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Choosing the right health insurance is crucial, especially with medical costs going up every year. Government statistics reveal that a significant 83.7% of Indians use their own household income or savings to cover hospital bills, and more than 12% depend on loans or financial assistance from family and friends to manage these costs.
In India, these costs can jump by 12-14% annually. That's why it's important to think about health insurance policy as something you'll need for a long time, about 30-35 years, to make sure you're covered no matter what happens down the road.
In this article, you will discover the importance of health insurance and how Digit Insurance can help you meet the rising healthcare costs for yourself and your family. Think of it like that one friend who you know will always be there for you whenever you’re sick or even just feeling low.
A health insurance or a medical insurance is a type of general insurance that safeguards you against financial losses by covering for you when you’re faced with a health condition or medical emergency such as due to a disease, illness or even an accident.
This includes expenses incurred during pre and post-hospitalization, annual health check-ups, psychiatric support, critical illnesses and maternity-related expenses amongst others, as per your customized health insurance plan.
Think of it like that one friend who you know will always be there for you whenever you’re sick or even just feeling low.
If you believe that, read on.
Here's why more and more people are opting for a health Insurance in India.
The primary benefit of a health Insurance is that it covers for your pre and post hospitalization related expenses in case of an unfortunate accident or illness, which would otherwise eat your bank balance away!
As per the National Family Health Survey-3, 70% of urban and 63% of rural households depend upon private hospitals where the cost of healthcare services are usually much higher than government-owned medical facilities. Thus, middle and upper-class individuals are more likely to avail of services in a private hospital.
Who doesn’t want additional tax savings, right? According to Section 80D of the Income Tax, anyone who buys a health Insurance for themselves, or their parents can claim tax benefits on the annual premium!
Contrary to popular belief, many critical illnesses like cancer and heart diseases are today diagnosed in young people <40. A health Insurance ensures you will be financially covered in the likelihood of the same.
More than anything else, a health Insurance is a smart investment to make that not only helps safeguard your health by always being there you financially but, also helps you with benefits like no claim bonuses which are an ultimate win-win for the long run!
Imagine that because of some reason, you or a family member need treatment but don’t have enough funds for it so you put it off for some time. This can often make matters worse.
A health Insurance is important as it prevents this from happening and ensures you get your required treatments done on time. Additionally, with annual health checkups included in health Insurance plans, you will always be aware of your health which can otherwise often go unnoticed.
How do you feel when you know that someone will always have your back during unfortunate situations? Relived, right? With regards to your health too- you can count on a health Insurance to have your back in times of need.
Coverages
Double Wallet Plan
Infinity Wallet Plan
Worldwide Treatment Plan
Important Features
This covers for all hospitalization expenses including due to an Illness, Accident, Critical Illness or even pandemics like Covid 19. It can be used to cover for multiple hospitalizations, as long as the total expenses are up to your sum insured.
You need to wait for a defined period from the first day of your policy to get covered for treatment related to any non-accidental illness. This is the Initial Waiting period.
Exclusive Wellness Benefits like Home Healthcare, Tele consultations, Yoga and Mindfullness and many more available on our App.
We provide a back-up Sum Insured which is 100% of your Sum Insured amount. How does Sum Insured Back Up work? Suppose your policy Sum Insured is Rs. 5 lac. You make a claim of Rs.50,000. Digit automatically triggers the wallet benefit. So you now have 4.5lac + 5 lac Sum Insured available for the year. However, one single claim, cannot be more than the base Sum Insured as in the above case, 5 lac. .
No claims in the Policy year? You get a bonus -an additional amount in your total sum-insured for staying healthy & claim free!
Different categories of rooms have different rents. Just like how hotel rooms have tarrifs. Digit plans give you the benefit of having no room rent cap, as long as it is below your Sum Insured..
Health insurance covers medical expenses only for hospitalizations exceeding 24 hours. Day care procedures refer to medical treatments undertaken in a hospital, requiring less than 24 hours due to technological advancement such as cataract, dialysis etc.
Get a world class treatment with the Worldwide Coverage! If your doctor identifies an illness during your health examination in India and you wish to get a treatment abroad, then we’re there for you.You’re covered!
We pay for your health check-up expenses upto the amount mentioned in your Plan. No restrictions on the kind of tests! Be it ECG or Thyroid Profile. Make sure you go through your policy schedule to check the claim limit.
There may be emergency life-threatening health conditions which may require immediate transportation to hospital. We absolutely understand this and reimburse for expenses incurred for your transportation to a hospital in airplane or helicopter.
Co-Payment means a cost sharing requirement under a Health Insurance Policy that provides that the Policyholder/Insured will bear a specified percentage of the admissible claims amount. It does not reduce the Sum Insured. This percentage depends on various factors like age, or sometimes also on your treatment city called zone based copayment. In our plans, there is no age based or zone based Co payment involved.
Get reimbursed for the expenses of road ambulance, in case you are hospitalized.
This cover is for all expenses before and after hospitalization such as for diagnosis, tests and recovery.
Other Features
The disease or condition that you are already suffering with and have disclosed to us before taking the policy and has been accepted by us has a waiting period as per plan opted and mentioned in your Policy Schedule.
This is the amount of time you need to wait for, until you can make a claim for a specific illness. At Digit it is 2 years and starts from the day of policy activation. For the full list of exclusions, read Standard Exclusions (Excl02) of your policy wordings.
If You sustain an Accidental Bodily Injury during the Policy Period, which is the sole and direct cause of Your Death within twelve (12) months from the date of accident, then We will pay 100% of the Sum Insured as mentioned in Policy Schedule against this cover and as per plan opted.
Your organ donor gets covered in your policy. We also take care of the pre and post hospitalization expenses of the donor. Organ donating is one of the kindest deeds ever and we thought to ourselves, why not be a part of it!
Hospitals can go out of beds, or the patient’s condition may be rough to get admitted in a hospital. Don’t panic! We cover you for the medical expenses even if you get treatment at home.
Obesity may be the root cause of so many health issues. We absolutely understand this, and cover for Bariatric Surgery when it is medically necessary and advised by your doctor. However, we DONOT cover if hospitalization for this treatment is for cosmetic reasons.
If due to a trauma, a member has to be hospitalized for a psychiatric treatment, it will be covered under this benefit, upto INR 1,00,000. However, OPD consultations are not covered under this. The waiting period for Psychiatric Illness Cover is same as Specific Illness waiting period.
Before, during & after hospitalization, there are many other medical aids & expenditures such as walking aids, crepe bandages, belts, etc.,which need your pocket’s attention.This cover takes care of these expenses that are otherwise excluded from the policy.
Add flexibility to your health insurance with add-ons. Digit offers the below exclusive add-ons to provide you with additional layers of protection beyond the basic coverage of your policy.
Your health insurance plan with Digit extends several exclusive benefits that enhance your coverage. Here are the key advantages:
Co-payment |
No |
Room Rent Capping |
No |
Cashless Hospitals |
16400+ Network Hospitals across India |
Inbuilt Personal Accident Cover |
Yes |
Wellness Benefits |
Available from 10+ Wellness Partners |
City Based Discount |
Up to 10% Discount |
Worldwide Coverage |
Yes* |
Good Health Discount |
Up to 5% Discount |
Consumables Cover |
Available as an Add-on |
Our Wellness Program is an effort in helping you reach your goal of healthy life. It aims to help you achieve a healthy lifestyle through a range of discounts and benefits on health and fitness services.
Additionally, our program includes informative sessions and programs that can help you become more aware of your health and empower you to take better care of yourself. With our wellness program, we strive to provide you with the awareness and resources needed to stay in the pink of your health!
Some of our Wellness Benefits are:
With all digital friendly and hassle-free process, buying Insurance at Digit is as easy as A.B.C. with just a few simple steps:
On the Digit app or website, enter your PIN Code and Mobile Number, and click ‘View Prices’.
Select family members to insure, add age of the eldest member and click ‘Continue' to choose your Sum Insured, Plan and Add-ons.
Next, enter the details of each family member and click ‘Pay Now' to complete the payment and mandatory KYC verification process.
You’re done! You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
For buying a health insurance plan with Digit, you will be required to provide the below documents for identity verification, proof of residence and age verification.
Disclaimer: The documents listed above are the standard requirements for purchasing Digit Health Insurance. However, additional documents may be requested based on individual circumstances, policy terms, and underwriting guidelines. Please consult with the insurance provider for a comprehensive list of required documents.
With us, you do not need to carry hard copies of your insurance policy. You can simply download it from our website or app.
The policy document will be at your fingertips without any hassle.
Follow the below steps to download the e-card for Digit Health Insurance
At Digit, our health insurance premiums vary based on healthcare costs across different cities, split into two zones for convenience.
Zone 1 - Delhi NCR, Greater Hyderabad, and Greater Mumbai.
Zone 2 - Rest of India.
Let's look at a practical example to understand how the premium works for one of our most popular health insurance plan, the 'Infinity Wallet Plan.'
Pritesh, a 26-year-old unmarried individual residing in Bangalore (Zone 2 city), has opted for the 'Infinity Wallet Plan' with a sum insured of ₹10 lakhs.
This table illustrates the starting premium amounts for a ₹10 lakhs sum insured under our Infinity Wallet Plan, varying by age group. The premium increases with age, reflecting the higher risk and potential medical costs associated with older age brackets.
In the current climate of rising inflation and escalating healthcare costs, opting for ₹10 lakh sum insured is highly recommended as it provides substantial coverage to safeguard against significant medical expenses. This level of coverage ensures that you are well-protected against the high costs of treatments and hospitalization, which can quickly deplete lower coverage amounts.
Additionally, having ₹10 lakhs sum insured offers peace of mind and financial security, reducing the risk of out-of-pocket expenses that could arise from unforeseen health issues.
Disclaimer - The premiums mentioned in this example are based on the specific scenario. Your premiums may vary depending on individual factors such as age, plan selection, and other conditions.
Below is a concise overview of the essential documents required to file your claim.
Note: The documents listed above are the standard requirements for filing an insurance claim. The company might ask for additional documents based on your requirement or policy terms.
Get cashless treatment at 16400+ hospitals across India
New to health insurance and confused how do health insurance claims work, especially with respect to Digit’s Health Insurance? We simplify it for you below.
So you’ve seen this word everywhere but not sure what it means exactly. To simply put it, a claim is what you need to do when you want your health insurance company to pay for your hospitalization expenses in case of a treatment.
Claims are usually to be informed about in advance for planned treatments and hospitalizations whereas in case of medical emergencies the situation would be different, based on the type of claim you’re going for. At Digit, there are primarily two types of health insurance claims you can opt for.
As the name suggests, cashless claims refer to claims where you don’t need to pay from your pocket at the time of hospitalization. “But isn’t my health insurer supposed to pay anyway?” you wonder. The answer to that is yes, of course.
However, there is also an option to go for reimbursement claims wherein you pay for your treatment costs at the time of hospitalization, and later – within 20 to 30 days get the bills reimbursed by your insurer.
However, when you opt for cashless claims you don’t need to do that as the hospital will directly take care of the bills with your insurer.
As mentioned above, reimbursement claims are a type of health insurance claim wherein during hospitalization, you pay for your hospital bills and later, post discharge contact your health insurer to get your hospital bills reimbursed.
This process takes anytime between 2 weeks to 4 weeks depending on your insurer. At Digit, since all processes are digital (even for documentation purposes!) the time taken to settle claims is actually a lot faster!
Before purchasing health insurance, thoroughly read the policy documents. Pay attention to inclusions, exclusions, waiting periods, and sum insured limits. Familiarize yourself with the policy’s terms and conditions. Knowing what’s covered and what’s not, will help you make informed decisions.
Be transparent about your medical history. Disclose any existing illnesses or conditions - even those you’ve recovered from. Non-disclosure can lead to claim rejection.
Opt for cashless claims by using network hospitals or healthcare providers associated with your insurance company. This reduces the chances of claim rejection and streamlines the process.
Before finalizing your health insurance plan, look for the policy’s exclusions and limitations. Take the time to read your insurance policy documents thoroughly. Being aware helps prevent surprises during claim settlement.
Make sure you gather all the patient's details accurately to confirm their eligibility for insurance claim.
It’s also important to be aware of the list of hospitals excluded from your policy’s coverage.
Given the importance of a health insurance, it is highly imperative that our healthcare policy is always active because we never know when we might need it. Hence, paying the health insurance premium on time is of utmost importance.
With an absolutely simple and digitally friendly process at Digit, you can renew your health insurance in just a few simple steps:
Step 1: Visit the Renewals tab on our website or My Policy section in Digit App and login with your registered mobile number or your policy details.
Step 2: Click on the Renew Option for the Policy which is Pending for Renewal.
Step 3: Review the plan details, verify and click 'Pay Now.'
Step 4: Make the payment and it's done!
OR
You receive regular communication from Digit to renew your health insurance policy a few days prior to the renewal. These communications come with a renewal link that you can use to directly make the payment and renew your policy.
To add or remove members from your Digit Health Insurance policy, follow these steps:
Once processed, you will receive a confirmation.
One of the benefits of buying a health Insurance plan online is, that you have the chance and endless possibility to do your research and compare health Insurance plans online.
To make your decision-making process easier, here are a list of factors you should compare before buying the best health Insurance plan:
Considering the below factors will help you assess and choose the best health insurance plan in India.
To choose the right insurance plan, start by assessing your coverage needs and looking for plans that meet those requirements. Consider unique features such as maternity coverage if planning to have a child. Evaluate additional benefits like sum insured restoration, high no-claim bonuses, value-added benefits, and annual health check-ups. Opt for a plan with comprehensive coverage to minimize out-of-pocket expenses and ensure better financial security.
Premium amount is a crucial factor to consider before choosing a plan. The higher the premium, the better the coverage. You should evaluate your monthly premium, deductible, and out-of-pocket costs and balance affordability with coverage.
Many health insurance policies have an initial waiting period (usually 30 days) during which you cannot claim benefits for illnesses or treatments. Some policies may have waiting periods for specific conditions (e.g., pre-existing diseases, maternity, or specific surgeries). Consider these when evaluating a plan.
Research the insurer’s reputation for timely claim settlements. Read reviews and consider the insurer’s responsiveness and support. Higher ratios imply better reliability.
Look for plans that allow customization. Can you choose your sum insured, add riders (additional coverage), or tailor the plan to your specific needs? Customization ensures flexibility.
Some insurers offer discounts for various reasons, such as family floater policies, long-term policies, or if you maintain a healthy lifestyle (e.g., non-smoker discount). Explore available discounts to optimize your premium.
Check if the plan covers expenses incurred before hospitalization such as diagnostic tests or consultations and for post-hospitalization expenses such as follow-up visits, medications, etc.
Wondering why health insurance premiums differ? Based on a combination of various factors, your health insurance premium is defined by the following:
Age: While health conditions are on a rise for both people young and old, younger people are still a lot healthier due to stronger immune systems. Additionally, the younger you are, the more time you have to complete your waiting period for specific illnesses and covers. Therefore, the younger you are, the lesser is your premium!
Lifestyle: More than 61% of deaths in India are due to issues stemming from lifestyle diseases, including pollution levels! Therefore, your lifestyle habits such as if you’re a smoker or not will have an influence on your health Insurance premium.
Pre-existing diseases or conditions : If you’ve already been facing symptoms of some kind, or have a family history of a particular illness, then your health Insurance premium will probably be higher due to the higher risk involved.
Location: Your premium will be affected by the city you live in because every city is different, in terms of risks and medical costs. For example, people living in North India are a lot more prone to lung diseases, due to the high percentage of pollution.
Additional Covers: One can customize their health Insurance plan based on their personal requirements and health conditions. Therefore, when you opt for additional covers like a Maternity Benefit or AYUSH benefit, your premium too increases by a small margin.
Calculate your health insurance premium online in 2 mins. Here’s how!
Based on the options you have chosen; you will be provided with your annual premium payment amount to avail the health insurance cover.
Buying a health insurance not just saves your pocket against ever rising medical costs but also offers tax benefits. Here are a few ways by which you can save tax through Health Insurance:
In 2021, when India’s population stood at 1.39 billion, nearly 514 million people across India were covered under health Insurance schemes. Out of these, 342.91 million (24.67%) were covered under government sponsored schemes, 118.7 million (8.53%) under employee health Insurance (excluding the state owned) and just 53.14 million (3.82%) were covered under individual health Insurance. [1]
However, the situation has been improving in recent years due to various initiatives by the government and Insurance companies.
The COVID-19 pandemic led to a significant increase in awareness and demand for health Insurance in India. Many people who were previously uninsured have realized the importance of having health Insurance during a health crisis, leading to an increase in the number of policyholders.
As of now, there are 32 health Insurance companies operating in India comprised of government sector insurers, private insurers, and standalone health insurers.
To increase the penetration of health Insurance in India, the government and the Insurance Regulatory and Development Authority of India (IRDAI) have taken several measures to make health Insurance more accessible and understandable to customers.
Read about IRDAI’s mission of Insurance for all by 2047.
Health insurance is an important investment that provides financial security in case of medical emergencies. Consider the below scenarios where you may want to reconsider not having health insurance:
While it is great that your employer provides health insurance, it may not be sufficient. Employee health insurance may have limitations such as lower sum insured or coverage that may not be adequate for your needs.
Also, an employer health insurance covers you only during your job tenure. Once you switch jobs and if there is a break between the next employer coverage, you are left without any insurance coverage in that period.
Some companies do not provide health cover during probation period. Owing to these reasons, it is important to review your employer's health insurance policy and consider investing in a separate individual health insurance policy to supplement it.
You might have a health insurance but with low sum insured. A low sum insured may not be sufficient to cover the medical expenses in case of serious illnesses-related hospitalizations. It is important to review your health insurance policy and consider increasing the sum insured based on your needs.
As a government employee, you might have health coverage under some specified health schemes, however, please note that such facilities are available only at a few selected medical centres, generally concentrated in major metro cities. Hence, it is suggested to have an additional personal health cover to battle emergency situations when the government facility might not be accessible.
You might choose to opt for a lower premium health insurance policy with limited coverage. While this may save money in the short term, it may not provide adequate coverage when needed. It is important to strike a balance between premium and coverage and choose a policy that provides adequate coverage for your needs.
While health insurance can save additional taxes under Section 80D of the Income Tax Act, it should not be viewed only as a tax-saving tool. The primary function of Health insurance is to provide financial security and peace of mind in case of medical emergencies.
While you may be young and healthy now, medical emergencies can occur unexpectedly. Having health insurance can provide financial security and help you cover the cost of medical treatments and hospitalization. Also, investing in health insurance at a young age can help you secure a lower premium and accumulate cumulative bonuses over time.
The right age and time to buy a health insurance is Now!
Basically, you should buy yourself a health insurance as soon as you start earning.
Buying a health insurance policy at an early age is a smart financial move. Here are some reasons why you should consider investing in a health insurance policy at an early age:
One of the primary benefits of buying a health insurance policy at an early age is that the premium is significantly lower. This is because younger individuals are considered less risky and have a lower probability of making claims. So, my premium for a 1 Crore health cover might seem high but it would still be much lower compared to the higher age groups.
By investing in a health insurance policy early, you can lock in a lower premium and save money in the long run.
Most health insurance policies come with a waiting period, which is the time during which you cannot make any claims. By investing in a health insurance policy at an early age, you can serve out the waiting period during your hale and healthy days and be covered when you need it the most.
Another benefit of investing in a health insurance policy at an early age is that you are less likely to require pre-medical tests. Most health insurance policies require pre-medical tests for individuals above a certain age or with pre-existing medical conditions. By investing in a health insurance policy at an early age, you can skip the pre-medical tests and avoid any complications.
Health insurance policies come with a cumulative bonus, which is the amount added to your sum insured for every claim-free year. When you are younger, you have lesser probabilities of falling ill and in turn, filing claim. Hence, higher probabilities of accumulating the cumulative bonus.
Choosing the right medical insurance plan can be a daunting task. Here are some guidelines to help you choose the right plan in different scenarios:
In this scenario, you should consider a basic health insurance plan with a lower premium. You may not need extensive coverage or high sum insured at this stage, but it is important to have a safety net in case of any unexpected medical emergencies. You can also opt for a plan with a high deductible, which will lower your premium further.
If you already have a corporate health cover, you may not need an extensive individual health insurance plan. However, it is still important to have a backup plan in case you lose your job or change jobs. You can opt for a health insurance plan with the basic as well as other better benefits that might be missing in your corporate policy and hence provides you with coverage when you need it.
In this scenario, you should consider a family floater health insurance plan that covers your spouse and children. Family floater plans are cost-effective and provide comprehensive coverage for your entire family. You can also opt for a plan with maternity benefits if you are planning to have children in the future.
If you are looking to secure your parents' health, you should consider a senior citizen health insurance plan. Senior citizen plans provide coverage for medical expenses that are specific to the elderly population, such as age-related illnesses and chronic conditions. Some senior citizen plans also provide benefits like domiciliary treatment, Ayush benefit etc.
If your family has a history of critical illnesses, you should consider a critical illness health insurance plan. Critical illness plans provide coverage for illnesses such as cancer, heart attack, and stroke.
Many people are under the impression that health Insurance plans cover for only serious and critical illnesses. However, that’s not true! A health Insurance plan covers for regular illnesses, accidents, psychiatric support, child-delivery and also basic annual health checkups!
Contrary to popular belief, no matter how old you are- you can be prone to illnesses both big and small. Especially, in the times we live in today- more and more younger people are being diagnosed with health conditions like PCOS, cancer and lung diseases due to our climate change driven lifestyles and unhealthy eating habits.
This honestly just depends on the kind of health Insurance plan you have, and your Insurance provider! Thanks to technology, the best health Insurance plans are now a lot quicker and hassle free!
We’re so optimistic sometimes, aren’t we? While our savings can help us in time of need, the limit of the same can never be foreseen. The best health Insurance on the other hand, is a dedicated investment you make solely towards your health so you don’t need to shell out your savings or face any financial pressure in the future!
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Disclaimer #1: *Customer can choose options at the time of availing insurance. Premium amount may vary accordingly. Insured is required to disclose any pre-existing condition or on going treatment before policy issuance in the proposal form.
Disclaimer #2: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.