Introduction
A health insurance plan with a cover of 1 Crore or more promises endless protection and coverage for nearly all kinds of treatments. In principle, this should be more than enough to cover any unforeseen medical expenses for you and your family. However, not all 1 Crore health insurance plans are built the same way. So in this article, we will go over a few options and discuss what are some of the best options available to you as of 2023.
Best 1 Crore Health Insurance Plans
| Plan Name | Key Features | Drawbacks | Affordability | Premiums |
|---|---|---|---|---|
| Niva Bupa Reassure 2.0 +Niva Bupa Health Recharge | Combo plan, Reasonably comprehensive | Health Recharge has room restrictions, rise in complaints post-management change | Affordable | Rs 14,500 |
| Care Advantage | Standalone plan, reasonably comprehensive | 4-year waiting for pre-existing diseases, average claim settlement ratio | Affordable | Rs 24,634 |
| Aditya Birla Activ Assure Diamond + Super Health Top Up Combi | Combo Plan + Discounts for maintaining health, no room restrictions in Super Top Up | 4-year waiting for specific illnesses, relatively new company | Affordable | Rs 17,647 |
| Optima Secure Global | Comprehensive, covers all international treatments, no country exclusions | Expensive | Expensive | Rs 35,760 |
| Digit Worldwide Plan | Worldwide treatment, covers emergencies & planned treatments | New company, international claims on reimbursement basis only | Most affordable globally | Rs 39,025 |
| Care Advantage with Protect Plus Add on | Global coverage, planned & emergency hospitalizations | Claims on reimbursement basis only. Excludes US and Canada | Expensive | Rs 36,273 |
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Note: Assumption: Family 30 and 28, Bangalore
As you can see in the table above, there are two primary ways in which insurance companies market 1 Crore health plans.
- Combination Products - A combination of a base plan with a cover of (10L/25L/50L) and a Super Top Up plan of (50L/1Cr).
Combo products are generally more affordable since they are created using a base plan (very comprehensive) and a super top up plan (that is not very comprehensive). So if you have a base plan with a cover of 10 lakhs and a super top up plan with a cover of 90 lakhs. Then the base plan will cover your medical expenses until the 10 lakh limit is breached. And the Super top up plan will kick in afterwards and cover the remaining expenses until the bill adds up to 1 Crore.
The biggest drawback however is that Super Top Up plans are generally not comprehensive. They have restrictions of the kind of room you can pick. They may not cover modern treatments and they may not offer home care services. So if you are buying a combo product, you have to make sure you read the term and conditions of both policies and not just the base product.
2. A comprehensive health insurance plan with a cover of 1 crore
Most plans these days offer a cover of 1 crore or more. So you can simply buy a single plan and have all your medical costs taken care of. However, the downside is that these policies are generally more expensive than combination products. So if you are looking for something more budget-friendly, then this may not be the best option for you.
With that introduction out of the way, let’s look at the best 1 Crore Health plans in some more detail.
Affordable 1 Crore Health Insurance Plans
- Niva Bupa Reassure 2.0 (10 lakhs) +Niva Bupa Health Recharge (90 lakhs): This plan is currently marketed as Max Super Saver on several online insurance selling platforms. However if you read the brochure you will see that this is actually a combination plan made up of Niva Bupa Reassure 2.0 and Health Recharge - a super top up plan.
This is perhaps one of the most affordable plans in the market right now and the base plan (Reassure 2.0) is extremely comprehensive. So if you are looking to buy a health insurance plan with a sum assured of 1 Crore this is definitely a viable option.
Drawbacks to consider: The super top up plan i.e. Health Recharge is not as comprehensive as the base product Reassure 2.0. It doesn’t have many features present in Reassure and it has restrictions on the kind of room you can pick. Also, after the change in management (Max Bupa to Niva Bupa), we have seen a general rise in the amount of complaints. - Care Advantage: Unlike Niva Bupa’s combination plan, Care Advantage is a standalone health insurance plan that offers cover as high as 1 Crore. It’s also reasonably comprehensive that sells at a very affordable price. So if you’re on a budget, this is definitely an option for you.
Drawbacks to consider: There is a 4-year waiting period for pre-existing diseases and the only way to cut this down is to buy separate add-ons. The claim settlement and complaint numbers for Care aren’t that amazing - Aditya Birla Activ Assure Diamond + Super Health Top Up Combi Health Insurance:If you’re somebody that’s already health conscious and looking to buy a 1 Crore combo plan, then this could be your pick. It offers discounts for keeping healthy. The Super Top Up plan doesn’t have restrictions on the kind of room you can pick. And based on our assessment the premiums are quite reasonable. All in all, a solid pick.
Drawbacks to consider: There is a 4-year waiting period for certain specified illnesses which we haven’t seen in other plans. Also Aditya Birla is a relatively new company without an extensive track record.
1 Crore Health Insurance plans with Coverage for International Treatments:
One of the biggest use cases for buying a plan with a 1 crore cover is planned international treatment i.e. if you are ever diagnosed with a rare heart disease and you need state of the art treatments abroad, then a 1 crore cover can come in extremely handy. So if you are somebody who’s willing to spend some money, then you can buy one of these plans.
1) Optima Secure Global : As it stands Optima Secure is our most recommended policy. It is extremely comprehensive and HDFC’s claim settlement process is unparalleled. The Global variant of the Optima Secure plan just takes this trend further. It covers both emergencies and planned international treatments and it doesn’t exclude any specific country. If you have the money to spare, this should be the first option on your list.
Drawbacks to consider: The plan is very expensive.
2) Digit Worldwide Plan: Digit offers a Worldwide treatment plan with Sum Insured of 1 Crore. And unlike most insurance companies that only limit international treatments to emergencies, they promise to cover both emergencies and planned treatments. There’s also the fact that out of all the options we’ve assessed so far, this seems to be the most reasonably priced product for global coverage.
Drawbacks to consider: Digit is a fairly new company without an extensive track record. And the claims will only be paid on a reimbursement basis. Meaning you have to pay the medical bills yourself and then wait for reimbursement.
3) Care Advantage with Protect Plus Add on: The "Care Advantage + Protect Plus Add-on with Global Cover" add-on provides global coverage for both planned and emergency hospitalizations in foreign countries. It even offers coverage for advanced treatments. And while the plan may be expensive, this could be a good option for people who want total coverage.
Drawbacks to consider: The claims will only be paid on a reimbursement basis. Meaning you have to pay the medical bills yourself and then wait for reimbursement.
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Should you buy a 1 Crore Health Insurance Plan?
It depends on your budget. For most use cases, a 1 crore health plan may not always make sense. There are only a handful of treatments that cost you more than 25 lakhs. Even fewer that cost over 50 lakhs. So from a practical standpoint, it doesn’t really make sense to buy a policy with a cover of 1 crore, since treatments in India seldom cost you that much.
You could argue that treatments in international facilities can easily cost you a crore or more. But several policies we listed here do not offer coverage for planned international treatments. They only offer coverage for accidental treatments i.e. if you were ever hospitalized in a foreign country while travelling. In other words, if you were ever diagnosed with a rare form cancer in India and you wished to travel abroad to seek state-of-the-art treatments, then that’s classified as a planned treatment, which unfortunatley, most policies don’t cover.
However if you are picking a policy that covers global treatments or you are planning on staying in a presidential suite in a premier hospital in India, then perhaps a 1 Crore cover makes sense.
