Every year, a list of top health insurance companies in India is declared which helps in taking the right insurance decision. There are few important features that help it to rate the insurance companies, such as their performances, Incurred Claim Ratio, and overall benefits offered to their customers. With the increasing risk of life-threatening diseases and the soaring costs of medical treatment having an adequate health insurance cover is the need of the hour.
There are a plethora of options when it comes down to buying health insurance policy for you. Not only this, there are several insurance providers that offer the best deal of health insurance to its customers. However, it is not possible to figure out which is the best insurer that can actually fulfil all your needs and requirements while deciding an appropriate health plan for you.
We have listed some of the best health insurance providers in India. You can check their Incurred claim ratio, the number of network hospitals, and other features while selecting a health insurance provider. Below is the list of top health insurance companies in India. You can compare them based on coverage benefits and their features and then make a choice.
Let’s read about some of the best health insurance companies in India.
|Plan Name||Sum Insured ( Rs.)||Entry Age ( years)|
|Aditya Birla Activ Health Platinum- Enhanced Plan||2 Lakh- 2 Crore||91 days and above||View Plan|
|Bajaj Allianz Health Guard Gold Family Floater Health Insurance Policy||3-50 Lakh||18-65||View Plan|
|Bharti AXA Smart Super Health Insurance Policy||5-100 Lakh||-||View Plan|
|Cholamandalam Privilege Healthline Insurance Plan||5-25 Lakh||-||View Plan|
|Digit Health Insurance with Maternity Cover||2-25 Lakh||-||View Plan|
|Edelweiss Health Insurance Gold and Platinum Plan||20 Lakh – 1 Crore||90 days – 65 yrs.||View Plan|
|Future Generali Health Total Mediclaim Insurance||Upto 1 Crore||No age bar||View Plan|
|HDFC Easy Health Family Floater Plan (formerly known as Apollo Munich)||2-50 Lakh||5-65 yrs.||View Plan|
|HDFC Ergo General Insurance my: Health Suraksha Gold Plan||7.5- 15 Lakh||-||View Plan|
|Kotak Mahindra Premier Plan||-||18-65 yrs.||View Plan|
|Max Bupa - Heartbeat Family Floater Plan||5 Lakh – 1 Crore||18-65 yrs.||View Plan|
|Manipal Cigna ProHealth Plus Plan||4.5- 50 Lakh||18 yrs. & above||View Plan|
|National Insurance Parivar Mediclaim Policy||1-10 Lakh||18-65 yrs.||View Plan|
|New India Assurance Mediclaim Policy||Up to 15 Lakh||-||View Plan|
|Oriental Happy Family Floater Diamond Plan||12- 20 Lakh||Up to 65 yrs.||View Plan|
|Religare Joy Health Insurance Plan||3/5 Lakh||18-65 yrs.||View Plan|
|Royal Sundaram Lifeline Elite Plan||25 Lakh- 1.5 Crore||18 yrs. & above||View Plan|
|Star Health Wedding Gift Pregnancy Cover||3/5 Lakh||18-40 yrs.||View Plan|
|SBI Arogya Premier Plan||10-30 Lakh||18-65 yrs.||View Plan|
|Tata AIG Medicare Premier Plan||5-50 Lakh||Up to 65 yrs.||View Plan|
|Universal Sompo Complete Healthcare Insurance||1-10 Lakh||18-70 yrs.||View Plan|
Aditya Birla health insurance company is a subsidiary of Aditya Birla Capital Ltd. It was launched to simplify the general insurance services for its customers. The company has a strong reputation with insurance providers across the globe such as in South-East Asia, Middle East, and South Asia. Listed below are the benefits and features of buying medical insurance from Aditya Birla health insurance company:
Bajaj Allianz General Insurance Company has some health products that are very beneficial for customers from a particular age group. Bajaj Allianz Insurance Company was the first to provide captive TPA services with certain additional benefits. Its Incurred Claim Ratio is 85% for the fiscal year 2018-19. Below are some of the features of Bajaj Allianz Medical Insurance plans:
Commenced in August 2008, the company works in collaboration between Bharti Enterprises with 74% share and AXA with the remaining 26% share. Bharti enterprise is one of the renowned business corporations in India. Whereas, Bharti AXA is a global financial and wealth management company. Below are some of the benefits of buying Bharti AXA health insurance plans:
Bharti AXA General Insurance owns 59 corporate offices in India. In the first year of operations, the company received ISO 9001:2008 certification, followed by an ISO 27001:2005. It is one of the most trusted and emerging insurance companies. Bharti AXA health insurance is known for its dedicated services, smooth customer relationships and hassle-free claim process. Below are some of the benefits of buying health plans from Bharti AXA Health Insurance:
Based on the T3 motto- ‘Trust, Technology and Transparency’ Cholamandalam GI Co. Ltd. was founded in the year 2001. In a very short span of time, the company has spread its business across the country and now it has 109 branches across the country. In the year 2011, it was awarded the Financial Insights Innovation Award at the Asian insurance Congress for its innovativeness. Cholamandalam health insurance offers health coverage with attractive features and benefits at an affordable cost. The company claims to have the best customer support and user-friendly plans with extensive coverage. Cholamandalam medical insurance plans are undoubtedly a safe bet for the following reasons:
Digit General Insurance Company is headed by Mr. Kamesh Goyal, who is the CEO. In the last year only, the insurer has issued more than 10 lakh policies. The company also has a record of settling 87% of the claims in just one day. The insurance provider has also been felicitated with Asia’s General Insurance Company of the Year Award 2019. Let’s check out what makes its suitable choice for buying health insurance:
Edelweiss General Insurance is one of the most popular insurance providers in India and is trusted by millions of customers for its legacy bestowed by the Edelweiss Group. The insurance provides has been recognized with numerous awards such as SAP Process Innovation Awards. Here are some of the advantages that the policyholder can avail on purchase of Edelweiss health insurance plans:
Future Generali Total Insurance Solutions is a joint enterprise between the Future Group of Industries and the Generali Group. Future Generali Health Insurance plans are tailor-made to meet the requirements of the different kinds of medical insurance seekers. Below are some of the benefits of buying Future Generali health plans:
HDFC Ergo Health Insurance Company had an outstanding record of Incurred Claim Ratio of 62% for the fiscal year 2018-19, and it has brought additional benefits like portability and lifelong renewability options in its existing health insurance plans. Below are some of the coverage benefits offered by HDFC Ergo Health Insurance Plans:
HDFC ERGO General Insurance Company is one of the largest insurance providers in India. The insurer operates in nearly 91 cities across India with its massive distribution channel of brokers, direct sales, retail, corporate agents, and bancassurance. Listed below are some of the benefits of buying insurance cover from them:
IFFCO-Tokio General Insurance began its operations on December 4th, 2000 in collaboration among the Indian Farmers Fertilizer Co-operative (IFFCO), Nichido Fire Group and a popular Japanese insurance group - Tokio Marine.
The company’s incurred claim settlement ratio is 102%, which signifies a great performance by the insurer in the fiscal year 2018-2019. Incurred Claim Ratio is the ratio of the total claims settled by the insurance company to the total amount of premium collected in that particular year. Here are some of the reasons to buy Health Insurance from Iffco Tokio:
Kotak Mahindra GI Co. formed as a subsidiary of the Kotak Mahindra Bank to serve th General insurance sector including health insurance and other domains. The insurer operates with more than 13 branches PAN India. The customers can change from a range of customised medical policies with the following features and benefits:
Liberty General Insurance Company started its operations in the year 2013. It is a collaboration among Liberty Mutual Insurance Group, DP Jindal Group, Liberty City state holdings PTE Ltd. and Enam Securities. The insurer is present in more than 23 states PAN India. Some of the benefits of buying liberty health insurance policies are given below:
Max Bupa is one of the best-known insurance companies in India, which had an Incurred Claim Ratio of 54% for the fiscal year 2018-19. This company offers its health insurance policies to individuals from all age groups. Below are some of the coverage benefits offered by Star Health Insurance Company:
Manipal Cigna Health Insurance Company is comparatively a new player in the Indian insurance market, as it was launched in 2014 only and immediately fell into the category of the best health insurance companies in India. Its Incurred Claim Ratio for the fiscal year 2018-19 is 62%. Below are some of the features of Manipal Cigna Health Insurance plans:
National Insurance Company Ltd. is a full government entity, which has been serving its customers for more than a century and provides health insurance coverage. It had an Incurred Claim Ratio of 107.64% for the fiscal year 2018-19. Below are some of the benefits of buying health plans from National Insurance Company:
The best health product offered by the National General Insurance Company is Varishtha Mediclaim that offers coverage to senior citizens.
New India Assurance is a fully government-owned entity of India, which has been in operations since 1919. This company is well-known for its Mediclaim policy. The best feature offered under this health insurance policy is that it provides different ratings for major metros. It had an Incurred Claim Ratio of 10.3.74% for the fiscal year 2018-19. Below are some of the features of New India Assurance Company:
Oriental general insurance is also a government-owned general insurance company that offers a wide range of health insurance products in India. The impressive part of Oriental health insurance is that it doesn’t require a pre-policy medical test up to the age of 60 years, whereas it is mandatory under other health insurance providers to get a medical examination done if you are below 45 years of age. Below are some of the benefits of buying Oriental health plans:
Religare Health Insurance Company limited has shown tremendous growth in a short period of time, thereby setting a benchmark in the insurance market of India. It had an Incurred Claim Ratio of 93% for the financial year 2018-19. It is being regularly appreciated and promoted by the Fortis Hospitals. Here are some of the key features of Religare Health Insurance plans:
Reliance General Insurance is one of the most renowned insurers in India. The insurer has 139 offices PAN India to offers seamless services to its customers. They are also present across India and abroad. The Insurance provider has a huge customer base including the individuals, Corporates and SMEs. With online purchase and renewal services, they are even more accessible.
Rajan Raheja Group works in collaboration with QBE Insurance, which is the second-largest global insurance company in Australia’s and that is how Raheja QBE was formed. The General Insurance company was established to provide insurance services to its partners and consumers in the most seamless manner. Some of the features and benefits of health insurance plans from Raheja QBE are given below:
Earlier known as Royal Sundaram Alliance Insurance Co. Ltd., Royal Sundaram General Insurance Co. Ltd. is recognized as one of the top general insurance companies in India. Moreover, the company has been felicitated with many awards for its efficient claim management services. It offers comprehensive insurance plans with innovative features and solutions.
Star Health &Allied Insurance Company offers some of the most comprehensive medical plans for you and your family. The insurer recorded the Incurred Claim Ratio of 63% for the fiscal year 2018-19. Below are some of the coverage benefits offered by Star Health Insurance Plans:
SBI Health Insurance Co. Ltd is a joint venture between the State Bank of India (SBI) and Insurance Australia Group. SBI holds a 74% stake while 26% stake is held by Insurance Australia Group. It operates out in around 14,000 official branches across the globe. With an Incurred Claim Ratio of 52% for the fiscal year 2018-19, SBI Health Insurance Company has issued 198876 policies. Here are some of the key features of SBI Health Insurance Plans:
Tata AIG GI Company works in collaboration between American International and the TATA Group. The insurer commenced its operation in the year 2001. Since then it has earned a popular name in the insurance industry. Tata AIG has tie-ups with some of the best hospitals in India and offers cashless treatment in more than 4000 hospitals across India. Tata AIG health insurance plans come with the following range of benefits-
United India Insurance Co. Ltd. is a merger of 22 companies and is headquartered in Chennai. It is known as one of the most popular general insurance providers in India. The insurer offers affordable and personalized health plans to its customers. Furthermore, United India has got ICRA accreditation for high solvency margin ratio and claim paying ability. Check out the benefits that the company can offer with its health policies:
Universal Sompo General Insurance Company was established in 2007 as a public-private undertaking. It is a collaboration among Dabur Investment Corporation, Sompo Japan, and Karnataka Bank, Allahabad. It has continued to one of the best insurance companies in India. Some of the salient features of Universal Sompo health insurance are listed below-
Over to you!
Hope this article has shared with you useful information regarding the top health insurance companies in India. You can select a health plan from a wide range of products offered by these general insurance companies in India. These insurance companies are well known for their family floater plans. Now! Compare different insurance plans online to find the best insurance policy.