Having health insurance in India is no more a luxury but a necessity for every person, irrespective of age and gender. With rising medical expenses and increasing hospitalization instances, health insurance policies offered by the top 10 health insurance companies in the country do play a significant role in providing people with top quality medical treatments, hospital stays and meeting costly medication.
Health insurance can be termed to be an insurance product which comes with variety of benefits and riders, since there are available numerous variants. To ensure getting the best available health insurance plan, it is essential to compare the top companies in the country.
You and your whole family are assured by the top companies of having a prosperous and healthy future. There will be no need to worry about anything related to medical attention required in case of emergency and bills that follows with a valid health insurance policy. We have managed to come up with the top 10 health insurance companies in the country, which is superior in some specific parameters.
According to claim settlements and customer review these are best Top 10 Health insurance companies in India.
Apollo Munich Health Insurance Company Limited:
This joint venture between Munich Health and Apollo Hospitals Group boasts of having an outstanding record and is favored by healthcare experts.
It provides variety of insurance products to meet health needs of customers. The existing policies carry in them lifetime renewals and portability. It has 4500+ branches across the country and its incurred claim ratio in 2017-2018 is 62.47%.
1. It offers 11 plans for individuals like optima restore, Easy Health, Health wallet, energy, iCan cancer Plan, Day2Day care Silver, Optimal Vital, Dengue Care, optima cash, optima super.
2. There are 5 plans for family like optima restore, Easy Health, Health wallet etc.
3. They have special plans for diabetic and cancer patients as well.
4. Critical advantage rider addon for critical diseases.
5. 15 days money back refunded guaranteed if not satisfied.
6. There is a Wellness program in which you get health coach for customized diet and exercise plans and and 2 health checkup per year.
7. Long list of hospital network all over India with cashless facility.
1. Wellness program is not free, its your choice to opt in or not.
2. Waiting period of 2 years in mostly diseases.
3. Plans are Costlier than govt insurance companies.
4. Many negative reviews on mouthshut and there is no response from company.
Star Health & Allied Insurance Company Limited:
This joint venture between few veterans, Oman Heath Insurance Co. and ETA Ascon Group offers health insurance, travel insurance and person accident insurance. It does offer variety of insurance products targeting Diabetes and HIV patients. It has 6000+ branches and its incurred claim ratio in 2017-2018 is 60.51%.
Max Bupa Health Insurance Company Limited:
This joint venture between Bupa Finance PLC and Max India Ltd. is considered to be among the very best in the country offering top class service. It deals in different types of insurance products and caters to all income groups and age categories. It has over 3500 branches in the country and its incurred claim ratio in 2017-2018 is 50.19%.
ICICI Lombard General Insurance Company Limited:
This company is known to provide customers with the very best health benefits among top companies in the country. It provides complete expense coverage that is incurred in any medical emergency. Also is offered free health check-up, emergency ambulance, cashless hospitalization, tax benefits, free look period, etc. Its incurred claim ratio in 2017-2018 is 68.26%.
Religare Health Insurance Company Limited:
This company assures of safeguarding the family and the policy holder during any medical emergency. This joint venture between Union Bank of India, Corporation Bank and Religare Enterprises Ltd., has managed to set a tremendous benchmark for all other companies in this segment. It has over 4500 branches spread throughout the country and its incurred claim ratio in 2017-2018 is 51.97%.
Cigna TTK Health Insurance Company Limited:
This joint venture between TTK Group and Cigna was launched in 2014. Although the latest one to enter the segment, it has managed to get into the top 10 companies. It deals in different types of products and meets the growing and diverse health insurance requirements of families and individuals. It has 4000+ branches and its incurred claim ratio in 2017-2018 is 46.29%.
Bajaj Allianz General Insurance Company Limited:
This joint venture between Allianz SE and Bajaj Finserv does provide some of the best health products like Silver Health, Star Package and Health Guard. It was the very first provider to provide captive TPA services combined with specific benefits. It has over 5700 branches and its incurred claim ratio in 2017-2018 is 77.61%.
New India Assurance Company Limited:
Established way back in 1919, it is considered to be a fully governed owned firm. In India, there are about 2097 offices and operates in over 22 nations across the globe. It offers numerous products at very low price and is popular for Mediclaim policy. It is definitely among the best and reliable. Its incurred claim ratio in 2017-2018 is 103.19%
Oriental Insurance Company Limited:
This government owned company was established in 1947. It offers different types of healthcare products for customers. All products have been designed to cater to the requirements of urban and rural India. Medical examination is not necessary until age 60. It has more than 4300 branches spread across the lengths and breadths of the country and its incurred claim ratio in 2017-2018 is 113.86%.
National Insurance Company Limited:
This company is fully government owned and offers variety of insurance products like health, personal, fire and motor insurance. It offers the very best health insurance coverage. They have over 6000 branches and its incurred claim ratio in 2017-2018 is 115.55%.
- There are few diseases which are covered after 1 or 2 years of insurance and it depends on insurance company. Always read the documents before taking final decision.
- Use port option if you want to change insurance company after few years. You will get all health issue covers from day one in new insurance company. Policy port can only be done before 45 days of expiry.
- Always discuss what exactly is covered in policy like which rooms are covered during hospitalisation. Check everything in detail.
Comparing the different health insurance companies and plans can help you to choose the best one. I hope you like the article, do comment and share it.