Which is the Best Health Insurance Company in India?

Being India’s first standalone health insurance provider, Star Health Insurance Company started its operation in 2006. Today, Star Health is one of the largest health insurance companies in India. Currently, the company operates through a network of over 290 branch offices across the country. Some benefits offered by Star Health Insurance Company include:

1. It has an in-house claim settlement to deal with a cashless hospitalisation process, improving customer satisfaction. 
2. By designing a special policy, Star Cardiac Care, Star Health Insurance is the first company to offer a plan for people suffering from cardiac ailments. 
3. It also offers a range of products for protecting diabetes and HIV+ patients. 
4. The health plans offered by the company come with a lifetime renewability option. 
5. It has a network of more than 11,000 hospitals for policyholders to avail of cashless treatment. 
6. The company is known for settling 90% cashless claims within two hours. 
7. The insured can also get top-up insurance plans customisable according to their needs.

Established in 2002, the company is a partnership between HDFC and ERGO International AG. HDFC ERGO Health Insurance company is one of the most trusted brands with a customer base of over 1.5 crores. Through a network of 200+ branch offices in the country, HDFC ERGO offers the following benefits to its policyholders:

1. It has an in-house claim settlement process for hassle-free claim settlements. 
2. With a network of more than 13,000 hospitals across India, it offers policyholders easy access to cashless treatment. 
3. The health plans under HDFC ERGO cover medical expenses like ambulance costs, hospitalisation costs, ICU charges, daycare procedures, AYUSH benefits, etc. 
4. The company offers a lifetime renewability option for its health insurance plans. 
5. It has a claim settlement ratio of 90.32%, offering cashless claim approval within 20 minutes. 
6. It also offers a portability option for policyholders switching from one insurer to another.

Aditya Birla Health Insurance Company, a subsidiary of Aditya Birla Capital Ltd., is a joint venture between Aditya Birla Group and MMI Holdings. The company was established in 2015 to simplify health insurance services for its customers. The features and benefits of Aditya Birla Health Insurance include:

1. The company curates customised plans to meet the insurance needs of its customers. 
2. Aditya Birla offers pocket-friendly health insurance policies for different sections of society. 
3. It has various plans for daycare procedures, critical illnesses, cancer, etc. 
4. It offers cashless treatment in more than 9000 hospitals across India. 
5. The insurance provider provides access to 800+ fitness centres, gyms, and more. 
6. The insured can also get discounts on medicines across 2300 pharmacies in 250+ cities in India. 
7. In addition to hospitals, Aditya Birla Health Insurance also provides access to wellness centres, diagnostic centres, and fitness assessment centres. 
8. As per the plan, the insured can avail of in-patient AYUSH treatment coverage under the policy.

Established in 2012, Care Health Insurance Company has shown tremendous growth in a short period. Formerly called Religare Health Insurance Company Limited, it is a subsidiary of Religare Enterprises Limited. Some key features and benefits of the Care Health Insurance plans include:

1. The company has an in-house team for the claim settlement process. 
2. There are various plans to fulfil the needs of different sections, such as individuals, family floaters, senior citizens, and plans for diabetes, hypertension, and serious illnesses like cancer, heart, and kidney issues. 
3. In most cases, the company offers cashless claim approval within two hours. 
4. A specially curated Care Health Care Heart Plan covers expenses for pre-existing health ailments and annual cardiac check-ups. 
5. It offers cashless treatment across 16500+ network hospitals in India. 
6. Almost all Care Health Insurance plans offer an annual health-check facility to the policyholders.

Niva Bupa Health Insurance, one of India’s most popular standalone health insurance companies, was established in 2008. Formerly known as Max Bupa Health Insurance, the company offers health insurance policies for individuals of all age groups, from newborns to seniors. Some benefits of buying a Niva Bupa Health Insurance are as follows:

1. Niva Bupa plans are custom-made to suit the health insurance needs of individuals and families. 
2. It covers hospital room rent, OPD costs, daycare procedures, pre and post-hospitalisation, organ donation, and annual health check-ups. 
3. It has a network of 7600+ hospitals that provide cashless treatment to policyholders. 
4. The company is known for settling 9 out of 10 cashless claims within 30 minutes. 
5. It also provides coverage for life-threatening illnesses under the Niva Bupa Criticare Health Insurance plan. 
6. Some Niva Bupa Health Insurance plans offer international medical coverage for nine critical illnesses in over 190 countries.

ICICI Lombard Health Insurance Company was established in 2001 as a joint venture between ICICI Bank and Fairfax Financial Holdings Limited (Canada). It is among the largest health insurance companies in India. In 2021, ICICI Lombard took over Bharti AXA General Insurance, allowing customers to access a wider distribution network. Some features of ICICI Lombard Health Insurance include:

1. The company has an in-house app called “IL Take Care” for quick claim intimation. 
2. It approves cashless claims within four hours of claim intimation. 
3. It offers comprehensive health insurance plans covering ambulance charges, pre and post-hospitalisation expenses, daycare procedures, hospital costs, AYUSH treatments, domiciliary hospitalisation, etc. 
4. Almost all plans of ICICI Lombard offer free health check-ups after one to four policy years. 
5. It has a network of 6300+ hospitals to help policyholders avail of cashless treatment in a nearby hospital. 
6. It offers tax deductions on the premiums paid up to a maximum of Rs. 55,000.

Bajaj Allianz Health Insurance is a co-partnership between Bajaj Finserv Limited and Allianz SE (a German multinational financial services company). Established in 2001, Bajaj Allianz Health Insurance was the first company to offer captive TPA services with some additional benefits. Some features of the Bajaj Allianz Health Insurance plans include:

1. It has an in-house health administration team and an in-house app for quick claim settlement up to Rs 20,000. 
2. The health insurance company provides a claim settlement response within 60 minutes. 
3. The insurer offers a cashless claim settlement facility in more than 6500 network hospitals. 
4. Three major Bajaj Allianz Health Insurance plans include Health Guard, Silver Health, and Star Package. 
5. It offers health insurance plans for families, individuals, and senior citizens. 
6. It provides tax benefits, cashless treatment, ambulance costs, daycare procedures, daily hospital cash, free health check-ups, etc. 
7. Some specific health plans cover life-threatening illnesses like cancer, tumour, stroke, etc. 

Launched in 2014, Manipal Cigna Health Insurance (formerly known as Cigna TTK Health Insurance) has not been in the insurance sector for long. However, with its insurance features and benefits, it quickly became a part of the top health insurance companies in India. Some features of Manipal Cigna Health Insurance include:

1. It offers cost-effective, customisable plans with a cover of up to Rs. 3 crores to meet the preferences and needs of every customer. 
2. In almost every health insurance plan, the company provides 100% sum restoration of the sum insured. 
3. The insurer provides comprehensive critical illness plans covering about 30 major illnesses. 
4. The policyholder can easily track health insurance claims online.

TATA AIG Health Insurance Company, a joint venture between the TATA Group and American International Group, began operations in 2001. Since then, the company has gained a popular name in the insurance sector. The features of TATA AIG Health Insurance include:

1. The company offers several insurance plans curated for women, families, senior citizens, critical illnesses, and more. 
2. It allows policyholders to buy online health insurance at affordable premiums. 
3. Moreover, it offers lifetime renewability for insurance plans. 
4. The insurer also covers domiciliary and AYUSH treatments.

SBI Health Insurance Company is a joint venture between the State Bank of India and an Australian company. Established in 2009, the company manages its operations from official branches in 110+ cities across India. The features of SBI Health Insurance include:

1. The sum insured for SBI Health Insurance plans ranges from Rs. 50,000 to Rs. 5 lakhs. 
2. Most health insurance plans cover pre and post-hospitalisation expenses.
3. It has a network of 6000+ hospitals for providing cashless treatment to policyholders. 
4. The company ensures claim settlement within 30 days. 
5. The insured can easily renew their SBI health insurance policy online. 
6. Applicants with a clean medical record are not required to undergo a medical screening up to 45 years of age.