Figuring out which Indian health insurance company is the best involves looking at things like how often they successfully pay out claims, how good their customer service is, how financially stable they are, how many hospitals they work with, what extra perks they provide, and much more. It's like ...read more
While you can find a range of top health insurance companies in India, which company can cater to your individual/family’s needs is where you need to consider some important pointers. Let’s deep-dive into those details and make the insurance company selection process a cakewalk for you.
Let’s take a look at the top health insurance companies along with their key features -
Aditya Birla Health Insurance Company operates as a subsidiary of Aditya Birla Capital Ltd. Its primary mission is to simplify the provision of general insurance services for its valued customers.
The company has established a strong reputation, not only within India but also among insurance providers across regions such as Southeast Asia, the Middle East, and South Asia.
|Available at 8,700+ hospitals across 650 Indian cities
|Access to Fitness Centers
|Policyholders can use 800+ fitness centres, yoga, gyms, and so on
|Discounts on medicines at 2,300+ pharmacies in 250+ cities
|In-Patient Ayush Treatment Cover
|Coverage available as per the chosen plan
|Additional Wellness Facilities
|Access to fitness assessment centres, wellness centres, and diagnostic centres, alongside hospitals
Care Health Insurance Limited has made remarkable strides in the Indian insurance market, establishing itself as a benchmark in a relatively short period. The company offers a wide range of insurance plans to cater to diverse needs, with these plans including individual and family floater options, health insurance designed for diabetes and hypertension, senior citizen plans, and top-up plans.
One of its standout features that makes it one of the top health insurance companies in India is the speedy claim approval process, with most cases receiving cashless approval within just 2 hours.
Additionally, many of its plans provide insured members with the benefit of an annual health check. For those with pre-existing health conditions and a need for regular cardiac check-ups, the Care Health Care Heart plan offers a specialised solution.
|Diverse Plan Options
|Quick Claim Approval
|Cashless claim approval typically within 2 hours
|Annual Health Check Facility
|Most plans include an annual health check for insured members
|Specialised Heart Plan
|The Care Health Care Heart plan covers pre-existing health ailments and offers annual cardiac check-ups
Niva Bupa Health Insurance Company Limited stands out as a prominent standalone Indian health insurance company. With an impressive Incurred Claim Ratio (ICR) of 56.09% for the fiscal year 2020-2021, it has established a strong presence in the market. Niva Bupa Health Insurance is committed to offering health insurance policies catering to individuals of all age groups.
Key benefits of Niva Bupa health plans include access to cashless hospitalisation services at a vast network of over 7,600 hospitals across India. Additionally, the company is known for its swift claim authorisation process, with cashless claims typically approved within a mere 30 minutes.
For those seeking coverage for life-threatening illnesses, the Niva Bupa Criticare health insurance plan provides a comprehensive solution as well.
|Available at 7,600+ network hospitals across India
|Quick Claim Authorisation
|Cashless claim authorisation provided within 30 minutes
|Critical Illness Coverage
|Niva Bupa Criticare health insurance plan covers life-threatening illnesses
Manipal Cigna Health Insurance Company, though a relatively new entrant (launched in 2014), has quickly made its presence felt in the Indian insurance market and soon made the list of top health insurance companies in India. The Incurred Claim Ratio (ICR) of the company for the fiscal year 2020-2021 stands at an impressive 61.13%.
The company offers a range of health insurance plans that cater to diverse needs, including top-up health plans, critical illness plans, accidental care coverage, lifestyle plans, and more. The sum insured for these plans varies widely, spanning from Rs. 0.25 lakh to a substantial 10 crores. What sets Manipal Cigna apart is its commitment to customisation, allowing customers to tailor plans according to their unique requirements.
One notable offering is its comprehensive critical illness coverage, which extends protection for nearly 30 major illnesses. Additionally, many of their medical plans include the valuable feature of 100% sum restoration of the sum insured.
Furthermore, policyholders can benefit from the ease of tracking health insurance claims online, adding convenience to their healthcare journey.
|Diverse Plan Options
|Top-Up Health Plans, Critical Illness Plans, Accidental Care, Lifestyle Plans, and More
|Varied Sum Insured
|From Rs. 0.25 lakh to 10 crores
|Most health plans are customisable to suit individual needs and preferences
|Comprehensive Critical Illness
|Extensive coverage for nearly 30 major illnesses
|Many plans offer 100% sum restoration of the sum insured
|Online Claim Tracking
|Convenient online tracking of health insurance claims
HDFC ERGO Health Insurance plans are offered by HDFC ERGO General Insurance Company Limited (founded in 2002), a joint venture between India's HDFC Ltd. and Germany-based ERGO International AG. These health insurance plans provide comprehensive medical coverage to individuals, families, and women at competitive prices.
HDFC ERGO General Insurance is among the top Indian health insurance companies and boasts an efficient claim process, settling cashless claims within 2 hours. Remarkably, it achieved an impressive incurred claim ratio of 97.47% in the year 2021-22.
|Many plans offer unique benefits like Value Buy, Secure Benefit, Reduced Premium Benefit, Protect Benefit, Multiplier Benefit, and more, enhancing the value for policyholders
|In-House Claims Team
|The insurance provider has an in-house claim settlement team that efficiently processes cashless claims within 2 hours
|24x7 Customer Support
|HDFC ERGO General Insurance Company provides round-the-clock customer assistance for policyholders
Liberty General Insurance Limited commenced its operations in 2013 as a collaboration among Liberty Mutual Insurance Group, DP Jindal Group, Liberty City State Holdings PTE Ltd., and Enam Securities. The Indian health insurance company has a strong presence across more than 23 states in India and boasts a network of over 5,000 hospitals.
|Unique Loyalty Perk Benefits
|Sum assured increases by 10% to 100% for every claim-free year
|Policyholders enjoy a 15-day free-look period to cancel the policy post-purchase
|Wider Health Protection Coverage
|Health plans are designed to offer comprehensive coverage with higher sum assured options
|Preventive Care Facilities
|Unique features include preventive care services like first medical opinion and Live health talk
United India Insurance Co. Ltd., the result of a merger of several Indian insurance companies, stands as one of the oldest general insurance companies in India. Headquartered in Chennai, the company traces its roots back to 1938.
As one of the top health insurance companies in India, United India Insurance is known for offering affordable and personalised health plans to its customers. The company has also received ICRA accreditation, reflecting its high solvency margin ratio and claim-paying ability.
|Cashless Medical Treatment
|Access to cashless medical treatment in more than 7,000 hospitals across the country
|Free Medical Check-Ups
|Policyholders can avail free medical check-ups after completing 3 consecutive claim-free years
|5% family discount on the premium for self, spouse, and dependent children under one plan
|Free Look Period
|A 15-day free look period is provided from the date of policy inception for policy analysis and decision-making
Star Health & Allied Insurance Company provides comprehensive medical insurance options tailored for both individuals and families, offering coverage of up to INR 2 crores. Founded in 2006, the company is known for its health insurance plans that offer comprehensive coverage at attractive rates.
Here are the key features and benefits of Star Health insurance plans -
|In-House Claim Settlement Procedure
|Star Health has its own streamlined process for handling cashless hospitalisation, ensuring efficient and hassle-free claims processing
|Specialised Coverage for Diabetes and HIV+
|Star Health insurance offers specialised products designed to cover individuals with Diabetes and HIV positive, addressing their unique healthcare needs
|Extensive Network of Hospitals
|With a vast network of over 13,000 hospitals, policyholders have access to cashless medical treatment that enhances convenience and accessibility
|Lifetime Renewability Option
|Most Star Health insurance plans provide the valuable benefit of lifetime renewability, allowing you to maintain coverage throughout your life
|Customisable Top-up Health Insurance
|Star Health also offers customisable top-up health insurance plans that can be tailored to meet your specific healthcare requirements
Reliance General Insurance Co. Ltd. is one of the top health insurance companies in India, with a wide-reaching presence spanning 139 offices throughout the country as well as international operations. The company caters to a diverse clientele, serving individuals, corporates, and SMEs.
Reliance health insurance plans are easily accessible thanks to their online purchase and renewal options.
Here's a breakdown of the key features and benefits offered by Reliance health insurance plans -
|Convenient Premium Payment Options
|Reliance offers flexibility in premium payment, allowing you to pay online using methods like debit cards, credit cards, and net banking for the utmost convenience
|Restoration of Sum Insured
|In the event of exhaustion of the base sum insured, Reliance health insurance plans offer restoration. This ensures continued coverage when needed most.
|Coverage for Pre-Existing Diseases
|Pre-existing diseases are covered after a waiting period of 4 years
|Health Check-Up Expense Reimbursement
|Most Reliance health insurance plans reimburse health check-up expenses after completing 4 claim-free years, promoting proactive healthcare management
Zuno (formerly Edelweiss) General Insurance is another highly esteemed, top health insurance company in India, having the trust of millions of customers due to its association with the Zuno (formerly Edelweiss) Group. The company has earned recognition through awards like the SAP Process Innovation Awards.
Here are the key benefits that policyholders can enjoy when purchasing Zuno health insurance plans -
|The coverage of Zuno (formerly Edelweiss) health insurance policies includes in-patient care, pre and post-hospitalisation expenses, critical illnesses, accidents, and various diseases
|Flexible Sum Insured (SI)
|Policyholders can choose a sum insured (SI) that suits their requirements, with options ranging from 1 lakh to 5 crores
|Zero Deposit and Guaranteed Bed
|Zuno (formerly Edelweiss) offers the convenience of zero deposit and ensures guaranteed bed availability for policyholders
|Zero Discharge Time for 14 Medical Procedures
|In the majority of hospitals, 14 medical procedures, including maternity, gallbladder removal, and cataract surgeries, are characterised by zero discharge time, which improves the overall healthcare process
While health insurance companies offer a range of features and benefits, finding the right fit depends on individual needs and health objectives. For instance:
When determining the best health insurance company for you, consider the following key factors -
Check out some frequently asked questions related to the top health insurance companies in India:
Ans: A few Indian health insurance companies offer diabetes health plans that can cover insulin expenses. It's advisable to explore all the options or talk to an insurance expert who can guide you towards a plan best suited to your individual needs.
Ans: Yes, you have the right to port your health insurance policy from one insurer to another without losing the accumulated benefits. The Insurance Regulatory and Development Authority of India (IRDAI) allows policyholders to transfer their health insurance policy to another provider of their choice.
Ans: Certain health insurance companies do provide coverage for dental treatment. Keep an eye out when buying a plan or talk to your insurance provider for more clarity regarding such specific needs.
Ans: Yes, many health insurance companies offer cancer treatment coverage. However, it is recommended to go for comprehensive cancer insurance in India.
Ans: Kidney transplantation or failure treatment is covered under critical illness health insurance policies. However, make sure that you declare such conditions at the time of purchasing a specific plan for the insurance expert to guide you towards the best-suited one.
Ans: While most health insurance providers primarily cover in-patient hospitalisation expenses, several Indian health insurance companies do offer coverage for outpatient department (OPD) expenses.
It's essential to review individual policy benefits to see if they include daycare procedures, ambulance charges, domiciliary treatment, or other OPD-related benefits.
Ans: Top health insurance companies in India are usually approved by the Insurance Regulatory and Development Authority of India (IRDAI). Additionally, you can gather information about the insurer's reputation by checking factors such as Incurred Claim Ratio (ICR), claim settlement ratio (CSR), and customer reviews.
Ans: Most health insurance companies in India offer cashless hospitalisation at their network hospitals. However, it's always advisable to confirm this feature with the insurer before purchasing a specific policy.
Ans: Selecting the best health insurance company involves the assessment of factors like coverage, reputation, network hospitals, options available, high Claim Settlement Ratio (CSR), efficient claim settlement processes, and policy details.
Ans: CSR (Claim Settlement Ratio) is an essential indicator of an insurance provider's claim settlement but shouldn't be the sole deciding factor. You should consider other factors such as the number of network hospitals, cashless hospitalisation, Incurred Claim Ratio (ICR), claim processing time, and more when making your decision.
Ans: Your health insurance policy will provide contact information for the insurance company. You can save its customer service number and email ID or use any designated mobile app if available. Alternatively, you can visit a physical office or service centre nearest to you.
Ans: Cashless hospitalisation or settlement is typically offered only at network hospitals. If you receive treatment at a non-network hospital, you will be reimbursed for the incurred expenses as per the terms of your policy.