Health Insurance

Health Insurance offers coverage for the expenses of hospitalisation and medical needs. These medical insurance policies can provide benefits such as critical illness treatments, hospitalisation coverage, daycare procedures, room rent charges, organ donor expenses, and so on. 

Here are the top Health Insurance plans you can purchase on Bajaj Markets. Check out these plans now!

Disclaimer: **The premium rates are indicative. The actual premium that you may have to pay may change depending on various factors. Please check the prevailing premium rates before purchasing your Health policy.

Here are the key highlights of Health Insurance plans available on Bajaj Markets. 

Here are the various features and benefits of getting Health Insurance.

 

1. Comprehensive Coverage

You can get very comprehensive medical insurance coverage which can include benefits for a plethora of medical needs and expenses. Health Insurance can cover:

• Hospitalisation costs

• Room rent

• Surgery costs

• Consultations

• Therapy

• AYUSH treatments

• Pre-hospitalisation and post-hospitalisation and more

   

2. Financial Security

A Health Insurance plan can offer you both cashless and pay-out coverage. This could be in the form of a lump sum or in the form of the insurance sum trickled as daily cash coverage. The pay-out option could help you pay your medical bills as well as support your family’s basic needs during hospitalisation. 

 

3. Pre-existing Disease Cover

You can claim the coverage from your insurer for the ailments and diseases that existed prior to purchasing your Health Insurance policy. Pre-existing ailments essentially refer to the asymptomatic illnesses developed prior to the policy duration that remained dormant and can be fatal if diagnosed at a later stage. 

 

4. Lifetime Protection

As per the Insurance Regulatory and Development Authority of India (IRDAI), you can continue to renew your Health Insurance policy for the rest of your life. This keeps the plan consistently active and allows you to claim benefits and coverage for as long as you’d like.

 

5. Tax Exemptions

Under Section 80D of the Income Tax Act of 1961, you are entitled to tax benefits as a regular premium-payer of Health Insurance. You can apply for up to ₹75,000 in tax benefits for the insurance purchased for yourself, your spouse, children, parents, etc. 

 

6. Network Access

Insurers often form tie-ups with various hospitals and medical facilities. This partnership allows you to approach such network hospitals and facilities for cashless treatments. Here, the hospital expenses you incurred will be settled between the insurer and the hospital. You are not required to pay anything from your own pocket up to the sum insured. Bajaj Markets offers you partners that hold affiliations with 6000+ network hospitals respectively.

Insurance providers offer an extensive variety of Health Insurance in India to cater to different people. Hence, you will find insurance policies that offer coverage for you, your spouse, your elders, your children, etc. Here are all the types of Health Insurance plans you can find on Bajaj Markets.

 

1. Individual Health Insurance Plans

Medical emergencies can catch you off-guard at any time. This is why it is critical for you to secure yourself with an Individual Medical Insurance plan. This plan is designed to offer adequate coverage for emergency medical treatment. With benefits like cashless treatments, pre-hospitalisation and post-hospitalisation coverage, benefits of daycare treatments and more, the individual health insurance plan is a great choice. 

 

On Bajaj Markets, you can find individual health insurance policies starting at ₹333/month with coverage starting at ₹2 Lakhs. 

 

2. Family Health Insurance Plans

When it comes to our loved ones, we always want to choose the best treatment options available. While you can definitely go for individual Medical insurance plans for each of the family members, family health insurance is the better choice.

 

With a family health insurance plan, a defined sum insured coverage amount is split among the family members for treatment costs. Being a single plan that offers coverage for the entire family, you need to pay a single premium amount, making it a cost-effective choice.

 

You can apply for family floater medical policies with coverage starting at ₹5 Lakhs for ₹708/month.

 

3. Senior Citizen Health Insurance Plans

Senior citizen health insurance plans are specifically designed for people above the age of 60 years. You can buy the policy for your parents or parents-in-law. It usually covers numerous critical illnesses, pre-hospitalization and post-hospitalisation treatment, in-patient costs, daycare procedures, and more. Besides, if you have a senior citizen health insurance plan for your parents, you can claim tax deductions under Section 80D of the Income Tax Act, 1961.

 

Bajaj Markets offers senior citizen health plans starting at just ₹1,868/month with minimum coverage of ₹2 Lakhs.

 

4. Top-Up Health Insurance Plans

In case you have already purchased a Medical insurance plan with lower coverage but wish to increase the coverage limit, the most cost-efficient way is a health insurance top up plan. Top-up health insurance is a very valuable add-on that can help you extend your total coverage amount by a large margin while you only pay a small portion of the original cost of the health plan.

 

Top-up health insurance is available on Bajaj Markets starting at ₹160/month with a basic coverage of ₹5 Lakhs.

 

5. Group Health Insurance Plans

Offering group health insurance is one of the perks that employers offer their employees these days. Just like any other Medical insurance policy, the group health insurance plans offer coverage for medical treatment costs and more.

 

Group health insurance plans can be purchased on Bajaj Markets starting at ₹853/month with a starting coverage of ₹5 Lakhs. 

1. Corona Rakshak Policy

This plan covers various needs related to COVID-19. In the event of a 72-hour hospitalisation due to COVID-19, you can claim the sum insured from the insurance company. You can also claim benefits that cover various protective items such as: 

• Personal Protective Equipment

• Ventilators

• Oxygen cylinders, etc. 

   

Each premium payment can help you subscribe to the Corona Rakshak policy for up to 9.5 months. You can claim its benefits and coverage if you are diagnosed with COVID-19 within that policy term.

 

2. Corona Kavach Policy

This benefit-based plan offers you wholesome coverage for hospital treatments, at-home COVID-19 care and AYUSH (Ayurveda, Yoga, Unani, Siddha and Homeopathy) treatments. Under this policy, you can also claim coverage for protective items and other equipment used for COVID-19 treatment. 

In order to get the best Medical Insurance policy, it is important to understand what this policy covers and excludes. Hence, you can find below the inclusions and exclusions of Health Insurance.

Inclusions:

Exclusions:

In order to get a Health Insurance in India, you need to meet a set of eligibility criteria. Additionally, you are required to provide your insurer with essential documents for verification and the completion of your application.

 

1. Eligibility Criteria

Here are the terms of the eligibility that you have to meet if you would like to get private Health Insurance in India.

 

2. Age of Applicant

As per the norms and regulations of Health Insurance plans in India, an adult is required to range between 18 years to 65 years of age while dependent children need to fall within the range of 90 days to 25 years. 

 

3. Examinations and Screenings

Those above 45, 55 or 60 years are required to undergo pre-medical examinations and screenings.  

 

4. Health Insurance Documents

You will be asked for any of the following documents in order to purchase or apply for a health policy. 

• Passport-size Photograph

It is important to note that the insurer could request for additional documents as and when required. 

You can understand the fundamentals of the differences between Health Insurance and Mediclaim in order to choose whether a Mediclaim or a Health Insurance is the perfect policy for you. You can get both Health Insurance and a mediclaim online. 

 

Given below is a table that can help you understand what Mediclaims and Health Insurance plans truly stand for. 

Many people harbour a number of misconceptions when it comes to Health Insurance. It is important to clear the fog and get a concrete idea about Health Insurance. Hence, here are a few myths about Health Insurance and why they hold no substance.

• I am young and healthy. I do not need Health Insurance

No better time to get Health Insurance than when you’re young. Your vulnerability towards critical illnesses and health issues is very low which means that the premium amount you will be charged will be very nominal. Moreover, the longer you don’t claim coverage from your Health Insurance, the larger your no-claim bonus discount can be, which could go up to 50%. Additionally, serving your waiting period as a young, healthy individual brings absolutely no panic or urgency. 

• Health Insurance covers only hospitalisation

Yes, Health Insurance does cover hospitalisation expenses. However, that is not where the benefits end. You can claim coverage for day-care, medication, surgery, OPD expenses, check-ups, consultations, and so much more. 

• I smoke. I am not allowed to buy Health Insurance

It is understandable for you to be concerned in this respect since smoking can bring pre-existing ailments which could scrap your application altogether. However, the most that could happen is the insurer applying a higher premium amount to your Health Insurance plan due to your vulnerability towards illnesses and health issues. 

• I don’t think buying Medical Insurance online is safe

Purchasing your Health Insurance plan online can be highly beneficial and convenient for you. Not only can you compare various plans, you can also deeply research all the options under the vast umbrella of Health Insurance. Additionally, if you apply for health insurance online, you can enjoy a seamless and convenient application process which can be carried out in the comfort of your home. 

 

In fact, you can buy your Health Insurance plan on Bajaj Markets!

How to Calculate Health Insurance Premiums Online

Calculating the insurance premiums you will have to pay for any plan is really easy with the help of a health insurance premium calculator. All you need to do is enter relevant information like your age, gender, location, coverage amount, etc. This calculator will provide you with an accurate estimate of the premium price for health insurance.

 

Claims for Health Insurance work in two ways: reimbursement claims and cashless claims. The process of claiming each benefit is given below. 

 

Reimbursement Claims

• Step 1: Submit original medical documents, bills, and a complete insurance claim form to the insurer

• Step 2: You may be asked for additional information after evaluation of the previous documents

• Step 3: Once all your documents have been submitted to the insurer, the claim decision will be made

• Step 4: Once approved, the claim amount will be reimbursed to you

   

Cashless Claims

• Step 1: Submit policy details and pre-authorisation form at the partner hospital or medical facility

• Step 2: The facility will be notified once the insurer verifies the form and send details of the policy

• Step 3: The insurer will receive the bill and subsequent medical documents from the hospital upon discharge. 

• Step 4: The bills are then directly settled by the insurer and the hospital.

You may be required to submit the following documents during your claim process. However, please note that additional documents could be asked from you by the insurer as and when required. 

• Complete claim form

• Medical certificate

• Hospital discharge summary or discharge card (original)

• Prescription and invoices from hospital or pharmacy

• Investigation report from a certified doctor

• First Information Report (FIR) or Medico Legal Certificate (MLC) in case of an accident

Health Insurance Plans Available at Bajaj Markets