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What is health insurance?
Health insurance is a type of insurance that pays for medical expenses. It is often included as part of employment benefits. Some plans, called managed care, combine health insurance with services such as wellness visits, case management and health coaching.
10 Best health insurance companies in Bangladesh
Health insurance has gained a lot of popularity lately, and many people are looking for new ways to safeguard their health. That’s why it’s a good idea to find one of the best health insurance providers around and keep your options open. These ten will be worth your time and effort.
1. Jiban Bima Corporation
If you’re looking for a serious and committed insurance provider, then look no further than Jiban Bima Corporation. Jiban Bima offers both group and individual health plans that are tailored to your specific needs. It also offers plans with optional life coverage, which is nice if you need to ensure that your dependents will be taken care of should something happen to you (i.e., hospital bills, funeral costs). With offices all over Dhaka, Jiban Bima makes it easy to buy a plan; if you’re feeling overwhelmed by information overload, stop by one of its offices where friendly representatives can help guide you through your options step-by-step.
2. Popular Life Insurance Co Ltd. Bangladesh
Popular Life Insurance Co Ltd. is a life insurance company operating in Bangladesh. The firm offers individual and group universal life insurance products, endowment policies, and retirement benefits such as pension plans and gratuity plans. Its products are available through its network of agencies, which comprise 10 branches and 3 sub-branches across several regions of the country. Popular Life Insurance Co Ltd. was founded in 2005 and is based in Dhaka, Bangladesh. It has operations in Qatar and India. The company is listed on both Dhaka Stock Exchange Limited (DSE) and Chittagong Stock Exchange Limited (CSE). Through these two exchanges, it trades with an array of foreign investors from more than 20 countries including US, Japan, China etc. Apart from that they have a good credit rating by all major credit rating agencies. Also they have been ranked AA by Fitch Ratings as of March 2015.
3. Delta Life Insurance Co Ltd Bangladesh
Being one of leading life insurance companies of Bangladesh, Delta Life Insurance Co Ltd offers a wide range of plans to help policyholders protect their families and future. The company’s solid reputation and its long history make it a good choice for Bangladeshi citizens. A variety of plans include basic term insurance policies to whole life policies, which are also offered as annuities. Newer plans available include accident/health policies, disability insurance and cancer coverage options. All types of policies offer coverage for up to 70 years old. If you’re just starting out on your career or have specific needs that can be fulfilled by certain types of insurance, Delta is an excellent place to look into.
4. Metlife Insurance Co Ltd Bangladesh
The Metlife Insurance Co Ltd Bangladesh has a long-standing presence in Bangladesh. It is one of the largest private insurance companies. Moreover, it provides asset management, international insurance and reinsurance solutions, as well as life insurance to policyholders across Bangladesh. This insurer has 23 branches and almost 1,100 offices throughout Bangladesh that sell its products and services, ensuring accessibility for clients. The provider serves both corporate customers and individuals from diverse demographics. Metlife Insurance Co Ltd also has two business lines: one for individual protection insurance (life) and another for savings & investment (group). Both areas provide help to clients struggling with these aspects of their financial lives.
5. Meghna Life Insurance Co Ltd Bangladesh
Meghna Life Insurance Company Limited (MLICL) was incorporated on 7 January, 1993 as a public limited company and commenced business on 1 May, 1993. The company is listed in all three stock exchanges of Dhaka, Chittagong and Sylhet. In February 1994 Meghna Life was awarded life insurance license by government of Bangladesh to operate a private non-life insurance business. Today MLICL has an aggregate paid up capital of Tk 1,060 million (1.1 billion). It is rated A by CARE and B++ by Fitch Ratings.
6. Takaful Islami Insurance Ltd Bangladesh
It is an islamic insurance company. It was incorporated in 1990 and has been doing business since 1991. It mainly provides takaful products with takaful protection for individuals, societies, institutions and organizations of all sectors such as industry, agriculture, commerce and service sector etc. Takaful Islami Insurance Ltd is ISO certified from year 2006 by TUV Rheinland(Pvt) Ltd., Dhaka.
7. Golden Life Insurance Limited Bangladesh
Ranked as a top insurance company in terms of service quality, they have over 6 lakh policies under management. The insurance company is headquartered at Dhaka, and has a branch office in Chittagong. They provide various types of life, health and general insurance for families as well as individuals across all age groups. Some of their popular products include: Accidental Death & Total Disablement benefit, Best Doctors Network Benefit and many more.
8. standard chartered life insurance Bangladesh
This company is known as one of highly rated insurance organizations. Standard Chartered has been working since 1997. The company offers policies for life, investment, health and education. It also provides tax planning services to help you get out of a sticky situation. For instance, you can opt for a NIDHI policy to get tax relief on your savings when compared to other options such as a bank fixed deposit or post office saving account. And if you’re planning on buying car or bike, there’s an ICICI Lombard vehicle insurance plan with flexible loan repayment terms that can come in handy when your finances are tight.
Pragati Insurance is a newly formed Insurance Company having Head Office at Dhaka and Branches at Chittagong, Khulna, Rajshahi, Barisal and Sylhet under Pragati General Insurance Co Ltd. With our vast experience & trust of customers Pragati General Insurance is providing insurance to our valued customers from more than 35 years. In last year 2016-17 we earned an outstanding profit of BDT 165 Crore for running Business. We believe that Customer is king thus we put every efforts to deliver Value to our valued customer. Our success lies in satisfaction of customers as well as employees and building long term relationship with them.
Shandhani is a private company based in Dhaka, Bangladesh. It is licensed as an insurance company by Bangladeshi financial regulators and operates in Dhaka, Chittagong, Sylhet and Mymensingh. It was founded by Muhammed Shahidullah on 1 October 2004 (then- Prime Minister of Bangladesh Sheikh Hasina inaugurated its headquarters building on 6 November 2005). It started out with 25 employees working out of rented office space; now it has 2,500 staff members.
How to choose the right health insurance plan?
If you're looking for a new health insurance plan, there are several factors to consider. One of them is coverage—the providers you want and areas you want to be covered. Another is whether or not your current insurance company offers one that meets your needs. Check out these tips on how to choose an effective health insurance plan that's right for you:
Â· Consider cost : Before deciding which plan is right for you, think about what kind of healthcare costs most affect your family budget. Are they more inclined toward preventative care or do they have any major ongoing medical conditions? Knowing what type of coverage will save them money will help point you in the right direction when it comes time to select a new plan. Consult with a professional financial advisor if necessary.
Â· Pick between HMOs or PPOs : You'll often hear about two types of insurance plans: HMOs (health maintenance organizations) and PPOs (preferred provider organizations). These differ in terms of member rights, payment requirements, and reimbursements but both offer comprehensive coverage including preventive care like checkups and screenings as well as extensive hospitalization services. A good rule of thumb is to look at your schedule -- if you go to doctors, clinics, etc., outside normal office hours then you may want a PPO but if all your visits take place during standard business hours then an HMO might make more sense.
How to find cheap health insurance plans?
The process of finding a good insurance company can be confusing, but it doesn’t have to be. Thankfully, it is quite easy to find cheap health insurance plans if you know where to look. There are many online resources that allow you to browse and compare plans that meet your needs and medical history. You can also call an insurance agent or broker and speak with someone who knows all about these types of policies—and most importantly, they'll know which ones will provide you with quality coverage at an affordable price. Read on for some helpful tips that will help you find cheap health insurance plans!
Tips to Choose best Insurance companies
Choosing insurance is hard. You have a thousand options to choose from and it can be difficult to know what’s what. Since you won’t know for sure if you’re buying good or bad coverage, avoid sticker shock by trying to buy insurance after understanding your coverage needs. Insurance isn’t one-size-fits-all, so it makes sense that there isn’t just one best insurance company out there. It all depends on your needs—something you should be able to figure out with a little research! These five tips will help you make smart decisions about your health insurance needs. We made them actionable so you don’t get overwhelmed; we suggest starting at number 1 and working down. Good luck! Choosing insurance is hard. You have a thousand options to choose from and it can be difficult to know what’s what. Since you won’t know for sure if you’re buying good or bad coverage, avoid sticker shock by trying to buy insurance after understanding your coverage needs. Insurance isn’t one-size-fits-all, so it makes sense that there isn’t just one best insurance company out there. It all depends on your needs—something you should be able to figure out with a little research! These five tips will help you make smart decisions about your health insurance needs. We made them actionable so you don’t get overwhelmed; we suggest starting at number 1 and working down.
Frequently asked questions about health insurance
How does health insurance work?
Your health insurance coverage generally kicks in once you’ve met your deductible, a set amount of money that you pay out-of-pocket before your insurer will start to cover some of your costs. For example, say you meet your $2,000 deductible by paying $1,200 out-of-pocket.
What is a deductible?
All insurance plans have a deductible, which is usually denoted by a dollar amount. The deductible represents how much you will need to pay before your health plan starts covering certain costs. For example, if your plan has a $500 deductible and you visit an emergency room for treatment of an injury that costs $1,000, you will pay $500 out-of-pocket before your insurance kicks in to cover any additional expenses.
Do I need to buy individual or family coverage?
Health insurance is a smart investment, and one you can’t afford to skip out on. There are different types of coverage: family health insurance, individual health insurance and employee-sponsored health insurance. Each type comes with its own advantages, so take a few minutes to think about what works for you.
How much does insurance cost?
It depends on what type of plan you get and whether you’re a man or woman. Insurance companies can charge differently for men and women depending on where they live, which is illegal. But it’s not uncommon for insurers to charge more for women than men because they are statistically more likely to make claims. In America, premium costs vary from state to state as well as from insurer to insurer.
Will my health insurance cover everything if I get sick?
While each company has different coverage details, one thing you can expect is to cover a range of services. Most health insurance plans include dental coverage and regular checkups, for example, as well as drugs, surgeries and other medical care. With so many options available, how do you know which health insurance plan will work best for you? While there’s no single right answer to that question—it depends on your individual needs—you can start by looking at our list of top rated insurers.
How do I find an affordable health plan in my area?
First, you need to know what your health plan needs are. Do you have a pre-existing condition? A family? Are you looking for a specific benefit or coverage amount? Make sure that your health plan covers all of your needs before you get started. Next, identify which insurance companies are available in your area.
Final Thought About best insurance companies in Bangladesh
Finding affordable healthcare in a new country can be difficult. The cost of insurance varies greatly between different health insurance providers and it’s important to weigh up all your options before signing on with one company. This site has comprehensive reviews of some popular plans, so you can make an informed decision about which policy is right for you. With so many options, we hope that reading our site helps simplify an otherwise overwhelming process. We would love to help answer any questions you have, so feel free to contact us or leave us a comment!