How to choose the best health insurance plans in India
Free Demat & Trading eKYC APPLY e-IPO Fund Transfer



Author Image LKP Wealth Advisory
Insurance | May 05
blog image

How to choose the best health insurance plans in India

Nobody in this world wishes to face emergency situations like accidents or some illnesses in their future, however, they can still happen anytime or with anyone. Due to lack of time and physical fitness, diseases have become common these days. With medical treatment being expensive these days, treating any disease especially at private hospitals can drain your savings. In such a situation, a good health insurance policy is the only solution which provides you with financial assistance that will cover you and your family’s urgent medical requirements by individual health insurance plans as well as family health insurance plans. But before buying an insurance policy, you should first research, which health insurance policy would be best for you and will give you more benefits. 

Here are a few tips to help you choose the best health insurance plans in India:  

  • While choosing an insurance company, it is important that you know the reputation of the company you are engaging with.  It is always important to choose a general insurance provider rather than a life insurance company. You can also check for customer reviews of the company in question to get a real perspective.


  • Choose a health insurance plan that secures you against a wide range of medical problems, and provides benefits including pre and post hospitalization, day care expenses, transportation, illnesses that you may be at risk of due to your family''''''''s medical history, etc. If you are thinking to buy family health insurance plans, check whether the policy meets the needs of each member of your family. It is important that you consider your requirements, compare plans on the basis of benefits and costs, and apply a little due diligence to choose a health insurance policy that caters to your needs.


  • While it is important to purchase a health insurance plan that meets your needs, it is equally important that it fits your pocket as well. Budget is a highly important aspect when it comes to buying an insurance policy. But it is even important to consider the plan’s benefits before you consider the price of the plan. It is a wise decision to buy a reasonably priced health cover at the start in order to make sure that you are covered properly and the premiums are also affordable as well. As time passes by, you can review your plan and increase cover appropriately with the rise of income, family size, as well as requirements, etc.

  • It is important to choose Cashless Service, in which you can get your medical treatment done without paying bills yourself. Hospital expenses are settled directly among the network hospital and the insurance companies. Though all insurers offer cashless service, there are only a few hospitals in India which are part of Insurer’s cashless network. Therefore, make sure to look at insurers’ cashless hospital list in order to find out if the top hospitals in your city are covered in the list or not. Make sure to look at the best hospitals in the city and not just the total number of hospitals. 


  • Individual plans are good for people who do not have a family to support. However, you can purchase a family health policy if you are buying health insurance keeping your family in mind, to enjoy maximum health benefits.

  • When you buy a health insurance policy, make sure that you check the number of years that plan will cover you or whether it offers limited renewability or not.  As you will require a health plan the most during the later years of age. Therefore, you must choose health insurance plans that offer lifetime renewability.

  • When it comes to choosing the right health insurance, it is always important to settle for one that provides the maximum benefits. You can compare health insurance policies online to ensure that you buy a health plan that fulfil your requirements. While selecting a medical insurance policy, make sure that the renewal process is simple.


  • The claim settlement ratio means the amount of claims settled by the insurance provider over the total number of received claims. You must always opt for an insurance that has a high claim settlement ratio. If you buy your policy from an insurance provider with a high claim settlement ratio, you can feel relieved that your claim will not get rejected, unless for a valid reason.


  • Another critical feature to look for when choosing the right health insurance policy is to check for add-on covers. These add-on covers are available on an extra premium payment

Characters remaining (300)
Characters remaining (300)
( For more than one recipient, type addresses seperated by commas )
No Comments Found
About The Bloggers
Our Expert Bloggers
Author Images LKP Securities Ltd. LKP Securities Ltd.
Author Images LKP Wealth Advisory LKP Securities Ltd.
Author Images LKP - Commodity & Currency Research & Advisory Research Desk
Author Images Mutual Fund Team - Info LKP Securities
Author Images Mr. Ashwin Patil Equity Analyst (Auto) , LKP Securities
Commodity 9
Mutual Fund 19
Equity 56
LKP Securirities Limited 4
Insurance 8

Registered Office: 203,Embassy Centre,Nariman Point,Mumbai - 400021.
Tel: +91 22 4002 4785/4002 4786 Fax: +91 22 2287 4787
Single SEBI registration number for NSE/BSE/MSEI : INZ000216033 CIN L67120MH1994PLC080039 and Maharashtra GSTN No. 27AAACL0963A1ZZ
Research Analyst registration number: INH00001758
DP registration number: IN-DP-CDSL-206-2003
PMS registration number: INP000005299
In case of grievances for Securities Broking /DP write to us on
For linking your Demat/trading account with Aadhaar, submit the self-attested copy
of your Aadhaar Card along with a written request signed by all the holders.
SEBI Complaint redressal system Advisory for investor

For Call & Trade / Support Desk Call :1800-1020-198 Customer Desk No : 022-41507346 Whats App Us :7208914888 Privacy Policy & Disclaimer | FAQs | Sitemap
Arbitration Mechanism on the Stock Exchange
Copyright © 2010 LKP
Designed , Developed & Content Powered by Accord Fintech Pvt. Ltd.

Download GetSetGrow@LKP App

Filing Complaints on SCORES- Easy & Quick :

  • A. Register on SCORES portal
  • B. Mandatory details for filing complaints on SCORES:
    • 1) Name
    • 2) PAN
    • 3) Address
    • 4) Mobile Number & Email ID
  • C. Benefits:
    • 1) Effective Communication
    • 2) Speedy redressal of the grievances

Attention Investors

  • Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
  • Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
  • Pay 20% upfront margin of the transaction value to trade in cash market segment.
  • Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard.
  • Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month. .......... Issued in the interest of Investors