Best Health Insurance Companies in India - 2024

Availability of Plans

The types of health insurance plans provided by insurers is the most important factor when it comes to comparing insurers. Most health insurance providers only offer general health insurance, i.e., family health insurance and individual health insurance. However, there are some insurance companies that have designed separate plans targeting specific genders and age groups. So, go for an insurance company that offers policies apt for you. 

Network Hospitals

These days, health insurance companies have tie-ups with different hospitals to ensure that lack of cash doesn’t influence your decision at the time of a medical emergency. As a policyholder, you do not have to pay a single penny while or after taking the treatment at a partner hospital. Hence, it is imperative that the insurer has multiple network hospitals around your locality.

Claim Settlement Ratio

The health insurance claim settlement ratio says a lot about the insurance company. It is the percentage of the number of claims settled by the total claims received within a financial year that can contribute to determining the best health insurance company in India. Go for a company that has a better claim settlement ratio.

Claim Settlement 

Selecting a company that offers a smooth and quick claim settlement is a crucial factor in determining the medical insurance provider. You want to opt for a provider that will not complicate the process or make claim processing time-consuming for you, especially in your hour of need.

Customer Support

Responsive and friendly client assistance is paramount in the insurance industry. No one wants to be left hanging amid a financial crisis, right? So, make sure that the insurance company offers 24x7 customer support.

Support Team

Any good medical insurance provider will have the best of the support team, which is well-trained in resolving customer queries and always guiding them. Be it a helpline number, email ID or online chat portal, you must go for insurance providers that have a well-rounded support team. This will ensure that you have multiple means of reaching out to them, at your convenience, making it simpler for you to transact, request for claim, and follow up.

Business Volume

In the insurance industry, the business volume can be measured on the basis of the number of policies sold and renewed. Any company with more policies sold has a better market share and hence, is a more credible insurance provider. Business volume as a parameter will help you ascertain if the company is trusted by others.

Online Presence

In today’s day and age, knowing if the insurance provider has a digital presence or not is no less than a deciding factor of how good health insurance companies in India are. Policyholders no longer need to visit the insurance provider’s branch or office, wait in queues, and spend hours discussing details in person. 

 

Most medical insurance providers have an exhaustive online presence, be it website, mobile application, google search pages, enquiry forms, etc. Hence, always check the digital presence of your insurance provider so you can be certain of how to reach out to them and ensure that your transactions can be done at your comfort.

Customer Feedback & Ratings

Most health insurance companies in India have feedback and testimonials from their existing customers on their website or mobile app. Moreover, there are many insurance aggregators and review platforms that offer honest feedback from customers that have opted for the services of different insurance providers. 

 

Top medical insurance providers are then ranked or rated by these aggregators for their onboarding process, claim settlement process, customer support, availability, etc. Hence, it is important that you do your due diligence and know customer feedback for the insurance company where you will consider buying a policy.

Awards & Achievement

Higher the number of awards an insurance provider has earned, more are the chances that your insurance provider is a top pick and an ideal choice for policy buyers. There can be several categories of awards, which say a lot about the insurance provider’s services, like the highest claim settlement ratio, best service in the industry, quickest claim settlement, etc. 

 

You can always search for your medical insurance provider on the internet or visit their website to know about their achievements.

The information including interest rates with regard to any insurance product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered financial entities. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective insurer to verify the information before making any application or claim. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.