Health insurance is an essential component to ensure financial security during medical emergencies, especially with the ever-increasing medical expenses. A good health insurance policy provides financial protection against unexpected medical bills and enables you to get timely medical attention when required, without worrying about costs.
In India, there are several good health insurance companies that offer a range of comprehensive insurance policies. In this article, we will take a closer look at some of the best health insurance companies in India to help you make an informed decision.
Best health insurance companies in India: Overview
In today's world, medical emergencies are unpredictable and can hit anyone at any time. To avoid the financial burden, health insurance policies help to cover the expenses of medical treatment. With the increasing demand for health insurance policies, there are various insurance companies operating in India. Choosing the best health insurance company that suits your needs can be overwhelming. Let us look at some of the best health insurance companies in India. But before that know the things you must consider when choosing a health insurance from any insurance company.
List of the best health insurance companies in India
Here’s a list of some of the best health insurance companies partnered with Bajaj Finance that offer affordable health insurance in India.
Aditya Birla Health Insurance
One of the best health insurance providers, Aditya Birla offers a range of health insurance policies, including critical illness cover, personal accident cover, cancer cover, and more. Aditya Birla Health Insurance plans also cover pre-existing diseases such as Asthma, Blood pressure, Cholesterol, and Diabetes (ABCD). With an extensive network of over 10,000 network hospitals, Aditya Birla offers the benefit of cashless hospitalisation. They have a 96% claim settlement ratio, indicating prompt and hassle-free claim settlements.
Bajaj Allianz General Insurance
Bajaj Allianz offers a wide range of health insurance policies for individuals, families, senior citizens, and more. The Bajaj Allianz General Insurance has over 7,000 network hospitals and offers coverage for pre-existing diseases, maternity expenses, and a host of other benefits. You can also avail a host of add-on covers to enhance your health insurance policy for better coverage.
Care Health Insurance
Formerly known as Religare Health Insurance, Care Health Insurance offers affordable health insurance policies with extensive coverage for critical illnesses. The company has over 7,400 network hospitals and offers comprehensive medical coverage. They offer health insurance policies for individual and family needs, where family policies come with benefits like no age capping and additional discounts on the premium payments.
ManipalCigna Health Insurance
ManipalCigna Health Insurance offers a range of innovative health insurance products with worldwide coverage. They have over 10,000 network hospitals in India and offer a range of benefits such as personal accident cover, critical illness cover, and more.
Niva Bupa Health Insurance
With an impressive 98% claim settlement ratio, Niva Bupa is one of the most reliable health insurance companies in India. They offer comprehensive coverage for medical expenses and have an extensive network of over 8,500 hospitals across India. Their policies also offer additional features like wellness programs, health coaches, and more to enhance the overall well-being of the individual.
How to choose a health insurance company in India?
Choosing the best mediclaim insurance company in India can be challenging. Here are some factors to consider while making your choice:
Network hospitals:
Check the list of hospitals that come under the network of the insurance company to ensure hassle-free cashless treatment.
Claim settlement ratio:
It is important to choose an insurer that has a high claim settlement ratio in health insurance, indicating prompt, and hassle-free claim settlements.
Premium amount:
Ensure the premium amount is reasonable, and the coverage matches the amount paid. It is imperative to find a health insurance policy that offers sufficient coverage for the value of the premium paid.
Features and benefits:
The policy should offer features that cater to your specific needs, such as coverage for pre-existing diseases, add-on benefits, etc.
Key features of the best health insurance companies
Here are some key features to consider when looking for the best health insurance companies in India:
Comprehensive coverage
A good health insurance company must provide a comprehensive range of coverage, including outpatient care, diagnostic tests, hospitalization, and more. It should also cover pre-existing conditions, maternity care, and critical illnesses to provide financial security in unforeseen circumstances.
Affordable premiums
When calculating your health insurance premium, most companies take into account factors such as age, medical history, and specific medical needs. It's imperative to find a health insurance policy that offers sufficient coverage for the value of the premium paid. Most reputable health insurance companies offer a variety of policy options with different premium options and features tailored to meet individual and family healthcare needs.
Network hospitals
A broad network of hospitals is a critical feature of the best health insurance companies. As it enables policyholders to avail cashless treatment at network hospitals, which saves them the hassle of managing bills.
Claim settlement ratio
The claim settlement ratio is the number of claims settled by an insurance provider out of the total number of claims made. It is a critical metric that denotes the company's reliability and customer satisfaction. A high claim settlement ratio is always desirable as it denotes prompt and hassle-free claim settlements.
Add-on benefits
Additional benefits such as critical illness cover, personal accident cover, and wellness benefits can enhance the overall value of a health insurance policy. The best health insurance companies offer a range of add-on benefits that cater to individual needs.