In this era of technology, fast paced life and sedentary lifestyle, the probability of people getting many untimely diseases is increasing at a great pace. The concepts of the young generation being strong and not affected by life threatening and serious diseases have failed badly.
The young populations of the country are getting into various types of critical illness issues often.
According to a recent study, every 1 out of the 3 young Indians are suffering from some sort of lifestyle diseases. If we take it the percentage form, then around 33% of the people who are 30 or above are suffering from diseases like diabetes, high cholesterol, blood pressure, thyroid, cancer, and others.
The cost of treatments for any of the above mentioned or other diseases are rapidly increasing. The government hospitals in India are still struggling to offer the best possible services to their patients and the private ones with great facilities and well experienced doctors’ charges way more than your expectations.
Then what can be the midway to balance things out?
The answer is Health Insurance Plans.
Getting health insurance done is not a luxury in India anymore. Because of the increasing rates of treatments and hospitalization, it became a necessity for almost everyone. It can end up being your best friend in critical times and is also the best way to cope up with the incrementing medical expenses.
The budget passed by the Indian government for public healthcare is never satisfactory and enough to fulfill all the requirements of the hospitals, working stuff and patients.
This has forced the Indian population to get treatments from private hospitals. The treatment provided by the private healthcare organizations/ hospitals comes with great facilities and exorbitant prices.
Investing in health insurance plans in India is no less than a compulsory requirement now. The best health insurance companies in India provide their customers with multiple facilities through their wide network of hospitals.
They offer cashless facilities in all the hospitals of their network and also manage all their finance. They take care of the hospitalization expenses along with other expenses that are added up to the total in the entire treatment process.
In some other cases, the reimbursement is also being done after the claim on a health insurance plan. This procedure of payment is common for the insured persons who are taking treatment in a hospital which is not in the list of the hospitals covered under the company’s network.
Now the question is that is popping in your mind is “which health insurance service provider should we go for?”
Well, there are many health insurance service providers in the country. There is no doubt that a lot of health insurance providers are doing a great job and have assisted many in their hard times.
But, the first thing that you have to understand here is the fact that not all the health insurance companies are the same. Also, the health insurance plans offered by a company for different cases are going to be different.
The first thing that you have to do at your end is to list down your requirements. What are need a health insurance company to offer you? What is your budget? Does the company have a good health insurance plan in your budget? What diseases they cover? Whether you want a health insurance plan for individuals or families? Etc.
The company that is able to satisfy you the most should be the one you can opt for. But, on the other hand, with respect to claim settlement terms, company reputation, customer service and other such features, we have a list of top 10 health insurance companies in India for the year 2020.
Now you can easily compare the policies offered by them and can grab a great deal for you.
Here is the List of Top 10 Health Insurance Companies In India:
Star Health & Allied Insurance Company Limited
Star health is considered the best health insurance provider in India for a few years now. The company was started in the year 2006 with an interest in offering health insurance, personal accident insurance and overseas mediclaim policies.
It is the first stand alone health insurance brand in India. The online health insurance plans offered by the company plays a vital role in managing your finances in a situation of a medical emergency.
A few advantages provided by the company are:
- The company has a huge network of hospitals with 7000+ hospitals all across India.
- Company owns an in house team for claim settlement.
- The percentage of approved cashless health insurance claims is quite high with 90%.
- They got an award in the year 2015 for being the best Health Insurance Company of the Year.
- The health insurance plans provided in the country comes with multiple benefits and at affordable rates.
- They have a customer centric business approach.
Max Bupa Health Insurance Company
Max Bupa Health Insurance Company was started in the year 2008 and it is a joint venture between Max India Limited and the British healthcare company Bupa.
The company is counted as one of the top notch insurers in the industry. They have a huge range of insurance plans fulfilling various requirements of the client. The company is responsible for bringing a vast knowledge base to the insurance industry.
The company holds a long list of features that will make you buy their health insurance plans but major ones of them are:
- One of the major benefits offered by Max Bupa is its range of exclusive benefits with their policy package. They cover room rent without any sub limits and other such expenses. It comes with a lifelong renewal option as well.
- The company is one of the most reputed brands in the industry and has one quite a few awards as well.
- The best part about buying an insurance plan from Max Bupa is you will find something for all ages and for all the income groups.
HDFC ERGO Health Insurance Company
One of the most renowned health insurance providers of India Apollo Munich Health Insurance Company was a merger between one of the largest healthcare providers in India Apollo Hospital Group and the world leader of health insurance Munich Health.
Now the company has joined hands with HDFC and has become HDFC ERGO Health Insurance Company. This health insurance brand is known for offering policies with infinite coverage.
Some of the main features of the brand are:
- The hospital network extends to more than 10,000 hospitals all across India with a cashless treatment facility.
- Another big reason to buy their health insurance policy is due to their huge range of services offered to the customers by fulfilling their needs in every walk of their life.
- They have a custom made service for cashless facility and thus approve the maximum of the cashless claims in a very short span of time.
- The company has one of the highest renewal rates with 80% in the industry due to its ability to satisfy its customers.
- The company is expert in settling 95% health insurance claims before 15 days.
Cigna TTK Health Insurance Company
Manipal Cigna TTK Health Insurance Company was established in 2011 and was a joint venture between healthcare and higher education group of India named as Manipal Group and a company offering healthcare services globally known as Cigna Corporation.
The company is present in more than 30 countries across the globe and serves more than 160 million customers. The company is considered quite new but is still standing strong in the list of top 10 health insurance companies in India due to the exclusive features offered by them.
A few of these features are
- The company has a great range of health insurance policies, taking individual and family needs into consideration.
- They also have a huge network with more than 4000 hospitals around the country.
- They offer lifelong renewal option to all their policyholders.
- The company is known for offering all the medical expenses coverage from 60 days before the patient has been hospitalized and 90 days after it.
Religare Health Insurance Company
Established in 2012, the company has earned this position in the list of top 10 health insurance companies in India in a very short span of time. The growth has been tremendous.
They have set their benchmark in the insurance industry of the country. They are a standalone health insurance service with three entities namely: Religare Enterprises Ltd, Union Bank of India and Corporation Bank.
The pros of getting a health insurance plan from Religare can lead you to avail of the following benefits
- Even after being a new company, it has made a good network of hospitals and are not much behind the giants of the industry.
- The cashless treatment facility is given by Religare Health Insurance Company in more than 4100 hospitals across the entire nation.
- One big advantage that sets Religare apart from other brands of the industry is its direct claim settlement method. This has helped them in gaining customer satisfaction as well as increased customer retention.
- The health policies also have riders for better coverage.
- Regardless of what situation you are in, they are always ready with a health insurance plan as per your requirements.
ICICI Lombard Insurance Company
ICICI Lombard Insurance Company is a general insurance brand in India. It is mainly into offering general insurance and reinsurance and deals with insurance claims and investment management. The company was established in 2009.
But one important to know about the company is they are one of the leading brands offering health insurance plans in the Indian market. They provide complete coverage of the expenses that take place during the medical emergency procedure.
Some advantages of buying their health insurance plans include
- The company is in collaboration with more than 3200 hospitals in its range and offers cashless services in all of them.
- They have an impressive speed of resolving health insurance claims.
- The reimbursement claims are also processed quickly by the insurance provider and generally takes less than 14 days.
- ICICI Lombard has some great comprehensive policies for people looking for health insurance plans. Their plans also gives full protection even in other nations.
New India Assurance Insurance Company
In comparison to all the general insurance plans that New India Assurance Insurance Company is known for offering, their health insurance plans are at the top. The company has won so many awards and is the largest general insurance provider in India.
The mediclaim plans provided by them are considered as the best because of the following mentioned benefits
- The company provides cashless treatment facility to their health insurance plan buyers in all the hospitals that are come in their network.
- In the present time, the company has a network of over 1200 hospitals in India.
- The mediclaim policy provided by New India Assurance comes with a lifetime renewal option.
- They also offer free medical checkups to all the health insurance buyers.
Oriental Insurance Company Limited
Oriental Insurance Company Limited is a public sector general insurance company, established in 1947 with headquarters located in the capital of the country New Delhi.
It is the oldest government owned general insurance company in the country. They have a wide database of general insurance plans which also includes great deals for health insurance plans.
The company offers countless benefits but a few important ones are
- The family focused health insurance policies by Oriental Insurance Company offers great coverage to the families. It benefits 7 members of a family including 4 adults and 3 children.
- The online health insurance policies by the company have lifelong renewal options.
- Another benefit is when you include your family member in the company’s health insurance policy you are eligible to avail 10% discount on the total amount.
- The company offers cashless treatment facility in more than 4300 hospitals of its network all around India.
National Insurance Company
It is a fully government owned general insurance company. It was established in 1906 and is the oldest among all other insurance companies in India. National Insurance Company offers a huge variety of general insurance plans.
It is considered to be the provider of the best medical insurance coverage in comparison to the other health insurance provides in India.
Here are some of the pros that will make buy their health insurance policies
- It covers the treatment and care cost starting from 30 days before the hospitalization and 60 days after that.
- The company also offer free health checkup facilities to 1% of the total insured people who doesn’t claim for continuous 4 years.
- A few medical insurance plans by the company such as Parivar Mediclaim policy is able to a=cover up to 6 members from a family.
- They have a massive network of hospitals all around the country with more than 6000 hospitals covered. The policyholders can get benefitted by their cashless treatment facility in all of the hospitals of their network.
Bajaj Allianz General Insurance
It is another general insurance company in the country. It is a joint venture company between the Bajaj group of India’s Bajaj Finserv Ltd and a German financial service company Allianz SE.
The company has a huge range of options for health insurance plans which can fulfill your medical needs in the best possible way. It is the first ever company to offer TPA with certain advantages.
- Different kind of customers has different needs and Bajaj Allianz has the solution for all of them. They offer customized health insurance plans as per your needs.
- The company has specific health insurance plans for individuals, families, senior citizens and women.
- All the pre and post hospitalization expenses are covered under the health insurance policy.
- They have a network of more than 5000 hospitals in India.
- Bajaj offers cashless treatment facility in all the hospitals of its network.
Conclusion
All the above mentioned companies are best in their own ways. It is better to know your requirements first and then opt for any of the health insurance policies from either of them.
Being well aware of what you need and what the company is offering can be the only best possible way to get a great deal. The detailed information provided here can assist you in making an easy and fast decision. You can also click on the company links and can compare the various health insurance policies.
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