Top Companies Offering Health Insurance Plans In India
Updated On Aug 06, 2021
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Health insurance policies are offered by various general insurance companies in India. Health insurance is one of the widely bought products of the insurance companies that offers medical compensation for treatments incurred during hospitalization in case of an emergency. It acts as a financial aid and shield towards an unforeseen event. Several plans are available in the insurance market to choose from, at an affordable cost. Based on certain factors like your age, medical history, features, financial budget, etc. you can choose and buy a suitable health insurance policy for yourself as well as your family.
Most of the companies offer similar standard features and benefits but there are certain firms which stand out in the competition due to their innovative design and technology. An insurance company with a high claim settlement ratio is more suitable as it has a good track record of settling claims of the customers on time and without any hassles. The selection of the suitable health insurance firm also depends on a lot of factors which should be kept in mind.
Factors To Be Considered While Selecting An Insurance Provider
Let us look at some of the key points that must be kept in mind while choosing a health insurance firm:
- You must look for a firm that has a variety of options to choose from. Various types of health insurance plans like maternity benefits, senior citizen plans, etc. should be offered by the company.
- The company should have a wide network of linked hospitals to provide cashless claim benefits to its policyholders at the time of an emergency.
- You must know the claim settlement process of the insurance provider to avoid confusion at the time of claim settlement and the firm must have a provision of 24X7 customer support to deal with the grievances of the customers.
Top Companies Offering Suitable Health Insurance Policies In India
Following are some of the top health insurance providers in India that are known for their quality services and comprehensive policies:
1. Aditya Birla Health Insurance
This health insurance company has a global reputation for its services in the health insurance market. It has a network of around 6000+ linked hospitals which provide cashless treatments to the customers and it includes the medical costs of AYUSH treatments. It also offers its policyholders the access to around 800 fitness gyms and yoga centres thus, promoting a healthy lifestyle.
2. Bajaj Allianz Health Insurance
This health insurance company has beneficial insurance policies for all age groups of people. It has a network of 6,500+ hospitals that ensure cashless claims and the company incurred a claim settlement ratio of 92.24% in the FY 2019-20. The policies by Bajaj Allianz health insurance cover individuals, family, senior citizens, etc. A Global Personal Guard health plan is available for international coverage of the policyholders. Also, it settles the claim in 60 minutes for the customers.
3. Bharti AXA Health Insurance
It is one of the renowned companies in India and is a trusted emerging insurance firm. In most of its health insurance plans, there is no requirement of co-payments and it offers a choice to its customers to choose plans with sum assured up to Rs. 1 Crore. Alongwith the tax reduction benefits under Section 80D of the Income Tax Act, the policyholders get the benefit of lifelong renewability of the policies. The company has a network of 4,500+ linked hospitals for ensuring cashless claim benefits and it incurred a claim settlement ratio of 76.01% in the FY 2019-20.
4. Care Health Insurance
It is one of the tremendously growing insurance firms in the subcontinent and is widely known for its comprehensive health insurance policies. The company incurred a claim settlement ratio of 95.47% in the FY 2019-20 and has a network of 7,400+ hospitals for providing cashless claims to its policyholders. It offers cashless claim approvals within 2 hours and offers facilities like annual health check-up, cardiac check-ups, etc.
Considering the above mentioned list of top health insurance providers, you can choose the most suitable insurer for yourself and compare their policies. You can research more on the insurance providers and their unique features for the customers. Make sure that you read the policy-related documents carefully.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.