Health Insurance Companies in India

The health insurance industry was started in 1986, and has since then seen exponential growth in a market that’s potentially worth billions. The market is slowly becoming more aware of the benefits of health insurance cover, and with the liberalized economy we currently live in, seems poised to grow in leaps and bounds

In 2011, 3.9% of India's GDP was spent in the health sector. Out of this 3.9%, health insurance accounts for 5-10% of expenditure, employers account for around 9% while personal expenditure amounts to 82%. This means that an astounding number of individuals have paid for their healthcare out of their own pockets. An expense that could have been saved by availing a health insurance policy from one of the following

Overview of Health Insurance Companies:

Company	Features	Link to Page
United India Insurance Co. Ltd.	Started in 1938 and nationalized in 1972, the company provides a variety of insurance products to over 1 crore customers. Net worth of Rs.5,361 crores as on financial year 2013-14. Coverage for up to 4 family members (2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. 20% co-payment for senior citizens on major illnesses. Lifetime renewability. Pre-existing diseases covered after 4 years. 10% deductible for claims by customers over the age of 60. Cashless hospitalization in over 7,000 hospitals across India.	Read more about United India Health Insurance
New India Assurance Co. Ltd.	Founded in 1919 and wholly owned by the Indian Government, this company has over 2,097 offices and 1,041 micro-offices across India. Net worth of over Rs.10,000 crore as on financial year 2012-13. Coverage for up to 6 family members (2 adults and 4 children). Medical expenses covered 30 days before and 60 days after hospitalization. 10% co-payment for claims arising out of pre-existing medical conditions. Lifetime renewability. Pre-existing diseases covered after 4 years. Over 1,200 network hospitals across India.	Read more about New India Health Insurance.
Oriental Insurance Co. Ltd.	Founded in 1947, the company has over 30 regional and 1,800 operating offices across the country. Underwritten premium of over Rs.7,282 crore. Coverage for up to 7 family members including 4 adults. Medical expenses covered 30 days before and 60 days after hospitalization. 10% co-payment of claim amount has to be paid by the insured. Lifetime renewability. Pre-existing diseases covered after 4 years. Over 4,300 network hospitals across India.	Read more about Oriental Health Insurance.
National Insurance Co. Ltd.	Established in 1906 and nationalised in 1972, this company functions out of 1,340 offices and 373 centres across India. Direct premium income of over Rs.9,000 crore in financial year 2012-13. Coverage for up to 6 family members. Medical expenses covered 30 days before and 60 days after hospitalization. No co-pay, and 10% discount on premium on acceptance of 2% co-pay scheme. Lifetime renewability. Pre-existing diseases covered after 4 years. Cashless hospitalization in over 6,000 hospitals across India.	Read more about National Health Insurance
SBI General Insurance Co. Ltd.	The resultant company of a joint venture between State Bank of India (which holds a 74% stake) and Insurance Australia Group (which holds a 26% stake), SBI General Insurance Co. Ltd. Operates out of 14,000 official branches of SBI. Gross written premium of Rs.1,188 crore in financial year 2013-14. Coverage for up to 4 family members (2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. 10% co-pay on all admissible claims. Lifetime renewability. Pre-existing diseases covered after 4 years. Over 4,400 network hospitals across India.	Read more about SBI Health Insurance
Star Health and Allied Insurance Co. Ltd.	India’s first standalone health insurance provider. Just over Rs.736 crore net premium revenue as of December 2014. Coverage for up to 4 family members (2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. No co-pay, but 20% of the claim to be paid by insured persons between 61 and 65 years old. Lifetime renewability. Pre-existing diseases covered after 4 years. Over 6,000 network hospitals across India.	Read more about Star Health Insurance
Religare Health Insurance Co. Ltd.	Standalone health insurance provider comprising of three entities – Religare Enterprises Limited, Union Bank of India and Corporation Bank. Gross written premium of Rs. 275.8 crore for the financial year 2014-15. Coverage for up to 6 family members (with up to 2 adults). Medical expenses covered 30 days before and 60 days after hospitalization. No co-pay, first claim for insured persons over 61 years must pay 20% of the claim amount. Lifetime renewability. Pre-existing diseases covered after 4 years. Cashless hospitalization at over 4,500 hospitals across India.	Read more about Religare Health Insurance
Apollo Munich Health Insurance Co. Ltd	The result of a merger between Apollo Hospitals and Munich Health in August 2007.4 Net premium earned of over Rs.488 crore up to the quarter ending 31-12-2014. Coverage for up to 6 family members (with up to 2 adults). Medical expenses covered 60 days before and 90 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 3 years. Cashless hospitalization at over 4,000 hospitals across India.	Read more about Apollo Munich Health Insurance
Max Bupa Health Insurance Co. Ltd	The result of a joint venture between Max India Limited and Bupa Financial PLC, UK, Max Bupa Health Insurance Company serves a 29 million-strong customer base across 190 countries. Net premiums earned of Rs.234 crores as of 31st December 2014. Coverage for up to 4 family members (2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. No co-pay, except 20% if insured is over 65 years of age. Lifetime renewability. Pre-existing diseases covered after 4 years. Cashless hospitalization in over 3,500 hospitals across India.	Read more about Max Bupa Health Insurance
Cigna TTK Health Insurance Co. Ltd	Starting operations in February 2014, this company is the result of a joint venture between the TTK group and Cigna Corporation, USA. Over Rs.82 crore in operating profit. Coverage for up to 4 family members (with up to 2 adults and 2 children). Medical expenses covered 60 days before and 90 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 4 years. Over 4,000 network hospitals across India.	Read more about Cigna TTK Health Insurance
ICICI Lombard General Insurance Co. Ltd	This is one of the largest private sector general insurance companies, and is the result of a merger between ICICI Bank Limited and Fairfax Financial Holdings Limited, Canada. Gross written premium of Rs.71.34 billion for the financial year ended March 31st, 2014. Coverage for up to 4 family members (with up to 2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 4 years. Cashless hospitalization in over 4,500 network hospitals across India.	Read more about ICICI Lombard Health Insurance
Bharti AXA General Insurance Co. Ltd	This joint venture between Bharti Enterprises (which holds a 74% stake) and AXA Group (which holds a 26% stake) commenced national operations in 2008 and operates out of 59 branch offices across India. Over Rs.690 crores in net premiums earned. Coverage for up to 4 family members (with up to 2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 4 years. Over 5,000 network hospitals across India.	Read more about Bharti AXA Health Insurance
Cholamandalam MS General Insurance Co. Ltd	Headquartered in Chennai, the Cholamandalam MS General Insurance Company is the result of a joint venture between Murugappa Group, India, and Mitsui Sumitomo Insurance Group, Japan. Over Rs.1,370 crore revenue from direct written premium. Coverage for up to 5 family members (up to 2 adults and 3 children). Medical expenses covered 60 days before and 90 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 4 years. Cashless hospitalization at over 2,600 hospitals across India	Read more about Chola MS Health Insurance
Future Generali India Insurance Co. Ltd.	This is joint venture between Future Group, India and Generali group, Italy began operations in 2006, headquartered in Mumbai. Over Rs.899 crore in net premium earned. Coverage for up to 4 family members (2 adults and 2 children). Medical expenses covered 60 days before and 90 days after hospitalization. 30% co-pay for customers in Zone-A (Mumbai, Delhi, NCR) and 20% co-pay for those in Zone-B (Chennai, Kolkata, Bangalore, Ahmedabad, Hyderabad). No co-payment for remaining areas. Lifetime renewability. Pre-existing diseases covered after 4 years. Over 4,300 network hospitals across India.	Read more about Future Generali Health Insurance
HDFC ERGO General Insurance Co. Ltd	This company is a joint venture between HDFC Ltd (which holds a 74% stake) and ERGO International AG (which holds a 26% stake). ERGO International AG is the primary insurance unit of the Munch RE Group. HDFC ERGO is India’s 4th largest private sector general insurance provider with 104 branches in 87 cities across India. Over Rs.1,409 crore in net premium earned. Coverage for up to 4 family members (2 adults and 2 children). Medical expenses covered 60 days before and 90 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 4 years. Cashless hospitalization in over 4,800 hospitals across India.	Read more about HDFC ERGO Health Insurance
IFFCO Tokio General Insurance Co. Ltd	This joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and Tokio Marine and Nichido Fire Group came into force in December, 2000. It provides insurance products through its 65 Strategic Business Units, 120 lateral Spread Centres and 255 Bima Kendras – across India. Over Rs.177 crore in profits (before taxation) for the period ended 31st December, 2014. Coverage for up to 5 family members (up to 2 adults and 3 children). Medical expenses covered 60 days before and 60 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 3 years. Cashless hospitalization in over 3,000 hospitals across India	Read more about IFFCO Tokio Health Insurance
L&T General Insurance Co. Ltd	This company is a wholly owned subsidiary of Larsen &Toubro Limited. Over Rs.175 crore in new premium earned. Coverage for up to 4 family members (with up to 2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. 10% co-pay if the age of the insured is above 80. Lifetime renewability. Pre-existing diseases covered after 3 years. Over 2,800 network hospitals across India.	Read more about L&T Health Insurance
Reliance General Insurance Co. Ltd	One of the largest private sector insurance providers in the country with a wide presence in over 102 cities and various distribution channels. Profit of over Rs.837 crore as of the period ended 31st December, 2014. Coverage for up to 4 family members (2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 4 years. Cashless hospitalization in over 4,000 network hospitals across India.	Read more about Reliance Health Insurance
Royal Sundaram Alliance Insurance Co. Ltd	The first private sector general insurance company to be licensed in India since 2001, Royal Sundaram Alliance Insurance Company provides financial services to over 5 million customers. Profit of over Rs.172 crore for the quarter ending on 31st December 2014. Coverage for up to 5 family members. Medical expenses covered 30 days before and 60 days after hospitalization. No co-pay. Lifetime renewability. Pre-existing diseases covered after 3 years. Cashless hospitalization in over 3,000 network hospitals across India.	Read more about Royal Sundaram Health Insurance
Bajaj Allianz General Insurance Co. Ltd.	This company is the result of a joint venture between Bajaj Finserv Limited (which holds a 74% stake) and Allianz SE (which holds a 26% stake) on 31st March 2013. Over Rs.1424 crore in net premium earned. Coverage for up to 6 family members (with up to 2 adults and 4 children). Medical expenses covered 60 days before and 90 days after hospitalization. 10% co-payment in non-network hospitals which can be waived off on payment of an additional 10% of loading on premium. Lifetime renewability. Pre-existing diseases covered after 4 years. Cashless hospitalization in over 3,700 network hospitals across India.	Read more about Bajaj Allianz Health Insurance
Universal Sompo General Insurance Co. Ltd.	This is a first-of-its-kind public-private partnership company in the Indian General Insurance industry. It is a joint venture between Allahabad Bank, Indian Overseas Bank, Karnataka Bank Ltd., Dabur Investment Corporation and Sompo Japan Nipponkoa Insurance Inc. Over Rs.331 crore in net premium earned. Coverage for up to 4 family members (2 adults and 2 children). Medical expenses covered 30 days before and 60 days after hospitalization. 20% co-pay for all insured persons’ claims who are above the age of 55. Policy can be renewed up to the age of 70 without any breaks in payment. Pre-existing diseases covered after 4 years. Cashless hospitalization in over 5,000 network hospitals across India.	Read more about Universal Sompo Health Insurance

Comparative Analysis of Best Health Insurance Companies in India:

Insurance Provider	Coverage	Pre and post hospitalization expenses cover	Co-pay	Renewability	Pre-existing disease cover	Network hospitals	Incurred Claim Ratio*
*Public Sector*
United India Insurance Co. Ltd.	Up to 4 family members (2 adult and 2 children).	30 days pre and 60 days post hospitalization.	20% for senior citizens on major illnesses.	Lifetime.	After 4 years.	7000	97.68%
New India Assurance Co. Ltd.	Up to 6 family members (2 adult and 4 children).	30 days pre and 60 days post hospitalization.	10% on pre-existing medical conditions.	Lifetime.	After 4 years.	1200	97.24%
Oriental Insurance Co. Ltd.	Up to 7 family members including 4 adults.	30 days pre and 60 days post hospitalization.	10%.	Lifetime.	After 4 years.	4300	102.38%
National Insurance Co. Ltd.	Up to 6 family members.	30 days pre and 60 days post hospitalization.	No co-pay. 10% discounted premium if opted for 2% co-pay scheme.	Lifetime.	After 4 years.	6000	105.09%
SBI General Insurance Co. Ltd.	Up to 4 family members.	30 days pre and 60 days post hospitalization.	10%.	Lifetime.	After 4 years.	4400	122.82%
*Private Sector*
Star Health and Allied Insurance Co. Ltd.	Up to 4 family members (2 adults and 2 children).	30 days pre and 60 days post hospitalization.	20% for those 61 - 65 years old.	Lifetime.	After 4 years.	6000	95.76%
Religare Health Insurance Co. Ltd.	Up to 6 family members (with up to 2 adults).	30 days pre and 60 days post hospitalization.	20% on first claim only for those above 61 years of age.	Lifetime.	After 4 years.	4500	Data unavailable.
Apollo Munich Health Insurance Co. Ltd.	Up to 6 family members (with up to 2 adults).	60 days pre and 90 days post hospitalization.	No co-pay.	Lifetime.	After 3 years.	4000	58.20%
Max Bupa Health Insurance Co. Ltd.	Up to 4 family members (2 adult and 2 children).	30 days pre and 60 days post hospitalization.	20% if insured is above 65 years of age.	Lifetime.	After 4 years.	3500	56.15%
Cigna TTK Health Insurance Co. Ltd.	Up to 4 family members (2 adult and 2 children).	60 days pre and 90 days post hospitalization.	No co-pay.	Lifetime.	After 4 years.	4000	Data unavailable.
ICICI Lombard General Insurance Co. Ltd.	Up to 4 family members (2 adult and 2 children).	30 days pre and 60 days post hospitalization.	No co-pay.	Lifetime.	After 4 years.	4500	86.19%
Bharti Axa General Insurance Co. Ltd.	Up to 4 family members (2 adult and 2 children).	30 days pre and 60 days post hospitalization.	No co-pay.	Lifetime.	After 4 years.	5000	80.44%
Cholamandalam MS General Insurance Co. Ltd.	Up to 5 family members (up to 2 adults and 3 children)	60 days pre and 90 days post hospitalization.	No co-pay.	Lifetime.	After 4 years.	2600	76.51%
Future Generali India Insurance Co. Ltd.	Up to 4 family members (2 adult and 2 children).	60 days pre and 90 days post hospitalization.	30% in Zone-A (Mumbai, Delhi, NCR) and 20% in Zone-B (Chennai, Kolkata, Bangalore, Ahmedabad, Hyderabad). No co-pay for remaining areas.	Lifetime.	After 4 years.	4300	85.58%
HDFC ERGO General Insurance Co. Ltd.	Up to 4 family members (2 adult and 2 children).	60 days pre and 90 days post hospitalization.	No co-pay.	Lifetime.	After 4 years.	4800	67.53%
IFFCO Tokio General Insurance Co. Ltd.	Up to 5 family members (up to 2 adults and 3 children)	60 days pre and 60 days post hospitalization.	No co-pay.	Lifetime.	After 3 years.	3000	85.79%
L&T General Insurance Co. Ltd.	Up to 4 family members (2 adult and 2 children).	30 days pre and 60 days post hospitalization.	10% if insured person is above 80 years old.	Lifetime.	After 3 years.	2800	183.40%
Reliance General Insurance Co, Ltd.	Up to 4 family members (2 adult and 2 children).	30 days pre and 60 days post hospitalization.	No co-pay.	Lifetime.	After 4 years.	4000	85.77%
Royal Sundaram Alliance Insurance Co. Ltd.	Up to 5 family members.	30 days pre and 60 days post hospitalization.	No co-pay.	Lifetime.	After 3 years.	3000	50.86%
Bajaj Allianz General Insurance Co. Ltd.	Up to 6 family members (2 adults and 4 children).	60 days pre and 90 days post hospitalization.	10% in non-network hospitals. Waived off if 10% loading is paid on premium.	Lifetime.	After 4 years.	3700	66.52%
*Public-Private Sector*
Universal Sompo General Insurance Co. Ltd.	Up to 4 family members (2 adults and 2 children).	30 days pre and 60 days post hospitalization.	20% if insured person is over 55 years old.	Renewable up to 70 years of age.	After 4 years.	5000	102.59%

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News About Health Insurance Companies

IRDAI to Add more Health Conditions to Health Insurance Policies
The Insurance Regulatory and Development Authority of India (IRDAI) plans to reduce the number of medical conditions that have been excluded from health insurance policies. The move is aimed at standardising policies and improving coverage for policyholders.

According to experts in the field, insurance providers should give policyholders the option of choosing the premium amount based on the conditions that have been excluded from the policy’s coverage. The suggestions for the change will be submitted in the next 8 weeks.

The health insurance policies available at the moment exclude a number of conditions including congenital disorders. The Delhi High Court ruled that insurance providers excluding genetic conditions from their list of conditions covered is a ‘violation of citizens’ right to health’. This decision has called for standardisation of the conditions excluded in current policies.

7 August 2018
States do not favour NHPS over own health insurance schemes
The National Health Protection Scheme (NHPS), dubbed Modicare, announced by the Central Government in the Union Budget 2018 could see rough waters due to states not willing to push the scheme over the existing state schemes.

Gujarat Deputy Chief Minister, Nitin Patel, said that the state government is not too eager to withdraw the state-run scheme. States are required to fund 40% of Modicare costs and hence, feel that this will be an overhead when running both schemes together. NITI Aayog heads the initiative, and it will meet up with state health secretaries to discuss the rollout of the programme.

Modicare could also encounter hurdles with respect to the uniformity of the plan. Here is a snapshot of some of the existing state run schemes that are already doing well:

Gujarat - Mukhyamantri Amrutam Yojana insures people with annual income less than Rs.2.5 lakh. Fix-pay employees of class 3 & 4 and reporters are also covered. Sum assured is Rs.2 lakh.

Tamil Nadu - Kalaignar Kappeettu Thittam covers individuals with annual income up to Rs.72,000. Sum assured is Rs.2 lakh.

West Bengal - Swasthya Sathi covers 3.9 million families and also volunteers and workers of self-help groups, disaster management teams, police, and Gram Panchayat. Sum assured is between Rs.1.5 lakh and Rs.5 lakh (for critical illnesses).

20 February 2018
Kerala speaker willing to review medical insurance
Surrounded by a controversy for claiming reimbursement on a pair of spectacles, the speaker of the Kerala Legislative Assembly, Mr. P Sreeramakrishnan showed willingness to discuss about medical insurance. The controversy came to light after a Right to Information (RTI) query filed by an activist. Under the rules, a legislator is eligible for reimbursements for medical bills from the state. However, a committee lead by Justice JM James recommended health insurance for the lawmakers instead. The committee also suggested a 30% hike in the salaries of the legislators.

The speaker cleared the air saying that he had to opt for the expensive lenses that costed Rs.45,000 since his doctor had recommended it. According to the Kerala government rules, there was no cap on the lens price but the cost of the frames couldn’t exceed Rs. 5,000.

13 February 2018
North India lags behind South India in health insurance
In terms of health insurance coverage, the states in South India have a higher coverage as compared to the North Indian states, a recent government survey revealed. The survey, termed as the National Family Health Survey, established a huge gap between the northern and the southern parts of India. Tamil Nadu, Andhra Pradesh, and Telangana showed the highest coverage while the numbers were low for states like Assam, Bihar, and Uttar Pradesh. On the top of the list was Andhra Pradesh, with a coverage of 75% households. Jammu & Kashmir, Lakshadweep, and Manipur displayed a poor health insurance coverage of less than 5%. Among those covered under a health insurance scheme in the 15-49 age range, 23% are men and 20% women.

11 February 2018
Biocon CMD labels health insurance as a show stealer in budget 2018
Kiran Mazumdar Shaw, the CMD of Biocon was impressed by the importance given to the health insurance segment in this year’s budget. She labelled health insurance as one of the biggest takeaways in the budget 2018. Around 10 crore households were promised to be included under the insurance umbrella of the National Health Protection Scheme. Shaw feels that there was a need for such a scheme in the country since long without which the poor will otherwise continue to be poor. She expressed her views on the budget by saying that she was quite impressed with it and is looking forward to the scheme being implemented successfully.

8 February 2018
Little Impact Shown by Government Funded Health Insurance Schemes

Government run health insurance schemes in India have done little to help the people who are hospitalised as they still have too still shell out money for expenses incurred during hospitalisation. Chhattisgarh was used as an example as it has the maximum number of registered beneficiaries that fall under a health insurance scheme in India. Researchers found out that 66% of the number of individuals who are insured had to pay for hospital expenses from their own pockets as hospitalisation charges. One of the researchers, Sulakshna Nandi, confirmed these reports by stating that one of most eye-catching finds of the study is that a large number of people who have a valid health insurance policy had to shell out a lot of money to clear hospitalisation charges incurred at government hospitals. Oommen John, a medicine specialist at The George Institute for Global Health, stated that patients are required to purchase consumables such as drugs, medicines, etc. when an insured has to undergo a surgery even if the surgery is covered under a health insurance scheme. This adds up to the overall cost.

4 December 2016
Compulsory Listing of Insurance Companies Put On Hold

The mandatory listing of all insurance companies on the bourses has been suspended temporarily. The IRDAI, India’s insurance regulatory body has put this directive on hold following a Finance Ministry notification. A spokesperson for IRDAI has confirmed the directive is no longer in effect, adding that the body will wait and re-consider the ramifications of such a move. A discussion on listing both life and non-life insurance companies was issued but a number of companies could not voice their opinions within the short time frame provided.

The insurance companies were wary of the forced listing leading to too much consolidation in the insurance sector. The other fear is companies with smaller capital at their disposal will find it difficult to improve their share price and get an adequate price. As a result, the companies requested the Finance Ministry to look into the matter. The resultant intervention led to the compulsory listing being put on hold. As of now, the only insurance company to float a public issue has been ICICI Prudential. Health insurance companies are reluctant to be listed publicly, with companies stating the need to have more private companies to increase coverage.

20 October 2016
Losses reported by General Insurance Companies

A number of General Insurance Companies are reporting a decline in their profits, primarily on account of underwriting losses incurred in their motor and health departments. The motor and health segment has always been viewed as dicey for insurers, with an increase in the number of claims in these segments resulting in losses for them. Added competition has resulted in insurers providing packages at lower rates, which has reduced the profit margins.

Increased cost of treatment in the healthcare sector combined with self-damage and third party claims for motor insurance have resulted in more pay-outs, resulting in underwriting losses for most companies. Profits of most insurers were limited to smaller segments like engineering and fire, where limited claims are made.

27 May 2016
Online health insurance launched by Liberty Videocon General Insurance

Liberty Videocon General Insurance has taken a progressive step in terms of health insurance by making it accessible to customers via Liberty Health Connect - an online platform. This is being deemed as an inclusion after the tremendous popularity of the company’s flagship health insurance product – Liberty Health Connect Policy. Since its launch in December 2014, this product has been extremely successful, and is now being made available to a pool of online customers. With a launch on an online platform, not only is the customer base expected to rise, but it also ensures enhanced convenience and smooth functioning for the customers.

The user interface for sales has been specifically designed to assist customers in navigating in the least possible time to buy the product. With a plethora of online tools, customers can get useful details of their policy like the policy number, etc. within a few minutes of buying the policy.

28 April 2016
General Insurance companies miss target of Rs 1 lakh crore

The insurance penetration in India has increased over the last few years, but the industry has failed to live up to certain ambitious targets. The general insurance industry which expected its premiums to cross the Rs 1 lakh crore mark fell short of it by around Rs 4,000 crore, mopping up around Rs 96,400 crore. While the targets weren’t met, this number is about 14% higher than the previous fiscal. Health and motor insurance saw the best growth under general insurance, helping the industry come closer to its expected target.

Both private and public sector companies saw an increase in their numbers, with the private sector accounting for premiums worth Rs 39,000 crore and the public sector roping in premiums worth Rs 47,700 crore.

19 April 2016

GST rate of 18% applicable for all financial services effective July 1, 2017.

Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

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Health Insurance Companies in India Reviews

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Health Insurance
"Family health cover policy"

0.5 5.0/5 "Blown Away!"

Based on my credit card, they have provided me a health insurance from HDFC Ergo. It covers for my entire family. They have given me a coverage amount of Rs. 6 lakhs. I have not applied for any claim till now. I pay the premium amount of Rs. 4,500 on every year. They cover most of the hospital in the city for that they provided me a list also.

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ANONYMS , chennai
Reviewed on Dec 08, 2019
Health Insurance
"Good one"

0.5 5.0/5 "Blown Away!"

There is no need to talk with the customer care of Oriental insurance and they have already provided the guidelines with the power point presentation and hospital list also. Most of the hospital is providing the cashless facility also. In my company they have provided me a health insurance from oriental. They have provided me a coverage amount of Rs. 3 lakhs which covers for myself.

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GUJAR , navi mumbai
Reviewed on Dec 07, 2019
Health Insurance
"Smooth transaction"

0.5 5.0/5 "Blown Away!"

I have taken a health insurance policy from my company and the insurance company is NATIONAL INSURANCE. The policy coverage was Rs. 2lakhs. Recently i got hospitalized and that was cashless treatment, and i got a claim also. This insurance covers all network hospitals. My company provides this policy me and my spouse and children. I got 90% of claim.

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k , pune
Reviewed on Dec 07, 2019
Health Insurance
"Best policy"

0.5 5.0/5 "Blown Away!"

I have taken a health insurance mediclaim policy from RELIGARE HEALTH. The coverage value I think its 3lakhs and i am paying premium on approximate of Rs. 13k-14k. This is a group policy they provided 2 policies one is group and other one individual. This is life long policy it covers all type of illness. Dental they wont cover in this policy and still there is a no claim.

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M , hyderabad
Reviewed on Dec 06, 2019
Health Insurance
"Very Good Policy"

0.5 5.0/5 "Blown Away!"

I have a health insurance from united India which is provided by my employer. I will recommend this medical insurance to all because the service was good and the claim disbursement time is very less within 25 days we are getting the claim amount. They processed the claim very fast and they are giving upto 80% coverage for my parents, myself, spouse and children the claim coverage up to 100%.

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MAHAMMAD , hyderabad
Reviewed on Dec 06, 2019
Health Insurance
"Best policy"

0.5 3.0/5 "Satisfactory"

I have taken a mediclaim policy from STAR HEALTH and this is a company policy. I am paying premium annually Rs. 14,000.This policy covers all type of critical illness and i went for claims 2 to 3 times its a cashless. They cover all network hospital and this is family floater policy.

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KHANGAONKAR , hospet
Reviewed on Dec 05, 2019
Health Insurance
"Good service"

0.5 5.0/5 "Blown Away!"

I have taken medi claim from ICICI LOMBARD GENERAL INSURANCE. The coverage value was Rs. 5,00,000 and I am paying premium Rs. 5000. This policy covers all type of critical illness day care treatment. This is a cash less policy last year I had done claim of 2L. This insurance covers all network hospitals and this is a group policy.

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A N , vijayawada
Reviewed on Dec 05, 2019
Health Insurance
"Average Policy"

0.5 3.0/5 "Satisfactory"

I have taken a health insurance from SBI General because from Government side, I can claim the amount if I apply for reimbursement. I have paid the premium amount of Rs. 1000 on every year. They have not explained me about the coverage amount.

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CHANDU , bangalore
Reviewed on Dec 05, 2019
Health Insurance
"Good"

0.5 3.0/5 "Satisfactory"

My employer has given me a health insurance policy from BAJAJ ALLIANZ on 5 years before. The coverage amount of 5L. On yearly basis they will renew my policy. The premium amount of 10K use to pay. It covers particular hospitals and with multi specialty. There is cashless treatment as well. It covers my whole family.

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SURESH , medak
Reviewed on Dec 04, 2019
Health Insurance
"Safety Policy"

0.5 4.0/5 "Great!"

Taken my health insurance from Birla Sun life. They approached me through call, when i accepted the same, they have given me a health insurance for my entire family with the coverage value of Rs. 3 lakhs. I have been paying the premium amount of Rs. 960 every month. In this policy, pre-existing disease has been covered.

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RAJA , dindigul
Reviewed on Dec 03, 2019
Health Insurance
"Good"

0.5 4.0/5 "Great!"

I have taken a health insurance policy from ROYAL SUNDARAM.This is an individual policy and the coverage was Rs. 5,00,000. Annual premium i am paying Rs. 2000. This insurance covers all type of critical illness and still there is a no claim. Every year i am getting reminder call but i am not getting call to include my family members.

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MAR , coimbatore
Reviewed on Nov 29, 2019
Health Insurance
"Best mediclaim"

0.5 5.0/5 "Blown Away!"

I have taken a health insurance policy from ADITYA BIRLA HEALTH INSURANCE. This is a group policy and the coverage was Rs. 2,00,000. I am paying yearly premium around Rs. 3500 and this policy covers all type of critical illness, some disease will not cover need to be get cover.This policy covers all network hospitals.

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ARUNKUMAR , coimbatore
Reviewed on Nov 29, 2019
Health Insurance
"Best policy"

0.5 5.0/5 "Blown Away!"

I have taken a health insurance from ORIENTAL INSURANCE. The coverage value was Rs. 5,00,000 and the premium i am paying Rs. 25,000. This is a group policy which covers all type of critical illness and also i am enjoying TAX benefits. I went for claim full amount i got reimburse and they have issued health ID card for claim it's very useful more over they cover all net work hospitals.

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GELLA , rajahmundry
Reviewed on Nov 28, 2019
Health Insurance
"Average"

0.5 4.5/5 "Excellent!"

I have taken a health insurance policy from STAR HEALTH and i am using this policy almost 12 years. This is a group insurance which covers my family also and the coverage value was Rs. 7,50,000. I am paying premium for this policy around Rs.35,000. Still now there is a no claim and also this policy covers all type of critical illness.

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HANIF , mumbai
Reviewed on Nov 28, 2019
Health Insurance
"Best policy"

0.5 4.0/5 "Great!"

I have taken a health insurance from ICICI LOMBARD. The policy coverage value was Rs. 3,00,000 and annually i am paying premium of Rs. 9000. This is a individual policy covers individually for me and my family members. Since there is a no claim and also it covers all type of critical illness.

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GOVARDHAN , hyderabad
Reviewed on Nov 27, 2019
Health Insurance
"Safety policy for family"

0.5 5.0/5 "Blown Away!"

Last 3 years, i have been renewing the policy with Star health insurance. I have chosen this insurance because of the quick response and they have a very good network hospital list. In most of the hospitals, they accepting cashless facility with this company. My entire family has been covered in this policy.

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A G , tirupur
Reviewed on Nov 26, 2019
Health Insurance
"Best health policy"

0.5 5.0/5 "Blown Away!"

I have taken a health insurance policy from STAR HEALTH and the coverage value was Rs. 7,00,000 This is a family policy which covers all my family members and this is a life long policy. Annual premium I am paying Rs. 15000 and also getting tax benefits.

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PRAKASH , coimbatore
Reviewed on Nov 25, 2019
Health Insurance
"Quite costly but good policy"

0.5 4.0/5 "Great!"

I have a health insurance from Religare. I haven't get any experience to claim on that. The policy has lots of benefits like it has a cashless tie up with lots of hospitals and the re-imbursement process also quite comfortable so that i got the policy from Religare. They are sending reminder messages before the policy get expired.

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PARAB , mumbai
Reviewed on Nov 25, 2019
Health Insurance
"Better Policy for insurance"

0.5 3.0/5 "Satisfactory"

My health insurance policy was taken from Royal Sundaram. This insurance policy i got 3 months before hence i didn't claim anything till now. I have paid the premium amount of Rs. 600 which covers only for myself. When i get my SBI credit card, they have a tie up with Royal Sundaram hence i got this. This policy would be helpful in the emergency case.

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FEROZ , hyderabad
Reviewed on Nov 25, 2019
Health Insurance
"Better Policy"

0.5 4.0/5 "Great!"

I have not claimed for the Bajaj Allianz health policy till date once i claim only i come to know about the features. I'm with the Bajaj company for many years so only I purchased this insurance. Yearly I pay the premium amount of Rs. 10000 approximately. This policy covers for myself and my wife. According to the policy, they are saying its cover for 10L.

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SAYED , navi mumbai
Reviewed on Nov 25, 2019