Health Insurance Companies in India March 2023

Top 10 Health Insurance Companies in India 2023

Planning to buy a best health insurance policy? Choose plans from the 10 best health insurance companies in India. PolicyX has narrowed down your search for the best health insurance company by recommending you a list of the 10 best health insurance companies in India.. These companies have been chosen based on a combination of high claim settlement ratio, vast network hospital list, above-mandate solvency ratio, and high annualized premium volume.

A quick glance at top health insurers based on key factors.

How to Choose the Best Health Insurance Company?

Before purchasing a mediclaim, consider the below-mentioned aspects to choose the best health insurance company in India out of all 28 options and co-relate them with your specific needs and preferences.

1. High coverage with low premiums

   Always go for a company that offers maximum coverage and doesn't burden your pockets. Compare the coverage and premiums of several plans before choosing your ideal health insurance company.

2. Look for a vast list of network hospitals

   Having a health insurance plan from a company that has a vast list of network hospitals can help you avail cashless facilities at the time of medical emergencies.

3. Look for variety

   Choose a health insurance company that offers a variety of health insurance plans to choose from. This will allow you to choose and customize your plan as per your own specific needs.

4. 24*7 customer care support

   A company that is always available to look after your insurance-related queries by offering 360-degree customer support (chatbot, emails, calls) will guide you properly in times of confusion and stress.

5. Hassle-free online services

   In this era of digitalization, choose a company that saves your time and energy by providing online services such as claim intimation, renewal or even buying.

6. Checking the Business Dimensions of the company

   One of the best parameters for choosing the best health insurance company is business volume. This is the number of policies sold and premium collected by an insurance company. Higher volume means greater trust among the customers.

7. Look for the all round coverage

   Choosing the best health insurance company includes security against a wide range of medical problems, and having benefits including pre and post hospitalization, daycare expenses, transportation, illnesses that you may be at risk of due to your family's medical history, etc. Consider your requirements, compare plans and their benefits and costs of premium of different companies, and apply a little due diligence to choose the company that caters to your needs.

8. Claim Settlement of the Company

   A company with a smooth claim process must be considered as the best option for choosing the best health insurance company. In the middle of an emergency nobody wants to go through a time consuming and complicated process. So a company with hassle-free claim settlement process can save a lot of effort.

9. Compare the ratings

   Reviews from existing policyholders about a health insurance company helps you make an informed decision. For this, you can read customer reviews of different insurance companies on their official website or contact Policyx for more information and go for the company that has positive feedback. This will help you to make a better choice among the top Health Insurance Companies.

10. Network hospital coverage

    Choose the best health insurance company with maximum hospital coverage. Once you have a selected list of health plans, check whether or not your preferred hospitals and doctors are included in their hospital network. Always prefer an insurance provider that has a wide network of hospitals across the world. You can choose from network hospitals where you can avail quick, convenient and cashless claims settlement.

11. Check the Co- Payment Clause

    A lot of people find this term difficult to understand and tend to ignore it at the time of policy purchase. A co-payment clause is an agreement, where the insured agrees to pay a certain percentage of the claim amount in case of hospitalization and the rest claim amount is paid by the insurer. Therefore, before buying a policy from a health insurance company check if there is any co-payment clause applicable that might impact the claim amount. Go for the health insurance companies and their plans that do not have sub-limits. However, most health insurance policies include a co-payment clause for insureds who have any pre-existing illness or have crossed a certain age limit.

12. Compare Premium

    It is one of the most important aspects while selecting the best health insurance company in India. As there is an extensive range of health insurance companies available in the market, make sure to compare the policies in terms of features, benefits, premium rates, claim settlement ratio, etc. By comparing various aspects online one can choose the company with their most comprehensive plan at a comparatively lower premium rate.

13. Check The Digital Presence of the company

    It is vital that you buy a health insurance plan from a health insurance company that has a strong digital presence so that it is easier for you to purchase the plan from the comfort of your home. As most insurance-related work now takes place online, you no longer need to visit an insurer's office, chase down insurance agents, pay any brokerage fees, or do any paperwork to get health insurance. All of this may be done easily through the insurer’s official website or an insurance aggregator.

14. Customer Support Service

    Another imperative thing to keep in mind is to check on the customer service offered by the health insurance companies. Customer must make sure to choose a health insurance company that offers 24*7 customer service so that you can get immediate help whenever you want.

Benefits of Best Medical Insurance Company

Purchasing a health plan from the best health insurer makes a huge difference to your overall experience such as:

Conclusion:

Choosing one of the Best Health Insurance companies solely depends on your personal healthcare needs. At times it is possible that the top health insurance companies suggested by us may not fulfill your requirement criteria or may not fit into your budget.

Thus, you can always take a hint from the above-mentioned factors and can choose the ideal health insurance company as per your needs and requirements.