How to Choose the Best Health Insurance Company in India?

How to Choose the Best Health Insurance Company in India?

The coronavirus outbreak brought a new wave amongst Indians and made health insurance a new normal amongst citizens. People are now more conscious about their health care and investing happily in health insurance policies. As a result, several leading players of the health insurance industry like ICICI Lombard, Care Health Insurance, HDFC Ergo, etc.customized their health insurance products and offers tailored plans to serve individual health care needs. Of course, customers are in a win-win situation due to cut-throat competition; they get the best deal. However, choosing one of the best health insurance companies in India is not an easy task. It is equally essential that the health insurance provider stand frim on all your expectations so that you can make the most out of your health insurance policy. Below are some quick tips for you that you should consider while making your decision:

Read Inclusions (Coverage)

The first thing you should check about the company is the inclusions of the health policy. It has the scope of coverage, kind of diseases, treatment, medical procedures, and conditions included in the plan. Good health insurance companies offer in-patient hospitalization, pre and post hospitalization, daycare treatments, domiciliary hospitalization, ambulance cover, etc. Additionally, also check if the company covers coronavirus treatment as well.

Check the List of Exclusions

Health insurance companies also have a long list of exclusions. These are the conditions, diseases, medical procedures, and treatments that do not include policy coverage. You are not entitled to get the claim for the same. So, opt for a company like Care Health Insurance with minimal exclusions and give you maximum benefits.

Affordable Premium

Premium should be your prime factor while considering some of the best health insurance companies in India. You can use a health insurance premium calculator available on the companies' official websites to calculate the premium. You can compare the premium amount of different policies and pick the plan with an affordable premium.

Installment Options

These days companies are also providing installment options to their customers. It means that you can pay the premium amount monthly and quarterly installments. This facility does not overburden your monthly budget, and you can stay secure. So, check if the company offers such an option.

Claim Settlement Ratio (CSR)

The claim settlement ratio is also a crucial factor. It is helpful to check the credibility and reliability of the health insurance provider to settle the claim. The higher the claim settlement ratio is, the higher assurance for success and timely claim you get.

Know About Waiting Period

Every health insurance company has a waiting period, which can vary from 30 days to 48 days, depending on the plan. It's advisable to check the duration of the waiting period and what all health expenses you can or cannot claim under the period. Go for the company with less waiting period or offer any add-on benefit to reduce the waiting period.

Check Network Hospitals

You can avail of cashless hospitalization only at network hospitals. You should be aware of the network hospitals where you can get this facility. Get the list of these and check how many are located near to your residence.

Read Online Ratings and Reviews

Before finalizing a health insurance company, you should never forget to check its online ratings and customer reviews. It is beneficial to know how the company deals with its customers and claims settlement.

Grab Add-on Benefits

Inquire about the add-on benefits. Leading health insurance players offer a bunch of add-on benefits like automatic recharge, no claim bonus, reduction in the waiting period, international second opinion, etc. Such benefits enhance the coverage and help you get the best health care.

Best Health Insurance Companies in India

You can check the list of India's five top health insurance providers:

Health Insurance Company

Claim Settlement Ratio

Network Hospitals

Max Bupa Health Insurance



IFFCO Tokio 92.66% 4000+
Care Health Insurance (Formerly Religare Health Insurance) 92.3% 11000+
Star Health 78.15% 8800+
HDFC Ergo 90.32%


Therefore, while choosing among the best health insurance companies in India, you should be acquainted with all the above information. Also, read the benefits of having the right health insurance provider:

How is the Right Health Insurance Company Helpful?

After the pandemic outbreak, health insurance has become the need of the hour. It is helpful to protect yourself and your family during a medical emergency. You can bank upon it at the time of hospitalization. Therefore, it is crucial to choose your health insurance partner carefully. Look at the benefits of having the right health insurance and health insurance provider:

  • Offer immediate cashless hospitalization
  • Coverage for in-patient hospitalization, pre and post hospitalization expenses, domiciliary hospitalization, daycare treatment, ambulance expenses, alternative treatment, and AYUSH treatment
  • Provide a cashless treatment facility and annual health check-up facility at network hospitals
  • Add-ons covers like no claim bonus, global coverage, international second opinion, reduction in PED wait period, etc. extent the policy's scope.
  • Lifelong renewability with an automatic recharge of sum insured is also helpful
  • Tax benefits under Section 80D of the Income Tax Act of India 1961 help to save your money.
  • Treatment coverage for coronavirus including hospitalization and medication
  • Ensure safety and peace of mind

The novel coronavirus pandemic is a global crisis, and it remains like this until the world gets the vaccine. Therefore, it's better to keep yourself and your family protected from COVID 19 and other life-threatening diseases. So, never decide in a hurry. Always read the fine prints and get all the details before you choose one of the best health insurance companies in India. After all, it's the matter of your health care and hard-earned money.

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