Rs. 5 Lakh Health Insurance

The best health insurance plans with a sum assured of Rs. 5 Lakh are listed below.

1. Reliance Healthwise

The Standard Plan, Silver Plan, and Gold Plan are the three options for the Reliance HealthWise Plan. The total sum insured for all of these variants is between Rs. 1 Lakh and Rs. 5 Lakh. This comprehensive family health insurance plan includes numerous benefits such as hospitalisation coverage, daycare treatment, domiciliary hospitalisation, pre and post-hospitalization fees, and the cost of a health check-up, among others.

Features and Benefits:

• More than 3000 network hospitals offer cashless treatment options.
• Allows for a 5-day nursing allowance.
• Discounts ranging from 10% to 40% are available on memberships, investigations, drugs, and other products.
• Section 80D of the Income Tax Act allows you to deduct premiums paid for this policy.
• Policyholders are granted a recovery benefit if they are hospitalised for more than 10 days.
• The policy specifies the sum of money that will be used to cover the expenses of the person accompanying the policyholder.
• The policy also includes a 15-day free look period.

2. Star Mediclassic

Star Health's Medi Classic Insurance Policy reimburses hospitalisation charges incurred as a result of sickness, illness, or disease, allowing you to better manage your and medical expenses of your family. Accidental injuries to the person or in the car are also covered by the medical insurance policy.

Features and Benefits:

• Emergency ambulance expenditures for transporting a covered patient to the hospital are reimbursed up to a maximum of Rs. 750/- each hospitalisation and Rs. 1500/- per policy period.
• Medical expenses incurred up to 30 days before the admission date.
• 2 % of the Sum Insured for room, boarding, and nursing charges given by the Hospital / Nursing Home, up to a maximum of Rs.5,000/- each day.
• Allows for the cost of medicines and drugs to be covered.

3. Young Star

The Young Star Insurance Policy by Star Health Insurance Company is a plan that covers all medical expenses incurred as a result of hospitalisation. It also provides unique features such as automatic restoration, ambulance costs, no room rental cap, and mid-term inclusions, among others.

Features and Benefits:

• The policy includes two types: Gold and Silver, each with a different sum insured choice.
• There is no ceiling on room rent, allowing treatment in a single air-conditioned room.
• The cost of the health checkup is covered.
• Automatic restoration of the insured amount up to 100% is available.
• Hospitalization costs incurred as a result of an accident are reimbursed.
• It is allowed to include a recently married spouse, a newborn, or a legally adopted child in the middle of the pregnancy.
• According to the Income Tax Act, tax benefits can be obtained.

4. Care Freedom Health Insurance

Care Health Insurance is an indemnity-based insurance that protects you and your family from severe medical costs. Indemnity-based health insurance policies compensate you for the entire cost of your medical treatment. This current health insurance policy comes with a variety of sum insured alternatives.

Features and Benefits:

• It is applicable to people of all ages, including adults, children, and the senior citizens.
• Once a policy year, it provides the insured with an annual medical check-up at a Care Health Insurance Limited network hospital.
• It offers cashless care at more than 16,500 hospitals in the Care Health Insurance network.
• It provides tax benefits on the premium paid for the policy under Section 80D of the Income Tax Act of 1961.
• If the sum insured amount of the policyholder runs out during the insurance period, it will be automatically renewed an infinite number of times.

5. Star Comprehensive

When medical costs rise, a Star Comprehensive Health Insurance policy can help policyholders manage by offering financial aid in the case of a medical emergency. It is a full-featured family health insurance plan with no sub-limits or caps. The policy covers all members of the family for a single sum insured.

Features and Benefits:

• Star Health Insurance now has over 11,000 hospitals in its network. You can quickly obtain cashless treatment from one of the nearby network hospitals in times of need.
• In-house claim settlement options are available through Star Health Insurance.
• Tax deductions of up to Rs. 25,000 are available to policyholders under the age of 60, and deductions of up to Rs. 50,000 are available to senior persons (above 60 years of age).
• A 'No-claim' bonus is declared for each year without a claim, and the bonus amount is accumulated.

Why Purchase Rs. 5 Lakh Health Insurance?

Medical care is costly, particularly in the private sector, therefore purchasing a health insurance policy for yourself and your family is a must. Hospitalization has the capacity to deplete your financial account and throw your finances into disarray. It will be considerably more difficult if the individual who brings in the money is now in a hospital bed. All of this can be prevented by paying a small annual premium that will take care of your worries in the event of a medical emergency.