Buying Health Insurance without knowing the company's performance can cause problems during medical emergencies. One such factor that you should always check at the time of buying Health Insurance is its Claim Settlement Ratio (CSR). Why? Because what's the need for a health insurance plan if your health insurance company is unable to settle your claims on time.
Didn't understand? Well, read along to explore more about the Claim Settlement Ratio and its significance.
The claim settlement ratio or CSR is the percentage of claims that have been paid by an insurance company. In other words, it is the percentage of claims paid out by an insurer during a financial year. The ratio compares the number of claims filed to the number of claims settled.
Health Claim Settlement ratio a number of claims settled/number of claims received * 100
As per IRDAI, Aditya Birla health insurance Claim Ratio is 99.41%. Take a look at the below given table that will let you get an insight into the ability of Aditya Birla Claim Settlement.
|Status of Aditya Birla Health Insurance Claim Settlement ratio- 2021-22|
|Age Analysis of Number of Claims Paid (%)||< 3 months||3 months to 6 months||6 months to <1 year||1 year to <3 year||3 years to <5 years||5 years|
Before purchasing any new goods, we investigate their dependability as well as the brand's reputation. The same is true when purchasing health insurance. Checking the company's claim settlement ratio might provide insight into how the company is functioning in terms of claiming settlement.
It will also provide you with information about the company's capacity to settle claims. The higher the claim settling ratio, the more capable the firm is of settling claims.
Buying a Health plan from a company that possesses a decent claim settlement ratio helps you and your family at the time of announced medical emergencies.
Let's understand this with a simple example:
Mr Arora bought health insurance, but at the time of his wife's surgery his health insurance company delayed the claim settlement process, which resulted in distress among the family members.
With the above example, it is imperative to check the claim settlement ratio of your chosen company. If you have decided to buy health insurance from Aditya Birla, do not forget to check the claim settlement ratio of aditya birla health insurance and compare it with other top isurers.
Know More About Health Insurance Companies
Aditya Birla Health Insurance Network Hospitals are present in 32 states nationwide. With a wide network of over 10051+ cashless hospitals, Aditya Birla Life Insurance ensures that you are medically secured, irrespective of the city you reside in.
Know More About Aditya Birla Network Hospital
There are two types of health insurance claims you can choose from at your own convenience:
Let us take a look at both types of claim filing processes:
** For planned hospitalization, the form needs to be submitted 3 days in advance. For emergency cases, it needs to be submitted within 48 hours after hospitalization.
If you are admitted to a non-network hospital, you have to pay the hospital directly after the treatment is done.
1. To file a claim, submit the documents to Aditya Birla within 15 days of discharge:
The documents required are:
2. After reviewing the documents, Aditya Birla will take the appropriate decision and if approved, the amount will be reimbursed through NEFT to the registered bank account.
**You need to inform the company within 48 hours (in case of emergency hospitalization) and 3 days before your admission (for planned hospitalization).
To check the claim status of your Aditya Birla Health Insurance policy, follow the below steps:
Aditya Birla Health offers a wide range of health insurance plans to fulfill the medical needs of individuals, families, and senior citizens.
A comprehensive health insurance plan that offers comprehensive coverage against medical bills & comes with access to Chronic Management Program.
Activ Assure Diamond is a complete health insurance plan that offers new-age health features at an affordable cost, and covers more than 500 daycare treatments.
A standard health insurance policy, wherein you can choose coverage of up to Rs.1 lac to Rs.5 lacs.
A senior citizen plan that offers complete protection such as nursing at home, AYUSH cover, personal health coach, etc.
A top-up plan offering medical coverage up to Rs. 1 cr. The plan also gives health and wellness discounts.
Specially designed plan to protect you against the rising costs of treatment at every stage of cancer – early, major and advanced.
The Plan is designed to protect individuals and families from all the contingencies (death and disabilities) that occur due to accidents.
The plan is designed to provide financial protection against critical illnesses, & offers compensation against the loss of income arising out of critical illnesses.
See More Health Insurance Articles
See More Health Insurance Articles
Read what our customers have to say about Aditya Birla health insurance company and Aditya Birla health mediclaim policy.
December 9, 2022
Policyx helped me a lot in documentation process, I was skeptical at first but they made my work easy.
November 30, 2022
I bought policy for my family from policy x.com, The advisor is very knowledgable,he suggest me better comparisons of plan and helps me to purchase suitable one. The process was very smooth.
September 2, 2022
Pls Do Your Health Insurance I would Love to Suggest You Health Insurance im glad to have aditya birla Health insurance ❣️
May 26, 2022
I bought an insurance plan to safeguard the future of my child and I am satisfied with the plan as it was customized according to my needs.
February 21, 2022
ABRL is a good company for health insurance. I took senior citizen plan for my parents and happy that they are always there to help my old parents and their problems
February 17, 2022
I made claim for my husband s hand surgery from aditya birla health insurance. I live alone with my husband and got nobody to help but aditya birla helped me in the entire procedure and cashles...
October 19, 2021
very vast range of plans! the premiums are decent for anybody s budget. I would 1000% recommend the comapny
October 18, 2021
It has been an absolute pleasure associating with policyx for my health insurance. They have been very helpful in my decision.
Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.