With rising healthcare costs and the increasing burden of lifestyle diseases, having a comprehensive health policy has become more important than ever before. India is home to several standalone health policy companies that offer a wide range of coverage options to cater to the diverse healthcare needs of its population.
In this article, we will explore five of the most prominent standalone health insurance companies in India. We will delve into the unique features and benefits offered by each company, their claim settlement ratio, and customer satisfaction ratings to help you make an informed decision when choosing a health plan provider.
From innovative policies that cover alternative treatments and mental health to cashless hospitalisation and critical illness coverage, these companies are changing the game when it comes to healthcare in India. So, let’s dive in and take a closer look at what sets these medical insurance companies apart from the rest.
5 Standalone Health Insurance Companies in India
Niva Bupa Health Insurance
With an Incurred Claim Ratio of 50.19% for the fiscal year 2022–2023, Niva Bupa Health Insurance Firm Limited is a standalone health plan firm in India. People of all ages can get health policies from this company. Here are a few advantages provided by Niva Bupa Health plan:
- Cashless hospitalisation is available through Niva Bupa health plans across all of India at its +8600 network hospitals.
- The insurance also offers 30-minute cashless claim authorisation.
- Life-threatening illnesses are covered by the Niva Bupa Criticare medical insurance program.
Aditya Birla Health Policy
Aditya Birla Capital Ltd.’s subsidiary is the Aditya Birla Health Policy Company. It was established to make general insurance services for its clients simpler. Worldwide insurance providers, including those in South-East Asia, the Middle East, and South Asia, highly regard the company.
The advantages and characteristics of purchasing medical insurance from the Aditya Birla insurance organisation are as follows:
- The insurance provider provides cashless services in 650 Indian cities and more than 8700 hospitals.
- The insurance provider provides access to more than 800 gyms, yoga studios, and other facilities.
- Additionally, the policyholders are eligible for discounts on medications at 2300 pharmacies located in more than 250 locations.
- According to the chosen plan, in-patient Ayush treatment coverage is also offered.
- Along with hospitalisation facilities, the insurance provider also grants access to wellness, diagnostic, and fitness evaluation facilities.
Care Health Policy
In a short amount of time, Care Health Plan Limited has experienced phenomenal growth, becoming a benchmark in the Indian insurance industry. Some of the main characteristics of Care Medical Insurance plans are as follows:
- There is a plan to suit everyone’s needs, including individual and family floater plans, plans for those with diabetes and high blood pressure, plans for senior citizens, and top-up plans.
- In the majority of cases, the insurer provides cashless claim approval within two hours.
- The majority of plans provide insured members with access to yearly health examinations.
- Care Health Care Heart plan is provided for pre-existing conditions and yearly cardiac exams.
Reliance Health Plan
One of the most well-known insurance companies in India is Reliance General Insurance Co. Ltd. Reliance medical insurance policies are readily accessible with online purchase and renewal options.
- The insurance provider gives you a choice to conveniently make the payment online using your debit card, credit card, net banking, etc.
- Pre-existing conditions are also covered following a 4-year waiting period.
- Most Reliance medical insurance policies repay health check-up costs after four years with no claims.
Conclusion
The Indian medical insurance market has seen tremendous growth in recent years, and several standalone health insurance companies in India have emerged as key players in the industry.
From affordable basic plans to comprehensive policies that cover critical illnesses, these companies have demonstrated their commitment to providing accessible healthcare to all. With the increasing importance of health plans in the wake of the COVID-19 pandemic, these companies are poised to play an even more significant role in the Indian healthcare landscape.
With their focus on customer-centricity, innovation, and affordability, these companies are well-positioned to shape the future of healthcare in India and provide millions of Indians with access to quality healthcare.