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Health Insurance Plans

Health insurance plans are essential to protect yourself and your family from unforeseen medical expenses. ...Read More

Explore the range Health Plans by HDFC Life to cover your medical expenses
With Health plans from HDFC Life you can opt for medical insurance at affordable rates

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Health Insurance Plans
Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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What is Health Insurance?

image-star image-star image-star image-star image-star image-star image-cloud image-cloud image-cloud moon Understanding Health Insurance

Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured person. It provides financial protection against expensive medical procedures, hospitalisation costs, and other healthcare expenses. An insurance policy is a contract between an insurance company and a policyholder where the former agrees to pay the healthcare expenses of the latter for a certain premium paid by the policyholder.

Health insurance plans typically offer coverage for a wide range of treatments, including hospitalisation, doctor's consultations, diagnostic tests, medications, and surgeries. By paying regular premiums, policyholders can enjoy the benefits of insurance coverage and receive necessary medical care without worrying about the financial burden.

An insurance company offers compensation to policyholders through these two channels:

-As part of the cashless treatment, the policyholder does not have to pay anything to the network hospital, since the insurance company pays the hospital directly.

-The second option is reimbursement. In this case, the policyholder has to pay for the medical expenses at the time of treatment, which are then reimbursed by the insurance company at a later date.

Health Insurance in a Snapshot

Features

Health Insurance

Scope of coverage

The policy takes care of both preventive and medical treatment that includes screening tests, annual medical checkups, vaccinations, as well as hospitalisation expenses.

Claims

Every insurance provider has a cap on the number of claims filed every year.

Premium

Health insurance covers an extensive range of services, probably why it requires payment of a higher premium.

Sum insured

This is dependent on the plan chosen by an individual.

Add-on covers

An individual can choose these based on their requirement.

What Are the Types of Health Insurance Plans?

There are various types of health insurance plans available in the market. HDFC Life offers the following health insurance plans to cater to different healthcare needs:

1

Individual Health Insurance

This plan covers the medical expenses of an individual policyholder. It offers individual coverage for hospitalisation, pre and post-hospitalisation expenses, daycare procedures, and other medical expenses.

2

Family Health Insurance

Family health insurance plans provide coverage to the entire family under a single policy and a sum insured. It covers the medical expenses of the insured individual, their spouse, children, and dependent parents.

3

Senior Citizen Health Insurance

This plan is specifically designed for individuals above a certain age. It provides coverage for age-related illnesses and other medical expenses that senior citizens may incur.

4

Critical Illness Insurance

Critical illness insurance plans provide coverage for life-threatening illnesses such as cancer, major organ failure, heart disease, blindness stroke, etc. These plans offer a lump sum amount upon diagnosis, which the policyholder can use for medical treatment, recovery, and other necessities.

What are the health plans offered by HDFC Life?

We take care of your health expenses; you only focus on getting well.

What Are the Benefits of Health Insurance Plans?

Having a health insurance plan offers numerous benefits, including:

1

Financial Protection

Health insurance plans provide financial assistance during medical emergencies. They cover hospitalisation costs, doctor's fees, medicines, diagnostic tests, and other medical expenses, ensuring that you do not have to worry about your treatment costs.

2

Cashless Hospitalisation

With cashless hospitalisation, policyholders can avail medical treatment without making upfront payments. The insurance company settles the bills directly with the hospital, making it convenient for the insured individual.

3

Pre and Post-Hospitalisation Coverage

Health insurance plans also cover pre and post-hospitalisation expenses such as doctor's consultations, diagnostic tests, medications, and follow-up treatments.

4

Tax Benefits

Premiums paid towards health insurance plans are eligible for tax deductions under Section 80D of the Income Tax Act.

5

Additional Coverage

Some health insurance plans offer additional coverage for maternity expenses, critical illnesses, accidental injuries, and other specific healthcare needs.

 Tax Benefits with Health Insurance 

 

While financial protection is one of the biggest benefits offered by a health insurance policy, it doesn’t end there. Tax planning is another advantage that encourages individuals to sign up for health insurance. That’s because the premium paid towards a health insurance policy is eligible for exemption under Section 80D of the Income Tax Act. However, the upper limit for the deductible amount is Rs 25,000 which can go up to Rs 50,000 for senior citizens.

In that case, the policyholder can enjoy a deduction of up to Rs 75,000 from the taxable income.

In rare cases, when the age of the policyholder and his/her parents is over 60 years, the deductible amount can go up to Rs 1 lakh. This deduction can be claimed by providing premium payment receipts and the insurance policy copy that gives the name of the family members, the relationship as well as the age.

Also, this deduction can be availed if the premium is paid through any other channel but cash.

Optional Add-Ons in Health Insurance

Optional add-ons or riders are additional benefits that can be added to your health insurance plan for enhanced coverage. HDFC Life offers the following optional add-ons:

Hospital Cash Benefits

Hospital Cash Benefit

This add-on provides a fixed daily allowance for each day of hospitalisation, which can be used to cover miscellaneous expenses.

Covers Critical Illness

Critical Illness Cover

It offers a lump sum amount upon diagnosis of critical illnesses covered under the policy, providing financial support for the treatment and recovery.

Maternity Cover

Maternity Cover

This rider covers the medical expenses related to pregnancy and childbirth, including pre and postnatal care, delivery charges, and newborn baby coverage.

Personal Accident Cover

Personal Accident Cover

It provides coverage against accidental injuries, disability, and accidental death.

Adding these optional riders to your health insurance plan can enhance its coverage and ensure comprehensive financial protection during medical emergencies.

Why do you need Medical Insurance

There are several reasons why buying health insurance is non-negotiable in this day and age -

Health Insurance Plans Provides Financial Protection

Offers financial protection

 As we already know, medical emergencies can strike without notice. In times like these, it is important to have a fallback for financial protection, since illnesses like cancer, heart ailments, or lung diseases can impact your financial standing. Having a health insurance plan with adequate financial coverage that offers cashless treatment at a wide range of network hospitals is your best bet.

Health Insurance Plans Acts as a shield against rising inflation

Acts as a shield against rising inflation

Beating inflation is hardly possible but its impact can be minimised, particularly by making choices like buying health insurance. It helps individuals meet medical costs in times of emergencies, ranging from the cost of equipment, cost of treatment, medicines and diagnostic tests.

Health Insurance Plans Provides tax exemption

Provides tax exemption

Health insurance is also a great way to claim tax deduction up to Rs 25,000 under Section 80D of the Income Tax Act, on the premium paid towards a policy. Deductions can also be claimed for your spouse or children. 

Health Insurance Plans are Affordable

Offers affordable plans

Buying health insurance is a necessity today to minimise the impact of rising healthcare costs. It’s a good idea to invest in health insurance early on, because the premium amount will be far lower than when you are older. Also, younger policyholders do not have to go for health check-ups to get the insurance.

Health Insurance Plans Protects against changing lifestyle

Protects against changing lifestyle

The lifestyle we lead today is a breeding ground for health issues like diabetes, heart and kidney disorders. That’s why it is important to secure your health beforehand with a comprehensive health insurance plan.

How to Choose the Best Health Insurance Plan in India?

Choosing the best health insurance policy requires careful consideration of several factors. You can select the most suitable plan for your healthcare needs by taking care of the below-mentioned points:

1

Assess Your Healthcare Needs

Determine your healthcare requirements and identify the coverage you need. Consider factors such as age, pre-existing conditions, family medical records, and any specific medical needs.

2

Sum Insured

Evaluate the sum insured offered by different health insurance plans. Ensure that the sum insured is adequate to cover your medical expenses.

3

Network Hospitals

Check the list of network hospitals associated with the health insurance provider. Make sure that the network hospitals are reputable and easily accessible.

4

Coverage and Benefits

Compare the coverage and benefits offered by different health insurance plans. Look for comprehensive coverage, including hospitalisation expenses, pre and post-hospitalisation coverage, outpatient treatments, and coverage for critical illnesses.

5

Premiums and Deductibles

 Consider the premium amount and deductibles associated with the health insurance plans. Choose a plan that offers a balance between affordable premiums and comprehensive coverage.

6

Policy Terms and Conditions

Read and understand the terms and conditions of the health insurance plan, including waiting periods, exclusions, and claim settlement procedures.

How to Purchase Health Insurance in India?

Purchasing health insurance is a vital step towards securing your financial future and ensuring quality healthcare. Follow the steps listed below to buy one from HDFC Life:

1

Know Your Healthcare Needs

Evaluate your healthcare requirements and the coverage you need for yourself and your family.

2

Go to the Insurer’s Website

Visit HDFC Life’s health insurance page and check the options available. 

3

Choose the Right Plan

Select a health insurance plan that aligns with your healthcare needs, and budget and offers comprehensive coverage.

4

Understand Policy Terms

Thoroughly read and comprehend the policy terms, conditions, and exclusions before making a purchase.

5

Seek Expert advice

Consult with insurance advisors or agents to get assistance and clarification regarding any queries and doubts.

6

Apply Online or Offline

Fill out the required application form either online or offline, providing accurate information about yourself and your family members to be covered.

7

Make Payment

Pay the premium amount through your preferred mode of payment, whether online or offline.

8

Complete Verification

Submit the necessary documents for verification and await approval of your health insurance application.

9

Receive Policy

Once your application is accepted, you will receive the policy document which outlines your coverage details.

How to Buy an Online Health Insurance Plan?

Online platforms for health insurance have revolutionised the insurance industry, providing convenience and accessibility. Please follow the given guidelines to make a hassle-free transaction:

1

Research

Explore various insurance websites, comparing plans, benefits, and premiums offered by different insurers.

2

Customise Your Plan

Tailor your plan by selecting the coverage options, sum insured, and features that suit your needs.

3

Provide Accurate Information

Fill out the application form online, ensuring accurate and up-to-date information.

4

Make Online Payment

Pay the premium using secure online payment gateways, with options like credit/debit cards, net banking, or wallets.

5

Verify and Receive Policy

Complete the necessary verification process, and upon approval, receive the policy document instantly via email.

Purchasing health insurance online is a seamless and time-efficient process, offering convenience and transparency throughout.

Who Should Buy Health Insurance Plans?

Health insurance plans are essential for individuals of every age group, providing financial security and access to quality healthcare. Here’s everyone who will benefit from buying health insurance:

Young Individuals

Young Individuals

Starting early helps in availing lower premiums and comprehensive coverage, ensuring protection against unforeseen medical expenses.

Families

Families

There are special family health insurance policies that cover the healthcare needs of your family, including spouse, children, and dependent parents, safeguarding everyone's well-being.

Self-Employed and Entrepreneurs

Self-Employed and Entrepreneurs

Health insurance plans provide a safety net for those who are self-employed, ensuring timely healthcare and minimising the impact of medical expenses on their business.

Health Insurance for Senior Citizens

Senior Citizens

With age, the susceptibility to health issues increases. Health insurance for the elderly offers comprehensive coverage for seniors, including pre-existing conditions, hospitalisation, and critical illnesses.

Employees

Employees

While organisations provide health coverage, it is advised to supplement it with a personal health insurance plan to bridge any gaps and maintain coverage during job transitions.

Individuals Planning for Parenthood

Individuals Planning for Parenthood

Maternity coverage is a crucial aspect for couples planning to start a family. Health insurance plans with maternity benefits offer coverage for pre and post-natal expenses.

Considering the escalating medical costs and the uncertainties of life, it is prudent for individuals from all walks of life to invest in health insurance plans for financial security and peace of mind.

Factors Affecting Your Health Insurance Premium

When purchasing health insurance in India, it's essential to consider the factors that can affect your health insurance premium. These factors include:

  • Age: Younger individuals tend to have lower premiums compared to older ones due to their lower risk for diseases and medical conditions.
  • Medical History: Individuals with a pre-existing medical condition may be subjected to higher premiums due to the increased risk of medical expenses.
  • Lifestyle Habits: Smokers, individuals with unhealthy lifestyle habits, and those with occupational hazards may face higher premium rates as they are at a higher risk of health issues.
  • Coverage: The sum insured and the extent of coverage you choose can influence your premium. Higher coverage amounts often result in higher premium costs.
  • Geographical Location: Healthcare costs can vary depending on the city or region. Living in urban areas with higher medical expenses may lead to elevated premiums.
  • Add-On Riders: Additional riders, such as maternity benefits, critical illness coverage, or room rent waiver, increase the premium payable.

What Is the Cost and Coverage of Health Insurance in India?

When purchasing a health insurance policy, you will want to do a cost-to-coverage analysis to under the benefits offered for the price. Different plans will cater to diverse needs. The premium costs and coverage depend on factors like age, health condition, chosen coverage options, and sum insured.

By evaluating these factors, you can select a health insurance plan that strikes the right balance between affordability and the coverage you are looking for. 

Inclusions and exclusions in health insurance

The best health insurance policies in India come with a range of coverage options, and while each insurer may have unique offerings, there are some common exclusions to be aware of. Here's a breakdown of what may not be covered by some of the best health policies in India:

Do Health Insurance Plans Cover COVID-19 Claims?

COVID-19 claims are covered under health insurance subject to the following conditions:

1. The patient has valid and ongoing health insurance at the time of hospitalisation.

2. Minimum 24-hour hospitalisation at government-accredited hospitals or hospitals permitted by ICMR.

Note: Other policy-specific conditions might exist and these conditions are subjective. So every individual must check the terms and conditions of their policy thoroughly to know if COVID-19 claims are covered. 

What Are the Eligibility Criteria for a Health Insurance Plan?


To avail a health insurance policy from HDFC Life, the minimum age eligibility is typically 18 years, while the maximum age eligibility can vary based on the chosen plan. While pre-existing conditions may be considered, coverage for them may be subject to waiting periods.

Eligibility Criteria

Specifications

Age (Adults)

18-65 years

Age (Children)

90 days – 25 years

Pre-medical screenings

Depending on the insurer

Pre-existing diseases

Waiting period of at least 2 years, depends on the insurer

Why Should You Buy a Health Insurance Plan at an Early Age?

As soon as an individual turns 18 years old, it becomes essential to consider purchasing a health insurance plan.

  • Lower Premiums: Purchasing a health insurance plan at an early age enables you to access lower premiums. Younger individuals typically have fewer health issues and are considered less risky by insurance providers, resulting in lower premium costs.
  • Comprehensive Coverage: Buying health insurance early ensures that you have a comprehensive coverage plan in place. This safeguards you from unexpected medical expenses, hospitalisation, surgeries, and critical illnesses.
  • Financial Preparedness: Life is uncertain, and health-related emergencies can occur at any age. By purchasing health insurance early, you can financially prepare yourself to handle unforeseen medical expenses and protect your savings.
  • Coverage Continuity: With age, the chances of developing health conditions increase. By opting for health insurance early, you can ensure continuity of coverage, even if you develop health issues later.
  • Pre-existing Condition Waiting Period: Health insurance plans usually have waiting periods for pre-existing conditions. By purchasing a policy early, you can complete the waiting period and avail coverage for any existing health conditions in the future.

Health insurance is a vital investment that provides peace of mind and safeguards your financial well-being. By purchasing a health plan as soon as you turn 18, you secure access to comprehensive coverage, lower premiums, and enhanced protection against unforeseen medical expenses. 

Why do you need Health Insurance Why do you need Health Insurance

What Documents Are Required to Buy a Health Insurance Plan in India?

To purchase a health insurance plan, you would need to provide documents such as age proof, identity proof, address proof and other KYC documents as per the regulatory requirements. The specific documents may vary depending on your chosen plan and circumstances. 

Here are some documents required by most insurers:

  • Age Proof: Birth certificate, voter ID card, PAN card or Aadhaar card
  • Identity Proof: Voter ID card, Aadhaar card, passport, driving licence or PAN card
  • Address Proof: Aadhaar card, voter ID card, ration card, driving licence or utility bills (telephone, water or electricity bills)
  • Passport size photographs
  • Medical reports: For pre-medical checkups

How Can One Choose the Best Health Insurance Plan in 2024?

One can choose the best health insurance plan for himself/herself in 2024 by considering all the important factors like the type of policy he/she needs, coverage and premium, age limit, network hospitals, co-pay amount, waiting period, and all the add-on features.

Other important factors to consider include the insurer’s claim settlement ratio, list of network hospitals, reputation and customer service. Based on these factors, you can choose the best option for your personal and family’s needs. 

Why Should You Compare Health Insurance Plans Online?

Comparing health insurance plans online is essential to make an informed decision. Some reasons why you should compare health insurance plans online are:

Flexibility with Annuity Plans

Convenience

Comparing health insurance plans online allows you to do a cost/benefit analysis of various policies from different insurance providers. You can review the coverage, benefits, premiums, and other policy details without leaving your home.

Wide Range of Options

Wide Range of Options

Online platforms provide a wide range of health insurance options from different insurers. You can compare multiple plans side by side and choose the one that best fits your requirements.

Category of Annuity plans in India

Cost-Effective

Online comparison platforms often offer exclusive deals and discounts. By comparing health insurance plans online, you can find cost-effective options that provide comprehensive coverage.

Review and compare

Real-Time Quotes

Online comparison platforms provide real-time quotes, allowing you to see the premium amounts for different health insurance plans instantly. This helps in making quick comparisons and decisions.

Determine investment horizon

Transparent Information

Online platforms provide detailed information about each health insurance plan, including coverage, benefits, exclusions, and policy terms and conditions. This transparency helps you make an informed choice.

How to Calculate Health Insurance Premium?

Health insurance premium calculation is based on several factors, including:

  • Age: Premiums generally increase with age as the risk of medical conditions and complications increases.
  • Sum Insured: A higher sum insured leads to a higher premium.
  • Medical History: Existing medical conditions and medical history of the insured can impact the premium amount.
  • Lifestyle Habits: Certain lifestyle habits like smoking, drinking alcohol, and lack of physical activity may result in higher premiums.
  • Policy Type: The type of health insurance plan and coverage options chosen can also impact the premium amount.
  • Family Coverage: If you opt for a family health insurance plan that covers multiple family members, the premium will be higher.

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

While health insurance plans, cancer insurance, and critical illness insurance provide coverage for medical expenses, there are some key differences:

Health Insurance Plans

Health Insurance Plan

A health insurance plan covers a wide range of medical expenses, including hospitalisation costs, doctor's fees, medications, and surgeries. It provides financial coverage against various illnesses and medical emergencies up to a limit called the sum insured.

Cancer Insurance Plans

Cancer Insurance

Cancer insurance is a specific type of insurance that focuses on providing coverage for cancer-related treatment and expenses. It offers a lump sum payout upon the diagnosis of cancer, which can be used for medical treatment, supportive care, and other necessities.

Critical Illness Insurance Plans

Critical Illness Insurance

Critical illness insurance covers life-threatening illnesses such as heart disease, stroke, organ failure, and major surgeries. It provides a lump sum benefit upon the diagnosis of a covered critical illness, which can be used for medical treatment, recovery, and financial obligations.

While health insurance plans provide comprehensive coverage for a wide range of medical expenses, cancer insurance and critical illness insurance offer specialised coverage for specific illnesses. However, they usually provide a higher sum insured.

Ensure Protection against Medical Emergencies with Health Insurance

Health insurance provides vital protection against medical emergencies, ensuring financial security and peace of mind. With rising healthcare costs, it is crucial to have a comprehensive health insurance plan in place.

HDFC Life offers a range of health insurance plans that offer extensive coverage and benefits, enabling individuals and families to access quality healthcare without worrying about the financial burden.

 

Myths about Health Insurance

There are several myths surrounding health insurance that need to be addressed:

1 Myth#1 Health insurance is only for the elderly.

Fact: Health insurance is beneficial for individuals of all ages. It provides financial protection against medical emergencies and ensures access to quality healthcare.

2 Myth#2: Health insurance covers all medical expenses.

Fact: While health insurance covers a wide range of medical expenses, there are certain exclusions and limitations. It is essential to read and understand the policy terms and conditions to know the coverage details.

3 Myth#3: Health insurance is expensive.

Fact: Health insurance premiums vary based on factors such as age, sum insured, and coverage options chosen. With careful comparison and selection, affordable health insurance plans can be found.

4 Myth#4: Buying health insurance means unnecessary expenses.

Fact: Health insurance provides financial protection during medical emergencies. It helps in avoiding heavy out-of-pocket expenses and ensures access to quality healthcare.

5 Myth#5: Health insurance is unnecessary if I am young and healthy.

Fact: Medical emergencies can happen to anyone, regardless of age or health condition. Having health insurance provides financial security and peace of mind for unforeseen medical events.

 

FAQs about Health Insurance

1 Which is the best health insurance in India?

The best health insurance policy in India depends on individual requirements, coverage needs, and budget. It is recommended to compare different health insurance plans to find the one that suits your needs.

2 How can I get health insurance?

Health insurance can be purchased directly from insurance companies or through insurance agents.

3 How do I choose a health insurance plan?

Choose a health insurance plan based on factors such as coverage, benefits, premium affordability, network hospitals, and policy terms and conditions.

4 What are the diseases covered under the health insurance policy?

The diseases covered under a health insurance policy may vary depending on the plan and insurance provider. Commonly covered diseases include cancer, heart disease, kidney-related ailments, and others.

5 Which health insurance plan covers cancer?

Cancer insurance plans provide specific coverage for cancer-related treatments, including chemotherapy, surgery, and supportive care.

6 How soon can I use my health insurance policy?

The waiting period for health insurance policies varies. Read the policy terms and conditions to know when the coverage begins.

7 Do normal health insurance plans cover critical illness?

Normal health insurance plans may not cover critical illnesses. However, critical illness insurance policies and riders provide coverage for life-threatening illnesses.

8 Is it better to take a critical illness policy or health insurance plan?

Critical illness insurance and regular health insurance plans serve different purposes. A combination of both provides comprehensive coverage.

9 How much does health insurance cost for an individual?

Health insurance costs for individuals depend on factors such as age, sum insured, coverage, policy terms, etc. 

10 What are the documents required for buying a health insurance plan?

The documents required for buying a health insurance plan include identity proof, address proof, age proof, and some additional documents as per the insurer's requirements.

11 How do I estimate the cost of health insurance?

The cost of health insurance can be estimated by comparing premiums, coverage, and benefits offered by different insurance providers.

12 What is the right time to buy a Health Insurance Plan?

It is advisable to buy health insurance at a young age to avail lower premiums and ensure early coverage.

13 What are the maximum and minimum health insurance policy duration?

The maximum and minimum health insurance policy durations vary across insurance providers and policy types. It is best to check with the insurer for specific details.

HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance solutions - protection, pension, savings, investment, annuity and health.

 

1. Annual Premium amount ₹ 1869 for Male aged 35 years, Base Benefit, 10 years term, Regular Pay option, Sum Assured=10 lakhs, excluding Taxes & levies as applicable.

2. Multiple Claims of same or different conditions / procedures can be covered subject to the exhaustion of applicable Sum Insured.

3. Annual premium amount ₹ 1411 for Male aged 35 years, 10 years term, Silver option, excluding Taxes and levies as applicable.

4. Monthly Income option only available only under Platinum plan option.

5. Policy is issued on the basis of Short Medical Questionnaire.

6. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.

7. Option available under COVID-19 health cover.

8. Premium rates for age - 25 years, Male, Non Smoker, Annual mode, regular pay, exclusive of taxes. Protection - Life Option - ₹ 5,959 (rounded up), Sum Assured - ₹ 1 Cr. Policy Term - 30 years. Health - Individual Option - ₹ 487, Sum Assured - ₹ 1 Lakh, Policy Term - 3.5 months. Total annual premium = ₹ 6,446, daily premium (6,446/365 = 18 (rounded up)).

9. On positive diagnosis of COVID-19 in a Government authorized diagnostic centre as per terms and conditions.

ARN: MC/02/24/8522