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Top 10 Health Insurance Companies 2019 by Claim Settlement Ratio

Health Insurance is the utmost priority for every individual nowadays. People just want to secure the future of their loved once and just want to provide them with a better and secured life. Henceforth, for the same reason today the health insurance is carrying a lot of advantages. The health insurance is very important to secure the time and life in the emergency period. Henceforth, here we are going to discuss the Top 10 Health Insurance Companies in detail so that you can select the one from it.

Top 10 Health Insurance Companies

  1. Star Health and Allied Insurance Company Limited
  2. Religare Health Insurance Company Ltd.
  3. Oriental Insurance Company Ltd.
  4. TATA-AIG General Insurance Company Limited.
  5. ICICI Lombard general insurance
  6. Max Bupa Health Insurance Company
  7. Bharti Axa Health Insurance Company
  8. Bajaj Allianz Health Insurance Company
  9. HDFC ERGO general insurance Plan
  10. National Health Insurance Plan

The details of the health insurance claim settlement ratio by companies along with all the necessary information are mentioned below:

Insurance Company NameClaim Settlement Ratio (in %)Covered Number of HospitalsPlan Available to Get BenefitsPre-existing Diseases Waiting Period (if any)
Star Health and Allied Insurance Company Limited60.51%8000+Individual or Family Insurance4 Years of period
Religare Health Insurance Company Ltd.50.52%4700+Individual, groups, co-corporate or Family Insurance4 Years of period
Oriental Insurance Company Ltd.112.11%4300+Individual/Family Insurance4 Years of period
TATA-AIG General Insurance Company Limited.72.32%3000+Individual or Family Insurance4 Years of period
ICICI Lombard general insurance80.38%3600+Individual or Family Insurance4 Years of period
Max Bupa Health Insurance Company.51.96%3500+Individual or Family Insurance4 Years of period
Bharti Axa Health Insurance Company.86.84%4300+Individual or Family Insurance4 Years of period
Bajaj Allianz Health Insurance Company.70.41%5700+Individual or Family Insurance4 Years of period
HDFC ERGO general insurance plan.70.90%4800+Individual or Family Insurance4 Years of period
National Health Insurance plan.97.25%6000+Individual or Family Insurance4 Years of period

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Brief detail of the top 10 health insurance claim settlement ratio by companies:-

Star Health and Allied Insurance Company Limited

  • The company has started giving its facilities to its customers in 2006.
  • The company is providing several facilities under health insurance like an accidental cover and many more.
  • If we talk about the incurred claim ratio it is 60.51%.
  • Even the company is providing the coverage of pre-existing diseases but the condition is that it would be provided after the premium of 4 years has been paid by the customer successfully on time.
  • The renewability of the plan provided by the company is for a lifetime. Hence there is no need to worry about the expiration of your insurance plans.
  • The insurance is covering almost 8000+ hospitals for cashless services.
  • Therefore, we can say that the company is providing very good insurance on affordable premiums.

Religare Health Insurance Company Ltd

  • The first advantage of this insurance that is covering the insurance of groups, corporate along with the even person.
  • The incurred claim ratio for this insurance is 50.52%.
  • The renewability period for its plan provided by the company is also a whole life long.
  • The hospitals being covered under this plan are 4700 and. Hence, one can go to any of this hospital for cashless treatment.

Oriental Insurance Company Ltd

  • This is India’s oldest plan which is serving its customers very well for so many years. Even the plan holders are availing of the benefits of the plan without facing any major problem.
  • The company always want to solve the problems of their customers and want to see further how can they provide more benefits to their potential customers.
  • Not even in India but in Dubai, Nepal, and Kuwait in all three places the companies providing their plan very well.
  • The incurred claim ratio of the plan is 112.22% which is quite moderate.
  • The company will start covering your pre-existing diseases automatically after the completion of 4 years.
  • 4300+ hospitals are being covered under this plan and serving the patients well.
  • The renewability of the plan provided by the company is also for a lifetime and hence no need to worry about changing the plan after expiration.

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TATA-AIG General Insurance Company

  • This company is a joint company where American International Group Inc. and the Tata group are together serving the insurance plan to their customers.
  • Even the two well-known groups are making their full efforts to provide the best benefits to the plan holders.
  • The renewability period for the plan provided by the company is also a lifetime.
  • The incurred claim ratio for this company is 72. 32 percent.
  • The company is covering 3000 + hospitals in India.
  • Hence, a very well known company which is providing the best plans to their customers and even covering the pre-existing diseases after the completion of 4 years of the policy.

ICICI Lombard General Insurance

  • Under this plan, the company is serving its customers with the joint Enterprises that are ICICI bank and Fairfax financial Holdings are together handling the plan.
  • More than 3600 of hospitals are being covered under this plan.
  • The incurred ratio of the claim of the company is roundabout 80.38%.
  • The plan provided by the company is carrying a lifelong renewability option.
  • The company is covering almost every type of medical treatment like permanent disability the accidents or the pre-existing diseases after following the terms and conditions of the policy.

Max Bupa Health Insurance Company

  • A very well known insurance company which is providing its plans to its customers for many years.
  • The Bupa health insurance company is serving the insurance industry for the last 6 decades.
  • Almost 29 million customers are availing of the facilities provided by the company from 190 countries all over the world.
  • Therefore, this is a very big achievement for the company that they are showing so many people from so many countries.
  • The geniality period for the plan provided by the company lifelong.
  •  3500 and hospitals are accepting this insurance plan for the cashless treatment.
  • The incurred ratio of the claim for the plan is 51. 96%.

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Bharti Axa Health Insurance Company

  • This company is also providing its services in a joint group that is an extra group and Bharti Enterprises.
  • The advantage of having this insurance plan is that there providing timely payment in case of emergency and the services provided to the customer are hassle and tension free.
  • The renewability Period of the plan provided by the company is also a lifetime and the Insurance claim ratio is 86.84per cent.
  • 4300 and registered hospitals are providing their services to their patients very well and the services are cashless under this insurance plan.

Bajaj Allianz Health Insurance Company

  • As many other companies are doing this insurance company is also doing the joint venture that is Bajaj Finance Limited and the Allianz SE together has started this company to provide the health insurance plans.
  • The incurred ratio of a claim under this plan is 78.50 percent.
  • The plan is also providing the tax benefits under the act of 80d and hence and add on to this plan
  •  5700 + hospitals are providing their services to their patients and the topmost doctors are treating them.
  • The renewability period under this plan provided by the company is also a lifetime.

HDFC ERGO General Insurance

  • It is the world’s third-largest company of the private sector which is providing the best insurance plan for their potential customers and customers.
  • Roundabout 75 lakhs of customers are availing the insurance from this company.
  • The customer review for this company is very well and the company is providing the best of their services to them.
  • The incurred claim ratio for the plan is 76.90%.
  • The renewability period under the plan provided by the company is a lifetime.
  • The companies covering 4800 + hospitals giving their cashless services to their patients.

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National Health Insurance

  • This is the oldest company in India which is providing insurance services to the customers.
  • The companies providing an incurred claim ratio of 97.5%.
  • Almost 6000 + hospitals are being covered under this plan.
  • The renewability period of its plan is of a lifetime.
  • Hence, it is life Old is always Gold that is even though it is an old plan but it is providing its services very well to the customers.

Concluding

Hence, if you are looking for the best insurance plan then you can check these top 10 health insurance companies and can choose the one which is best suitable for you and your family. For, further queries you may leave your valuable comments below.

We hope that you will get the best plan for you and your loved ones!!

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