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Steps to Find Best Health Insurance Company in India 2025
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Do you know how many health insurance companies are there in India?
More than two dozen! Each company offers a variety of health insurance plans and you are spoilt for choice. Among so many health insurers, do you know how to find the best health insurance company in India?
Here are 7 steps which would help you to find the best company for your health insurance needs:
1. Look for the company’s claim settlement ratio
Claim settlement ratio represents the claim payment record of the company. It is calculated as the proportion of claims paid against the total claims raised. The higher the ratio the better the company is in terms of paying claims. So, look for the company’s claim settlement ratio. Choose the company which has the highest ratio.
2. Understand the claim process
The next thing to understand is the health insurance claim process of the company. Find out if the company has an in-house claim settlement team of is tied up with a third party administrator. An in-house team is better as the claim gets settled easily. Also find out the claim settlement process. Choose cashless claims as they are more convenient for your finances.
3. The company’s hospital network
Cashless claim is provided only if you seek treatment in a hospital which is tied-up with the insurance company. So, find out the company’s list of networked hospitals. The more comprehensive the list the easier would it be for you to locate a networked hospital and avail cashless treatment.
4. The premium charged
This is another important consideration when finding the best health insurer. Since the premium is your expense, the lower the better. Compare health insurance premium of different companies to find out the best. However, comparison should be done keeping in mind the coverage offered too.
5. The coverage features
Look at the coverage features offered by the company’s health insurance plans. These features should match your coverage requirements. Furthermore, if the features are comprehensive, you can avail a more inclusive coverage. So, look for companies offering plans with more inclusive coverage features.
6. Value-added services
Health insurance companies have a fierce competition among themselves. As such, they offer various value-added services to score an edge over their rivals. You should look for the available value-added features. The better the features the better would be your health insurance experience.
7. Terms and conditions on coverage features
Health insurance companies impose waiting periods, restrictions and limits on their coverage features. These terms and conditions restrict the scope of coverage. Look for these restricting features in health plans and choose a company whose plan does not have too much restriction.
Use these yardsticks to compare different health insurance companies and find the best insurer in India.
Young and healthy? Find out which of these plans rewards you with lower premiums. Click here to check now!
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 21 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Over to You
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The Star Health Red Carpet Plan is made with senior citizens in mind. With benefits like annual preventive check-ups, it helps you or your ageing parents get covered without the usual hassles. On the other hand, the Care Health Enhance Plan acts as a top-up cover, ideal if you already have a base health policy and want to increase your shield without increasing your premium by too much.
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Speak to an Advisor The Star Health Red Carpet Plan is made with senior citizens in mind. With benefits like annual preventive check-ups, it helps you or your ageing parents get covered without the usual hassles. On the other hand, the Care Health Enhance Plan acts as a top-up cover, ideal if you already have a base health policy and want to increase your shield without increasing your premium by too much.
While health insurance takes care of medical needs, don’t forget to plan for life’s bigger what-ifs. A term Insurance policy, especially a 1 crore term insurance plan, can be the long-term security net your family needs. Health and life coverage go hand in hand. And when chosen right, they help you face the future with confidence, not chaos.
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