In the realm of healthcare, financial preparedness is just as vital as timely medical intervention. One unexpected illness or hospitalisation can derail your savings—unless you're protected. A health insurance policy acts as a critical safety net, shielding you from rising medical costs. For many individuals and small families, a Rs. 2 lakh health insurance plan strikes the right balance between basic protection and budget-friendly premiums. It covers essential medical needs without overwhelming your finances, making it a smart starting point for first-time buyers or low-risk individuals.
Ready to get insured? Compare Rs. 2 lakh health plans on Bajaj Finance Insurance Mall and choose the one that fits your budget and medical needs—starting at just Rs. 9.3/day*.
Benefits of medical insurance
A health insurance policy provides several benefits that help you stay financially secure in case of medical emergencies. Some benefits include:
- Financial protection: A health insurance policy provides financial security and helps you overcome the financial burden of medical expenses.
- Comprehensive cover: A good medical insurance policy also provides coverage for different medical expenses, including hospitalisation, pre-, and post-hospitalisation expenses. pre-, and post-hospitalisation expenses.
- Affordable health plans: A medical insurance policy offers coverage against a host of medical expenses at an affordable price.
- Tax benefits: By investing in a health insurance policy, you can avail tax benefits under Section 80D of the Income Tax Act.
What’s covered under a Rs. 2 Lakh health insurance plan?
A health insurance Rs. 2 lakh policy usually offers the following coverage benefits:
In-patient hospitalisation expenses including room rent, surgery, and nursing
Pre- and post-hospitalisation (usually 30 and 60 days)
Ambulance charges up to a defined limit
Daycare treatments (for surgeries not requiring 24-hour stay)
AYUSH treatments in select policies
What’s not covered under a Rs. 2 Lakh mediclaim policy?
While affordable and useful, a Rs. 2 lakh mediclaim policy may come with certain exclusions:
Pre-existing diseases (covered only after a waiting period)
Cosmetic or dental procedures not medically necessary
Injuries due to self-harm, drug use, or adventure sports
Non-allopathic treatments unless explicitly stated
Hospitalisation solely for diagnostics with no active treatment
Always read the policy document to know specific exclusions.
Key factors which can affect the 2 Lakh medical insurance premium
Your Rs. 2 lakh medical insurance premium can vary based on several parameters:
Age of the insured – Higher age attracts higher premium
Pre-existing conditions – These increase risk and hence premium
City of residence – Urban areas have higher medical costs
Type of plan – Individual, floater, or senior citizen policy
Add-ons – OPD cover, maternity benefits, and NCB boosters may increase premium
Eligibility criteria for Rs. 2 lakh health insurance plan
The eligibility criteria for a Rs. 2 lakh health insurance policy varies from one insurance provider to another. However, generally, any person between the age group of 18 to 65 years with a good medical history can opt for the policy.
The insurance provider may also check the individual's health condition before accepting the policy application.
You can explore Pocket Insurance policies providing coverage of up to Rs. 2 lakh offered through Bajaj Finance.
