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Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care and health system expenses, among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement.
With the inflation in the medical and healthcare sector flying through the roof, it is only wise that you invest in a good health insurance policy for all the right reasons. So do not jump on the bandwagon and simply buy the first health insurance you can get your hands on, simply to use it as a tax saving tool. Below we enlist a few important reasons of having a health insurance and an elaborate comparison of some of the best medical insurance policies in India.
Medical Inflation Is In the Range of 15%-20%

Healthcare inflation is at a scary high. If you do not invest in a good healthcare insurance policy, it can drain you of your savings significantly. Keeping in mind the room rents at private hospitals, expenses for medical tests, medicines etc. can easily run into lakhs for a health condition that affects you. And the costs are only going to rise with years going by.  Healthcare costs might eat into the savings that you had put aside for other purposes. So keep your family adequately cushioned to deal with unforeseen situations.

Related-: Health Insurance Tax Benefits under Section 80D
To Secure the Health of Your Family

A tailor-made health insurance will not only provide coverage for the breadwinner of the family, but if you invest in a family floater health insurance cover, it will help you take care of the healthcare needs of your entire family. A family floater plan includes the breadwinner, spouse and two young children. The best medical insurance policies in India can be customized with riders and top-ups, to suit your unique needs.

Not only will it save you from the hassles of investing in separate insurance covers for all family members, but will also help you club the entire insurance amount for the treatment of one family member, if required. If you have elderly dependents, you can choose a healthcare insurance plan specifically for senior citizens.
Being Prepared to Deal with Lifestyle Related Diseases

Our fast-paced lifestyle, bad eating habits, lack of exercise, stressful professional lives, pollution and hazardous environmental conditions are all major contributors leading to the rising numbers of lifestyle-related diseases. Diabetes, obesity, smoking and even alcohol addiction can lead to serious healthcare problems, which we need to be prepared to battle against.

Investing in one of the best health insurance policies in India will also help you take care of all expenses related to diseases that might affect you with age or owing to unhealthy lifestyle or habits. Alarmingly, the average age of people suffering from various diseases has also come down to the 30ís or even lower.
Being Prepared for Critical Illness

A major reason to invest in a healthcare insurance policy is to make sure that your savings are not drained in case youíre diagnosed with critical illness. Strokes, heart attacks, various forms of cancer, etc. all come under the critical illness coverage.

The costs associated with treating some critical illnesses are often out of bounds of the average middle class citizens and can run into lakhs. Prepare yourself to battle such situations which are not only financially draining, but emotionally exhausting too.
So which is the best medical insurance policy in India for families?

Here we give you a quick comparison of seven best healthcare insurance policies in India. For comparison purpose, letís take the example of a family comprising of four members, with the parents in their early 30ís and two children aged between 3 and 6. Letís assume the annual income of the family is around 5-7 lakhs.
Here is a Look at Some of the Best Medical Insurance Policies in India: