In a world where health uncertainties can strike at any moment, having a robust health insurance plan is more of a necessity than a choice. One option that provides a balance between affordability and coverage is a Rs. 1 lakh health insurance plan.
This article will delve into the details of such a policy, exploring premiums, features, benefits, and eligibility criteria. Also, know the documents required for purchase, coverage details, and the major types of plans available.
Premiums and features for Rs. 1 lakh health insurance plan
The premium for a Rs. 1 lakh health insurance plan is relatively affordable. It can range from Rs. 2,000 to Rs. 5,000 annually. One of the significant features of the plan is that it provides a considerable sum assured of up to Rs. 1 lakh. It covers hospitalisation expenses, pre- and post-hospitalisation expenses, and other medical expenses. The insurance policy also provides coverage for various illnesses, including minor and major surgeries and accidental injuries.
Bajaj Finance offers Pocket Insurance plans that provide coverage of up to Rs. 1 lakh at a nominal annual premium. These plans provide comprehensive coverage and also have plans for specific illnesses. A few of these plans include:
Policy |
Annual premium (in Rs.) |
Coverage up to (in Rs.) |
1,188 |
1 lakh |
|
99 |
50,000 |
|
1,199 |
1 lakh |
|
678 |
1 lakh |
There are various other similar health insurance plans that you can explore. These are available through a completely paperless buy journey.
Benefits of Rs. 1 lakh health insurance plans
While the coverage amount may seem modest at first glance, Rs. 1 lakh health insurance plans come with a range of benefits that can make a significant difference in times of need.
Also read: Health Insurance Benefits.
Affordability
The primary advantage is the affordability of the premium. Individuals who may be hesitant to invest in a higher coverage plan can find comfort in the fact that a Rs. 1 lakh health insurance plan still provides a solid foundation of financial protection.
Basic coverage
These plans often cover essential medical expenses, including hospitalisation costs, doctor's fees, diagnostic tests, and medication expenses. This basic coverage ensures that policyholders can avail necessary medical services without worrying about the financial burden.
Preventive care
Some Rs. 1 lakh health insurance plans may also include coverage for preventive healthcare services. This can encompass regular health check-ups and vaccinations, promoting proactive health management.
Quick processing
The application and approval process for Rs. 1 lakh health insurance plans is typically swift and hassle-free. This ensures that individuals can secure coverage without unnecessary delays.