Are you looking for the best health insurance companies? If yes, then you are at the right place. Here you will get your answers.
Health insurance is one of the crucial components of financial planning. It offers financial security and peace of mind during the hard times of medical emergencies. In India, you can find a multitude of health insurance companies, that provide a range of medical policies to their customers.
However, it is a confusing task to choose the best policy for us out of so many policies. To solve this problem, we have a compilation of the best health insurance companies in India that offer and promise you the best health plans.
List of 10 Best Health Insurance Companies in India
- ACKO Health Insurance Company
- Star Health and Allied Health Insurance Company
- Kotak Mahindra Health Insurance Company
- HDFC ERGO Health Insurance
- IFFCO Tokio Health Insurance Company
- ICICI Lombard Health Insurance
- BAJAJ Allianz Health Insurance Company
- Care Health Insurance Company
- National Insurance Company
- Reliance General Health Insurance Company
| Insurance Company | Claim Settlement Ratio for FY 2021-22 | Network Hospitals |
| ACKO Health Insurance Company | 97.20% | 7100+ |
| Star Health and Allied Health Insurance Company | 99.06% | 14000+ |
| Kotak Mahindra Health Insurance Company | 96.90% | 7000+ |
| HDFC ERGO Health Insurance | 98.49% | 13000+ |
| IFFCO Tokio Health Insurance Company | 89.38% | 7500+ |
| ICICI Lombard Health Insurance | 97.07% | 6700+ |
| BAJAJ Allianz Health Insurance Company | 96.59% | 8000+ |
| Care Health Insurance Company | 100% | 20800+ |
| National Insurance Company | 86.28% | 3000+ |
| Reliance General Health Insurance Company | 98.65% | 8600+ |
Best Health Insurance Companies – At a Glance
1. Acko Health Insurance
Established in 2016, Acko Health Insurance has rapidly emerged as a prominent company in the Indian healthcare insurance world. They offer a range of innovative and customer-centric insurance products. With a mission to make insurance accessible and hassle-free, Acko has brought digital platforms to streamline the insurance processes, from purchasing policies to claim processing.
Their commitment to simplicity, transparency, and customer satisfaction has helped them gain a strong foothold in the industry.
2. Star Health and Allied Insurance Company
One of the leading standalone health insurance companies, Star Health has amassed a vast customer base and has helped its customers by providing them with comfort and financial security during the hard times.
Star Health Insurance has various products of health insurance featuring AYUSH treatment, 9900+ network hospitals for the best Medicare along with domiciliary hospitalization, day-care treatment, and much more.
3. Kotak Mahindra Health Insurance Company
Kotak Mahindra Health Insurance, a subsidiary of Kotak Mahindra Bank, entered the market in 2015 after receiving its license from IRDAI. While Kotak Mahindra itself has a longstanding presence in the financial sectors, Kotak Mahindra is also expanding its offerings to cover the health insurance sector.
They are providing extensive products of health insurance which is not only affordable but also has comprehensive coverage options.
4. HDFC ERGO Health Insurance
HDFC ERGO Insurance Company is a joint venture of HDFC Limited and ERGO International AG. It has become a prominent insurance company that offers a wide range of healthcare coverage solutions. HDFC ERGO is known for its commitment to providing comprehensive and customer-centric health insurance plans.
The company has a network of more than 200 branches spread across 170+ places. Their dedication to innovation, transparency, and customer satisfaction sets them apart in the insurance sector.
5. IFFCO TOKIO Health Insurance Company
IFFCO TOKIO Health Insurance Company is one of the prominent companies offering a wide array of health insurance solutions. Established in 2000, this company is a joint venture between the IFFCO and Tokio Marine Group, a leading Japanese company.
Over the years, it has carved itself as the most comprehensive and affordable health insurance option for everyone. The aim of the company is to offer quality insurance.
6. ICICI Lombard Health Insurance
ICICI Lombard Health Insurance company has created a prominent niche for itself in the Indian Insurance sector. It is a joint venture of ICICI Bank Limited from India and Fairfax Financial Holdings Limited from Canada.
The company offers a wide range of health insurance that covers the expenses of hospitalization, daycare procedures, ambulance charges, and domiciliary hospitalization.
7. BAJAJ Allianz Health Insurance Company
One of the leading health insurance providers, BAJAJ Allianz is serving people across the country. The company founded in 2001 is a joint venture between BAJAJ Allianz SE, the world’s leading insurer, and BAJAJ Finserv Limited and they have gained a firm foothold in the insurance sector with over 10 crore customers, 9000 employees, 80k agents, and 240 bank partners. Headquartered in Pune, Maharashtra, BAJAJ Allianz health insurance company has empowered millions of lives with its insurance products in the last 2 decades of its existence.
8. Care Health Insurance Company
Care Health Insurance formerly known as Religare Health Insurance is a specialized standalone company in India. With a history dating back to its establishment in 2012, Care Health aims to make quality healthcare accessible to every citizen.
They offer very innovative health insurance products that cater to the diverse healthcare needs of individuals and families. With a strong emphasis on customer satisfaction and ethical business practices, Care Health Insurance has established itself as a reliable and reputable entity in the Indian Insurance industry.
9. National Insurance Company
National Insurance Company Limited (NICL) is a fully owned general insurance company by the Government of India. Founded in 1906, this company is one of the oldest General Insurance Companies in India. They offer plans that can be renewed throughout the lifetime of the policyholders.
They have the products of health insurance that offers a wide range of customizations for the needs of an individual, a family, a group, senior citizens, and more. National Health Insurance policy comes with access to wide hospital networks, add-on covers, cashless claims, protection from COVID-19, and many more features.
10. Reliance General Health Insurance Company
Reliance General Health Insurance Company is a subsidiary of Reliance Capital and a part of the Reliance Anil Dhirubai Ambani Group. Established in the year 2000, the company now has 139 offices and more than 28900 intermediaries across the country.
They offer a wide range of health insurance products for the customers to choose from such as individual plans, family floater plans, critical illness plans, and group mediclaim health insurance policies to meet their healthcare needs.
How to choose the best Health Insurance Company?
Choosing the best health Insurance Company requires careful consideration of several factors. Here are some points to remember before choosing a health insurance company.
- Understand Your NeedsDetermine what coverage is suitable for your needs and how much you can afford to pay in premiums.
- Research Your OptionsLook for health insurance companies and check for their reviews and CSR reports.
- Compare PlansGather the information on the plans offered by different insurance companies. Pay your attention to the coverage details, including in-network and out-network providers. Also, compare the premiums, deductibles, co-pays, and out-of-pocket maximums.
- Check Provider NetworksMake sure that your preferred doctors, specialists, hospitals, and healthcare facilities are in the network of the insurance company.
- Read the reviews and ratingsCheck the customer reviews or ratings of the insurance companies you are considering. Pay attention to the satisfaction of the customers and claim processing.
- Check the Financial StabilityResearch the financial stability of the insurance company by reviewing its ratings and financial statements.
- Understand Exclusions and LimitationsCarefully review the policy documents and understand the coverage, exclusions, and limitations.
- Customer ServiceTry talking to the customer care of the selected company by asking questions and evaluating their response, how they are helping you, and their willingness to assist you.
- Check for Additional BenefitsSome insurance plans offer a few additional benefits like wellness programs, telehealth services, and much more. Consider whether these extras are valuable to you.
- Seek Professional AdviceConsider consulting with the expert for your doubts and queries.
Conclusion
Health insurance is a significant final decision that can be taken very peculiarly. So take your time to research and choose the plan that suitably meets your healthcare needs and budget. It is also important to periodically review your coverage to make sure it continues to meet your needs. Also, having a reliable health insurance policy is essential for safeguarding your financial well-being in case of unexpected medical expenses. The top 10 health insurance companies listed here can serve as a starting point for your research, but it is essential for you to dig deeper before selecting the insurance policy for yourself.
