Comparative Analysis of Standalone Health Insurance Companies

Do standalone health-insurance companies give you better coverage? Do they do that by charging higher premium rates? What inclusions and exclusions should you expect? Overall are their products more attractive? These are questions you must have grappled with when considering your health-insurance options.

What is stand alone health insurance?

Stand-alone health insurance refers to an insurance product that a business or individual purchases to cover a specific risk or cost.

What does a Health Insurance policy not cover?

Generally, pre-existing diseases are excluded under a Health Insurance policy. Further, the policy would generally exclude certain diseases from the first year of coverage and also impose a waiting period.

What is pre-existing condition in health insurance policy?

It is a medical condition/disease that existed before you obtained health insurance policy, and it is significant, because the insurance companies do not cover such pre-existing conditions, within 48 months of prior to the 1st policy. 

Which are the insurance companies that have been covered?

Consumer VOICE has chosen seven insurance plans based on consumer feedback and product structure. These are Aditya Birla, Religare Health, Reliance Health, Apollo Munich, Cigna TTK, Max Bupa, Star Health.

What are the parameters covered?

The parameters covered include Minimum and maximum entry age, minimum and maximum sum insured, pre- and post-hospitalisation expenses coverage in terms of days, day-care procedures (numbers), ambulance cover per hospitalization, daily cash, pre-existing diseases cover (waiting period), provision for free health check-up, and policy tenure.

What are the Findings?
Details of test findings on various parameters are available in the 'April 2019 Consumer VOICE Print and Digital Magazine’ magazine.