the health plans offered for individuals and families.

Step 6: With all the information that you have gathered, it will become easy for you to select the health insurance plan that best meets your financial and medical needs.

Factors to Consid​er When You Compare Medical Insurance Plans

• Coverage Types Offered - You must perform a health cover comparison across insurers. This means you have to check whether or not the insurer is offering customisation of different health plans to meet your medical needs.

Moreover, if you need coverage for specific planned treatments, want financial coverage for senior citizens or are suffering from a critical illness, your insurer should be able to provide for it.

• Amount of Sum Insured- Compare the amount of sum insured by various health plans. Make sure that the sum insured you choose meets your medical requirements while fitting within your budget.

Reliance General Insurance additionally offers a 100% cumulative bonus option that can effectively increase your sum insured without affecting your premium cost.

• Premium Cost - Comparing premium costsis a must to choose the right health insurance. Opt for a health plan with an affordable premium. We offer several discounts on premiums that can significantly lower your premium amount.
• Sub-limit on Room Rent- Avoid insurers who levy sub-limit on room rent, as it will lead to extra expenses on your part. We do not offer any sub-limit on room rent for your financial convenience during medical treatments.
• Lifetime Renewability - A health plan with a lifetime renewability option is the one to opt for, as it gives you access to several benefits like discounts and bonuses. But the best part is that you can enjoy long-term financial protection with such a health plan.
• Co-Payment- This may be one of the important differentiating factors in various health insurance plans. Co-payment or ‘Co-pay’ indicates the insured (you) will have to pay fixed 'allowable' expenses at the time of claim.

For instance, if the policy reads a 10% 'co-pay' on all claims, then your insurer will pay 90% of the claim amount while the remaining 10% of the expenses will be borne by you. Co-pay is more commonly found in health plans for senior citizens and floater plans. It is wise to check if the product you choose has a co-payment condition.

We do not make it compulsory to co-pay; however, you can choose plans from us with a co-payment option to lower your premium amount.

• Exclusions and Inclusions- Always check what is included and what is not in the health policy you want to buy. Read the policy wording so that you can get proper coverage for your medical needs.
• Limits on Specific Medical Treatments- Some insurance companies put a cap on expenses incurred on specific medical treatments. The idea behind putting such caps is that the company aims to reduce its spending in case of overcharging by hospitals.

Therefore, it is very important to check the policy details to see if there is any such limit; if so, then which diseases are capped?

• Waiting Period for Specific Diseases- Risk coverage on health problems like hernia, knee replacement surgery, etc., is offered after 2 years of purchasing a policy and continuing to maintain that health insurance plan with the same insurance company, without any break.

Read your policy document to check for any such waiting period. Policy wordings of health insurance plans of all insurance companies might be available on the websites of dedicated health insurance brokers.

• Pre-existing Diseases- Risk coverage on pre-existing diseases is generally offered after a waiting period of 1-4 years. In case you have any disease or health-related issues before buying a health policy, look for a health insurance plan with the least waiting period to ensure you get your claim when it is required.
• Policy Renewal Charges- Every time you file a claim, your insurer will charge you an additional sum (loading) at the time of renewal. This additional amount is based on the percentage of the insured sum you claimed in the following year.

This hike in your premium may reflect a rise from 5%-200%, depending on the loading rates of your policy. Therefore, before you buy a health insurance policy, check for any premium loading.

• Maximum Renewable Age- Health insurance plans in India generally allow the renewal of policies till a certain age. The upper age limit for most of the health insurance policies in India is 65 or 70.

Once you have crossed this age limit, renewing your health insurance might not be possible. Thus, pick up a policy that either offers a lifetime renewal option or a maximum renewable age.

• Discounts and Bonuses- In case an insurer does not file any claim during a particular year, insurance companies often offer discounts and/or bonuses at the time of renewal of the policy.

Also, if you haven't filed any claims for 4 consecutive years, you will be eligible for free health check-ups. With the help of a health insurance policy with such features, you will gain by reducing your premium, raising the cover amount or getting a free health check-up.

How to Compare Medical Insuranc​​e Providers? – What to Check

• Look for Insurers and Check Credibility – Research insurance companies and get help from insurance agents (licenced) or research online for the same.

Remember that all online insurers must be listed on the IRDAI’s website, so make sure they're listed as an insurer there as well. Narrow down insurers who are trusted and reputable before moving on to the comparison of health plans.

• Read Other Customers’ Reviews- You can read the customer reviews of different policyholders to get a clear understanding of whether or not to invest in an insurance company while comparing plans.
• Claims Settled by the Insurer - An insurance company that does not settle the claims of policyholders is a red flag when searching for health plans. This also speaks volumes about their reputation.

Select an insurer whose claim settlement ratio is high so that you can get your claims settled on time. Reliance General Insurance's claim settlement ratio is 100% for FY 2024-23, meaning we ensure that all claims are promptly and efficiently handled.

• Network Hospitals- With Reliance General Insurance, you can get cashless services at any hospital in India. Moreover, we have a network of 10,000+ hospitals across India that offer high-quality healthcare services.

Health Insurance Comparison ​Benefits

When you compare medical insurance plans, you are at an advantage in choosing the most appropriate plan for your medical requirements –

• Make an Informed Decision: One of the biggest advantages of comparing health insurance policies online is that it provides you with multiple choices instantly, allowing you to make an informed decision free from external influences like agents or brokers.
• Appropriate Plan Selection - With access to several health plans and their features, it becomes easier to select the plan that is financially beneficial for you. Reliance General Insurance offers a variety of health plans with discounts and add-ons on its official website you can choose from.
• Saves Time - Comparing health plans online is very convenient because you can search for different plans taking your own time while sitting at home.
• Time to Read Policy Terms- You get ample time to read the policy until you know what medical treatments and expenses are included and what is not. This way, you can select the plan that is appropriate for your medical requirements.
• Customisation Advantage- Again, Reliance General Insurance offers you tailored health plans with add-ons that can make your coverage extensive while preventing any financial losses at your end.
• Free Quotes - When comparing plans online, you have the advantage of getting free quotes from insurers, which can help you get an estimate of how much you have to pay towards the plan. This way, you are in command of the entire situation, as it is your decision that finally matters.

Health Insurance Comparison - Mist​​akes to Avoid

• Overlooking the Fine Print- Not reading the fine print can lead to surprises at the time of making a claim.
• Insufficient Coverage- Opt for a health plan with sufficient coverage to avoid having to pay additional money towards medical needs, despite owning a health policy,
• Not Comparing Plans- Instead of choosing the first plan that you come across, spend some time researching for the right plan with proper coverage from a trusted insurer.
• Wrong Medical History- Providing false medical history can lead to your claim being denied, which will make the entire point of owning a health policy meaningless.
• Careless Premium and Add-on Selection- Be careful when selecting add-ons, and make sure you are covered extensively financially when opting for a health plan.
• Not Opting for Insurers with Cashless Hospitalisation- There are times when you may not have enough cash to pay for hospitalisation upfront, which is why you must opt for a plan with a cashless treatment option.

Buying Health Plans Online - F​​eatures and Benefits

• Easy Plan Comparison - When you compare health insurance policies online, you get access to check them easily, go through the details of the plans, and make an informed decision.
• Truly Convenient- The traditional method of buying a health plan involves visiting insurance companies in person and being present at multiple appointments to obtain a single health policy. All this can be avoided when you purchase a health plan online.
• Online Discounts- Reliance General Insurance offers you discounts for purchasing health insurance through their official website, making the plan more affordable for you.
• Lower Premiums- Since a huge chunk of operational costs is eliminated, the premiums for health plans are much lower online as opposed to purchasing the same health plan through the offline method.
• No Paperwork- There is no cumbersome paperwork involved, and the process of buying the policy online can be completed in minutes.
• Instant Health Policy- Once you confirm your details and get a quote from the insurer, it is up to you to make the payment to buy the health plan. If you decide to purchase it then and there, you simply have to pay the premium amount to own the policy.
• 24/7 Customer Support - To help you with the process of health plan purchase, manage it or make a claim online, Reliance General Insurance offers 24/7 customer support.

Compare Health Insurance Quotes ​– Calculating Premium for Health Insurance

You can access the free health insurance calculator at Reliance General Insurance to learn what premium amount you have to pay for a particular plan that you choose. You have to follow these steps to get a free quote:

• First, visit the official website, i.e., reliancegeneral.co.inand look for the Health Insurance page.
• Next, provide necessary details like phone number, age, etc.
• After this, you have to provide other required information such as the number of family members you want to be insured, the sum insured amount, add-ons you want to include etc., and then you have to click on Get Price.

You will get the quote that is the premium amount that you have to pay, which will include the discounts (if any).

Health Insurance Factors that Affe​​ct Premiums

In order to compare health insurance quotes online, you have to keep in mind that there are certain factors that affect the premium cost. These are discussed below:

• Health Insurance Type - What insurance plan type you select determines the premium amount you have to pay. For example, the premium for a family floater plan will be less than an individual health plan since coverage is shared.

You can avail of discounts for online purchases and a No Claim Bonus, among others, from Reliance General Insurance.

• Age - Generally, insurance companies offering health plans quote higher premium amounts for older individuals. This is because as you start growing older, you become more vulnerable to developing diseases, which can result in frequent medical expenses.
• Medical History - For anyone with a medical history, premium rates are higher as they would require more medical treatments compared to a healthy individual. However, you must disclose your medical history when purchasing a health policy.
• Lifestyle Habits - Habits like alcohol consumption and smoking cigarettes invite multiple health issues. This susceptibility towards serious health conditions is one other reason for the premium cost being high.
• Body Mass Index - If you have a higher BMI, then you are most likely to develop obesity-related health problems like high blood pressure and type-2 diabetes. Again, due to the frequency of medical treatments that you will require, the insurer may raise premium costs.
• Occupation - Working in a hazardous environment where you are either exposed to harmful chemicals or heavy machinery daily can put you at risk of falling ill or meeting with an accident. For this reason, the premium amount of your health policy can go up.
• Co-payment - Having to co-pay at the time of paying medical expenses lowers your premium cost. Reliance General Insurance does not mandate co-payment, so if you choose to co-pay, then your policy premium amount will be substantially lower.
• Add-ons - The more add-ons you include in your policy, the higher will the premium cost be. However, Reliance General Insurance offers you discounts to lower premiums despite opting for add-ons in your policy.
• Policy Term - When choosing a policy term that extends over a year, the premium cost increases because of the high coverage that the insurance company has to provide over the course of the policy period.

Popular Myths Surrounding Healt​​h Insurance

Myth - Health policy covers only hospitalisation costs.

Fact- Apart from hospitalisation, health policies cover daycare procedures like dialysis, chemotherapy, etc., as add-ons. Other add-on options under a health plan include emergency ambulance services, domiciliary hospitalisation, advanced treatments, organ donor expenses, OPD treatments, maternity and newborn cover, and more.

Myth- If I am young and healthy, I don’t need a health policy.

Fact - On the contrary, it is wise to opt for a health plan when you are young and healthy because you will have to pay a lower premium for your plan. Choose the right health insurance to get comprehensive coverage for medical expenses that may arise despite being in the best of health.

Myth - There is no need to declare my existing disease when buying a health policy.

Fact- It is crucial that you declare all information related to your health while filling out the proposal form. Not disclosing all information about your health, including any pre-existing illness, can result in claim rejection and even policy cancellation.

Myth - All my medical expenses will be covered if I invest in a health policy.

Fact- The IRDAI has set regulations according to which all health policies will come with exclusions. Your insurer will only compensate for medical expenses up to the amount of the sum insured (by you) and covered under your policy.

Myth- Individuals who smoke cannot avail of a health policy.

Fact- Individuals with smoking habits can opt for a health policy, but you have to disclose whether or not you have any pre-existing disease to your insurer before buying the policy. Moreover, the premium cost may be a bit high as your smoking habit can possibly lead to health issues in future.

Reliance General Insurance Hea​​lth Plans

At Reliance General Insurance, we have curated a variety of health insurance policies so that you can select the most appropriate health plan for your family. When you choose a health policy from us you enjoy the convenience in purchasing it without having to make multiple office visits in person.

Moreover, you can calculate premiums free of cost, easily compare health insurance policies on our website and find the policy that works best for you.

The entire process is made to be simple and hassle-free for your convenience, so it involves zero paperwork, and transparency is maintained as you get access to policy documents and terms and conditions. We also ensure that the payment method is well-protected and your policy is issued to you and gets activated as soon as you purchase it.

Reliance General Insurance makes health policies affordable for all.

Conclus​​ion

In today’s world where stress and lifestyle-related ailments develop in no time, it is imperative to own a health policy. Ignoring the need to compare medical insurance plans before buying one for you and your family will only lead to financial loss, and you will end up not getting your claim settled.

With everything that is mentioned above, you can easily gather all relevant information before you decide to invest in a health policy.

Frequently Asked Q​uestions

• Can I compare health plans via mobile applications?

  Yes, you can use our Reliance Self-i app to compare your plans and find the one that best suits your medical needs.

• How is mediclaim different from health insurance?

  Mediclaim is focused on providing reimbursement for hospitalisation, but health insurance provides extensive coverage through add-ons like pre and post hospitalisations, OPD services, maternity and newborn coverage, critical illness cover, and more.

• What is cashless hospitalisation?

  This is a facility in which you do not have to make payment for in-patient expenses as it is directly settled by your insurer. The bills from the hospital are sent to the insurer instead of the policyholder/patient receiving the treatment.

• Is there an appropriate age for purchasing a health insurance policy?

  There is no appropriate age for buying health plans, but it is highly recommended that you get financial coverage for your medical needs when you are healthy and young. The premium cost of a health plan is low when you are not afflicted with any disease before buying a policy.

• Will my smoking habit affect the premium for my health plan?

  Yes, smoking will affect your health premium, and it will probably be high because you are at risk of developing various illnesses due to your smoking habit.