Best Health Insurance Companies in India

There are numerous options when it comes to buying health insurance for yourself, and because of that it also becomes very difficult to choose the best among all of them because various health insurance companies provide a lot of benefits to the customers who buy health insurance from them. However, as we discussed above that it becomes difficult at times to choose the best health insurance company that can fulfil all the requirements.

For your convenience, we have listed some of the best health insurance companies in India below, the number of hospitals they have tied up with and also the Incurred claim ratio. You can compare each one of them and can choose as we will also discuss each health insurance company in India in detail.

Let us see the top 10 Best Health Insurance Companies in India

Now that we know the names of the top 10 best health insurance companies in India let us also discuss the different types of health insurance that these top 10 health insurance companies provide to their customers.

Types of Health Insurance Plans Top 10 Health Insurance companies provide:

When it comes to choosing the best health insurance company there are different parameters to compare each one of them to the other and the type of health plan insurance that these top health insurance companies in India provide is one of the major parameters to compare the best out of them.

Best health insurance companies in India provide different types of health insurance in India like individual health insurance in India, family floater health, there are specific health plan insurance also available such as specific health plan insurance for children, women, senior citizens, etc.

Types of plans that health insurance companies provide are:

·         Cashless hospitals

·         Claim settlement ratio

·         Customer Support Service

·         Claim procedure

·         Insurer reviews and ratings

As a customer, you should do some research by yourself when it comes to choosing health insurance in India and also choosing the best health insurance company.

Overview of top 10 health insurance companies in India

Let us now explore some details about the top 10 health insurance companies below.

Aditya Birla Health Insurance

Aditya Birla Health Insurance Company is one of the top health insurance companies in India, this best health insurance company is the subordinate of Aditya Birla Capital Ltd. This health insurance company in India was launched to simply avail the best health plan insurance to the customers. This best health insurance company comes under the top 10 health insurance companies as it has maintained its reputation that way.

They provide their health insurance in India with their best offers and also this best health insurance company provide its services around the globe such as in South Asian countries, Middle East countries and South-East Asian countries.

This best health insurance company provides a lot of benefits to its customers which are listed below:

·         The mode of Health plan insurance of this health insurance company in India is cashless hospitals. This means that this insurance company provides cashless treatments to its customers as this health insurance company in India has partnered with more than 5850 hospitals around India in almost 650 cities.

·         This health insurance company in India provide access to more than 800 fitness centres, yoga centres, gyms, etc.

·         This is also one of the top health insurance companies in India as it allows the policyholders to have discounts on their medicines across 2300 pharmacies in around 250 cities in India.

·         Ayush cover treatment is also provided to the patient as per the opted health plan insurance.

·          This best health insurance company provides their benefits not only at the hospital but also at the fitness assessment centres, diagnostic centres, wellness centres, etc.

Bajaj Allianz Health Insurance

Bajaj Allianz Health Insurance Company is amongst the top 10 health insurance companies as it offers so many amazing benefits to its customers. This best health insurance company offers health products that are beneficial for customers of a particular age group. Bajaj Allianz Health Insurance Company became one of the top health insurance companies in India as it became the first health insurance company of India to provide captive TPA services with additional benefits to its policyholders. If we talk about the Incurred ratio of this health insurance company in India, on average it is 85% which is considered as good.

Now, let us see some of the benefits provided by one of the top 10 health insurance companies below:

·         This best health insurance company provides 3 major health insurance products, which are- Health Guard, Silver Health, and Star Package. Customers can choose health plan insurance according to their understanding and preferences.

·         This best health insurance company offers health coverage not only to individuals, and families but to senior citizens also.

·         Bajaj Allianz’s health insurance has become one of the top health insurance companies in India as it has designed specific health plans that cover life-threatening illnesses like strokes, tumours, cancer, etc.

·         This best health insurance company offers a cashless claim settlement facility for their policyholders which is available in more than 6500 hospitals.

·         This health insurance company in India also provides international coverage, as this best health insurance company, offers a Global personal guard health plan for its customers.

·         If you want to choose health insurance in India and are willing to consider this health insurance company in India, in that case, you should also know that this company is best known for the cashless claims settlement within 60 minutes.

Bharti AXA Health Insurance

Bharti AXA Health Insurance Company was established in August 2008. This health insurance company in India works with Bharti Enterprises, contributing 74% of the share and AXA with the remaining contribution of 26% share. Bharti Enterprises is one of the well-known business corporations in India and Bharti AXA is a global financial and wealth management company. This health insurance company is one of the top 10 health insurance companies as this is one of the most trusted and emerging health insurance companies in India. This best health insurance company is known for its smooth customer relationship, dedicated services and of course hassle-free claim settlement.

Let’s see some of the benefits provided by Bharti AXA health insurance company to its customers:

·         Health plan insurance provided by this best health insurance company doesn’t require any co-payment.

·         Certain plans provided by one of the best health insurance companies in India offer unlimited rent for a hospital room.

·         This one of the top 10 health insurance companies in India offers cashless hospitalization in more than 4500 network hospitals all over India.

·         Customers are provided with the flexibility to choose the plan accordingly and they can avail of comprehensive medical cover up to Rs. 1 Crore.

·         This best health insurance company offers a Lifelong policy renewal facility to its customers which is available in all the Bharti AXA health insurance policies

·         Not only you can get health insurance in India through this best health insurance company in India but also can avail tax saving benefits of up to Rs.55,000 under Section 80D, which also helps in making this company one of the top 10 health insurance companies in India.

Care Health Insurance

Care Health Insurance Limited company (which earlier was known as Religare Health Insurance Company Limited) has grown amazingly in a very short period and made its name as the best health insurance company in India. This company provides one of the best health insurance in India and that is how setting a benchmark in the insurance market in India. This one of the best health insurance companies in India provides an Incurred Claim Ratio of 93% on average. This best health insurance company is being regularly appreciated and promoted for its performance by the Fortis Hospitals.

Let us see some of the benefits offered by Care Health Insurance (earlier known as Religare Health Insurance):

·         This best health insurance company offers a plan to meet everyone’s requirements for example; individual & family floater plans, health insurance plans for diabetic patients and patients with hypertension, senior citizen plan, top-up plans, etc.

·         This one of the top health insurance companies in India offers cashless claim settlement within 2 hours in most cases.

·         Most of the plans offered by this one of the top 10 health insurance companies in India offer Annual-health check facilities to its policyholders.

·         A Care Health Care Heart plan is offered for any pre-existing health problems and cardiac check-ups annually, which adds this health insurance company to one of the top 10 health insurance companies in India.

Kotak Mahindra Health Insurance

Kotak Mahindra Health Insurance was formed as a subordinate of the Kotak Mahindra Bank to offer the General insurance sector to the customers including health insurance and other domains. One of these top 10 health insurance companies operates with more than 13 branches in PAN India to provide health insurance in India.

The customers opting for health plan insurance can change from a range of customised medical policies offered by this best health insurance company with the following features and benefits:

·         Health insurance in India provided by one of the top health insurance companies in India can be selected for covering basic emergency hospitalization and life-threatening illnesses like a benign tumour, serious liver diseases, loss of speech, etc.

·         The plans offered by one of these top 10 health insurance companies cover serious health conditions like heart attack, cancer, organ transplants and personal accidents.

·         This best health insurance company provides a secure shield plan under which this health insurance company in India provides loss of job benefits to the policyholder along with the educational benefits of children.

·         Some special coverage benefits provided by this one of the top 10 health insurance companies offer policies that include- Air ambulance cover, home nursing, compassionate visit, maternity cover, newborn baby cover, along with other benefits.

Max Bupa Health Insurance

Another one of the best health insurance companies in India is Max Bupa health insurance company in India provides all the essential benefits to the customers and supports them in their hard times with their policy benefits. This one of the top health insurance companies in India offers an Incurred Claim Ratio of 54% on average. This health insurance company in India offers its health insurance policies to individuals from all age groups.

Some of the coverage benefits offered by this Health Insurance Company in India are mentioned below:

·         Health plans Of this best health insurance company are custom made to offer health coverage to not only individuals as well as to families.

·         This one of the top 10 health insurance companies offers international health coverage for 9 major critical illnesses for their policyholders across 190 countries.

·         This one of the top health insurance companies not only provides health insurance in India but also provides cashless claim settlement within 30-minutes.

·         Also, this best health insurance company follows a provision to cover life-threatening illnesses of the policyholder under the Max Bupa Criticare health insurance plan.

National Health Insurance

The National Insurance Company Ltd. Is another one of the top 10 health insurance companies which offer health insurance in India and is a full government entity. This best health insurance company has been serving its customers for more than a century and provides health insurance coverage and has become one of the best health insurance companies in India. This one of the top health insurance companies in India has an Incurred Claim Ratio of 107.64% on average which automatically makes it one of the most appropriate health insurance companies in India. As this best health insurance company works under the government it automatically becomes the safest option to opt for.

 This one of the top 10 health insurance companies offers some benefits of buying health plans which are mentioned below:

·         National Insurance Company which provides health plan insurance and become one of the top 10 health insurance companies have more than 6000 hospitals offering cashless treatment to its policyholders.

·         Most of the health plans provided by one of the best health insurance companies in India cover the cost of treatment of the policyholder for 30 days before hospitalization and also 60 days after hospitalization respectively.

·         Some health plans of this best health insurance company also offer free health check-up benefit up to 1% of the Sum Insured if a policyholder completed 4 claim-free years

·         This one of the top 10 health insurance companies offers one of the most extensive family health plan insurance i.e. Parivar Mediclaim policy which offers health plan insurance coverage for up to 6 family members under a single plan.

·         National General Insurance Company which is one of the top health insurance companies in India offers Varishtha Mediclaim which provides health plan insurance to senior citizens.

New India Assurance Health Insurance

New India Assurance is a completely government-owned health insurance company in India which is also one of the best health insurance companies in India. This one of the top 10 health insurance companies has been in operations since 1919. This best health insurance company is well-known for offering its Mediclaim policy. The feature offered under this health plan insurance is that it provides different ratings for major metros. It had an Incurred Claim Ratio of 10.3.74% on average making it one of the top health insurance companies in India.

 Below are some of the features of one of the top health insurance companies in India providing health insurance in India:

·         This health plan insurance company provides a comprehensive health insurance plan for families offering protection to self, spouse and two dependent children.

·         The health insurance in India offers one cancer coverage plan i.e. New India Cancer Guard Policy.

·         For global coverage, this one of the top 10 health insurance companies offers a New India Global mediclaim policy.

Oriental Health Insurance 

Oriental general insurance is also a government-owned company providing health insurance in India and offers a wide range of health plan insurance in India. The impressive part of Oriental health plan insurance is that it doesn’t demand a pre-policy medical test till the age of 60 years, whereas other health plan insurance providers ask for a medical examination done if you are below 45 years of age. Some of the benefits of buying Oriental health plans are mentioned below:

·         The Incurred Claim Ratio of this one of the top health insurance companies in India is 108.80% on average.

·         Oriental Health Insurance company offers family floater as well as individual health plan insurance.

·         Most health plan insurance can be customized as per the customer’s needs.

·          You can have the benefits of health insurance in India with this best health insurance company with more than 4300 network hospitals where the policyholders can avail of cashless treatment.

SBI Health Insurance

SBI Health Insurance Co. Ltd is the last name on our list. This is a collaboration between the State Bank of India (SBI) and Insurance Australia Group. In this SBI holds a 74% share while the rest 26% share is held by Insurance Australia Group. This provider of health insurance in India operates in around 14,000 official branches all over the world. This health plan insurance company has an Incurred Claim Ratio of 52% on average.

 Below mentioned are some of the key benefits of SBI Health Insurance Plans:

·         A person can choose the amount of sum assured according to the preference between Rs.50,000 and Rs.5 lakhs

·         The applicants for this health plan insurance with a clean medical record do not require medical screening up to the age of 45 years

·         Most of the health plan insurance cover provided by one of the best health insurance companies in India covers pre and post-hospitalization expenses including the nursing expense.

·         A person can easily renew SBI health insurance plans through online mode.

Frequently Asked Questions

Q1. What is the meaning of health insurance?

Ans. Health insurance provides cover to an individual who buys health insurance for medical and surgical expenses in case of an emergency. If you want to avail the benefits of health insurance you need to pay premiums for it.

Q2. At what age should I buy health insurance?

Ans. Buying health insurance is a personal choice and age also depends on the person’s choice at what age the person wants to buy health insurance.

Q3. What are the eligibility criteria for buying health insurance?

Ans. For children, the age for buying health insurance starts from 90 days up to 18 years and for elders, the age is from 18 years up to 65 years.

Q4. Why should one buy health insurance?

Ans. One should buy good health insurance so that at the time of a medical emergency the person does not have to give away all of the savings he\she did all their life.

Q5. Does the health insurance allow cover for family also?

Ans. Yes, health insurance provides cover for spouses, children, dependent parents, etc. Many other relationships are also covered under health insurance.

Q6. Can one buy moa re than one health insurance plan at once?

Ans. Yes, depending on your different medical needs you can choose more than one health insurance plan.

Q7. How are the premiums for health insurance are paid?

Ans. The premiums for health insurance are paid monthly, yearly, half-yearly and quarterly also.

Q8. What is the maximum amount of coverage is provided in health insurance?

Ans. The coverage amount of health insurance varies from company to company that is providing health insurance.