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How to Choose the Best Health Insurance Companies?

Health Insurance Policy

The choice of health insurance companies plays a very important role in the process of getting the best health insurance. With increase in awareness about health insurance, the number of buyers of health insurance policies has also increased.

And along with this, the total number of insurance providers has also gone up in the Indian market. Whether you are a new buyer looking for a health policy for the first time or an existing policy holder looking for a switch of the insurance provider, you can always use these tips to get the best health insurance company.

Identify the health insurance companies offering the lowest price.

Different health insurance companies might be offering plans with similar benefits but varying deductibles. Hence you should focus on finding the policy that offers all the benefits you need at the best price. While deciding on the health insurance company, consider both your family's probable health expenditure that will give an idea of your deductibles, and also the amount that will be affordable for you to be paid as monthly premiums.

Select the most appropriate health insurance policy.

Though there are myriad health insurance companies in India, yet not all of them offer every type of plans. Before deciding on the insurance company, find out the health needs of you and your family and the expected expenditure that you may incur in a month and also the type of plans that will serve your purpose. Only after comparing the plans available, decide on the health insurance company. You can easily get and compare plans from various medical insurance companies through online aggregators like You can also call their insurance experts for more information at 1800 123 4006 / 1800 123 4003.

Look for health insurance companies with larger networks

Not all medical insurance companies have same amount of doctor and hospital network coverage. The number of network hospitals, clinics and doctors are not the same with all health insurers. If you already have a preferred doctor and hospital that is a part of the network of a certain insurer, you need not worry about this point much. But in other situations it is always wise to choose a health insurance company that provides more options.

Consult your doctor.

If you already have a family physician or a preferred doctor who treats you and your family, check with him if he is included among the network doctors for any health insurance company and whether retaining him as your preferred doctor will be possible through any of their plans. This can be a deciding factor for you to choose a particular health insurance company.

You can log into the company portals of the insurance providers and check the full list of network doctors, clinics and hospitals.

Find out the health insurance company's claim settlement ratio

This is one of the most important factor you should base your choice on, the claim settlement ratio. The claim settlement ration is the number of claims settled by the company in a year as against the number of policies sold. It will not be a good judgment to choose a company with a low claim settlement ratio or one that does not have enough funds to settle big claims. If you do not get the required money during an emergency from your insurer, all your investment in health insurance can go for a waste.

Assess how user-friendly the health insurance company is.

Once you have shortlisted a few health insurance companies based on the above criterion, find out how user-friendly and customer centric they are. Whether they provide 24x7 customer support, online premium payment facility, etc. and how much these things are important to you.

Choosing the health insurance company carefully is a matter of utmost importance. How much of financial assistance you will get if you land up in some emergency in future will be decided by your choice of your health insurer.

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