Star Health vs. Reliance Health Insurance Company

Star Health Vs. Reliance Health Insurance

With the development of medical technology, healthcare costs are rising quickly. Any unanticipated medical emergency puts your current cash flow and savings at risk, which can hurt your financial obligations. A great way to safeguard your family and yourself from unexpected medical costs is through health insurance.

Many health insurance are now offered to suit each person’s unique needs as a result of increased competition in the health insurance market. Buying health insurance pays the policyholder’s medical costs while offering the highest level of protection against, among other things, critical illness, surgery, and daycare. When it comes to medical emergencies, Star Health Insurance and Reliance Health Insurance come in handy.

If you are still in a dilemma about what health insurance to choose, let’s discuss the differences between Star Health Insurance and Reliance Health Insurance.

About Star Health Insurance Company

In 2006, Star Health and Allied Insurance Co. Ltd. was established as a joint venture with Allied Insurance. With reasonable premiums, Star Health Insurance covers hospitalisation costs, doctor visits, serious illnesses, Ayurvedic treatment, etc. are all covered by the insurance policies. 

Star Health Insurance has network hospitals of more than 14,000, where insured members can receive care without paying for it. With a vast network of more than 850 branches, it has a presence all over India. Star Health Insurance’s good claim settlement ratio supports its excellent customer service.

About Reliance Health Insurance Provider

Reliance General Insurance company offers health insurance that can provide a safety net in case of any unforeseen health issues. With Reliance Health Insurance, your health and wellness are taken care of, which also allows you to take advantage of Section 80D tax savings. The best feature of Health Insurance by Reliance is that you can pay for four convenient instalments while still receiving all of its wonderful benefits. With coverage up to Rs. 5 crore, more than 9,100 cashless hospitals and a 98.76% claim settlement ratio, Reliance Health Insurance stands out. With 131 offices and more than 90,000 intermediaries across India, the policyholder utilise its services whenever it is most convenient for them.

Principal Benefits and Features of Star Health Insurance

The following are the features and benefits of buying Insurance from Star Health. 

Financial Security: 

In the event of a challenging healthcare situation, investing in Star Health Insurance ensures that your financial obligations are minimised. Receiving medical care for some health emergencies can have a significant negative impact on your financial stability. We are more vulnerable to serious diseases and illnesses as a result of changing lifestyles. It may be challenging to raise money in such circumstances, which is when health insurance coverage is useful. Your insurance from Star Health will let you pay for things like ambulance fees, domiciliary expenses, hospitalisation costs, and more.

Quality Treatment:

Health insurance from Star that offers cashless hospitalisation in Network Hospitals throughout several Indian cities is available to all of your family members. You can receive care at the hospital of your choice.

Rising Medical Expenses:

Everything is becoming more expensive in today’s world, including healthcare. The average cost of healthcare has steadily increased, making some treatments unaffordable for the average person. All family members can receive the best care without having to forfeit their savings thanks to Star Health Insurance.

Tax Exemption:

Under Section 80D of the Income Tax Act of 1961, the insured may receive a tax break on the premiums paid for Star Health Insurance. Additionally, if you purchase Star Health insurance for both you and your family, you can combine your deductions to qualify for yearly tax breaks.

Benefits of Free Health Checkups:

Star Health Insurance offers free annual physicals to its customers. This enables people to monitor their health and make necessary improvements.

Network Hospitals:

A cashless hospitalisation and reimbursement facility is available to policyholders with Star Health Insurance through partnerships with more than 14,000 hospitals nationwide.

Ambulance Costs:

During medical emergencies, the person’s transportation costs to the hospital must be covered, just like the hospitalisation cover. It implies that having medical insurance that pays for ambulance expenses is essential.

Covers Pre-existing Diseases:

Pre-existing conditions are generally covered by Star Health Insurance. Pre-existing diseases are any illnesses or medical conditions that the policyholder already had before choosing the health insurance from Star. 

Diagnosis Facilities:

With Star Health Insurance, the policyholder has access to 1,635 diagnostic facilities throughout India, with home lab sample pickup and door-to-door health checks.

AYUSH Cover: 

Health Insurance by Star also cover treatments from alternative medical systems like Ayurveda, Yoga and naturopathy, Unani, Siddha, and Homoeopathy in addition to allopathic ones.

Day Care Treatment:

Surgery and treatment times that once required a lot of time have been shortened thanks to technological advancements. Therefore, Day Care procedures and treatments are covered by Star Health insurance policies.

Organ Donor Expenses:

Organ donor costs are typically covered Under Star Health Insurance. If the insured individual is the recipient, all costs associated with organ procurement and transplantation are covered.

No Third-Party Administration (TPA):

To process claims more quickly and settle them in the shortest amount of time during the most critical hour, Star Health Insurance relies not on the TPA but rather on an internal claim team.

Key Features and Benefits of Reliance Health Insurance

Listed below are the key features and benefits of considering Reliance Health Insurance.

Claim Settlement Ratio:

Reliance Health Insurance has a claim settlement ratio is 98.76%. By guaranteeing that their claims will be paid, this ratio also provides policyholders with peace of mind. It’s important to keep in mind that the claim settlement ratio changes over time.

Tax Benefit:

One of the main advantages of Reliance Health Insurance is that the premiums paid can be deducted from the taxable income tax-free. According to Section 80D, individuals are permitted to deduct up to Rs. 25,000 and senior citizens are permitted to deduct up to Rs. 30,000.

A Wide Range of Add-Ons:

Reliance Health Insurance offers a variety of add-on options, allowing customers to tailor their coverage to their unique requirements and preferences.

24/7 Customer Support Team:

Regardless of the time of day or night, a committed and knowledgeable customer support team is available at all times to answer questions about claims, assist with purchases and renewals, and address any other possible problems.

Online Renewal:

Say goodbye to traffic jams and waiting in lines. Reliance Health Insurance offers hassle-free renewals without your physical presence via the official website. 

Customer Service via Video Chat:

From Monday through Saturday, from 9:30 a.m. to 6:30 p.m., experts are accessible via video chat to assist policyholders. It improves communication between the insurer team and its customers.

Affordable:

Reliance Health Insurance offers affordable premium rates that still offer comprehensive coverage for all medical conditions.

Comparison Between Star Health and Reliance Health Insurance

Listed below are the differences between the two that can help make your decision. Let’s understand the differences between both health insurance.

Parameters Star Health Insurance Reliance Health Insurance
Sum Insured Star Health Insurance offers coverage of up to Rs. 2 crores.Reliance Health Insurance, on the other hand, has a sum insured of up to Rs. 5 crores.
Claim Settlement Ratio/Incurred Claim RatioAs per the IRDAI reports, the claim settlement ratio of Star Health Insurance is 87.06% (2021-22).Reliance Health Insurance has a claim settlement ratio of 98.76% (2021-22).
Network Hospitals The major highlight of Star Health Insurance is that it has 14, 000+ network hospitals across India.When it comes to counting the network hospitals of Reliance, it has 9,100+ dedicated network hospitals.
Branches One of the appealing things about Star Health Insurance is that it has over 850 branches across India.On the contrary, Reliance Health Insurance has over 131 branches across India.
No. of AgentsStar Health Insurance has more than 6.4 lakh agents working for them across the country.Reliance Health Insurance has 90,000+ intermediaries across India.
No. of Health PlansStar Health Insurance offers 23 health insurance plans.There are 14 health insurance plans covered under the Reliance Health Insurance.
Types of PlansStar Health Insurance offers individual and family floater options to customers.Reliance Health Insurance, on the flip side, offers individual and family plans, allowing customers to choose the right type of insurance option as per their needs.
Awards & Recognition

Talking about recent awards and recognition, Star Health Insurance has won many awards:

  • Digital Innovation of the Year (Health Insurance)
  • The Best of Bharat Awards 2022
  • Most Innovative New Product of the Year
  • Best BFSI Brands 2019
  • Best Health Insurance Provider of the Year
  • Health Insurance Provider of the Year.
  • Money Today Financial Awards 2017-18
  • Health Insurance Company of the Year 2017 – Finteleket Insurance Awards 2017

When it comes to winning Awards, Reliance has made its way and accomplished so many recognitions. Here are a few of them;

  • World Leadership Congress and Awards, 2021
  • India’s Most Trusted Brand Awards, 2021
  • ET Best Brands 2021
  • The Video Media Awards & Summit, 2021
  • Kyoorius Creative Awards 2021
  • MCube Awards 2021
  • 4th Insurance Alerts Conclave & Excellence Awards, 2021
  • The Business Leadership Awards 2021
  • The Indian Content Leadership Awards 2021
  • Digital Dragon Awards 2021
Mobile App Star Health has a dedicated mobile app, i.e., “Star Health App” that allows you to choose, buy, and cancel health insurance whenever you want.Reliance Health Insurance has its own app, i.e., “Reliance Self-i”, which is specifically designed for customers to manage their health insurance.
Tax Benefits Yes, Star Health Insurance offers tax benefits so that customers can take full advantage of them to save their taxes.Reliance Health Insurance offers tax benefits of up to ₹1,00,000 under Section 80D of the Income Tax Act, 1961
Pre-and Post Hospitalisation The Star Health Insurance covers pre and post-hospitalisation expenses.Does Reliance Health Insurance cover pre and post-hospitalisation expenses? Well, yes, it does.
In-house Claim SettlementStar Health Insurance settles claims on all 365 days by a dedicated team of qualified doctors.Reliance Health Insurance, on the other hand, also has an in-house claim settlement facility all year around.

Which is Superior: Reliance Health Insurance or Star Health Insurance?

Determining which is better, Star Health Insurance or Reliance Health Insurance depends on your specific needs and preferences. If you are looking for a robust number of network hospitals across the country along with hundreds of branches, then Star Health Insurance will be an ideal choice for you. On the other hand, if you want a reputed name and a good claim settlement ratio, then choosing Reliance Health Insurance will never disappoint you!

To determine which is better for you, it’s important to compare quotes, read documents carefully, and consider your unique requirements. You may also want to consult with an insurance advisor or broker who can provide personalized recommendations based on your situation. Ultimately, the “better” choice depends on your specific needs, priorities, and circumstances.

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