Cheapest Health Insurance in India 2020

There are a great number of comprehensive health insurance plans offered in India; however, some charge cheaper premiums than others. Our analysts at ValueChampion have researched hundreds of policies to help you find the most affordable plans based on your preferences.

  • Iffco Tokio General Insurance - Individual Health Protect
  • SBI General Insurance - Retail Health Insurance Policy
  • The New India Assurance Company Limited - Mediclaim Policy
  • Star Health and Allied Insurance - Star Health Gain Insurance
  • Universal Sompo General Health Insurance - Complete Healthcare Insurance - Essential
  • Magma HDI General Insurance Company - One Health - Support
  • Bajaj Allianz General Insurance - Health Guard - Gold Plan
  • Aditya Birla Health Insurance - Activ Assure Diamond
  • Star Health and Allied Insurance - Star Health Gain Insurance
  • Aditya Birla Health Insurance - Activ Assure Diamond

Finding the right health insurance policy can be tricky. Not only are plans difficult to understand, but pricing and coverage details are not always transparent. Many individuals who conduct their own research end up having more questions than answers. To make the process easier, our team of analysts conducted a study of approximately 75 health insurance policies and 15,000 quotes, to help individuals identify the most affordable health insurance plans available in India.

Graph showing Average Individual Health Insurance Premiums by Insurer and Plan

Cheapest Health Insurance Plans for Individuals

We found that the cheapest health insurers are Iffco Tokio General Insurance, SBI General Insurance, The New India Assurance Company, and Star Health and Allied Insurance. These plans offer the lowest prices and best coverage for individuals across India. Read about each insurer and plan below.

Our Picks:
Sum InsuredRs. 50,000 - Rs. 2,000,000Rs. 50,000 - Rs. 500,000Rs. 300,000 - Rs. 750,000Rs. 100,000 - Rs. 1,500,000
Day CareCoveredUp to sum insuredCoveredPartially covered
Pre-Hospitalisation45 days60 days30 days30 days
Post-Hospitalisation60 days90 days60 days60 days
AYUSH TreatmentCovered10% of sum insured of Rs. 15,000 of treatmentNone25% of sum insured
Health Check-Up1% of sum insuredCovered up to Rs. 2,500 (1 free check-up after 4 claim free years)Free health check-up after 2 renewalsFree check-up after every 3 claim free years

Editor's Review

Iffco Tokio General Insurance - Individual Health Protect is a cheap and valuable plan compared to its competitors. We found that premiums for this plan are approximately 18% - 24% cheaper than average. However, the cheap premiums also result in lower coverage in terms of benefits. Although the plan has lower benefit coverage, it fares well when compared to plans in a similar price range. There are a few benefits that can be a great value-add including; ambulance coverage of up to Rs. 3,000, a daily hospital allowance, and domiciliary hospitalisation covering up to 20% of sum insured. For the patients that prefer alternative medicine types, this plan will also include AYUSH coverage.

For individuals on a tight budget, SBI General Insurance - Retail Health Insurance Policy is a great option because it is the cheapest plan on the market. SBI categorises the plan into three zones as a way to fairly separate pricing for India. Zone A represents Mumbai and New Delhi, Zone B represents Chennai, Kolkata, Bangalore, Ahmedabad, Hyderabad, and Pune. Zone C comprises the rest of India. It is important to note that we averaged the premiums for the 3 zones offered to create a fairer comparison across health insurance offerings that don't separate plans by zones. With this in mind, SBI's premiums are 20% - 34% cheaper than the competitor average.

Despite its competitive premiums, SBI's health insurance plans offer fairly comprehensive benefits that can be useful for generally healthy individuals. For instance, health checkups are not covered entirely, but are covered up to Rs. 2,500. However, you can earn a free check-up after 4 consecutive claim-free years without any break of insurance. Furthermore, the plan states that it covers 20% of sum insured or up to Rs. 20,000 for domiciliary hospitalisation. The plan completely covers in-patient hospitalisation and daycare coverage.

Health E-Connect Insurance by Liberty General Insurance is an affordable plan that offers one of the cheapest premiums for patients across India. The premium offered is approximately 19% - 34% cheaper (across all ages) than the average offered in India. This plan also offers unlimited renewal as well as full day care coverage.

Some of the benefits include, the plan covers the cost of domiciliary expenses, day care in-patient hospitalisation expenses, and organ donor expenses. Furthermore, the plan offers insured patients with a recovery benefit lump-sum of Rs. 10,000 payable in continuous hospitalization of more than 10 days. These benefits are among many others that will help any consumer through their health insurance needs.

The New India Assurance Company Limited Mediclaim Policy is an affordable plan that is packed with attractive benefits for younger to middle aged people. This plan is 7% - 18% cheaper than the average premium charged by competitors. The benefits that are offered include a low waiting period for pre-existing conditions of 24 months (compared to the average 36-48 months), cataract surgery up to 20% of sum insured or up to Rs. 50,000. You'll also be eligible for a cumulative bonus of 25% on your sum insured for the following year if you have a claim free year—the maximum for this is 50%. It is important to note that the policy does not cover those over 54 years old. Thus, we recommend this plan for younger individuals.

We found that the cheapest health insurers are Iffco Tokio General Insurance, SBI General Insurance, The New India Assurance Company, and Star Health and Allied Insurance. These plans offer the lowest prices and best coverage for individuals across India. Read about each insurer and plan below.

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InsurerPremium
  • Sum Insured: Rs. 50,000 - Rs. 2,000,000
  • Day Care: Covered
  • Pre-Hospitalisation: 45 days
  • Post-Hospitalisation: 60 days
  • AYUSH Treatment: Covered
  • Health Check-Up: 1% of sum insured
Rs. 4,747
  • Sum Insured: Rs. 50,000 - Rs. 500,000
  • Day Care: Up to sum insured
  • Pre-Hospitalisation: 60 days
  • Post-Hospitalisation: 90 days
  • AYUSH Treatment: 10% of sum insured of Rs. 15,000 of treatment
  • Health Check-Up: Covered up to Rs. 2,500 (1 free check-up after 4 claim free years)
Rs. 5,418
  • Sum Insured: Rs. 100,000 - Rs. 500,000
  • Day Care: Covered
  • Pre-Hospitalisation: 30 days
  • Post-Hospitalisation: 60 days
  • AYUSH Treatment: None
  • Health Check-Up: Free health check-up after 2 renewals
Rs. 5,724
  • Sum Insured: Rs. 100,000 - Rs. 1,500,000
  • Day Care: Partially covered
  • Pre-Hospitalisation: 30 days
  • Post-Hospitalisation: 60 days
  • AYUSH Treatment: 25% of sum insured
  • Health Check-Up: Free check-up after every 3 claim free years
Rs. 5,747
Premiums are for a sum insured amount of Rs. 500,000
Graph showing Average Individual Health Insurance Premiums by Insurer and Plan

Editor's Review

Iffco Tokio General Insurance - Individual Health Protect is a cheap and valuable plan compared to its competitors. We found that premiums for this plan are approximately 18% - 24% cheaper than average. However, the cheap premiums also result in lower coverage in terms of benefits. Although the plan has lower benefit coverage, it fares well when compared to plans in a similar price range. There are a few benefits that can be a great value-add including; ambulance coverage of up to Rs. 3,000, a daily hospital allowance, and domiciliary hospitalisation covering up to 20% of sum insured. For the patients that prefer alternative medicine types, this plan will also include AYUSH coverage.

For individuals on a tight budget, SBI General Insurance - Retail Health Insurance Policy is a great option because it is the cheapest plan on the market. SBI categorises the plan into three zones as a way to fairly separate pricing for India. Zone A represents Mumbai and New Delhi, Zone B represents Chennai, Kolkata, Bangalore, Ahmedabad, Hyderabad, and Pune. Zone C comprises the rest of India. It is important to note that we averaged the premiums for the 3 zones offered to create a fairer comparison across health insurance offerings that don't separate plans by zones. With this in mind, SBI's premiums are 20% - 34% cheaper than the competitor average.

Despite its competitive premiums, SBI's health insurance plans offer fairly comprehensive benefits that can be useful for generally healthy individuals. For instance, health checkups are not covered entirely, but are covered up to Rs. 2,500. However, you can earn a free check-up after 4 consecutive claim-free years without any break of insurance. Furthermore, the plan states that it covers 20% of sum insured or up to Rs. 20,000 for domiciliary hospitalisation. The plan completely covers in-patient hospitalisation and daycare coverage.

Health E-Connect Insurance by Liberty General Insurance is an affordable plan that offers one of the cheapest premiums for patients across India. The premium offered is approximately 19% - 34% cheaper (across all ages) than the average offered in India. This plan also offers unlimited renewal as well as full day care coverage.

Some of the benefits include, the plan covers the cost of domiciliary expenses, day care in-patient hospitalisation expenses, and organ donor expenses. Furthermore, the plan offers insured patients with a recovery benefit lump-sum of Rs. 10,000 payable in continuous hospitalization of more than 10 days. These benefits are among many others that will help any consumer through their health insurance needs.

The New India Assurance Company Limited Mediclaim Policy is an affordable plan that is packed with attractive benefits for younger to middle aged people. This plan is 7% - 18% cheaper than the average premium charged by competitors. The benefits that are offered include a low waiting period for pre-existing conditions of 24 months (compared to the average 36-48 months), cataract surgery up to 20% of sum insured or up to Rs. 50,000. You'll also be eligible for a cumulative bonus of 25% on your sum insured for the following year if you have a claim free year—the maximum for this is 50%. It is important to note that the policy does not cover those over 54 years old. Thus, we recommend this plan for younger individuals.

Cheapest Health Insurance Plans for Families

We found that the cheapest family health insurance plans are Universal Sompo General Health Insurance, Magma HDI General Insurance Company, Bajaj Allianz General Insurance and Aditya Birla Health Insurance. These insurers offer the best prices and most useful benefits for families in India.

Our Picks:
Sum InsuredRs. 300,000 - Rs. 500,000Rs. 200,000 - Rs. 500,000Rs. 300,000 - Rs. 5,000,000Rs. 400,000 - Rs. 20,000,000
Day CareCoveredCovered up to sum insuredCoveredCovered for 586 procedures
Pre-Hospitalisation30 days30 days60 days30 days
Post-Hospitalisation60 days60 days90 days60 days
AYUSH TreatmentUp to sum insuredCoveredRs. 20,000 per policy yearCoverage depends on selected sum insured
Maternity BenefitDelivery covered up to Rs. 15,000NoneCovered - Exact amount depends on sum insuredNone

Editor's Review

If you're looking for an affordable family health insurance plan, then Universal Sompo's Complete Healthcare Essential can be a suitable choice. For a family of 4 (2 parents and 2 kids), its premiums are between 52% - 57% cheaper than the average family insurance plan. Its coverage includes in-patient treatment, domiciliary treatment, and out-patient consultation. Additionally, the plan covers AYUSH up to the selected sum insured, so it can be a good option if you want to get alternative medicine treatments. This gives all family members an option to receive alternative medicine.However, since it offers less sum insured options with a relatively lower maximum sum of 500 Lakhs, we'd recommend this plan for families who are willing to settle for lower coverage in exchange for cheaper premiums.

Magma HDI General Insurance Company's One Health Support plan is an affordable family health insurance plan with premiums that are 44% - 47% cheaper than other insurers. The One Health Support plan offers benefits such as critical illness coverage up to the sum insured and personal accident coverage up to the sum insured. It also offers a worldwide emergency hospitalization benefit that provides in-patient health coverage outside of India up to 50% of the sum insured. However, you should note that the waiting period for pre-existing diseases is 48 months, which is on the longer end compared to other insurers. Thus, One Health might not be the best option for people who require immediate coverage for their pre-existing conditions.

The Health Guard Gold Plan by Bajaj Allanz General Insurance is a great comprehensive health insurance option that costs approximately 40% less than the average. Since Bajaj Allianz separates its health insurance plans into 2 zones, we've taken the average to provide an apples to apples comparison. Zone A prices are applied to residents of Mumbai, Delhi, Hyderabad and Secunderabad, Bangalore, Kolkata, Ahmedabad, Vadodara, and Surat. Zone B represents the families who reside in any other part of India. Zone B is typically priced 20% lower than Zone A. However, both plans are still affordable relative to their competitors.

Despite the premium differences between the geographical zones, the plans are identical in coverage. In terms of benefits, the Health Guard Gold plan offers family-friendly benefits such as maternity expenses for delivery, newborn coverage, and AYUSH cover. Since maternity and delivery costs can be expensive, these benefits can be very useful for couples who are looking to start a family.

The Activ Assure Diamond plan by Aditya Birla Health Insurance charges affordable prices for families looking for a mix of affordable premiums and great benefits. Our analysis showed that premiums for a family of 4 are approximately 35-46% cheaper compared to other family plans on the market. While this plan provides competitive premiums for younger primary policyholders, we found that premiums become more competitive the older the policyholder is.

Despite the low prices, Activ Assure Diamond's coverage is robust. For instance, you have the option of choosing a sum insured up to 2 crores—one of the highest sums on the market. You'll also receive full coverage for domiciliary expenses, 586 day care procedures (even if hospitalisation is for less than a day) and pre- and post-hospitalisation services. People with chronic conditions such as asthma, high blood pressure and high cholesterol will also be assigned a health coach by Aditya Birla, who will provide advice and support. Lastly, you'll also receive a 150% reload of your sum insured if you max out your benefits in a given year, giving you additional coverage. Due to these benefits, Activ Assure Diamond can be a good option for families who would like additional support on their health journey and peace of mind benefits. These are all great benefits for both families and elderly members looking for health insurance.

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Button\" data-eventlabel=\"Aditya Birla Health Insurance\" class=\"ShortcodeLink--root AffiliateButton--button js-event-click\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Aditya Birla Health Insurance\" href=\"\/redirect?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.adityabirlacapital.com%252Fhealthinsurance%252F%2523%2521%252Fproduct-listing\"\u003EGet a Quote \u003C\/a\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003C\/div\u003E\n\u003C\/div\u003E\n\u003Cdiv class=\"AffiliateBannerDesktop--root\"\u003E\n \u003Cdiv class=\"AffiliateBanner--root \"\u003E\n \u003Cdiv class=\"AffiliateBanner--image\"\u003E\n \u003Cdiv class=\"ShortcodeImageBare--root \"\u003E\n \u003Cdiv class=\"ShortcodeImageBare--image-container\"\u003E\n \u003Ca class=\"js-event-click\" data-eventcategory=\"Affiliate health_insurance: Aditya Birla Health Insurance - Image\" data-eventlabel=\"Aditya Birla Health Insurance\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Aditya Birla Health Insurance\" href=\"\/redirect?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.adityabirlacapital.com%252Fhealthinsurance%252F%2523%2521%252Fproduct-listing\"\u003E\u003Cimg alt=\"Aditya Birla Health Insurance\" class=\"ShortcodeImage--image\" style=\"width: 200px;\" src=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/aditya-1.png\" srcset=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/aditya-1.png 1x, https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_2.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/aditya-1.png 2x\"\u003E\u003C\/a\u003E\n \n \u003C\/div\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003Cdiv class=\"AffiliateBanner--link\"\u003E\n \u003Cdiv class=\"AffiliateButton--root \"\u003E\n \u003Ca data-eventcategory=\"Affiliate health_insurance: Aditya Birla Health Insurance - Button\" data-eventlabel=\"Aditya Birla Health Insurance\" class=\"ShortcodeLink--root AffiliateButton--button js-event-click\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Aditya Birla Health Insurance\" href=\"\/redirect?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.adityabirlacapital.com%252Fhealthinsurance%252F%2523%2521%252Fproduct-listing\"\u003EGet a Quote \u003C\/a\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003C\/div\u003E\n\u003C\/div\u003E"],"offsetPercentage":20}
InsurerPremium
  • Family Sum Insured: Rs. 300,000 - Rs. 500,000
  • Day Care: Covered
  • Pre-Hospitalisation: 30 days
  • Post-Hospitalisation: 60 days
  • AYUSH Treatment: Up to sum insured
  • Maternity Benefit: Delivery covered up to Rs. 15,000
Rs. 11,923
  • Family Sum Insured: Rs. 200,000 - Rs. 500,000
  • Day Care: Covered up to sum insured
  • Pre-Hospitalisation: 30 days
  • Post-Hospitalisation: 60 days
  • AYUSH Treatment: Covered
  • Maternity Benefit: None
Rs. 14,476
  • Family Sum Insured: Rs. 300,000 - Rs. 5,000,000
  • Day Care: Covered
  • Pre-Hospitalisation: 60 days
  • Post-Hospitalisation: 90 days
  • AYUSH Treatment: Rs. 20,000 per policy year
  • Maternity Benefit: Covered - Exact amount depends on sum insured
Rs. 16,260
  • Family Sum Insured: Rs. 400,000 - Rs. 20,000,000
  • Day Care: Covered for 586 procedures
  • Pre-Hospitalisation: 30 days
  • Post-Hospitalisation: 60 days
  • AYUSH Treatment: Coverage depends on selected sum insured
  • Maternity Benefit: None
Rs. 17,835
Premiums are for a sum insured amount of Rs. 500,000

Editor's Review

If you're looking for an affordable family health insurance plan, then Universal Sompo's Complete Healthcare Essential can be a suitable choice. For a family of 4 (2 parents and 2 kids), its premiums are between 52% - 57% cheaper than the average family insurance plan. Its coverage includes in-patient treatment, domiciliary treatment, and out-patient consultation. Additionally, the plan covers AYUSH up to the selected sum insured, so it can be a good option if you want to get alternative medicine treatments. This gives all family members an option to receive alternative medicine.However, since it offers less sum insured options with a relatively lower maximum sum of 500 Lakhs, we'd recommend this plan for families who are willing to settle for lower coverage in exchange for cheaper premiums.

Magma HDI General Insurance Company's One Health Support plan is an affordable family health insurance plan with premiums that are 44% - 47% cheaper than other insurers. The One Health Support plan offers benefits such as critical illness coverage up to the sum insured and personal accident coverage up to the sum insured. It also offers a worldwide emergency hospitalization benefit that provides in-patient health coverage outside of India up to 50% of the sum insured. However, you should note that the waiting period for pre-existing diseases is 48 months, which is on the longer end compared to other insurers. Thus, One Health might not be the best option for people who require immediate coverage for their pre-existing conditions.

The Health Guard Gold Plan by Bajaj Allanz General Insurance is a great comprehensive health insurance option that costs approximately 40% less than the average. Since Bajaj Allianz separates its health insurance plans into 2 zones, we've taken the average to provide an apples to apples comparison. Zone A prices are applied to residents of Mumbai, Delhi, Hyderabad and Secunderabad, Bangalore, Kolkata, Ahmedabad, Vadodara, and Surat. Zone B represents the families who reside in any other part of India. Zone B is typically priced 20% lower than Zone A. However, both plans are still affordable relative to their competitors.

Despite the premium differences between the geographical zones, the plans are identical in coverage. In terms of benefits, the Health Guard Gold plan offers family-friendly benefits such as maternity expenses for delivery, newborn coverage, and AYUSH cover. Since maternity and delivery costs can be expensive, these benefits can be very useful for couples who are looking to start a family.

The Activ Assure Diamond plan by Aditya Birla Health Insurance charges affordable prices for families looking for a mix of affordable premiums and great benefits. Our analysis showed that premiums for a family of 4 are approximately 35-46% cheaper compared to other family plans on the market. While this plan provides competitive premiums for younger primary policyholders, we found that premiums become more competitive the older the policyholder is.

Despite the low prices, Activ Assure Diamond's coverage is robust. For instance, you have the option of choosing a sum insured up to 2 crores—one of the highest sums on the market. You'll also receive full coverage for domiciliary expenses, 586 day care procedures (even if hospitalisation is for less than a day) and pre- and post-hospitalisation services. People with chronic conditions such as asthma, high blood pressure and high cholesterol will also be assigned a health coach by Aditya Birla, who will provide advice and support. Lastly, you'll also receive a 150% reload of your sum insured if you max out your benefits in a given year, giving you additional coverage. Due to these benefits, Activ Assure Diamond can be a good option for families who would like additional support on their health journey and peace of mind benefits. These are all great benefits for both families and elderly members looking for health insurance.

Cheapest Health Insurance Plans for Senior Citizens

We found that the cheapest senior citizen health plans for individuals and families were Star Health and Allied Insurance and Aditya Birla Health Insurance, respectively. These two insurers are not only among the cheapest for their categories, but they also offer benefits that are useful for senior citizens.

Our Picks:
Day CareCoveredCovered for 586 procedures
AYUSH TreatmentCoveredCoverage depends on selected sum insured
Pre-Hospitalisation:30 days30 days
Post-Hospitalisation60 days60 days
Health Check-UpCoveredFree annual check-up

Editor's Review

Star Health Gain Insurance by Star Health and Allied Insurance is an affordable plan that offers the cheapest premiums for primary insured individuals that are 65 years old or older. The premium offered is approximately 27% cheaper than other competitors. The plan offers unlimited renewal as well as full day care coverage.

Additionally, the plan covers the cost of room and board including up to 1% of sum insured for a nursing home. The coverage also includes anesthesia, blood, oxygen, operation theater charges, cost of peacemaker, and related materials.

The Activ Assure Diamond plan by Aditya Birla Health Insurance is a solid plan for the elderly with lower prices and good benefits that cater to senior citizens. The plan charges a premium that is 46% cheaper than the average premium for senior citizens at 65 years of age.

Furthermore, the coverage provided can be particularly useful for the elderly. For instance, domiciliary expenses are fully covered, allowing elderly patients to receive treatment from home. Further, a health coach is assigned to those who may need one for chronic conditions that are common with the elderly like high blood pressure and high cholesterol. This is a great peace of mind benefit because a health coach can make all the difference for senior citizens who need extra attention. The plan also provides an additional 150% reload of sum insured, which will give you additional coverage once you reach your yearly coverage limit.

{"items":["\u003Cdiv class=\"AffiliateBannerMobile--root\"\u003E\n \u003Cdiv class=\"AffiliateBanner--root \"\u003E\n \u003Cdiv class=\"AffiliateBanner--image\"\u003E\n \u003Cdiv class=\"ShortcodeImageBare--root \"\u003E\n \u003Cdiv class=\"ShortcodeImageBare--image-container\"\u003E\n \u003Ca class=\"js-event-click\" data-eventcategory=\"Affiliate health_insurance: Star Health and Allied Insurance Limited - Image\" data-eventlabel=\"Star Health and Allied Insurance Limited\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Star Health and Allied Insurance Limited\" href=\"\/redirect?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.starhealth.in%252Fcomprehensive-health-insurance-plan%253FnoOfAdults%253D1%2526noOfChildren%253D0\"\u003E\u003Cimg alt=\"Star Health and Allied Insurance Limited\" class=\"ShortcodeImage--image\" style=\"width: 200px;\" src=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/star-1.png\" srcset=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/star-1.png 1x, https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_2.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/star-1.png 2x\"\u003E\u003C\/a\u003E\n \n \u003C\/div\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003Cdiv class=\"AffiliateBanner--link\"\u003E\n \u003Cdiv class=\"AffiliateButton--root \"\u003E\n \u003Ca data-eventcategory=\"Affiliate health_insurance: Star Health and Allied Insurance Limited - Button\" data-eventlabel=\"Star Health and Allied Insurance Limited\" class=\"ShortcodeLink--root AffiliateButton--button js-event-click\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Star Health and Allied Insurance Limited\" href=\"\/redirect?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.starhealth.in%252Fcomprehensive-health-insurance-plan%253FnoOfAdults%253D1%2526noOfChildren%253D0\"\u003EGet a Quote \u003C\/a\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003C\/div\u003E\n\u003C\/div\u003E\n\u003Cdiv class=\"AffiliateBannerDesktop--root\"\u003E\n \u003Cdiv class=\"AffiliateBanner--root \"\u003E\n \u003Cdiv class=\"AffiliateBanner--image\"\u003E\n \u003Cdiv class=\"ShortcodeImageBare--root \"\u003E\n \u003Cdiv class=\"ShortcodeImageBare--image-container\"\u003E\n \u003Ca class=\"js-event-click\" data-eventcategory=\"Affiliate health_insurance: Star Health and Allied Insurance Limited - Image\" data-eventlabel=\"Star Health and Allied Insurance Limited\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Star Health and Allied Insurance Limited\" href=\"\/redirect?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.starhealth.in%252Fcomprehensive-health-insurance-plan%253FnoOfAdults%253D1%2526noOfChildren%253D0\"\u003E\u003Cimg alt=\"Star Health and Allied Insurance Limited\" class=\"ShortcodeImage--image\" style=\"width: 200px;\" src=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/star-1.png\" srcset=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/star-1.png 1x, https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_2.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/star-1.png 2x\"\u003E\u003C\/a\u003E\n \n \u003C\/div\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003Cdiv class=\"AffiliateBanner--link\"\u003E\n \u003Cdiv class=\"AffiliateButton--root \"\u003E\n \u003Ca data-eventcategory=\"Affiliate health_insurance: Star Health and Allied Insurance Limited - Button\" data-eventlabel=\"Star Health and Allied Insurance Limited\" class=\"ShortcodeLink--root AffiliateButton--button js-event-click\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Star Health and Allied Insurance Limited\" href=\"\/redirect?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.starhealth.in%252Fcomprehensive-health-insurance-plan%253FnoOfAdults%253D1%2526noOfChildren%253D0\"\u003EGet a Quote \u003C\/a\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003C\/div\u003E\n\u003C\/div\u003E\n","\n\u003Cdiv class=\"AffiliateBannerMobile--root\"\u003E\n \u003Cdiv class=\"AffiliateBanner--root \"\u003E\n \u003Cdiv class=\"AffiliateBanner--image\"\u003E\n \u003Cdiv class=\"ShortcodeImageBare--root \"\u003E\n \u003Cdiv class=\"ShortcodeImageBare--image-container\"\u003E\n \u003Ca class=\"js-event-click\" data-eventcategory=\"Affiliate health_insurance: Aditya Birla Health Insurance - Image\" data-eventlabel=\"Aditya Birla Health Insurance\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Aditya Birla Health Insurance\" href=\"\/redirect?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.adityabirlacapital.com%252Fhealthinsurance%252F%2523%2521%252Fproduct-listing\"\u003E\u003Cimg alt=\"Aditya Birla Health Insurance\" class=\"ShortcodeImage--image\" style=\"width: 200px;\" src=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/aditya-1.png\" srcset=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/aditya-1.png 1x, https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_2.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/aditya-1.png 2x\"\u003E\u003C\/a\u003E\n \n \u003C\/div\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003Cdiv class=\"AffiliateBanner--link\"\u003E\n \u003Cdiv class=\"AffiliateButton--root \"\u003E\n \u003Ca data-eventcategory=\"Affiliate health_insurance: Aditya Birla Health Insurance - 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InsurerPremium
  • Sum Insured: Rs. 100,000 - Rs. 500,000
  • Day Care: Covered
  • Pre-Hospitalisation: 30 days
  • Post-Hospitalisation: 60 days
  • AYUSH Treatment: Covered
  • Health Check-Up: Covered
Rs. 17,700
  • Family Sum Insured: Rs. 400,000 - Rs. 20,000,000
  • Day Care: Covered for 586 procedures
  • Pre-Hospitalisation: 30 days
  • Post-Hospitalisation: 60 days
  • AYUSH Treatment: Coverage depends on selected sum insured
  • Maternity Benefit: None
Rs. 17,835
Premiums are for a sum insured amount of Rs. 500,000

We found that the cheapest senior citizen health plans for individuals and families were Star Health and Allied Insurance and Aditya Birla Health Insurance, respectively. These two insurers are not only among the cheapest for their categories, but they also offer benefits that are useful for senior citizens.

Editor's Review

Star Health Gain Insurance by Star Health and Allied Insurance is an affordable plan that offers the cheapest premiums for primary insured individuals that are 65 years old or older. The premium offered is approximately 27% cheaper than other competitors. The plan offers unlimited renewal as well as full day care coverage.

Additionally, the plan covers the cost of room and board including up to 1% of sum insured for a nursing home. The coverage also includes anesthesia, blood, oxygen, operation theater charges, cost of peacemaker, and related materials.

The Activ Assure Diamond plan by Aditya Birla Health Insurance is a solid plan for the elderly with lower prices and good benefits that cater to senior citizens. The plan charges a premium that is 46% cheaper than the average premium for senior citizens at 65 years of age.

Furthermore, the coverage provided can be particularly useful for the elderly. For instance, domiciliary expenses are fully covered, allowing elderly patients to receive treatment from home. Further, a health coach is assigned to those who may need one for chronic conditions that are common with the elderly like high blood pressure and high cholesterol. This is a great peace of mind benefit because a health coach can make all the difference for senior citizens who need extra attention. The plan also provides an additional 150% reload of sum insured, which will give you additional coverage once you reach your yearly coverage limit.

How to Compare Health Insurance Policies

The research and analysis that we have conducted came from thousands of premium quotes from many insurers with plans that can be applied to individuals or families. You have to decide which one would fit your needs best. For example, if you are an single person looking for a plan to cover your own medical costs, then we would recommend you look at the individual plans. They will offer you health insurance benefits at a lower cost than a family plan.

On the other hand, if you are looking to insure your entire family, it is best to consider a family health insurance plan or family floater plan. Depending on your family you can pick between the cheapest options identified in the tables above. If you are looking to only cover your immediate family, then the family floater is a good option; however, due to the fact that the floater insurance is based off of the eldest member and may not always cover parents/ grandparents, we would recommend the family option. There are many great cheap health insurance options available. We recommend that you carefully consider the costs and benefits of each one, in order to find the best coverage to keep your family safe and healthy.

Methodology

To successfully gather the data, we identified the most prominent health insurance plans in India. We have used approximately 20 health insurance providers and over 100 different plans that led us to collect over 15,000 premium quotes. In this article we have discussed 9 insurers.

Health Insurance Providers in ValueChampion’s Study
ReligareManipalCignaBajaj AllianzSBI
Aditya BirlaLibertyRoyal SundaramKotak
Star HealthIffco TokioUniversal Sompo

Then, we analysed the premium pricing and other relevant data points to better compare the insurance plans. Using this data, we were able to come up with a ratio that helped us determine which premiums were more affordable for the sum insured that was offered for the respective plan. For the family floater section, we selected 5 plans that offered family floater options from 5 separate insurers to get an average figure of what the premium range is. This way, consumers can confidently search family floater premiums and make a knowledgeable decision on which premium to select.

While the scope of our research expansive and our analysis is thorough, there are always limitations associated with this type of study. In this case, our first limitation was that it is impossible to collect data for all the plans and all the insurance providers across India. Therefore, we selected the most prominent and comprehensive plans. Additionally, we simplified the analysis by selecting Mumbai as the city we collected the quotes for rather than taking the time to research every city in India. By using Mumbai, we selected the city with the greatest population. This was a limitation because the premiums can slightly vary by city; however, looking into each city would complicate the research. The final major limitation that we came across was the family floater limitation, we decided to provide readers with an average after sampling 5 different plans from 5 different insurers. It is possible that we would have arrived at a more accurate figure, had we reviewed additional plans. However, after doing our research we had decided that 5 plans from 5 insurers offered enough sample variability to cover family floater options.

Sahmi Chowdhury

Sahmi is a Junior Research Analyst specialising in credit cards and insurance in India. He previously worked in the financial services sector at Brown Brothers Harriman and True Capital Management.