Health insurance no more remains a luxury for any Indian; in fact it’s an essential need. Disposable incomes are increasing, but still we are unable to afford the hospital expenses due to the alarming rate of medical rates. Hence, we just can’t depend on the savings, friends, families or relatives to treat ourselves or our loved ones. It is essential to have an independent health insurance cover for the members of family.
But, even after the realization of the health insurance need, we may find it confusing to get the right health policy with numerous health insurance companies in today’s market. Hence we have listed top 10 health insurance companies in India with their popular products.
This article must be considered as an introduction for the top health insurance companies and their products. To purchase a health insurance policy, kindly read the basics such as waiting period, loading, exclusions, how to renew, whom to buy a policy from, pre-existing illnesses, and ways to compare health insurance policies. Only go ahead and buy it after you have clearly understood it clearly.
Let us check some of the best health insurance companies:
1. ICICI Lombard:
ICICI Lombard GIC Ltd. is one of the largest general insurance companies in India that is owned privately. This has some amazing health insurance plans – such as Health Advantage that will cover hospitalization expenses with outpatient expenses including dental. Maternity cover can also be taken under this product. The company also gives you added Health insurance Guide, which is an interactive tool that can be useful for the customer to select a plan according to his requirements.
ICICI Lombard’s popular Product: Health Advantage
2. Star Health & Allied Insurance Company Limited:
Star Health and Allied health Insurance Company Limited (Star Health) is a joint venture company. This includes ETA Ascon Group, Oman health Insurance Company and many other insurance veterans. It is the 1st dedicated health insurance company to be launched in India. This is popular for its innovation; Star has some very different products such as Diabetes Safe for diabetic patients and Star Netplus for HIV+ patients. Star Health insurance has their own in-house TPA to increase efficiency in cashless cases dealing. They have a unique help service, where the customers can call a given toll free number to get free consultations with some general physician.
Star Health & Allied Insurance Company Limited’s Popular Products: Senior Citizen Red Carpet, Star Family Health Optima.
3. Max Bupa Health insurance:
Max Bupa Health Insurance is again a joint venture of Max India Limited and Bupa Group. This is one of the best international healthcare providers that were formed in the year 2010. Max Bupa has brought several changes in the health insurance market among Indian companies with their innovative ideas and customer friendly policies. They have a product of not over loading the customer or no claim bonuses. They don’t have any fixed enrolment age that means any age group people can buy their products. These products have guaranteed renewal that won’t deny your renewal in the age of 70s and 80s when you want it most. Their policy named ‘Heartbeat’ covers maternity as well.
Max Bupa Health insurance’s popular products: Heart Beat Silver, Gold, and Platinum.
4. Apollo Munich:
Apollo Munich Health Insurance Co. Ltd. is the latest name of Apollo DKV Insurance Co. Ltd. that is a partnership among The Apollo Hospitals Group, and Germany based Munich Health. They offer a change in the terms of customer friendly such as lifetime renewal and portability on their existing policies. Hence, you can opt for Apollo’s product and get continuation of the benefits on the existing policy. Apollo Munich products also cover maternity after the waiting period.
Apollo Munich’s Popular Products: Easy Health Gold, Exclusive, Standard and Premium
5. Reliance Health insurance:
Reliance health insurance is one of the biggest privately owned general insurance companies in India. They also have many better health insurance policies that cover critical illnesses. They also give you a choice to reduce the waiting period for already existing illnesses to 2 years as per the industry standard of 4 years. It covers the people within the age group of 5-75.
Reliance Health insurance’s Popular Policy: Health wise Family Floater
6. Bajaj Allianz General Insurance:
Bajaj Allianz General Insurance Company Limited is jointly owned venture by Bajaj Finserv Limited and Allianz SE. Bajaj was the very 1st company that came up with a captive TPA. Health insurance policies under them are Silver health (Senior Citizen) , Health Guard (Mediclaim), and Star package (Family Floater), they also have other plans such as Hospital Cash hat lends you a particular amount every day during the hospitalization and Critical Illness period. This gives a lump sum amount when the insured gets any one of the critical illnesses mentioned in the document such as like cancer during his/her policy period.
Bajaj Allianz General Insurance’s Popular Product: Health Guard
Below is the list of Health Insurance from Public Sector General Insurance Companies:
7. Oriental insurance:
Oriental insurance gives numerous health insurance products such as Individual mediclaim, family floaters and Universal health insurance scheme to their customers. They also have Optional benefits such as Personal Accident and Life Hardship Survival that can be added with already existing basic health cover to get more benefits. The Happy Family floater is the most popular policy among all due to its non- requirement of medical check-up till your age of 60 years, while it is mandatory for each of more than 45 years of age to take a health check-up with other company policies.
Oriental insurance’s popular policy: Happy Family Floater
8. United India Insurance:
United India health Insurance Company Limited is a public sector unit that has many health insurance products including Top-up, Family Medicare- Gold, Platinum, Senior Citizen, and Super Top-up. Top-up and Super Top-up policies provides additional cover amount, in case your basic cover is insufficient.
United India Insurance’s Popular Policy: Family Medicare
9. New India Assurance:
It is the 1st Indian owned companies that formed in the year 1919. This has wide variety of health insurance products such as Mediclaim, senior citizen and
Universal health insurance policy. The best feature of their Mediclaim policy is the different rating for the major metros than other locations.
New India Assurance’s Popular Products: Mediclaim policy
10. National Insurance:
National Insurance has a very popular product named National’s Varishta Mediclaim that covers everyone from the age of 6 years—80 years with added benefits to senior citizens.
National Insurance’s popular product: Varishta Mediclaim
So above mentioned were 10 Top Health Insurance Companies in India. Choose the company that is best for you and family and purchase a health insurance as soon as possible!