Top Health Insurance Company
- Know the Top health insurers
- IRDAI-approved health insurers
- Choose the best health insurers
The question of the hour is, "Are you looking for the best health insurance companies?" If yes, then you are at the right place as we are here to provide you with valid answers to all your important questions.
As per the list generated by IRDAI, 28 general insurance companies offer different types of insurance and 5 stand-alone companies offer only health insurance. Although, when it comes to health insurance companies, all 33 health insurance-providing companies are the best.
Defining the top 10 health insurance companies in India does not depend on a singular factor. However, there are multiple criteria defining the same:
Health insurance is one of the crucial components of financial planning. It offers financial security and peace of mind during the hard times of medical emergencies. In India alone, there are loads of health insurance companies that provide a range of medical policies to their customers. Mostly, they promise quick customer support, easy buying procedures, affordable premiums, great features & benefits, and efficient claim processes. But, it is a confusing task to choose the best policy for us out of so many policies readily available today. To solve this problem, we have a compilation of the best health insurance companies in India that offer you the best health plans.
Explore the Top 10 health insurance companies in India to make a suitable purchase decision for yourself and your loved ones.
We have closely analysed each company and found that these top 10 health insurance companies are the best.
| Insurance Company | Claim Settlement Ratio for FY (2021-22) | Network Hospitals | Solvency Ratio | Incurred Claims Ratio (2023) |
| Star Health and Allied Health Insurance | 99.06% | 14000+ | 2 | 65 |
| Care Health Insurance | 100% | 11400+ | 1.8 | 53.82 |
| Niva Bupa Health Insurance | 99.99% | 10000+ | 1.7 | 54.05 |
| HDFC ERGO Health Insurance | 98.49% | 12000+ | 1.7 | 79.04 |
| ICICI Lombard Health Insurance | 97.07% | 7500+ | 2.5 | 77.33 |
| Aditya Birla Health Insurance | 99.41% | 11000+ | 2.3 | 64.48 |
| ManipalCigna Health Insurance | 99.90% | 8751+ | 1.5 | 64.66 |
| TATA AIG Health Insurance | 93.55% | 10000+ | 3.9 | 78.33 |
| SBI Health Insurance | 95.04% | 6000+ | 1.8 | 73.92 |
| Reliance Health Insurance | 98.65% | 10,000+ | 1.5 | 86.31 |
Any company that sells an insurance policy is the insurance provider. A good insurance company has a high CSR, solvency ratio, good customer reviews, a vast product portfolio, and transparency towards its customers.
Claim Settlement Ratio is the percentage of claims settled by an insurer compared to the total claims received in a financial year. A good CSR lies somewhere between 95 to 99 percent.
All the hospitals that have a tie-up with an insurance company where the policyholders of that company can get cashless treatments are known as the network hospitals.
Solvency ratio denotes the insurer's ability to settle its long term debts by comparing the company's available capital to its total liabilities.
The ratio of the entire claim amount paid by the insurer to the total premium collected in one financial year is called the incurred claim ratio (ICR).
One of the leading standalone health insurance companies, Star Health has amassed a vast customer base and has helped its customers by providing them with comfort and financial security during the hard times. Star Health Insurance has various products of health insurance featuring AYUSH treatment, 14000+ network hospitals for the best Medicare along with domiciliary hospitalization, day-care treatment, and much more.
Care Health Insurance formerly known as Religare Health Insurance is a specialized standalone company in India. With a history dating back to its establishment in 2012, Care Health aims to make quality healthcare accessible to every citizen. They offer very innovative health insurance products that cater to the diverse healthcare needs of individuals and families. With a strong emphasis on customer satisfaction and ethical business practices, Care Health Insurance has established itself as a reliable and reputable entity in the Indian Insurance industry.
A standalone health insurance company, founded in 2008. The main aim of the company is to provide complete protection against your medical bills. Like any wise investment, health insurance by Niva Bupa can be your valued investment partner. Niva Bupa Health Insurance Company is recognised by several awards 'The Economic Times Best Brand- 2019' and many others.
HDFC ERGO Health Insurance Company is a joint venture of HDFC Limited and ERGO International AG. It has become a prominent insurance company that offers a wide range of healthcare coverage solutions. HDFC ERGO is known for its commitment to providing comprehensive and customer-centric health insurance plans. The company has a network of more than 12000+ branches spread across 170+ places. Their dedication to innovation, transparency, and customer satisfaction sets them apart in the insurance sector.
ICICI Lombard Health Insurance company has created a prominent niche for itself in the Indian Insurance sector. It is a joint venture of ICICI Bank Limited from India and Fairfax Financial Holdings Limited from Canada. The company offers a wide range of health insurance that covers the expenses of hospitalization, daycare procedures, ambulance charges, and domiciliary hospitalization.
A subsidiary of Aditya Birla Capital, Aditya Birla Health Insurance is a company that provides several plans to safeguard you in case of a medical emergency. With the plans by Aditya Birla, you will get benefits like cashless treatment, ambulance charges, AYUSH treatment, and much more.
India's second largest healthcare chain, in 2014 Manipal Group came up with ManipalCigna health insurance plans to give financial protection in case of medical emergency. By now they have served up to 1 lakh customers with their top-notch health insurance products.
A joint venture between TATA Group and AIG Group. Tata AIG health insurance plans that cater to the needs of you and various members of your family. They have plans for individuals, families, women, senior citizens, and children.
SBI is the nation's trusted banking option, but yes they offer health insurance products as well. SBI health insurance is one of the fastest-growing private general insurance companies. They are carrying forward the legacy of trust and security of their customers.
Started in the year 2000, the company Reliance Health Insurance is the independent subsidiary of Reliance Anil Dhirubhai Ambani Group. Currently, they have 11 health insurance plans to cater for the needs of the general public.
Look for the following factors to determine the top 10 health insurance companies:
Know More About Health Insurance Companies
You can opt for any health insurance company to get tax benefits under section 80D. You can check the following criteria to understand tax benefits for different individuals.
| Types of Policyholders | Tax Benefit (Deductions) In Rs. | |
|---|---|---|
| Age above 60 years | Age below 60 years | |
| Parents | 50,000 | 25,000 |
| Dependent children | None | 25,000 |
| Spouse and Self | 50,000 | 25,000 |
| Preventive Healthcare | 5,000 | 5,000 |
Insurance holders are eligible to buy health insurance plans with the tax deductions mentioned above.
A reliable health insurance policy is essential for safeguarding your financial well-being in case of unexpected medical expenses. The top 10 health insurance companies listed here can serve as a starting point for your research, but you need to dig deeper before selecting the perfect insurance policy for yourself. So, we have chosen these top 10 health insurance companies among 30 companies based on
To know more about health insurance. If you have any doubts, you can call us at the toll-free number 1800-4200-269
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An explorer and a curious person, Simran has worked in the field of insurance for more than 3 years. Traveling and writing is her only passion and hobby. Her main agenda is to transform insurance information into a piece that is easy to understand and solves the reader’s query seamlessly.
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