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Choice is Yours - Medical Insurance

Choice is yours!!!
There are several types of medical insurance policies available in the market. An individual requiring the medical insurance can choose a specific policy based on his need and risk profile. These policies are governed according to the IRDA (Insurance Regulatory and Development Authority) guidelines.

SENIOR CITIZEN POLICY
Senior citizens have senior citizen policies in all insurance companies with specific terms and conditions stipulated for them. It’s always better to take policy when we are young because renewal polices have lesser restrictions and it can be carried till any age. It is not easy for senior citizens to take policy for the first time as they have to undergo investigations and pay higher premium. Any senior citizen resident in India and aged between 60 and 80 can take this policy.  If renewed without a break, the cover can be continued up to age specified in each policy. Proposers must undergo a prescribed pre-acceptance health check at their own cost to identify pre-existing diseases. The health check is waived if the proposer is already having Mediclaim insurance in continuity with the insurance Company.

This policy covers:       

• Hospitalization expenses incurred for the treatment of illness/injury.      
• Pre- and post-hospitalization expenses up to 30 and 60 days respectively. 
• Ambulance Charges.  
• Limited cover for hospitalizations in government and registered Ayurvedic/Homeopathic/Unani hospitals. 

FAMILY FLOATER POLICY
The better option for family members is family floater policy as the insured amount can be used by any one of the policy holder in the group. The family floater policy can include a person and spouse and children. The premium will be calculated as per the age of the eldest person in the group. This insurance is available to persons between the age of 18 years to 60 years. The persons beyond 60 years can continue their insurance provided they are insured under Mediclaim policy with our Company without any break.
1.      FLOATER BENEFIT means the Sum Insured as specified for the proposer under the policy, is available for any or all the members of his /her family for one or more claims during the tenure of the policy.
2.      The Family Floater Mediclaim Policy can be issued to the persons up to 60 years of age covering the following family members:

o    Self
o    Spouse
o    Dependent children? Maximum two

3.      Parents/Parents-in law/ brothers and sisters are not covered under Family Floater Mediclaim Policy even if they are residing with the proposer.
4.      Special Features of the Policy

• Loyalty Discount.
• Good Health Discount.·         
• Income Tax Benefit under Section 80D of IT Act.

DEFINITION OF FAMILY:·        

• Self (Primary Insured).·         
• Legal Spouse.·         
• Dependent Children (i.e. legitimate or legally adopted children) upto the age of 21 years. If the child above 18 years is employed or if the girl child is married, he or she shall cease to be covered under the policy and no claim shall be admissible .However male child can be covered upto the age of 26 years if he is a bonafide regular student and fully dependent on primary insured. Female child can be covered until she is unmarried.·         

Dependent parents /parents-in-law.The policy reimburses reasonable, customary and necessary expenses of Hospitalisation and / or Domiciliary Hospitalisation expenses as detailed below only for illness / diseases contracted or injury sustained by the Insured Persons during the policy period upto the limit of Sum Insured. It’s always better to take policy when we are young because renewal polices have lesser restrictions and it can be carried till any age.

GROUP POLICY
When employers take medical insurance for their employees it is called as corporate or group insurance policy. This policy will be tailor made as per the specific requirement of the group. There are several types of medical insurance policies  available in the market. An individual requiring the medical insurance can choose a specific policy based on his need and risk profile.

Salient Features of the policy.
The Group Mediclaim Policy will be available to any Group/Association/ Institution/ Corporate Body of more than specified number of person/families provided it has a central administration point. Each insured should cover all eligible members (insured Persons) under one group policy only. In other words different categories of eligible members shall not be allowed to be covered under different group policies. It is not permissible to issue any un-named group policies.The group policy will be issued in accordance with IRDA guidelines, in the name of the Group/ Association / Institution / Corporate Body (called insured) with a schedule of names of the members including his/her eligible family members as per the following definition.Cash Less Facility: This facility is available in the Network Hospitals through the appointed TPAs (Third party administrator) of the company. 

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