The top-ranked health insurance companies in India provide a wide selection of health insurance cover plans of different types to customers, aka policyholders. Their health insurance plans are, in fact, offered for all age groups, so every person, young or old and family members as well, can avail benefits from the company products and services that are offered to them.
Here, we’re going to take a brief look at a few best health insurance providers (insurers) in India that offer health insurance cover plans which may be beneficial to individuals in times of dire need, or for hospitalisation and medical treatment (e.g., critical illness, disease, injury or operation/surgery).
But, first, let us quickly understand a little about what health insurance is and why do we need it.
What is Health Insurance?
Most insurance companies offer health insurance, life insurance, vehicle insurance, general insurance etc., products and services to their customers.
Simply put, health insurance is basically financial-aided coverage in which a person can apply for such products/services from insurance companies to safeguard own (i.e., policyholder) or family healthcare needs (not to be confused with life insurance).
Health insurance is generally purchased in the form of coverage plans for which a premium is invested by the policyholder. Premium is the amount that you (the policyholder) are required to pay periodically (can be in Monthly, Quarterly, or Yearly options) to avail the sum insured as well as policy benefits. A premium is thus, an amount paid by policyholders to the insurer in exchange for health insurance coverage. For example, the sum insured can be as low as INR 1 Lakh or greater than INR 1 Crore, depending on the choice of policyholders.
Why Do We Need Health Insurance?
Health insurance coverage helps you in many ways than just securing your or your family’s health. It can keep your finances secure and your mind worry-free from medical needs and exigencies.
For instance, unplanned medical expenses could drain your savings and you may not be able to afford the medical treatment that you need. Thus, having a health insurance cover plan could be beneficial in such a dire situation.
How to Compare and Buy Health Insurance Plans from Insurers (Providers)?
Comparing and purchasing a health insurance coverage plan from a health insurer makes a significant difference to your overall experience, such as:
- Best offerings and wide coverage
- Insurers partnership with hospitals
- Ease of health insurance purchase, portability, and renewal
- Flexibility of insurance premium payment
- Higher chances of claims and settlement
- Value for money paid
- Quick redress of customer grievances
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How to Claim Insured Sum in Times of Need?
You as a policyholder can claim the insured sum after a certain period for the premium money you pay/invest monthly, quarterly or yearly. Bear in mind that different health insurance companies may have distinct policies with regard to insurance claims and settlement.
As per the licensing authority, the Insurance Regulatory Development Authority of India (IRDAI), every medical insurance company must maintain a solvency ratio of 1.5. The solvency ratio is one of the most important factors to consider because it shows the company’s ability to pay its long-term financial obligations.
20 Best Health Insurance Companies of India
As of now, there are a total of 30 insurance companies in India that offer health insurance products and services to customers. Out of these, 25 are General Insurance companies offering health insurance plans and 5 are Stand-alone Health Insurance companies.
A general insurance company offers a wide range of insurance products including travel insurance, motor insurance, health insurance, rural insurance, and more, excluding life insurance. Conversely, a stand-alone health insurance company specializes solely in providing health insurance coverage.
Below (listed in alphabetical order) are the twenty best health insurance companies in India offering various health insurance plans for individuals and family members of all age groups as well as providing various benefits.
1. Aditya Birla Health Insurance
Health Insurance Cover Plans Offered: Activ Assure Diamond, Activ Health Platinum, Global Health Secure, Activ Health Enhanced, Actic Secure, Activ Care, Activ Health Essential, Super Health Plus Top-Up and more.
Aditya Birla Health Insurance Company Limited (ABHICL) is a collaboration between the Aditya Birla Group and MMI Holdings of South Africa. It operates as a subsidiary of Aditya Birla Capital Ltd, the financial services platform of the Aditya Birla Group. ABHICL specializes in providing health insurance services to its customers.
Aditya Birla Health Insurance provides an extensive range of health insurance plans that ensure comprehensive coverage for you and your family’s medical expenses in the event of any illness, sickness, disease, or accident.
2. Bajaj Allianz Health Insurance
Health Insurance Cover Plans Offered: Health Infinity Policy, Silver Health, Health Guard Family Floater, Critical Illness Plan, Global Personal Guard, Total Health Secure Goal and more.
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited and Allianz SE. The company offer tailor-made solutions in various insurance sectors across India. These include health insurance, cyber-safe insurance, home insurance, travel insurance, and motor insurance.
Bajaj Allianz Health Insurance company offers comprehensive health insurance plans to individuals and families with several features and options that are customisable according to the requirements.
Under Bajaj Allianz health insurance plans, policyholders can not only seek coverage against consultations and health check-ups, but critical illnesses, maternity, and accident-related medical expenses, too.
3. Care Health Insurance
Health Insurance Cover Plans Offered: Care Health, Supreme, Care Freedom, Care Senior, Critical Mediclaim, Super Mediclaim and more.
Care Health Insurance is a specialised health insurer offering products in the retail segment for Health Insurance, Top-up Coverage, Personal Accident, Maternity, International Travel Insurance and Critical Illness along with Group Health Insurance and Group Personal Accident Insurance for Corporates, Micro Insurance Products for the rural market and a comprehensive set of wellness services.
Its Care Health Care Insurance Plan is a complete health insurance policy designed to offer coverage for medical costs incurred due to any illness or injury suffered by policyholders.
4. Future Generali Health Insurance
Health Insurance Cover Plans Offered: Arogya Bima, Arogya Sanjeevani, Critical Illness, Vector Care, Health Super Saver, Health Total Policy, Advantage Top-Up and more.
Future Generali India Insurance Company is a collaborative effort between Future Group, a prominent Indian retailer, and the Generali Group, a worldwide insurance conglomerate. Future Generali Health Insurance, a division of the company, operates through 121 branches spread across India. It specializes in providing extensive health insurance solutions to its valuable customers.
Future Generali Health Insurance offers a wide range of health insurance options to cater to diverse needs. They provide comprehensive plans for individuals, families, senior citizens, critical illness coverage, as well as top-up and super top-up plans. These offerings are specifically designed to address all the healthcare requirements of individuals.
5. HDFC ERGO Health Insurance
Health Insurance Cover Plans Offered: My Health Suraksha, Health Suraksha Top-Up, Critical Illness Insurance Plan, Maxima Policy, Optima Senior, Optima Secure, Optima Restore and more.
HDFC ERGO Health Insurance is a well-established insurance company in the private sector. It was formed as a joint venture between HDFC Ltd. and ERGO, which is the primary insurance entity of the Munich Re Group of Germany. HDFC ERGO Health Insurance provides a wide range of insurance products in the retail space, including motor insurance, health insurance, travel insurance, home insurance, personal accident insurance, and cyber insurance. The company has gained recognition as one of the largest private general insurers in the industry.
HDFC ERGO General Insurance provides policyholders of their health insurance plans with the benefit of a complimentary health check-up within 60 days of policy renewal.
6. ICICI Lombard Health Insurance
Health Insurance Cover Plans Offered: Personal Protect, Arogya Sanjeevani Policy, Complete Health Insurance, Health Booster and more.
ICICI Lombard Health Insurance Company is a prominent player in the private sector general insurance industry in India. Established as a collaboration between ICICI Bank Limited and Fairfax Financial Holdings Limited, a reputable company based in Canada, it offers a wide range of health insurance services.
ICICI Lombard General Insurance offers a wide range of health insurance plans, thereby fulfilling the requirements of all groups of people, be it individuals, families, corporates, women, senior citizens, etc.
ICICI Lombard Health Insurance also offers a super top-up plan, ICICI Lombard Health Booster Plan that provides extended coverage to the policyholder and his/her family. The sum insured options offered under the plan range between INR 5 Lakhs to INR 50 Lakhs with deductible options of INR 3 Lakhs, INR 4 Lakhs, and INR 5 Lakhs, respectively.
7. IFFCO Tokio Health Insurance
Health Insurance Cover Plans Offered: Family Health Protector, Arogya Sanjeevani Policy, Individual Plan, Individual Health Protector Policy, Swasthya Kawach Policy, Critical Illness Insurance Policy, Individual Medishield Policy and more.
IFFCO Tokio General Insurance Company is a joint venture between the Indian Farmers Fertiliser Cooperative Limited (IFFCO), the world’s largest fertilizer manufacturer and Tokio Marine Group, one of the largest insurance groups in Japan.
The company offers a range of insurance products such as health insurance, car insurance, bike insurance, travel insurance, home insurance, and corporate policies like property insurance and liability insurance, thereby fulfilling the varied insurance-related needs of the customers.
IFFCO Tokio company’s health insurance plans provide cover with numerous benefits such as cover for health check-ups, ambulance charges, pre-hospitalisation and post-hospitalisation expenses, and so on.
8. Liberty General Health Insurance
Health Insurance Cover Plans Offered: Health Connect Policies, Janta Personal Accident Policy, Health Connect Supra, Individual Personal Accident Policy and more.
Liberty Health Insurance is a joint venture between Liberty Citystate Holdings PTE Ltd., a group company of US-headquartered Liberty Mutual Insurance Group and D. P. Jindal Group, an industrial conglomerate.
Liberty Health Insurance company provides comprehensive retail, commercial, and industrial insurance solutions. The company has an employee strength of more than 1,200 over a network of 110 offices in 95 cities across 29 states. Its partner network consists of at least 5,000 hospitals.
Liberty Health Insurance Company has developed a range of health insurance policies that provide comprehensive coverage for various medical needs. These policies aim to minimize the financial burden caused by unexpected events by addressing expenses related to hospitalization, treatments, and other medical costs.
9. ManipalCigna Health Insurance
Health Insurance Cover Plans Offered: ProHealth Cash, ProHealth Prime, Lifestyle Protection, Super Top Up, ProHealth Insurance, Prime Senior and more.
ManipalCigna Health Insurance company is a merger between Manipal Group and Cigna. Manipal Group is one of India’s largest healthcare chains. Manipal Foundation owns and operates 27 hospitals across 15 cities with over 7,600 beds and a pool of more than 4,000 doctors.
Cigna Corporation is a global healthcare service company with more than 225 years in business since its founding. Cigna has sales capability in more than 30 countries and jurisdictions. Cigna has over 1 Million relationships with healthcare providers, clinics and facilities around the globe.
10. National Health Insurance Company Limited
Health Insurance Cover Plans Offered: Mediclaim Policy, Mediclaim Plus Policy, Parivar Mediclaim Policy, Parivar Mediclaim Plus Policy, Arogya Sanjeevani Policy and more.
The National Insurance Company Limited (NICL) is a general insurance company that is wholly owned by the Government of India. Established in 1906, NICL is recognized as one of the oldest general insurance companies in India.
National Health Insurance company offers plans that can be renewed throughout one’s lifetime and offer a wide range of customisations for the needs of individuals, families, senior citizens, etc. It covers the necessities such as in-patient hospitalisation, and daycare treatment, and offers maximum financial comfort to the insured at the time of treatment.
11. Navi General Health Insurance
Health Insurance Cover Plans Offered: Health Plan and more.
Navi Health Insurance is a wholly-owned subsidiary of Navi Technologies, a digital finance lending organisation owned by Sachin Bansal. The company adopted a digital method of selling its insurance products via the Navi Health Insurance mobile app. It offers a variety of health insurance plans along with motor, property, commercial, and gadget insurance solutions.
Navi Health Insurance company plans offer individuals with health coverage of up to INR 1 Crore via a paperless process. The insurer has a large network of over 10,000 cashless hospitals that provide the best medical care. Navi Health Insurance also focuses on a hassle-free claim settlement process within 20 minutes offering customers a smooth insurance experience.
12. Niva Bupa Health Insurance
Health Insurance Cover Plans Offered: Niva Bupa Health Companion, ReAssure 2.0, Health Pulse Policy, Health Companion Policy, Arogya Sanjeevani Policy, CritiCare Policy and more.
Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance), is a stand-alone health insurance company backed by two companies, True North and Bupa. The insurer aims to provide financial assurance as well as healthcare access to its customers by focusing on customer-centric, product innovation, and digital capability.
Niva Bupa Health Insurance offers a top-up plan as well as a super top-up plan, namely Money Saver and Health Recharge, respectively. Health Recharge Plan offers cover for sum insured options between INR 2 Lakhs and INR 95 Lakhs for various healthcare expenses.
13. Reliance Health Insurance
Health Insurance Cover Plans Offered: MORE Health Insurance, Arogya Sanjeevani Policy, Health Gain, Health Infinity, Critical Illness Insurance, Personal Accident Policy and more.
Reliance General Insurance Company Limited is an Indian private insurance company that operates as a subsidiary of the Reliance Anil Dhirubhai Ambani Group and is fully owned by Reliance Capital. This insurer offers a wide range of insurance solutions in various areas including motor, health, travel, home, marine, and fire. With a widespread presence, Reliance General Insurance has 139 offices and a network of over 28,900 intermediaries throughout the country.
Reliance General Health Insurance Company provides a wide array of health insurance products catering to different customer segments. These include individual plans, family floater plans, critical illness plans, and group medical claim health insurance policies. The company aims to address the diverse healthcare needs of customers through its offerings.
14. Royal Sundaram Health Insurance
Health Insurance Cover Plans Offered: Lifeline Supreme and Family Plus
Initially, Royal Sundaram General Insurance Company was established as a collaboration between Sundaram Finance and various Indian stakeholders. Royal Sundaram Health Insurance provides a wide array of health insurance plans which encompass benefits for maternity care and the option to automatically renew the sum insured each policy year, regardless of any previous claims made.
Royal Sundaram health policies are flexible and offered different sum insured options to its customers that can fulfil every healthcare need of individuals. Royal Sundaram has a service provider called Europ Assistance India Pvt. Ltd., which settles claims on behalf of the company.
15. SBI Health Insurance
Health Insurance Cover Plans Offered: SBI Arogya Premier Plan, SBI Arogya Plus, SBI Arogya Sureme, SBI Arogya Sanjeevani Policy, SBI Retail Health Insurance, SBI Critical Illness and more.
SBI General Insurance is a collaboration between the State Bank of India (SBI) and the Insurance Australia Group (IAG). They offer SBI Medical Insurance, which is not only cost-effective but also provides comprehensive coverage for various healthcare expenses. This includes critical illnesses, accidents, planned hospitalizations, maternity expenses, newborn expenses, and much more.
SBI General Insurance is a highly reputable insurer in the country, boasting a strong track record in providing trusted insurance services. It offers a diverse range of sum insured options, starting as low as INR 50,000, to cater to the varying needs of its customers. With an extensive network of cashless hospitals across the nation, SBI General Insurance ensures convenient access to quality healthcare. Additionally, the insurer provides consistent customer support to address any inquiries or concerns. Moreover, SBI General Health Insurance includes regular health check-ups as part of their health plans, along with the availability of add-on covers for enhanced protection.
16. Star Health Insurance
Health Insurance Cover Plans Offered: Young Star Insurance Policy, Family Health Optima, Star Care Micro Insurance, Family Delite and more.
Star Health and Allied Insurance is India’s first stand-alone health insurance provider and offers a wide range of affordable health insurance products for individuals, families, and corporations. Since its establishment, Star Health Insurance company has immensely grown its operations, with 830 branches across the country.
Star Health Insurance plans cover policyholders’ medical check-ups, AYUSH systems of medicines, critical illnesses, and hospitalisation expenses. Furthermore, the policyholders of Star Health Insurance company are also eligible for coronavirus coverage.
Star Health Insurance company is amongst the leading stand-alone health insurance providers in India and settles an impressive 90% of cashless claims within 2 hours.
17. TATA AIG Health Insurance
Health Insurance Cover Plans Offered: Medicare Health Insurance, Arogya Sanjeevani Health Insurance, MediCare Plus, Critical Illness Policy and more.
Tata AIG Insurance Company is a successful joint venture between the Tata Group and American International Group (AIG). Since its establishment in 2001, this insurance company has garnered recognition in the industry by offering exceptional products and services.
Tata AIG is a renowned insurance company that provides a variety of insurance products including travel insurance, health insurance, motor insurance, and several others. One of the standout offerings of Tata AIG is their comprehensive range of health insurance plans. These plans cater to both individual and business insurance needs, making them highly sought after. With options like individual and family floater plans, Tata AIG ensures that Indian families can have peace of mind knowing that their health and medical requirements will be well attended to.
18. United India Health Insurance
Health Insurance Cover Plans Offered: Family Medicare Policy, Individual Health Insurance, Arogya Sanjeevani Policy, Criticare Health Policy, Group Health Insurance Policy, Super Top-Up Medicare Policy and more.
United India Insurance Company offers a wide range of products ranging from motor insurance, personal accident insurance, household insurance, health insurance, and many more.
The company offers customised and affordable health insurance solutions, catering to every segment, age, and income profile. The plans offered range from Individual plans, family floater plans, senior citizen plans, critical illness plans, and top-up plans, to group health insurance plans. The unique insurance solutions offered by United India Health Insurance ensure to satisfy the healthcare demands of various consumer groups.
19. Universal Sompo Health Insurance
Health Insurance Cover Plans Offered: Complete Healthcare Insurance, Arogya Sanjeevani Insurance, Super Healthcare Insurance, Group Health Insurance Policy, Senior Citizen Health Insurance Policy and more.
Universal Sompo General Insurance is a Private Public Partnership (PPP) venture in the Indian general insurance industry. It is a joint venture between Allahabad Bank, Karnataka Bank, Indian Overseas Bank, Dabur Investment Corporation, and Sompo Japan.
Universal Sompo Health Insurance company offers a variety of health insurance plans, such as individual health insurance, family health insurance, critical illness, top-up health insurance, group health insurance, health insurance for Coronavirus, and more that provide the needful financial assistance in the time of medical emergencies. Universal Sompo has 86 branch offices and tie-ups with more than 4,000 network hospitals pan India.
20. ZUNO Health Insurance
Health Insurance Cover Plans Offered: Family Health Insurance Policy, Health Top-Up and more.
Zuno General Insurance (formerly known as Edelweiss General Insurance) is an established insurance provider that has been serving customers since 2017. With a wide range of product offerings, including health, motor, travel, and more, the company caters to diverse insurance needs. Zuno General Insurance offers comprehensive coverage for various health treatments, including critical illnesses like cancer, ensuring their customers receive the necessary financial support during challenging times.
Zuno Health Insurance provides affordable health insurance policies for both individuals and families, catering to all your healthcare requirements. With the comprehensive coverage offered by Zuno Medical Insurance, you can safeguard your savings in the event of unexpected hospitalization.
Health insurance companies in India offer a selection of health insurance cover plans to persons and families with affordable premiums and many benefits to avail when in need. Since hospital costs keep increasing with time, it is, therefore, crucial to have some sort of financial backup in order to meet the expenses for medical treatment, whether of own or family.