Top 10 health insurance companies in India

Health insurance is indispensible in India. With increasing instances of hospitalization and rising medical expenses, it has become troublesome for middle-class people. Health insurance provides the much-needed cushion and helps one manage one’s finance in the moment of crisis. However, many people find it confusing when it comes to settle with the right provider of health insurance plans in India as there are is an abundance of health insurance companies.

Top 10 health insurance companies in India

Here is some useful information regarding top 10 health insurance companies in India. You can choose any of these health insurance companies as per your needs after going through the features and benefits.

Max Bupa

Established in 2010, Max Bupa Health Insurance is one of the front-runners among health insurance companies in India. Max Bupa is known for its innovative health insurance products and lenient terms and conditions.

Best features of Max Bupa health insurance

  • Cashless treatment facility in more than 3500 hospitals all over India
  • Availability of region based premium
  • No claim-loading
  • Lifetime renewal option is available
  • Free health check-up in every two years
  • Waiting period for pre-existing disease is 2 years
  • Heartbeat plan covers maternity after waiting period

Best Max Bupa health insurance plans

  • Heartbeat health plan ( Gold, Silver and Platinum)
  • Health Companion Health Insurance Plan

Star Health

Star Health happens to be the first stand-alone health insurance companies in India. The company is popular for its disease-specific health insurance products and robust network of hospitals in India.

Best features of Star Health Insurance plans

  • Cashless treatment facility in more than 7000 hospitals all over India
  • Availability of disease-specific health insurance products like Diabetes Safe for diabetic patients and Star Netplus for HIV+ patients
  • Claim is settled by in-house team and no intervention of TPA
  • Availability of free consultations with general physicians
  • Star Health won the ‘best health insurance company of the year 2015’ at Indian insurance award

Best Star Health insurance plans

  • Star Family Health Optima
  • Senior Citizen Red Carpet

Apollo Munich

Apollo Munich is another renowned stand-alone health insurance company in India.  This provider of health insurance in India is highly sought-after because of its quick claim authorization and portability features.

Best features of Apollo Munich health insurance plans

  • Cashless treatment facility in over 4000 hospitals across India
  • Lifetime renewal option is available
  • Availability of portability benefits
  • Maternity coverage is available after a waiting period
  • 90% valid claims are authorized within 2 hours
  • Waiting period for pre-existing disease is 3 years

Best Apollo Munich health insurance plans

  • Easy Health Gold, Standard, Exclusive and Premium
  • Optima Restore Family
  • Dengue Care Plan
  • Maxima health
  • Optima Super

Cigna TTK

Cigna TTK Health Insurance Company is known for its tailor made health insurance products that cover medical emergencies all over the world.

Best features of Cigna TTK health insurance plans

  • Availability of No Claim Bonus, Cumulative Bonus and Healthy Rewards to reduce premium
  • Personal Health Wallet is available
  • Day care procedures and Domiciliary treatment expenses are covered
  • Coverage available for Organ Donor expenses
  • Medical expenses abroad all over the world are reimbursed
  • Availability of 100% Sum Insured restoration
  • Ambulance expenses are covered
  • Availability of Critical Illness add-on cover
  • Availability of free opinion for critical illnesses
  • Coverage available for Maternity and new born baby’s vaccinations expenses in the first year
  • Availability of annual health check-up

Best Cigna TTK health insurance plans

  • ProHealth Protect Plan
  • ProHealth Plus Plan
  • ProHealth Preferred Plan

ICICI Lombard

ICICI Lombard is the largest general insurance company from private sector in India. The company has lately come up with an innovative and interactive tool to assist customers in selecting the right plan.

Best features of ICICI Lombard health insurance plans

  • Cashless treatment facility in over 4500 hospitals across India
  • Availability of Wellness and Preventive health care options
  • No entry-age restrictions
  • Lifetime renewal option is available
  • Coverage available for 150 Day Care surgeries, donor expenses
  • Availability of 100% Sum Insured restoration and 10% no claim bonus up to 50%
  • Coverage available for maternity benefit and new born Baby expenses in specific plans
  • Coverage available for in-patient AYUSH treatment and Outpatient (OPD) medical expenses
  • Availability of free annual health check-up
  • Free consultation with doctor, Dietician & Nutritionist

Best ICICI Lombard health insurance plans

  • Health Advantage
  • ICICI Lombard Complete Health Insurance
  • ICICI Lombard Health Care Plus

ICR of top 10 health insurance companies in India

IRDAI come up with a list of best health insurance companies in India every year. The following list is made on the basis of Incurred Claims Ratio of health insurance companies of India.

Health insurance companies Incurred claim ratio
Max Bupa 55.16%.
Star Health 63.96%
Apollo Munich 63.03%
Cigna TTK 78.66%
ICICI Lombard 81.47%
Bajaj Allianz  73.59%
National Insurance 110.20%
New India Assurance 98.78%,
Religare 61.3%
Oriental Insurance 83.71%

Bajaj Allianz

Bajaj Allianz General Insurance is the very first company to introduce captive TPA in India. The company is popular for innovative plans like Hospital Cash and coverage against Critical Illness.

Best features of Bajaj Allianz health insurance plans

  • Cashless treatment facility in over 3700 hospitals across India
  • Family health plans offer coverage against 6 people
  • Availability of pre and post hospitalization coverage for 60 and 90 days respectively
  • Waiting period for pre-existing disease is 4 years
  • Free health check-up in every four years

Best Bajaj Allianz health insurance plans

  • Health Guard
  • Bajaj Allianz Extra Care
  • Bajaj Allianz Health Care Supreme

National Insurance

National insurance company is fully owned general insurance company. The company is in great demands for its very high claim settlement rate and wide range of network hospitals

Best features of National Insurance health insurance plans

  • Cashless treatment facility in over 6000 hospitals across India
  • Pre-policy medical check-up is not required up to 49 years of age
  • Availability of maternity coverage
  • Discount is available with family health insurance plans
  • Availability of add-on covers against OPD, Pre-existing hypertension and diabete , critical illness,
  • Lifetime renewal option is available
  • Day care procedures and Domiciliary treatment expenses are covered
  • Coverage available for Organ donor , Anti Rabies vaccination and infertility treatment expenses
  • Coverage available for Ayurveda and Homeopathy treatment expenses
  • Availability of daily cash benefit
  • Coverage available for medical emergency reunion
  • Availability of Ayurveda and Homeopathy treatment coverage
  • Coverage available for Nursing Care and Doctor’s Home Visit
  • Availability of  Second Opinion
  • Coverage available for ambulance including air ambulance charges

Best National Insurance health insurance plans

  • National Parivar Mediclaim
  • National Parivar Mediclaim Plus
  • National Mediclaim Plus Policy
  • Parivar Mediclaim Policy
  • National Mediclaim Policy

New India Assurance

It is also one of the first general insurance companies in India.  The company is fully owned by Government of India. At present, New India Assurance operates in 28 countries all over the world.

Best features of New India Assurance health insurance plans

  • Cashless treatment facility in over 2000 hospitals across India
  • Availability of pre and post hospitalization coverage for 30 and 60 days respectively
  • Waiting period for pre-existing disease is 4 years
  • Free health check-up in every three years
  • Family health plans offer coverage against 6 people

Best New India Assurance health insurance plans

  • New India Floater Mediclaim Policy
  • New India Asha Kiran Policy
  • Mediclaim 2012 Policy

Religare

Religare General Insurance Company complies with ISO 9001:2015 standards when it comes to Quality Management System.

Best features of Religare health insurance plans

  • Cashless treatment facility in over 4900 hospitals across India
  • Availability of coverage up to Rs. 60 Lacs and flexible options to choose Sum Insured
  • Maternity coverage is available after 9 months
  • Lifetime renewal option is available
  • Day care procedures and Domiciliary treatment expenses are covered
  • Coverage available for Organ donor expenses
  • Availability of daily cash up to Rs. 500
  • Availability of  Second Opinion
  • Coverage available for ambulance charges
  • Free health check-up in every year
  • Availability of  automatic restoration of the entire Sum Insured for unlimited times
  • Availability of  worldwide treatment coverage for Sum Insured over Rs. 40 Lacs

Best Religare health insurance plans

  • Religare Care
  • Religare Enhance
  • Religare Joy

Oriental Insurance

Oriental insurance is another public sector general insurance company. The company is known for a wide range of health insurance plans designed for people from all walks of life.

Best features of Oriental health insurance plans

  • Medical check-up is not required till the age of 60 for specific plan
  • Medical check-up is not required till the age of 55 for regular plans
  • Availability of daily cash, convalescence benefit
  • Availability of add-on covers like Life Hardship Survival cover and Personal Accident cover
  • Lifetime renewal option is available
  • Availability of portability option, Second Opinion for critical illness
  • Day care procedures and domiciliary treatment expenses are covered
  • Coverage available for Organ donor expenses, animal bite treatment expenses
  • Free health check-up in every 3 years
  • Coverage available for ambulance charges
  • Availability of attendant allowance in specific plans
  • Coverage available for dental treatments due to accidents and against funeral expenses

Best Oriental Insurance health insurance plans

  • Individual mediclaim policy
  • Happy family floater policy

Conclusion

Now that you are aware of the top health insurance companies and some of the best health insurance plans available with them, it is time to make an informed choice. You need to go through these health insurance companies’ guidelines regarding exclusions, renewal process, claim procedure and the likes. After gaining this handy information, you should compare health insurance companies to find the best provider.

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