As much as we take care of our health, medical exigencies are always unpredictable and can happen to anyone. While youngsters are becoming susceptible to critical illnesses, pandemics due to previously unheard of viruses are affecting people at a mass scale. Here’s where health insurance plays a crucial role in providing financial support and helping a person focus on recovery. However, although people do have health insurance, many just buy it to either save tax or opt for a small sum insured thinking they can’t fall ‘that’ ill where the medical costs may go beyond their budget/sum insured opted. Let me tell you, while having a medical insurance
is a must, it’s equally important to be adequately covered considering the medical inflation. But, determining medical costs in advance is becoming highly unpredictable. Solution to this issue is our product - ‘Health Infinity’.
Under traditional health indemnity policy, a person estimates the medical expenses without a proper logic and accordingly opts for the sum insured. Health Infinity is one such policy that offers you unlimited care with unlimited sum insured. It allows a person to choose coverage limit based on per day room rent options which he would opt for in event of an hospital admission which ranges between Rs. 3,000 - Rs. 50,000. Based on the chosen option, a person will be indemnified 100 times of the per day room rent limit, beyond which if the claim amount exceeds, copayment of 15%, 20%, or 25% is applicable as opted by the insured while purchasing policy. It’s important to note that, copayment
is applicable only on the claim amount which exceeds 100 times room rent and not on the total claim amount.
Health Infinity covers in-patient hospitalization treatment without any sublimit and can be bought for a period of 1 year, 2 years or 3 years. The premium of this policy is determined based on per day room rent opted, age of the proposer and the co-payment option availed. This policy also covers pre hospitalization medical expenses of 60 days, post- hospitalization of 90 days, day care procedures as listed in the policy and road ambulance expenses up to Rs. 5,000. Additionally, insured can avail preventive health check up at the end of every 3 consecutive policy years. Also, no pre-policy medical tests are required for up to 45 years of age in case of a clean proposal form.
We have seen a steep rise in ailments like major surgeries, kidney related issues, malignancies are on a rise off late. The cost of such treatment in very high & no sum insured is enough to take care of the expenses, in such scenario Health Infinity
comes to rescue as there is no limit on the claim that can be paid out under this product.
I would recommend people to go for this product, simply because it helps you to not only determine your coverage based on the room rent options, but also covers you adequately with no restrictions of sum insured. Thus, providing you with appropriate financial support when you need the most and allowing you to stay worry-free.
Authored by Gurdeep Singh Batra,
Head - Retail Underwriting,
Bajaj Allianz General Insurance