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Health Insurance these days is nothing less than a necessity. Having an ideal Health Insurance plan ensures that you and your family are protected from a financial bubble during announced medical emergencies.But have you ever thought about what will happen if your Insurance company is not able to settle your claims on time? What will happen to your loved ones if they are not able to avail the benefit of having Health Insurance? All your savings will be wiped off. Your family might have to suffer due to these untoward situations.
To avoid yourself and your family from such a senario, it is recommended to always check the claim settlement ratio before buying your ideal health insurance company.
Now you must be wondering what is a Claim Settlement Ratio, and how is it important? Read along to find out yourself.
Claim settlement ratio or CSR is the percentage of claims that an insurance company settles during a financial year against the total number of claims raised. It acts as an indicator of their credibility.
It is recommended to go with a company that has a higher claim settlement ratio, as the general rule is the higher the ratio, the more reliable the health insurance company is. This factor tells you the ability of the company to settle claims and helps you understand the history and performance of the insurer.
If by now you have decided to buy a health insurance plan by Niva Bupa Health Insurance, then, lets discuss the Niva Bupa Health Insurance claim settlement ratio in a little more precise way.
According to the IRDAI Annual Report 2021-22, Niva Bupa settles 99.99% of claims within 3 months. The higher the percentage of claim settlement ratio, the better the ability of an insurance company to settle claims. Hence, the high claim settlement ratio makes Niva Bupa Health Insurance trustworthy for its valued customers.
As per the IRDAI Annual Report 2021-22, if we look at the Claim Settlement ratio of other companies, the Niva Bupa settlement ratio comes in the top five.
Status of Niva Bupa 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 |
Claims Settled | 99.99 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
For Cashless Claims:
Max Bupa Health Insurance Network Hospitals are present in 32 states nationwide. With a wide network of hospitals, Max Bupa Health Insurance ensures that you are medically secured, irrespective of the city you reside in.
Reimbursement Claim Settlement Process
Niva Bupa Health Insurance company offers several tailored health plans that are designed to serve you in the best way possible. Take a look:
An individual and family plan that covers all day care treatments, modern treatments, comes with a safeguard add-on and provides annual health check-ups.
Unique Features
A policy for you and your family which covers modern treatments, laser surgery, e-consultations, annual health check-ups, and coverage of 3 Crores.
Unique Features
A budget-friendly health insurance plan that offers coverage to individuals and families with tailor-made benefits and great value for money.
Unique Features
A super top-up plan providing extra coverage to you and your family on the basis of deductible with SI options of up to 95 lakhs.
Unique Features
Buy a cover of up to 2 crores to secure you and your loved ones against 20 major critical illnesses with the Niva Bupa CritiCare plan.
Unique Features
Offers personal accident cover of up to 2 crores on an individual and family floater basis. Pays 100% of SI to your family in case of accidental death.
Unique Features
A modern-day digital insurance plan offering you cashless OPD and diagnostic services along with basic coverage and healthcare benefits.
Unique Features
A complete health plan, providing a wide range of medical benefits along with global emergency coverage.
Unique Features
A unique health insurance plan that combines the benefits of basic SI and top-up cover to offer enhanced protection to individuals and families.
Unique Features
A plan providing comprehensive protection to senior citizens with multiple coverage options counting from 5 - 25 Lakhs.
Unique Features
An individual and family health plan, providing a cover of up to 1 crore at affordable premiums combined with advanced features and benefits.
Unique Features
Max Bupa Health Insurance Network Hospitals are present in 32 states nationwide. With a wide network of hospitals, Max Bupa Health Insurance ensures that you are medically secured, irrespective of the city you reside in.
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Vishal Singh
Delhi
September 27, 2022
I want to thanks Atul Bhardwaj he suggested me good policy and provide me good comparison which help me to choose best plan...........
Sagar Jain
Delhi
September 14, 2022
Very Good Organization, Very Decent Staff. Sales team is very good, they are following clients in proper manner
Mohan Bhargava
Chandigarh
September 14, 2022
Best company I ve ever seen. Good service. Politely way of talk. An employee of policy x is Azhar (13272) a best advisor. Good knowledge about the product and companies.
Kakali Bagchi
Kolkata
September 14, 2022
The people who is seating in policyx.com are vary supportive and they guide for the best policy and they help after sale also
Simran
Delhi
June 3, 2022
I must say that they truly process claims in under 30 minutes. It really is true and not just one of those hoax promises by a brand.
Nivedita
Hyderabad
June 3, 2022
I have been their customer for years. Its hassles free, convenient, and most importantly, the team is proactive in their dealings. Great Job!
Isha
Jaipur
June 3, 2022
Good company/. I have a good experience with this company especially when it came to a quick claim settlement process.
Khushwant Kumar
Agra
August 12, 2021
thanks policyx itna help karne ke lie. Good luck. Sahi plan mil gaya mere conditions ke hisaab se. Very happy.
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.
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