Know How Many Health Insurance Company Are in India

With the current state and expense of healthcare in India, such unplanned visits to the hospital can leave your finances exhausted. Thankfully, individuals securing their health with medical insurance do not need to incur such unplanned expenses.

A health insurance policy can help individuals finance their treatment, along with hospitalisation charges. In some cases, policyholders may be able to avoid spending any money from their own pockets, while seeking medical care from network hospitals and clinics.

Additional benefits of health insurance plans includes pre and post-hospitalisation expense coverage, daycare expense reimbursement, and attractive annual tax benefits.

List of Health Insurance Companies in India

Check the complete list of health insurance companies in India below:

• National Insurance Co. Ltd., 1906, Kolkata
• Go Digit General Insurance Ltd., 2016, Bengaluru
• Bajaj Allianz General Insurance Co. Ltd., 2001, Pune
• Cholamandalam MS General Insurance Co. Ltd., 2001, Chennai
• HDFC ERGO General Insurance Co. Ltd., 2002, Mumbai
• Future Generali India Insurance Co. Ltd., 2007, Mumbai
• The New India Assurance Co. Ltd., 1919, Mumbai
• Iffco Tokio General Insurance Co. Ltd., 2000, Gurugram
• Reliance General Insurance Co. Ltd., 2000, Mumbai
• Royal Sundaram General Insurance Co. Ltd., 2001, Chennai
• The Oriental Insurance Co. Ltd., 1947, New Delhi
• Tata AIG General Insurance Co. Ltd., 2001, Mumbai
• SBI General Insurance Co. Ltd., 2009, Mumbai
• Acko General Insurance Ltd., 2016, Mumbai
• Navi General Insurance Ltd., 2016, Mumbai
• Zuno Health Insurance Co. Ltd., 2016, Mumbai
• ICICI Lombard General Insurance Co. Ltd., 2001, Mumbai
• Kotak Mahindra General Insurance Co. Ltd., 2015, Mumbai
• Liberty General Insurance Ltd., 2013, Mumbai
• Magma HDI General Insurance Co. Ltd., 2009, Kolkata
• Raheja QBE General Insurance Co. Ltd., 2007, Mumbai
• United India Insurance Co. Ltd., 1938, Chennai
• Manipal Cigna Health Insurance Company Limited, 2014, Mumbai
• Aditya Birla Health Insurance Co. Ltd., 2015, Mumbai
• Star Health & Allied Insurance Co. Ltd., 2006, Chennai
• Niva Bupa Health Insurance Company Ltd., 2008, New Delhi
• Care Health Insurance Ltd., 2012, Gurgaon
• Universal Sompo General Insurance Co. Ltd, 2007, Mumbai

Things To Check Before Choosing a Health Insurance Policy

If you keep the following things in mind, the health insurance plan you purchase will likely provide you sufficient financial coverage.

• The reputation of the Brand - You need to be able to rely on your health insurance provider during medical emergencies. Thus, checking a company’s ratings on social media and other places online is an essential part of selecting it as your insurance provider. Keep your eyes peeled for negative comments or problems, that existing customers of the company face with its products or service.
• IRDAI Approval is Must - The Insurance Regulatory and Development Authority of India is a government entity, which is responsible for the regulation of insurance companies in India. Companies registered under it must abide by its guidelines, maintaining sufficient transparency in their activities. Thus, it is always wiser to stick to such IRDAI-approved companies when availing medical insurance for yourself or your family.
• Track Record of Claim Settlement - During a medical emergency, you may have extremely limited scope or time to arrange funds for treatment. At such a time, you require an insurance company that is quick to approve claim requests, providing the necessary financial assistance to ensure that proper care is not delayed. Before picking your insurance company, check its claim settlement ratio. It should give you a fair idea about the percentage of claims the company settles out of the ones it receives. Needless to say, higher ratios are desirable.
• Hassle-free Claims Process - A complicated claim filing procedure can leave you bogged down with formalities during an emergency. When a medical emergency strikes, you cannot afford to fill piles of paperwork to acquire the financial assistance you deserve. Therefore, before picking your health insurance company, always ensure that the provider follows a simple and hassle-free claims procedure, which is not time-consuming or confusing.
• Health Insurance Premiums - The amount of money you pay to afford medical coverage is another important factor to consider before purchasing a plan. Nevertheless, do not go by price alone. Instead, look for the policy with the best value for money. Compare prices while also considering the policy inclusions and exclusions. Doing so should help you pick an economic plan without compromising financial security during medical emergencies.

Conclusion

Perhaps the most important bit of advice for a potential health insurance buyer is to stick to purchasing such policies directly from the insurance company. Many prefer to go through agents when buying medical care. Still, direct transactions with the company are always more beneficial.

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