A health insurance policy provides financial security to a person with respect to the hospital bills he/she may have to pay in times of medical emergencies. As we age, it is inevitable to be diagnosed with health issues of some form or the other. The chances of contracting diseases are much higher in old age. Post-retirement, after taking care of all our major responsibilities, we would want to sit back and relax. The last thing we would want is to worry over how we will be able to pay the hospital bill in case of an emergency. This is the very reason why one has to purchase a health insurance policy, preferably at a young age so that benefits are higher.
The state government of Indore ensures that there is a good number of hospitals and nursing homes to take care of the citizens’ health in the state. Indore also has many maternity homes, diagnostic centres, and rehabilitation centres. The well-developed healthcare system in the city also includes well-trained doctors and nurses. X-ray clinics, chemists, druggists, and ambulance services are also available in Indore.
Indian citizens are affected by various health issues - from malnutrition to obesity. Many studies being conducted regularly prove that there is a shockingly high number of incidents of grave health conditions like cancer, heart-related conditions, diabetes, etc., in India. Added to this are the rising medical costs. Families are sometimes forced to make difficult financial decisions such as selling their car, house, land, etc. in order to pay for expensive medical treatments. It is thus wise to purchase a health insurance policy that offers coverage for a wide range of health conditions, from critical illnesses to maternity expenses.
Many health insurance companies are prevalent in Indore, a few of them are:
Aditya Birla Capital Limited, which was earlier known as Aditya Birla Financial Services Limited, is a leading financial company in India. It manages all the financial services offered by the Aditya Birla Group. Health insurance is one of the many services offered by the company. Under the health insurance category, many individual plan variants as well as group plan variants are offered. The company also has several hospitals in its network, including Noble Hospital, Suyog Hospital, Synergy Hospital, Mayur Hospital and Research Centre, Indira Memorial Hospital, etc., in Indore.
Bharti AXA General Insurance Co. Ltd. started its operations in 2008 and currently has 101 branches pan-India. The company offers travel insurance, motor insurance, and health insurance. The insurer offers two major health insurance plans with different coverage options. Also, various critical illness plans and personal accident plans are offered for the benefit of the policyholders. The company boasts of having a hospital network of more than 4,100 hospitals that includes hospitals such as Curewell Hospital Pvt. Ltd., Mayank Hospital, Noble Hospital and Intensive Care Unit, Saluja Eye Care Centre and Varma Union Hospital in Indore.
SBI General Insurance Co. Ltd. started its operations in 2010 and is present in more than 21,000 branches of the SBI group. The general insurance products offered by SBI include motor insurance, travel insurance, home insurance, personal accident insurance, and health insurance. The company offers several health insurance plans, each designed for a specific purpose. The network hospitals of the company in Indore are Mayank Hospital, The Recovery Hospital, Vision Centre, Indore India Eye Care, Vasan Eye Care Hospital, etc.
Apollo Munich Health Insurance Company Ltd. is a joint venture between Apollo Group and Munich Health. While Apollo Group is a leading group of hospitals in India, Munich Health is a popular health insurance company worldwide. Being a health insurance company, they offer a wide range of health insurance plans designed specifically for the members of the policy – based on whether they are individuals, families, or senior citizens. The company also offers several travel insurance and personal accident plans. The insurer has tie-ups with hospitals throughout the country, some of which in Indore are Neema Hospitals Pvt. Ltd., Medi-Square Hospital Pvt. Ltd., Vedant Hospital Pvt. Ltd., Eureka Hospital Pvt. Ltd., etc.
Care Health Insurance Co. Ltd. is a specialised health insurance company that is promoted by leading organisations such as Care Enterprises Limited and Fortis Healthcare. Care is an Indian financial services group and Fortis Healthcare manages over 50 healthcare centres in India. The health insurance plans offered include specialised health insurance plans, travel insurance, and fixed benefit insurance plans. The company has an array of hospitals on its list of network hospitals. Some of the hospitals in Indore are Life Line Hospital, Charak Hospital Pvt. Ltd., Mahaveer Hospital, Prashanti Hospital, Bharat Memorial Hospital, Sai Janki Hospital, etc.
Majority of the health insurance companies offer two claim settlement options. The reimbursement option allows the policyholder to pay for the complete hospital bill at the time of discharge and then submit all the bills, prescriptions, receipts, reports, and other relevant documents along with the claim form and original policy document to the insurance company. The company will verify the claim and then transfer the amount to the policyholder’s account. The cashless transaction option, on the other hand, is a convenient option for the insured persons. In this case, the policyholder is only required to notify the insurance company when he/she is being hospitalised in a network hospital of the company. The company will then directly pay the hospital bill at the time of discharge. While both the claim settlement options are available in network hospitals, only the reimbursement option is available in non-network hospitals.
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