*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Agent: Sir, what type of health policy do you want?
Buyer: Yaar kuch bhi de de, sare to same he hote hai almost.
Agent: No sir, there are multiple types as per the requirement.
Buyer: Achcha, policy ke type bhi hote hain? Mujhe laga har company ek jaisi hi policy deti hai.
And we can bet on that there are people who still think that all health insurance plans are the same, so are the insurance providers.
But here’s the catch…
Kuch bhi lene se kaam nai chalega aab.
Experts say choose the best only!
In line with this you can ensure the best health insurance option only if you choose the best provider. And choosing health insurance provider is not a cake walk although!
Fret not! We’re here to help you.
There is no dearth of health insurance providers in India. However, they all differ from each other in terms of their offerings, customer services, market reputation, claim settlement ratio etc. And that’s why a comparison of health insurance companies is essential to ensure the right plan.
Listed below are some of the top health insurance providers in India, who have been serving the industry since long with their innovative insurance solutions. You can choose their best health insurance plan on the basis of a comparison and stay covered against uncertainties:
Here’s the comparison table of top health insurance providers in India:
Insurance Provider |
Network Hospital |
Incurred Claim Ratio |
Plan Options |
Sum Insured (Rs) |
5850+ |
59% |
Active Assure Diamond |
2 lakh-2 crore |
|
6500+ |
85% |
Health Guard |
1.5 lakh-50 lakh |
|
4300+ |
89% |
Smart Health Super Insurance |
5 lakh-1 crore |
|
Care Health Insurance (formerly known as Religare Health Insurance) |
4987+ | 55% | Care Health Car Plan | 2 lakh-10 lakh |
Cholamandalam Health Insurance |
6500+ |
35% |
Classic Family Health Insurance |
2 lakh-5 lakh |
5900+ |
11% |
Digit Health Care Plus Insurance |
Up to 3 crore |
|
2578+ |
115% |
Edelweiss Health Insurance |
1 lakh- 1 crore |
|
5000+ |
73% |
Criticare Plan |
20 lakh & 50 lakh |
|
4721+ |
62% |
Health Optima Restore |
3 lakh-50 lakh |
|
5000+ |
102% |
Health Protector Plus |
2 lakh- 25 lakh |
|
4800+ |
47% |
Kotak Health Premier |
- |
|
3000+ |
82% |
Health Connect Supra Top-up |
Up to 1 crore |
|
4115+ |
54% |
Companion Individual Plan |
4 lakh -1 crore |
|
6500+ |
62% |
Pro Health Select |
2 lakh- 25 lakh |
|
4500+ |
107.64% |
National Parivar Mediclaim |
1 lakh-10 lakh |
|
3000+ |
103.74% |
Senior Citizen Mediclaim |
1 lakh-1.5 lakh |
|
4300+ |
108.80% |
Individual Mediclaim Policy |
1 lakh-10 lakh |
|
2000+ |
33% |
Health QBE |
1 lakh-50 lakh |
|
5000+ |
61% |
Lifeline Supreme Plan |
5/10/15/20/50 lakh |
|
4000+ |
14% |
Critical Illness Plan |
5/7/10 lakh |
|
9800+ |
63% |
Family Health Optima |
4 lakh and 5 lakh |
|
6000+ |
52% |
Arogya Premier |
10 lakh-30 lakh |
|
4000+ |
78% |
TATA AIG MediPrime |
2-5 lakh, 7. 5 lakh and 10 lakh |
|
7000+ |
110.95% |
UNI Criticare Plan |
1/3/5/10 lakh |
|
5000+ |
92% |
Individual Health Insurance |
7.5/10/12.5/15 lakh |
Disclaimer: *Paisawiki does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
The reasons for buying health insurance are manifold, but financial security to your family is being the first one. A health insurance policy takes care of those unplanned expenses that may cause a huge dent in your pocket. Hence, backing your finances with a health insurance plan is a good idea. Here’re some of the foremost reasons to get a health insurance policy:
Health insurance can be availed in the following ways:
As many of us may agree with the saying that having health insurance is the starting point of all financial planning, approaching the right company is the real game-changer here. But people often end up doing certain mistakes while choosing the insurance company and pay for it later. Having said that, here’re are some of the health insurance mistakes to be avoided:
Not Consider to Compare Health Insurance Providers
Be it a health insurance plan or a provider, a thorough comparison is always recommended to get the right deal. Online comparison helps the insurance seekers to compare various insurance providers on the grounds of their offerings, claim settlement ratio, market reputation etc. This will give a fair idea about how the insurer is performing in the market. A comparison of at least 5-6 insurance companies and zeroing down on the best health insurance is the need of the hour.
Relying Only on the Employer's Cover
Most of the employers in India offer group health insurance under their employees’ benefit scheme. This is a good initiative, however, there may be times, when this cover may prove to be insufficient considering the rising rate of medical inflation. Moreover, an employer’s health insurance covers you during your course of employment only. The cover ceases once you resign. So, if you don’t consider a standalone health insurance plan, you’ll remain uncovered again.
Not Considering the Area of Residence
The area of residence, whether it is rural or urban, has a high deviation in the case of mediclaim policies. Higher coverage of insurance is required if you are residing in an urban city, keeping in mind the rising costs of healthcare treatments. This practically goes down if you are living in a smaller city as the risk is less, and so is the cost.
Avoiding the Policy Fine Print
Many of us tend to avoid reading the long terms and conditions of any given policy and proceed with the further formalities. This section carries crucial information or hidden clauses that need your attention such as some policies come with a cap on room rent in a hospital, certain waiting period to be served, clauses for covering pre-existing illnesses, sub-limits etc. Avoiding these can be a reason for the rejection of your claim at the later stage.
Not Considering the Factors Other than the Premium
At the time of buying health insurance, one should consider a provider or a plan after analysing all possible factors. Buying a plan based only on the premium can be a wrong approach. Apart from the premium, there are factors such as policy limitations, clauses for the pre-existing illness waiting period, sub-imits etc. need your utmost attention. The low premium may come with a lower coverage and there is no point of buying a policy with an insufficient cover.
Not Revealing Personal or Medical History
Many people rule out divulging important information to the insurers like having a medical history or a bad habit that could result in serious trouble. This is purposely done to avoid a high amount of premium, but what they don't realize is that the concealed information will be uncovered once the claim is registered. And unfortunately, it will be rejected based on the ground of misleading the insurer. The point is that you need to understand how hard you try, the insurer will find out.
Not Considering the Additional Covers
Add-on covers are important which boost the basic insurance cover. There are certain expenses not covered under a basic cover such as OPD expenses, daily cash etc. The insured should consider these by opting for an additional cover. Also, always zero down on the insurer that offers maximum options for rider benefits.
Consider Health Insurance Only as a Tax Paying Instrument
70% of people think of health insurance as a tax-saving instrument. Definitely, it offers tax benefits, but it shouldn’t be the root cause of buying health insurance plans. A medical emergency may strike any time and you should be prepared for it financially. Hence, you should consider health insurance to keep your savings intact.
Wrapping it Up!
Health insurance comes in handy in times of need. And the rule of thumb is that you should ensure the right health insurance providers in India. With plenty of insurance companies offering their products, many a time choosing the right option can be daunting. Here comes the online comparison to your rescue. So, go ahead with this approach and get your best bet.