4. Salient points of the Insurance Products (Insurance Companies)
Apollo DKV Insurance Company Limited.
- Second Indian Health Insurance Company.
- Started the operations in New Delhi on 8th Aug, 2007
- Emphasis on the web
- Details available on the website.
Bajaj Allianz General Insurance Company Limited
- It offers early claim settlement to attract the consumers.
Cholamandalam MS General Insurance Company Limited
- Covers upto Rs. 10 lak, however, the income criteria comes into play.
- Surgery of 140 days is also covered.
HDFC General Insurance Company Ltd.
- Not known for the health insurance covers.
- Recently got detached from Chubb, USA.
ICICI Lombard General Insurance Limited.
- Offering Family Floater Policy.
- EMI is possible.
- Better services.
- Limit on Family Floater is of Rs. 4 lakh.
IFFCO Tokio General Insurance Company Limited
- Offering normal products at fair pricing.
- Ayurvedic treatment is also covered.
Max Bupa Health Insurance Company Limited
- Serving Metro Cities.
- Serving upper middle category of the society.
- Don't use TPA's
- Those who are looking for exclusive services and coverage of Rs. 15 lakh can opt for this.
- Max sum assured is Rs. 50 lakh.
- At the time of making proposal, there is reimbursement of medical test cost incurred.
- Provide OPD coverage
- A doctor will act as a relationship manager. He will be your guide and direct you at every phase.
National Insurance Company Limited
- Under the normal policy they discourage the takers who are 50+
- Varistha Bima for 60+ citizens.
- In identification formalities, they take relatively more time.
- 4000+ hospitals are listed with them.
New India Assurance Company Limited
- Products available for senior citizens as well.
- Highest limit being offered is Rs. 10 lakh. Planning to raise it to Rs. 25 lakh.
- 4082 hospitals listed with them.
- Take time in identifying the insured.
- Divided India into 3 zones and came out with premium rates.
Oriental Insurance Company Limited
- Discouraging people who are 50+
- Need full identification proof and may take time in that.
- Hospital list is upto 4082
- Introduced new premium rate list in 2006 in which they have reduced the rates for younger group and increased the same for the higher age.
- Don't opt for cashless settlement option and enjoy 5% discount.
- No claim bonus concept for new policy holders.
Reliance General Insurance Company Limited
- Low rates for those who are below 45 years.
- Availability of Family Floater policy.
- Not interested in Group health policy or product.
Royal Sundram Alliance Insurance Company Limited
- Simple proposal form.
- Accept credit card payments.
- Do not issue policies on stand-alone basis.
- Small hospital list.
- Maximum limit offered is Rs. 3 lakh.
- 'No claim bonus even at 15%
Star health and Allied Insurance Company Limited
- The very first health insurance company.
- Offering myriad products.
- Products for senior citizens and no medical test is required.
- TPA is not being used.
- Senior citizens' special products containing higher premium.
- For low income group, a micro insurance concept is there.
United India Insurance Company Limited
- Discouraging people who are more than 50 years old.
- Personal identification may take time.
- 4082 hospitals listed in the hospital list.
5. In India, what does a health insurance policy cover?
If a patient is there in the hospital for more than 24 hours, the insurance company will bear the expenses occurred.
- Requirement of a Surgery
- Room Expenses, boarding expenses in the nursing home or in the hospital.
- ICU and Nursing expenses
- Consultant, specialist, surgeon, anaesthetist and medical practitioner fees
- Pre and post-hospitalization cost
- Eye and general health examination
- Instant Ambulance Services
- Daily Allowance
- There must be a hospitalization for atleast 24 hours except Chemotherapy, Dialysis, Eye-surgery, Dental Surgery, Tonsillectomy, D&C, and Radiotherapy.
- The pre-hospitalization expenses include: X-ray, Laboratory and other medical diagnostic procedures ordered by the physician.
- On the other hand, the post medical hospitalization includes the medical treatment recommended by physician
- Eye examination and general health: Radiology, Blood Diabetes, Liver, Renal/Kidney, Cardiac Lipid, Phospholids, Lung, Abdomen, Cancer, Optometry, Slit Lamp Examination, Direct Fungus Examination, Indirect Fungus Examination, Color Vision Testing, Prescription of Glasses (if required).
- Local Ambulance Service on Emergency.
- Daily hospital allowance
- Day care surgery includes: Microsurgical operations (middle ear), other middle and internal ear operation, nose and the nasal sinuses, eyes, skin, mouth and face, Traumatological surgery and orthopedics, the digestive tract, male and female sexual organs, urinary system. If you are older than 45 years of age, a medical test is compulsory