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Insurance Article

Living in Mumbai - Which Health Insurance Plan Should You Opt For?

August 30 2017

A list of things to know that could help a ‘Mumbaikar’ choose the right health insurance plan

For someone living in a city like Mumbai, deciding on a health insurance plan can be extremely difficult. This is because life in Mumbai is fast-paced and stressful, especially for those running the race of making a living here. However, with the simple tips listed below finding the perfect health insurance for you will not be that tough a chore.


The cost of living in Mumbai is very high. So, make sure to account for all of your basic cash flow, including rent, bills etc. before deciding on the cost for premiums. Try to choose a policy cover and add-ons/riders that you may need, with premiums you can afford.

Sometimes, a cheaper policy may not cover all your needs, but the policy that does cover them, you cannot afford. In such a situation, find a balance between your needs and the affordability of the premium. In other words, find a middle path and look for an affordable policy that covers most of your needs.


Life in Mumbai is quite hectic. The number of vehicles on the road increases the risk of accidents. As a result, there is a greater chance of needing to make a claim. So, a policy with a higher sum assured, say ₹5 lakhs instead of ₹3 lakhs, should be preferred.

Additionally, purchasing a personal protect insurance cover could secure your family financially, in case of your death due to an accident. Thus, it acts a source of succour for the bereaved relatives in their time of distress.

Claim Settlement

Claim settlement is about how quickly and efficiently your claims are met. The claim settlement ratio indicates how good an insurance company is at handling claims. Choosing a company with a high claim settlement ratio (or a low claim pending ratio) is better. There are quite a few health insurance companies in Mumbai, with fairly high claim settlement ratios that you can choose from.

Risk Factors

Certain Health Insurance plans from ICICI Lombard do not cover certain types of diseases. This usually holds true for the first two years of purchasing your policy. However, there will be a few permanent exceptions as well. It is therefore, important to consider these while deciding the health insurance policy for you.

Additionally, the chances of acquiring chronic diseases is greater in a city like Mumbai, with its high levels of dust and pollution. Water-borne diseases are common as well, especially during the monsoon. So, choose a plan that covers all of these risk factors, while purchasing your health insurance.


Insurance companies usually have a list of network hospitals in every city, from where you can avail the cashless hospitalization benefit. For example, find the list of hospitals in Mumbai that ICICI Lombard has tied up with.

Additionally, alternative treatments like Ayurveda, Siddha, Homeopathy, etc. are not usually covered under a standard health insurance plan. However, a health booster plan can be added to your basic health plan to cover them.

Take your time to inform yourself about all the various plans out there before deciding on the best health insurance plan for you. Consult an insurance expert/agent to clear any doubts you may have for a worry-free future.

ICICI Lombard  also provides health insurance plans like Family Health Insurance, Health Booster, Arogya Sanjeevani Policy, Corona Kavach Policy which offers people with the much needed financial backup during any medical emergencies.

Related Article:

5 Things to Keep in Mind While Buying Health Insurance in Mumbai
Living in Ahmedabad - Which Health Insurance Plan Should You Opt For?

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