The Mediclaim policy from The New India Assurance Company Limited
Mediclaim Policy covers
The policy provides for reimbursement of hospitalization/ domiciliary hospitalization expenses for illness/diseases suffered or accidental injuries sustained during the policy period.
Age limit for Mediclaim Policy
The insurance is available to persons between age of 5 and 80 years. Children between the age of 3 months and 5 years can be covered provided one or both parents are covered concurrently.
Overseas Mediclaim Policy covers
The policy covers Personal Accident, Medical expenses and Repatriation, Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport and Personal Liability.
Group Mediclaim Policy
It is available to any homogeneous group/association/ institution/corporate body provided it has a central administration and subject to minimum of 100 persons to be covered.
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Health Guard Insurance from Bajaj Alliance
Their special features are :-
- Cashless Facility : With Health Guard, the member has access to the cashless facility at various hospitals across India (Subject to exclusion and conditions)
- The member can opt for hospitals besides the empanelled ones, in which case the expenses incurred by him shall be reimbursed within 14 working days from submission of all the document.
- Pre and post - hospitalisation expenses : Covers relevant medical expenses incurred 60 days prior to and 90 days after hospitalisation.
- Cumulative bonus of 5 % to your sum assured for every claims free year.
- Family discount of 10 % is applicable.
- Covers ambulance charges in an emergency subject to limit of 1000 Rs.
- Health Check up for maximum amount of Rs. 1000 at the end of continuous four claim free year.
- Income tax benefit on the premium paid as per section 80-D of the income Tax Act.
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Group Mediclaim policy from ICICI Lombard
Policy covers reimbursement of hospitalization expenses incurred for diseases contracted or injuries sustained in India.
Pre – hospitalization: Medical expenses upto 30 days
Post – hospitalization: Medical expenses upto 60 days
Group Discount
Policy can be given to Corporate Body, Institution, Association and slab wise group discount is admissible on standard premium if the group size exceeds 100. Larger the group size higher is the discount. Favourable claims experience is recognized by discount and conversely, unfavourable claims experience attracts loading on renewal premium.
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More topics to browse through :-
The Mediclaim policy provides for reimbursement of hospitalisation/ domiciliary hospitalisation expenses for illness/diseases suffered or accidental injuries sustained during the policy period.
The insurance is available to persons between age of 5 and 80 years. Children between the age of 3 months and 5 years can be covered provided one or both parents are covered concurrently.
The policy is available only for allopathy, ayurvedic and unani systems of medicine. Other alternative systems of medicine are not eligible for claims.
The Mediclaim protection is available for illness/disease contracted anywhere in the world provided the treatment is availed in India.
Mediclaim policy by United India Insurance Company Limited
The cover includes
Expenses incurred by the insured for hospitalisation for illness / diseases or injury sustained (domiciliary hospitalisation also payable as per policy). These include Hospital charges ( Room, Boarding & Operation theatre ) fees for surgeon, Anaesthetist Nursing, specialist etc., diagnostic tests, cost of medicines, blood, oxygen etc., cost of appliances like pacemaker, artificial limbs etc.
Other Benefits
Domiciliary hospitalisation benefits can be excluded under group mediclaim policy and a premium discount can be availed
Exemption under income tax (80D of Income Tax Act) for Premium paid by cheque
A discount of 10% of total premium for coverage of family under a single policy.
The policy pays
- Actual hospitalisation expenses of various types listed above subject to a
- maximum of Rs. 15,000/- to Rs. 5,00,000/- depending upon the sum insured chosen at the inception of the policy ( sum insured is maximum liability under the policy.)
- Actual domiciliary hospitalisation expenses limited to Rs. 3,000/- to Rs. 50,000/- depending on the sum insured chosen at inception.
- Cost of health check up reimbursable at the end of 4 continuously claim free underwriting years limited to 1% of Average sum insured of 4 claim free years
- The sum insured will be increased by 5 % cumulative bonus for every claim free year. If there is a claim in a policy with cumulative bonus 10% of the sum insured will be reduced from the earned bonus.
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Lets have at the Total Health Cover and Mediclaim plans
Do you have a health cover or a mediclaim policy? In a country like India where 1.2 million people die or injure themselves in accidents, why are people not aware of health plans. Even if you are fortunate enough to have a basic medical cover, either through your employer or you have taken one on your own, have you analyzed whether the cover is enough.
Mediclaim works on the fact of actual reimbursement of hospitalization costs and medical costs and it still leaves a gap in the total health protection need. this gap has to filled and can be done by the total health protection insurance plans. They promise a lump sum payment on the diagnosis or the occurrence of illness not taking into account the actual cost. The holder of the policy will be paid the pre approved amount as per the contract.
The Medicliam will reimburse the actual hospitalization charges where as the lump sum health insurance policies will take care of the hospitalization expenses as well as the other household expenses for the duration in which the affected person is not able to work.
The introduction of critical illness care policies by some companies has set a new trend in the industry. So now there are policies that offer insurance solely for diseases or surgeries such as cancer, heart attack, stroke, bypass surgery, kidney failure or any organ transplant. these policies also give large sum assured covers to individuals going up to 20 lakhs or more.
Tax Benefits
To encourage people to opt for health insurance the government offers tax benefits on health insurance policies up to Rs 10,000 under section 80D of the income tax Act, irrespective of the Income of the tax payer. this tax benefit can be availed for the new policies that have been approved for the 80D benefit.
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