The world without a worry !
So, you can focus on your studies, and you'll only bring back happy memories
They say, travelling makes you a storyteller. We ensure your employees only have happy stories to share. Give them the comfort of Group Explore our Travel Insurance on their next work-trip both International or Domestic.
With CHI as your insurer, its truly Health ki Guarantee!
Freedom to get Health Insurance without worrying about your current health status
Get enhanced coverage for greater protection
A perfect blend of hospitalization & maternity insurance
Along with Maternity & Newborn coverage, Joy offers you a number of thoughtfully designed features & Services that give you several advantages at most critical of time. Two plans available- Joy Today and Joy tomorrow.
A Comprehensive Health Insurance plan that not only covers heart ailments but offers much more
* At the discretion of Underwriting. **Up to 25% of Sum Insured.
A Comprehensive Health Insurance plan for Life’s golden years.
*At the discretion of underwriter.
^Tax Benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time.
For tax related queries, contact your independent tax advisor. As per section 80D of Income Tax Act, an Adult (aged between 18 & 60 years) can save tax on a premium of upto Rs. 25,000 and his/her senior citizen parent/s (aged 60 years & above) can save tax on a premium of upto Rs.50,000.
**For 5 consecutive claims free years by using No Claim Bonus & No Claim Bonus Super (Optional Cover ).
Incremental increase every year is applicable on base Sum Insured. If a claim is made in any particular year accrued NCB or NCB super will be reduced at same rate at which it is accrued.
In line with our objective of ensuring good health…hamesha! Our Comprehensive Health Insurance Plan – Group Care; helps safeguard the most important asset for you i.e. your employees / Customer, against financial risks arising out of a medical emergency.
A comprehensive Health Insurance that covers all major types of Cancers on a lifelong basis and offers affordable EMIs.
Health Insurance cover specifically designed to cover 16 major Heart ailments that comes with option to pay in Easy EMIs
Unlike most other plans this plan offers lifelong coverage for 32 critical illnesses
Health Insurance that covers expenses related to defined Surgical procedures
Truly Comprehensive Personal Accident cover with broad range of features, add-on benefits, hassle free procedures & thoughtful services
Journey of life is not smooth and some things cannot be predicted for such as an unfortunate accident. That’s why your employees/customers need Group Secure – Personal Accident Insurance so that life’s big or small surprises never pull you down.
Please visit Self Help Portal for changing your contact details such as Address, Email ID and Mobile number as well as for placing request online for Policy documents and tracking your Request status.
Managing your Care Health Insurance policy is now App Solutely Simple with our all new mobile app. Available on both Google Play Store & iOS. To download – click on Icon
To Make a request please Click here
To Find our branch please Click here
Managing your Care Health Insurance policy is now App Solutely Simple with our all new mobile app. Available on both Google Play Store & iOS. To download
Kindly leave your Contact No. & we will call back soon
Importance of Claim Settlement Ratio while Buying Health Insurance
92.3%
Claim Settlement Ratio (OND 2018)
8350+ +
Network Hospitals across 500 cities
400 Lacs+
Lives covered
Health insurance claim settlement ratio (CSR) is a metric used to rate health insurance companies. It is the ratio of the number of claims settled by the health insurance company in a year to the total number of claims made. It helps buyers to compare health insurance companies and select the best health insurance policy based on the ratio. The higher health insurance claim settlement ratio guarantees higher chances of getting an easy settlement on your claims. Thus, it is advisable to ensure that your insurer has a good claim settlement ratio before opting for a health insurance policy.
The standardization of health insurance claim settlement was done by IRDAI(Insurance Regulatory and Development Authority of India). It publishes the claim settlement ratios annually in the first month of every year. The health insurance claim ratio is often the most important factor taken into consideration by individuals when they look for a health insurance plan. A higher claim ratio assures the higher possibility of hassle-free claim settlement. Else, your purpose of investing in health insurance plans will defeat if your claims are denied or delayed. Hence, you need to ensure that you should opt for a company like us with a higher claim settlement ratio.
The claim settlement ratio refers to the total number of claims settled by the health insurance company. For instance, if an insurer has an 80% health insurance claim settlement ratio, it has settled 80 out of 100 claims.
Claim Settlement Ratio = (Total Claims Settled)/(Total Reported Claims + Outstanding Claims at the beginning of Year - Outstanding Claims at the End of Year)
Consider an example where a health insurance company receives 1000 claims. Out of these, it has paid 973 claims. Of the remaining 27, it has rejected 16 and is yet to decide on 11 claims. The claim settlement ratio, in this case, would be 973/1000 = 97.3%.
The health insurance claim settlement ratio is always calculated as a percentage and has no units since it has two numbers.
Rank |
Insurer |
Claim Settlement Ratio |
Claims Available |
||
March 31, 2019 |
March 31, 2018 |
September 30, 2016 |
March 31, 2019 |
||
1 |
Care Health Insurance |
92.3% |
89.69% |
85.15% |
7,00,596 |
2 |
Manipal Cigna |
89.43% |
84.91% |
81.68% |
1,53,782 |
3 |
Apollo Munich |
84.10% |
84.08% |
78.43% |
3,45,967 |
4 |
Max Bupa |
83.92% |
88.06% |
72.74% |
94,174 |
5 |
Star Health |
78.15.% |
79.34% |
60.94% |
8,15,584 |
6 |
Aditya Birla Health |
72.80% |
85.34% |
- |
62,306 |
Source: IBAI Claims Handbook |
Here's what Moneycontrol Says:
When it comes to health insurance, Care Health Insurance has a 92.3% claim settlement ratio. The health insurer handled 7,00,596 claims in the financial year and settled almost 92.3 percent of them.
For the health industry as a whole, the claims settlement ratio stood at 85.18 percent for the year ended March 31, 2019. This rose from 80.77 percent in the year-ago period.
Medical insurance claim settlement ratio allows a person to understand the history of the insurer, and how well it can handle claims. It can act as an important factor deciding factor. If two products from different health insurance companies have similar benefits, but one of them has a 90% health insurance claim settlement ratio while the other has just 60%, then a customer is more likely to choose the former.
However, one must keep in mind that the health insurance claim settlement ratio is not a perfect indicator of how good an insurance company is. Consistency of the insurance claim settlement ratio over the years must also be taken into consideration. A consistent claim settlement ratio like we have indicated our reliability, which is often the most important factor while choosing a health insurance company.
>> Check: What is No Claim Bonus
Here are the steps to avail of a cashless health insurance claim:
A cashless insurance claim settlement is a facility where the health insurance company itself settles the medical bill with the hospital. You are spared the burden of paying the bills and waiting for reimbursement. The cashless health insurance claim facility is available only at network hospitals having a tie-up with the health insurance company. A cashless insurance claim settlement also saves the hassle of submitting all the relevant medical bills along with the discharge summary.
The claim process for cashless treatments is as illustrated below:
Reimbursement claim settlements will generally require you to pay all hospital expenses and collect all related medical bills ranging from ambulance cost to treatment cost. You also need a legitimate discharge certificate and a discharge summary from the hospital before claiming your insurance. Our claim management team will carefully examine your submitted bills and hospital certificates before granting you a reimbursement.
The health insurance claim process for reimbursement settlements is as follows:
When you are investing in a health insurance policy, that means you are looking for protection and financial security against future medical emergencies. That is why it's advisable to understand the claim settlement ratio and opt for the health covers from the company with a higher claim settlement ratio. Read below why it is so important?
Assures Great Value Products
The ideal health insurance claim settlement ratio lies between 80-90 %. Companies with a claim settlement ratio between 80 and 90% have great value for healthcare products and good to go for investment. They offer a wide range of health insurance products with maximum coverage and a quick settlement claim process. Therefore, it's advisable to opt for the companies with a higher claim settlement ratio to benefit from a health insurance claim.
Reflects Efficiency
You should also check the average claim settlement time by the health insurance companies. It should be a period between 20-30 days. This time frame reflects that the health insurance company is good at settling the claim efficiently. You should go to a company like us that offers you the claim settlement within a short period.
Show Reliability
New insurers generally have lower claim settlement metrics than already existing companies. So it's better to check its claim history before you buy a health insurance plan. You can ask about the number of claims settled so far, unsettled claims, and claims that are on hold. Thus, with the insurance claim settlement ratio, you can cross-check your health insurance provider's creditworthiness.
Indicate Sound Financial Health
A good settlement report shows that the health insurance company has sound financial health, profits, offers qualitative health insurance plans, and meets customers' expectations. It is trustworthy to invest your hard-earned money and protect your future.
Whenever choosing a health insurance company, it’s always recommended to do a thorough search on its claim settlement ratio. It gives you an idea about its financial history and reliability. You can check the comprehensive health insurance plans offered by Care Health Insurance (Formerly Religare Health Insurance), the best health insurance company in claim settlement. Our CSR is 92.3% that ensures hassle-free claim settlement to our customers.
You can get the claim forms and a list of documents for submission by visiting Care Health Insurance's official website. The forms are available under the 'Claims' section on the website.
Policyholders are required to submit relevant documents when claiming as it helps the company to assess and process the claims of customers in a quick and hassle-free manner.
In case of emergency hospitalization, the insured person must inform the company within 24 hours of admission. If it is a planned hospitalization, the insured person should notify the insurer 48 hours before the admission.
A policyholder can request an unlimited number of claims depending upon the scope of coverage and limit of sum insured.
If it is a cashless claim, we settle your bills at the time of discharge from the hospital. If it is reimbursement, you have to submit the required documents within 15 days from the discharge. We will process the claim after approval.
Walk-in to the nearest Axis Bank branch to pay your Renewal Premium conveniently via Cheque/Demand Draft. Please ensure to keep the following in mind while opting for the same:
Please visit during banking hours and ask for ‘Easy Pay’ service counters at Axis Bank branch to deposit your premium.
Please mention your Policy(s)number and Contact number on the reverse of cheque. Instrument should be in favour of "Religare Health Insurance Company Limited"
Make sure to collect the acknowledgement slip before leaving bank’s service counter for any future correspondence.
Postdated/ Outstation/ Third Party cheques are not allowed.
Please ensure the cheque amount is equal to the amount mentioned in renewal invite.
It is advisable to carry a copy of Renewal invite while visiting to Axis Bank branch.
Please ensure to deposit the cheque at least 7 Days prior to the due date. Instrument deposition is not allowed after the policy expiry date.
In case of any modifications in the policy details at the time of renewal, please contact our
branch and do not deposit the cheque in Axis Bank Branch.
Contact respective ‘Axis Bank branch manager’ in case of any difficulty/issue/clarification related to deposition of renewal premium. You may further contact our Customer Service team at 1800-102-4488/1800-102-6655
Add family members to be insured
Terms & Conditions of Premium Quote Generation
"Care Health Insurance Ltd (formerly known as Religare Health Insurance Company Limited) & associate partners may contact you to assist you with website navigation of www.careinsurance.com and assist in proposal filling."