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with a comprehensive
Health Insurance
Policy

PhonePe offers Health Insurance Policy online at affordable premiums.

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Critical illnesses and diseases are some things that most people do not worry about on a daily basis. However, with most of us leading a sedentary lifestyle, common lifestyle illnesses like diabetes, hypertension, stress, and mental health have become common causes of concern. Add to this, the ever-rising cost of treatments and medical emergencies and it becomes a financially challenging affair. So, to help you meet such challenges, a Health Insurance policy comes into the picture.

Health
insurance:
the meaning

A Health Insurance policy covers the medical costs that you suffer in a medical contingency. Health Insurance plans cover specific medical expenses and treatments.

For example, say you are hospitalised for an appendectomy. A basic medical insurance plan covers the cost of hospitalisation and appendectomy treatment. So, the medical bills you incur due to hospitalisation and subsequent appendectomy would be paid by the health insurance policy. Moreover, you might incur post hospitalisation medical expenses after being discharged from the hospital, like physiotherapy or diagnostic tests to monitor your recovery. Such expenses are also covered under the Health Insurance plan.
So, a Health Insurance plan covers the cost of medical treatment, whether it is planned or an emergency.

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The benefits of a Health Insurance plan

There are various benefits that Health Insurance plans offer. These benefits include the following:

Financial Relief

Financial Relief

A medical insurance policy covers your medical costs, thereby giving you financial relief from expensive bills.

Quality Healthcare Facilities

Quality Healthcare Facilities

You can afford quality healthcare facilities if you are insured under a Health Insurance plan.

Floater Policy

Floater Policy

You can cover your family members under a floater policy so that even if they suffer any medical contingency, the health plan pays their medical bills.

Tax Deductions

Tax Deductions

Premiums paid for Health Insurance policies are eligible for tax deductions.

Financial Relief

A medical insurance policy covers your medical costs, thereby giving you financial relief from expensive bills.

Quality Healthcare Facilities

You can afford quality healthcare facilities if you are insured under a Health Insurance plan.

Floater Policy

You can cover your family members under a floater policy so that even if they suffer any medical contingency, the health plan pays their medical bills.

Tax Deductions

Premiums paid for Health Insurance policies are eligible for tax deductions.

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Health Insurance through PhonePe - the key features

You can fulfil your Health Insurance needs through PhonePe that offers you a standard, comprehensive Health Insurance plan.

Here are some key features of the Health Insurance policies available on PhonePe’s platform:

Hassle-free services

Get a plan within minutes with just a few clicks without any medical test or physical documentation

Access your policy details on PhonePe’s mobile app whenever you want to

Online insurance through PhonePe are entirely safe and secure.

The types of Health Insurance plans that you can take

As mentioned earlier, Health Insurance plans come in different variants. Here’s a peek into the different kinds of Health Insurance plans that you can get on PhonePe:

Coverage under Health Insurance policies

Indemnity-based health plans cover the actual medical bills that you incur in a medical emergency. Here are the basic medical expenses that are covered under basic indemnity-based Health Insurance plans:

  • Medical expenses incurred before hospitalisation
  • Medical expenses incurred after being discharged
  • Ambulance costs
  • Daycare treatments that do not require 24-hour hospitalisation
  • COVID-19 hospitalisation
  • Modern and advanced treatments
  • Non-allopathic, alternative treatments that include Ayurveda, Unani, Siddha, and Homeopathy (AYUSH)

Inpatient hospitalisation that includes:

  • Room rent
  • ICU room rent
  • Doctor's consultation fee
  • Surgeon's fee
  • Anaesthetist's fee
  • Nurse's fee
  • Cost of blood, medicines, diagnostic tests, oxygen, etc.

What don't Health Insurance plans cover?

Despite the broad scope of coverage, there are certain instances that health plans don't cover. Such models are called policy exclusions. Standard exclusions include the following:

  • Illnesses or injuries suffered due to war or nuclear radiation
  • Cosmetic treatments are not covered under Health Insurance
  • Congenital disabilities are not covered under Health Insurance
  • Experimental and unproven treatments
  • Maternity-related expenses, unless specifically covered
  • Sexually transmitted illnesses and venereal diseases
  • Injuries and illnesses suffered due to participation in criminal or hazardous activities
  • Treatments for alcohol or drug addiction

The concept of the waiting period in Health Insurance

Almost every Health Insurance policy has a waiting period clause. A waiting period is a period when you don’t get coverage. Once the waiting period is over, coverage is allowed.

The waiting period is applicable in several instances. The most important one is the waiting period for pre-existing illness. If you have any illness when taking an insurance policy, like diabetes or hypertension, medical complications from such illnesses would be covered after the waiting period.

Other waiting periods that you would find would be:

Initial waiting period

An initial waiting period of 30-60 days from the date of getting the policy

Specific illnesses

Waiting period for specific illnesses like hernia, fistula, tonsillectomy, cataract, etc.

Maternity cover

Waiting period for maternity cover

Health Insurance and tax benefits

Health plans give distinct tax advantages. The premium that you pay for the policy is allowed as a deduction from your taxable income. The deduction is available under Section 80D. The limit of deduction is as follows:

For spouse and dependents

If you take a policy for yourself, your spouse, and dependent children, the deduction is Rs. 25,000 if you are below 60 years of age.

For senior citizens

If you are a senior citizen, i.e., aged 60 years and above, the deduction limit increases to Rs. 50,000

For parents

If you take a health plan for your parents, you can claim an additional deduction of Rs. 25,000.

For parents who are seniors

If your parents are senior citizens, the deduction limit increases to Rs. 50,000.

So, you can claim a deduction of up to Rs.75,000* through medical insurance premiums if you take insurance policy for yourself and your parents, and both of them are senior citizens.

*Tax benefits are subject to change in tax laws

Factors affecting Health Insurance premiums

Various factors affect your Health Insurance premium. Here are the factors that affect your Health Insurance premium:

Age

Age

The older you are, the higher would be the premium and vice-versa.

The sum insured

The sum insured

The higher the sum insured that you choose, the higher would be the premium and vice-versa.

The number of members covered

The number of members covered

If you opt for floater coverage, the premium will increase for every family member that you cover under the policy.

The scope of coverage

The scope of coverage

Different health plans have a different scope of coverage. If the coverage is wide, the premium would be high. Alternatively, if the coverage is limited, the premiums would be low.

The city in which you live

The city in which you live

Insurers also follow geography-based pricing wherein premiums are categorised for metro and non-metro cities. If you are living in a metropolitan or Tier 1 city, the premium would be high. If you live in a non-metro city or a town, the premium would be lower.

The add-ons selected

The add-ons selected

You can add coverage benefits to the policy by paying an additional premium. So, if you choose add-ons, the premium would increase.

The claim experience of the insurer

The claim experience of the insurer

Lastly, every insurance company fixes the premium of its insurance policy differently. The claim experience of the company determines the premium that it would charge. If the company has incurred a high amount of claims in a financial year, premiums would be higher in the next financial year and vice-versa.

Age

The older you are, the higher would be the premium and vice-versa.

The sum insured

The higher the sum insured that you choose, the higher would be the premium and vice-versa.

The number of members covered

If you opt for floater coverage, the premium will increase for every family member that you cover under the policy.

The scope of coverage

Different health plans have a different scope of coverage. If the coverage is wide, the premium would be high. Alternatively, if the coverage is limited, the premiums would be low.

The city in which you live

Insurers also follow geography-based pricing wherein premiums are categorised for metro and non-metro cities. If you are living in a metropolitan or Tier 1 city, the premium would be high. If you live in a non-metro city or a town, the premium would be lower.

The add-ons selected

You can add coverage benefits to the policy by paying an additional premium. So, if you choose add-ons, the premium would increase.

The claim experience of the insurer

Lastly, every insurance company fixes the premium of its insurance policy differently. The claim experience of the company determines the premium that it would charge. If the company has incurred a high amount of claims in a financial year, premiums would be higher in the next financial year and vice-versa.

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Things to check when getting Health Insurance

When you are taking a Health Insurance policy, make an informed choice. Hasty decisions might result in you choosing the wrong policy. So, when getting a Health Insurance, here are some things that you should check:

Always opt for an optimal sum insured

Always opt for an optimal sum insured

Always opt for an optimal sum insured. Medical costs have touched the roof, so you need a high sum insured to cover your medical bills sufficiently.

Parents to opt for an independent plan

Parents to opt for an independent plan

For parents, opt for an independent plan. Adding parents to the floater coverage would considerably increase the premium, and there might be coverage restrictions.

Look for the coverage benefits of the plan

Look for the coverage benefits of the plan

Look for the coverage benefits of the plan. Choose a plan that offers a comprehensive scope of coverage. Moreover, ensure that the coverage benefits suit your needs.

Always compare

Always compare

Always compare. Comparison helps you check the coverage benefits and choose a plan that offers the most inclusive scope of coverage at the most affordable premium.

Get the policy online

Get the policy online

Try and get the policy online. It is quicker, convenient, and cost-effective too.

​​Claiming from your Health Insurance plan

When you incur a claim in your Health Insurance plan, there is a process that you should follow. Here’s a look:

Inform the insurance company

Inform the insurance company immediately if you incur a claim.

Submit a pre-authorisation claim form

If you get hospitalised in a network hospital, your claims would be handled on a cashless basis. You should fill and submit a pre-authorisation claim form for getting approval for cashless claims.

Non-networked hospital

In a non-networked hospital, you need to pay the bills yourself till you are recovered. After that, submit the bills to the insurer. The company would reimburse you for the medical expenses you bore.

Submit all your medical bills

Make sure to submit all your medical bills, reports, and hospital documents to the insurance company to settle your Health Insurance claim.

Getting or renewing Health Insurance - the PhonePe way

PhonePe offers you a convenient platform to get or renew your Health Insurance plan. Here are the steps on how you can get a Health Insurance plan from PhonePe:

STEP 1/5
  1. 1. Select 'Health' Insurance

    Select the Insurance tab and choose a Health Insurance type

  2. 2. Enter Details

    Select the persons you wish to insure, cover amount & postal code

  3. 3. Select Plan & Add aditional details

    Select the plan & add additional details such as nominee details

  4. 4. Health Declaration

    Health Declaration

  5. 5. Make Payment

    Review & Buy

STEP 1/5

1. Select 'Health' Insurance

Select the Insurance tab and choose a Health Insurance type

Got questions?
Read on to find out more!

Does the Health Insurance policy cover COVID-19 treatment?
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How to compare Health Insurance plans?
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How to calculate Health Insurance premiums?
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What are the documents required for Health Insurance?
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What is the age criteria to get Health Insurance?
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When should I make a Health Insurance claim?
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What is the sum insured in Health Insurance Plans?
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What are pre-existing diseases & conditions?
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How to port a Health Insurance policy?
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*Group Insurance on PhonePe app is available only for PhonePe users

PhonePe Insurance Broking Services Private Limited. IRDAI Direct Broker (Life & General)
Reg. 766 and Broker Registration Code IRDA/DB 822/20 Valid till 10/08/2024.

Regd. office - Office-2, Floor 4,5,6,7, Wing A, Block A,Salarpuria Softzone, Service Road,
Green Glen Layout, Bellandur, Bengaluru, Karnataka-KA, Pin- 560103

CIN: U66000KA2020FTC132814

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