Are you one of those persons who believe that government health insurance companies are more trustworthy than other private companies? If you are, then you are not alone in following this thought process. The reason, there is a very slim possibility of the government health insurance company closing down or your claim getting rejected on an unreasonable is also very narrow.
The Government of India owns 4 General Insurance Companies offering a host of health insurance plans that best suits your health insurance requirements.
Here is the list of Government Health Insurance Companies and Health Insurance Plans offered by them:
National Insurance Company Limited
It was incorporated in Kolkata on 5th December 1906. It is India's oldest general insurance company. It began its operations as a subsidiary of General Insurance Corporation of India. 21 foreign and 11 Indian companies were merged by the Government of India to form National Insurance Company Limited after the General Insurance Business Nationalisation Act 1972 came into force.
| Headquarter | Kolkata |
| Offices | 1730 |
| Employees | 13000+ |
| Agents | 50000+ |
| International Presence | Yes |
| Incurred Claim Ratio - Health (2018-19) | 107.64% |
| Cashless Hospitals | 5500+ |
Disclaimer: The above information has been sourced from the official website of the company and IRDAI Annual Report. (Last Updated on 16-10-2020)
Here are some of the health insurance plans offered by National Insurance Company Ltd:
| Health Insurance Plan | Entry Age | Sum Insured | Cashless Treatment | Pre and Post Hospitalization | Ambulance Charges |
|---|---|---|---|---|---|
| Corona Kavach Policy | 18 to 65 years | Rs. 50,000/- to Rs. 5, 00,000/- | Yes | 15 days and 30 days | Yes |
| National Mediclaim Plus Policy (Individual Plan) | 18 to 65 years | Rs. 2,00, 000 to Rs. 50, 00,000/- | Yes | 30 days and 60 days | Yes |
| National Insurance Varistha Mediclaim | 60 to 80 years | Rs. 1,00,000 to Rs. 10,00,000 | Yes | 30 days and 60 days | Yes |
| National Parivar Mediclaim Policy Plus (Floater Policy) | 18 to 65 years | Rs. 6,00,000 to Rs. 50, 00,000/- | Yes | 30 days and 60 days | Yes |
| National Critical Illness Policy | 18 to 65 years | Rs. 1,00,000 to Rs. 75,00,000/- | NA | NA | NA |
Disclaimer: The above information has been sourced from the official website of the company (Last Updated on 16-10-2020)
Sir Dorabji Tata founded New India Assurance on 23rd July 1919. New India Assurance Company was nationalized in 1973.
Today, it has grown into a Multinational General Insurance Company. It is the only direct insurer rated A-(Excellent) by AM BEST Company since 2007. It has also been rated AAA/Stable by CRISIL since 2014.
Key Statistics
| Headquarter | Mumbai |
| Global business Turnover | Rs. 29715+ crores in March 2020 |
| Offices | 2395 as on 31st December 2019 |
| Employees | 16795 as on 31st December 2019 |
| International Presence | Yes |
| Incurred Claim Ratio - Health (2018-19) | 103.74% |
| Cashless Hospitals | 1200+ |
Disclaimer: The above information has been sourced from the official website of the company and IRDAI Annual Report. (Last Updated on 16-10-2020)
| Health Insurance Plans | Entry Age | Sum Insured | Cashless Treatment | Pre and Post Hospitalization | Ambulance Charges |
|---|---|---|---|---|---|
| Corona Kavach Policy | Day 1 to 65 years | Rs. 50,000/- to Rs. 5, 00,000/- | No | 15 days and 30 days | Yes |
| New India Mediclaim Policy | 18 to 65 years | Rs. 1,00,000/- to Rs. 15, 00,000/- | Yes | 30 days and 60 days | Yes |
| Senior Citizen Mediclaim Policy | 60 years to 80 years | Rs. 1,00,000/- or Rs. 1,50,000/- | Yes | 30 days and 60 days | Yes |
| New India Family Floater Mediclaim Policy | 18 to 60 years | Rs. 2,00,000/- or Rs. 5,00,000/- | Yes | 30 days and 60 days | Yes |
| New India Cancer Guard Policy | 3 Months to 65 Years | Rs. 5, 10, 15, 25 & 50 Lakhs | Yes | No | Yes |
Disclaimer: The above information has been sourced from the official website of the company (Last Updated on 16-10-2020)
This merger was done after the General Insurance Business Nationalisation Act 1972 came into force.
Key Statistics
| Headquarter | Chennai |
| Offices | 2279 |
| Employees | 14000 |
| Customer Base | 1.74 Crore |
| International Presence | Yes |
| Incurred Claim Ratio - Health (2018-19) | 110.51% |
| Cashless Hospitals | 8000+ |
Disclaimer: The above information has been sourced from the official website of the company and IRDAI Annual Report. (Last Updated on 16-10-2020)
| Health Insurance Plans | Entry Age | Sum Insured | Cashless Treatment | Pre and Post Hospitalization | Ambulance Charges |
|---|---|---|---|---|---|
| Corona Kavach Policy | 18 to 65 years | Rs. 50,000/- to Rs. 5, 00,000/- | Yes | 15 days and 30 days | Yes |
| Individual Health Insurance Policy | 18 to 65 years | Rs. 2,00,000 to Rs. 20, 00,000/- | Yes | 30 days and 60 days | Yes |
| Arogya Sanjeevani Policy | 18 to 65 years | Rs. 1,00,000 to Rs. 5,00,000 | Yes | 30 days and 60 days | Yes |
| Revised Family | 18 to 65 years | Rs. 2,00,000 to Rs. 25, 00,000/- | Yes | 30 days and 60 days | Yes |
| UNI Criticare | 18 to 65 years | Rs.1, 3, 5 and 10 lacs | NA | NA | NA |
Disclaimer: The above information has been sourced from the official website of the company (Last Updated on 16-10-2020)
It was incorporated in Mumbai on 12th September 1947. From 1956 to 1973, it was a subsidiary of Life Insurance Corporation of India, i.e., till the General Insurance Business Nationalisation Act, 1972 came into force. All shares of the company held by the General Insurance Corporation of India were transferred to the Central Government in 2003.
It started the business with a small premium amount of Rs. 99,946 in 1950, it has grown to Rs.13,199 crores for the year ending 2018-19.
Key Statistics
| Headquarter | New Delhi |
| Offices | 1830+ |
| Employees | 13500 |
| Gross Premium (2018-2019) | Rs.13,199 crores |
| International Presence | Yes |
| Incurred Claim Ratio - Health (2018-19) | 108.80% |
| Cashless Hospitals | 4300+ |
Disclaimer: The above information has been sourced from the official website of the company and IRDAI Annual Report. (Last Updated on 16-10-2020)
Here are some of the health insurance plans offered by Oriental Insurance Company Ltd:
| Health Insurance Plans | Entry Age | Sum Insured | Cashless Treatment | Pre and Post Hospitalization | Ambulance Charges |
|---|---|---|---|---|---|
| Corona Kavach Policy | Day 1 to 65 years | Rs. 50,000/- to Rs. 5, 00,000/- | Yes | 15 days and 30 days | Yes |
| Mediclaim Policy | 18 to 65 years | Rs. 1,00,000 to Rs. 10, 00,000/- | Yes | 30 days and 60 days | Yes |
| Happy Family Floater Policy | 18 to 65 years | Rs. 2,00,000 to Rs. 20,00,000 | Yes | 30 days and 60 days | Yes |
| Health of Privileged Elders | 60 years | Rs. 1,00,000 to Rs. 5,00,000/- | Yes | 30 days and 60 days | Yes |
| Arogya Sanjeevani Policy | 18 to 65 years | Rs. 1,00,000 to Rs. 5,00,000/- | Yes | 30 days and 60 days | Yes |
Disclaimer: The above information has been sourced from the official website of the company (Last Updated on 16-10-2020)
Government health insurance companies are no longer lagging behind private insurance companies; in fact, government health insurance companies have pioneered various first of its kind products in the Indian insurance market. They are also giving private insurers a run for their money in terms of customer service and other policy servicing fronts.
If you wish to buy a health insurance plan for yourself or your entire family, you can visit Coverfox. Here, you can instantly compare various health insurance plans from government health insurance companies and private health insurance companies on the same page. Buying a health plan that best fits your needs can be done online with minutes, so what are you waiting for? Let's get started.
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