Best ways to find the right health insurance policy: A comparison of ICICI Lombard, HDFC Ergo, Care, Niva Bupa, Tata AIG policies

Choosing a health insurance policy these days isn’t just about snagging the lowest premium. With medical costs on the rise and plans packed with features, the real trick is figuring out what you are actually getting when you purchase a policy.

From limits on room rent and benefits that get restored to how quickly claims are settled and which hospitals are in the network, every single feature can make a huge impact on your out-of-pocket expenses during a medical emergency.

To make it easier for policyholders to compare the key differences, here’s a detailed comparison of individual health insurance plans from Care, HDFC ERGO, Tata AIG, ICICI Lombard, and Niva Bupa, provided by Square Insurance Brokers Pvt. Ltd.


Also read: Latest claim settlement ratio of health and general insurers released by IRDAI in 2026: Niva, Acko, Aditya Birla, Galaxy lead; Shriram, IFFCO Tokio fall below 90%

Comparison of different health insurance plans in India (2026)

Below is a detailed comparison of leading insurers for a 30-year-old non-smoker:

Premium and sum insured

Parameter	Care Health (Care Supreme)	Niva Bupa (ReAssure 2.0)	TATA AIG (MediCare Premier)	ICICI Lombard (iHealth)	HDFC ERGO (Optima Secure)
Annual Premium – ₹5L SI (30 yr, Individual, Non-smoker)	~₹6,800	~₹7,200	~₹7,500	~₹8,000	~₹7,800
Annual Premium – ₹10L SI	~₹9,500	~₹10,200	~₹10,800	~₹11,500	~₹11,000
Annual Premium – ₹1Cr SI	~₹18,000	~₹19,500	~₹20,500	~₹22,000	~₹21,000
Sum Insured Options	₹5L – ₹6Cr	₹5L – ₹1Cr	₹3L – ₹3Cr	₹5L – ₹50L	₹5L – ₹2Cr

Source: Square Insurance Brokers Pvt. Ltd.

Premium rises with age

Health insurance premiums rise with age as the risks of medical conditions and hospitalization increase over time.

According to Square Insurance Brokers, for a 40-year-old non-smoking individual, the annual premium for a ₹5 lakh sum insured starts at around ₹9,500 for Care Health, ₹11,500 for ICICI Lombard, and ₹11,200 for HDFC ERGO.

For a ₹10 lakh sum insured, the annual premium is approximately ₹13,500 for Care Health, ₹14,800 for Niva Bupa, ₹15,500 for Tata AIG, ₹16,000 for ICICI Lombard, and ₹15,800 for HDFC ERGO.

Coverage and benefits of various health insurance plans

Comparing insurance policies based only on premiums is not enough. While a lower premium may seem attractive initially, the true value of a policy depends on the coverage and benefits it provides during a medical emergency.

A comprehensive health insurance policy today goes beyond basic hospitalisation cover. Features such as no-room-rent limit, maternity benefits, OPD cover, restoration benefits, and no-claim bonus can significantly impact the final claim experience and reduce out-of-pocket expenses.

Here’s a look at the coverage and benefits offered by different health plans.

Parameter	Care Health (Care Supreme)	Niva Bupa (ReAssure 2.0)	TATA AIG (MediCare Premier)	ICICI Lombard (iHealth)	HDFC ERGO (Optima Secure)
Room Rent Limit	No limit (SI ≥ 5L)	No limit	Single A/C room	Single A/C room	No limit
Maternity Cover (Rider)	Optional rider	Yes (2 yr wait)	Optional rider	Not available	Optional rider
OPD Cover	Optional	Yes (ReAssure+)	Optional	No	Optional
Newborn Baby Cover	Yes (maternity add-on)	Yes (Day 1)	Yes (maternity add-on)	No	Yes (maternity add-on)

All the plans cover pre-hospitalisation expenses for 60 days and post-hospitalisation expenses for 180 days, except for Tata AIG and ICICI Lombard health plans, which cover post-hospitalisation expenses for 60 days.

All the plans also provide mental health coverage. Additionally, they cover day-care procedures, while the Tata AIG plan specifically covers over 540 procedures.

Also read: Top 10 insurers with highest number of complaints in handling health insurance; Star, Care and Niva among top 3

For AYUSH treatment, Care Health, Niva Bupa, Tata AIG, and HDFC ERGO provide coverage up to the sum insured, whereas ICICI Lombard covers AYUSH treatment expenses up to 25% of the sum insured.

What is a restoration benefit in health insurance policy?

A restoration benefit, also known as a refill benefit, restores your sum insured after it is exhausted due to a settled claim within the same policy year.

According to the Square Insurance Brokers, in terms of sum insured restoration benefits, Care Health offers unlimited restore, Niva Bupa provides ReAssure unlimited benefits, Tata AIG allows auto restore once, and HDFC ERGO offers restore benefits once every year, while ICICI Lombard does not provide a restore benefit.

How does No Claim Bonus (NCB) work in health insurance?

A No Claim Bonus (NCB) in health insurance is a reward for not filing a claim during a policy year. It increases the sum insured of a health insurance policy without increasing the premium, or alternatively offers a discount on the renewal premium.

According to the Square Insurance Brokers, for No-Claim Bonus (NCB), Care Health, Niva Bupa, and HDFC ERGO offer a 50% increase per year up to 100% of the sum insured, Tata AIG offers a 25% increase per year up to 100%, while ICICI Lombard provides a 20% increase per year.

What’s the waiting period for a health insurance policy?

The waiting period is a key detail that many people miss when they are looking at different health insurance options.

In health insurance, the waiting period is the time after you purchase a policy during which certain benefits and coverages are not available. During this time, the insurer does not cover specified illnesses, treatments, or pre-existing diseases.

Here, all the health insurance plans have an initial waiting period of 30 days and for pre-existing diseases (PED), Care Health, Niva Bupa, ICICI Lombard, and HDFC ERGO have a waiting period of three years, while Tata AIG has a waiting period of four years.

Also read: Want higher health insurance coverage through super top-up policy? HDFC Ergo, Aditya Birla, ICICI Lombard, Niva Bupa, Care plans compared

Additionally, for specific diseases, all five health insurance plans have a waiting period of two years.

Network and claim settlement ratio of health insurance plans

Besides the features of the policy, the operational strength of the insurer also matters significantly.

A larger hospital network generally improves cashless treatment access, while a stronger claim settlement ratio reflects the insurer’s ability to settle claims efficiently.

Parameter	Care Health (Care Supreme)	Niva Bupa (ReAssure 2.0)	TATA AIG (MediCare Premier)	ICICI Lombard (iHealth)	HDFC ERGO (Optima Secure)
Network Hospitals	22,000+	10,000+	10,000+	8,500+	13,000+
% of claims paid in less than 3 months during 2024-25	99.95	100	94.14	98.45	98.85

What are the exclusions and limitations of these health insurance policies?

Like all health insurance policies, these plans also come with exclusions.

According to the Square Insurance Brokers, cosmetic and dental treatments are excluded under all five health insurance plans. Similarly, obesity and weight-loss treatments are also excluded across all the plans.

For adventure sports injuries, Care Health, Niva Bupa, and HDFC ERGO offer optional coverage, whereas Tata AIG and ICICI Lombard exclude such coverage.

Additional Features

According to the Square Insurance Brokers, Care Health, Niva Bupa, and HDFC ERGO offer unlimited telehealth/e-consultation services, while Tata AIG and ICICI Lombard provide limited access.
For annual health check-ups, while Niva Bupa and HDFC ERGO offer the benefit every year, Care Health provides it after one year. Tata AIG and ICICI Lombard offer it after every two years.

Global emergency cover is available as an optional rider under Care Health, Tata AIG, and HDFC ERGO plans, whereas Niva Bupa and ICICI Lombard do not offer this benefit.

Different policies may suit different types of buyers depending on age, family size, medical history and budget.