Medical insurance has become such an important part of life, that almost all insurance companies in India have started offering a wide range of healthcare products to people. While most of these companies have a good reputation, some organizations are simply better than others are. Here is a look at the best health insurance companies in 2018 who offer the best health insurance plans.
- Apollo Munich Health Insurance Company
A joint venture between Apollo Hospitals and Germany’s Munich Health, the company has managed to garner praise from all quarters due to its dependability. For the year 2017-18, the incurred claim ratio was 62.47 percent. This company brought many innovations to the health insurance market, such as the benefits of portability and lifetime renewal options.
- Bajaj Allianz General Insurance Company
Another joint venture, Bajaj Allianz is a corporation founded by Bajaj Finserv Limited and Allianz SE. Winner of innumerable awards in the insurance domain, Bajaj’s health insurance plans such as Silver Health, Health Guard and more have saved countless lives. Bajaj was also the first company to offer TPA efficiently in India. It’s incurred claim ratio for 2017-18 was 66.72 percent.
- Star Health and Allied Insurance Company
Formed jointly with ETA Ascon, Oman Health Insurance Company and others, the provider boasts of an incurred claim ratio of 61.76 percent in the year 2017-18. An in-house third-party administration team allows for convenient cashless claims. The company has also launched new and innovative products, such as Diabetes Safe and Star NetPlus aimed towards supporting diabetic and HIV+ patients, respectively.
- Max Bupa Health Insurance Company
The collaboration between Bupa Group and Max India Limited, the company came into existence in 2010. The incurred claim ratio for the provider during 2017-18 was 50.19 percent. Additionally, the company allows people of all ages to get proper medical care with their wide variety of products.
- Religare Health Insurance Company
Three companies, namely, Union Bank of India, Religare Enterprises Limited and Corporation Bank, come together to form this company. The company was launched in 2012. With an incurred claim ratio of 51.97 percent in the fiscal year, 2017-18, Religare Health Insurance Company has made a niche for itself in the insurance sector. The company has exclusive tie-ups with Fortis Hospitals. This means that if a policyholder is treated at one of the many Fortis hospitals in India, he/she can enjoy cashless claim settlement.
If you are looking for the best health insurance policies in India, make sure you select a plan provided by one of the companies mentioned above. They have a good track record and are dependable when it comes to claim settlement.