Health insurance

The Best Health Insurance plans made just for you!

Please select Sum Insured, the Number of Family Members and Age of oldest insured to get started.

Add
Add
Lifelinelanding1
2.8 Crore Plus Health Insurance Customers - Icon
2.8 Crore+
customers served
7000 Plus Network Hospitals for Health Insurance
7000+
network hospitals
81.5% of All Health Insurance Claims Paid
81.5%
of all claims paid
Health Insurance
Worried about the hospital bills? Leave it to us.
An unexpected health emergency is stressful enough. Do you really need the additional burden of hospital bills?
Your health is your most important asset and you must do everything in your power to protect it. A well rounded health insurance plan can cover the cost of hospitalisation so that you only have to focus on getting better or helping your loved ones get better.

What is health insurance?

A health insurance plan covers the cost of hospitalisation and other planned or unplanned medical expenses for you and/or your family. In today's day and age, the cost of hospitalisation for unforeseen medical emergencies as well as for planned medical procedures can be very high. You can safeguard your hard earned money and let a comprehensive health insurance plan take care of the financial burden of hospitalisation and other medical treatment.

Why should you buy a health insurance policy?

  • While you can plan for certain expenses in your life, for instance, purchasing a home, a car, or a holiday abroad, you can’t really plan for the expenses that might tag along with a medical emergency. You can, however, be prepared for a medical emergency or even for planned medical treatment without dipping into a huge chunk of your savings. This is possible with a comprehensive health insurance plan.
  • In a time when the Coronavirus is causing huge losses to a lot of people, both emotionally and financially, it is best to stay prepared for any medical expenses with a robust health insurance plan. While a health plan cannot make up for the emotional turmoil of being hospitalised or watching a loved one undergo hospitalisation, it can help reduce your stress by taking care of the financial burden on your shoulders.

Still looking for reasons you need to buy health insurance?

Here are 5 reasons you need to buy health insurance

Health Insurance Income Tax Benefits
Income tax benefits
A health insurance plan is not only beneficial to cover your expenses in a medical emergency, it can also give you a tax rebate when you file your income tax returns.
Safeguard Your Savings With Health Insurance
Safeguard your savings
Why dig into your savings during a health emergency when a health insurance plan can take care of the expenses?
Cashless Hospitalisation from Medical Insurance
Cashless hospitalisation
With cashless hospitalisation facilities, you don’t have to worry about paying the bills, your insurance provider will take care of it.

Who needs to buy health insurance?

It is highly recommended that everyone eligible for a health insurance plan should buy health insurance.
Health Insurance for Individuals
Individuals
Individuals
While you can plan for certain expenses in your life, for instance, purchasing a home, a car, or a holiday abroad, you can’t really plan for the expenses that might tag along with a medical emergency. You can, however, be prepared for a medical emergency or even for planned medical treatment without dipping into a huge chunk of your savings. This is possible with a comprehensive health insurance plan.
You might want to consider an individual health plan for the following reasons
  • The cost of a health insurance premium is lower when you are younger
  • Even if you are employed and are thinking that the cost of medical treatment for your family and you is covered by a group health insurance policy, you must have your own health plan as a group plan might not offer sufficient coverage.
Health Insurance for Family
Family
Family
Unlike individuals, a family has a far larger burden of financial expenses. Unexpected hospital bills can greatly reduce a family’s savings. Family health plans or family floater plans are extremely beneficial as they cover the cost of medical treatment for the entire family and each family member’s health does not need to be insured individually.
You might want to consider a family health plan for the following reasons
  • If you are a newly wed couple and are planning to start a family, you may want to consider a health insurance plan that includes maternity benefits.
  • If you already have children and dependent parents, a family health plan can ideally take care of medical expenses for everyone with a single plan.
  • Remember, the cost of a family floater plan is usually low.
Health Insurance for Senior Citizens
Senior citizens
Senior citizens
As people age, the probability of health risks starts to increase, and the cost of treatment usually gets higher. It is always a good idea to have a robust health insurance plan that can take care of your health expenses when you are at an advanced age.
You might want to consider a family health plan for the following reasons
  • Most health insurance providers offer to cover the health of policyholders until they reach a certain age. The average is around 65 years. A senior health plan is specifically designed to cover senior citizens.
  • You don’t have to dig into your retirement funds, nor do you have to be a burden on your loved ones when you have a medical emergency. A senior health plan will be able to take care of the cost of medical treatment.

Royal Sundaram's Lifeline Health Insurance Plans

If you are young and just starting to earn your first income
Royal Sundaram's Lifeline Classic Health Insurance Plan
Comprehensive health coverage up to ₹4 Lakhs
Know More
If you want to protect the health of your spouse, children and your parents.
Royal Sundaram's Lifeline Supreme Health Insurance Plan
Comprehensive health coverage up to ₹1 Crore with additional benefits
Know More
If you want to protect the health of your spouse, children and your parents and are also looking for benefits like Maternity and International treatment facility.
Royal Sundaram's Lifeline Elite Health Insurance Plan
Comprehensive health coverage up to ₹1.5 Crores with additional benefits
Know More

Royal Sundaram's Family Plus Health Insurance Plan

Health Insurance for Family

Starting a family?

Start with securing the health of your spouse and your new-born.

Enjoy comprehensive maternity and infant health cover.

What is covered under our Lifeline health insurance plans?

Royal Sundaram's Lifeline Health Insurance plans offer financial assistance for several medical expenses including:
Inpatient Care Under Health Insurance
Inpatient care
Pre-hospitalisation expenses Covered Under Health Insurance Plan
Pre-hospitalisation expenses
Post-hospitalisation expenses Covered Under Health Insurance Plan
Post-hospitalisation expenses
Donor Expenses Covered Under Health Plan
Donor expenses
Apart from the above mentioned coverage, the various plans under Royal Sundaram Lifeline cover
additional expenses and offer varied benefits that are explained with each plan in detail.

Compare Royal Sundaram's best health insurance plans

InsuranceLifeline
Classic
Lifeline
Supreme
Lifeline
Elite
Family
Plus
Arogya Sanjeevani
Policy
Common Benefits
Cover for day care proceduresAcceptAcceptAcceptAcceptAccept
Covers all hospitalisation including Covid-19AcceptAcceptAcceptAcceptAccept
Cover for pre & post hospitalisation AcceptAcceptAcceptAcceptAccept
Cumulative bonus (No Claim Bonus)AcceptAcceptAcceptAcceptAccept
Cover for modern age treatmentAcceptAcceptAcceptAcceptAccept
Cover for AYUSH treatmentAcceptAcceptAcceptAcceptAccept
Additional BenefitsLifeline
Classic
Lifeline
Supreme Plus
Lifeline
Elite Plus
Family
Plus
Arogya Sanjeevani
Policy
Free annual health check upNot AcceptAcceptAcceptAcceptNot Accept
Refill your coverage at no extra costAcceptAcceptAcceptAcceptNot Accept
No co-payment in case of claimAcceptAcceptAcceptAcceptNot Accept
Organ donor expensesAcceptAcceptAcceptAcceptNot Accept
No room rent cappingAcceptAcceptAcceptAcceptNot Accept
Free medical and dietary adviceAcceptAcceptAcceptAcceptNot Accept
Maternity benefit for mother & childNot AcceptNot AcceptAcceptAcceptNot Accept
Emergency domestic evacuationNot AcceptAcceptAcceptAcceptNot Accept
Worldwide emergency hospitalisationNot AcceptNot AcceptAcceptNot AcceptNot Accept
Second opinion for critical IllnessesNot AcceptAcceptAcceptAcceptNot Accept
Additional Exclusive BenefitsLifeline
Supreme Plus
Lifeline
Elite Plus
Additional facility of app-based cabs as a part of Ambulance Cover-Ola/uberNot AcceptAcceptAcceptNot AcceptNot Accept
Refresh of Sum insured-once in a life time, for the same illness.Not AcceptAcceptAcceptNot AcceptNot Accept
In-patient for Pre-existing Disease in case of Life-Threatening ConditionNot AcceptAcceptAcceptNot AcceptNot Accept
Bariatric SurgeryNot AcceptAcceptAcceptNot AcceptNot Accept
Mobility Devices-wheel chairs/ crutches etc.Not AcceptAcceptAcceptNot AcceptNot Accept
Second Opinion for additional 11 specified Critical illnessesNot AcceptAcceptAcceptNot AcceptNot Accept
International Treatment abroad for 3 additional Critical illnessesNot AcceptNot AcceptAcceptNot AcceptNot Accept
In-Vitro Fertilisation (IVF) TreatmentNot AcceptNot AcceptAcceptNot AcceptNot Accept

What is not covered under our health insurance plans?

While we try our best to offer exhaustive and extensive coverage for all kinds of treatment, it is not possible to cover the cost of certain medical treatments. These include:
Pre Existing Diseases Not Covered Under Health Insurance - Icon
Pre existing diseases
Pre existing diseases
Treatment of pre existing diseases will not be covered if the insured person is still in their waiting period. Waiting period will vary plan wise. It will be 48 months for a Life Line Classic Plan and 36 months for a Life Line Supreme Plan.
Illness Contracted in 30 Days Not Covered Under Health Insurance - Icon
Illnesses contracted in 30 days
Illnesses contracted in 30 days
Any illness contracted during the cool off period or within 30 days of purchasing insurance will not be covered.
Critical Illness Contracted During 90 Days Not Covered Under Health Insurance - Icon
Specific waiting period of 24 months
Specific waiting period of 24 months
You will not be eligible for any claim for 16 specific diseases listed in the product terms and conditions.
Apart from the above mentioned treatments, Royal Sundaram’s health insurance plans permanently excludes covering the cost of the below mentioned medical treatments
  • Cosmetic surgery
  • Liposuction
  • Botox
  • Acupressure
  • Reflexology
  • Health supplements
  • Self harm
  • Conditions developing due to alcohol or drug abuse
  • Obesity/ weight management
  • Rest cure
  • Rehabilitation and respite care
  • Gender transplant treatment
  • Hazardous or adventure sports
  • Ancillary hospital charges
  • Circumcision
  • Hereditary conditions
  • Private nurse charges pre or post hospitalisation
  • Sexual wellness treatment
  • Sexually transmitted diseases
  • Alopecia
  • Treatment of developmental illnesses
  • Injuries caused due to nuclear, chemical or biochemical attack
  • Artificial life maintenance is not covered after the policyholder reaches no point of recovery
  • Sleep disorders
  • Drugs or any form of treatment not supported by a prescription
  • Preventive care

Types of Health Insurance Plans offered by Royal Sundaram

Health Insurance for Family
Family Health Plan
Planning to start a family? Enjoy maternity cover up to two deliveries and other healthcare benefits with Royal Sundaram's Family Plus Health Cover.
Individual Health Insurance
Individual Health Care
Don’t stress about hospital bills. Secure your health and wellness with Royal Sundaram's Lifeline Health covers.

Benefits of Health Insurance Plans by Royal Sundaram

Exhaustive Health Cover
Exhaustive health cover
Exhaustive health cover
Our health plans are designed to suit everyone's needs. Our different plans offer comprehensive and exhaustive health cover for individuals and families for all kinds of medical expenses.
Affordable premiums
While it is important to have a robust health insurance policy, many people turn down opportunities to buy health insurance because of sky high premiums. Such is not the case with Royal Sundaram’s Lifeline Health Insurance Plans. Prospective policyholders can choose from our range of Lifeline Health Plans and select a plan with a premium that best suits their needs.
Affordable Premiums for Health Insurance
Affordable premiums
Wide network of hospitals
Wide network of hospitals
Wide network of hospitals
Royal Sundaram has one of the largest networks of affiliated hospitals - so you can avail medical care just about anywhere in the country.
Claim settlement ratio
A claim settlement ratio refers to the percentage of claims that an insurance provider settles among the total number of claims. With features like cashless hospitalisation and reimbursements, we have a claim settlement ratio of 81.5% as of March 31, 2020. This means you can truly focus on recovery while we take care of the financial burden.
Claim settlement ratio
Claim settlement ratio

Cashless Hospitalisation by Royal Sundaram's Health Insurance

We will pay your hospital bills. You can just focus on recovering.
Here is our list of popular affiliated cashless hospitals with state of the art healthcare facilities and trained medical professionals.
NoTPA NameTotal Network Hospital ListWeb Link
1Paramount Health ServicesView/DownloadClick Here
2Medi Assist Insurance TPAView/DownloadClick Here
3Raksha Health Insurance TPAView/DownloadClick Here
Click here to view Excluded Hospitals List

How is your health insurance premium calculated?

The premium on your health insurance policy is determined by
  • Insurance plan
    Your insurance plan will determine your premium and your coverage. A larger sum insured will have a higher premium and vice versa. Additionally, the number of people insured by the policy will also determine the premium amount.
  • Pre-existing medical conditions
    Any pre-existing medical conditions are likely to increase your premium amount. Additionally, there will be a waiting period before you can claim insurance for treating pre-existing medical conditions.
  • Lifestyle
    Your current lifestyle can greatly affect your health insurance premium as the risk of health related concerns increases or decreases due to your lifestyle choices. For instance, smokers stand a greater risk of health concerns in the future and that’s why their premium is likely to be higher.
  • Age
    Your age is a huge factor in determining your health insurance premium. The younger you are, the lower your premium. It is recommended to purchase a health insurance premium at a younger age because the immune system of a younger person is usually much stronger. This lowers the probability of medical treatment. This means you can double your health cover using no claim bonuses. As a person’s age advances, the health risks increase making the premium much higher.
  • Location
    Your location can also help determine the cost of your premium. If you are residing in places other than Delhi/NCR, Mumbai (including Thane and Vashi), Bengaluru, Chennai, Pune, Hyderabad, Kolkata and Gujarat, we offer a 15% discount on your premium in our Lifeline and Family plus products.

Want to buy a health insurance policy?
Here is what you need to keep in mind.

Health Insurance Claim Process
Adequacy of Sum Insured
Please ensure the opted sum insured is adequate for any possible large claim in the future. It is recommended that you opt for any sum insured starting from Rs 5 lakhs and above.
Health Insurance Coverage - Icon
Right coverage
Remember to choose a plan with the right health cover. Keep your age, lifestyle and current health conditions in mind before choosing a health insurance plan. As you age, your healthcare expenses could increase - choose a plan that doesn’t burden you during a health emergency.
Network hospitals
Network hospitals
Always check for your insurance provider’s network of hospitals that offer cashless hospitalisation. This means your insurance provider will settle the hospital bills directly and you don’t have to worry about payments.
Maternity benefits
Maternity benefits
Want to start a family? Prenatal health care can be expensive. Look for a plan that offers maternity cover as well as infant cover.
Pre and post hospitalization
Pre and post hospitalization
Planning a medical treatment? Check if your health insurance policy covers pre and post hospitalisation expenses.
Preventive health care
Preventive health care
Look for a health insurance policy that offers to cover the cost of regular medical checkups and offers cover for disease management.

How to make a claim for your Royal Sundaram Health Insurance

When you purchase a health plan, the speed and efficiency at which the insurance provider processes your insurance claim makes your health plan purchase truly worthwhile. You can make a request for cashless hospitalisation or opt for reimbursement. Let's understand both ways to make a claim.
Health Insurance Claim Through Cashless Hospitalisation
Claim through Cashless hospitalisation
Step 1
The insured person files a claim within 24 hours of hospitalisation for emergency medical treatment and 48 hours before elective hospitalisation.
Health Insurance Claim Through Cashless Hospitalisation
Step 2
In case of cashless hospitalisation, the hospital will let us know and we will process the claim.
Step 3
When you are discharged, we will directly settle the bill with the hospital.
Health Insurance Claim Through Reimbursement
Claim through Reimbursement
Step 1
When an insured person opts for treatment at a non network hospital, they must let us know about the hospitalisation at least 48 hours in advance in case of elective treatment or within 24 hours of hospitalisation in case of emergency hospitalisation.
Health Insurance Claim Through Reimbursement
Step 2
On discharge from the hospital, the insured person must send to the Third Party Administrator (TPA), all medical treatment invoices and reports.
Step 3
TPA will verify the claim and reimburse the insured person for their expenses.
For making a claim you can call us or write to us.
Contact no.
1860-258-0000, 1860-425-0000 (From Monday to Saturday 08:00 to 21:00 and Sunday 08:00 to 17:00.)
Email
Email: customer.services@royalsundaram.in
Documents For Health Insurance Claim
  • Name of the patient (insured person)
  • Diagnosis
  • Hospital details - Name, Address, Contact no.
  • Treating doctor details - Name & Contact no.
  • Date of hospitalization
  • Expected discharge
Documents For Health Insurance Claim

Save Tax with Health Insurance

There are several income tax benefits on the purchase of health insurance. You can avail of a tax rebate up to Rs 75,000 on your health insurance premiums under Section 80D of the Income Tax Act. The following table will help you understand and compare the tax benefits on different types of health insurance plans.
Covered relativesAmount of tax rebate
Self / spouse / childrenUpto ₹25,000
Self / Spouse / Children / Parents (below 60)Upto ₹50,000
Self / Spouse / Children / Parents (above 60)Upto ₹75,000

Why buy Health Insurance Online

Quick
Quick
You can buy health insurance online in just a few minutes. With Royal Sundaram, you can get a quote for your health plan in just three steps.
Convenient Health Plans
Convenient
You can easily compare different health plans online to find one that best suits your needs.
Secure
Secure
You can easily purchase your health plan online with a secure and safe transaction - this can be done through online banking.
Basic Health Plans - Icon
Instant issuance without medicals
We offer basic health plans without any medical tests required.

Customers Review Our Health Insurance Plans

4.4/5 stars
StarStarStarStarStar
Quotes
My father had a heart attack and had to undergo an emergency stent insertion. I wasn't in the country at the time so I called the claims team at Royal Sundaram and explained my situation. They were very cooperative and assured me that I didn't have to worry. The entire week that my father was in the hospital, I didn't have to worry about any expenses. The whole treatment was cashless.
profile
M.Kale.
Quotes
My wife and I were looking for a health plan that would take care of any expenses of our future children. We just had a daughter. Not only did the insurance plan cover the maternity expenses, our daughter is only 3 months old and is already covered under our health plan.
profile
Sarvesh Mehta

Frequently Asked Questions About Health Insurance

Have a question on Health Insurance? Search for it.
FAQs on Health Insurance
How will health insurance pay for my emergency medical expenses? How will health insurance pay for my emergency medical expenses?
A health insurance policy requires you to pay annual premiums as per your chosen health plan. Once you or any other policyholders under a health insurance plan require medical treatment at a hospital or medical institution, you need to contact your insurance provider. They will in turn contact the medical centre and will either pay your hospital bills (if you have opted for cashless insurance) or will reimburse you after you share your bills with the insurance provider.
Who is eligible to buy health insurance?

Anybody who is above the age of 18 and is a resident of India is eligible to buy health insurance. However, the age eligibility for coverage will differ between insurance providers.

  • The general eligibility for health insurance is 18 years to 65 years.
  • Under family floater plans, policyholders can add the names of newborn babies to the policy ninety days after birth.
  • Senior citizen health insurance plans usually start at 60 years and depending upon the insurance provider, can cover anywhere from 65 years to no age limit.
Can I buy more than one health insurance plan?

There is no hard and fast rule that you can only limit your health plan to a single insurance provider. Often, some insurance providers might not cover the cost of specific medical treatments. For instance, LASIK eye surgery or critical illness.

You are free to buy more than one health plan from multiple health insurance providers depending on your medical needs.

What are the types of health insurance plans I can buy?

Depending on the person or people being insured, there are several types of health insurance plans offered by insurance providers. These include -

  • Individual Health Insurance Plan
  • Family Floater Health Insurance Plan
  • Senior Citizen Health Insurance Plan
  • Critical Illness Insurance Plan
  • Maternity Health Insurance Plan
Can I pay my health insurance premium in instalments?

Most health insurance providers require policyholders to pay the insurance premium on an annual basis but some do offer flexible payment plans which allows the policy holder to break down the premium and pay in instalments on a monthly, quarterly, half yearly basis.

Why should I buy health insurance at an early age?

It is always recommended that people buy health insurance early on - this doesn't just give them tax benefits, they can also avoid getting crushed under personal loans and medical loans. As policyholders get older, their lifestyle habits, existing health conditions, etc. are factors used to determine their premium. This means health insurance for an older person can be much more expensive than health insurance for a younger person.

Additionally, it is always recommended to buy health insurance at an early age because policyholders can enjoy the benefit of no claim bonus and end up with double the sum insured in just a few years.

Will I be eligible for tax benefits if I buy health insurance?

Yes. The purchase of a health insurance policy comes with tax benefits. Taxpayers are eligible to claim tax benefits up to a specific amount of rupees under Section 80D of the Income Tax Act, 1961.

Will I gain more benefits by buying health insurance at an early age?

Yes, buying a health insurance policy early on is highly recommended as it is said to be very beneficial to the policyholder. You can usually enjoy the following benefits -

  • Lower premium amount
  • Higher cover if no claim or cumulative bonus applies
  • Lower rejection rates
  • Wellness benefits
  • Tax benefits
What should I consider before buying my health insurance policy?

When you are buying a health insurance policy, don’t just go for one with the lowest premium or the easiest purchase process. Go for a comprehensive health insurance plan that will work best for you and your loved ones.

The team at Royal Sundaram always recommends choosing a health insurance policy that is SMART.

Service expenses covered under the policy

Medical care network

Access to insurance providers

Ratio of settlements

Top up or value added services

Do I get a discount on the renewal of my health insurance policy?

Not really. But if the policyholder has not made a claim in that year, they are entitled to a no claim or cumulative bonus. Under this bonus, the policyholder is usually offered a discount on the premium or is offered an increase in the sum insured at no extra cost. The decrease in premium or the increase in sum insured can usually be applied each year till a predefined threshold is reached.

What is meant by donor expenses?

Sometimes, the insured person needs to undergo a medical procedure that involves organ transplant. In such a scenario, the policyholder is required to ensure that all the hospitalization expenses incurred by the donor in organ donation except the cost of the organ during an organ transplant are included under donor expenses.

What to look for in a COVID-19 health plan?

While you might be taking all precautionary measures to avoid the Coronavirus, it is always recommended that you prepare for a health emergency as the cost of treating Coronavirus is considerably higher. Also remember, most coronavirus specific health plans are individual plans and not family floater or group health plans. If you are looking for a Covid-19 health insurance plan, make sure it covers the following expenses -

  • Hospitalisation expenses
  • Ambulance expenses
  • PPE Kit costs
  • Medicine costs
  • Doctor's consultation costs
  • ICU costs
What is a pre-existing disease?

A pre-existing medical condition, like its name suggests, is an ailment or an injury or a medical condition that is already affecting the person who is applying for a health insurance policy. Some of these conditions include -

  • Depression
  • Sleep apnea
  • Diabetes
  • Hypertension
  • High cholesterol
  • High blood pressure
  • Asthma
I have been recently diagnosed with a medical condition. Will I be allowed to buy health insurance?

Health insurance is offered to people with pre-existing medical conditions; however, there will be certain underlying conditions to the provision of the health insurance policy. There will be a wait time before the policyholder can claim the cost of treatment for those pre-existing medical conditions. There might also be a possibility that the policyholder might have to pay a higher than usual premium amount as the risk of health emergencies is considerably higher.

Can the waiting period for pre-existing conditions be reduced?

Yes

  • The waiting period for individual health plans can be reduced at the price of additional premium.
  • Group health insurance policies generally don’t have a specific waiting period as a large number of people are insured together.
  • If a policyholder is diagnosed with an ailment like diabetes or high blood pressure etc during the waiting period, it will not be considered as a pre-existing condition and the policyholder can claim expenses for medical treatment.
  • Some senior citizen health plans usually get rid of the waiting period by offering a co-pay clause where the policyholder and the insurance provider will share expenses based on a predetermined ratio.
  •  
What if an ailment is diagnosed during the waiting period? Does that fall under the category of pre-existing medical conditions?

If a policyholder is diagnosed with an ailment like diabetes or high blood pressure etc during the waiting period, it will not be considered as a pre-existing condition and the policyholder can claim expenses for medical treatment.

Will I be allowed to cover my family under my health insurance? Will I be allowed to cover my family under my health insurance?

Insurance providers offer coverage to several people under family floater plans including the following -

  • Self
  • Spouse
  • Children (aged above 3 months and below 18 years)
  • Dependent parents
  • Parents in law
  • Siblings
Is my health cover valid anywhere in India?

Usually, insurance providers have a wide network of affiliated hospitals where the policyholder can claim health insurance. However, it is recommended that people signing up for a health insurance policy look up if there are any clauses citing geographical limitations in their insurance policy.

I already have a health insurance policy, I just want to increase my sum insured. Is that possible?

Your health insurance policy is renewed each year and you can consider increasing the sum insured or look at adding other value added benefits to your existing health insurance plan at the time of policy renewal.

Will my health insurance cover begin from day one?

No. When you purchase a health insurance policy, there is usually a cooling period of 15-30 days or as specified in the contract before the policy becomes active. This cooling period is set aside for the policyholder if they would like to cancel the policy. However, some insurance providers can cover the cost of medical treatment from the very next day of purchasing medical insurance. Especially if you have a health insurance policy with an accident cover. Additionally, if you have pre existing medical conditions, there will be a waiting period - this waiting period can be anywhere from 1 to 4 years.

Is maternity covered in standard health insurance policies?

Most health insurance providers do not cover the cost of maternity in their offerings unless specified in the policy - but there will be a waiting period between two to four years to claim maternity costs from your health insurance provider. If maternity costs are included in the health insurance policy, the premium is likely to be higher.

Does the health insurance renewal premium increase every year? Does the health insurance renewal premium increase every year?

Health insurance premiums increase from time to time but it could be for various reasons. Let's understand these reasons in brief-

Change in age

Typically, Health Insurance premium is charged based on age slabs. If the age changes from one slab to another the premium will rise.

COVID-19 pandemic

The number of insurance claims usually increase after a natural disaster but that is usually limited to a specific region. The pandemic however has hit our country in an unexpected and unimaginable way. With so many people claiming insurance, it is the natural progression for insurance premiums to increase.

Inflation

Inflation plays a very important role in determining health insurance premium rates. Naturally, treatments which weren’t as expensive in the past are bound to get more expensive in the future. This is another reason why health insurance businesses charge higher premium amounts after intervals.

Do I get my money back if I have not utilised the cover provided by the health insurance and the cover period is over?

Sometimes, health insurance policyholders might not get any medical treatment in the time that they are insured. This does not mean that they will get their money back. But it does entitle them to a no claim bonus, if the same is provided by the health insurance provider.

What is a cumulative bonus?

When a policyholder does not claim their health insurance policy for the period they are insured, they are usually offered a cumulative bonus on renewal. A cumulative bonus is an increase in the sum insured for every year a claim is not made. This is only offered to a specified limit. Additionally, a cumulative bonus is offered by insurance providers on indemnity based health insurance plans and only when the policy is renewed by the policyholder without any breaks.

Can I cancel my health insurance policy after purchasing?

Yes. If you are not satisfied with the terms of your purchased health insurance policy, you can apply for cancellation within 15 days of receiving the policy documents or before the insurance policy becomes active or as per a time specified in the insurance contract.

What if I miss the premium renewal date?

Most insurance providers will offer a grace period of two to four weeks from the date of renewal in case the policyholder is unable to pay the premium in time. However, if the grace period has passed and the policyholder has not paid the premium, it could lead to the following possibilities -

  • Cancellation of the health insurance policy
  • Denial of health coverage
  • Denial of policy renewal
  • In case the insurance provider allows the renewal of the policy, there is a chance that the policyholder might have to serve the waiting period for specific medical treatment like maternity cover or pre-existing medical condition coverage from the beginning.
Can policy be transferred from one insurance provider to another provider without losing the benefits?

Yes. Policyholders can choose to transfer their existing health insurance plan to another insurance provider as per a circular issued by the Insurance Regulatory and Development Authority (IRDA).

What if I am not treated at a network hospital? What if I am not treated at a network hospital?

Sometimes, in case of a medical emergency, like an accident, it might not be possible to take the policyholder to an affiliated network hospital. In such a scenario, health insurance can still be claimed but cashless hospitalisation is unlikely to be available. The policyholder will be required to bear the cost of medical treatment and submit the bills to the insurance provider for reimbursement.

What are the documents required for claiming health insurance?

While making a health insurance claim, the policyholder is expected to have the following documents -

  • Proof of identity
  • Proof of insurance
  • Health card
  • Hospital bills
What is no claim bonus in health insurance?

A no claim bonus could mean that the policyholder can either receive a discount on the premium or a cumulative benefit which refers to increased sum insured without actually paying for it. Most insurance providers will offer a 5% cumulative bonus on your sum insured with each year of no claim.

For instance, if the sum insured is for ₹5 lakhs, the policyholder will receive added coverage worth ₹25,000 after the first year of not making a claim. Similarly, they will receive added coverage worth another ₹25,000 for two consecutive years of no claims and so on. A no claim bonus can double a health insurance policy holder's sum insured by 50% in consecutive years of no claims.

Will I get a refund on my health insurance premium?

When you buy health insurance, you are offered a free look period or a time when you can cancel the policy if you aren’t happy with the benefits offered. This period is usually for 15 days and sometimes has the option to extend for 30 days. It is only after this period that your health insurance policy kicks in.

What documents do I need if I want to buy health insurance?

Buying a health insurance policy online or offline is fairly simple. You just need to submit the following documents -

  • Proof of identity and age

             Aadhar, PAN, Passport, Voter ID card, Driving license

  • Proof of residence

           Aadhaar, Passport, Voter ID card

  • Documents proving medical check up.
Is there a limit on the number of claims that I can avail in one year?

Your health insurance policy usually covers the cost of medical treatment for a fixed amount. Until this cost is not exceeded, you can claim your health insurance policy as many times as you like.