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With numerous products, plan options, and all the complicated fine print, comparing and choosing health insurance can be quite a daunting task. To simplify and empower quicker decision-making, Mint in association with Beshak.org, an unbiased insurance discovery platform presents Mint Beshak Insurance Ratings. This rating zooms into the most essential aspects of insurance plans blurring out the frills to present a refreshed version 2.0 of our erstwhile Mediclaim rating.

Top 15 health plans for you
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Top 15 health plans for you

Detailed methodology: Here’s a detailed note on the methodology followed for rating insurance plans.

1. Overall Rating

Mint Beshak Insurance Rating - Health Insurance is a blended measure of product and claims experience track record of insurance companies.

In the health insurance rating, we basically measure the product promises (in form of product benefits) and the delivery track record (in form of claims track record) of each health insurance plan offered online by insurance companies.

The final Mint Health insurance rating of a plan is done after applying the following weights:

Type of rating
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Type of rating

1.1 Product Rating: Under Product Rating, the following core cover and condition parameters under health insurance are scored (out of five) by a relative scoring method, post which the following weights are applied to factor the importance of each of these subparameters.

Parameters are selected based on the core impact they are likely to make on actual hospitalization claims in the long run for individuals and families.

Product Rating
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Product Rating

1.2 Claims Track Record Rating: Under Claims Track Record Rating, insurers are rated on the relative scoring and weights of the following important parameters captured under various public disclosures. These parameters measure the experience insurers have provided in the past to their customer.

Claims Track Record Rating
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Claims Track Record Rating

2. Premium Affordability Rating: Premium affordability is an important independent measure for customers to do an objective cost-benefit analysis before customers make a final choice on the product. An independent affordability rating helps compare the value offered by a product (through product and experience) against the pricing.

Based on our research, the median age of customers buying health insurance is 30 years.

We measure the relative affordability of the plans on a like-to-like basis for the following standard requirements.

Age: 30 Years

Type of Policy: Floater

Family Construct: Self + Spouse + 1 Kid

Cover: Rs. 10 Lakhs

Mint knowledge partner 
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Mint knowledge partner 


The following points must be noted when you are reading the above rating and methodology:

For calculating the ratings, we have aggregated data from the products brochures, policy wordings, prospectus on respective insurance company's website

The claims data is as on 31st March 2022, the latest available on the IRDAI website at the time of the study.

The rating has been calculated based on product benefits, conditions available as on 30th June 2022. Any modifications on the product after 30th June 2022 have not been included. These will be considered in the coming financial quarter.

The study has used relative scoring (values across each parameter are relatively compared across insurers and converted into a relative score) to rate various subparameters.

The cumulative score for a parameter has been calculated using weighted average of all sub parameters. The weights used are based on the impact of the specific sub-parameter on the risk being covered.

IRDAI had made it mandatory for every insurance company to offer Modern Treatment benefits. In case any insurance company has not mentioned specifically that they cover this and they have not defined any sub-limits for every treatment, we have considered that all modern treatment procedures are covered without any sub-limits.

Premium Affordability:

Premium is not a part of overall Product Ratings. It has been decoupled from the rating of products, as we find affordability very subjective and personal. Readers can compare the benefits (overall rating) and the price (price rating) based on their personal preferences to take informed actions.

Premiums compared are standard annual premiums for a Rs. 10 Lakh cover for a family of 2 adults (30-year-old) and one child (1 year old), living in Mumbai.

Premiums are taken as on 31st July 2022.

Premium affordability rating has been calculated by relative comparison of each product to the median average premium of the products under study.

Premiums affordability rating is indicative. Some products may have benefits beyond the scope of the rating methodology and hence be rated expensive as compared to other plans.

Product Selection:

26 Insurance Companies, 37 products, and 56 plan variants that are actively distributed online by the insurance company or aggregators were selected for the study.

Plans that offered 10 Lakhs floater sum insured were considered.

We have not included the product offered by Navi Insurance because, at the time of our study, we found inconsistencies in what they are offering on their application vs what they are offering in their product's prospectus and policy wording

We have not included the product offered by Acko Insurance because they offer a fixed sum insured of 1 Crore and we have rated all the plans on the basis of 10 Lakhs sum insured

While we have rated all plan variants provided by the insurance company, for simplicity, we have displayed only the top-rated plan variant under a product in the above rating.


Our goal with Mint Beshak Insurance Ratings is to empower you to find the best plans available in the market from 100s of plans and variants. We hope this was helpful. We will keep updating this rating every quarter based on fresh product information and disclosure data available.

Log of changes -

Based on feedback received from various stakeholders, here are some changes we have made since release in the last quarter:

1. We have revised the sorting of products for ratings from one decimal place in the previous rating to two decimal places.

2. Premium calculations now include additional premiums for optional riders.

Reasons for the movement of ratings -

We have updated the claims data. The data is as of 31st March 2022, the latest available at time of this study. In the last published rating, the data was till 31st December 2022.

We have updated the product information (benefits, conditions, and limits) wherever product changes were made. The product data is as on 30th June 2022. In the last published rating, the data was till 31st March 2022.

We have included new products and plan options in the ratings launched up to 30th June 2022.

We have also incorporated certain product inputs, clarifications received from insurance companies.

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