Future Generali
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What is Health Insurance?
Health insurance, also called medical insurance, is a plan that helps cover your healthcare costs. When you have health insurance, you enter into an agreement with an insurance company, which promises to help pay for medical expenses if you get injured, face a serious illness, or need treatment for an accident. It’s a way to ease the financial burden of healthcare, so you can focus on getting better without worrying as much about the cost.
To receive the benefits of a health insurance policy, policyholders pay a set amount called a premium. In return, the plan provides a range of coverage options, including expenses related to hospital stays before and after treatment, care at home if needed, coverage for daycare procedures, and even an annual medical check-up. This support can make healthcare more manageable and affordable.
Addons Under Health Insurance
Health insurance riders let you boost your basic coverage by paying a bit more on your premium. Here are some popular riders you might want to explore before choosing a health insurance plan.
Maternity Cover
You can cover the expenses related to maternity, pre & post-natal expenses & newborn child under a maternity add-on rider.
Critical Illness
A lump sum is paid upon diagnosis of a critical illness during the policy term, such as heart disease, kidney failure, or cancer.
Personal Accident
You will receive the total amount if you become completely permanently disabled or partially disabled due to an accident.
Hospital Daily Cash
You will get a daily cash allowance to take care of additional expenses such as food, travel, etc. at the time of hospitalization.
Reduction of Waiting Period
A lump sum is paid upon diagnosis of a critical illness during the policy term, such as heart disease, kidney failure, or cancer.
Room Rent Waiver
This rider allows you to increase the sub-limit for hospital room rents or choose no sub-limit for greater flexibility and comfort.
Top 10 Health Insurance Companies in India 2024
With various health insurance options available, it’s not always easy to choose the best one. RenewBuy has compiled a list of the top 10 insurers in India, based on factors like claim processing, financial strength, and hospital partnerships.
Claim Settlement Ratio-100%
Care Health Insurance
- Started in the year 2012
- In-house Claim Settlement
- 158 branches across PAN India
- Cashless claim approval within 2 hr
Claim Settlement Ratio-100%
Niva Bupa Health Insurance
- Started in the year 2008
- Online Reimbursement Process
- 24x7 Customer Care Assistance
- Cashless claim within 30 mins
Claim Settlement Ratio-99.96%
ManipalCigna Health Insurance
- Started in the year 2014
- 77 branches across India
- 18000+ OPD cashless network
- 8,500+ Network Hospitals
Claim Settlement Ratio-99.21%
Star Health
- Started in the year 2006
- In-house Claim Settlement
- 640 branch offices across PAN India
- No Copay
Claim Settlement Ratio-99.01%
Aditya Birla
- 2.5 Cr lives insured
- Offers Wellness Coaching
- Offers Chronic Management Prog.
- More than 99% of claims settled
Claim Settlement Ratio-98.75%
Reliance General Insurance
- 24x7 Customer support
- 10,000+ Network Hospitals
- More than 3 Cr policy holders
- Paperless and cashless claims
Claim Settlement Ratio-98.59%
HDFC Ergo
- In-house claim settlement
- Free renewal health checkup
- 640+ branches across PAN India
- Cashless claim approval in 20 mins
Claim Settlement Ratio-98.54%
Zuno Health Insurance
- Started in the year 2017
- 24x7 Customer Support
- 10,000+ Network Hospitals
- Easy cashless claims process
Claim Settlement Ratio-98.53%
ICICI Lombard Health Insurance
- Started in the year 2001
- 24x7 Customer Care Support
- Rewards for every claim-free year
- 270+ branches across the country
Claim Settlement Ratio-97.68%
Acko Health Insurance
- Started in the year 2016
- 14,300+ network hospitals
- Fastest claim settled in 12 min
- Mobile app to manage the policy
How to choose the Best Health Insurance Companies in India?
To choose the best health insurance company in India from the 28 available options, consider the following factors and match them with your personal needs and preferences:
Network Hospitals
Benefit from a wide hospital network with our cost-effective plans, offering comprehensive coverage and financial security without compromising on quality. 
Online Services
Take advantage of our extensive online services with affordable plans, offering comprehensive coverage and convenience without breaking your budget. 
Wider Coverage at Low Premiums
Discover our affordable insurance plans that provide extensive coverage and robust protection, tailored to your needs for peace of mind and financial security. 
Customer Care Support
Enjoy reliable customer care with our affordable plans, ensuring comprehensive assistance and convenience within your budget. 
Wider Coverage at Low Premiums
Explore our cost-effective insurance plans with extensive coverage and affordable premiums, offering robust protection tailored to your needs for peace of mind & financial security.
Network Hospitals
Access a broad hospital network with our cost-effective plans, offering comprehensive coverage & financial security without compromising quality.
Customer Care Support
Get reliable customer care with our affordable plans, providing comprehensive assistance and convenience within your budget.
Online Services
Experience extensive online services with our affordable plans, offering comprehensive coverage and convenience without exceeding your budget.Ensure Health Insurance that delivers.
Below are the benefits of choosing the best health insurance from the best health insurer in India:
Ensure Health Insurance that delivers.
Wide Range of Health Plans
Choose from a variety of health plans designed to fit your needs and budget, ensuring complete coverage and peace of mind.
Quick Grievance Redressal
Experience quick grievance resolution processes that prioritize your concerns, ensuring efficient solutions and high customer satisfaction.
Easy Claim Settlement Process
Enjoy a hassle-free claim settlement process designed for simplicity and speed, ensuring quick reimbursements and minimal paperwork.
Ensure Health Insurance that delivers.
Flexible Payment Option
Take advantage of flexible premium payment options that align with your financial planning, making it easier to manage your health insurance costs.
Renewal Benefit Option
Enjoy renewal benefits that reward your loyalty with improved coverage or discounts, ensuring ongoing protection and added value.
Profitability Option
Health insurance portability allows you to maintain your coverage benefits when switching providers, ensuring continuous care without losing protection.
Benefits that are covered after the Waiting Period
Below mentioned are few of the benefits that are covered after the waiting period
What is not covered under Health Insurance plans?
The following situations and conditions are not covered under Health Insurance Plans:
What is not covered under Health Insurance plans?
Self-Inflicted Injury
No coverage for injuries caused by self-harm or suicide attempts.
Dental Treatment
Excludes routine dental procedures unless medically necessary for trauma.
Obesity Treatment
Weight loss treatments or surgeries are not covered under policy.
Abuse of Drugs & Alcohol
No claims for conditions arising from substance abuse or addiction.
Adventure Sports
Injuries from participating in risky sports are excluded from coverage
IVF Treatment
Fertility treatments, including IVF, are not covered by health insurance
Cosmetic Treatment
No coverage for cosmetic or aesthetic surgeries unless medically necessary.
Injuries arise during a War-like situation
War-related injuries, including terrorism, are excluded from insurance claims.
Breach of Law/Criminal activity
No claims for injuries caused during illegal activities or crimes.
Health Insurance companies data comparison in India 2024
There are 28 health insurance companies available in India, and all have unique features. In the table below, RenewBuy has listed all the health insurance companies available in India and their claim settlement ratio, solvency ratio, and network hospitals.
| Insurer | Claim Settlement Ratio (2022-23)  | Incurred Claim Ratio (2022-23) | Solvency Ratio (2022-23) | Gross Direct Premium (2022-23) | Network Hospitals |
|---|---|---|---|---|---|
| Acko General Insurance | 97.68% | 83.88% | 4.26% | 736 | 14,300+ |
| Bajaj Allianz General Insurance | 93.54% | 74.27% | 3.68% | 3372.78 | 18,400+ |
| Cholamandalam MS General Insurance | 93.63% | 67.88% | 2.07% | 893.28 | 11,000+ |
| Future Generali India Insurance | 94.98% | 79.18% | 1.86% | 879.61 | 8,430+ |
| Go Digit General Insurance | 96.83% | 71.87% | 1.96% | 933.33 | 16,400+ |
View more 
Not sure which plan fits?
Here’s how to compare health insurers and find your perfect fit in today’s market.
Evaluate Coverage Options
Compare health plans to find comprehensive coverage for hospitalization, consultations, diagnostics, medication, & maternity benefits.Review Policy Benefits
Review policies for cashless hospitalization, no-claim bonuses, wellness programs, and pre-existing condition coverage for the best option.Compare Premiums & Deductibles
Compare premiums, deductibles, and costs to find a health plan that balances affordability and comprehensive coverage.Consider Network of Hospitals
Ensure your preferred hospitals are in each insurer's network for easy cashless access and comprehensive coverage.Valuable Customer Reviews
Check reviews for service quality, claims, and satisfaction, and choose a company with a strong reputation and positive feedback.Some myths about Health Insurance
Health insurance is often misunderstood, creating confusion about coverage. Debunking these myths is crucial for informed healthcare decisions.
01 Myth: "I'm young and healthy, so I don't need health insurance."
A common myth is that young, healthy individuals don’t need health insurance. However, accidents and unexpected illnesses can occur at any time. Health insurance offers financial protection for emergencies and covers preventive care, helping maintain good health and identify issues early.02 Myth: "Health insurance is too expensive, so I can't afford it."
Health insurance premiums can be high, but being uninsured can lead to overwhelming costs. Government subsidies may help make coverage more affordable, so explore your options. Don’t overlook the financial protection insurance provides in emergencies.03 Myth: Myth: “All health insurance plans are the same, so any choice is fine”
Health insurance plans differ greatly in coverage, costs, and benefits. Thoroughly review & compare options based on factors like network hospitals, prescription coverage, deductibles, and copays. Understanding these differences helps you choose the best plan for your healthcare needs & budget.04 Myth: "Health insurance covers all medical expenses."
Individuals with pre-existing conditions may face challenges in obtaining health insurance or higher premiums. However, IRDAI prohibits insurers from denying coverage or charging more based on these conditions, ensuring access to affordable health insurance. View more
How to reduce Health Insurance Premiums?
Reducing health insurance premiums can improve your financial health. Though strategies vary by location and insurer, here are some general tips to lower premiums:
Compare Health Plans
Compare plans from various insurers for the best coverage at the lowest premium. Use online tools or RenewBuy for help.Choose a Higher Deductible
The deductible is what you pay before insurance starts. Higher deductibles lower premiums. Choose based on your health and finances.Access Preventive Care
Many plans offer free preventive services like vaccinations & checkups, helping to identify health issues early & lower future treatment costs.
Assess your Coverage Needs
Assess your healthcare needs and select a suitable health plan. If you seldom visit the doctor, basic coverage may be more cost-effective.Maintain a Healthy Lifestyle
A healthy lifestyle lowers chronic condition risks. Insurers often offer discounts for exercise, non-smoking, and healthy weight.Review Your Plan Annually
Review your health insurance plan regularly, as offers and prices can change yearly. Compare during open enrollment to find better options.Key factors impacting Health Insurance Premiums
Below mentioned are the factors that can affect your health insurance premium amount:
Key factors impacting Health Insurance Premiums
Age
Older individuals typically incur higher premiums due to increased health risks over time.
Gender
Premium rates may differ based on gender-specific health risk factors and statistics.
Medical History
Pre-existing conditions often lead to significanty higher premium costs for applicants.
Sum Insured Amount
Choosing a higher sum insured generally results in increased premium costs overall.
Policy Term
Longer policy terms often lead to lower monthly premium payments for insured individuals.
Type of Health Plan
Comprehensive health plans usually have higher premiums due to broader coverage options
Additional Riders
Adding riders to a policy increases the overall premium and enhances coverage options.
Lifestyle of the Applicant
Unhealthy lifestyle choices, such as smoking, can increase insurance premium amounts significantly.
Cashless Hospitals Near You
Reliance General
Magma HDI General Insurance
Liberty
Care Health
Digit
SBI General
HDFC Ergo
ManipalCigna
Bajaj Allianz
Kotak Health
Aditya Birla
Key Health Insurance Jargons You Should Know
Understanding key health insurance jargons is essential for navigating coverage options effectively.
Key Health Insurance Jargons You Should Know
Premium
The amount you pay your insurance company for coverage. It is usually paid every month.
Restoration Benefit
Restoration benefit refills your sum insured amount if it gets exhausted in a single policy year.
AYUSH Treatment
It is a type of treatment related to Ayurveda, Yoga and naturopathy, Unani, Siddha & Homoeopathy.
Network Hospitals
The group of healthcare providers, hospitals, & facilities that have a contract with your health insurance company to provide cashless treatment.
Copayment (Copay)
A fixed amount you pay for a specific healthcare service, such as a doctor's visit or prescription medication. For ex:, you might have a copay of $20 for each doctor's visit.
Add-on Riders
Add-on riders or additional riders are the benefits that you can add to your health plan to enhance the coverage benefits by paying some additional premium amount.
Domiciliary Treatment:
It is a type of treatment in which policyholders can receive treatment at home if they cannot reach the hospital or find medical facilities for a specific treatment under the supervision of a medical professional.
Deductible
The amount you must pay out of pocket before your insurance coverage starts. For example, if your deductible is INR 1K, you must pay the first INR 1K of covered expenses before your insurance begins to pay.
Preauthorization
The process of obtaining approval from your insurance company before receiving certain medical services or procedures. This is typically required for expensive or non-emergency procedures to ensure they are medically necessary.
Free Look Period
This is a period in which you can cancel or change your health insurance company without paying any penalty. Generally, it lasts for 15 days from the date of the policy.
Pre-existing condition
A health condition or illness you had before buying a health insurance plan.
Navigate smarter: Check out our helpful links
Frequently Asked Question (FAQ’s)
What is health insurance?
What is a health insurance premium?
What happens if I fail to pay the premium on time?
Do health insurance plans cover mental health treatment?
Does smoking affect health insurance premiums?
Does health insurance purchase qualify for tax benefits?
What is the maximum number of claims allowed under health insurance in a year?