Our current lifestyle and food habits can affect the quality of our health in the future. Diseases due to changing lifestyles such as cardiovascular diseases, diabetes, hypertension, are on the rise. Moreover, medical costs are no longer cheaper with a significant increase in the rate of healthcare inflation. The rise in the price of medications and surgical treatments are also estimated to increase. Medical emergencies can arise at any moment, and it is better to be financially prepared during such testing times.
For instance, imagine that you are in your 20s and lead a perfectly healthy life. In a few years, you find it challenging to maintain a work-life balance and increased responsibilities along with changing lifestyles start taking a toll on your health. Falling sick often and frequent hospital visits are now part of your routine, which is draining your savings. This is where a health insurance plan comes in handy, and that is when Finserv MARKETS come in the picture. So, safeguard your and your family’s health with bespoke health insurance plans that will fulfil your medical needs. You get access to some best-in-class health care at the network hospitals and extensive coverage with comprehensive health insurance plans available on Finserv MARKETS.
Managing medical expenses is #1 reason to buy health insurance. The healthcare costs across the country have risen by 15% over the last few years. With a sound health plan, you will be able to financially deal with unforeseen emergencies, treatments, and hefty medical bills.
While prevention is better than cure, one should always be prepared for emergencies. With hectic work schedules and unhealthy eating habits have led to an increase in diabetes and cardiovascular-related illnesses. An appropriate health insurance plan will cover you against such conditions and bear the medical treatment expenses.
For salaried individuals who are having health insurance plans can claim deductions of up to INR 75,000 in tax as deduction under Section 80D of the Income Tax Act, 1961.
Health emergencies can arise anytime and anywhere. With our family health insurance plans, you can safeguard yourself as well as your loved ones – all under a single policy.
The need for hospitalization can arise at any hour. Thus, choosing the right health insurance plan will help you protect yourself and family members from unexpected health emergencies.
Bajaj Allianz Health Guard is a comprehensive health insurance plan that takes care of your and your family’s health effectively. With a network of 6500+ hospitals, sum insured options ranging from Rs. 2 Lakhs to 1 Crore and a wide range of benefits that offer great value for money for its customers, the plan is an ideal health partner.
Moreover, with an incurred claim settlement ratio of 85%, Bajaj Allianz is a trusted insurer.
While you want the best for your and your family’s health, it is good to go through various health insurance plans available, to make a well-informed decision and pick the right plan as per your needs! Read on to understand the different types of health insurance plans on Finserv MARKETS.
Medical emergencies may strike and catch you off-guard anytime. This is why, it becomes critical for you to secure yourself with an Individual Health Insurance plan. This plan is designed to offer adequate medical coverage, to deal with such emergencies or unforeseen risks. With benefits like cashless treatments, pre and post hospitalization expense coverage, cover of day-care treatments and more, the individual health insurance plan is a great choice. Moreover, when it comes to buying health insurance, it is recommended that you buy the plan when you are young. This is because, the premium payable is comparatively less when one is young, and the benefits to be reaped by the policyholder over the long run are very attractive. Hence, millennials should definitely consider buying individual health insurance.
When it is about our loved ones, we always want to go for the best. Especially when it comes to securing their health. While you can definitely go for individual health insurance plans for each of the family members, family health insurance seems a better choice. With this plan, a defined sum insured coverage amount is spilt among the family members. 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 never know what’s destined for you! Ever wondered what could happened if you were to be hospitalized and your basic health insurance plan falls short of covering its expenses? With ever-rising medical costs you need to be better prepared for such a scenario. Why wait for the exhaustion of your health coverage when you can avail a health insurance top-up plan designed to take care of medical expenses after your basic health insurance policy amount is exhausted.
Offering a group health insurance is a one of the perks that employers offer their employees these days. Just like any other health insurance policy, the group health insurance plan offers coverage for medical treatment costs and more.
Buying health insurance may be an overwhelming task if not done considering all the aspects that help decide the right insurance plan for you. When choosing the most suitable health insurance, it becomes critical to go through the features and benefits of the plans, the coverage they offer and the premium amount, to make a well-informed decision. Having said that, it is also very important to focus, not just on the cost-effectiveness of the plan, but the coverage it offers. After all, you don’t want to end up with barely any claim amount during a medical emergency! And, when it’s about getting a health insurance to ensure that you can prevent your savings from being exhausted on health treatments, you don’t want to take any chances.
It is important to map your requirements with the product details, features and benefits to understand which plans fits best as per your requirements. Hence, make a note of the features of a plan
The insurer’s claim settlement ratio helps get an idea about the probability of your claims being settled. This way you can make the most ideal choice
Apart from product features and other details, the insurance company’s claim process is also a very important features to focus on, when it comes to comparing plans. With a completely digital approach, most insurers offer a simple and hassle-free claim process
Affordable premiums are often a point of attraction, when it comes to buying insurance. However, you must not compromise on the coverage to go for cost-effective insurance plans. Pick a plan that fits both, your needs and your budget
Lastly, customer reviews about the product help understand the viability of the plan and the also get a fair idea of the customer services they offer.
Your health insurance premium increase with age. This is because, insurers believe that with the increasing age, you are more vulnerable towards health concerns thereby increasing the probability of you filing a claim
Typically, insurance companies calculate your health insurance premium on the basis of your location too. Factors like severe weather conditions, deprivation of healthy food alternatives, distaste to exercise, etc. can have an impact on premiums charged
With a greater probability of filing a claim, insurers take the pre-existing disease factor into consideration while determining your premium. Anyone with a pre-existing disease is likely to pay a higher premium too
Your medical insurance premium also depends on the plan you select. Premium amount differs with regards to differ plans, Individual, Family, or Top-up health insurance
If you have opted for an additional cover to enhance your medical coverage, you are supposed to pay an additional premium amount, thus increasing the overall premium against the plan
Now that you know the ins and outs of your health insurance premium, take a look at how you can calculate the premium amount online! In case you are planning to buy a comprehensive health insurance policy on Finserv MARKETS, you can simply visit our health insurance premium calculator and go about getting your quote. Here’s how-
It’s that simple!
With a customer base of 100+ million across the country, Finserv MARKETS is dedicated to serve you better. Go on and choose us as your financial partner, today!
With cashless claims across a wide network of hospitals and a claim settlement ratio to vouch for, health insurance partners at Finserv MARKETS provide you with a quick & convenient claim settlement experience.
With a choice of beneficial add-on covers, health insurance plans on Finserv MARKETS offers customization like no other!
With a huge network of hospitals across India and plans that offer medical coverage from 1.5 lakh to 2 Crore, why look elsewhere?
Along with an extensive medical coverage, you can save more by availing health insurance tax benefits on the premiums paid, under Section 80D with medical plans on Finserv MARKETS
Finserv MARKETS believes in giving you a seamless and quick buying experience, when it comes to getting your and your family insured. All it takes is just a few clicks online!
You can enjoy the benefits of a health insurance policy coverage unless the plan is active, which is typically for a period of 1-2 years, as per the plans chosen. But, have you wondered what could happen if your policy is lapsed? The consequences could be hard to manage. In order to ensure that you can continue to reap the benefits of your health insurance plan, it is needless to say, that the plan must be up and running, and you need to ensure that it is renewed in time.
It is important to be aware of the consequences of not renewing your health insurance on time! Here are the key reasons why timely policy renewal is critical to ensure that you can continue availing of the benefits of your health insurance plan.
If your health insurance plan offers a No Claim Bonus (NCB) offer, which is provided on policy renewal for those having a claim-free year, it is important to note that no claim bonus in health insurance is applicable only if you renew your policy on time.
Imagine facing a medical emergency after your insurance policy has lapsed. With no claim benefit offered on an in-active policy, you would have to bear the entire treatment cost on you own expense.
As policy premiums increase with age, timely renewal ensures that you don’t miss out on time and get your coverage before it gets too late to enjoy the early buyer benefit.
Finserv MARKETS has made the health insurance renewal process very easy for you! Now you need not go through any tedious paperwork for getting your policy renewed. Just follow the 5 easy steps and your renewed policy will reach you!
Fill in your basic details like existing policy number and date of birth
Pick your quote & review the policy terms and conditions
The renewed health insurance plan will be sent to you in no time
Understanding the claim settlement process is also one of the key aspects of getting your health insurance plan. This is as critical as knowing your plan’s coverage details so that you can make the most of the medical coverage.
You can save taxes on your Health Insurance available on Finserv MARKETS.
Health Insurance Premium Paid for
Self, Spouse and dependent children
|No one is above age 60 years||Up to Rs. 25,000||Up to Rs. 25,000|
|If you are a senior citizen||Up to Rs. 50,000||Up to Rs. 50,000|
|Note: The deduction for parents is over and above the maximum deduction allowed for and individual and her/her family
You can claim an annual deduction on expenses incurred for health check-ups of Rs. 5,000.
This includes the check-up expenses of all members of a family – self, spouse, children and parents.
In an attempt to offer exclusive health insurance benefits to the citizens, the government offers various health schemes that cater to underprivileged sections of the society. This way, the economically deprived citizens can avail health insurance coverage too.
Here are some of the government health schemes:
Ayushman Bharat Scheme
With an aim to offer medical coverage to at least 50 Lakh individuals, the scheme focuses on developing health centres for these people, while also offering a health cover worth Rs. 5 Lakhs to each family.
Pradham Mantri Suraksha Bima Yojana (PMSBY)
This scheme offers cover for personal accidents leading to death of accidental disability. Available for a period of 1 year, the plan can be availed of by any one falling in the age bracket of 18 to 70 years, having a AADHAAR card and savings account.
Aam Aadmi Bima Yojana (AABY)
With this plan, against a premium of Rs. 200 for a family, they get a cover of Rs. 30,000 in case of a natural death, Rs. 37,500 in case of partial permanent disability and death or total disability cover of Rs. 75,000.
Universal Health Insurance Scheme (UHIS)
With this scheme, the government aims to improve the health standards of citizens. The plan offers up to Rs. 30,000 of reimbursement for medical costs along with an accidental death benefit of Rs. 25,000. Moreover, the plan also provides a loss of income of Rs. 50 per day for up to 15 days in a month.
Employee State Insurance Scheme (ESIS)
Designed for workers who work in non-seasonal factories with an employee strength of at least 10, the ESIS offers illness benefit, disability benefit, 90% last wages in case of temporary disability, and more.
Rashtriya Swasthya Bima Yojana (RSBY)
Particularly designed for the poor, the scheme provides cashless treatments at the network hospitals along with an in-patient medical care of Rs. 30,000 per year. Moreover, with no waiting period for pre-existing diseases, this plan has gained significance.
The Pradhan Mantri Jan Arogya Yojana (PMJAY) is a government-managed national healthcare program which is also famously known as Ayushman Bharat Yojana. Through the PMJAY scheme, our government wants to make the primary healthcare facilities available to all citizens in all parts of the country. Under this scheme, over 10 crore families that are below the poverty line are covered with health insurance of INR 5 Lakh.
A list of schemes under the PMJAY program are as follows –
The month of October has brought some significant changes in the Insurance industry. IRDAI has recently directed three key changes in the health insurance plans structure in order to make the plans more customer-friendly and provide more benefits to the policyholder. So, what exactly is there in store for you? The very first benefit that new change holds for policyholders is the simplification of clauses for it to be understood by masses. This would help compare plans easily through the clauses. Next positive change brought about IRDAI is making plans more inclusive when it comes to coverage which is expected to increase the popularity of health insurance plans in times of a pandemic. Third very important change is that the proportionate deductions on room rent limits have been made more reasonable. These changes are expected to bring in a sigh of relief for the policyholders.
While health insurance is already a relief for the policyholders across the world amidst the pandemic, the new changes announced by the IRDAI are set to make scenarios even more relieving for policyholders with their recent proposal to exclude the costs of diagnostics, medicines and implants from the list of associated medical costs. As these associated medical expenses are considered when insurers compute proportion deductions from hospital bill, this could potentially mean that the health insurance claim amount settled by the insurer could be higher than the usual amount that is settled.
IRDAI, the insurance regulator in its recent set of guidelines tends to come down on the side of policyholders. The recent set of guidelines announced by IRDAI state that health insurance companies will not be permissible to content or question health insurance claims raised by policyholders once they have been paying the premium amount for a period of 8 years except for those that are proven to be fraudulent and claims around permanent exclusions as mentioned in the policy document. The regulator further stated that the objective behind this approach is to standardize the terms and clauses combined in indemnity-based health insurance plans which exclude domestic/overseas travel and personal accident. This way, IRDAI further simplifies the general terms and clauses and policy wordings to achieve consistency across the insurance industry.
While the pandemic is taking a toll on the world, no one is saved from its financial burnt. Where some people are losing their jobs, some are facing major financial adversities due to the stagnant scenarios driven by the pandemic. And, if someone is majorly affected, it’s the insurance industry! While the COVID coverage offered by health insurance plans came a big relief for people around the world, health insurers have faced a major financial brunt. With health insurance claim amounts exceeding to ₹562 crore through a period of less than a month, health insurance companies have indeed felt the heat of the pandemic.
While the pandemic has almost brought the world to a standstill, it has turned the tables for the insurance business. As health insurance covers COVID claims, the pandemic has given a boost to the health insurance business across the world. While the health insurance segment has introduced 500 products in the last 2 decades, the COVID crisis marked the launch of 130 new product in just four months. With this development, this insurance segment has overhauled the motor insurance segment, becoming the largest business in the category of non-life insurance. IRDAI further estimates that the dominance of the health insurance segment over motor will only increase by leaps and bounds by 2020-end.
Are you looking for a plan that gives you added financial protection against the pandemic? If you wish to enhance your existing health insurance policy, you have 2 great options – a health insurance top up or Corona Kavach policy. Wondering which one you should choose? Both, the top-up and the Corona Kavach serve different purposes and one must choose the plans wisely, keeping his/her needs and requirements in consideration. While a health insurance top-up plan comes into play when your existing health insurance coverage is exhausted, Corona Kavach policy will only pay for COVID-19 treatment and that too for less than a year. Hence, one must not replace a comprehensive health insurance plan with Corona Kavach but get one in case he/she does not have any medical coverage.
The hunt for the coronavirus vaccine continues and with many vaccine candidates undergoing trials, this could soon be a reality. But, the question is, will the COVID-19 vaccine be covered under your existing health plan? Typically, health insurance plans cover hospitalization costs and treatment costs, which means, if you were to be hospitalized for COVID-19, your treatment and hospitalization costs would be covered. However, if one needs to get a dose of COVID-19 vaccine, there is no need for hospitalization and in this case, if your plan offers out-patient treatment coverage, it may be covered. Having said that, currently COVID-19 vaccine is not covered under indemnity health plans but could be covered in the plans in the foreseeable future, it being a vital need.
The spurring COVID cases across the world and in our country and the growing awareness of the pandemic have resulted in positive developments for the life and health insurance business. With the nation battling COVID, people turned to life and health insurance plans to seek financial support for fighting the implications of the disease. With COVID claims covered, individuals felt a sense of relief with these plans. A survey carried out by the Insurance Institute of India (III) revealed the surge in demand for life and health insurance due to the increasing awareness for risk and protection. In light of this, the industry must look forward to ramp up digital platforms and surge online selling of insurance plans to leverage the scenario.
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Your family is an integral part of your life, and at the end of the day, you will do anything in your power to make sure that they are living a comfortable life. However, any health emergencies can arise at any time. To overcome this situation, you have to spend a fortune from your savings.
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Yes of course, not just you, but your family too needs a health insurance policy. It is a well-known fact that medical expenses are increasing significantly, and it is hence sensible to invest in a health insurance plan, irrespective of your age. The pace at which treatment costs are rising, one hospitalization event can take a huge toll on your savings. Also, there is a noteworthy increase in the number of life-threatening diseases, which makes it essential for every individual and his family (be it spouse, kids or senior citizen parents) to have the best health insurance plan available out there.
Your health insurance premiums mainly depend upon the following factors:
· The type of cover chosen
· Amount insured selected
· Amount limit (if selected)
· Add-ons you choose (optional covers).
Your health insurance plan will cover the pre and post hospitalization expenses. These expenses include:
· In-hospital expenses, hospital room rent and boarding expenses
· Cashless treatment in network hospitals across India
· Charges for medical examinations
o Physician fees and doctor’s consultation fees
o Charges for the ambulance
Pre-existing disease is any ailment or health condition for which you have been diagnosed or received medical advice/treatment, before buying your first Health insurance plan with the insurer. These could be anything ranging from blood pressure to diabetes to cancer to any other disease/ailment.
Waiting period refers to the duration only after which you can make a claim from your health insurance plan.
A health card is a kind of identity card that comes along with your health insurance plan. This card will enable you to avail cashless hospitalization facility at any of the network hospitals.
It is best to renew your health insurance plan before it’s expiry date. In health insurance plans, insurers usually offer a grace period of 30 days (after the expiry date of the plan), within which you can renew the plan without having to apply afresh. During this grace period, you will not be covered for any ailments or accidents, but the same plan can be continued. However, it is suggested that you pay your renewal premium while your plan is still in force so that you can enjoy the uninterrupted coverage.
Our partners have tie-ups with over 6500 network hospitals across India and the details of those hospitals are available in the download section.
Pre-existing diseases are diseases/conditions which a person has before buying a medical insurance plan. Therefore, any pre-existing disease/condition is supposed to be declared by a consumer at the time of buying health insurance in India. It is one of the key factors in deciding any health insurance premium. Another key factor to keep in mind is that the pre-existing diseases have a waiting period which may differ from company to company. To get more details on this, please refer to the product brochure in our download section.
I applied for a health insurance policy at Finserv MARKETS. I appreciate the quick response of the customer support team. They responded immediately to my recent follow up for my insurance policy.
Posted on 2 Jan 19
My 2 year daughter was admitted in the hospital this was my first experience with Bajaj health insurance. The response was very quick and the Bajaj Allianz team responded to the initial claim request within hours.
Posted on 21 Feb 19
I got a health insurance policy from Finserv MARKETS. I had a really good experience they have customer friendly policies and the service support team is very good. Their health insurance renewal and claim process is very smooth.
Posted on 18 Aug 19
I experienced the benefits of the health insurance policy when I got hospitalized last year. Since the post-hospitalization costs were covered, it really helped me save up on my monthly budget.
Posted on 20 Feb 20
The process of renewing my Bajaj Allianz health insurance policy at Finserv MARKETS was very quick. Thanks for the quick service.
Posted on 29 Mar 20
I experienced the benefits of the health insurance policy when I got hospitalized last year. Since the post-hospitalization costs were covered, it really helped me save up on my monthly budget.
Posted on 16 Feb 20
The process of renewing my health insurance policy at Finserv MARKETS was very quick. Thanks for the quick service.
Posted on 29 Mar 20
With constantly rising medical costs, the thought of savings being exhausted kept worrying me. That’s when a friend suggested getting a health insurance policy. I came across the best online health insurance policy on Finserv MARKETS, which was not only affordable but also offered complete medical coverage.
Posted on 07 Apr 20
It was a really tough time for the family when my husband was admitted. Gathering funds could have been difficult, but with the Bajaj Health Insurance, taking care of the expenses was an easy task. The claim settlement with this online health insurance policy was quick and hassle-free making the process even easier.
Posted on 12 Apr 20