A comprehensive guide to Health Insurance Policies in India


Due to ever-increasing medical costs, Health Insurance has become a viable option. It provides the needed financial assistance during medical emergencies. It funds treatments and covers out-of-pocket expenditures. That way, your only concern is getting better. You need not worry about the monetary aspect. In India, Health Insurance Plans operate on a simplistic scheme. The policyholder needs to pay a fixed premium to the insurer regularly. 

They can also buy add-ons to boost their coverage. Such features allow the policyholder to enjoy more perks from their policy. But before you consider such Insurance, it is best to consider other aspects too. The following is a list to broaden your understanding:

Premium-influencing factors

Like Car Insurance, Health Insurance premiums depend on various factors. In this case, the list includes:

  • Age 

It plays a significant role in determining your premium. For instance, most companies usually offer low premiums to youngsters. This is because the younger the insurer, the less likely they are prone to diseases. They also require lesser medical assistance when compared to older people. 

  • Geographical location

Where you reside also affects the premium rate. For instance, you opt for a Family Floater Plan. Now, if your family’s residence comes under a specific zip code, it could invite a higher premium. It is wise to check this aspect with your Health Insurance provider.

  • Medical history

Those chronic health conditions usually need consistent medical attention. Therefore, your medical records considerably influence your policy’s premium structure. 

  • Smoking habits

Everyone is aware that smoking is injurious to health. It invites different health issues. Hence, you need to pay a higher premium if you are a regular smoker. 


The sole objective of a Health Insurance Policy is to help you receive financial assistance to satisfy your medical needs. Besides that, it facilitates you in the following ways:

  • Supports your lifestyle 

Today, stress-induced ailments have become increasingly prevalent. While changing your lifestyle is the fix to these issues, compromising on work is also not feasible. Hence, having such Insurance is advisable. Even if you fall sick, you need not worry about monetary limitations. 

  • It saves you from ever-increasing expenses 

Technological advancements have affected treatment costs. If you develop an ailment requiring advanced treatment, you must bear these ever-increasing expenses. Health Insurance in India enables you to dodge such hefty amounts tactfully.

  • Covers out-of-pocket expenses

Most insurers offer comprehensive coverage at affordable premiums. They provide funding for doctor’s consultations, day-care treatment expenses, bed charges, pre & post-hospitalisation charges, etc. Sometimes, they also pay for various screenings and tests for a proper diagnosis. 


The most notable perks of buying Medical Insurance are:

  • It offers additional protection over and above your employer’s cover
  • It lets you enjoy a No Claim Bonus for a higher sum assured at the same premium
  • Premium paid towards Health Insurance Policies in India are eligible for tax deductions
  • Most providers offer you a cashless claim facility

Comments are closed.