Top 6 Best Health Insurance Companies In India: Health insurance is very crucial and important in everyone’s life in today’s world. Insurance Regulatory and Development Authority of India (IRDA) each year announces a list of health insurance companies.
Finding the best Health Insurance Companies is a very tough job and therefore we are providing you the list of top best health insurance companies in India. In order to rate the insurance companies, features like their performances, Incurred Claim Ratio, and overall benefits offered to their customers are considered. So, without wasting any time let’s get started….
Top 6 Best Health Insurance Companies In India
Here is the list of Top 6 Best Health Insurance Companies In India.
Apollo Munich Health Insurance Company Limited
With an outstanding Incurred 62.47% Claim Ratio record for the fiscal year 2017-18, Apollo Munich Health Insurance Company takes the first spot in our list. It also offers additional benefits such as portability as well as lifelong renewability options in its current health insurance plans.
Star Health & Allied Insurance Company Limited
The second spot is taken by Star Health & Allied Insurance Company Limited with an Incurred Claim Ratio of 61.76% for the fiscal year 2017-18. The company has the process of an in-house claim settlement in order to deal with cashless hospitalization facility. Together with this, this insurance company also comes up with a range of remarkable products that offer security to Diabetes as well as HIV+ patients.
Max Bupa Health Insurance Company Limited
The third spot is taken by Max Bupa Health Insurance Company Limited with an Incurred Claim Ratio of 50.19% for the fiscal year 2017-18. This insurance company is considered to be one of the best-known insurance companies available in India. This company not only offers its health insurance policies to specific age groups but to individuals from all age groups.
SBI Health Insurance Company Limited
Very well- known SBI Health Insurance Company Limited secured its fourth position in our list with an Incurred Claim Ratio of 52.93% for the fiscal year 2017-18.SBI Health Insurance Company has also issued 198876 policies.
For those who are not aware, SBI Health Insurance Co. Ltd is a joint venture between the State Bank of India (SBI) as well as Insurance Australia Group. It works and functions out in about 14,000 official branches all over the globe with SBI holding a 74% stake and 26% stake, on the other hand, is held by Insurance Australia Group.
Religare Health Insurance Company Limited
With an Incurred Claim Ratio of 51.97%, Religare Health Insurance Company Limited secured its fifth position in our list. This insurance company has shown marvelous growth in a short span of time, in that way they set a benchmark in the insurance market of India. Religare Health Insurance Company Limited is mainly being appreciated as well as promoted by the Fortis Hospitals.
ManipalCigna Health Insurance Company Limited
ManipalCigna Health Insurance Company was launched in the year 2014 and therefore it is still new to the insurance market. But due to its great growth, the company secured the sixth position with 46.29% Incurred Claim Ratio for the fiscal year 2017-18.
Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company offers some of the best health products that are very beneficial as well as helpful for customers from a particular age group. With an Incurred Claim Ratio of 77.61% for the fiscal year 2017-18, this insurance company got the seventh spot in our list. There are three major health insurance products that have been provided by the company and those are Health Guard, Silver Health, and Star Package.