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Top 5 Indian Health Insurance Companies

Updated On Mar 06, 2024

Health insurance purchase may not be a compulsion in India, but it is a requisite. An ideal health insurance policy not only helps an individual strengthen their financial backing but also maintains their peace of mind in an adverse medical situation. If you too lack health insurance as of now, make sure you analyze your specific medical needs and buy an affordable policy to support you in your time of need. Since there are many health insurance companies offering a vast range of health insurance policies with extraordinary coverage features, it would be easy for you to find one. However, for your ease, below mentioned is a list of the top 5 health insurance companies to choose your policy from in the first place.

List of Top 5 Health Insurance Companies In India based on CSR

Here are the top 5 health insurance companies you can rely on for your health insurance purchase. Note that the list is made based on CSR or Claim Settlement Ratio. If new to the concept of CSR, learn that it refers to the total number of claims settled by the health insurance company.

The list comprises:

Health Insurance Companies

Claim Settlement Ratio

Iffco Tokio

96.57%

Magma HDI

90.00%

New India Assurance

92.68%

Oriental Insurance

94.28%

Bajaj Allianz

92.24%

1. Iffco Tokio - Iffco Tokio General Insurance Company is one of the large private sector general insurance companies. It has a claim settlement ratio of 96.57%. Incorporated in the year 2000, Iffco Tokio provides a wide range of plans including Family Health Protector, Individual Health Protector Policy, Corona Kavach Policy, Corona Rakshak Policy, Individual Medishield Policy, and more.

2. Magma HDI - Magma HDI General Insurance Company is one of the small private sector general insurance companies. It has a claim settlement ratio of 90.00%. A joint venture between Magma Fincorp Limited and HDI, the company provides a vast array of plans including OneHealth Insurance Policy, Aarogya Sanjeevani Policy, and Corona Kavach Policy.

3. New India Assurance - New India Assurance is one of the public sector general insurance companies. It has a claim settlement ratio of 92.68%. Having completed its 100 years recently, the health insurance company offers a wide series of policies including Floater Mediclaim, Mediclaim Policy, Corona Kavach Policy, Senior Citizen Mediclaim Policy, and more.

4. Oriental Insurance - Oriental Insurance is a public sector general insurance company. It has a claim settlement ratio of 94.28%. Founded in the year 1947, Oriental Insurance has a massive policy range to offer. Some of the popular plans include the Happy Family Floater Policy, Individual Mediclaim Policy, and HOPE (Health of Privileged Elders).

5. Bajaj Allianz - Bajaj Allianz General Insurance Company is one of the large private sector general insurance companies. It has a claim settlement ratio of 92.24%. Having its headquarters in Pune, India, the company provides a vast range of policies that include Silver Health, Tax Gain, Surgical Protection Plan, and more.

Conclusion

Now that you have a list of the top 5 health insurance companies, make sure you end up buying the ideal policy as per your needs. Do not forget to consider all your precise needs, premium, network hospital list as well as the claim settlement ratio so that you do not face disappointment at the last moment.

You May Also Like to Read:

Here's Presenting a List of All Health Insurance Companies in India

Health Insurance Claim Settlements-Know The Process Here

Types of Health Insurance Policies Available in India

Disclaimer: This article is issued in the general public interest and is meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive and should research further or consult an expert in this regard.

 

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