Realising the importance of medical insurance after an unexpected illness or accident is common. However, it is not ideal to wait for such incidents. Thus, securing your health with medical insurance in advance is important. Being financially prepared to handle unforeseen medical expenses is crucial. Thus, finding the right insurer is equally important.
This comprehensive guide will discuss the top health insurance companies of the year and their features that help you make an informed decision, but before that, let us understand what healthcare insurance is.
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What is a Healthcare Insurance Plan?
Healthcare insurance helps you in covering the cost of medical expenses that occur during medical treatment. This provides financial assistance in case of unexpected medical expenses due to illness or injury. In the case of healthcare insurance, the insurance company reimburses the money for the medical expenses or pays the healthcare provider directly. This helps you get the required medical care without worrying about the finances.
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Top 6 Healthcare Insurance Companies
With a large number of medical insurance companies, it cannot be very clear to choose one. Thus, here is the list of the best health insurance companies you can consider while choosing. They are as follows:
1. Niva Bupa Health Insurance
Niva Bupa Health Insurance is a well-known medical insurance provider in India. They offer affordable plans for individuals as well as families. They have multiple plans with various features and coverage benefits, allowing you to choose a plan that suits your needs. With competitive premiums, Niva Bupa is a popular choice for reliable medical insurance.
Features
- 30 mins cashless claim authorisation
- Coverage for life-threatening illnesses.
- Cashless hospitalisation services across more than 7600 network hospitals all over India.
- Coverage against medical expenses such as pre and post-hospitalisation expenses, ambulance charges and daycare expenses and many more.
2. Aditya Birla’s Health Insurance
Aditya Birla Health Insurance is a partnership venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments (Pty) Ltd, working together as partners in the venture. Aditya Birla Capital has a 51% stake, and Momentum Metropolitan Strategic Investments holds a 49% stake. The company offers simple and convenient general insurance services for customers, and the company is known for its strong reputation.
Features
- It provides cashless medical treatment across 8700+ hospitals in 650+ cities throughout India.
- The insurance provider gives access to over 800 fitness centres, gyms, yoga studios, and other wellness facilities.
- Policyholders are eligible for discounts on medicines at over 2300 pharmacies in 250+ cities.
- Plans also include coverage for in-patient Ayush treatment.
3. Bajaj Allianz Health Insurance
Bajaj Allianz General Insurance Company offers healthcare insurance products that are particularly advantageous for customers. With a focus on providing caring and reliable services, Bajaj Allianz has helped millions of people, communities, and businesses manage risks and ensure continuity.
Features
- Cashless claim settlement services in over 6500 hospitals.
- Bajaj Allianz offers the Global Personal Guard health plan for international coverage.
- It provides specific plans covering life-threatening illnesses such as strokes, tumours, cancer, etc.
- The company is known for its 60-minute claim settlement.
4. Bharti AXA Health Insurance
Bharti AXA General Insurance is a joint venture of AXA and Bharti Enterprises, launched in August 2008. With 59 corporate offices across India, the company earned ISO 9001:2008 certification in its first year of operation, followed by ISO 27001:2005. Bharti AXA is an emerging insurance company that is highly trusted, known for its dedicated services, seamless customer relationships, and straightforward claims process.
Features
- No requirement of co-payment
- Some of the plans offer unlimited hospital room rent.
- Lifelong policy renewal facility
- Great and responsive customer service
5. Care Health Insurance
Care Health Insurance Limited has rapidly grown in a short period and has set a benchmark in the Indian insurance market. At The Economic Times Insurance Summit & Awards 2022, it was honoured with ‘Smart Insurer of the Year’ and ‘Sales Champion of the Year’.
Features
- Coverage against medical charges like ambulance charges, domiciliary treatment, and many more.
- Cashless claim approval within 2 hours in most cases.
- Pre-existing health ailments and annual cardiac checkups are available.
- Annual health checkup is also available.
6. Cholamandalam MS Health Insurance
Cholamandalam GI Co. Ltd. was established in 2001 with the T3 motto of ‘Trust, Technology and Transparency’. The company now has 109 branches throughout India. In 2011, it received the Financial Insights Innovation Award for its innovative practices at the Asian Insurance Congress. Cholamandalam provides affordable coverage with appealing features and benefits.
Features
- Insurers offer coverage for critical illnesses and accidental injuries.
- Lifetime renewability
- Annual health checkup benefit.
- Provide coverage for medical expenses incurred before hospitalisation for up to 30 days and after hospitalisation for up to 60 days.
Conclusion
With the increasing number of health insurance companies in India, choosing the right insurer can be difficult. Hence, when selecting a company from the various health insurance companies, you must compare the features and benefits to identify the right company.
Moreover, you can consider Niva Bupa health insurance. The company offers the best comprehensive health coverage at affordable prices. If you want to learn more about their plans, you can check out their website today!
