Health Insurance Your Health Matters, Insure It.
Life is very unpredictable, everything is uncertain especially after FY 2020 and COVID-19 . Even the healthiest individuals can get sick unexpectedly and require medical attention. Looking at the countries inflation rate, medical treatment has become very expensive. Not being financially prepared is not the option, So it’s always better to be prepared for these days. Welcome to Bimasure, where your well-being takes center stage. We understand that life’s uncertainties require a steadfast companion, and that’s why we bring you a range of robust health insurance solutions. Our commitment goes beyond policies; it’s about empowering you to lead a life of confidence and security.
- Insurance cover ranging from Rs 5 lac to 1 Crore
- Instant policy issuance-No medical tests*
- No Room Rent Capping
- Pre-existing Disease covered
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Coronavirus (Covid-19) Covered in
all Plans - Tax Savings under sec 80D
Invest in a Healthier Future: Sign Up for Our Health Lead Form!
What is a Health Insurance Plan?
A health insurance policy is a contract between a policyholder and an insurance company, in which the insurer provides financial assistance for medical expenses arising due to illness or accident in exchange for a premium. The policyholder can either opt for reimbursement for medical expenses such as hospital and surgical bills or utilize the cashless claim feature. With the cashless claim feature, the policyholder can receive treatment at a network /tie up hospital without worrying about payments as the insurance company and the hospital have an association to settle the bills of the policy holder To find the best health insurance plan, you can compare multiple policies online. Purchasing health insurance online allows you to select the one that meets your specific requirements.
Need and Importance of Health Insurance
In India, inflation is soaring and making medical treatment more costly. This means that you need a health insurance plan to cope with this situation and get quality medical care in emergencies. A health insurance policy is the best way to secure your health and your finances. Below are some reasons to have a health insurance policy.
Below is the importance of Health Insurance:
Better Health
Health insurance can help you prevent and treat lifestyle diseases like kidney failure, liver damage, heart disease, cancer, etc. These diseases are more common in people over 40 due to a lack of physical activity. A health insurance plan can help you detect these diseases early and cover the cost of their treatment. As the famous saying goes, "prevention is better than cure".
Family Security
A health insurance plan not only covers you but also your entire family in one policy (Family Health Insurance). Most health insurance companies in India offer a family health insurance plan that lets you cover yourself, your spouse, dependent children, your parents, and your parents-in-law. This saves you from buying multiple policies for each individual. You can enjoy peace of mind knowing that your loved ones are protected.
Tax Savings
A health insurance plan can also help you save tax on the premium you pay under Section 80D of the Income Tax Act, 1961. You can claim a deduction of up to Rs. 25,000 for yourself and your family, and an additional Rs. 50,000 for your parents. This can reduce your taxable income and your tax liability.
Counter Medical Inflation
Medical treatment is very expensive nowadays because of the high inflation in the country. A comprehensive health insurance plan can help you afford this care by paying for your medical emergencies. Health insurance covers all your hospitalization costs such as pre and post-hospitalization charges, room rent, doctor's fees, etc. You don't have to worry about the bills and focus on your recovery.
Savings Protection
A health insurance plan can help you protect your hard-earned savings from huge medical bills in case of hospitalization. One hospitalization can wipe out all your savings. But if you have a health insurance plan to pay for your medical bills in case of hospitalization, then you can keep your savings intact. You can use your savings for other important goals like education, retirement, or travel.
Ensure Peace of Mind
It allows you to obtain medical treatment with peace of mind as you do not have to worry about paying the hefty hospital bills.
Product Highlights
Individual health insurance plans bring a host of benefits to policyholders during medical emergencies. Here's a glimpse of the advantages these plans offer:
Cover ranging from Rs. 3 lac to 1 crore
Covers Pre-Existing Diseases for 1-4 Year/s - choices available
No Room rent capping and - Single Private Room for Patients – choices available
Multiple Insurance & Best Health Insurance Plans to Compare
Types of Health Insurance Plan
Below are different types of health plans available in India to meet your unique healthcare needs.
Individual Health Insurance
Secure personalized protection with Individual Health Insurance. This plan ensures comprehensive coverage for medical expenses arising from accidents, surgeries, or critical illnesses. Ideal for those seeking dedicated coverage tailored to individual health needs.
Family Floater Health Insurance
Experience the convenience of Family Floater Health Insurance, offering holistic coverage for your entire family under a single plan. Safeguard the health of your spouse, dependent children, parents, and parents-in-law with a shared sum insured amount.
Senior Citizen Health Insurance
Prioritize the well-being of your elders with Senior Citizen Health Insurance. Tailored for individuals above 60, this plan addresses the specific healthcare needs of seniors, covering medical expenses such as consultations, medicines, and hospitalizations.
Super Top-up Health Insurance Plan
Enhance your protection with super top-up Health Insurance. Acting as an additional layer of security, this plan replenishes the sum insured amount beyond a predefined limit. Ideal for bolstering coverage without the need for an entirely new policy.
Critical Illness Health Insurance
Prepare for life's uncertainties with Critical Illness Health Insurance. Receive a lump sum amount upon diagnosis of critical illnesses like cardiovascular diseases, cancer, or renal failure. This plan ensures financial support during challenging health crises.
Group Health Insurance
Nurture a healthy workforce with Group Health Insurance. Designed for companies, this plan provides medical coverage to employees, promoting well-being and productivity. Enjoy the benefits of lower premiums and the flexibility to include family members.
Personal Accident Insurance
Secure your financial well-being with Personal Accident Insurance – a crucial shield against unforeseen events. Gain peace of mind knowing that you and your loved ones are financially protected in the face of accidents, ensuring a safety net for medical expenses and more. Choose confidence, choose Personal Accident Insurance.
Key Benefits of Health Insurance
If medical bills pile up and regular health check-ups are costly, having access to the best treatments may seem impossible. Fortunately, a health insurance policy can help cover your medical expenses so that you can lead a long and healthy life. If you're considering buying health insurance online, here are some key benefits to keep in mind:
Provides Financial Security
Health insurance covers medical expenses, ensuring financial protection.
Domiciliary Hospitalization
Allows treatment at home or a specified location, reducing stress.
Sum Insured Restoration
Restores sum insured after a claim, maintaining coverage.
Daycare Treatment
Covers expenses for minor medical procedures and treatments.
Ambulance Fee
Covers emergency ambulance services for medical emergencies.
Cashless Medical Treatment
Simplifies billing by paying hospitals directly, reducing out-of-pocket costs.
Hospitalization Expenses
Covers costs associated with hospitalization.
Tax Benefit under sec 80D
Premiums are tax-deductible under Section 80D in India.
Medical Checkup Facility
Includes coverage for regular medical check-ups for early disease detection.
Coverage of Pre and Post Hospitalization
Covers expenses before, during, and after hospitalization.
Pre Existing Disease Coverered
Offers coverage for pre-existing health conditions.
Benefits of Buying Health Insurance Plans Online
Buying health insurance plans online offers several benefits, making the entire process more convenient and efficient for policyholders. Here are some key advantages:
24/7 Accessibility
Online platforms are available round the clock, allowing users to explore and purchase health insurance at any time that suits them.
Location Independence
Access the online portal from the comfort of your home, office, or any location with an internet connection.
Quick Comparisons
Online platforms facilitate easy and quick comparisons between different health insurance plans, helping you make an informed decision swiftly.
Instant Quotes
Obtain instant premium quotes and coverage details without the need for lengthy paperwork or waiting periods.
Secure Transactions
Reputable insurance providers ensure secure online transactions through encrypted payment gateways, safeguarding your personal and financial information.
Transparent Information
Online platforms provide clear and transparent information about the features, coverage, exclusions, and terms of health insurance plans.
Policy Documents
Easily access and download policy documents, terms and conditions, and other relevant information digitally.
Online Support
Many online platforms offer live chat or customer support services to assist with queries and guide users through the purchasing process.
Educational Resources
Access informative content, FAQs, and resources to better understand health insurance and make informed decisions.
Instant Policy Issuance
Receive digital policy documents instantly upon successful online purchase, ensuring immediate coverage and peace of mind.
Direct Pricing
Online platforms often offer direct pricing, eliminating intermediary costs and providing cost-effective health insurance options.
Online Claim Submission
Some platforms allow policyholders to submit claims online, simplifying the claims process and expediting reimbursement.
Factors to Consider Before Buying Health Insurance Plan
Before purchasing a health insurance plan, it's crucial to consider several factors to ensure that the chosen policy aligns with your needs and provides comprehensive coverage. Here are key factors to evaluate:
Sum Insured
Choose a sum insured (coverage amount) that adequately meets your healthcare needs. Consider factors such as medical inflation, the cost of treatments, and your family's health history.
Coverage Benefits
Evaluate the coverage benefits offered by the health insurance plan. Look for features like in-patient hospitalisation, pre and post-hospitalization expenses, daycare treatments, domiciliary hospitalization, and coverage for critical illnesses
Network Hospitals
Check the list of network hospitals associated with the insurance provider. A broader network ensures easy access to quality healthcare services without worrying about upfront payments (cashless facility).
Claim Settlement Ratio
Research the claim settlement ratio of the insurance company. A higher claim settlement ratio indicates the insurer's efficiency in settling claims, providing confidence in the reliability of the health insurance policy.
Waiting Periods
Understand the waiting periods associated with pre-existing diseases, specific treatments, and maternity coverage. Different policies may have varying waiting periods, and this information is crucial to plan your coverage effectively.
Exclusions
Review the list of exclusions to understand what is not covered under the policy. Common exclusions may include pre-existing conditions for a specific waiting period, cosmetic surgeries, and certain treatments.
Co-payment Clause
Check if the policy has a co-payment clause. Co-payment requires the policyholder to bear a percentage of the medical expenses, and this can impact the out-of-pocket expenses during a claim.
Customer Reviews
Explore customer reviews before purchasing a health insurance policy. Delve into feedback on both the health plan and the insurance company to gain insights into the policy's advantages and disadvantages.
Factors that Influence the Cost of Health Insurance
Below mentioned are the factors that can affect your health insurance premium amount:
Age
Gender
Medical History
Geographical location
Sum Insured Amount
Policy Term
Additional Riders
Lifestyle of the Applicant
Body Mass Index (BMI)
Inclusions and Exclusion in Health Insurance plan
In India, health insurance policies typically come with customizable options to suit individual needs, but there are some common inclusions and exclusions to consider.
Health Insurance Riders
Below are different types of health plans available in India to meet your unique healthcare needs.
Maternity Rider
To access maternity benefits, a waiting period typically applies. Following this period, coverage for childbirth-related expenses, pre and postnatal care, and coverage for a newborn may be included. Opting for this rider may result in a premium increase of 15 to 20% of the base policy.
Room Rent Waiver
Basic health insurance plans often cap room rent up to a certain amount. If you prefer a room with a higher cost, you'd typically have to pay the difference. The Room Rent Waiver add-on allows for a higher sub-limit or no sub-limit at all. This ensures that your insurance company covers the room rent, regardless of the chosen room type.
Daily Cash
With this add-on, you receive a daily cash benefit during hospitalization for at least 24 hours. The amount usually ranges from 500 to 3000 rupees, with higher benefits for patients in the ICU. This cash can be utilized for purchasing medicines or managing other medical expenses during your hospital stay.
Critical Illness Coverage
Similar to a life insurance cover, this rider provides a lump sum amount if the policyholder is diagnosed with a critical illness. Covered illnesses may include cancer, massive heart stroke, brain tumor, or multiple sclerosis. Individuals with a family history of such illnesses should consider a Critical Illness Rider. The coverage may extend to 15 to 40 diseases, depending on the insurer and the policy's cost.
Personal Accident Rider
The personal accident rider can help you get compensation from your insurer in case an accidental injury leads to your disability or death. It will pay you the entire sum insured in case of permanent total disability but only a part of the sum insured depending on the nature of the injury in case of partial disability. It is also known as the double indemnity rider as your family will get an additional death benefit in case of accidental death.
Our Partners
India's insurance sector has seen a remarkable growth due to the increased awareness about insurance policies and providers. The recent pandemic has highlighted the need for insurance coverage, and high claim ratios offered by insurance companies have incentivized individuals to opt for insurance as a means of supporting their well-being and livelihoods. Presently, there are numerous insurance companies operating in India. Let’s have a look at few of them listed below.
FAQ's
Navigating insurance complexities can be overwhelming. We have tried to address common doubts for a seamless journey with Bimasure.
Consider your healthcare needs, budget, network of doctors and hospitals, coverage options, and any specific requirements such as prescription drugs or maternity coverage.
Evaluate your medical history, anticipate potential future medical needs, and consider factors such as age, family size, and lifestyle to determine the appropriate coverage.
In certain situations, you may be eligible for a Special Enrollment Period (SEP) due to life events like marriage, birth of a child, or loss of other health coverage.
A deductible is the amount you pay out of pocket before your insurance kicks in. Generally, higher deductibles result in lower premiums, but it’s crucial to find a balance that suits your financial situation.
Check if your preferred doctors, hospitals, and specialists are in the insurance plan’s network to ensure you have access to the healthcare providers you trust.
Most health insurance plans cover pre-existing conditions, but the specifics may vary. Make sure to review the policy details and any waiting periods that may apply.
A copayment is a fixed amount you pay for covered services, while coinsurance is a percentage of the costs. Understanding these terms helps you estimate your out-of-pocket expenses.
Yes, most health insurance plans allow you to include your spouse, children, or other dependents. Ensure you know the eligibility criteria and enrollment process for dependents.
Maternity coverage varies among plans. If you’re planning to start or expand your family, choose a plan that includes comprehensive maternity benefits.
The grace period is the additional time granted to pay your premium after the due date without losing coverage. Familiarize yourself with this period and any potential consequences for late payments.
Why Choose Us
At Bimasure, we go beyond being just an insurance buy and compare platform. Here's why thousands choose us for their individual health coverage needs.
Expert Guidance
Our team of insurance experts is here to guide you at every step, ensuring you understand your options and make the best choices for your individual health.
Simple and Secure Process
Experience a hassle-free journey from quote to coverage. Our secure platform makes acquiring affordable individual health insurance straightforward and stress-free.
Customer-Centric Approach
Your satisfaction is our priority. We are committed to providing exceptional customer service and support throughout your journey to purchase individual health insurance.
