This is because no one would want to get involved in time taking or complicated processes at the time of emergency. So, it is recommended to go for an insurance company that has lesser claim formalities so that you can save time and effort.
Knowing reviews from the existing policyholders about a health insurance company helps you make an informed decision. For this, you can read customer reviews for different insurance companies at InsuranceDekho and go for the company that has positive feedback. You can also do some research in order to choose the best insurance company.
On the website of every insurance company, you will find a section of awards and accolades. There you can check how many recognitions a particular insurance company has won. A higher number of awards and recognitions indicate the greater credibility of the company.
So, when choosing an insurance company, go with the one that has consistently won several awards and accolades that makes them an all-rounder. A good insurance company has a great customer support team. They must have a helpline number where you can call and get your grievances addressed.
Not only call, but you should also be able to reach out to them via email, chat, etc. It makes it easy for you to face several doubts related to health insurance coverage when the insurer is helpful and easily approachable.
Nowadays, the majority of insurance-related work takes place online. You can simply do all of it by logging in and availing of health insurance services or any related information on the official website of the insurer. So, it is imperative to choose an insurance company that has a good and strong digital presence so that you can purchase and maintain a health insurance policy with the utmost ease.
InsuranceDekho offers a quick, transparent, and paperless process to buy health insurance. All you need to do is follow the simple steps given below and you can own the policy within a few minutes. Step 2: Select your Gender. Enter your Name and Mobile Number. You will receive an OTP on the provided mobile number, enter that. Step 3: Tell us when you plan to buy the insurance policy. Step 4: Select the family members you want to include in the policy along with yourself.
Step 5: Select the age of the selected family members. Quotes customized as per your details will appear on your screen. Choose the one which best suits your requirements. Step 7: Choose the tenure of the selected health insurance plan, enter the required details, and proceed with the payment.
After successful payment of the health insurance premium, you will receive the policy documents via mail within the stipulated time. With numerous health insurance providers in India, it can sometimes be daunting to choose the right insurance company. Hence, it is best to look for the one that has a good claim settlement ratio, a wide network of hospitals, and wide sum insured options. The factors help you choose the best health insurance company and hence the best health insurance plan for yourself and your loved ones.
Started in in India, the health insurance industry has seen exponential growth in the country. As of now, there are 30 insurance companies in the country that offer health insurance products. Out of these, 25 are General Insurance Companies in India offering health insurance plans and 5 are Standalone Health Insurance companies. A general insurance company deals in various insurance products such as travel insurance, motor insurance, health insurance, rural insurance, etc. The details of top 10 health insurance companies as per the Claim Settlement ratio, as tabulated below, are as follows:.
The former is the world's largest fertilizer manufacturer and the latter is one of the largest insurance groups in Japan.
It is a general insurance company that apart from health insurance plans, sells car insurance plans, bike insurance plans, travel insurance plans, home insurance plans, and corporate policies like property insurance and liability insurance.
The insurer offers a wide range of health insurance plans including individual health insurance plans, family floater health insurance plans, and senior citizen health insurance plans. The company is a standalone health insurance company that offers a wide range of health insurance plans to cater to varied requirements of the policy buyers.
These include individual health insurance plans, maternity health insurance plans, family floater health insurance plans, senior citizen health insurance plans, and critical illness health insurance plans. These plans come with different features and coverage benefits that suit different requirements of individuals at affordable premiums.
It has an impressive claim settlement ratio and offers a wide range of health insurance plans to fulfil different requirements of people. Apart from health insurance plans, it also offers other insurance products like fire insurance plans, marine insurance, motor insurance, etc.
The insurer has a pan India presence with more than offices in different states. Under its health insurance plans, the insurer offers wide coverage against various major healthcare expenses such as in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, etc. The Oriental Insurance Company: Founded in , the Oriental Insurance Company offers multiple health insurance products to its customers.
The insurer has its head office in New Delhi and more than 29 regional offices and around 1, offices in different cities of the country. The insurer also conducts overseas operations in Nepal, Dubai, and Kuwait. Health insurance plans offered by the insurer are suitable for people living in rural areas, as well in urban areas. The insurer has a wide network of hospitals where you can avail cashless treatment without paying anything for the treatments covered under the policy.
The insurer offers affordable health insurance plans and is hence preferred by many. New India General Insurance: New India General Insurance is a multinational general insurance company that is headquartered in Mumbai, India and operates in 28 countries.
The insurance company has more than products including different types of health insurance plans for different sections of the society. The plans are affordable and cover you for several healthcare expenses such as in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, organ donor expenses,road ambulance expenses, etc.
The policies are available at affordable premiums and you can avail cashless treatment under them, at the network hospitals. Bajaj Allianz General Insurance: Bajaj Allianz General Insurance is another popular insurance company with an impressive claim settlement ratio. One of the largest private insurers in the industry, Bajaj Allianz has its offices in more than 11 cities and towns.
The insurer offers a wide range of insurance products, of which health insurance is one. With more than 6, network hospitals, the insurer offers cashless treatment to the insured under its health insurance plans. One can avail individual health insurance plans, family floater health insurance plans, senior citizen health insurance plans, maternity health insurance plans, etc.
Over the years, the insurer has won several awards and accolades, which prove that the insurer offers reliable products to its customers. People choose this insurer to buy health insurance plans that cover them as well as their families at affordable premiums. The Insurance company has multiple health insurance plans that cater to different requirements of individuals and families at affordable premiums.
The plans come with different features and coverage benefits that you can choose as per your budget and other requirements. These come with different sum insured options, that you can choose as per your requirement.
Navi Health Insurance: Navi Health Insurance is a new age online insurance company that offers different types of health insurance plans to fulfil varied health insurance needs of people. Started operating in , the insurance company is a wholly owned subsidiary of Navi Technologies. Congenital anomalies. Drugs or alcohol addiction. Filled Proposal Form. Voter ID. Aadhaar Card.
Driving License. Passport Size Photo. Pre-medical Test Reports. Buy Mediclaim Policy from top Insurers. Get Quote. Steps for Cashless Claims Visit the network hospital listed in your mediclaim policy to avail treatment. Get the pre-authorization form available at the hospital's health insurance desk. Fill the form mentioning all your details with correct information. Get the hospital stamp on the form.
The network hospital will send your stamped form to the respective TPA - Third Party Administrator or the mediclaim policy insurer for further approval. After approval, it will send a fax back to your hospital mentioning the cover amount. For reimbursement claims, you need to inform your mediclaim policy company about your hospitalization.
You can inform the company via email or by simply making a call to your insurance provider's customer care service number. After your treatment is over, gather all your hospital medical documents. Submit all your hospital bills, medicine bills, payment receipts to your mediclaim policy provider. After this, the mediclaim policy company will review your claim. After approval, the company will pay your reimbursement amount.
Step 4: Select Yes or No if you take any medications. Buy Now. Allows the convenience to see the top mediclaim policies in a few clicks sitting at home. Based On. Cover Offered. Also includes ambulance charges. Offers compensation in cases where there is a loss of income due to an accident. Add-on Cover Option. Vary from company to company. Mostly remain same across all companies. Cover for Critical Illness. Sum Assured Amount. Not more than 5 Lakhs. Exceeds up to 6 CR per year but not more than that.
Hospitalization Conditions. More than 24 hrs hospitalization needed. Explore More About Health Insurance. Health Insurance. Health Insurance Claims. Cashless Network Hospitals. Health Insurance Income Tax.
Health Insurance FAQ's. How to choose a Best Mediclaim Policy? You need to keep the following parameters in mind while selecting a suitable mediclaim policy: Premiums — The payments made towards Mediclaim policies differ between insurance companies, based on various parameters like age of the applicant, location, policy tenure, sum insured on maturity of the policy tenure, etc.
Age — Suitable for individuals right from the age of 91 days to 65 years, though the terms and conditions regarding age vary between insurance companies. Cover for family — The unique option of one master premium enables you to ensure mediclaim for your entire family. Not just that, such a facility often makes you eligible for additional benefits and discounts on premium, based on the insurance company and policy you have opted for.
Overseas mediclaim policies — Some mediclaim policies also cover you for emergencies that might occur when you are abroad, based on certain terms and conditions. Claims — While some insurance companies channel their claims through Third Party Administrators TPAs , some others process claims in-house.
Types — There are a wide range of mediclaim policies offered, which we will discuss later in the article. An additional tax exemption of up to Rs. What are the things to look for while choosing a health insurance plan? While choosing a health insurance policy there are a few things which you should be ready with are: Maximum value an insurer will compensate you for complete total loss or theft of your bike Sum insured or coverage amount — Ensure that you consider future expenses too.
Room rent — Check for the capping amount or criteria defined if applicable. Sub-limits or co-pay applicable — Check for the sub-limits applicable for some specific list of ailments or package treatments.
Also check if the plan has copay feature. Network hospital list — Check for the list of network hospitals and try buying a policy which covers your regular hospital Policy wording — Most important thing to check before buying a policy is the policy wording. In case you are not sure about a certain term or condition you can always contact the insurer for clarification. Which mediclaim policy covers pregnancy in India? Can I cancel my mediclaim policy and if yes will I get my premium back?
What is a mediclaim policy for employees? Chennai-based Veerendra Kumar is stuck at the quotation stage of a Rs 10 lakh family floater plan. I have called for some quotations. How much cover do you need A health insurance floater policy of Rs 5 lakh is quite sufficient in most parts of the country.
However, it may not be adequate if you live in a metro, where the cost of medical treatment is significantly higher. A day hospitalisation for common diseases can land you a bill of Rs 60,, in private hospitals of metro cities. The bill for bigger ailments can run into several lakhs of rupees. But a regular indemnity policy of Rs lakh will not be of much use if the policyholder is diagnosed with a serious ailment.
For such cases, a critical illness plan is more useful. But critical illness policies come at higher costs, and cover only specific ailments. Still they are better than some disease specific covers. Veerendra Kumar, 34 yrs, Chennai Family: Self, homemaker wife 31 , children 5 and 1 and parents 65 and 58 Existing health cover: Group cover of Rs 3 lakh from employer Recommended cover: Floater plan of Rs 5 lakh for own family.
Separate individual plans for parents for Rs 3 lakh each. Group covers have lots of exclusions and may not cover all the costs incurred during the hospitalization.
There are sub-limits on room rent and other charges and co-pay clauses under which the policyholder is required to foot a certain percentage of the bill. Take a cover of at least Rs lakh if you want to be on the safe side. Mercifully, the premium does not rise in the same proportion as the cover. If a Rs 5 lakh family floater cover is for Rs 12, a year, a Rs 10 lakh cover will not cost Rs 24, It will be for about Rs 18, a year.
The number of family members and their age is crucial to identifying a policy. For instance, a young family can do with a basic cover of Rs 5 lakh, while a family with older members should opt for a larger floater cover.
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