Top 20 Medical Insurance Companies in India 2024

This article, showcases the top 20 medical bima companies in India for the year 2024, providing valuable insights into their offerings and benefits.


In today’s fast-paced world, the saying “Health is wealth” holds more truth than ever. Medical emergencies, often unexpected, not only take a toll on our well-being but can also lead to significant financial burdens. This is where medical insurance plays a crucial role, offering a safety net for your health without compromising your financial stability. In India, where medical debts are a leading cause of poverty, having a health insurance policy is not just a choice but a necessity. In this article, we will explore the top 20 medical bima companies in India for the year 2024, providing valuable insights into their offerings and benefits.

Insurance Health

Why Health Insurance Matters?


Medical emergencies, whether due to sudden illnesses like COVID-19 or accidents, can quickly deplete one’s savings and lead to financial distress. A health insurance policy acts as a shield, covering pre and post-hospitalization expenses and reducing the financial burden on individuals. Some policies even offer ‘Cashless’ benefits, ensuring that quality treatment is accessible without additional costs. This article aims to guide you through the top health insurance providers in India, helping you make an informed decision to safeguard your health and financial well-being.

1. Bajaj Allianz Health Insurance

Overview: A strategic alliance between Bajaj Finserv Limited and Allianz SE, Bajaj Allianz Health Insurance is a top player in the medical insurance sector. With a 98% health claim settlement ratio, it issued over 5 lakh medical policies during the 2021 lockdown, showcasing its reliability and efficiency.

Highlighted Policies:

  • Bajaj Allianz Healthguard Insurance Policy
  • Bajaj Allianz Premium Personal Guard Policy
  • Bajaj Allianz’s Critical Illness Health Insurance Policy

2. Aditya Birla Health Insurance

Overview: Aditya Birla Health Insurance stands out with its customized health policies covering generic and specific ailments. Notably, it offers policies like Corona Kavach and Cancer Secure, demonstrating a proactive approach to evolving health needs.

 Highlighted Policies:

  • Active Assure Diamond
  • Corona Kavach (Comprehensive COVID-19 Coverage)
  • Cancer Secure

3. Bharati Axa Health Insurance

Overview: Bharati Axa Health Insurance, a joint venture between Bharat Enterprises and AXA Group, holds a strong position in health insurance. Winning several awards, including those for customer service excellence, it offers innovative healthcare policies with add-on benefits like coverage for critical health issues.

Highlighted Policies:

  • Smart Health Assure Health Insurance Plan
  • Smart Super Health Insurance Plan
  • Bharti AXA Arogya Sanjeevani Health Insurance Plan

4. Care Health Insurance Company

Overview: Formerly Religare Insurance, Care Health Insurance Company is known for retail health insurance, personal accident, and critical illness coverage. With a 95% claim settlement ratio, it offers benefits like 2-hour cashless claim processing and all-inclusive policies.

Highlighted Policies:

  • Care Health Care Health Insurance Plan
  • Care Health Joy Health Insurance Plan
  • Care Health Care Senior Health Insurance Plan

5. IFFCO Tokio Health Insurance

Overview: IFFCO Tokio, with a pan-Indian presence and a network of 20,000 agents, emphasizes tailor-made health insurance. Offering 100% reimbursement of the full eligible claim and inclusion of pre-existing illnesses within 3 years, it stands out with customer-centric policies.

Highlighted Policies:

  • Family Health Protector Policy
  • Individual Health Protector Policy
  • SwasthyaKavach Policy

6. Oriental Health Insurance

Overview: Oriental Health Insurance, a Delhi-based public sector company since 1947, provides a wide range of medical insurance policies. With benefits like regular discounts on premiums, daily cash allowance, and insurer portability, it caters to diverse medical needs.

Highlighted Policies:

  • Oriental Individual Mediclaim Plan
  • Oriental Happy Family Floater Plan
  • Jan Arogya Plan

7. SBI Health Insurance

Overview: SBI Health Insurance, a strategic alliance between State Bank of India and IAG, offers diverse medical policies at affordable premiums. With an exclusion of medical screening up to 45 years, it provides options ranging from INR 50,000 to 5 Lakhs in coverage.

Highlighted Policies:

  • SBI Arogya Premier Policy
  • SBI Hospital Daily Cash Insurance Policy
  • SBI Group Health Insurance Policy

8. Reliance Health Insurance

Overview: Reliance Health Insurance, with over 139 branches and 28,900+ intermediaries, is a leading medical insurer. Providing comprehensive plans at affordable premiums, it offers unique benefits like a 5% special discount for women or girl child and a 33.33% bonus at the end of a claim-free year.

Highlighted Policies:

  • Reliance HealthGain Insurance Policy
  • Reliance Health Infinity Insurance
  • Reliance Arogya Sanjeevani

9. New India Assurance Company Limited

Overview: New India Assurance Company Limited, a public sector company, is among the oldest insurers in India. With a robust presence, it provides comprehensive health insurance policies with a focus on affordability and wide-ranging coverage.

Highlighted Policies:

  • New India Premier Mediclaim Policy
  • New India Floater Mediclaim Policy
  • New India Asha Kiran Policy

10. United India Insurance Company Limited

Overview: United India Insurance Company Limited, another stalwart in the public sector, has been a reliable insurer for decades. Offering health insurance with features like cashless hospitalization and extensive coverage, it caters to diverse customer needs.

Highlighted Policies:

  • United India Family Medicare Policy
  • United India Individual Mediclaim Policy
  • United India Top-up Medicare Policy
Also Read: Prepared for Your Next Journey? Discover the Importance of Travel Insurance

11. ManipalCigna Health Insurance

Overview: ManipalCigna Health Insurance is a renowned name in the health insurance landscape. Providing a variety of plans with an emphasis on customer well-being, it offers features like lifelong renewability and comprehensive coverage.

Highlighted Policies:

  • ManipalCigna ProHealth Protect Policy
  • ManipalCigna Lifestyle Protection – Critical Care Plan
  • ManipalCigna Super Top-up Plan

12. Kotak Mahindra General Insurance Company

Overview: Kotak Mahindra General Insurance Company is a prominent player offering a range of insurance products. With a focus on health insurance, it provides policies that cater to different medical needs, ensuring financial security during medical emergencies.

Highlighted Policies:

  • Kotak Mahindra Health Premier
  • Kotak Mahindra Dengue Care
  • Kotak Mahindra Corona Kavach Policy

13. Religare Health Insurance (Now Care Health Insurance)

Overview: Religare Health Insurance, now rebranded as Care Health Insurance, continues to be a significant player. With a commitment to customer-centric health policies, it ensures a wide range of benefits and coverage options.

Highlighted Policies:

  • Care Health Care Freedom
  • Care Health Care Heart
  • Care Health Secure

14. Edelweiss Health Insurance

Overview: Edelweiss Health Insurance, with a claim settlement ratio of 85.57%, is a major player in India’s health insurance landscape. It provides three coverage tiers, Silver, Gold, and Platinum, with an additional benefit called ‘Health 241,’ allowing the second year free if the first year is claim-free.

Highlighted Policies:

  • Edelweiss Health Insurance Silver
  • Edelweiss Health Insurance Gold  
  • Edelweiss Health Insurance Platinum

15. TATA AIG Health Insurance

Overview: TATA AIG Health Insurance, a joint venture of the TATA Group and American International Group, is a game-changer in the insurance business. Offering simplified health insurance policies with coverage for unique benefits like bariatric surgery, global cover, and dental treatments during accidents.

Highlighted Policies:

  • TATA AIG Medicare
  • TATA AIG Medicare Plus
  • TATA AIG Critical Illness Policy

16. National Insurance Company Limited

Overview: National Insurance Company Limited, one of the oldest insurance companies in India, boasts an extensive network. With benefits like free health check-ups, policy transfer options, and coverage for alternate medicines, it addresses the emerging medical needs of individuals.

Highlighted Policies:

  • National Mediclaim Policy
  • National Senior Citizen Mediclaim Policy
  • Corona Kavach Policy – National

17. HDFC Life Insurance

Overview: HDFC Life Insurance stands out for providing a life cover till 99 years, a rare offering in India. With policies tailored for women, senior citizens, and children, HDFC Life ensures a comprehensive approach to different health needs.

Highlighted Policies:

  • HDFC Life Easy Health
  • Click 2 Protect Corona Kavach
  • Click 2 Protect Health

18. Star Health & Allied Insurance Co. Ltd

Overview: Star Health and Allied Insurance Co. Ltd, launched in 2006, offers affordable and extensive health care plans. With specific plans like ‘Red Carpet’ for senior citizens, it provides free health check-ups for all insured members, emphasizing preventive healthcare.

Highlighted Policies:

  • Star Novel Coronavirus (nCov) (COVID-19) Insurance
  • Corona Kavach Policy
  • Young Star Insurance Policy

19. ICICI Lombard Health Insurance

Overview: ICICI Lombard, an award-winning health insurance provider, offers comprehensive health plans covering critical illnesses. With a remarkable 99.87% claim settlement ratio, it provides a wide range of add-on plans for additional benefits.

Highlighted Policies:

  • ICICI Lombard Complete Health Insurance
  • ICICI Lombard Health Booster
  • Arogya Sanjeevani Policy

20. MAX Bupa Health Insurance Company Ltd

Overview: Max Bupa Health Insurance, a joint venture between “True North” and Bupa, focuses on customer-centric health policies. With a network of 4500+ hospitals, it offers special benefits like cashless claim settlement in 30 minutes, 24X7 online assistance, and a 5-minute renewal process.

Highlighted Policies:

  • Max Bupa Health Companion Health Insurance Plan
  • Max Bupa Health Premia Health Insurance Plan
  • Max Bupa GoActive Health Insurance Plan


The article is intended purely for informational purposes. Policy names, details, and CSR percentages are subject to change annually. Readers are advised to verify information from official websites or trusted agents before signing up for a policy. The article authors and publishers are not responsible for any losses incurred due to reliance on the information provided.


Related articles