The healthcare sector of India has progressed immensely and the main contributing factors have been the advancement of medical technology along with the expansion of health insurance schemes. Now individuals can cover themselves and their family and secure their health without incurring unplanned medical expenses. Now, purchasing a health plan is no more a cumbersome process and can be bought quickly within minutes.
Let’s have a look at the list of various health insurance companies in India along with their health insurance plans.
List of Various Health Insurance Companies In India
Now that you have seen the list of health insurance companies in India, read our article Best Health Insurance Policies of India, to know the best health insurance plans from the insurance providers.
Why Is Health Insurance Important?
- Helps to tackle medical inflation by protecting your savings.
- Access to comprehensive coverage.
- Efficient and timely medical care.
- Get add-on riders for enhanced protection.
- Offer coverage to the entire family under one plan.
- Simple and easy claim process.
- Offers various tax benefits under Section 80D.
Factors To Consider Before Choosing A Health Insurance Company
Select IRDAI Approved Health Insurance Company: The IRDAI (Insurance Regulatory and Development Authority) is the regulator of the insurance sector in India which is responsible for the development and regulation of the insurance companies.
Brand Reputation: While comparing the different health insurance companies, do not just select the company on the basis of premium quotes, the overall brand reputation of insurance companies also matters a lot especially during the time of medical emergencies.
Claim Settlement Ratio: Past track record of claim settlement ratio is extremely crucial while selecting a health insurance policy. A health insurance company must be speedy enough to approve the claim requests and provide the necessary assistance on time. So, before picking your health insurance company, check its claim settlement ratio.
Network Hospitals: The covered individuals are allowed to avail cashless treatment at networked hospitals. In such cases, the policyholder does not need to follow any reimbursement procedure to get financial assistance. Choose health insurance companies with a maximum number of network hospitals, so that you can avail cashless treatment every time.
Compare Different Health Insurance Providers: Compare the health insurance providers on the basis of premium quotes, policy terms and conditions, inclusions and exclusions and other crucial factors. Doing so will surely help you pick up a proper insurance provider without any compromise on financial security during medical emergencies.
Analyze The Policy Document: Read all terms and conditions in your policy documents which further helps to understand the benefits and coverage of the policy. This will help the policyholder to maximize its benefits in the long term.
Why Is It Better To Buy A Policy Directly From the Health Insurance Company?
- Choose the best plans from the various options provided by all the insurance companies in India.
- Customize your insurance plan as per your need and requirements from the various customization options provided by the insurance companies.
- Buy your policy directly at ease without the involvement of any third-party agent or aggregator.
- Health insurance policies are cheaper when bought directly from the insurance provider. As, there is no commission payment that has to be given when one buys the policy directly from the insurance company.
How To Buy A Health Insurance Policy Online?
You can buy the health insurance policy directly from the insurance company at any given point of time. Online buying allows you to avail various online discounts which helps in lowering the premiums. The online policy also involves zero paperwork and saves a lot of time as the policy gets issued within just a few minutes of buying.
Steps To Buy A Health Insurance Policy Online:
- Step 1: Log on to the website of the insurance company and navigate to the health insurance section.
- Step 2: Select the type of policy you want to choose under the health insurance section.
- Step 3: Click on the “buy online” tab which will direct you to a secure webpage.
- Step 4: Determine the premium that you will be required to pay for the policy coverage.
- Step 5: Fill-in the personal details such as name, correspondence address, contact details and a history of ailments or diseases.
- Step 6: Pay for the premium via various online payment methods and receive a soft copy of the policy document within minutes on your registered email id.
Frequently Asked Questions (FAQs)
How to select the best health insurance company in India?
Well, it totally depends on the covered individual needs and requirements. However, one should look at the parameters such as claim settlement ratio, cashless network, reputation of the company and the policy inclusions and exclusions.
What should I do when my health insurance expires?
What do you mean by lifelong renewability in health insurance?
Which are the top health insurance policies in India?
How can I save tax by purchasing a health insurance policy?