//Which is the cheapest health insurance in India?

Which is the cheapest health insurance in India?

The premium for Arogya Sanjeevani Policy is lower than other policies making it one of the cheapest health insurances in India. The product not only offers a wide coverage at an affordable premium, but the cover, terms and conditions of the policy are also standard (common policy wordings) across all insurers. This makes it easier for individuals to understand the policy. The Arogya Sanjeevani policy can be suitable for first-time health insurance buyers.

To be able to get such a large set of treatments at a relatively low premium stands out as a distinct advantage. The premiums for similar basic health plans in the market are 20-50% more expensive, a huge difference for buyers. While the plan seems to offer a good deal at a low cost, the market still has a lot of basic health plans that offer wide coverage and features.

Health Insurance policy covers you and your loved ones at the time of medical emergencies by paying for the expenses incurred during the treatment.

The premiums no doubt varies across insurers but what matters is what we are going to get for the premium we pay.

If you choose a “cheap insurance plan”, then at the time of actual claim you might be shocked to find that you may have to pay some amount from your own pocket, because of sub-limits in the policy.

The premium may be low but it may not be helpful during a medical emergency. Money should be the last thing in your mind, while protecting your health, which is your most prized asset.

The premium should cover a fairly acceptable room rent in any city, medical and surgical costs and also cover common treatment costs such as cataract, knee surgery, dialysis etc.

It is advisable to search for an appropriate cover instead of cheap one.

Still if you want to explore cheapest health insurance policies in India then you must take help of an online insurance web aggregator which deals in free health insurance quotes. It will help you in getting the quotes of available plans that allows you to compare according to your need and budget. There will be multiple options so choosing the best and cheapest one wouldn’t be difficult for you.

IRDAI, Insurance Regulatory and Development Authority of India has mandated ALL the health insurance companies to come up with a standard health policy called Arogya Sanjeevani policy for individuals and families which provides coverage up to Rs. 5 lakh for basic hospitalization-related expenses. And moreover, to make the product simpler to understand, the regulator has banned insurers from imposing deductibles or offering riders and variants with the policy.

Launched in 1st April 2020, this policy is known as the “Arogya Sanjeevani Policy”, suffixed by the name of the insurance company. For example, the Arogya Sanjeevani Policy by Star Health Insurance is called the “Arogya Sanjeevani Policy, Star Health Insurance.” or in the case of COVID-19

Always remember that buying a health policy solely based on premium is a grave mistake. So while choosing a health policy, you should remember to give priority to coverage and exclusions over the overall price of the product. Purchase a health insurance plan that offers comprehensive coverage, meeting your health insurance needs at a cost-effective price point.