Top 10 Health Insurance Companies in 2020

Top 10 Health Insurance Companies in 2020



Health insurance has become highly essential in today’s times majorly because of the steady rise in medical costs. It is a concern for many families as paying for medical treatment will imply a significant impact on one’s savings.

As a policy buyer, an individual must have a thorough understanding of one’s own health needs as well as complete knowledge about the various health plans. This is important in order to make the best decision for a secure future. Choosing the best health insurance plan online is a convenient option and highly recommended.

Many insurers in India offer a wide range of policies to cater to the diverse healthcare needs of individuals and families.

We list the best health insurance companies in 2020:

Star Health and Allied Insurance Co Ltd.

The company offers various health cover for individuals, families or corporates at attractive premiums. Its network spans over various cities in India that includes over 8,000 hospitals.

The claim settlement ratio for the company in the year 2018-19 is 90%. The insurer is recognized for having a seamless in-house claim settlement process and prompt customer support.

SBI General Insurance Company Limited

This insurance company is a joint venture between State Bank of India and Insurance Australia Group (IAG). SBI General Insurance Company Limited provides general insurance products and several health plans for various healthcare requirements. These plans offer a wide coverage ranging from INR 50,000 to INR 500,000.

Religare Health Insurance

Religare Health Insurance is a leading health insurance provider in India that offers a wide range of health plans for individuals, families and corporate employees. Moreover, the company offers mediclaim for specific health conditions like diabetes and heart ailments.

The company has a strong association with over 7,000 hospitals that offer cashless treatment facility for the policyholders. It has a claim settlement ratio of 92.58 percent for FY 2019.

Oriental Health Insurance

Oriental Health Insurance caters to individuals and families with its customized health policies. The Oriental Insurance Company Ltd. is a wholly-owned subsidiary of The Oriental Government Security Life Assurance Company Ltd.

The company offers support to many buyers through a team of technically qualified and competent professionals. There are over 4,300 hospitals under its network.

Max Bupa Health Insurance

A notable health insurance provider, Max Bupa Health Insurance provides various health plans such as Hospitalisation Plans, Accident Plans as well as Critical Illness Plans with global coverage. It has over 4,000 top-rated hospitals under its network.

The Incurred claim ratio for the company was 92% for the year 2018-19.

ICICI Lombard

ICICI Lombard is a well-known insurance company in the country catering to lakhs of customer across cities. The company offers a comprehensive range of health plans that are designed to meet the diverse needs.

The insurer has over 5,000 network hospitals and is recognised for ensuring timely and hassle-free claim settlement.

Tata AIG

Tata AIG General Insurance Company Limited is a joint venture between the Tata Group and the American International Group (AIG). The insurer is known for offering an extensive range of insurance products.

The company offers the best health plans like Medicare, Medicare Protect and Medicare Premier along with prompt claim settlement procedures.

Bajaj Allianz Health Insurance

A prominent insurance company in India, Bajaj Allianz Health Insurance offers customized health plans for lakhs of policy buyers and has over 6,500 network hospitals across India.

The company offers a number of health insurance plans and mediclaim policies for its customers at affordable premiums. The insurer had processed over 15.9 lakh health insurance claims during the FY 2018-19.

National Insurance Company Limited

It is the oldest General Insurance Company in India. National Insurance Company Limited is a subsidiary of General Insurance Corporation of India which is fully owned by the Government of India. Individual Plans, Medical Insurance for Family, Overseas Mediclaim Policy for travel emergencies, etc. are some of the plans offered by the insurer.

The New India Assurance Company Limited

It is a Multinational General Insurance Company that offers the best mediclaim plans with numerous features, including cashless treatment, lifetime renewal and free medical check-up. The company has over 1,200 hospitals across the country.

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