Health Insurance Plans

Health Insurance Plans


Health insurance is a type of insurance policy that covers an insured individual’s hospitalization costs and medical expenses arising from an illness, injury, or accident, against a fixed premium amount.

What Is Health Insurance?

Health insurance plans in India are basic indemnity-based insurance products, which are specifically designed to provide financial assistance against medical expenses incurred in case of hospitalization or critical illnesses.

  • Health insurance in India is a contract between an insurance provider and a customer in which the insurer promises to pay for the medical bills if the policyholder is injured or sick in the future, resulting in hospitalisation.
  • Health insurance covers medical expenses, which includes hospitalization expenses, treatment expenses, surgeries or any other medical cost.

What Is Health Insurance?

Health insurance plans in India are basic indemnity-based insurance products, which are specifically designed to provide financial assistance against medical expenses incurred in case of hospitalization or critical illnesses.

  • Health insurance in India is a contract between an insurance provider and a customer in which the insurer promises to pay for the medical bills if the policyholder is injured or sick in the future, resulting in hospitalisation.
  • Health insurance covers medical expenses, which includes hospitalization expenses, treatment expenses, surgeries or any other medical cost.
  • Generally, insurance companies who provide the best health insurance plan in India are associated with a vast network of hospitals, which ensures convenient cashless treatment for the policyholders.
  • Furthermore, a health insurance policy also helps you cope with the work-pay loss while undergoing treatment, which may otherwise cause imbalances in your family finances.

In other words, having coverage with the best health insurance in India will enable you to opt quality medical treatment without burdening your savings 

Types of Health Insurance Plans

The best health insurance in India is the one that can adequately satisfy your specific financial needs. To be able to make an informed decision before purchasing, you must know the many types of health insurance plans in India, such as:

  • Cancer insurance plans
  • Critical Illness benefit
  • Individual health insurance plan
  • Family Floater Health Plan
  • Group Health Cover
     

Let us take a closer look at these plans in detail: 

Health Insurance

Types of Health Insurance Plans

The best health insurance in India is the one that can adequately satisfy your specific financial needs. To be able to make an informed decision before purchasing, you must know the many types of health insurance plans in India, such as:

  • Cancer insurance plans
  • Critical Illness benefit
  • Individual health insurance plan
  • Family Floater Health Plan
  • Group Health Cover
     

Let us take a closer look at these plans in detail: goals of your spouse and children.

Health Insurance

a) Cancer Insurance Plans 

Cancer Insurance plans help tackle the medical treatment expenses in case you are diagnosed with cancer. These plans provide comprehensive protection against all stages of Cancer. You receive a portion of the cover paid upfront upon diagnosis of cancer at an early stage, while all the future premiums are waived. If cancer is detected at a major stage, you may receive the full cover amount with an additional income for a specific period

b) Critical Illness Plans 

Along with the best health insurance in India, you can get a critical Illness plan/benefit that helps you avail comprehensive financial protection in the form of payouts upon diagnosis of any life-threatening ailments. Unlike health insurance companies, Max Life Insurance offers

Critical Illness Benefit as an add-on feature with its Max Life smart secure plus plan which is a term plan

c) Individual Health Insurance Plan 

An Individual Health Insurance Plan provides financial protection against health expenses incurred by an insured individual. These health insurance plans in India cover for surgical and hospitalisation expenses (for up to the cover limit as per the plan). The premium payable for an individual health insurance plan in India is decided based on the age and medical history of the individual purchasing the plan.

d) Family Floater Health Insurance Plan 

If you wish to purchase the best health insurance in India for your entire family (including spouse, children and parents) under a single plan, then you may choose a Family Floater Health Policy. The family members are covered against hospitalisation and surgical expenses under the family floater health insurance plan. The premium payable for a family floater health plan is calculated based on the age of the eldest family member.

You can use the health insurance premium calculator to estimate the sufficient cover and premium for you and your loved ones. It will help you get excellent benefits at affordable prices with the best health insurance plan in India.

e) Group Health Cover 

Group Health Insurance policy in India is purchased by employers for their employees. The premium payable under a group health insurance plan are usually standardized and offer the same set of benefits to all the employees covered under the plan, when you opt for the best health insurance company in India.

Benefits of Health Insurance Plans in India

Health insurance plans provide comprehensive coverage against the medical costs associated with the treatment of life-threatening ailments such as cancer and other medical emergencies. With comprehensive health insurance coverage, you can protect your finances while your medical insurance plan takes care of the high medical bills, hospitalization, and other treatment expenses.

Here are a few benefits of investing in the best health insurance policy in India

1. Comprehensive Coverage Against Medical Treatment Expenses 

Having health insurance enables you to receive the best possible care in case of a medical emergency, without putting any strain on your savings. In other words, the best health insurance company in India will offer comprehensive protection against medical costs, which may increase rapidly depending upon the situation. A helpful online health insurance tip

would be to use the health insurance premium calculator to estimate your coverage requirements.

In a nutshell, a health insurance policy provides coverage against hospitalization expenses, domiciliary expenses, day-care procedures, and ambulance charges, among other costs. Subsequently, you can focus on a speedy recovery while your loved ones can support their regular expenses.

2. Additional Financial Protection Against Critical Illnesses 

Some of the health insurance company in India offer critical illness insurance protection, either as a rider add-on or as a standalone health insurance policy. Having health insurance coverage, together with critical illness cover, provides financial protection against several life-threatening ailments such as kidney failures, cardiovascular issues, bone marrow transplants, stroke, and accidental dismemberment. Common critical illnesses covered under Max Health Insurance plans include:

  • Cancer of Specified Severity (malignant tumour)
  • Angioplasty
  • First Heart Attack – of Specified Severity
  • Open Heart Replacement or Repair of Heart Valves
  • Surgery to Aorta
  • Cardiomyopathy 
  • Primary Pulmonary Hypertension
  • Open Chest CABG
  • Blindness
  • Chronic Liver disease

In case you are diagnosed with a critical illness included under the predetermined list of your health insurance policy, you are eligible to receive a significant amount as a lump sum.

In case you are diagnosed with a critical illness included under the predetermined list of your health insurance policy, you are eligible to receive a significant amount as a lump sum. You can utilize this amount to meet your daily expenses, illness-related treatment costs, and any other requirements.

3. Avail of Cashless Treatment Across Leading Network Hospitals 

The health insurance plans in India, nowadays, also offer cashless claim facilities across any of the leading hospitals in the country. In cashless treatment, you do not have to take care of treatment costs out of your pocket. Instead, your health insurance provider directly settles the hospitalization expenses with the hospital on your behalf.

To avail of cashless treatment benefits, however, you have to seek admittance at any of the network hospitals as prescribed under your health insurance policy. Furthermore, you may have to fill out a pre-authorization form and provide your health insurance card to avail of the cashless treatment facility

4. Significant Tax Saving Benefits

To promote awareness and access to comprehensive health insurance plans to the masses, the government offers significant tax-deductions on the premium paid towards the health insurance policy.

Accordingly, the premium paid towards your health insurance policy is eligible for tax deduction under Section 80D as per income tax act 1961. The quantum of tax deductions under your medical insurance plan is as below:

a) If you purchase health insurance coverage for your spouse, children and yourself, you can save up to Rs 25,000 as tax deductions.

b) By including your parents (below 60 years of age) under your health insurance coverage, you can avail of additional tax deductions up to Rs. 25,000, to take your total tax savings up to Rs. 50,000

c) In case your parents are ageing 60 years or above, the total amount of tax savings may increase up to Rs. 75,000

d) You can also avail of a deduction of Rs. 5000 towards payment of preventive health check-up of your spouse, dependent children, parents and yourself.

Covered Individuals

Exemption Limit

Health Check up Exemption Limit

Total Deduction under Section 80D

Self, spouse and dependent children

Rs 25,000

Rs.5,000

Rs. 25,000

For self and family including parents (all under 60 years of age)

Rs. 25,000 + Rs. 25,000

Rs.5,000

Rs. 50,000

For self, family including senior citizen parents

Rs. 25,000 + Rs.  50,000

Rs. 50,00

Rs. 75,000

For self and family members including parents (all above 60 years of age)

Rs 50,000 + Rs. 50,000

Rs. 50,000

 Rs. 1 Lakh

*Note: The maximum deduction for preventive health check-ups, of up to Rs 5,000 shall be allowed for payment made towards such health check-up of your spouse, dependent children, parents and self, under Section 80D

Why Do You Need Medical Insurance?

A comprehensive health insurance policy or medical insurance not only helps take care of the medical bills but can also provide coverage for other medical tests, treatments and procedures as per your need. With the best health insurance policy in India included in your financial plan, you can avail of sufficient financial coverage in any dangerous situation.

Having health insurance is a crucial decision for several reasons. In the absence of health insurance coverage:

  • You are likely to utilize all of your savings while undergoing medical treatment and end up with a fiscal burden
  • You may have to opt for a sub-optimal treatment in case you do not have sufficient savings to take of the expenses

On the other hand, some of the best health insurance plans in India provide:

  • Comprehensive coverage benefits that outweigh the costs of buying health insurance
  • Tax savings under Section 80D on the premium payable for health insurance coverage
  • Financial assistance to cover treatment, pre-and post-hospitalization expenses within the coverage tenure

Certain health insurance plans in India such as Max Life Cancer Insurance Plan (UIN: 104N093V03)] * help provide comprehensive financial protection against all stages of cancer, by giving you an option to increase the sum assured under the policy by 10% for the first five claim-free years, at no extra cost.

* A Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Plan

How to Buy an Online Health Insurance Plan?

The primary purpose of health insurance plans in India is to provide comprehensive financial coverage to you and your family members. Thus, you need to make sure that you are choosing an health insurance policy with sufficient coverage and cost-effective premiums payable.

Here is how you can purchase online health insurance coverage

  • Fill in your details for a life/ health insurance plan/ cancer plan
  • Add the amount of critical insurance/ cancer insurance coverage (or sum insured) that you need with your online health insurance
  • Choose the maximum medical insurance coverage tenure as the chances of contracting a critical illness increases with age.
  •  Use an online health insurance premium calculator to arrive at the premium amount payable based on your age, gender, lifestyle preferences, chosen health insurance coverage (or Sum Insured) and Maximum Coverage Age.

Health Insurance

Choose the maximum medical insurance coverage tenure as the chances of contracting a critical illness increases with age.

The primary purpose of health insurance plans in India is to provide comprehensive financial coverage to you and your family members. Thus, you need to make sure that you are choosing an health insurance policy with sufficient coverage and cost-effective premiums payable.

Here is how you can purchase online health insurance coverage.

  • Fill in your details for a life/ health insurance plan/ cancer plan
  • Add the amount of critical insurance/ cancer insurance coverage (or sum insured) that you need with your online health insurance.
  • Choose the maximum medical insurance coverage tenure as the chances of contracting a critical illness increases with age.
  • Use an online health insurance premium calculator to arrive at the premium amount payable based on your age, gender, lifestyle preferences, chosen health insurance coverage (or Sum Insured) and Maximum Coverage Age.

Choose the maximum medical insurance coverage tenure as the chances of contracting a critical illness increases with age.

Health Insurance

Who Should Buy Health Insurance Plans?

Buying a health insurance policy for yourself and your loved ones is a crucial financial decision. Availing of medical insurance has become a necessity because of how expensive medical care is, especially in today’s fast-paced lifestyle-driven world.

Therefore, if you are a salaried or self-employed individual who has dependents to take care of, you must invest in a health insurance policy. Using a health insurance premium calculator will give you a better understanding how your profession may impact the health insurance coverage required. Furthermore, buying the health insurance plan becomes essential if:

  • Your age lies between 25 to 65 years
  • You want to make sure that your family remains protected during a medical crisis
  • You also want to maximize your tax savings beyond the limit offered under Section 80C of the Income Tax Act (health insurance premiums are tax-deductible under Section 80D of the Act)
  • You are a Resident Indian National [NRIs (Non-Resident Indians), PIOs (Persons of Indian Origin), OCIs (Overseas Citizenship of India) or foreign nationals of Indian Origin cannot purchase health insurance plans in India]

Health Insurance Plan Exclusions

Health Insurance policy in India offer coverage which varies from one insurer to another. But, there are few common things which are not covered by some of the best health policy in India. Following are some of the most common health or medical insurance plan exclusions we should be aware of:

1. Coverage of critical illnesses are pre-existing diseases is subject to a waiting period which can vary from one insurance company to another

2. Treatment done in abroad or by an under-qualified medical professional

3. Pre-existing condition: Defined as a cancer condition (primary or metastatic); pre-cancerous condition or related condition(s) for which the insured had symptoms or was diagnosed earlier or got medical treatment prior to the date on which the policy was issued

4. Caused or contributed by (in whole or in part) Sexually Transmitted Diseases AIDS or HIV

5. Caused or contributed by (in whole or in part) any of the following:

  • Intoxication by alcohol or narcotics or drugs not prescribed by a Registered Medical Practitioner.
  • Nuclear, biological or chemical contamination (NBC)

Note: The Health Insurance exclusions mentioned above can vary from one insurer to another. It is recommended to check for all the health insurance inclusion and exclusion before choosing the best health insurance plan in India.

Documents Required to Buy Health Insurance Plan in India

Following are some of the documents that you might be asked to furnish while buying health insurance plan in India:

  • Age Proof
  • Identity Proof
  • Address Proof
  • Medical Reports
  • Passport size photo

Note: The list of documents required might vary from one health insurer to another.

Benefits of Max Life Cancer Insurance Plan

Max Life Cancer Insurance Plan (UIN- 104N093V03) is a Non-Linked Non-Participating Individual Pure Risk Health Insurance Plan. Benefits defined under the plan are payable only on the diagnosis of cancer as specified. There is no maturity or surrender benefit available under the health insurance coverage.

As one of the life insurance companies in India, we offer the following benefits with Max Life Cancer Insurance Plan –

1. Coverage against All stages of Cancer

Max Life Cancer Insurance Plan provides coverage against all stages of cancer. In case, you are diagnosed with cancer at an early stage, you will receive 20% of the sum assured under the plan upfront, while the remaining amount is payable if the cancer develops into a major stage.

Health Insurance

Max Life Cancer Insurance Plan (UIN- 104N093V03) is a Non-Linked Non-Participating Individual Pure Risk Health Insurance Plan. Benefits defined under the plan are payable only on the diagnosis of cancer as specified. There is no maturity or surrender benefit available under the health insurance coverage.

As one of the life insurance companies in India, we offer the following benefits with Max Life Cancer Insurance Plan –

1. Coverage against All stages of Cancer

Max Life Cancer Insurance Plan provides coverage against all stages of cancer. In case, you are diagnosed with cancer at an early stage, you will receive 20% of the sum assured under the plan upfront, while the remaining amount is payable if the cancer develops into a major stage.

Health Insurance

2. Dual Benefit of Lumpsum Payout and Income if Major Stage Cancer is Diagnosed 

In case you are diagnosed with a major-stage cancer, you will receive the full sum assured amount with an additional 10% as Income (annually) for the next five years.

3. Indexation of Sum Insured 

Max Life Cancer Insurance Plan offers an inbuilt-indexation benefit. Herein the Sum Insured under the plan increases by 10% (simple rate) for the first five claim free years at no extra cost (up to a maximum of 150% of the basic sum assured).

4. Significant Tax Saving Benefits 

Tax benefits apply to the premiums paid and benefits received by you as per Section 80D of the Income Tax Act 1961. Tax benefit are as prevailing tax laws subject to change.

5. Waiver of Premium Upon Early Detection of Cancer 

In case you are diagnosed with cancer at an early stage or a pre-cancer stage (carcinoma-in-situ), you will immediately receive a fixed percentage of the sum assured, while all future premiums payable are waived off.

6. Long Term Coverage 

Max Life Cancer Insurance Plan allows you to avail health insurance coverage up to the age of 75 years, making it a great health insurance plan

What is the Difference between Health Insurance Plan, Cancer Insurance and Critical Illness Insurance?

In India, it is prudent to invest in Critical Illness (CI) and health insurance plans to avail of financial assistance against medical treatment costs for various health ailments and related hospitalization.

With the growing number of cancer patients in the country, however, it is advisable to consider buying a dedicated cancer insurance plan to help mitigate the financial burden related to cancer treatment expenses.

To help you understand, we are listing the key differences between health insurance, CI insurance and cancer insurance in the below table 

Health Insurance

What is the Difference between Health Insurance Plan, Cancer Insurance and Critical Illness Insurance?

In India, it is prudent to invest in Critical Illness (CI) and health insurance plans to avail of financial assistance against medical treatment costs for various health ailments and related hospitalization.

With the growing number of cancer patients in the country, however, it is advisable to consider buying a dedicated cancer insurance plan to help mitigate the financial burden related to cancer treatment expenses.

To help you understand, we are listing the key differences between health insurance, CI insurance and cancer insurance in the below tableHealth Insurance

 Type of Insurance

Cancer Insurance

Critical Illness Insurance

Health Insurance Plans

Reason to Purchase

• Covers cancer treatment expenses by payment of lump sum amount after diagnosis
• Benefit-based policy

• Payment of lump sum amount after diagnosis
• Benefit-based policy

• A basic indemnity-based plan for commonly occurring ailments

• Provides either reimbursement for the expenses or cashless treatment

What Does It Cover?

Provides financial coverage against all stages of Cancer

Common critical illnesses, as per the policy document

Covers the incurred medical and surgical expenses

Who Should Purchase?

• Ideal for those who wish to prepare against cancer

• Can purchase a cancer insurance with a health insurance policy.

• Ideal for those who wish to prepare against critical illnesses
• Can purchase health insurance with a critical illness policy

• Ideal for tackling the rising healthcare costs.

• Has precedence over the other two.

• Can always add cancer and critical illness cover later

 

 

 

 

Ensure Protection Against Medical Emergencies with Health Insurance

Nowadays, having health insurance coverage has become a resourceful weapon against the rising costs of medical treatment. The Health insurance plans provide comprehensive financial assistance against the various in-patient hospitalisation and treatment expenses.

At the same time, you can enhance the health insurance coverage by augmenting your basic medical insurance policy with a Critical Illness (CI) and Cancer insurance plan. This way, you can avail of all-around financial protection against common and life-threatening ailments, including cancer. Be sure to check the health insurance claim settlement ratio before making the purchase. Max Life Cancer Insurance Plan (UIN-104N093V03) provides comprehensive coverage against all stages of cancer. You can also avail of the Max Life Group Critical Illness (Additional Benefit) Premier Rider (UIN: 104B031V02)* to secure yourself against up to 40 life threatening ailments such as kidney failures, stroke, Open Chest CABG (Coronary Artery Bypass Graft), muscle sclerosis and permanent paralysis.

Frequently Asked Questions

1. How Do I Choose A Health Insurance Plan? 

When choosing the best health insurance policy in India, it is to purchase one that meets your needs and suits your budget. However, to get the optimized value of the best health insurance policy in India, you should think about the plan's benefits before you think about the price. You can use the health insurance premium calculator for more accurate estimations. Also, remember to check the health insurance claim settlement ratio of the insurance provider.

2. What Are the Diseases Covered Under Health Insurance Policy? 

When looking for the health insurance company in India, you should look at the diseases covered under their policy. It may vary across different health insurance plans, however, typically it includes:

  • Cataract surgery 
  • Cancer
  • Dengue
  • Diabetes
  • Injuries due to accidents

3. Which Health Insurance Plan Covers Cancer? 

Some of the health insurance plan in India today cover almost all major critical illnesses, including cancer. These policies typically only cover inpatient hospitalisation and care in Indian hospitals. However, adding a critical illness policy along with the best health insurance plan you can find, is the best way to go about it for wider coverage.

4. Can We Claim Health Insurance Policy Immediately? 

Policyholders cannot claim payment from the insurer for any type of hospitalisation, scheduled or emergency, within 30 to 90 days of purchasing health insurance in India. They must wait 30 to 90 days after purchase of the policy before filing any claims for health insurance. Refer to the health insurance claim settlement ratio of the insurer to get a better idea of their record.

5. Can Cancer Patients Get Health Insurance Plan After Diagnosis? 

It is quite possible that you may not find a health insurance policy in India that would cover someone who has already been diagnosed with cancer, however, a serious illness cover may be added to the current term plan.

6. How Soon Can I Use Health Insurance Policy? 

There is a waiting period when you buy the best health insurance policy in India, which has to be completed before you can claim the health insurance policy.

7. Is It Worth Buying Critical Illness Insurance Policy? 

It is worthwhile to purchase a critical illness insurance package based on the main benefits. The plan helps you to maintain physical, mental, and emotional peace of mind while also facilitating a quick recovery if you contract a serious disease.

8. Does Normal Health Insurance Plans Cover Critical Illness? 

A standard health insurance plan in India mainly covers hospitalisation expenses. Critical illness insurance, on the other hand, pays out a lump sum if you are diagnosed with a critical illness that is protected by the policy.. When you use the health insurance premium calculator, you can see how adding the critical illness cover affects your premium amount.

9. Is It Better to Take Critical Illness Policy or Health Insurance Plan? 

During hospitalisation, your health insurance policy can take care of your emergency and outpatient expenditures. However, this coverage may not be extended to all diseases eve with the best health insurance in India, or may have a longer waiting time. With critical illness insurance, on the other hand, you get coverage for life-threatening illnesses such as cancer, bypass surgery, multiple sclerosis, renal failure, and so on

10. Does Max Life Health Insurance Plan Have 24x7 Customer Support? 

Here is the contact information for Max life Insurance-

  • Email us at claims.support@maxlifeinsurance.com, or
  • Call us at our below given Customer service helpline no’s between 09:00 AM to 06:00 PM Monday to Saturday (Non Toll free) 0124 421 9090 Extension 9699 OR 70047 64367 OR 1860-120-5577

11. In A Health Insurance Policy, What Does Cashless Hospitalisation Means?

Cashless facility is offered by some of the best health insurance company in India wherein the insurance provider will settle your bills directly with the hospital. You do not have to pay a single penny as the insurance company will cover the expenses on your behalf. Make sure to check the health insurance claim settlement ratio before purchasing.

12. How Can I Add My Family Members to My Existing Health Insurance Plan? 

You may be able to add your family members to the existing health insurance plan in India, depending on the policy type, terms and conditions and the insurance provider.

13. Can A Person Have More Than One Health Insurance Plans? 

For a single claim of health insurance in India, you can use different plans, such as your employer's group policy, your employee health policy, and your top-up health policy. Use the health insurance premium calculator when buying a health plan to plan your finances better.

14. How Much Does Health Insurance Cost for An Individual? 

With the health insurance company in India, you can get a suitable combination of benefits at an affordable price. However, the amount strictly depends on the benefits you have opted for and the insurer’s terms and conditions. You can get satisfactory estimates by using the health insurance premium calculator on the insurer’s website.

15. Do Health Insurance Plans Cover Diagnostic Charges? 

Yes, when you look for the health insurance policy in india, you may find some that cover a variety of medical exams. Blood checks, stool tests, CT scans, X-rays, sonography, MRI, and other tests are among them.

16. What Are the Documents Required for Buying A Health Insurance Plan? 

You can include your Aadhaar card, voter ID, passport, PAN card, and driving licence as proof of identity. Passport-Size Photo: Health insurance providers often need passport-size photographs of all policyholders.

17. Is Medical Test Mandatory to Purchase A Health Insurance Policy? 

If you are under 45 years old, most health insurance companies will grant you a policy without a medical exam. A medical examination is required for those over the age of 45. The customer is responsible for the costs of the pre-medical procedure.

18. Is There Any Difference Between Health Insurance and A Mediclaim Policy? 

A mediclaim plan covers only hospitalisation, accident-related care, and pre-determined diseases up to a certain amount. A health insurance policy provides adequate coverage for hospitalisation, pre-hospitalization, post-hospitalization, a certain sum assured and ambulance costs.

19. How Do I Estimate the Cost of Health Insurance? 

Health insurance premiums are calculated based on returns of these capitalizations. Medical Underwriting: Insurance products are underwritten to strike a balance between individual and group policies. For this, risk is analyzed from various angles and a broad spectrum of factors in taken into account. As a policy buyer, you can use the health insurance premium calculator to see the specifics.

20. Is there any tax benefit with health insurance premiums?

You can claim a deduction under Section 80D of the Income Tax Act, 1961 against the health insurance premium paid in the financial year. Under Section 80D, you can avail a deduction up to Rs. 1,00,000 for the health insurance premium paid. To know more about the health insurance premium for family and parents, click here.

21. What is waiting period in health insurance plans?

Waiting period or cooling period in health insurance is time period you need to wait at the start of your policy. In the waiting period, you will not be able to avail any health insurance benefits. No health insurance claim during this period is accepted by the insurer. Some of the Health insurers might accept claim during waiting period. You should connect with your health insurance provider to know more about waiting period of your health insurance policy. Also, check the health insurance claim settlement ratio beforehand to avoid any future disappointments.

22. What is the right time to buy Health Insurance Plan?

While you might think that you are healthy and fit, falling ill and diseases are something that we cannot control, which makes it important for us to take the right things in place to feel more secure and buying a health insurance policy will help us feel more financially secure in case of any severe diseases. So, it is always advisable to buy the best health insurance plan in India as early as you can. Following are some of the benefits of health insurance if you buy health insurance policy at an early life stage:

  • Lower premiums
  • Healthy Lifestyle with Regular Health Check ups
  • No Financial Stress as it pays for medical treatment, doctor’s bills, medicines

23. How to Select the Best Health Insurance Plan in India?

You should consider the following factors to choose the best health insurance in India:

  • Sum Insured
  • Coverage Limit
  • Premium Amount
  • Entry Age
  • Inclusions and Exclusions
  • No Claim Bonus
  • Waiting Period

A health insurance premium calculator will take these into factors and estimate a suitable coverage and premium rates for your financial profile. Apart from this, the health insurance claim settlement ratio is another crucial factor you should consider.

24. How much Health Insurance cover do I need?

While there are multiple factors to determine the health insurance cover, you can choose your health insurance cover on the basis of your medical conditions, medical background of the family members, income, age, health risks and most importance the health insurance premium amount you can afford to pay.

You can opt for a health insurance plan in India at an early age by using the health insurance premium calculator to see the impact on your finances.

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MAX LIFE CANCER INSURANCE PLAN

  • Multiple claims for early stage cancer detection
  • 100% cover amount is payable even during late stage cancer detection
  • Increase coverage upto 150% of original amount with every claim-free year
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Why Choose Max Life

Here are some of the numbers which speak about our accomplishments

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments
Claims Paid Percentage

99.35%

99.35%

(Source : Max life annual audited financials FY 20-21)

Max Life Presence

277 Offices

277 Offices

(Source : As reported to IRDAI, FY 20-21)

Sum Assured

₹1,087,987 Cr.

₹1,087,987 Cr.

In force (individual) (Source : Max Life Public disclosure, FY 20-21)

Assets Under Management

₹90,407 Cr.

₹90,407 Cr.

(Source : Max Life Public disclosure, FY 20-21)

More reasons why our customers choose us
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See what people have to say about our Health Plans

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