3284
3 min read
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?
Visual stories by PayBima
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.
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.
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.
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.
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.
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.
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.
Choose wisely!
Also Read: Why Company Sponsored Group Health Insurance Plan is Not Enough?
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
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 17 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.
AYUSH treatments have recently generated massive popularity as an emerging branch of medicine. Looking at the increasing demand for the treatment, it has become imperative.
The year 2024 started with some groundbreaking measures and initiatives in the health insurance sector to facilitate policyholders with better health coverage and benefits. One.
Our knee is an important joint in the entire musculoskeletal system. The support and strength of the knee are pivotal for fluid movement and locomotion..
Updated on Jan 30, 2024 Understanding how OPD and IPD are two different terms in medical science, their coverage in health insurance plans and the.
Updated on Jan 23, 2024 February 10 marks the National Deworming Day observed every year across India. Let us understand the importance of deworming and.
Insurance is an indispensable requirement. However, not everyone can afford individual medical insurance to stay covered against major uncertainties, especially after retirement. If that is.
Updated on Feb 22, 2024 World Cancer Day aims at educating people and spreading awareness about detecting cancer and its prevention and treatment. Let us.
Updated on Jan 23, 2024 Rare Disease Day is an occasion observed on the last day of February every year. This year February 28 marks.
Cancer is a disease that needs no introduction. We all know how deadly the disease is and how rapidly it is spreading across the world,.
Updated on Jan 30, 2024 What is Insurance Regulatory and Development Authority (IRDA)? - Know in Detail The Insurance Regulatory and Development Authority of India.
Speak to our advisor
Mahindra Insurance Brokers Limited (A Mahindra Group Company) - Unit-202, A-Wing, 2nd Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, LBS Marg, Kurla West, Mumbai - 400070. Tel: +91 22 66423800
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2024 Mahindra Insurance Brokers. All Right Reserved.
Verify your number to activate your best premium offer
Please enter the OTP sent to XXXXXX 4099 to continue