Health insurance is a type of insurance that covers medical expenses that arise due to an illness. These expenses could be related to hospitalisation costs, cost of medicines or doctor consultation fees.
Purchasing health insurance online is undoubtedly the better option. It is convenient, timesaving and transparent, involves no paperwork, ensures a lower premium, and makes it easy to compare policies. This way, you get the best deal too.
Besides, with the rising cost of medical expenses, access to good medical facility and hospitalisation costs can be financially strenuous. Therefore, getting a health insurance cover for yourself and your family can provide the added protection you need in times like these.
These expenditures reflect the cost of caring for those with chronic or long-term medical conditions, an aging population and the increased cost of new medicines, procedures and technologies.
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10 Best Health Insurance in India in 2022
In India, the seeds for the health insurance industry were laid in 1986 and since then the company has seen exponential growth. As of now, there are 30 insurance companies in the country that offer health insurance products.
A general insurance company deals in various insurance products such as travel insurance, motor insurance, health insurance, rural insurance, etc. except life insurance, whereas a standalone health insurance company deals only in health insurance.
1. Aditya Birla Active Health + Multiply Fit Combo
The Aditya Birla Active Health + Multiply Fit Combo is a comprehensive four-in-one health insurance policy which puts focus on providing the advantages of health insurance coverage along with the fitness, wellness and rewards.
It is a new-age plan that takes care of your insurance needs and also offers cashback discounts and wellness points. Its digitally enabled wellness ecosystem rewards users to implement healthy habits.
If a health insurance company receives 1000 claims and it settles 950 claims then the insurer’s health claim ratio will be 95%. Ideally, the claim . Claim Settlement Ratio of Aditya Birla Health Insurance Company. As per IRDAI, Aditya Birla health insurance Claim Ratio is 99.73%.
2. STAR Health’s Senior Citizens Red Carpet Health Policy
Star Health Insurance presents the Senior Citizens Red Carpet Health Insurance Policy with a utilitarian approach towards the elderly citizens. This plan is uniquely designed for the senior citizens in the age group of 60 to 75 years.
The policy comes with the best benefits for the Senior Citizens, which includes a coverage for a wide range of daycare procedures involved in modern treatments, significant medical interventions, pre-existing diseases from the second policy year with the availability of constant premium with a lifelong renewable option.
The policy is available on an Individual/Floater Sum Insured basis. It is apt for senior citizens looking for a best pocket-friendly premium towards medical insurance for senior citizens in India.
STAR Health’s Senior Citizens Red Carpet Health Insurance Policy is aimed specifically at senior citizens. It provides cover to anyone from the age of 60 and permits entry right up to the age of 75 with continuing cover thereafter till lifetime. Claim settlement ratio is 99.73%
3. Bajaj Allianz Health Guard
Bajaj Allianz Health Guard plan is a comprehensive health insurance policy that protects the insured person against any major healthcare medical expenses that may create a financial burden.
It is a comprehensive plan that is available for individuals as well as for families. The best part is that this medical insurance plan provides medical coverage during pregnancy as well as to the new born baby.
The bajaj allianz term insurance policy of mine is good. The policy has low premium investments and the output is high. Claiming is simple and sanctioning amount is easy due to quick service given by the company members. Easy renewals through online portal service. Claim settlement ratio is 98%.
4. Care Health Care Insurance Plan
The insurer offers this policy in three variants i.e. Silver, Gold, and Platinum. You can select one as per your sum assured requirements. This health insurance policy comes with the unique and extensive coverage benefits at an affordable premium.
Edelweiss Health Insurance is a comprehensive health insurance policy. It covers medical expenses incurred in pre and post-hospitalisation, inpatient treatment due to an illness, disease, accident or even critical illness. The policy has 3 variants: Silver, Gold and Platinum.
The health claim settlement ratio gives an idea of the number of claims that the insurer is capable to settle against the claim requests. And Edelweiss health claim ratio is 96.9%, which reflects positively on the insurer’s ability to settle the claims.
6. ICICI Lombard- Complete Health Insurance Policy
ICICI Lombard has one of the best health policies available. I did a lot of comparison over the last year and found this to be the best one. Not only is it available in various combinations as per your need but also offers OPD, maternity and wellness cover. It even has a reset benefit.
ICICI Lombard Complete Health Insurance policy secures your finances against sudden medical expenses. It is a comprehensive policy for you and your family, designed to cater to most of your common healthcare needs. It comes with an option to include your family under one policy called the family floater option.
Besides, the sum insured of corporate health plan may not be adequate to cover you and your dependents in case of a medical emergency. Hence, it is recommended to invest in one of the leading family health insurance plans in India that covers up to 2 adults adequately. Claim settlement ratio is 99.98%.
7. Magma HDI Insurance
Magma HDI General Insurance Co. Ltd. is a joint venture of Magma Fincorp Limited, and HDI Global SE Company, and is a popular insurance company in India.
It has an impressive claim settlement ratio and offers a wide range of health insurance plans to fulfill different requirements of people. In addition to health insurance plans, it also provides fire insurance plans, marine insurance, motor insurance, and other related products.
Magma HDI car insurance is good on its insurance purchase or claims, coverages, and add-ons, etc. The company has a good claim settlement ratio of 95.17%. The claim settlement is simple and quick and hassle-free.
Kotak Health Premier Plan is a comprehensive health insurance policy that offers both medical protection and value-added benefits to the policyholders. Health and wellness rewards are also provided under this health policy.
Kotak Health Premier is a plan that allows its users to undergo medical procedures and treatments without experiencing any financial crisis. The policy can be purchased on an individual as well as on a family floater basis with lifetime renewability option. A wide range of sum insured that ranges from Rs. 3 Lakh to Rs.
Kotak General Insurance Company follows a smooth and fast claim settlement process. And to check. The insurer’s health claim settlement ratio is 76.20%, which is quite satisfactory.
9. HDFC ERGO My: Health Women Suraksha
HDFC ERGO offers medical insurance with maternity benefits in two of its plans namely; Health Suraksha Gold & Medisure Classic. Both these plans offer ample of benefits along with maternity cover after a continuous renewal of 4 years.
Health plans can no longer deny you coverage if you are pregnant. That’s true whether you get insurance through your employer or buy it on your own. What’s more, health plans cannot charge you more to have a policy because you are pregnant.
This policy is a comprehensive plan designed for women centric critical illness. It offers wide coverage against minor ailments, major illnesses, surgeries and critical illnesses related to women. Claim settlement ratio is
Among the private general insurance companies, HDFC Ergo General Insurance tops the chart with 99.8% claims settled in first 3 months of making the claim.
10. New India General Insurance
New India General Insurance is a multinational general insurance company that is headquartered in Mumbai, India and operates in 28 countries. The insurance company has more than 250 products including different types of health insurance plans for different sections of the society.
The plans offered are quite affordable and even provide coverage for several healthcare expenses ranging from in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, organ donor expenses, road ambulance expenses, etc.
New India Assurance General Insurance has gained popularity for its seamless claim settlement ratio of 89.60% in the financial year 2019-2020.
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Frequently Asked Questions ( FAQs )
Is New India a Government assurance job?
The New India Assurance Company Ltd., a leading Public Sector General Insurance Company & wholly owned by Government of India, invites applications for recruitment of 300 Officers (Generalist) in Scale I cadre from open market
What is the New India Assurance?
The New India Assurance Co. Ltd., is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It is based in Mumbai, Maharashtra. .. “It is the largest nationalised general insurance company of India on the basis of gross premium collection inclusive of foreign operations”.
What is not covered in New India Assurance?
Congenital External Anomaly of the New Born Baby is not covered under the Policy. Any expenses incurred towards pre-term or pre-mature care or expenses incurred in connection with delivery of such New Born Baby are not covered under this clause.
Is OPD covered in New India Assurance?
20% of the sum insured will be paid for Ayurvedic, Homeopathic and Unani treatment. OPD treatments are covered after every block of 2 continuous claim-free years. Rs. 5,000 is granted under Plan A, and Rs.
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