Top 10 Health Insurance Claim Settlement Ratio 2019-20
What is Health Insurance?
Health insurance is an insurance policy that will protect the policyholder and his family from medical costs arising out of any accident, illness, or any serious illness. Today, many companies offer health insurance plans to their clients that provide various benefits like tax benefits, cashless treatment in-network hospitals, etc.
How Health Insurance is beneficial for you?
In today’s life, finding quality health care treatment is very expensive. An average rating hospital has the capacity to end its savings over a few days. Instead of worrying about hospital bills, you need to focus your entire energy on recovery. Also, check heath insurance Claim Settlement Ratio IRDA. You can approach any network hospital along with your insurance provider tie up and recover peacefully.
Benefits of Health Insurance:
- Cashless treatment
- Pre and post-hospitalization expenses
- Tax benefit
- Daily hospital cash
- No claim bonus
- Organ transplantation expenses
- Free health check-up
- Restoration benefit
What are the basic types of Health Insurance present in the market?
- Critical illness plan
- Critical citizen health plan
- Maternity health insurance
- Individual health insurance
- Family floater health insurance
- Corona health insurance plan
- Unique linked health plan
Things to be kept in mind while buying health insurance:
- Provide coverage
- The credibility of the company
- Sum insured
- Co-payment and deductible
- Add-on profit
- Alternative to cashless claim
How to choose the right health insurance company?
The reputation of a company: The reputation and claim settlement of a company plays an important role. It is appropriate to go for a good reputative company. And also check the health insurance claim settlement ratio IRDA,
Health insurance claim settlement ratio list, and Health insurance claim settlement ratio chart. You have to do research which will help you choose the correct health insurance company.
Financial stability: You must have to check the financial stability of the company. You may also check the Credit Rating Information Services Of India Limited (CRISIL) rating. Go for A rating company as it is considered the most financial strength to meet its obligations.
Product portfolio: Do not forget that insurance is a large industry that changes with time. It is necessary, therefore, to go to a company that provides a number of subsidiary insurance policies that meet various customer needs.
Smooth and prompt claim settlement procedure: It is appropriate to find a good insurance company that follows a simple and highest claim settlement procedure. It is important to timely settlement of claims during emergencies so as to seek appropriate health facilities.
Customer support service: Focus on the quality and services of an insurance company, you may need to check the ratings and reviews of customers for the services provided. Choose an online chat, email support, and phone support provider company.
Insurance consultants: Insurance schemes are full of terms and conditions which are a little bit hard to understand. Health insurance Claim Settlement Ratio IRDA. But now many insurance companies will appoint insurance advisers which will help you to select an appropriate insurance plan as per your needs.
Feedback and review: You may check feedback and review the health insurance Claim Settlement Ratio Indian Insurance Regulatory And Development Authority (IRDA) website to check the number of proposals and complaints against the insurance company.
Also, Read- Max Bupa: Complete Protection for Your Family Health – Keyfeture
Health insurance claim settlement ratio list/chart 2019-20
Health insurance claim settlement ratio IRDA, Health insurance claim settlement ratio list, and Health insurance claim settlement ratio chart. Claim settlement ratio (CSR) is refers to the number of claims an insurer settled among rejected. If you are planning to buy health insurance then, this ratio will help to choose the correct insurance company for your health plan.
|1.||Bajaj Allianz Life Insurance Company||93.95%|
|2.||Iffco Tokio General Insurance Company||92.88%|
|3.||Care Health Insurance Company Limited||89.59%|
|4.||Max Bupa Health Insurance Company Limited||88.06%|
|5.||Apollo Munich Health Insurance Company||84.06%|
|6.||HDFC ERGO Health Insurance Company||82.99%|
|7.||Star Health Insurance Company Limited||79.34%|
|8.||National Insurance Company Limited||78.52%|
|9.||Bharti Axa Life Insurance||77.78%|
|10.||Reliance General Insurance Company||75.76%|
Bajaj Allianz Life Insurance Company: The Bajaj Allianz life insurance covers the highest claim settlement ratio of 93.95% in the year 2019-2020 life insurance company in India. It has a joint venture between two entities called the bajaj finserv and the Allianz. The company started its operations in 2001. With the help of 80,000+ agents, the company is serving millions of customers. The company offers a wide range of effective life insurance products and able to meet the different needs of its customers.
IFFCO Tokio General Insurance Company: In the year 2019-2020 IFFCO Tokio covers 92.88% Claim Settlement Ratio. The IFFCO Tokyo general insurance company was established on 4th December 2000 is a joint venture among the Indian farmer, fertilizer co-operative (IFFCO), and it’s associate (Tokyo Marine and Nichido Fire Group). IFFCO Tokyo health insurance provides comprehensive coverage for providing health care compensation for self, children, family spouses, etc.
Care Health Insurance Company Limited: Care health insurance is a new name of Religare health insurance. In the year 2019-2020, it covers 89.59% CSR. The Religare health insurance company was established in 2012 with its headquarters at Gurgaon in Haryana. The care health insurance company private limited is a joint venture between Union Bank Of India and corporation bank. Insurers’ medical insurance has been regarded as one of the best health insurance companies in India.
Max Bupa Health Insurance Company Limited: It covers 88.06% health insurance Claim Settlement Ratio list/ratio in the year 2019-2020. Max Bupa health insurance company limited is having a joint venture between the Indian private equity firm and a UK based healthcare services expert, Bupa.
Apollo Munich Health Insurance Company: It covers 84.06% health insurance Claim Settlement Ratio list/chart in the year 2019-2020. Apollo Munich health insurance is now renamed as HDFC ERGO health insurance. HDFC Limited is one of the leading housing finance companies in India in Mumbai and has its headquarter in Munich health Germany.
HDFC ERGO Health Insurance Company: HDFC ERGO is a well-known and oldest insurance company in India in Mumbai and had its headquarter in Mumbai, Maharashtra. The company has 14 branch offices in India with 108+ cities having 3400 employees in India. And also it covers 82.99% CSR.
Star Health Insurance Company Limited: It established in 2006 and also it is the first standalone health insurance company in India, and it covers 79.34% CSR and has joint collaboration with allied insurance. It specializes in providing health insurance to its customers at a low cost.
National Insurance Company Limited: It is one of India’s oldest insurance company and second-largest non-life insurance company in India that have a viable market presence in the northern and eastern regions of the country. It covers 78.52% health insurance Claim Settlement Ratio list/chart in 2019-2020.
Bharti Axa Life Insurance: The Exa group at Paris brings together the strong financial expertise of the Bharti enterprises. It is a famed life insurance company with a joint venture. The business that operates in more than 18 countries, holds a 51% share of Bharti enterprises in the joint venture and Axa 49% share of the same. It covers 77.78% in the year 2019-2020 CSR.
Reliance General Insurance Company: The non-life insurance company reliance general insurance has launched the COVID-19 protection insurance scheme against corona on Wednesday. 100% of the amount of insurance will be found in one is luminously infected with the coronavirus, which can be up to a maximum of Rs. 2 lakhs. If the person is checked, the plan will receive 50% of the amount of insurance during the period. The policy period of the plan is 1 year old and the waiting period is maintained for 15 days before claiming for the policy. The company has issued the statement and informed it. It covers 75.76% health insurance Claim Settlement Ratio list/ratio in the year 2019-2020.
Documents required for Health insurance claim settlement ratio IRDA, Health insurance claim settlement ratio list, and Health insurance claim settlement ratio chart.
Proof of age: Passport, School or college certificate, Pan card, Driving license, Voter Id card, etc.
Photo identity proof: Adhaar card, Pan Card, Passport, etc.
Proof of address: Electricity bill, Bank A/C statement, Passport, Ration card, Voter Id card, etc.
Proof of income: Salary slip, Employer certificate, etc.
Photo proof: Passport size photo of the policyholder.