Best Health Insurance Company in India
Before buying anything, everyone seeks the related information, compares the available options based on various parameters, and makes the final purchase. The same logic applies while buying health insurance for yourself or your family. First, you have to be aware of the available options to select the best. After that, you must consider certain parameters based on which you will compare the available options to choose the best. And once you are done with this comparison, pick up the best option which suits your requirements.
Companies that provide Health Insurance in India
The insurance sector has grown up in the modern days compared to the earlier stage. Various companies across India provide health insurance plans. Some are Government companies, while the rest are private insurance companies. The products offered are broadly the same but might differ in some minor aspects. Therefore, when you are about to buy health insurance, you should consider certain factors before making the final decision. Then, after comparing the companies based on these factors, you can easily choose the best.
How can you choose the best company among these?
In India, every insurance company has unique characteristics that set it apart from the other ones. Similarly, there is not a single insurance company that can suit everyone. Every person will define the best health insurance company based on their requirements and health goals. To understand this in a better way, let’s take an example. Some people will prefer an insurance company over others for its large network of partner hospitals that provide cashless claims. In contrast, others may feel that the quality of services provided is important for them, along with customer service availability.
Let’s have a look at the factors that you must consider for comparing different health insurance companies in India-
1. Availability of various Health Insurance Policies
One of the basic factors in comparing different health insurance companies is the types of health policies offered by insurance companies. While some companies only offer common health insurance policies, such as individual and family health insurance, other companies offer policies dedicated to certain groups, such as children, women, and senior citizens.
2. Network Hospital for Cashless Treatment
Most health insurance companies have collaborated with several hospitals to provide cashless claims. When choosing the best health insurance provider, you must consider the strength of these cashless network hospitals and insurers. Choose an insurer with a wider hospital network for better cashless claims.
3. Claim Settlement Ratio
The cashless settlement ratio of an insurer is nothing but the percentage of claims settled by the insurer during a financial year out of the total number of claims received. Therefore, choose the insurer with a higher claim settlement ratio for better safety.
4. Available Customer Support Service
One more important factor you should consider while choosing the best health insurance company is the availability of customer support service and its quality. Always choose an insurance company that offers you 24*7 customer supports to resolve your queries anytime.
5. Business Volume of the Insurer
The business volume of an insurer is the total number of policies sold and premiums collected by them. An insurance company can be trusted by the people who have sold more policies and has a higher market share. Therefore, when you judge health insurance companies, business volume can be considered a parameter, where higher volume indicates greater trust among its customers.
6. The Process of Claim Settlement
If you don’t want to be involved in a time-consuming or complicated claim process during an emergency, choose the insurance company which offers a smooth claim settlement process. It is always recommended that you choose an insurance company with lesser claim formalities to save time and effort.
7. Ratings and reviews
The reviews and ratings from existing customers about an insurance company help you make an informed decision. You can read those reviews for different health insurance companies, check the ratings online, and choose the company with positive feedback.
8. Awards and Recognitions
You will find a section of awards and recognitions on the website of every health insurance company. Naturally, the company is more respectable if the awards and recognitions are greater. So, while choosing the best insurance company, please select the one which has consistently won various awards and recognitions that make it an all-rounder.
9. Customer Support
A good insurance company is available 24*7 and has a great team to support its customers. So, an insurer must have a helpline number where customers can call and get their grievances addressed. Not only call, but they should also be able to reach out to the company through email, chat, etc.
10. Digital Presence of the company
Nowadays, most of the insurance-related work is carried out online. This means that there is no need to visit the company’s office, chase their agents, pay a lot of money as brokerage, or provide many documents to get health insurance. So, it is highly important to find an insurance company that has a strong internet presence so that you can easily avail and monitor a health insurance policy.
Best guide to take advice before buying Health Insurance
After understanding these parameters, you have to compare the available options and then choose the best for yourself. Some people choose independently, while many of you need some guidance or advice on which company to choose for buying health insurance. So, if you are looking for the best advisor, you are in the right place. MoneySpring is the best financial advisor. Our team comprises seasoned and experienced professionals who will guide you in choosing the best.
The key reasons to choose MoneySpring are- simple KYC, smart recommendations, hassle-free transactions, easier planning, and the meaningful insights we provide.
Best Health Insurance companies in India
According to MoneySpring, some of the best health insurance companies and the key features of their best plans are as follows-
- ICICI Lombard Super Top Up Plan
-It provides an additional sum insured up to 100% for every claim.
-It is a comprehensive health insurance policy with an adequate sum assured which can help you meet unplanned health care expenses.
-It helps to secure wellness, health, and maternity expenses.
-It provides flexibility to pay premiums once, for a limited period, or throughout the policy.
- Manipal Cigna Pro Health Plus Plan
-It provides inflation protection and a Cumulative Bonus of up to 200% of the Sum Insured.
-It allows you more coverage with 100% Restoration of Sum Insured any number of times.
-It has worldwide Protection in case of emergency, available on a reimbursement basis.
-This plan covers pre and post-hospitalization.
- The New India Assurance Floater Mediclaim Policy
-They provide a Cumulative Bonus of @25% SI for a claim-free year with Max 50% of SI.
-They allow Critical Care Benefit - 10% of the Sum Insured.
-For Cataract claims, they have the provision of up to 10% of the Sum Insured or Rs. 50,000 whichever less, for each eye.
-They provide Hospital Cash at the rate of 0.1% Sum Insured per day, up to a maximum of 1% Sum Insured.
-They offer three optional covers which you can avail yourself of as per your requirement.
You can go through the details of these plans from our website and choose the one which suits you the most.
To choose the best health insurance provider and their best plan, refer to MoneySpring and be assured to have the best for yourself and your family. With our advice, you will get the exact details of the available options and the most suitable health insurance plan. Feel free to contact us and secure your family’s health with the best insurance plan.