5 attributes of the best health insurance plan

Buying health insurance is one of the most sensible and responsible things one can do for the sake of their own and their loved ones’ future health. However, the sheer number of health plans available in India, with each touting itself as the best one, can leave a first-time buyer quite confused. On the other hand, you may already have a health plan in hand but may be on the lookout for another one, especially one that includes the entire family.

One such important plan that has rapidly gained popularity in India is the Arogya Sanjeevani health policy. It is a standardised plan and is one of the best ones especially for first time buyers.

Consider the 5 important attributes of the Arogya Sanjeevani health policy that you must know about:

#1 Affordable premiums: While offering comprehensive coverage on an individual and family basis, this health insurance plan has one of the most affordable premiums across most health plans in India today. Thus, you can easily buy it for your family members and get high coverage at an affordable price.

#2 Good coverage amount: Most people who had purchased the Arogya Sanjeevani policy when it was first launched had just one grouse against it: the maximum coverage amount of Rs 5 lakh was deemed too little. And it was, considering the rising costs of living and increasing inflation year upon year. However, you can now take heart and buy this policy with more confidence, since its maximum coverage amount has been increased to Rs 10 lakh. You can use this policy as a back-up to another health plan if you already have it, or back up the coverage on the Arogya Sanjeevani policy with a super top up plan if required.

#3 A wide range of eventualities are covered: This is a well-designed standard plan that offers a wide range of benefits to the policy holder. You get hospitalisation cover for 30 days before the date of admission to hospital, and up to 60 days from the date of discharge. Meanwhile, it includes all day care treatments and procedures but not OPD treatments. The day care treatments include surgical or medical procedures performed under anaesthesia (local or general) in a hospital or clinic OT and which last less than 24 hours due to technology and which in the absence of that technology, would have resulted in hospitalisation for over 24 hours.

#4 Sub-limit benefits: This plan includes sub-limits such as 2% of the total sum assured or maximum of Rs 5,000 per day. If admitted to the ICU, the sub-limit is 5% of the sum assured or maximum Rs 10,000 per day. Further, the sub-limits on treatment costs for less invasive procedures like cataract surgery are up to 25% of the sum assured or maximum of Rs 40,000, while limits for more complicated or lengthy surgeries is 50% of the sum assured. There is a co-payment limit of 5% on the claim amount admissible under the policy.

#5 Increasing NCB: The No Claims Bonus is a vital component of any health insurance plan. But in this policy, it is even more significant. The NCB in this plan is about 50% of the sum insured of the policy. Meanwhile, the sum assured but not the cumulative bonus, are increased by 5% for every No-Claim year, as long as the plan is renewed on or before due date every year without a break in premium payment in between.

What is your opinion of the Arogya Sanjeevani policy? Are you looking to buy it? Tell us why in the comments below.