Mint Beshak Insurance Rating

Mint Beshak Insurance Ratings: Health Insurance

India's Best Health Insurance Plans, rated in collaboration with Mint - India’s 2nd largest financial daily.

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Note: The higher the rating, the better the plan is. However, in the case of the premium affordability ratings, the higher the rating, the more expensive the plan will be. Ratings are based of 5 stars.

What is Mint Beshak Insurance Ratings?

Let’s just admit, buying health insurance isn’t the easiest or most fun thing to do. It’s super important, but also quite hectic, given the myriad number of products, plan variants, and confusing fine print you have to check.

That's where Mint Beshak Insurance Ratings comes to your rescue! It’s a collaborative effort between Beshak and Mint. Mint approved a unique methodology relevant to their readers. Beshak did the research and number crunching. All this is to provide reliable ratings for leading health insurance plans in India.

How does the Mint Beshak Rating work?

Mint Beshak Insurance Ratings focuses on what truly matters in health insurance, cutting through the clutter and giving you exactly what you need, aka - the best. It simplifies the process of understanding all your options, stacking them up against each other, and quickly finding what’s right for you.

Cracking the Code: How are the Health Insurance Policies rated?

We dive deep into the world of health insurance and meticulously analyse 100+ features, benefits, limitations, T&Cs. And serve you with comprehensive ratings based on 2 critical factors, applying the following weights -

Rating Type Weight

Product Rating 65%

Insurer Claims Track Record Rating 35%

Product Rating

Putting our Sherlock hat on, we scrutinize policy details to the T. We uncover the health insurance plans with the lowest out-of-pocket expenses during hospitalization, so you never have to worry about unexpected bills.

What Goes Behind the Screen?

We take into account the core coverage and condition parameters and rate them (out of 5) using a relative scoring method.
We then apply weights to factor the importance of each sub-parameter.

                          The parameters are chosen carefully, based on how
                          they can impact long-term hospitalization claims for
                          both individuals and families.
                        

Cover/Condition Weight

Inpatient Hospitalization Benefits All medical bills during hospitalisation, including Room Rent, Day Care, Organ Donor, Modern Surgeries, and Domiciliary Treatment covers

40%

Pre & Post Hospitalization Expenses related to hospitalisation incurred before and after you’re hospitalised

10%

No Claim Bonus Reward of extra coverage, given for not making a claim in the previous year

10%

Restoration Benefit Refilling of the sum insured after it’s utilised, based on terms and conditions

10%

Non-Medical Expense Non-medical expenses, otherwise not covered under health insurance

Other Financial Limits Financial Limits besides Room Rent - Copay, Deductible, Surgery Limits, any other limits

Exclusions Temporary exclusions for existing and specific illnesses/treatments, and permanent exclusions set by the IRDAI/insurance company

10%

Policy Wording Simplicity Evaluating the clarity and readability of language used in policy wording

10%

Claims Track Record Rating

We fetch insurers with the smoothest claim settlement process. Because you deserve everything best and hassle-free, including claim experience.

Decoding the Techy Stuff

So basically, we rate the insurance companies by assigning relative scores and weights to parameters that directly measure their customer experience history. These parameters are derived from the public disclosures of insurers of the last quarter and across the last 5 financial years.

Parameter Weight

Claims settled % within 30 Days 70%

No. of complaints for claims (per 10,000 claims) 30%

Premium Affordability Rating

Want to check the cost-benefit aspect? You can do that too!

This rating, however, is decoupled from the overall ratings. We have deliberately separated it from the product ratings, because affordability is subjective and varies from person to person. You can compare the benefits (overall rating) and the price (price rating) based on your personal preferences, and make easy, well-informed decisions.

We evaluate the relative affordability of the health insurance plans by comparing them on a like-to-like basis. And considering standard requirements for the following -

Age Type of Policy Family Construct Cover

30 Years Floater Self + Spouse + 1 Kid Rs. 10 Lakhs

Frequently Asked Questions (FAQs)

01. Why trust Mint Beshak Insurance Ratings?

Beshak is an independent platform, with no conflict of interest, whatsoever. To ensure it has zero conflict, it has ensured it has zero marketing, distribution links or affiliations with any insurers in the market. All the research, insights, and analysis you get are unbiased and research-backed. And, Mint Beshak Insurance Ratings covers the widest range of insurance plans in India, evaluating over 150+ plans. It entails the most extensive research across 100+ parameters, including claims, ensuring the most comprehensive and reliable information for your insurance decisions.

02. Are the ratings influenced by insurance companies or any external parties?

03. How is the Mint Beshak Insurance Rating different?

04. How is Mint Beshak Insurance Rating different from Beshak’s rating on its website.

05. Are the ratings applicable to all health insurance plans in India?

06. How frequently are the ratings updated?

07. Why are the pricing and overall rating decoupled?

08. Can I solely rely on Mint Beshak Insurance Ratings to choose a health insurance plan?

How do I trust this?

Widest research in India across 150+ plans.

Deepest study across 200+ parameters, including claims.

We are fiercely independent. Zero marketing ties with any insurer.

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