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Top 10 Best Health Insurance Companies in India

Updated on May 24, 2020 , 88856 views

Initially, when thinking of buying health insurance, the first thing people look for are the health Insurance companies. These are the companies offering various health insurance plan that provide a medical cover to people for their doctor visits, hospitalisation expenses, surgery fees, medicine cost, nursing allowance, hospital room rent etc. One small accident can make you realise the importance of medical insurance. But do you want to wait for it to happen? No, right? Therefore, having a health insurance policy from a reputed health insurance company is essential for all, rich as well as poor, young as well as old, male as well as female. It keeps you protected from financial burden when diagnosed with an illness. You can easily file a health insurance claim and get reimbursed for your medical expenses.

Medical Insurance - Things to Consider

Top-Health-Insurance-Companies

There are various types of health insurance policies available in the market. For each one of them the health quote, co-payment, limits of coverage and illnesses covered varies. So, when you choose a medical insurance plan, it is advised to consider the health insurance companies list. For your convenience, we have listed top 10 health insurance companies in India.

Top 10 Best Health Insurance Companies in India

Want to buy health insurance? Take a look at some of the best health insurance companies in India.

1. Apollo Munich Health Insurance Company Limited

HDFC ERGO Health Insurance Company was previously known as Apollo Munich Health Insurance. It is a joint venture of HDFC Limited and ERGO International AG. The company has an exceptional record of incurred claim ratio of 62% and it has brought additional benefits such as lifelong renewability options and portability in the insurance plans.

2. Star Health & Allied Insurance Company Limited

Started in 2006, Star Health is the India’s first standalone health insurance provider. The company has an excellent service with innovative products, which caters individual, families and corporates. Star Health company provides sterling services in the personal accident and overseas Travel Insurance.

It is predominantly into Bancassurance, and has a well-established relationship with various banks. The insurer has an incurred claim ratio of 63%. Currently, the company has 11000+ employees and 550+ branches across the country.

3. Max Bupa Health Insurance Company Limited

Max Bupa Health Insurance Company is a joint venture between Max India Limited and Bupa Group. The company has smart top-up options to boost your coverage. With 4000 Max Bupa network hospitals, you can avail the offer of cashless treatment. Max Bupa has an incurred claim ratio of 54%.

4. ICICI Lombard General Insurance Company Limited

The company came into the limelight after the collaboration with ICICI Bank Limited and Fairfax Financial Holdings Limited. The insurance company offers a robust product portfolio that includes health, motor, car, travel and Home insurance.

ICICI general insurance secures against unexpected events in life. Therefore, you can avail protection solutions for business, personal and project liabilities in rural as well as urban areas across the country.

5. Religare Health Insurance Company Limited

Religare is a joint venture between Religare Enterprise Limited, Union Bank of India and Corporation Bank. It is a specialised health insurer offering health insurance services to employees of corporate and individual customers.

The company offers products such as health insurance, critical illness, personal accident, International Travel Insurance along with group health insurance and group personal accident insurance for corporate. The company has tremendous growth and has an incurred claim ratio of 55%.

6. Cigna TTK Health Insurance Company Limited

The company focuses to improve health, well-being and peace of mind. It makes health more affordable by partnering with providers that offer quality and cost-effective care.

The main motto of Cigna TTK is to provide comprehensive health care coverage and serve customer, client, patient and the community.

7. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company is a joint venture of Bajaj Finserv Limited and Allianz SE. With Health-Guard, Silver Health and Star Package, the company was the first to provide TPA services with additional benefits.

The company makes a cashless claim settlement facility in more than 6500 hospitals. It has an incurred claim ratio of 85% and it settles cashless claims within 1 hour.

8. New India Assurance Company Limited

New India Assurance Company Limited is a multinational general insurance company owned by the Government of India. It offers a unique feature for the health insurance policy and is famous for its mediclaim policy.

The insurance company is operating in 28 countries and deals with non-life businesses. It has 1200+ cashless hospitals with an incurred claim ratio of 95.39%.

9. Oriental Insurance Company Limited

It is a government-owned general insurance company offering health insurance products in India. Anyone above the age of 60 years doesn’t have to provide a medical test. Oriental Insurance Company has tie-ups with more than 4300 network hospitals which provides cashless treatment. The company has an incurred claim ratio of 108.80%.

10. National Insurance Company Limited

National Insurance Company is a government entity serving for more than 100 years. It offers free health check-up benefit up to 1% of the sum insured after the completion of four claim years. With 1730+ offices and more than 13000+ skilled employees, the company has a strong presence in India and Nepal.

National Insurance has an incurred claim ratio of 109.94% and it covers up the losses with other insurance products.

Conclusion

So, these are the top 10 health insurance companies that you must consider before buying medical insurance. Usually, the best medical insurance companies offer various policies with different terms and conditions. It is advised to choose a medical insurance plan that is best suited for you and your family (consider family floater Plans if buying for family). Therefore, don’t wait for any misfortune to happen. Compare health insurance plans, choose the best-suited plan from a reputed health insurance company and live insured!

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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B. Chineya, posted on 21 Oct 19 8:39 AM

Good service

Ratikan Bamani , posted on 27 Mar 19 12:50 PM

Update new plans

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