* To know how these ratings are calculated,
To find out how these policies were rated on individual parameters,
Updated: 27th Jul, 2015
Products published on the website of insurers or available through the company call-centres have been considered.
Premium includes service tax at 14%.
Information drawn from public sources unless specifically mentioned.
Products as on 15 June 2015.
Where location determines premiums, Delhi has been selected
Where a maternity and a non-maternity option are available, the non-maternity option has been selected. If an option is not available, then the maternity product has been selected.
In the criterion of disease-wise capping, we have only considered capping on non-cataract treatment.
Sub-limit on room type is classified as "No" if a single or higher category room is allowed without any price restrictions.
Co-pay has been marked "Yes" if it is required for all claims, claims in hospitals outside the network hospitals or in claims from select diseases.
Co-pay is considered assuming a person buys the insurance at the age segment being considered.
Where co-pay options are voluntarily available, we have not considered it.
For scoring no-claim bonus, we have considered only sum insured increases and not premium discounts.
For no-claim bonus, we have considered the default options to increase sum assured. Riders that can accelerate sum assured increases at a cost are not considered.
Where insurers have multiple similar products, we have generally selected the higher rated product.
We have considered claim complaints per 10,000 claims registered as on 31 December 2014.
Overall claim complaints considered and not just health insurance specific ones since those are not disclosed publicly.
Oriental Insurance Co. Ltd, National Insurance Co. Ltd, United India Insurance Co. Ltd and New India Assurance Ltd report absolute number of claim complaints. So we have used the absolute claims reported in Q3, 2015, to convert this into the common format of 'per 10,000 claims'.
Claim settled (%) is claims settled/claims decisions taken, i.e. claims settled/(claims settled + claims rejected + claims closed)
Considered for April 2014 to December 2014 unless otherwise mentioned.
Oriental Insurance: Public disclosures for Q2, FY2015 are not available on the website so we have considered data for only two quarters, Q1 and Q3 of FY2015.
HDFC Standard Life Insurance Co. Ltd, Reliance Life Insurance Co. Ltd and India FirstLife: Claims data is taken from these insurers because life insurers do not publicly disclose this information.
Bajaj Allianz General Insurance Co. Ltd has discrepancies in the published claims data. So, company-provided corrections have been factored in.
SBI General Insurance Co. Ltd: Minor corrections made based on company feedback.
Future Generali India Life Insurance Co. Ltd: Company information used because public disclosures do not capture claim repudiation.