Best Health Insurance Companies in India
Health insurance companies provide a financial safety net by covering the high costs of medical treatments, surgeries, and hospitalization. These companies offer health insurance policies well-suited for individuals, families, senior citizens, women, and parents.
Health insurance is a crucial investment. Currently, 33 health insurance companies offer over 100 health plans to help you with this important decision.
IRDAI has registered 25 general insurance companies and 8 standalone health insurance companies to cater to health insurance needs. However, selecting the best among these can be challenging. This comprehensive guide introduces you to all health insurance companies in India, helping you make an informed decision.
List of Health Insurance Companies in India 2026
Before delving into the details, here’s a glance at the list of health insurance companies in India and related facts:
| Name of the Company | Network Hospital | Incurred Claim Settlement Ratio- FY23 | Solvency Ratio- FY23 | View Company Page |
|---|
| Star Health and Allied Insurance Co. Ltd. | 14000+ | 66.47% | 2.1 | |
| HDFC ERGO General Insurance Co. Ltd. | 16,000+ | 87.70% | 1.8 | |
| ICICI Lombard General Insurance Co. Ltd. | 10,800+ | 70.79% | 2.5 | |
| IFFCO Tokio General Insurance Co. Ltd. | 7000+ | 86.33% | 1.7 | |
| Kotak Mahindra General Insurance Co. Ltd. | 11,200+ | 65.56% | 1.8 | |
| Aditya Birla Health Insurance Co. Ltd. | 11000+ | 68.31% | 1.9 | |
| Care Health Insurance | 24,800+ | 57.69% | 1.7 | |
| ManipalCigna Health Insurance Co. Ltd. | 8,500+ | 63.78% | 1.6 | |
| Niva Bupa Health Insurance Co. Ltd. | 10000+ | 59.02% | 2.1 | |
| Acko General Insurance Ltd. | 10,500+ | 69.57% | 2.2 | |
| Bajaj General Insurance Co. Ltd. | 18400+ | 73.80% | 3.6 | |
| Cholamandalam MS General Insurance Co. Ltd. | 12,000+ | 73.66% | 1.8 | |
| ZUNO Health Insurance Co. Ltd. | 10000+ | 82.64% | 1.7 | |
| Future Generali India Insurance Co. Ltd. | 8430 | 71.85% | 2.2 | |
| Go Digit General Insurance Ltd. | 8,800+ | 70.32% | 1.6 | |
| Liberty General Insurance Ltd. | 5000+ | 75.29% | 1.8 | |
| Magma HDI General Insurance Co. Ltd. | 8400+ | 79.88% | 2.1 | |
| Navi General Insurance Ltd. | 12,000+ | 52.40% | 3.5 | |
| Raheja QBE General Insurance Co. Ltd. | 5000+ | 77.91% | 2.1 | |
| Reliance General Insurance Co. Ltd. | 10,000+ | 81.06% | 1.6 | |
| Royal Sundaram General Insurance Co. Ltd. | 11,800+ | 77.62% | 2.5 | |
| SBI General Insurance Co. Ltd. | 16,625+ | - | 2 | |
| Shriram General Insurance Co. Ltd. | 9,500+ | 63% | 4.4 | |
| Tata AIG General Insurance Co. Ltd. | 11,000+ | - | 2 | |
| Universal Sompo General Insurance Co. Ltd. | 4000+ | 81.74% | 1.7 | |
| National Insurance Co. Ltd. | 3000+ | 95.90% | 0.4 | |
| The New India Assurance Co. Ltd. | 3000+ | 97.36% | 1.7 | |
| The Oriental Insurance Co. Ltd. | 3500+ | 98.89% | 0.9 | |
| United India Insurance Co. Ltd. | 14000+ | 96.50% | 0.4 | |
| Galaxy Health and Allied Insurance Co. | 1670+ | NA | NA | |
| Narayana Health Insurance Ltd. | 21+ | NA | NA | |
You can explore our data labs for more information on health insurance companies and India’s insurance industry insights.
Best Health Insurance Companies In India: Key Features
To help you understand the best health insurance companies in India, we’ve highlighted some key features:
Stand-Alone Health Insurance Companies In India
Did you know?
Star Health Insurance, established in 2006, was the first standalone health insurance company in India.
Star Health and Allied Insurance Co. Ltd.
Company Highlights
- The company has successfully covered over 17 crore lives since its inception.
- 90% of cashless claims are settled within 2 hours.
- Offers multiple discounts for maintaining healthy lifestyles, online purchases, non-smokers, and more.
Product Highlights
- One of the first health insurers to provide medical coverage for Autism.
- Offers a 360-degree wellness program for overall health benefits.
- Achieved an industry-first milestone with over 100 claim transactions processed through NHCX.
Care Health Insurance
Company Highlights
- 24x7 digital customer support via chatbots, WhatsApp updates, and more.
- The Care Health App makes health insurance accessible anytime, anywhere.
- Instant 5% discount on online Care health plan purchases.
Product Highlights
- Buy health plans with a sum insured as high as ₹6 crore.
- No pre-policy medical check-ups for most health plans.
- Unlimited automatic recharge available with Care health plans.
Niva Bupa Health Insurance Co. Ltd
Company Highlights
- The Niva Bupa Health Insurance app makes it easier for you to access your health plan details.
- Rated India’s best health insurer for 2023 by ’The Mint’.
- Offers specialized diabetes and hypertension health plans.
Product Highlights
- No sub-limits for OPD benefits or ICU room rent.
- In-patient hospitalization is covered even if you are admitted for 2 hours.
- Health plans covering advanced procedures such as surrogacy and adoption.
Aditya Birla Health Insurance
Company Highlights
- Over 2.5 crore lives insured since inception.
- An impressive 96% claim settlement ratio for FY 2022-23.
- Offers chronic management programs for ailments like asthma, blood pressure, cholesterol, and diabetes.
Product Highlights
- Earn 100% of your premiums paid as health returns by achieving 10,000 steps.
- Certain health plans have no limit on hospitalization expenses.
- Features like unlimited sum insured reload/refill, and more.
ManipalCigna Health Insurance
Company Highlights
- Choose from over 15 expert-designed health insurance products.
- 94% cashless approvals settled within 2 hours.
- Avail up to 40% discounts.
Product Highlights
- Staggered and lump sum payout options under critical illness plans.
- Education cover in case of accidental disablement or accidental death.
- Reduced waiting period to 90 days for many senior citizen health insurance plans.
Galaxy Health and Allied Insurance Co.
Company Highlights
- A recently IRDAI-licensed standalone health insurance company.
- Acquired license in March 2024.
- Has launched two comprehensive health insurance products to date.
Product Highlights
- Instant care coverage for asthma, blood pressure, and cholesterol from the 31st day.
- Covers normal and caesarean delivery.
- Get wellness program benefits and exciting discounts.
Narayana Health Insurance Ltd.
Company Highlights
- A new venture by the Narayana Health hospital chain.
- Aims to simplify universal healthcare through innovative health insurance products.
- Contributing to the vision of ’Insurance For All by 2047’.
Product Highlights
- No waiting period for benefits.
- You will get comprehensive coverage.
- Coverage up to ₹25 Lakh.
Private Health Insurance Companies
Acko General Health Insurance
Company Highlights
- Initiated in 2016.
- Catters directly to customers.
- Zero deductions on claims.
Product Highlights
- Offers health plans up to ₹1 crore.
- Unlimited restoration of the sum insured.
- Various add-ons available, such as doctor-on-call and room rent waiver.
Bajaj General Insurance
Company Highlights
- A joint venture between Allianz SE and Bajaj Finserv Limited.
- Settles claims up to ₹20,000 through the insurer’s app ‘Caringly Yours’.
- In-house health administration team.
Product Highlights
- 24/7 unlimited teleconsultation coverage.
- Avail wellness benefits.
- Features such as children’s education benefits, hospital confinement allowance, and accidental hospitalization expenses.
Cholamandalam MS General Insurance
Company Highlights
- Settled over 127,000 claims in FY 2023-24.
- Over 12,000 cashless network hospitals.
- Offers individual, family, travel, and home insurance.
Product Highlights
- Sum insured restoration available across multiple health plans.
- Global hospitalization for extended healthcare.
- Reimburses specialist consultations.
Future Generali Health Insurance
Company Highlights
- A joint venture between Generali and Future Group.
- Future Generali is among India’s top 10 private general insurance companies.
- Provides health plans across various categories, including individual plans, family plans, motor insurance, travel insurance, and more.
Product Highlights
- FG Pocket Clinic provides specialized doctor’s consultations right at your fingertips.
- Special health plans for women offer the latest treatments.
- Versatile health plans for HIV and disability.
Go Digit General Insurance
Company Highlights
- Commenced operations in 2016.
- Awarded ‘Digital Insurer of the Year’ in 2021.
- Covered over 50 lakh customers.
Product Highlights
- Offers a wide range of products including health, business, travel, and more.
- Most health plans have no age-based co-payments.
- No room-rent limits for most Digit health insurance plans.
HDFC Ergo Health Insurance
Company Highlights
- HDFC Ergo settles one claim every minute.
- Claim approvals within 38 minutes.
- 24/7 customer service available in 10 languages.
Product Highlights
- Double your coverage from day one with plans like HDFC Ergo Optima Secure.
- Renewal health check-ups available for policyholders.
- Avail medical treatments in India and overseas.
ICICI Lombard General Insurance
Company Highlights
- Initiated operations in 2001.
- Avail quick claim intimation and settlement with ICICI health insurance.
- Get answers to all your queries with the ICICI Health Insurance mobile app.
Product Highlights
- Earn reward points by engaging in wellness activities with ICICI health plans.
- Avail up to 12.5% discounts on health booster policy when purchasing a health plan for 3 years.
- Restore the full sum insured in case of coverage shortage.
IFFCO Tokio General Insurance
Company Highlights
- Serving the market for 20 years.
- IFFCO-Tokio has a wide presence in rural areas and Tier 2, 3, and 4 towns.
- First private health insurer to set up Bima Kendras to increase insurance penetration.
Product Highlights
- Provides a wide range of health plans with a sum insured of up to ₹1 crore.
- No co-payments.
- No medical tests required up to 60 years of age.
Kotak Mahindra General Insurance
Company Highlights
- Commenced operations in 2015.
- 24/7 customer care assistance.
- Instant policy issuance with zero paperwork.
Product Highlights
- Avail free annual health check-ups under specific Kotak health plans.
- Provides extensive rewards for maintaining a healthy lifestyle.
- Optional covers available, such as home nursing and convalescence benefits.
Liberty General Insurance
Company Highlights
- The insurer commenced operations in 2013.
- Present in 95 cities with 110 offices nationwide.
- Easy access to cashless hospitalization with a nationwide network of hospitals.
Product Highlights
- For every claim-free year, your base sum insured increases by 10%.
- Provides health plans with a high sum insured of up to ₹1 crore.
- Opt for deductibles up to ₹40 lakh with certain Liberty health plans.
Magma HDI General Insurance
Company Highlights
- Jointly held by Adar Poonawalla (90%) and Rising Sun Holdings Pvt Ltd.
- 97% claim settlement for FY 2022-23.
- 4.4 million active customers.
Product Highlights
- A wide product portfolio with over 70 products across different categories.
- Multiple features available, such as psychiatric treatments and IVF treatments.
- Early joining benefits for policyholders under 40 years of age.
Navi General Insurance
Company Highlights
- Navi General Insurance is part of the Navi Group, founded by Sachin Bansal.
- Instant policy approval from anywhere in India.
- Buy directly from Navi General Insurance and save on commissions.
Product Highlights
- Offers motor, travel, and home insurance products, along with exclusive health plans.
- Navi Health plans cover 100% of hospital bill payments.
- No room-rent limit.
Raheja General Insurance
Company Highlights
- A joint venture between Rajan Raheja Group and QBE Insurance.
- A wide network of over 5,000 network hospitals.
- Promises complete transparency to policyholders regarding all insurance queries.
Product Highlights
- Offers RQBW surrogacy and oocyte donor insurance plans.
- Provides wide coverage for cancer treatments and other critical illnesses.
- Covers up to 6 family members under certain health plans.
Reliance General Insurance
Company Highlights
- The company was formed in 2000 as a wholly-owned subsidiary of Reliance Capital.
- 24/7 claim assistance.
- Tax benefits under Section 80D.
Product Highlights
- Unlimited reinstatement of the base sum insured.
- Features available include coverage for COVID-19 and no room-rent limit.
- Offers health plans with a sum insured up to ₹5 crore.
Royal Sundaram Health Insurance
Company Highlights
- Over 2.8 crore customers served to date.
- Cashless claims available nationwide.
- EMI options and expert medical care available to all policyholders.
Product Highlights
- Health plans provide hospital cash benefits for 30 days.
- Reload the sum insured at no extra cost.
- Worldwide hospitalization and emergency evacuation provisions.
SBI General Insurance
Company Highlights
- Launched in 2009 as a joint venture between the State Bank of India and the Insurance Australia Group.
- 24/7 customer support available.
- Values transparency, empathy, and agility.
Product Highlights
- Covers medical expenses for NRIs during their stay/visit in India.
- SBI Health plans cover mental illness and HIV/AIDS.
- 100% automatic reinstatement of the sum insured.
Shriram General Insurance
Company Highlights
- A joint venture between Shriram Capital Limited and Sanlam Limited (South Africa).
- Awarded ’Best General Insurance Company Of The Year 2019’.
- Over 60 lakh happy customers served.
Product Highlights
- Renew health plans up to 70 years of age.
- Special health plans for vector-borne diseases.
- Provides insurance products for cars, bikes, personal accidents, and more.
Tata AIG General Insurance
Company Highlights
- Over 5 crore customers served since inception.
- Covers over 190 locations under travel insurance.
- Smooth and hassle-free paperless procedures.
Product Highlights
- No sub-limits on hospital room rents.
- No co-pay.
- Health plans covering COVID-19.
Universal Sompo General Insurance
Company Highlights
- Commenced operations in 2007.
- Provides government schemes like Pradhan Mantri Fasal Bima Yojana.
- Offers unique annual multi-trip travel insurance.
Product Highlights
- Over 15 health insurance plans available to customers.
- Provides outpatient dental treatments, vaccinations, and more.
- Health plans available up to ₹3 crore.
Zuno General Insurance
Company Highlights
- Awarded ’General Insurance Company of The Year’ for 2024.
- Formerly known as Edelweiss General Insurance, Zuno commenced operations in 2017.
- Restore and recharge 100% of your base sum insured.
Product Highlights
- Avail complimentary annual health check-ups after every claim-free year.
- Health insurance riders like the Health 241 add-on and Newborn Care are available.
- Free telemedicine facility.
Public Health Insurers
National Insurance Company Limited
Company Highlights
- Formed in 1906, the company is one of the first health insurers in India.
- The first company to introduce ’Office on Wheels’ in India.
- 24/7 live chat support.
Product Highlights
- Offers a wide range of insurance products, including personal accident plans, health plans, auto insurance, and marine insurance.
- Multiple health plans offer coverage for adventure sports.
- No pre-policy medical check-ups up to 45 years of age.
The New India Assurance
Company Highlights
- Operational in 25 countries worldwide.
- Over 2 crore insurance policies issued.
- A pioneer in the insurance industry for over a century.
Product Highlights
- Provides insurance products across over 15 categories.
- Covers injuries and hospitalization related to hazardous sports.
- Avail annual health check-ups with multiple New India Assurance health plans.
The Oriental Insurance
Company Highlights
- The company was incorporated in 1947 and was a wholly-owned subsidiary of LIC from 1956 to 1973.
- 95.49% claim settlement ratio.
- 24/7 customer support.
Product Highlights
- Oriental health plans offer sum insured enhancement after every three claim-free years.
- 25% additional daily cash benefit granted to women under the Oriental Happy Cash Plan.
- Multiple health insurance plans available with high sum insured.
United India Insurance
Company Highlights
- The company was incorporated in 1938.
- Provides health insurance services in Tier 2 and 3 towns and villages through micro offices.
- Catering to a large rural population, they successfully bring government health insurance plans to the masses.
Product Highlights
- Offers organ donor benefits.
- Option to waive off co-payments from United India Insurance plans.
- Generous cumulative bonuses available.
Standalone and General Health Insurance Companies: The Difference
Standalone health insurance companies offer only health, accident, and travel insurance. In contrast, general insurance companies sell motor insurance, home insurance, fire insurance, automobile insurance, and more. Refer to the table below for a better understanding.
| Features | Standalone Health Insurance Companies | General Insurance Companies |
|---|
| Core Focus | Focuses exclusively on health insurance products. | Offers a wide range of insurance products, including health, motor, and home insurance. |
| Product Range | Limited to health insurance, offering deeper specialization and innovation. | Offers a broader product range. |
| Expertise | Possesses in-depth knowledge and experience in health insurance, offering tailored solutions. | Possesses expertise across various insurance domains. |
| Claim Settlement Process | Standalone health insurance companies often have streamlined and efficient claim settlement processes due to their focused operations. | Can be more complex for general insurance companies, as they handle various insurance products. |
| Services Offered | May offer more specialized and personalized customer service for health-related queries. | May have a broader range of customer service needs to address. |
Features Of The Best Health Insurance Companies In India?
Selecting the right health insurance provider from the long list of health insurance companies in India can be tedious. Consider the following guide to choose the right fit for you:
Claim Settlement Ratio
It is the ratio of health insurance claims settled by the company to the number of health insurance claims received in a financial year. A high CSR indicates trust and reliability of the health insurer among their past and current policyholders.
Customer Reviews
Word-of-mouth is one of the strongest modes of marketing. Ask around about the health insurance provider you are considering and get first-hand feedback. You can also check websites like PolicyX.com for honest customer testimonials.
Industry Recognitions
The best health insurance companies have created a legacy of trust and reliability. Examine each health insurer’s achievements and accolades to understand their standing in the industry.
Health Insurance Products
A health insurance product portfolio is a key factor before investing in any health insurance company. Look at the variety of healthcare products an insurer offers to cater to your different needs. For example, health insurance plans for women are becoming increasingly popular; check whether your selected insurer offers one.
Economical Health Plans
Premium pricing is a primary factor when purchasing a health insurance plan. Review the list of health insurance companies to ensure there are no hidden charges or clauses that may unrealistically increase your health insurance premiums.
How to Choose the best health insurance company in India?
Consider this checklist as your guide to selecting the best health insurance company:
Look For A Wide Product Portfolio
Many health insurance companies offer basic individual and family floater health plans, while others have need-specific health plans—for example, health plans for autism and vector-borne diseases.
Check The Incurred Claims Ratio
Consider the incurred claims ratio before selecting your health insurance company; it indicates the insurer’s reliability. The incurred claims ratio is the ratio between the total claims paid and the amount of premiums received by the health insurance company in a financial year.
Understand Customer Service Efficiency
Check if the health insurer provides good customer support during difficult times to ensure smooth hospitalization and treatment.
Turn Around Time for Claim Settlement
Ask the health insurance company about the turnaround time for claim settlements. Understanding the insurer’s efficiency in claim settlement is a crucial factor when buying health insurance.
Reviews and Ratings
Health insurance company reviews are important as they provide a real-time picture of how the company performs during times of need for its customers. Check reviews and ratings from reliable sources to understand the health insurance company’s efficiency.
Top 10 health insurance companies in India as per the claim settlement ratio
Choosing the right health insurance company is a crucial factor. Visit our page to find answers on how to choose the best health insurance plans in India. Here are the best health insurance companies based on their claim settlement ratio.
| Health Insurance Companies in India | Claim Settlement Ratio (FY 2022-23) |
|---|
| Care Health Insurance Co. Ltd. | 100% |
| Niva Bupa Health Insurance Co. Ltd. | 100% |
| ManipalCigna Health Insurance Co. Ltd. | 99.96% |
| Star Health Insurance Co. Ltd. | 99.21% |
| Aditya Birla Health Insurance Co. Ltd. | 99.01% |
| Reliance General Insurance Co. Ltd. | 98.75% |
| HDFC ERGO General Insurance Co. Ltd | 98.59% |
| Zuno General Insurance Co. Ltd. | 98.54% |
| ICICI Lombard General Insurance Co. Ltd. | 98.53% |
| Acko General Insurance Ltd. | 97.68% |
Check out IRDAI’s New Rules for Health Insurance Companies in India.
Major Indian Health Insurance Companies by Market Share- 2026
Recently, the General Insurance Council published data revealing the leading non-life insurance companies in India, based on premiums collected from April to September 2024.
New India Assurance claimed the top spot, securing a substantial ₹19,400 crore in premiums. Close behind were ICICI Lombard and Bajaj Allianz, with collections of ₹14,400 crore and ₹10,550 crore, respectively.
United India Insurance and Oriental Insurance rounded out the top five, collecting ₹10,100 crore and ₹10,050 crore, respectively. Other notable players in the top ten include Tata AIG, HDFC Ergo, National Insurance, Star Health and Allied, and Reliance General.
Collectively, these top ten health insurance companies accounted for a significant 68% of the total premium collection. Refer to the table below for individual percentages.
| General insurers/health insurers | Total Premium Collections (in Rs. Crore) | Market Share (%) |
|---|
| The New India Assurance | 19390.98 | 12.60 |
| ICICI Lombard | 14408.79 | 9.36 |
| Bajaj General Insurance | 10557.14 | 6.86 |
| United India Insurance | 10067.7 | 6.54 |
| The Oriental Insurance | 10052.25 | 6.53 |
| Tata AIG | 8946.44 | 5.81 |
| HDFC Ergo | 8881.29 | 5.77 |
| National Insurance | 7864.02 | 5.11 |
| Star Health & Allied Insurance | 7813.29 | 5.08 |
| Reliance General | 7279.87 | 4.73 |
Insurance Company vs Insurance Aggregators vs Insurance Brokers
Here is the difference between insurance companies, insurance aggregators, and insurance brokers. Read below to learn more.
| Insurance Company | Insurance Aggregators | Insurance Brokers |
|---|
| Responsible for creating insurance products. | Third-party entities that list all available insurance options. | Acts as a mediator between an insurance company and its customers. |
| Their main role is to create insurance products for customers. | Their main role is to offer a platform where buyers can compare different plans. | Their main role is to sell insurance products on behalf of the insurance company. |
| They are responsible for settling the claims. | They sometimes advocate on behalf of customers for claims. | Their role is limited to selling and the renewal process. |
Why Compare Health Insurance Companies?
Selecting the right health insurance company is crucial. A thorough comparison of health insurance companies in India will provide insight into their discounts, offers, coverage features, wellness benefits, riders, additional covers, and more.
After comparing all important features with PolicyX, you can invest in the best health insurance company for yourself and your family.
Steps To Buy Health Policy From Top Health Insurance Companies With PolicyX
The buying process at PolicyX is highly efficient. Follow these steps to buy the best health insurance policy from trusted insurers:
Step 1
Visit the official website of PolicyX.
Step 2
Click on "Buy Now".
Step 3
Fill in all necessary details, such as the number of family members you want health insurance cover for and your age, then click on "View Plans".
Step 4
Compare and select the best health insurance plan, then pay the required premiums.
Wrapping It Up
Your healthcare needs are unique and should be personalized. The health insurance industry is rapidly expanding, estimated to be a whopping ₹1.5 trillion industry as per Mordor Intelligence.
However, amidst the vast number of health insurance companies in India, it is essential to select the right one for you and your family. This article aims to provide a transparent and concise guide on how to select the best health insurance company. For further clarification, connect with our insurance experts at 1800-4200-269.
ChatGPT
Claude
Perplexity
