Buy Comprehensive Health Insurance Plan Online
It’s great that you’ve taken the wise step of securing a health insurance plan in advance for emergencies. But are you sure it covers all the benefits you might need? 🫤
A basic plan may provide coverage, but gaps in protection can lead to unexpected expenses. That’s where a comprehensive health insurance plan becomes essential.
In today’s fast-paced world, medical costs are rising, and unforeseen health crises can strike any time. A well-rounded, comprehensive plan ensures not just hospitalization coverage but also preventive care, daycare expenses and even post-hospitalization support. Let’s discuss how and why a comprehensive health insurance plan is important.
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What is a Comprehensive Health Insurance Plan?
A comprehensive health insurance plan is one that provides all-encompassing coverage under a single policy, meaning that you don’t have to buy a number of different types of health insurance plans to cover a wide range of medical expenses.
And, unlike basic health insurance plans, comprehensive policies tend to cover high-cost procedures like organ transplants and alternative forms of treatment.
Understanding Comprehensive Health Insurance with Example
Meet Mr. Ajay, a 40-year-old professional who had a basic health insurance plan that covered hospitalization costs. However, when he was diagnosed with a critical illness, he realized that his plan didn’t cover expensive treatments, pre- and post-hospitalization care, or ambulance charges.
The financial strain was overwhelming. Fortunately, he upgraded to a comprehensive health insurance plan covering his medical bills and providing doctor consultations, diagnostic tests, and even post-treatment recovery support.
Why is a Comprehensive Health Insurance Plan Important?
The saying "health is wealth" may be familiar to you. 🙂
Our health is being neglected more often than we would like in today's hectic world. In addition to the rise in stress, more individuals are adopting sedentary lifestyles, which only cause the body to deteriorate.
Hence, purchasing a comprehensive health insurance policy is the easiest solution to cover excessive medical costs in such a scenario.
Here are some reasons why a health insurance plan is important:
What Does the Best Comprehensive Health Insurance Cover?
A Comprehensive health insurance plan provides extensive coverage to the policyholder. It can cover you, your spouse, your children and even your old age parents, depending on your policy. Here is a list of coverage provided under a comprehensive health insurance plan.
NOTE: Currently, at Digit, we only provide the consumable cover add-on option.
Is Your Health Insurance Really Worth It?
Eligibility Criteria for Buying a Comprehensive Health Insurance Policy
Everyone in India who is 18 years of age or older is eligible for health insurance. At this age, people may also begin purchasing health insurance. However, the eligibility criteria for buying comprehensive medical insurance are as follows:
Benefits of Having Comprehensive Health Insurance
Having comprehensive health insurance isn’t just about covering hospital bills; it’s about securing peace of mind. It ensures that you and your loved ones receive the best possible treatment without financial stress.
It goes beyond the basic health insurance coverage, offering several benefits such as:
Wide Coverage
Comprehensive plans come with a wide range of coverage for all kinds of health issues, such as unfortunate accidents, hospitalization expenses, day care procedures, and treatment for life-threatening critical illnesses, among many others.
Protection from Medical Expenses
The extensive coverage means that comprehensive insurance plans tend to cover a wider majority of medical expenses. This includes expenses that may not be covered under basic plans, such as pre and post-hospitalization, home hospitalization, medicines, etc.
Additional Coverages
With a comprehensive health plan, you will also be able to get more benefits that are not available with other health insurance plans. This includes things like a refill sum insured, where your SI will get replenished if you exhaust it during the policy period, or having no room rent capping (i.e. no maximum room rent limit) in your policy.
Cashless Claims
Comprehensive medical insurance policies also usually offer the facility of cashless claims, where your health insurer will take care of the bills directly with their network hospitals. Meaning you don’t need to pay any cash out of your own pocket (excluding any co-payments or deductibles).
Cumulative Bonus
Comprehensive health insurance policies come with a cumulative bonus benefit. Those who haven’t made any claims during the policy year will receive an increase in their sum insured amount in health insurance without charging an extra premium.
Lifetime Renewability
A comprehensive plan is one that offers lifetime renewability. So, as long as you pay your premium, you can continue to enjoy the benefits of the plan, irrespective of your age.
Tax Benefits
When you buy a health insurance policy for yourself or for your family members, you can claim tax benefits under Section 80D of the Income Tax Act on the premium amount. You can claim up to 50,000 if you have parents above age of 60 years.
How to Buy Comprehensive Health Insurance Online?
Buying a comprehensive health insurance policy online is now as easy as booking a movie ticket. With just a few clicks, you can compare different plans, customise your coverage, and ensure continued financial security in medical emergencies. Follow these simple steps to buy or renew a comprehensive health insurance plan:
Enter Basic Details
Visit the Digit app or website. Enter your PIN code and mobile number, select your preferred health insurance plan and provide age details, family members covered, etc.
Choose Plan & Add Member Details
Compare & select the plan, sum insured, add-on covers and apply any available discounts to get the final premium amount. Further provide the member details for everyone you’re covering.
Make Payment & Submit KYC
Once done, proceed to make the premium payment and submit your KYC documents to complete the purchase process.
Final Review & Processing
Now, your application undergoes a brief review process. Digit may request a health declaration, lifestyle information, or medical details & reports if required. Now, based on your medical underwriting, your policy will be issued and sent to your email. You can also access it anytime through the Digit app.
Documents Required to Buy a Comprehensive Health Insurance Plan
When purchasing a comprehensive health insurance policy, insurers typically require some basic documents for verification. Below is a list of optional documents that may be needed at the time of purchasing a policy:
Identity/Age Proof
✔ Aadhaar Card
✔ PAN Card
✔ Passport
✔ Voter ID
✔ Driving License
✔ Birth Certificate
Address Proof
✔ Passport
✔ Utility Bills (Electricity, Water, Gas – recent)
✔ Rental Agreement
Income Proof
✔ Income Tax Returns (ITR)
✔ Form 16
Previous Medical Reports (If any)
KYC Documents
✔ PAN Card (for financial verification)
✔ Aadhaar Card (for identity and address verification)
✔ Photograph and bank details (optional)
Note: The required documents may vary based on the insurer and the chosen plan. However, additional documents may be requested based on individual circumstances, policy terms, and underwriting guidelines.
Things to Consider Before Buying a Comprehensive Health Insurance Plan
Finding comprehensive health policy coverage that is both reasonable and appropriate for your healthcare needs may be difficult with so many things to take into account.
Well, don't worry! Here are some crucial factors to think about:
Compare the different health insurance plans available online based on their coverage benefits and premiums before choosing the one that is most suitable for you.
Remember to read the terms and conditions of your health insurance policy to determine what is covered and not covered.
Pick the sum insured based on your healthcare needs and the number of people you’re covering in your health insurance policy.
Don’t hide any critical information or medical history from your insurance company.
If you can, customize your health insurance plan, with different add-ons for better coverage.
Buy your health insurance early in life, so you will have more reasonable premiums and get through waiting periods faster.
Go through the company’s customer reviews to know more about the services offered.
Examine the insurance provider's list of network hospitals that undergo cashless treatment without paying any cash.
You can learn what circumstances and treatments your insurance will not cover by carefully reading the policy's exclusions and limitations.
Examine the insurance company's claim settlement procedure and the speed at which they have previously handled and settled cases.
How is a Comprehensive Health insurance Premium Calculated?
Numerous factors, including the amount covered, the insured's age, the number of dependents, and the kind of coverage, are taken into account when calculating the overall cost of health insurance premiums. The price for generic health insurance plans may also differ since these factors differ from person to person.
With some insurance policies, customers can also select their co-pay and deductible levels. The policyholder consents to pay a specific proportion when resolving a claim, and the premium may drop even further if the co-pay clause is in place.
To estimate the overall cost of the plan, use the health insurance premium calculator. After you enter your personal information and that of any dependents (if any), the calculator will provide you with an approximate estimate. The premium calculator is typically incorporated into insurers' purchasing procedures. As a result, you can view a free quote before purchasing insurance.
Tax Benefits of Buying a Comprehensive Health Insurance Policy
The Income Tax Act's Section 80D allows individuals to claim a deduction of up to ₹ 25,000 from their taxes for the health insurance paid within a particular fiscal year. However, the deductions vary for senior citizens.
The table below lists the section 80D tax benefits related to health insurance. It shows the maximum tax deductions for self, spouse, dependent children, and parents. The following deductions apply to all plans designated as 80D medical insurance:
Disclaimer: You can only claim these tax deductions under 80D with the Old Tax Regime. The New Tax Regime of FY 2023-2024 does not offer any tax deduction under 80D.
Buying a comprehensive health insurance policy is one of the best investments one can make. Since it provides all-round protection, you can save money by not having to buy many different covers separately. It will also help protect your savings and get the best treatment without worrying about the hospital bills.
There are many different types of health insurance plans available today, such as individual health insurance, family floater health insurance, personal accident insurance, and more. Thus, it is important to pick the right plan that suits your and your family’s requirements.
99% Claim Settlement Ratio For Digit’s Health Insurance - FY 2024-25
When it comes to health insurance, Digit stands out with a remarkable 99% Claims Settlement Ratio (CSR). But this isn’t just a number, it’s a reflection of our core promise: to be there when it truly matters.
Every claim represents a moment of vulnerability for someone. A sudden illness. A hospital emergency. A family under pressure. At Digit, we understand that, and that’s why we work relentlessly to ensure that genuine claims are processed quickly, transparently, and with empathy.
Claims Settlement Ratio = (Claims Paid + Claims Closed)/(Claims outstanding at the beginning of the year + Claims Reported - Claims outstanding at the end of the year). 2. Reinsurance and coinsurance inward claims are not included.