With so many health insurance companies in India, finding the best one can be difficult. But, to make it easier, you can easily browse through the list of the top insurance companies. Every year the list gets declared where you can find all the companies ranked according to their performance.
Different insurance companies offer policies with varied plan coverage features. If you want to buy an insurance plan, you should evaluate the features to identify if the premium charges are worth it. Read along to find out the top features and offerings of the companies in a nutshell.
- New India Assurance
New India Assurance Co. Ltd., established in 1919, is a multinational general insurance company. It operates in over 28 countries with several insurance service offerings. The non-life insurance company offers various health insurance policies, like – Standard Group Janata Mediclaim, New India Flexi Group Mediclaim, New India Mediclaim policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy, New India Flexi Floater Mediclaim policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy, etc.
Notable features:
- The largest and a market leading insurer across various business categories/segments.
- There are cashless treatment facilities available with a wide network of hospitals across India.
- You can avail of medical expense coverage for pre and post-hospitalization for 30 days and 60 days.
- There are medical coverage benefits for pre-existing diseases along with a waiting periodThe period of time that an individual must wait either to become eligible for insurance coverage or to become eligible.
- With family health coverage plans, get health coverage for up to six people.
- Claim settlement ratio: 92.68%, Renewability – Lifelong for retail customers. **
- Star Health and Allied Insurance
Start Health and Allied Insurance Co. Ltd., established in 1995, is an Indian company that provides insurance-related services. Star Health and Allied Insurance company is a leading private non-life insurance company with over 550+ branches all across the nation. Star Health Insurance offers 20+ healthcare plans with numerous plan benefits. Whether you want a senior citizen Mediclaim plan or a comprehensive family health insurance, Star Health and Allied Insurance provide it all.
Notable features:
- You can get cashless treatment at their network of 9000+ hospitals.
- The senior citizen health insurance policies offered by Star Insurance offer several medical benefits.
- There are disease-specific health insurance policies, like – Diabetes safe insurance policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy, Star cardiac insurance policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy, Star Cancer care gold, etc.
- Star Health Insurance also offers corona-care health policies to meet the requirements.
- There is an in-house settlement procedure with Start health Insurance, with no involvement of TPA.
- The policies also offer physician checkup expenses under their plan coverage.
- There are also EMI options for several policies to pay the premium in installments.
- United India Insurance
United India Insurance Company Limited, established in 1938, is a leading name in the insurance sector with a customer strength of 1.74 Crores. There are eleven policies under their health insurance services that cover a diverse range of customers. Starting from regular Mediclaim plans to Corona-care policies, United India Insurance offers it all. The easy claim procedures and multiple policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy benefits have made it a prime choice.
Notable features:
- There are both cashless and reimbursement facilities with the policies of United health insurance.
- There are provisions for pre and post-hospitalization expense coverage and day-care treatment cover.
- There are health checkup benefits of up to Rs.5000, at the end of every three years with almost every policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy.
- Claim settlement ratio: 78.03% , Renewability – Lifelong **
- National Insurance
National Insurance Company Limited, the oldest health insurance company in India, was established in 1906. Over the past 100+ years, the insurance company has expanded all over the country with numerous branches. The range of healthcare offerings under the National Insurance Company is versatile with 10+ plans for individual, family, floater, and student healthcare.
Notable features:
- You can get cashless treatment with the plan coverage over a wide range of 6000+ hospitals in India.
- There is no requirement for a health check-up to get policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy approval before the age of 49
- Some plans offer maternity coverage and add-on benefits against pre-existing diseases, critical illnesses, etc.
- There is coverage for vaccination procedures(Anti-rabies), infertility treatment, Homeopathy and Ayurveda treatment, etc.
- Claim settlement ratio: 83.78% , Renewability: Lifetime. **
- Oriental Insurance
Oriental Insurance Company, established in 1947, currently operates over 1800 offices all over India. With more than 10 health insurance policies under their offering, the company has emerged as a leading choice. The wide range of plans, backed by the network of hospitals offers several medical benefits with customizable features. The comprehensive plans help in treating individuals and families.
Notable features:
- Under some plans, you do not have to undergo a medical checkup till the age of 60 to get policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy approval.
- For regular plans, there is no need for medical checkups till the age of 55.
- You can get cashless treatment in over 4300+ hospitals all across India.
- There are provisions for portability and second opinion in case of critical illnesses.
- After every three years, you can undergo a free medical checkup alongside the policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy benefits.
- There is coverage for ambulance and daycare charges under the policies.
- Claim settlement ratio: 93.96% , Renewability: Lifelong **
- HDFC ERGO General Insurance
HDFC ERGO general insurance company is the third-largest private general insurer company. There are over 200 branches across India with 1.5+ crore customers. The company offers individual and comprehensive policies with a customer-first approach, making it a prime choice among the rest. With over 10 policies, HDFC ERGO also offers special plans for – Women, Diabetic patients, senior citizens, etc. HDFC ERGO became a significant player in the health insurance space after the acquisition of stand-alone health insurer Apollo Munich Health insurance company.
Notable features:
- You can avail of cashless treatment over a wide network of 10,000+ hospitals in India. The process is very swift.
- For reimbursement claims, you can get up to 90% claim within seven days.
- There is no restriction or limitation on the room rent.
- The company offers free health checkup facilities on every renewal.
- There is no need for any medical checkup for up to 45years
- Claim settlement ratio: 86.52% , Renewability: Lifelong **
- ICICI Lombard
ICICI Lombard General Insurance Company is the largest private non-life insurer. They offer several healthcare coverage facilities with a diverse range of plans. There are plans for individual coverage, family insurance, critical diseases, and many more. The private insurance company has also launched a corona care plan to help people cope with the current pandemic situation.
Notable features:
- ICICI Lombard health care policies cover expenses of minor and major medical treatments.
- It also offers coverage for doctor consultation over the telephone during the pandemic.
- You get pre-and post-hospitalization expense coverage with the plans.
- There are cashless treatment facilities in over 6300+ hospitals all across India.
- The plans cover treatment expenses for pre-existing diseases after the waiting periodThe period of time that an individual must wait either to become eligible for insurance coverage or to become eligible.
- Claim settlement ratio: 78.67%, Renewability – Lifelong. **
- Bajaj Allianz
Bajaj Allianz General Insurance Company Limited is a leading private non-life insurance company with a wide network of offices and hospitals across India. The company offers individual and comprehensive health policies covering major and minor treatment expenses. There are multiple plans that range from low to high premiums. With the policies, you can also get consultation coverage alongside the treatment expenses.
Notable features:
- You can get cashless medical treatment across 6500+ hospitals in India. The cashless response time is around 60 minutes, making it highly convenient.
- Bajaj Insurance offers critical illness insurance for men and women with different policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy plans.
- You can get a health infinity plan with no limit to the sum insured. It covers all medical expenses without any limitations.
- There are daily hospital cash benefits with special plans to save unexpected expenses during emergencies.
- Claim settlement ratio: 92.24% , Renewability – Lifelong. **
- Care Health Insurance
Care Health Insurance (earlier known as Religare Health Insurance) is a private non-life insurance company. It offers health care policies for individuals, families, and corporates. The plans are affordable with a wide variety of coverage features and premium charges. There are also international plan coverage benefits with few selective plans.
Notable features:
- You can get cashless treatment with a wide network of 8000+ hospitals across India. The time for cashless processing is around 2 hours.
- There are provisions for pre-and post-hospitalization coverage benefits within 60 days and 90 days.
- The policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy sum ranges from Rs.3 lakhs to Rs.25 lakhs with diverse medical facilities.
- There are healthcare plans for senior citizens, critical illnesses, and many more to serve a diverse range of customers.
- Claim settlement ratio: 92.83% , Renewability: Lifelong **
- Niva Bupa Health Insurance
Niva Bupa Health Insurance (formerly known as Max Bupa) is among the most popular private non-life insurance company. There are policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy offerings for individuals, families, and couples. The health care plans are diverse with affordable premium charges. The customer-centric approach of the company with efficient processing has led to its success over the years.
Notable features:
- You can get cashless treatment facilities in over 7600+ hospitals across the nation, with a cashless processing time of 30 minutes.
- There are plans for large and nuclear families alongside policies for specific medical needs.
- There is an availability of region-based premium with Niva Bupa health policies.
- You can enjoy free health checkups after every two years with the plans.
- Claim settlement ratio: 89.46% , Renewability: Lifelong. **
Compare policyThe legal document issued to the policyholder that outlines the conditions and terms of the insurance; also called the ‘policy features to select the best.
These are the leading names among the healthcare insurance service providers in India. It is best to connect to an insurance broker agency if you cannot figure out the right one among many alternatives. They are the ones to help you out with policies that suit your needs.
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