In the post-pandemic era, people are consciously investing in health insurance policies to avoid financial burdens and stress during medical emergencies. A health insurance policy provides coverage for medical treatments and services, however, there are many players in the health insurance sector offering a wide range of insurance plan options to cater to different needs of customers.
So when you plan to purchase a health insurance policy, you should look for the best health insurance company in India so you stay assured that you are secured in times of medical emergency. Check out the list below to learn about the best health insurance companies in India and their popular health insurance plans:
- Bajaj Allianz
The Bajaj Allianz Health Insurance Company Limited is a joint venture of Bajaj Finserv and Allianz SE. It is one of the largest private insurance companies in India providing healthcare insurance coverage. Some of the popular plans of Bajaj Health insurance are the Health-Guard plan, Extra Care plan, etc. Here is what makes Bajaj Allianz one of the best health insurance companies in India.
- Bajaj Allianz has a wide network of 8000+ hospitals where you can avail cashless settlement benefits.
- It offers health insurance plans that also cover Homoeopathic and Ayurvedic treatments.
- Bajaj Allianz promises a 60-minute claim settlement procedure via their in-house claim settlement department.
- Convalescence payout benefits of up to ₹7,500.
Reliance General Insurance Company Limited is another successful venture of Reliance Capital offering insurance plans in health, travel, and other categories. The company has around 135+ offices in India to deliver incomparable services at affordable rates. Some of the popular plans of Reliance General Insurance are critical illness plans, health gain plans, etc. Here is what makes Reliance one of the best health insurance companies in India.
- Reliance has a network of 8,500+ hospitals enabling seamless accessibility of medical treatments and services.
- The insurance policy plan offers a special rider called Coronavirus Cover to eliminate financial burden and stress in case of COVID19 related treatment.
- Around 98% of claims have been efficiently settled by the company.
- HDFC ERGO
ERGO International and HDFC Limited have collaborated to commence HDFC ERGO General Insurance Company Limited to render retail as well as customised insurance plans in various categories as per the needs of the customers. The popular plans of HDFC ERGO are Health Medisure Super Top Up Insurance, HDFC Suraksha, etc. Here is what makes HDFC ERGO one of the best health insurance companies in India
- Complimentary consultations via teleclinic facility to its policyholders via their mobile applications.
- HDFC ERGO has a network of 13,000+ hospitals where policyholders can avail of cashless settlement benefits.
- The health insurance plans have no age-based restrictions which are especially beneficial for senior citizens.
- TATA AIG
TATA group entered into the insurance industry two decades ago in collaboration with American International Group, intending to create better tomorrows for their customers with a relentless determination to meet customers’ expectations. The company offers various health insurance plans like Wellsurance Woman, Mediprime, etc. Here is what makes TATA AIG one of the best health insurance companies in India
- A network of 7,000+ hospitals in India to enjoy cashless claim settlements.
- Around 94.21% of claims have been efficiently settled by the company with an incurred claim ratio of 68%
- Claim-free years are rewarded with a cumulative bonus that extends the validity of the policy plan without any additional premium payment.
- Star Health
Star Health and Allied Insurance Company Limited is a standalone firm in the market offering health insurance products for your family and employees. The company aims to safeguard the savings of their policyholders from medical bills by offering insurance plans like Star Cardiac Care Insurance Policy, Family Health Optima, etc. Here is what makes Star Health one of the best health insurance companies in India
- Star Cancer Care Insurance Policy is one of a kind, which is not offered by any other insurance company in India.
- Star Health has aligned itself with 11,000+ hospitals to enable cashless settlement facilities for their policyholders.
- The company promises claim settlement within 2 hours with their in-house claim settlement department.
How to Choose an Ideal Health Insurance Company?
Apart from these five best health insurance companies in India, many other insurance vendors in the market offer health insurance plans. However, one must consider the below-mentioned pointers to find an ideal health insurance company for themselves:
- Types of Insurance Plans – Before purchasing an insurance plan, one should identify their expectations and needs. Different types of health insurance plans serve different purposes, therefore, the first and foremost thing is to select the type of insurance plan that aligns with your expectations and needs.
- Compare the Insurance Plans – After selecting the type of insurance plan, compare and analyse the coverage benefits like hospitalisation expenses, waiting period, etc. with the premium rates of different insurance policies to derive an ideal insurance plan.
- Check the Network Hospitals – Insurance companies offer a cashless claim settlement feature with their network hospitals. With non-network hospitals, medical bills are generally reimbursed by the insurance company at a later stage. To avoid financial hassle during medical emergencies, it is important to check the closest network hospitals of different insurance companies.
- Claim Settlement Procedure – Analyse the claim settlement ratio and procedure to avoid any hassle or arguments in future. A high claim settlement ratio and a quick online procedure ensure that the company will act as financial aid during tough times.
The Indian market has a huge variety of health insurance options rendered by many health insurance companies. Some companies sell retail insurance plans, while some tailor them as per customers’ requirements. If you are planning to purchase a health insurance plan, look for the best health insurance company in India and select the insurance company that fulfils your expectations and needs.
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