Friends, seeing a hospital bill these days is disheartening, isn’t it? Even a minor operation can cost you 5-10 lakh rupees. And if you don’t have the money, you have to take a medical loan from the bank, and then there’s the added tension of EMIs.
But there’s a way to reduce this loan burden to zero – get the right health insurance that covers both hospitalization and the medical loan! Today, I’ll explain in simple terms which are the best plans that cover the hospital bill and, if taken, cover the loan repayment.
Let’s get straight to the point! First, understand what the problem is.
Admitted to hospital → Bill came for 8 lakhs → No money → Took out a medical loan → Now pay EMIs every month. These EMIs last for 2-3 years and also accrue interest.
However, some insurance companies have developed plans that include a “Loan Protect” or “EMI Protect” rider along with hospitalization coverage – meaning if you’re hospitalized, not only will the bill be paid, but the company will also pay your ongoing medical loan EMIs for a few months!
Top Plans That Eliminate Medical Loan Tension
HDFC Ergo my:health Suraksha + Loan Protect Rider
Hospital bill coverage is complete, plus if the medical loan is ongoing, the company will pay EMIs for 12 months. Premium is only 15-20,000 annually (for a family). This plan is the most popular because of fast claim settlement.
Star Health Comprehensive + EMI Saathi Benefit
The “EMI Protect” rider is available for free in some variants. Hospital bills and loan EMIs cover 6-12 EMIs. Day care procedures are also covered. Premiums start at 18,000 for family floaters.
Care Health Joy + Loan Care Add-on
This is a maternity plan, but it’s great for medical loan coverage. The company pays loan EMIs for up to 9 months during hospitalization. The premium is slightly cheaper – 12-15,000 annually.
Niva Bupa ReAssure 2.0 + Critical Illness Rider
If you suffer a serious illness, you receive a lump sum, which can be used to pay off the loan in one go. EMI protection can be added separately. This plan is best for those who want extensive coverage (50 lakhs-1 crore).
Aditya Birla Active Health + Hospital Cash + Loan Protector
Gets 5,000-10,000 cash per day for daily hospital stays, plus loan EMI coverage for 12 months. Premiums around 20,000, but with solid features.
| Plan Name | Cover Amount | EMI Cover Period | Annual Premium (Family) | Special Features |
|---|---|---|---|---|
| HDFC Ergo my:health + Rider | 10-50 Lakhs | 12 Months | ₹15-25k | Fastest Claim |
| Star Health Comprehensive | 10 Lakhs-1 Crore | 6-12 Months | ₹18-30k | EMI Companion Free |
| Care Health Joy | 5-25 Lakhs | 9 Months | ₹12-20k | Maternity + Loan Protection |
| Niva Bupa ReAssure 2.0 | 50 Lakhs-2 Crore | 12 Months | ₹25-40k | Lump Sum + EMI Both |
| Aditya Birla Activ Health | 10-50 Lakhs | 12 Months | ₹20-35k | Per Day Cash + EMI Cover |
Pros and Cons
Pros:
- Hospital bill and loan EMI both cover – zero stress.
- Some plans have free or very cheap riders.
- Tax benefits are also available under Section 80D.
- The claim settlement ratio is 90%+ for all.
- Pre-existing illnesses are also covered after 2-3 years.
Cons:
- Rider is not available in every plan; it may need to be added separately.
- EMI cover is only available for a limited number of months (maximum 12).
- Premiums may increase annually with age.
- Some companies only provide EMI cover for serious illnesses.
Conclusion
If you have any ongoing medical loans or are at risk for future illnesses, consider a plan today that offers EMI protection. You can start with HDFC Ergo or Star Health – both are trusted and settle claims quickly.
Save money, relieve stress, and secure your family! Let us know in the comments which plan you like best and why? And yes, share it with your friends – no one should bear the burden of a medical loan!
