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Health insurance is an insurance product that provides coverage for expenses in the event of an illness or injury. It can safeguard you from spending your hard-earned money on medical expenses. A health insurance policy can also be viewed as an agreement between you and your insurer. Here, the insurance company covers you financially in case of any medical emergency.
There are several types of health insurance policies in India. Choosing the right policy is necessary so that you can relax when it comes to paying hefty medical bills. Not only do you get covered for the treatment cost with your policy, but you may also get other health insurance benefits such as cashless treatment and quality healthcare at a reputed network hospital.
A hard-hitting truth is that whether a hospitalisation is planned or not, it is unpleasant, and is sure to cost you heavily. So, it is better to have the protection of a health insurance policy, which may help manage your finances and offer you several other health insurance benefits at an affordable premium. You can also check out the various health insurance quotes online to know which one is most suited to your budget.
Here are 5 reasons that will make you understand the importance of having the right health insurance plan:
You can choose a comprehensive health insurance policy to access quality healthcare anywhere across the nation without worrying about medical bills.
Here’s a quick rundown of what you can get after buying health insurance in India:
Disclaimer: The tax benefit is subject to change as per prevalent tax laws.
The need for a health insurance plan is often underestimated until one faces a health scare. Some people may be in the prime of their health and assume that there is no need for a health policy. They may believe that since they are taking good care of their health, they may not require any such layer of financial protection.
On the other hand, some tend to assume that health insurance plans can prove to be quite expensive. Putting their money into something that may not directly add to their healthcare may not seem worthwhile.
Employees of organisations providing group health insurance may also believe that relying on their group health plans may suffice. However, the plan may not be enough in certain situations.
All these assumptions about not needing health insurance are usually rooted in misconceptions about health insurance.
A health emergency can come in any form. For example, someone meeting with an accident or developing an idiopathic (unexplained) health condition may not have anything to do with how well they are taking care of their health.
Furthermore, health plans need not be expensive. There are several health insurance options available. These can be compared online to get an idea of which one suits your budget while offering you the right coverage. One need not put oneself under financial stress to protect their health.
Lastly, even if you are covered by group insurance policies, know that they may tend to offer limited coverage. You often do not have control over the details of these policies, which may mean that any specific requirements that you might have, are not covered. If you were to leave the organisation, you would be left without any coverage.
Hence, if you want to ensure that you have access to the right healthcare when needed, without having to worry about the cost, it is crucial to consider a health insurance plan.
Buying a health insurance cover is important. Yet, there are times when people are reluctant to buy one. Often, people may get confused between the different types of health insurance policies that are available.
When buying a policy, it is important to choose the right health cover that fulfils your needs. There are different types of policies one can browse and then opt for.
A type of coverage is health insurance for individuals, which you can get for yourself or on behalf of one of your family members. So, in case you are looking forward to securing your health, consider choosing an individual insurance plan. You can avail of cashless treatments at over 18,400+ network hospitals* with our insurance plans..
If you opt for Individual Health Insurance, you can enjoy the following features:
Individual health insurance plans can also be opted by families with an individual sum insured option for each family member. With this option, each family member can enjoy peace of mind, knowing that they have a sufficient sum insured amount for themselves.
The family floater policy permits you to include multiple family members within the same insurance plan for a single premium payment. Under this type of policy, the sum insured is shared by all the members covered in the plan, thereby securing the family at a reasonable insurance premium.
If you opt for Family Floater Health Insurance, you can enjoy the following features:
While there are different plans to choose from, let’s understand the key differences between an individual and family floater policy:
Point of Comparison |
Individual Health Insurance Policy |
Family Floater Health Insurance |
Definition |
Health insurance for individuals is meant to cover a single person under a single policy. It can be customised to suit the individual’s needs. |
Under this type of policy, multiple family members can be covered under one plan. The sum insured is shared amongst all family members in one plan. |
Sum Insured |
The sum insured will be separate for each insured member. Families can also opt for individual health insurance, with each family member having a separate sum insured for themselves. |
The entire family gets covered under one sum insured. Hence, the plan is referred to as a floater plan. |
Coverage |
The coverage is designed to meet the needs of a single individual. The health insurance benefits are extended for the insured member alone. |
The coverage is designed to meet the varying needs of different family members. The policy benefit is extended to the primary member and dependent family members (spouse, dependent children & parents), as per their eligibility. |
Premium |
Premium is paid for the coverage extended to the individual covered under the policy. |
A single premium is paid for all members covered under the plan. Hence, it can be an affordable option compared to paying for separate plans for different members. Premium is usually decided according to the age of the eldest member covered under the plan
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Health insurance for senior citizens acts as a shield in case of medical conditions during old age and doesn’t leave older adults in financial distress. If you may be looking for health insurance for your parents over 60 years of age, this type of policy may suit your needs as the entry age for such plans is 46 years.
Some key features of Health Insurance for Senior Citizens:
2 out of 5 cancer patients in India borrow money and sell assets to cover the cost of hospitalisation.
Can such a situation in the country be avoided? While that is a difficult question to answer for a single individual, one could at least take the necessary steps to avoid such a situation.
A critical illness insurance plan is extremely helpful as it offers coverage for high-cost treatments against some life-threatening diseases. The major advantage of a critical illness policy is that the lump-sum benefit becomes payable on being diagnosed with the listed critical illness, without a mandatory requirement of hospitalisation.
Our critical illness plan, Criti Care, protects against 43 life-threatening diseases, including:
Some key features of Critical Illness Insurance:
Critical illness insurance for women is specifically designed to protect against the risk of 8 life-threatening conditions that can adversely affect women. The benefit can be availed in the form of a guaranteed cash sum when diagnosed with a critical illness covered by the plan.
Listed below are the 8 life-threatening illnesses that are covered:
Some additional features of Critical Illness Insurance for Women:
A top-up health policy ensures that even if the base policy’s sum insured gets exhausted, you are still covered. A top-up policy provides an extra or a “Top-Up” cover to the existing insurance policy.
Some key features of Top Up Health Insurance:
You can protect yourself from the expenses of any unforeseen accidents with a personal accident policy. Bodily injury, death, or disability that is caused because of a mishap is covered under this type of plan.
Some key features of Personal Accident Insurance are:
This type of policy can take care of any medical treatment for members of a group. For example, an employer could use this to get health coverage for their employees.
Some key features of Group Health Insurance are:
Health insurance for vector-borne diseases is a one-of-a-kind plan that takes care of the financial setback due to hospitalisation because of vector-borne illnesses. To put it simply, you can leave your worries to us as this policy for families exclusively covers vector-borne diseases such as Dengue, Malaria, Chikungunya, and Zika fever.
Some key features of Health Insurance for Vector-borne Diseases:
Most young people are presumed to be healthy but, as per the WHO, an estimated 2.6 million young people aged 10 to 24 years die each year and a much greater number of young people suffer from illnesses which hinder their ability to grow and develop to their full potential. Nearly two-thirds of premature deaths and one-third of the total disease burden in adults are associated with conditions or behaviours initiated in their youth (e.g., tobacco use, physical inactivity, high-risk sexual behaviours, injury from violence and others).
One of the important benefits of getting an appropriate health cover is that you get to enjoy a certain sense of stability in terms of paying your hospital bills.
Some of the key benefits of getting a health policy include:
You can avail the benefit of cashless health insurance plans at a network as well as a non-network hospital (subject to acceptance of policyholder and hospital). All you need to do for admission to a network hospital is to just show your health ID card along with the required documents. In case of a non-network hospital, mail us at Cashless.Forall@bajajallianz.co.in along with the required documents for claim processing. Your hospital bill settlement will be taken care of smoothly.
For instance, you can opt for the non-medical expense rider if the insured is hospitalised because of an illness or accident during the policy term. The company will pay the insured for reasonable and customary non-medical expenses specified (belts/braces, cold/hot pack, spacer, steam inhaler, etc.). The non-medical expense rider can be availed with sum insured options of Rs 5 lakh and above, chosen under the health indemnity product. It is important to note that you can’t opt for this rider during the middle of the policy period. The rider needs to be continued for all renewals.
Under Section 80D of the Income Tax Act, you can claim a tax deduction of up to ₹ 25,000 per year for the health insurance premium paid for yourself, if your age is less than 60 years, and up to ₹50,000 if you are a senior citizen.
If you have a health insurance policy, then you can get the benefit of daily hospital cash. This means that your insurance company will pay you a certain fixed sum of money daily (up to a limited number of days), which you can use to get reasonable accommodation for your family member/caretaker.
*This feature is available in Individual Health Guard, Family Floater Health Guard and Health Care Supreme.
If you renew your policy without any break and there has been no claim in the preceding year, then your Sum Insured (SI) increases by 5% for the first year and 10% for every successful claim-free policy renewal. This increment in the sum insured is capped at 50%.
This feature is available for all health insurance products.
With a health insurance policy by your side, you can avail the benefit of preventive care. You can regularly undertake health check-ups without having to worry about paying medical bills.
Once you buy your annual policy, you just need to renew it every year before its expiry to get the benefits of health insurance for a long time. You may also enhance it with additional features, based on your needs.
Policies like critical illness health insurance may offer the following defined benefits that you can rely on if you were to make a claim*:
If the person insured by the policy were to be diagnosed with a condition covered by the policy, they may be able to claim a lump sum benefit from the policy. The amount will depend on the policy details and a few other factors. Claims are subject to terms and conditions set forth under health insurance policy.
Under Section 80D of the Income Tax Act, you may be able to claim an exemption for the premium paid towards your policy.**
* Standard T&C Apply
** Tax benefits are subject to change in prevalent tax laws.
Some health insurance misconceptions floating around can keep you from buying a suitable plan, which may then lead to financial stress if you were to face a health emergency. Here are some common myths and the facts behind them that you should be aware of.
Based on your specifications, a plan may seem expensive for you. However, not all plans are expensive. Whether a plan is expensive or not depends on your budget and your needs that a plan fulfils. You may find a plan to be expensive only if the cost involved exceeds your budgetary limits.
There is a variety of health insurance policy options available in the Indian insurance space. You can compare them online or consult an insurance advisor to find the right policy within your budget. It may then be possible that a plan that satisfies your insurance needs seems affordable to you.
Health insurance is seldom a necessity, but it is a way of prioritising health and not letting healthcare emergencies bog you down financially.* The need for medical attention could arise even if you are young and healthy. Thus, having health insurance, irrespective of age and medical history, can prove beneficial in the long run.
* Standard T&C Apply
Group health insurance plans are commonly offered to employees by their organisation. However, the coverage from these plans ceases when you leave the organisation. Healthcare needs may not always come with any preliminary signs or warnings. Therefore, at times, the coverage offered under group policies may not be enough for your needs. Hence, it may be ideal to consider individual or family health plans.
Premium is one of the factors to consider when buying an insurance plan. However, it may not serve your needs to base your purchase decisions on premiums alone. Instead, look at the policy brochure or plan page to understand what a plan has to offer and choose based on what suits you best. It is important to respect your budget while also ensuring that your policy offers you the right features.
With the types of health insurance plans available today, one can be more certain about finding a plan that suits them right. However, knowing which one is right for you and choosing a suitable plan from among the available options can be quite a task.
When looking to buy the right health insurance policy, here are a few factors you can consider that may help you choose.
One of the most important aspects of health insurance is the sum insurance amount. This is the factor that allows you to be more certain about your healthcare costs being met. Choosing a lower coverage may mean that you are paying a lesser premium. However, the sum insured may not suffice when you need it. On the other hand, choosing a premium higher than your requirements or means may put you in financial stress.
The price you pay for your health insurance plan, i.e., the premium, is based on several factors, including the age of the people covered, add-ons chosen, sum insured, and more. Ensure that your premium is buying you the right policy. However, it is also crucial to ensure that the cost of the policy is within your budget. You may use online health insurance premium calculators to get an idea of the premium of the policy you would like to get.
Network providers/hospitals refer to healthcare centres that have tied up with the insurer or the TPA (third-party administrator), for seamless claim settlements. While this facility was earlier limited to a network hospital only, now it can be availed even at a hospital outside the hospital’s network (subject to acceptance). Network hospitals can prove to be helpful when you or a family member covered by the policy requires hospitalisation. When buying a policy, ensure that hospitals accessible to you are on the network.
It refers to the period between the purchase of the policy and the time when some of the policy benefits kick in. It is ideal to opt for plans with a lower waiting period.
When it comes to health insurance, Bajaj Allianz General Insurance is indeed at the forefront of the country with its diverse range of cost-effective plans. We offer you the following features with our health insurance policies:
Cashless network hospitals |
18,400+ across the country |
Cashless Claim Settlement Time |
Within 60 minutes for cashless claims |
Claim Process |
Cashless and reimbursement process
In-house Health Administration Team for faster claims processing |
Cumulative Bonus |
Under the Health Guard plan, if a policy is renewed without break and without any claims in the preceding year, then the sum insured is increased by 50% for the first 2 years. And 10% per annum for the next 5 years. Maximum up to 150% of the sum insured. The cumulative bonus feature can vary for other health insurance products.. |
Health CDC |
Health Claim on Direct Click is an app-based feature that allows policyholders to initiate & track claims easily. The policyholders can make claims for medical expenses up to Rs 20,000 |
Sum Insured |
Multiple sum insured options |
The table below shows all of Bajaj Allianz General Insurance Company’s online medical insurance plans, highlighting their key features and important aspects:
Plan Type & Suitability |
Plan Name |
Sum Insured |
Key Features |
Things to Note |
Value-Added Benefit |
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Individual & Family Health Insurance (A comprehensive range of benefits and covers for larger expenses related to illness/injury) |
Health Guard (Individual as well as Floater Policy) |
Silver Plan: ₹ 1.5/2 lakh Gold Plan: ₹ 7.5/5/7.5/10/15/20/25/30/35/40/45/50 lakh Platinum Plan: ₹ 5/7.5/10/15/20/25/30/35/40/45/50/75 lakh/1 crores |
Inpatient hospitalisation treatment Pre- &post-hospitalisation Road ambulance Day-care procedures Organ donor expenses Convalescence benefit Daily cash benefit Sum insured reinstatement benefit Preventive health check-up Bariatric surgery cover Ayurvedic/homoeopathic Hospitalisation expenses for gold & platinum plan only Maternity expenses for gold & platinum plan only Newborn baby cover for gold & platinum plan only Super Cumulative bonus for the platinum plan only Recharge benefit for the platinum plan only |
Pre-existing diseases waiting period: 36 months Specific waiting period:24 months Initial waiting period: 30 days Maternity waiting period: 72 months |
Health prime rider Non-medical expense rider Wellness benefits |
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Comprehensive benefits, unlimited sum insured at competitive premiums to take care of medical costs |
Health Infinity (Individual Policy) |
No limit on the sum insured |
In-patient hospitalisation treatment Pre- & post- hospitalisation Road ambulance Day-care procedures Preventive health check-up |
Initial waiting period: 30 days Pre-existing diseases: 36 months Specific waiting period: 24 months The payouts are indemnity payment basis |
Co-payment opted by you will be triggered once the payable claim amount exceeds 100 times the room rent limit opted The co-payment would apply on the claim amount exceeding 100 times the room rent limit and not on the complete claim |
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Arogya Sanjeevani Policy (A plan that protects you from the financial burden during hospitalisation) |
Arogya Sanjeevani (Individual & Floater Policy) |
Hospitalisation: ₹ 1 lakh to ₹ 25 lakh AYUSH treatment: ₹ 1 lakh to ₹ 25 lakh Cataract treatment covered up to 25% of the sum insured or ₹ 40,000, whichever is lower, for each eye Modern treatment method: 50% of hospitalisation sum insured |
Hospitalisation expenses Pre- & post-hospitalisation expenses Day-care procedure AYUSH coverage Expenses on cataract treatment Ambulance charges |
Initial waiting period: 30 days Pre-existing disease: 48 months Specific waiting period:24/48 months 5% co-pay for all claims |
Cumulative bonus |
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Critical Illness Insurance (A benefit policy that covers life-threatening illnesses. Lumpsum amount to be paid on diagnosis of listed critical illness) |
Critical Illness |
For the age group 06 years to 60 years: ₹ 1 lakh to ₹ 50 lakh For the age group 61 years to 65 years: ₹ 1 lakh to ₹ 10 lakh |
Covered for critical illnesses such as: First heart attack (Myocardial infarction) Cancer of specified severity Open Chest CABG (Coronary Artery Disease Requiring Surgery) Stroke Resulting in Permanent Symptoms Multiple Sclerosis with Persisting Symptoms Surgery of Aorta Primary Pulmonary Arterial Hypertension Permanent Paralysis of Limbs Kidney failure requiring regular dialysis Major organ transplantation |
Waiting Period: Critical illnesses diagnosed within the first 90 days of the policy commencement |
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Criti Care (Individual basis sum insured) |
For entry age between 18 years to 65 years: ₹ 1 lakh For entry age up to 60 years: ₹ 50 lakh/section Up to ₹ 2Cr per member For entry age between 61 years to 65 years: ₹ 10 lakh/section |
43 critical illnesses covered Lifetime renewal Cancer Care Cardiovascular Care Kidney Care Neuro Care Transplants care Sensory organs care |
Dialysis Care Cancer reconstructive surgery Cardiac nursing Physiotherapy care Sensory care Wellness Discount |
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Personal Accident Insurance (A plan that covers the insured against bodily injury/death/disability due to an accident and offers a high sum insured) |
Global Personal Guard |
₹ 50,000 to ₹ 25 crore |
Children education benefit Hospital confinement allowance Accidental hospitalisation expenses Hospital cash benefit Air ambulance cover Children education benefit Coma cover EMI payment cover Fracture care |
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Top-Up Health Insurance (This policy can be taken as an add-on cover to the existing hospitalisation medical expenses policy)
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Extra Care (Floater Policy) |
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Hospitalisation expenses Pre & post-hospitalisation expenses Ambulance expenses Modern treatment methods & advancements in technologies |
Initial Waiting Period: 30 days Specific waiting period: 48 months Pre-existing diseases: 48 months |
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Extra Care Plus (Floater Policy) |
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In-patient hospitalisation expenses Pre- & post-hospitalisation expenses Day-care treatment Modern treatment methods Maternity expenses Ambulance expenses Organ donor expenses Free medical check-up |
Initial Waiting Period: 30 days Specific waiting period: 12 months Pre-existing diseases: 12 months Maternity waiting period: 12 months |
Optional air ambulance cover |
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A one-stop solution for the common vector-borne illnesses |
M-Care (Individual as well as Floater Policy) |
₹ 25000 ₹ 50000 ₹ 75000 |
Lumpsum benefit for: Dengue fever Malaria Filariasis Kala Azar Chikungunya Japanese Encephalitis Zika Virus |
Any of the listed vector-borne diseases diagnosed within the first 15 days of the date of commencement of the Policy is excluded. If the Policy is opted for after the occurrence of any of the listed vector-borne diseases, a 60-day waiting period shall be applicable for the specific ailment from the date of the previous admission However, once a benefit is paid under the Policy Schedule during the Policy Period and the Named Insured renews the Policy, in such a scenario for the renewal Policy, a 60-day waiting period from the date of the previous admission would apply for the specific ailment of which a claim has been paid. |
20% discount applicable when bought online |
We are living in times where having medical insurance is not a luxury but a necessity. The COVID-19 pandemic led to increased awareness of the same, highlighting the importance of preventive insurance coverage. With Bajaj Allianz’s health policy, you can ensure that you have the appropriate insurance coverage.
The plan offers coverage for COVID-19 hospitalisation, home-care treatment expenses, AYUSH treatment, and pre-hospitalisation and post-hospitalisation. It also covers treatment expenses for any comorbidity along with COVID-19 treatment up to the sum insured.
Let us check the features offered under the Corona Kavach Policy:
Entry Age (Maximum) |
65 years |
Policy Term |
3.5/6.5/9.5 months |
Waiting Period |
15 days |
Premium Payment Term |
Single |
Pre-Policy Medicals |
Not Applicable |
Before you buy a health insurance plan, ensure to ask the following questions:
Before you zero down on a health policy, it is important to assess your needs. Select the right type of policy that fulfils all your medical requirements
When it comes to health insurance plans, it is vital to consider medical inflation. Also, ensure to compare health insurance and choose a plan that suits your pocket and checks all the prerequisites.
The key benefit of having a health policy can never be overstated. Having an insurance cover will help you receive the needed medical care during emergencies without blowing your hard-earned savings. A health insurance policy offers coverage for much more than hospitalisation costs. Some plans also cover domiciliary hospitalisation in case of home-based medical treatment.
Network hospitals are a crucial aspect to consider while zeroing in on a health insurance policy. They offer cashless facilities and help avail of quality treatment. Since you do not have to pay a significant amount for cashless treatment, barring the health insurance deductible, it becomes handy to have a network hospital in your vicinity.
We at Bajaj Allianz GIC have a range of 18,400+ network hospitals* across India. We believe in protecting you and your hard-earned money. Our average claim settlement time is around 1 hour. It is one of the fastest claim settlement durations in the insurance industry.
At Bajaj Allianz General Insurance, we provide coverage for Ayurvedic and Homeopathic hospitalisation. However, other treatments such as naturopathy, acupuncture, magnetic therapy, etc. are not covered. This may vary between insurers and their plans. Hence, compare health insurance plans carefully, assess the needs, and only then, make the buying decision.
You can make changes to your existing health insurance coverage as per the terms and conditions mentioned in the policy schedule.
The value-added services differ from plan to plan. Before you zero down on any health policy, it’s better to understand the policy wordings, its inclusions, and exclusions to avail of the maximum benefit.
If you have opted for a health policy from Bajaj Allianz, you can enjoy the following coverages:
Our health insurance policies provide coverage for the expenses related to any medical treatment that you receive at a hospital for any illness, accident, or injury.
You are covered for pre- and post-hospitalisation expenses up to 60 and 90 days respectively, if these expenses are related to the treatment that you are receiving.
Most of our plans cover you financially for surgeries/medical procedures related to organ donation.
Our health insurance policies cover treatments even when you are not admitted to a hospital for more than 24 hours for minor medical procedures, aka Day-Care procedures
We cover you for ambulance charges that might be incurred when you are going to or returning from the hospital.
With Bajaj Allianz’s health insurance policies, you will be eligible for a benefit pay-out of ₹ 5,000 annually, in case of continuous hospitalisation for a period of 10 days or more.
We cover you for alternate treatment expenses related to Ayurveda and Homeopathy.
The maternity cover in our health insurance plans takes care of maternity expenses. It also covers medical expenses towards the treatment of a newborn baby, subject to certain terms and conditions.
You can avail the daily cash benefit with our health insurance policies, which can be used to pay for the accommodation of a person accompanying you in the hospital.
For more details, you should check with the health insurance companies to know more about the other benefits they offer. To access the detailed list of inclusions & exclusions, refer to the wordings of the health insurance policy
The general exclusions of a health insurance policy are:
Our health policies do not cover you for any claims raised for the treatment expenses resulting due to war.
Our insurance policies do not cover you for dental treatment unless it is necessitated by an acute traumatic injury or cancer.
The cost of spectacles, contact lenses, hearing aids, crutches, artificial limbs, dentures, artificial teeth etc., are also excluded from the coverage provided by health insurance plans.
Our policies do not offer coverage for intentional self-injury.
Any kind of cosmetic surgery, unless necessary for the treatment of cancer, burns, or accidental Bodily Injury, is excluded from the coverage of our health insurance policies.
Some insurance policies do not cover any treatment that you receive outside India.
However, some policies do. Therefore, it is advisable to go through the exclusions of your policy before proceeding.
Health insurance add-ons, also known as health insurance riders, are an additional way to enhance your policy’s coverage. At Bajaj Allianz General Insurance Company, there are two popular riders to consider that help to enhance your plan.
Health Prime is a rider for select retail and group Health/PA products. It can take care of multiple accompanying medical service expenses that otherwise remain uncovered.
Anyone who has an eligible Bajaj Allianz retail insurance policy, or a personal accident policy, can buy the Health Prime rider for themselves or their family members.
Entry Age | As per the opted base policy |
Policy Period | 1 year, 2 years, or 3 years as per the term of the base plan Up to 5 years maximum for group products, as per the base policy tenure. |
Premium | To be paid via the same instalment premium option as the base health policy, with any effective changes applicable to both. |
Waiting Period | A 30-day waiting period is applicable on all covers. Waiting period/s for pre-existing diseases will be applicable as per the base policy. |
Disclaimer: Please refer to the policy wordings for complete terms and conditions carefully
Read on to know more about the health insurance benefits of our Health Prime rider.
If the insured member suffers from any illness or injury, they can easily consult the Medical Practitioner/ Physician/Doctor listed on the digital platform through video, audio, or chat channels.
The insured person suffering from any illness or injury can consult a Medical Practitioner/ Physician/Doctor in person from prescribed network centres. One can also consult outside prescribed network centres up to the limit as specified in the terms and conditions..
The insured person suffering from any illness or injury can avail of this service for doctor-prescribed investigations for pathology or radiology from prescribed network centres or outside, up to the limit as specified in the terms & conditions.
The insured person can avail of the free preventive health checkup once in each policy year, as per the list given below:
Silver | Gold | Platinum |
---|---|---|
Hemogram | Hemogram | Hemogram |
Liver function test | Liver function test | Liver function test |
Urine routine | Urine routine | Urine routine |
Diabetic profile | Diabetic profile | Diabetic profile |
Lipid profile | Lipid profile | Lipid profile |
Kidney function tests | Complete kidney function profile | Complete kidney function profile |
Thyroid | Thyroid | Thyroid |
Bone health | Bone health | Bone health |
Vitamins | Vitamins | |
Iron deficiency profile | ||
Cardiac risk markers |
Under this cover, one can opt for the following benefits to ensure dental wellness:
1.Consultation with dentists
2.Dental Fillings
3.Dental X-ray investigation (IOPA)
4.Procedures like Root Canal Treatment, Extractions, and Crown restorations
With this cover, the insured members can get expert advice on maintaining a balance between good nutrition and diet as well as the benefit from video/audio/chat consultations with renowned dieticians and nutritionists listed on the digital platform.
Note: This is a cashless service.
The insured member can consult an emotional health coach/ psychologist listed on the digital platform under this cover. Note: This is a cashless service.
The insured member can avail fitness facilities in network Gymnasiums – with a total of 365 sessions, and per day one session, allowed under the cover.
The insured member is eligible for health insurance benefits via the coverage as per the plan selected from the table given below. Note that each member would have to be separately insured for the rider. This applies whether it is health insurance for individual coverage or a floater plan.
Individual Policy :(Amount in ₹)
Benefits | Option 1 | Option 2 | Option 3 | Option 4 | Option 5 | Option 6 | Option 7 | Option 8 |
---|---|---|---|---|---|---|---|---|
Tele-Consultation Cover (Insta Consultation) | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
(GPs) | (All specialties) | (All specialties) | (All specialties) | (All specialties) | (All specialties) | (All specialties) | (All specialties) | |
Doctor Consultation Cover(In-clinic) | 1000 | 2000 | 3000 | 15000 | 7,500 | 30,000 | ||
Doctor-Prescribed Investigations Cover – Pathology & Radiology Expenses | NA | 1,500 | 3,000 | 5,000 | 7,000 | 7,500 | 30,000 | |
Annual Preventive Health Check-up Cover | 1 voucher | 1 voucher | 1 voucher | 1 voucher | 1 voucher | 1 voucher | 1 voucher | 1 voucher |
(silver) | (Silver) | (Silver) | (Silver) | (Silver) | (Silver) | (Gold) | (Platinum) | |
Dental Wellness Cover | - | - | - | - | - | - | 5,000 | 30,000 |
Diet and Nutrition Coverage | - | - | - | - | - | - | 10 sessions | 30 sessions |
Emotional Wellness | - | - | - | - | - | - | 6 sessions | 20 sessions |
Physical Fitness Coverage | - | - | - | - | - | - | - | 365 sessions |
Premium (in ₹) (without co-pay) | 117 | 298 | 589 | 932 | 1,268 | 1,839 | 2,583 | 24,932 |
Premium (in ₹) (with 20% co-pay) | 117 | 262 | 518 | 820 | 1,116 | 1,618 | 2,273 | 21,940 |
Family Floater :(Amount in ₹)
Benefits | Option 1 | Option 2 | Option 3 | Option 4 |
---|---|---|---|---|
Tele-Consultation Cover(Insta Consultation) | Unlimited | Unlimited | Unlimited | Unlimited |
(All specialties) | (All specialties) | (All specialties) | (All specialties) | |
Doctor Consultation Cover | 10,000 | 20,000 | 25,000 | 10,000 |
Doctor-Prescribed Investigations Cover – Pathology & Radiology Expenses | 10,000 | |||
Annual Preventive Health Check-up Cover | 2 vouchers | 2 vouchers | 2 vouchers | 2 vouchers |
(Silver) | (Silver) | (Silver) | (Gold) | |
Dental Wellness | - | - | - | 10,000 |
Diet and Nutrition Consultation | - | - | - | 15 sessions |
Emotional Wellness | - | - | 8 sessions | 15 sessions |
Physical Fitness Coverag | - | - | - | - |
Premium (in ₹) (without co-pay) | 2,120 | 3,495 | 4,344 | 5,370 |
Premium (in ₹) (with 20% co-pay) | 1,866 | 3,075 | 3,823 | 4,725 |
Premium listed here is exclusive of GST.
Also, note that the HPR premium cannot exceed 33 % of the base policy premium
Let us understand a few points regarding exclusions under the Health Prime rider:
Moving ahead, let us understand the specific exclusions under health prime rider.
Teleconsultation outside the digital platform is not covered by the rider. The teleconsultation benefit will not be transferred to any other member unless the member is covered under the base health policy and has opted for this rider. Reimbursement of expenses for teleconsultations benefit is not covered.
Any other expenses of investigations, medicines, procedures, or any medical or non-medical items are not covered. Claims related to ante-natal consultations, and dietician/nutritionist consultations shall not be covered.
The investigation cover can be availed in the respective policy year only. Claims related to ante-natal investigations, preventive health tests, and invasive tests shall not be covered.
Preventive health check-ups cannot be availed outside the prescribed list of hospitals or diagnostic centres. For the locations where home sample collection is unavailable, the customer will have to physically go for the tests. The required tests need to be completed in a single appointment. Reimbursement of expenses incurred for preventive health check-ups is not covered.
Any expenses of investigations, medicines, surgical or non-surgical procedures or any medical, or non-medical items not mentioned under this coverage are excluded. Cosmetic level scaling/polishing, bleaching, cap of teeth, braces, aligner, and tooth replacement, any other cosmetic and aesthetic treatment, are not covered under the plan. Dental wellness coverage cannot be availed outside the prescribed list of dentists and hospitals.
Coverage is only limited to in-app/website/audio/ chat consultations. This benefit is not transferable and reimbursement for availing dietician and nutritionist expenses is not covered.
Coverage is limited to virtual sessions only; in-clinic/physical sessions are not permitted or covered under this benefit. The coverage is not transferable, and neither is any reimbursement incurred for emotional wellness consultation expenses covered under this benefit.
The benefit can only be availed at the prescribed network of gyms and fitness centres. Children below 18 years of age are not eligible for this benefit.
For a complete list of general exclusions as well as coverage-specific exclusions, please refer to the policy wordings.
Missed Call Number for Respect- Senior Care Rider : 9152007550
Whether you live with your parents or reside separately, you can be the constant care companion for the precious senior citizens amidst your busy schedules. At Bajaj Allianz General Insurance, care is at the core of everything we do, and we have introduced Respect- Senior Care Rider. It is a senior citizen health insurance rider for parents that has made caretaking smarter and easier.
The Respect- Senior Care Rider is a one-stop solution for all senior-care needs. It is a health insurance rider for senior citizens providing timely care and assistance.
We understand that taking care of parents is not as easy as it may sound. The guilt of not being by their side to help on a regular basis can be demotivating as well. With the Respect- Senior Care Rider, you can easily recreate the experience of constant safety round-the-clock with its extensive health insurance benefits.
The table below shows the eligibility criteria for the Respect- Senior Care Rider:
Parameters |
Details |
Entry Age |
50 years and above |
Policy Term |
As per the tenure of the base health insurance policy. Also, the rider cannot be chosen during the mid-term of the base policy |
Premium |
As per the plan chosen |
Note: For more information, please read the policy wording carefully.
The Respect- Senior Care Rider offers three plans with varying features. Opt for a plan with senior citizen health insurance coverage that fulfils the needs of the elderly loved ones in your life. The below grid shows the Respect- Senior Care Rider benefits of every plan:
Coverages |
Plan 1 |
Plan 2 |
Plan 3 |
Emergency Road Ambulance Service |
✓ |
✓ |
✓ |
Planned Road Ambulance Service |
✓ |
✓ |
✓ |
Fall Detection Technology through Smart Watch |
No |
No |
✓ |
Physiotherapy Service at Home |
No |
✓ |
✓ |
Nursing Care at Home |
No |
✓ |
✓ |
Tele-Consultation Service for Psychological Services |
No |
✓ |
✓ |
Concierge Assistance Services |
✓ |
✓ |
✓ |
Premium (excl. GST) |
Rs. 710 |
Rs. 2088 |
Rs. 7497 |
Additional Premium for Optional Cover (excl. GST) Unlimited Medical Tele-consultation Services |
Rs. 197 |
Rs. 197 |
Rs. 217
|
Note: For more information, please read the policy wording carefully.
Let us now briefly understand the benefits offered under the Respect- Senior Care Rider:
· Ambulance Service
✓ Emergency Road Ambulance Service (up to 2 ambulance services in a year per insured person)
✓ Planned Road Ambulance Service (up to 2 ambulance services in a year per insured person)
· Fall Detection Technology through Smart Watch
· Physiotherapy Service at Home (up to 5 days a year with up to 1-hour session per day)
· Nursing Care at Home (5 days a year, 12 hours per day)
· Unlimited Medical Tele-consultation services
· Tele-consultation services for psychological conditions (up to 2 consultations in a year)
· Concierge Assistance Services
✓ Daily Care / Home Assistance
- Assistance for arranging Physiotherapy at home
- Assistance for arranging Nursing at home
- Appointment booking assistance at Hospital/Laboratory
- Assistance for booking air Conditioning/water purifier/washing machine repair and maintenance services
- Assistance for booking Electrician, Plumber, and Carpenter services
- Assistance for booking Pest control services
- Assistance for booking car wash/sanitization services
✓ Cyber Assistance
- Assistance on how to block debit/credit card
- Assistance in understanding mobile phones and their usage
- Assistance in downloading OTT (Over The Top) media, making payments, etc.
- Assistance on gadget/app use as per demand e.g. Lab and Medicine Orders, Senior care related products, etc. from the e-commerce platform
✓ Travel Assistance
- Assistance is required in terms of travel booking
✓ Legal Assistance
- Assistance for seeking a legal consultation on will, property contract vetting, etc.
*This is not an exhaustive list.
Note: *Standard T&C apply. For more information, please read the policy wording carefully.
Give your parents the same care, compassion, and love that they have given you. Together, let’s move towards building an ecosystem for senior citizens with the right rider for health insurance for parents above 60
Here is a rundown of the common mistakes that you should avoid when buying a health policy:
A corporate insurance policy will cover you only till the time you are in employment. So, whenever you leave the job or switch companies, you lose the health insurance benefits. Such policies usually offer a low sum insured and do not provide comprehensive coverage. Plus, you may not get coverage during probation. Hence, it is recommended to compare health insurance and choose a comprehensive health policy.
In case you live in a metro city, it is advisable to select a policy with a high sum insured considering the cost of medical treatment in such cities is high. Select a sum insured that covers the medical expenses as per the requirements. In case you have immediate dependents, then opt for a health insurance plan assessing their needs, medical inflation, and an appropriate sum insured.
Before you buy a policy available at a low premium, look at the coverage and benefits it offers.
In case you buy a health insurance plan with a low premium, there are chances that you are missing out on critical coverage. Compare health insurance plans and choose a value-for-money plan. Ensure it can take care of the rising medical needs considering your lifestyle. You can also increase the health insurance deductible if you want a low-cost plan.
Remember, having a comprehensive health insurance policy is more than just saving taxes. A health insurance plan surely lets you avail of the tax benefit under Section 80D of the Income Tax Act. However, you should have medical insurance in place so that you are worry-free in critical times, at least financially. In case your family is to be taken care of, choose a family floater health insurance policy.
Sometimes, individuals hide their past medical records and history from the insurance company in an attempt to reduce their premiums. This can backfire in many ways. If the insurance company comes to know that you have hidden or repressed any medical history, they may reject your claim. Thus, you may be bereft of financial support when you need it the most. Hence, ensure to provide full, accurate medical information to the insurer when buying/ renewing the plan.
Your health policy is an important financial document. It lays down the terms and conditions regarding the extent of the coverage under the insurance plan. The document lists the general exclusions of the plan as well as the specific limits that each coverage aspect may have. Hence, reading through it to understand different features and limitations is important. Otherwise, you may have problems during claim raising and settlement.
One of the biggest misconceptions that people hold about health insurance is that it is only for senior citizens. Hence, they delay unnecessarily in buying it. The truth is that health insurance should be bought at the earliest. This not only leads to lower premiums but also means that you get coverage for a longer period.
The table below shows the common eligibility criteria that are considered while selecting a suitable health insurance cover:
Age criteria | A health insurance plan can be bought for children, adults, and senior citizens. There are dedicated plans as per the age of the individual. Usually, a standard plan covers individuals aged between 18 to 65 years of age Next, you have senior citizen health insurance plans catering to the needs of people who are 46 years and older, since that is the entry age for these plans. |
Pre-existing Diseases | A pre-existing disease is covered only after the completion of the waiting period. When buying the policy, the insurer may inquire in regard to current medical conditions. This can determine your coverage. |
Smoking Habits | The lifestyle of a person also has an important role in the buying process. For instance, the premiums for a non-smoker, compared to a smoker, are relatively low. |
Medical Check-up | Medical check-up is a part of the policy, specifically, if you are aged 45 years or more. So, before the medical insurance policy is issued, these individuals may have to undergo a medical screening. |
An ideal family health insurance plan is the one that protects all your family members. However, it is possible that the needs of some members of the family may be slightly different from the rest. They may need special coverage. For such members, you may choose to buy other plans.
The rest of the family members can be added as dependents on your family floater health insurance plan.
As a policyholder, you can choose to add your children as well as your grandchildren to your policy. The age limit for this is between 3 years to 30 years. On the other hand, family members between 18 years to 65 years of age, who are not children or grandchildren, can also be included in the policy. These could be spouses, parents, parents-in-law, siblings, aunts, and uncles.*
A policy may differ in the way it functions when compared to another one. You may consult your insurance provider to understand how many members could be added to your policy and whether it may affect your premium or any other aspect of your policy.
* Standard T&C Apply
Certain factors that determine the premium of your medical insurance policy are:
The coverage and the sum insured selected by you decide your insurance premium.
More family members in a policy means a higher premium, like in family floater health insurance plans.
Young people are healthier than older people and the risk associated with them is less. So, the premium is lower if you buy a health insurance policy when you are young.
BMI is the ratio of your height and weight. If your BMI is beyond the normal limit, then you might have to pay a higher insurance premium.
Having a genetic disease or any pre-existing disease means the policy premium might be higher.
The premium might be on the higher side if you smoke or chew tobacco and tobacco-containing products.
Women might be required to pay a higher premium than men, as they tend to have more hospital visits.
The cost of a policy should not have to be a concern when you are prioritising your health, as well as that of your family members. It is ideal to look for a plan that fits your budget while also providing adequate coverage. However, as a policy buyer, you should also be aware of some of the factors that can influence your policy premiums:
Age can play a key role in influencing the premium costs of health insurance plans. The younger a person, the lesser their premiums may cost, depending on other factors. Thus, it is advisable to buy a policy when you are younger.
A higher mortality risk may drive your premium costs up as well. If your work puts you at a high risk of accidents, health issues, or fatality, you may be quoted a relatively higher premium as compared to your counterparts who are not engaged in a high-risk occupation.
Smoking is known to lead to several health issues. If you are a regular smoker, it may affect your premiums. To get lower premiums subsequently, as well as to take better care of your health, it may help to quit smoking and focus on a healthier lifestyle.
Some policies can offer more features than others, and hence, tend to be more expensive. When buying a policy, ensure that you respect your budget. Consider your needs before you opt for the costlier option. It is possible to get enough coverage even if you opt for a policy within your budget.
There are a number of benefits to buying a health insurance plan online.
In a time where most policy details are available on the website of the insurer, the journey of policy purchase for a potential policyholder often begins online. It can be quite convenient if this journey can be completed online as well. This is one of the common reasons why several policyholders may opt for an online purchase. The convenience offered by the option of online purchases can mean quicker and more hassle-free policy purchases from wherever you are.
Furthermore, when you buy a policy online, you seldom have to wait for the policy copy to be delivered to you. Once the online policy buying process goes through smoothly, you may receive a copy of your policy via email. You may also be able to download it directly. This also reduces the hassle of having to take care of a physical copy of your policy.
Buying a policy online also allows you to compare the plans to figure out which one suits you best. Once you have decided to buy a policy, it can be purchased right away.
With the help of Bajaj Allianz’s free health insurance calculator, you can get an estimated quote for the policy that you wish to purchase. The quick and easy steps to know your health insurance premium online are:
Head to the online Health insurance premium calculator .
Enter information like your personal details, the details of those whom you wish to insure, and contact details.
Select the plan you wish to purchase, and provide further information such as medical history, pre-existing ailments, and lifestyle habits if any.
Click on the ‘Get My Quote’ button.
Your premium details will be displayed. Click on the ‘Confirm Plan’ button to buy a suitable policy online.
Once you receive the insurance quotes & make the online payment of your premium, you will get your health insurance policy (softcopy) immediately.
Selecting a health insurance policy is often regarded as a task, due to the plethora of options available. It can get confusing to choose the most suitable policy for your medical needs among all the options. However, one way you can select a health insurance cover fitting all your needs is by comparing policies online.
So, let us understand some of the key advantages of comparing policies online:
Every important piece of information related to your policy is available in just a few clicks.
You can compare health insurance quotes with online calculators, which are available for free, and select the best suitable policy.
With the calculator, the ability to compare health insurance plans online is convenient and hassle-free. You can view the plans, and compare their features, benefits, and premiums side-by-side
Online reviews help to choose the insurer and look for the claim settlement ratio of that company. Selecting an insurer that has a good reputation in the market ensures a swift claim settlement.
Buying a policy online is a simple process that anyone could opt for. When you buy a policy online, you are immediately issued a soft copy of the policy.
However, if you require a physical copy for any reason, you may take a printout of the soft copy you have received. When making claims, it is important to have the policy details with you, a purpose that is served by a soft copy as well as a physical copy.
Furthermore, a physical policy document may be issued to you if you buy the policy offline. You may be able to opt for this with the help of an insurance agent or by getting in touch with a representative of the insurance provider.
If you are relying entirely on a physical copy of your health insurance, store it carefully and safely. You as well as your family members should be able to access the copy whenever needed.
Health insurance claims can be settled by either a cashless or a reimbursement claim. Both ways of settling your health insurance claim are easy, quick, and convenient.
The treatment for your ailment under a cashless claim is possible without paying anything from your pocket. The medical bill will be directly settled by the network as well as the non-network hospital with your insurer as per the terms and conditions mentioned in your policy. Most of the health insurance companies in India provide a health card that can be used to avail cashless treatment at one of the network and non-network hospitals.
If you choose to get the treatment for your ailment at a non-network hospital, or if your preferred hospital is not a network hospital, then you can file a reimbursement insurance claim. To register the claim, you need to submit the relevant hospital bills and medical records to your insurance company. Once these documents are verified, the claim amount will be settled in your registered bank account.
In case of planned treatments or hospitalisation, you can use the cashless claim facility. You need to inform your insurer 48 hours before the planned treatment date. Next, the network or non-network hospital needs to fill out a pre-authorisation form and send this form to your insurance provider. Your insurance provider will verify the required details and provide approval for the cashless treatment. For non-network hospitals, the approval for such cashless treatment is subject to acceptance by such hospitals outside the insurer’s hospital network.
In case of an emergency, like an accident, you can use the health card provided by your insurance company and submit it at the hospital’s medical desk. If the approval comes through, you can avail cashless claims benefit. For the ‘cashless everywhere’ feature, you will need to inform your insurer within 24 hours of the treatment’s commencement by mailing us at Cashless.Forall@bajajallianz.co.in along with the required documents for claim processing.
Health CDC (Claim by Direct Settlement) is a feature provided by Bajaj Allianz for settling your health insurance claims up to ₹ 20,000 instantly using our mobile app - Caringly Yours.
Claims on your health insurance cannot be made during the waiting period, if any. This may differ from policy to policy. Hence, it is essential to consult your insurance provider or read your policy document to understand your waiting period.
Furthermore, it is ideal to initiate a claim as soon as you or a dependant covered by the policy are in need of any of the treatments covered by the policy. When you buy the policy, it is best to get yourself acquainted with the claim process beforehand.
One of the most useful health insurance benefits, a network hospital, is a medical facility that has an agreement signed with the health insurance company. This tie-up between the hospital and the insurance provider allows you to avail the benefit of cashless health insurance claims. You can check out the list of Bajaj Allianz’s network hospitals online.
You can search for a network hospital on our website by entering the name of the hospital or the city where you want to get the medical treatment. Once you enter the search criteria, you need to click on the ‘Find Hospital’ button. You will be displayed a list of network hospitals defined by your search criteria.
The benefits of choosing a network hospital for your or your family members’ treatment are:
Cashless claim benefit means you do not need to pay for treatments from your pocket.
You get quality assurance for treatment with well-trained doctors, the latest medical equipment, and best-in-class hospitality.
You get the required care during hospitalisation as well as for pre- & post-hospitalisation treatments.
Section 80D of the Income Tax Act, 1961, permits the taxpayers to avail of the deduction on the premium paid towards the health insurance policy. This can be availed on the regular insurance premiums, along with the premiums paid for the top-up on health insurance, as well as for critical illness plans.
You can avail of the deduction under Section 80D on the premiums paid towards purchasing a policy for yourself, dependent children, spouse, and parents.
The premium paid qualifies for a deduction of up to Rs 25,000 under Section 80D in each financial year. If either your parents or any one of them is a senior citizen, then the deduction goes up to Rs 50,000 in one financial year.
The following are the tax deductions available to an individual under Section 80D (as of 2023-24):
Individuals Covered |
Premium Paid |
Tax Exemption |
|
|
Self, Children & Family |
Parents |
|
Individual & parents who are less than 60 years of age |
₹ 25,000 |
₹ 25,000 |
₹ 50,000 |
Individual & family less than 60 years but parents are more than 60 years |
₹ 25,000 |
₹ 50,000 |
₹ 75,000 |
Individuals, parents & family more than 60 years of age |
₹ 50,000 |
₹ 50,000 |
₹ 1,00,000 |
Members of HUF & Non-resident Individual |
₹ 25,000 |
₹ 25,000 |
₹ 25,000 |
Disclaimer:The tax benefits are subject to change as per the prevailing laws.
Medical emergencies tend to come unannounced. If you do not have a health insurance policy in place, then you could end up paying hefty medical bills. Despite the rising healthcare expenses, people often overlook the importance of securing themselves or their families with a suitable mediclaim policy.
A mediclaim policy is insurance coverage wherein your insurer covers the cost of treatment. Having a mediclaim policy is especially beneficial if treatment is sought at a network hospital, where you can enjoy the benefit of a cashless claim.
The Sum Insured is the maximum amount that your health insurance company is liable to pay. If the expenses of your medical treatment exceed the Sum Insured opted by you, then you will have to bear the amount exceeding such Sum Insured.
If you are suffering from an ailment before buying an insurance policy, then that ailment is classified as a pre-existing disease.
It is the time span you need to wait before the coverage for your health insurance policy begins. For instance, many policies have a fixed waiting period before they provide coverage for pre-existing diseases.
Sub-limits are limitations your health insurance providers place to restrict the expenses they need to pay for a particular ailment. It can help reduce the cases of fraudulent claims. Most insurance companies have sub-limits on room rents, common ailments, pre-planned procedures, ambulance expenses, and doctor’s fees. Sub-limits can be a fixed percentage of the Sum Insured opted by you, or a fixed amount as agreed with the insurer.
Co-payment or co-pay in health insurance is a fixed percentage of the claim amount you need to pay before the insurance company pays for the same. You can opt for the co-payment clause when you buy or renew your health insurance policy. Since it is the amount you need to pay from your own pocket, it helps to reduce the premium amount.
Deductible rests on the concept of cost-sharing between you and the insurance company providing you with health insurance. It is a fixed amount that you (the policyholder) need to pay every time you raise an insurance claim. There are two types of deductible: voluntary and compulsory, depending on the type of policy you purchase.
Room rent limit is the maximum coverage your health insurance policy provides for each day of room charges, in case you are admitted to a hospital.
If you have multiple health insurance policies, then you can file a claim with all of them. The claim amount will be reimbursed by all such insurance companies as per a fixed percentage decided by you. This concept is called coinsurance.
So, if you apply the concept of coinsurance between two insurance companies, A and B, as 40% and 60% respectively, then, on a claim of ₹ 1 lakh, company A will reimburse ₹40,000 to you and company B will reimburse ₹60,000 to you, as per the terms and conditions of the health insurance policies.
Health insurance companies offer a free-look period. This period is usually 15 days for the policies purchased offline and 30 days for those purchased online. In this period, you can check your policy and decide whether it is best suited for you or not.
If you think it isn’t adequate, you can cancel this policy within the said period. No cancellation charges will be applicable during the free-look period. However, a premium will be charged on a pro-rata basis for the days the coverage was active.
After the expiry of your health insurance policy, you have a time span of 30 days to renew it. This 30-day period is the grace period.
If you renew your policy within these 30 days, you will get the benefits of your medical insurance policy, such as the waiting period and coverage for pre-existing diseases reinstated. Any claims made during the grace period will not be covered by the insurer.
One of the common mistakes that people often tend to commit is implying that mediclaim is the same as health insurance. However, that is not the case. Let us understand the differences between health insurance and mediclaim insurance.
Parameters | Health Insurance | Mediclaim Policy |
---|---|---|
Coverage | A health insurance plan offers coverage for hospitalisation, pre- & post-treatment expenses, ambulance charges, etc., where the policyholder is reimbursed for the expenses |
A mediclaim policy, on the other hand, offers to cover the expenses related to hospitalisation without the policyholder having to pay for it. |
Flexibility | It offers the flexibility to enhance the plan by paying a nominal premium. |
In terms of coverage, a mediclaim policy does not have flexibility. |
Add-on Cover | Offers multiple add-ons. |
No add-on covers are available. |
Critical Illness Cover | It offers coverage for more than 10 life-threatening diseases. |
Cover for critical illness isn’t available. |
Nearly 10-30 per cent of young people suffer from health-impacting behaviours and conditions that need the urgent attention of policy makers and public health professionals. Nutritional disorders (both malnutrition and over-nutrition), tobacco use, harmful alcohol use, other substance use, high-risk sexual behaviours, stress, common mental disorders, and injuries (road traffic injuries, suicides, violence of different types) specifically affect this population and have a long-lasting impact.
When you start earning early, it’s important to save for the future. Buying medical insurance at an early age may help you be less worried about paying any medical bills.
Here is a rundown of the benefits of buying medical insurance at an early age:
Comprehensive coverage for any health emergency that may occur, that would otherwise leave you in financial distress.
In case of any pre-existing disease, your waiting period might be short.
At a young age, you are less likely to fall ill or be prone to diseases. Thus, during these years, insurance premiums tend to be rather cost-effective.
The tax benefits under Section 80D enable savings on income and directs your money towards secured future planning.
Health insurance plans provide a cumulative bonus which helps to increase the sum insured for each claim-free year. Since you would be buying the medical insurance policy early in life, the chances of filing a claim may be lower. This could help you avail a higher sum insured in the long run.
You can enhance the insurance coverage using add-on riders, which can make the health insurance plan more comprehensive.
When you are young, you tend to be less vulnerable to any chronic illness or diseases. Nonetheless, it is wise to make a financial investment when you are young and healthy. It lets you enjoy significant benefits throughout life. Securing your health with the help of an insurance policy, especially with changing lifestyles, rising pollution, and newer infectious agents in our environment, enables you to get proper financial assistance during medical emergencies.
The General Insurance Council (GIC) has introduced the ‘Cashless Everywhere’, for the benefit of health insurance policyholders.
With ‘Cashless Everywhere’, in the event of hospitalisation, policyholders of health insurance can:
Policyholders can apply for an admissible claim and avoid paying out of their own pocket. The bill will then be settled by the insurer.
As long as all the terms and conditions pertaining to the claims are met, the cashless facility can be availed at any hospital. Thus, a policyholder need not worry about arranging funds for the treatment.
For hospitals not part of the network hospital list, it would be best to inform the insurer about the claim 48 hours before the admission for any planned procedures and within 24 hours after admission in case of an emergency treatment.
To avail the benefit of cashless facility for medical insurance when applying for a claim at a network hospital, you need to simply inform your insurer about it via the official contact channels.
Please read all the terms and conditions related to the feature before choosing a policy or submitting a claim.
You can submit any of the following documents as your residential proof:
✓ Voter’s ID
✓ Aadhaar card
✓ Passport
✓ Electricity bill
✓ Driving license
✓ Ration card
Any of the following documents suffice as your age proof:
✓ Passport
✓ Aadhaar card
✓ Birth certificate
✓ PAN card
✓ 10th and 12th class mark sheet
✓ Voter’s ID
✓ Driving license
Any of the documents mentioned below can be used as your identity proof:
✓ Aadhaar card
✓ Driving license
✓ Passport
✓ PAN card
✓ Voter’s ID
Based on the coverage opted by you, your age, medical history, current lifestyle choices, and your residential address, you might be asked to submit a few more documents.
If you’re looking to buy medical insurance online, look no further. You can purchase Bajaj Allianz’s health insurance policy online quickly and conveniently with the help of the following steps:
Click on ‘I Want to Buy’ present in the top-right corner of the page.
Select the health insurance policy that you want to buy.
Enter your details like your name, your date of birth, the medical insurance policy that you want to buy and the details of other family members whom you want to cover under the selected health insurance policy, your pin code, and contact number.
Click on the ‘Get My Quote’ button.
Your health insurance quotes and premium details will be displayed on the screen. Here you can also select the co-payment option as per your convenience. Then, click on ‘Confirm Plan’ button to buy a health insurance policy online.
Once you make an online payment of the premium, you will get your softcopy of the health insurance policy immediately.
Most health insurance companies in India have a website which features their policies. Some companies, including Bajaj Allianz General Insurance, even have an app for fulfilling your online insurance needs.
You can also buy our health insurance policy by downloading our mobile app – Caringly Yours, by us a simple ‘Hi’ on our WhatsApp number: +91 75072 45858 or by giving a missed call at: +91 80809 45060.
Insurance renewal is essential to maintain the continuity of the coverage provided by your health insurance policy. Thus, renewal must be made before your insurance plan expires. If you fail to renew your policy even after it expires, then the insurer will provide you a grace period of 30 days for health insurance renewal .
During this period of 30 days, you will not be covered for any health insurance claims. To renew your Bajaj Allianz’s health insurance policy, you can visit our website or download our mobile app – Caringly Yours. You can also send us a ‘Hi’ on our WhatsApp number (+91 75072 45858) and our customer support team can assist you with your requirements.
Health insurance portability allows you to switch your insurance provider without losing the benefits of your existing insurance policy. So, if you are not satisfied with your current medical insurance plan, or you are looking for something more in your policy,You always have the option of porting your health insurance policy to another insurer.You have the following options when you decide to switch your health insurance policy:
✓ Previous health insurance policies
✓ Claim experience in detail
✓ Proposal form
✓ Age proof
✓ Any positive declarations – discharge card, investigation reports, latest prescriptions & the clinical condition
✓ Any other document as requested by the insurer
(Based on 3,912 reviews & ratings)
My happiness and satisfaction regarding my claim settlement which was approved within 2 days ...
Speed with which insurance copy was delivered in times of lockdown. Hats off to the Bajaj Allianz team.
I would like to thank the team of Bajajallianz Vadodara, Specifically Mr. Hardik Makwana and Mr. Ashish Gupta...
Hassle Free through web with all option we can review while taking policy.
Easiest for anyone, no hassle, no confusion. Great work. Good luck.
Very user friendly. I got my policy in less than 10 minutes.
It is not mandatory to buy a health insurance policy in India. But it is very important to have the financial security of one to handle any kind of medical emergency.
Bajaj Allianz’s Health Insurance policy helps you save tax up to INR 1 lakh under Section 80D against the premiums you pay. Here’s how you can save tax:
On the premiums paid for self, spouse, children, and your parents, you can avail a deduction of INR 25,000 per annum against your taxable income (provided you are not over 60 years of age).
If you pay a premium for your parents who are senior citizens (age 60 or above), the maximum health insurance benefit for tax purposes is capped at INR 50,000.
Therefore, as a taxpayer, you may maximise the tax benefit under Section 80D up to a total of INR 75,000, if you are below 60 years of age and your parents are senior citizens.
However, if you are above the age of 60 years and are paying a medical insurance premium for your parents, the maximum tax benefit under Section 80D is INR 1 lakh.
A health insurance policy from your employer might have a few benefits, but there are also some limitations associated with corporate medical insurance plans:
The premium amount mainly depends on the sum insured and the number of members covered under the policy. Here are a few other factors that determine your premium:
Pre-existing diseases are those ailments that you may be suffering from before buying a medical insurance policy. Hence, you must declare any pre-existing disease/condition at the time of purchase.
One of the key factors to keep in mind is that pre-existing diseases have a waiting period, and it differs between insurance companies. Hence, by purchasing a policy at a young age, you can hope that by the time, and if you are diagnosed with a disease that falls under the pre-existing category, your waiting period will be complete. Also, an early policy purchase ensures you are eligible to avail full benefits of your medical insurance policy.
Yes, you are covered for all your health-related emergencies with your insurance provider all over the country, subject to the terms and conditions of your policy.
Yes, health insurance plans provide maternity and newborn coverage. However, there will be a waiting period before the coverage for the same begins. Check the coverage and the waiting period with your insurer if you are buying a policy specifically for covering maternity expenses.
Yes, the hospitalisation expenses on account of COVID-19 will be covered under your existing health insurance policy, under In-Patient Hospitalisation, as per the terms and conditions mentioned.
The claim settlement ratio correlates the number of claims settled by a health insurance company with the total number of claims raised in a given time frame. The higher the claim settlement ratio, the better the insurance company’s pay-out.
You can either file a cashless health insurance claim or a reimbursement claim. At Bajaj Allianz, we have our in-house Health and Administration Team (HAT), for quick and easy claim-processing.
For cashless claims, you need to get a pre-authorisation letter from the network hospital. Bajaj Allianz will then approve the claim after successful verification of the pre-authorisation form and the health insurance policy. You can avail the benefit of cashless claims once the approval is given to the network hospital.
For reimbursement claims, you will need to send Bajaj Allianz the medical bills, along with the policy details and the discharge summary provided by the non-network hospital. After verification of these documents, the claim amount will then be settled and directly deposited in your bank account.
At Bajaj Allianz, we settle your cashless claims within 60 minutes with the help of our fast claim-processing in-house Health Administration Team (HAT).
With the Health CDC (Claim by Direct Click) feature of our mobile app, “Caringly Yours”, we settle your claims up to INR 20,000 within 20 minutes.
We settle your reimbursement claims within 10 days after receiving and assessing all the documents submitted by you.
Your health insurance company might deny your claim settlement in case of the following scenarios:
With Bajaj Allianz’s smooth claim settlement process, here is how you can register and settle your health insurance claim during the lockdown:
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Written By : Bajaj Allianz - Updated : 29th Apr 2024