Health Insurance

Life Insurance

What is Health Insurance?


A medical insurance policy insures the policyholder against medical expenses incurred due to accidental injuries or sickness. Good health insurance allows you to focus on your treatment and recovery instead of worrying about hospital bills.

You can choose from different medical insurance plans based on your age, occupation, medical history, income and lifestyle habits. Health insurance is not ‘one size fits all,’ hence, there are different types of health insurance to meet different policyholders’ needs. The different types of medical insurances include individual health insurance plan, family cover, group cover, senior citizen health cover, insurance for critical illness, and top-up.

The innumerable medical insurance benefits, regardless of the type of health insurance you choose, ensure that you are protected not only financially, but also mentally.

Health Insurance
With the increase in the average cost of hospitalisation in urban and rural India, investing in a medical insurance policy has become crucial. There are medical insurance plans that go above and beyond everyday medical needs and ICICI Lombard Group Health Insurance can be your one-stop solution.

Why Health Insurance

Why is Health Insurance important?


The importance of medical insurance has seen significant growth over the past decade with a marked increase in the costs of hospitalisation. The government also acknowledges the importance of health care and offers tax exemption for your medical insurance policy.

With natural disasters and human-made catastrophe such as terrorism increasing, medical insurance and its importance have multiplied. Thus, we can increase our odds of surviving through these medical, financial and emotional hardships by appreciating the importance of medical insurance coverage.

Why should you buy a Medical Insurance at an early age?
In India, most youngsters believe that investing in medical insurance is useless. But, contrary to popular belief, investing early has many benefits, including:

Lower Premium
When you are young, the chances of getting a medical condition is less as compared to an older person. If you buy a medical insurance policy in your 20’s and 30’s, you get coverage at a lower premium.

Aligned Finances
Planning your finances early in life to include medical insurance in your investment portfolio will be beneficial in the long run. As you grow older and your responsibilities increase, your finances can go haywire. But, by investing early, you can be prepared for medical emergencies in advance.

Waiting Period
Typically, medical insurance plans have a waiting period before you get coverage. During the waiting period, you cannot make a claim even in an emergency. But, if you buy medical health insurance at an early age, you can pass through the waiting period without worrying about a medical emergency.

Lesser chances of rejection
Usually, the insurance applications are rejected if the insurer believes it is risky to cover the individual, i.e. when the age of the applicant is more. Thus, when you apply for insurance at a young age, chances of rejection are less.




  • The customer can buy the policy for any family member(s) children and / or parents.
  • The insured should be above 3 months in case of floater and 6 years in case of individual. To cover children aged between 3 months to 5 years, the policy must also cover at least 1 adult.
  • The Proposer needs to be aged above 18 years.
  • Individual(s) proposed for Insurance whose age is 46 years & above have to undergo medical tests at designated diagnostic centers
  • The policy offers guaranteed lifetime renewability.
  • Income Tax benefits u/s 80D can only be availed for policies bought for Self, Spouse, Parents and Dependent children.

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