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Health Insurance

Difference Between Individual And Family Health Insurance

Difference between individual and family health insurance plans

If you are looking to buy health insurance for your entire family, you should look at investigating family floater health insurance plans. They could reduce your premium costs and increase your coverage.

Let us learn about the difference between individual health insurance and family health insurance (Floater health insurance) and their advantages over individual health insurance plans.

What is a family floater health insurance plan?

A family floater health insurance plan is a single health insurance policy that provides coverage to your entire family. You do not need to buy different health insurance policies for different members of your family. A single policy will provide protection to your entire family. Let us understand the concept of a floater policy with the help of an example.

Example

Mr. Srinath has a family of 4. himself, his wife, and his 2 sons. He wants to buy a health plan that covers his entire family. He buys a floater health insurance policy from Reliance General Insurance with a coverage of Rs 30 Lakhs.

If any of his family members get hospitalized, they can get coverage under this one single policy. The premium costs of this policy will also be much lower compared to an individual policy of similar value.

Difference between individual and family health insurance plans

 

Individual Health Insurance

Floater Health Insurance

Does it provide coverage to the entire family?

No. It only provides coverage to a single policyholder

Yes. A floater policy will provide coverage to the entire family.

Does this plan cover parents?

No

Yes. A floater policy can provide coverage to aging parents and even in laws.

What is cheaper?

Since this is an exclusive policy, the per person premium cost will be higher.

Since this is a non-exclusive policy, the per person premium cost will be lower compared to an individual policy.

Is it widely available?

Yes. This is the most widely available health insurance policy.

Yes. A floater health plan is also very widely available. Most health insurance companies have this type of plan.

Is it suitable for a large family?

No. Only suitable for one person

This plan could be suitable for a large family but you should ensure that the coverage amount is adequate to cover all members of the family.

How is the premium amount decided?

Based on the policyholder

Based on the most senior member of the family.

Can the policy be ported?

Yes. An individual health insurance policy can easily be ported to another insurance company if the policyholder chooses to do so.

Yes. There are no restrictions in porting a floater health insurance policy to another insurance provider.

We hope this article has given you a brief understanding of individual and floater health insurance companies and the difference between the two. We hope you will use this information to make a smart health care decision for yourself and your family.

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Health Insurance

Advantages Of Acquiring Insurance At An Early Age

Advantages of acquiring insurance at an early age

With the current pandemic situation and lifestyle choices of individuals, buying health insurance has never been more important. It is absolutely critical for a person to buy health insurance for himself and his family.

However, insurance premiums can be a slight hiccup when a person is looking to buy insurance. How can a person buy insurance and not pay a high premium at the same time? Can it be done? Absolutely!

Let us have a look at some of the advantages of buying insurance at an early age.

Advantages of buying insurance at an early age

The earlier you buy, the cheaper the premium

If you’re looking to get insured for a relatively low premium, then buying insurance early is the way to go. Insurance company premium slabs vary as the policyholder’s age increases. Let us understand this with an example.

Example

Mr. Jayesh (25 years old) wants to buy a health insurance policy with a coverage of Rs 10 Lakhs from Manipal Cigna Health Insurance. The company quotes him a premium of Rs. 10 thousand a year for the coverage.

Mr. Mukesh (55 years old) wants to buy the same health insurance policy with the same coverage. The company will now quote him a price of Rs 25 thousand per year for the coverage.

As you can see, buying insurance early can massively reduce the premium costs.

No health check-up for young buyers

Insurance companies generally do not insist on a health check-up from younger customers. This can make buying health insurance really simple for younger people. As the customer’s age goes up, the insurance company can insist on a comprehensive health check-up of the customer. If you want to avoid this, buy a policy early on in your life.

Higher coverage

Insurance companies are generally hesitant to provide high coverage to older customers. If the age of the customer is relatively young, he/she can get the benefit of higher coverage for a lower premium. The coverage amount is usually lower for customers buying policies after 60 years of age.

Avail tax benefit for longer duration

If you buy insurance at an early age, you can avail of tax benefits under Section 80D of the I.T Act for a longer duration. This will reduce your overall tax liability greatly over the coming years.

Pre-existing conditions

There is a chance that your insurance company will exclude coverage of any pre-existing conditions if you are at an advanced age. To avoid this issue, a customer should ideally buy a health plan early on in their life. Doing so will ensure that the insurance company will provide coverage to any pre-existing condition that the customer may be suffering from.

Companies will generally accept your application easily if you are young

Companies generally accept your insurance application very easily without any scrutiny if the customer is young. If you want to avoid company scrutiny buy insurance early.

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Health Insurance

What is a TPA in Insurance? (Functions, Benefits & Role)

What is a TPA in Insurance? (Functions, Benefits & Role)

Many businesses across various industries outsource services from agencies or companies. The insurance industry is no exception. In the insurance industry, there are TPAs (Third-Party Administrators) which are licensed to make the processes related to insurance more efficient. As time has gone by, TPAs have become the problem-solvers for policyholders. Continue reading to know more about TPA in insurance.

What is a TPA?

TPA or Third-Party Administrator is a body that provides services such as processing claims and employee benefits. This body can be a company, an agency or an organisation. A TPA is licensed by the Insurance Regulatory Development Authority (IRDA). It can be independent, or it can also act as an entity belonging to the insurer.

The TPA is appointed by the insurance provider. Hence, if the insurance holder faces any issues regarding the claim settlement, then he/she should contact the insurer and not the TPA. However, if there is a problem with the process of the claim, then the policyholder can reach out to the TPA.

Why are Third-Party Administrators needed?

The process of claim settlement is not effortless. Sometimes, there are many hurdles that need to be crossed. Having a TPA can reduce these hurdles. It can ensure that the services are delivered with greater efficiency. As a TPA cross checks documents and information, it increases the quality of the services provided. It also improves standardization procedures. TPAs have also increased the knowledge base of services such as healthcare services. This has allowed for greater penetration of health insurance.

TPAs also establish protocols to carry out the investigation faster and reduce unnecessary delays. This minimizes the expenditures. Along with that, TPAs are also needed to pave the way for lower insurance premiums.

What are the functions of a TPA in Insurance?

Some of the functions of a Third-Party Administrator are:

1. Easy Claim Settlement

Whenever a claim is filed, it is the responsibility of the TPA to check all the documents that are submitted in support of the claim. The TPA can request more information to double check the details. The TPA also guides the policyholder about the right kind of documentation. This simplifies the claim settlement process. Hence, the TPA helps in easy processing and settlement of claims.

2. Connecting Link

A Third-Party Administrator is the link between the insurance company and the policyholder. Whenever a claim is filed, the policyholder will directly and indirectly meet the TPA.

3. Record Keeping

All the documents related to the policyholder are maintained by the TPA. For instance, if a policyholder is admitted as a patient, all the important documents will be maintained by the Third-Party Administrator. These records are usually stored in a secure database.

4. Support to Policyholders

Many Third-party Administrators provide information and assistance to policyholders related to their claims. TPAs also offer 24×7 support to policyholders through call centres and mobile applications.

What is the role of a TPA in a Health Insurance?

Many health insurance companies use third-parties for their claims processing. During the processing a of health insurance, a TPA would:

1. Give Health Cards to the Insured

A validation procedure is carried out for every policy issued to the policyholder. After the validation procedure is complete, an authorized health card is issued. This card is very important for claim processing. The card has the details of the policy number and the TPA who is responsible for the processing of claims. While getting admitted to the hospital, the insured can start the process of the claim by offering this card.

2. Provide Additional Services

Some TPAs also offer extra services to the policyholder. These services can include helping with procurement of extra beds, ambulances, medicine, etc.

3. Strengthen the Hospital Network

Having a TPA helps the policyholder get the important benefits that come with a health insurance policy. A TPA finds and enlists good hospitals which can arrange for quick cashless treatment. The TPA builds a strong network of hospitals so that the policyholder can get the best treatment.

According to some experts, the primary service offered by TPAs should be providing cashless hospitalization of the insured.

What is the Cashless Claim Facility?

Your insurer will provide you with a Guide Book and a list of Network Hospitals when you buy a health policy. Whenever a claim is filed, a TPA can approve of a cashless claim settlement or reimburse it later. It basically means that you won’t have to pay your hospitalization bills at the time of discharge.

To avail the cashless facility, you need to visit one of the network hospitals that come under the network group of your insurer.

The hospital coordinates with the TPA for authorization in the case of a cashless claim facility. To avail this facility, you just need to take an identity proof and the valid policy proofs to the hospital. If you want to be referred to a network hospital, then you need to give the following documents to you TPA for the authorization of the cashless facility:

  • An original detailed prescription from the doctor. It should contain a description of the symptoms of the diagnosed disease on the letterhead of an authorized medical practitioner.
  • The hospitalization form mentioned by the insurer.
  • And details of the old policy (if the TPA does not have a copy of it).

If there are missing or incomplete details of hospitalization, or if your disease is not covered under the policy, you will not be able to avail the cashless treatment. This is why you should provide complete and accurate details about your hospitalization history.

Under a health insurance policy, the waiting period is 30 days. This means that any disease that gets diagnosed or happens within that period will not be covered by the policy. But the policy will cover any accident that takes place in the initial 30 days of the policy.

Even though one of the main purposes of TPAs is to help policyholders, many policyholders still need to learn more about TPA in insurance. By gaining more knowledge about the services and benefits provided by TPAs, the insured will be able to get the best out of their insurance policies.

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Health Insurance

How to Get Your Ayushman Bharat Yojana Card?

How to Get Your Ayushman Bharat Yojana Card?

The Ayushman Bharat Yojana is a scheme launched by the Indian government in September 2018. This scheme aims to provide free health care to people with a low income. The Ayushman Bharat Yojana applies to all beneficiaries who are identified by the SECC 2011 and who are already a part of the RSBY scheme. The process of applying to the scheme and getting a Ayushman Bharat Yojana Card is simple.

Check Your Ayushman Bharat Yojana Scheme Eligibility

Before actually getting your Ayushman Bharat Yojana Card, you will have to check if you are eligible for the scheme. You can follow the steps given below to check your eligibility:

Step 1: Visit the government website for Ayushman Bharat Yojana (https://www.pmjay.gov.in/) and click on the ‘Am I Eligible’ button.

Step 2: Enter your mobile number and click on ‘Generate OTP’.

Step 3: Select your state and search by your name/ ration card number/ HHD number/ mobile number.

Step 4: Based on the results, you can know if you and your family are eligible for coverage under the scheme.

You can also contact any Empaneled Health Care Provider (ECHP) or call the Ayushman Bharat Yojana call center at 14555 or 1800-111-565 to know about your Ayushman Bharat Yojana eligibility.

The documents required to apply for the Ayushman Bharat Card are:

  • Caste Certificate
  • Income Certificate
  • Identity and Age Proof (Aadhar Card/ PAN Card)
  • Details of mobile number, email address and residential address.
  • Documents stating the current family status.

Ayushman Bharat Yojana Card Generation

Once you know that you’re eligible for the Ayushman Bharat Yojana Scheme, you can work towards getting an e-card. This card is also known as the Ayushman Bharat Yojana Golden Card. Before this card is issued to a beneficiary, government officials verify the identity of the person at a PMJAY kiosk. This is done with the help of a document like an Aadhar Card or Ration Card. The family identification proofs can include a government certified list of members, RSBY Card and a PM Letter. After the verification is complete, the e-card is printed along with the unique AB-PMJAY ID.

Get Your Ayushman Bharat Yojana Card Online

You can also get your Ayushman Bharat Yojana Golden Card online. To get the PMJAY Golden Card, you can follow these steps:

Step 1: Visit the official PMJAY website (https://mera.pmjay.gov.in/search/login) and log in with your registered mobile number.

Step 2: Enter the CAPTCHA code and generate the OTP.

Step 3: Opt for the HHD Code.

Step 4: Provide the HHD code to the CSC (Common Service Centre) to check the HHD code and other details.

Step 5: The CSC representatives, who are also known as Ayushman Mitras will complete the remaining process.

Step 6: After the process is completed, you will have to pay Rs. 30 to get your Ayushman Bharat Yojana Card.

The Ayushman Bharat Yojana Card has made the process of getting treatment through the PMJAY scheme cashless and paperless. When the patient is availing treatment at an empaneled hospital, he/she will need to show their e-card.

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Health Insurance

Health Insurance for Parents

Health Insurance for Parents

Old age brings along health ailments that might be expensive to take care of. This is why we must take all precautions to protect them both physically and financially against such risks. Taking up health insurance is the foremost precaution one must consider; it adds a layer of protection around not only your parents but the whole family and gives you financial aid in any kind of health emergency. Health insurance for parents offers various coverages and benefits, let’s dive deeper and understand various health insurance plans and their benefits.

1. Bajaj Allianz Silver Health Plan

Bajaj Allianz silver health plan is a health insurance policy specifically designed to suit the needs of senior citizens and is available from the age group of 46 to 70 years.

Coverage offered

The plan offers extensive coverage which includes

  • Hospitalization expenses
  • Pre and post hospitalization charges
  • Ambulance charges
  • Cover for pre-existing illnesses and cataract surgeries (only after completing the first year of the policy)
  • Over 130 Day care procedures.

Benefits offered under the policy

  • If you choose to cover your whole family under the policy, you will get a discount of 5% of the total amount.
  • You can enjoy cashless claims if you take treatment in the listed hospitals under the insurance company.
  • If you choose to opt for treatment and any other hospital, the payment borne by you will be reimbursed within 14 days.
  • The policy where’s the group payment floors if you are ready to pay a little more on the premium.
  • You can avail of tax benefits for the premium paid on this policy under section 80D of the income tax act.
  • The policy of a cumulative bonus of 5% to your limit of indemnity for every claim-free year.

2. New India Assurance Senior Citizen Mediclaim Policy

This senior citizen mediclaim policy is one of the most popular health insurance policies offered by New India assurance. The policy takes care of all hospitalization expenses for your parents including pre and post-hospitalization costs.

Coverage offered

  • Pre- and post-hospitalization expenses for a maximum of 30 days and 60 days of hospitalization respectively.
  • Hospitalization costs for injuries and illnesses
  • Ambulance charges

Benefits offered under the policy

  • The policy covers pre-existing illnesses like diabetes mellitus, hypertension, etc at just a small amount of additional premium cost.
  • If you renew the policy without a break, you can avail benefits of the cover until the age of 90.
  • Once you complete 4 claim-free years will be reimbursed the cost of the prescribed pre-acceptance health check.
  • You are eligible to get an income tax benefit for the premium you pay on this policy.

3. Oriental insurance HOPE plan

Oriental insurance HOPE- Health of Privileged Elders is a policy designed specifically for people above the age of 60. The policy offers a wide range of cover which also includes specified diseases.

Coverage offered

The policy offers wide medical coverage for situations like-

  • Accidental injuries
  • Knee replacement surgeries
  • Cancer
  • Cardiovascular diseases
  • Chronic obstructive lung disease etc.
  • All ICU and room charges and also nursing expenses are covered under the policy.
  • The policy covers emergency ambulance charges for anaesthesia, oxygen, operation theatre, doctors’, surgeons, surgical appliances, etc.
  • The policy also covers the costs of medicines, artificial limbs, prosthetic devices, and diagnostic tests.

Benefits offered under this policy

  • The policy covers all costs of domiciliary hospitalization.
  • It offers discounts on premiums on voluntary co-payment.
  • The policy offers cashless services through third-party administrators up to Rs 1 lakh.
  • The policy also reimburses you for the cost of health check-up’s after 4 consistent claim-free years.

4. United India Senior Citizen Health Insurance Plan

This policy offering from United India covers various costs of hospitalization, ICU, surgeries, consultation, and nursing. It comes with a free look period of 15 days and those in the age range of 61 to 80 years are eligible to be covered under the policy.

Coverage offered

  • The policy covers pre and post-hospitalization expenses before up to 30 days and after 60 days of hospitalization respectively.
  • Covers all the expenses related to specialist doctors, anaesthetists, and consultants’ fees.
  • The policy covers all expenses related to ICU, dialysis, radiotherapy, and prosthetic devices like cardiac valve replacement, pacemakers, vascular stents, etc
  • It covers chemotherapy and also for diagnostic tests like X-rays.

Benefits offered under this policy

  • This insurance covers treatments of hysterectomy, cataract, and hernia.
  • The insurance also covers day-care procedures provided the hospitalization lasts 424 hours.
  • It provides cashless claims at listed hospitals across India.
  • You can avail of a 5% family discount on the overall premium if you include one or more family members such as dependent children or spouses.

5. Star Health Insurance Senior Citizens Red Carpet

Star health insurance offers this red-carpet policy for individuals aged between 60 to 75 years and covers all medical expenses.

Coverage offered

  • The policy offers coverage for all medical expenses including ICU and nursing expenses.
  • The policy also covers expenses like anesthetics fees, emergency ambulance charges, surgeons fee consultation free up to 25% of the sum insured.

Benefits offered under this policy

  • This policy offers you the benefit of portability to another insurance provider.
  • You are paid a lump sum amount for the post-hospitalization expenses you incurred.
  • The claim settlement under this policy is quick and completely hassle-free.
  • You can avail of the benefit of cashless hospitalization at any of the hospitals listed under the insurer.

6. Care Freedom Plan

This insurance policy from Care Health Insurance Company offers a wide range of medical coverage without any pre-policy medical check-up’s.

Coverage offered

The policy offers complete coverage for all hospitalization expenses, day care treatments, pre and posts8 hospitalization expenses, and domiciliary care expenses

Benefits offered under this policy

  • The policy offers cashless hospitalization at over 8350+ hospitals across India
  • There are three policy term options available for 1, 2, and 3 years respectively.
  • You have the benefit of availing of an annual health check-up irrespective of your claim’s history.
  • The plan also offers dialysis covered at a fixed amount per sitting for up to 2 years.

If the health of your parents and family is of prime importance to you, you must invest in a health insurance policy. As there are plenty of options available in health insurance for parents. Compare the terms, conditions, premium rates, and tenure of different policies and choose the one that suits your and your family’s needs.

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Health Insurance

What is an Arogya Insurance Card?

What is an Arogya Insurance Card?

We know that fixed deposits are utilized for investing our extra savings, but now a fixed deposit can also be utilized to acquire health benefits. Arogya insurance card is an initiative under Ayushman Yojana where a beneficiary can enjoy cashless hospitalization provided, he/she owns a fixed deposit. This card is specially introduced for senior citizens by the KVB in association with the Vidal Health Insurance Third Party Administrator. It can be useful especially during emergency hospitalization for heart attacks, strokes, etc. Let’s dive deeper into this subject and understand its criteria, application, claim process, and also its benefits.

Criteria

Any senior citizen who wishes to apply for an Arogya insurance card must fulfill the following conditions

  • They must have a savings account in a bank.
  • They must have a new or existing term deposit of Rs 1 Lakh or above for 1 year or more.

How to apply for an Arogya Insurance Card?

1. To place a request for an Arogya insurance card, you have to sign and submit an application form.
2. You can generate this form from the FRS utility once a lien is marked on your fixed deposit.
3. Upon verification of the submitted form and the necessary documents, if you are found eligible, you will be given the Arogya insurance card.

Benefits

The policy excludes you from paying any pre-closure charges if you choose to close the fixed deposit linked with the Arogya insurance card before the due date.

  • You will avail of 5-20% discounts on hospitalization and also preferential pricing for expensive treatments.
  • You can also get 24/7 access to doctors on the phone for any queries or emergencies.
  • If you choose to get treatment at a hospital that is listed under your provider, you can get an extra 5-10% discount.
  • Get free telephonic consultation with top specialists in the medical industry.
  • If you want a second opinion before hospitalization, the Arogya insurance card covers this consultation fee.
  • Receive expert counselling services, health tips, and monthly newsletters via your email.
  • Get information about various hospitals like their treatment costs, available doctors, post-hospitalization services, etc. through your provider. Moreover, your provider will also guide you in selecting the appropriate doctors and hospitals so that you can get the best treatment.

Some important points to note

  • In case of hospitalization, you can use the Arogya insurance card to get a 90% overdraft on the fixed deposit for settlement of the hospital bill.
  • You will be charged an extra 2% interest rate above the contracted rate of interest for the fixed deposit in case of an overdraft.
  • You can continue your fixed deposit after you have repaid the availed overdraft.
  • If you wish to pre-close the deposit attached with the Arogya insurance card, you need to first close the overdraft linked to the term deposit, if any.
  • Only after this step can you close your deposit provided you submit your Arogya insurance card to the provider.


With a wide variety of medical benefits and protection against future health emergencies, an Arogya insurance card is a must-have for every senior citizen. However, It’s necessary that before getting the card, one should go through all the terms and conditions thoroughly in order to avoid any hassle or inconvenience in the future.

 

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Health Insurance by LIC (Top Plans, Features and Benefits)

Health Insurance by LIC (Top Plans, Features and Benefits)

Life Insurance Corporation of India (LIC) is predominantly known as India’s largest Life Insurance company. That being said, it is a little-known fact that LIC also provides 3 Health Insurance Plans. They are:

  • LIC Health Protection Plus (Withdrawn)
  • LIC JEEVAN AROGYA
  • LIC Cancer Cover

Let us understand each of these plans so that you can choose the most relevant plan for your needs.

Health Insurance by LIC

LIC Jeevan Arogya

The LIC Jeevan Arogya plan is LIC’s primary health insurance plan for Indians. The plan is a non unit-linked health insurance policy that covers the policyholder and his family against hospitalization expenses.

Eligibility

  • The maximum entry age for self/spouse is 65 years
  • The maximum entry age for parents/in-laws is 75 years
  • The maximum entry age for children is 17 years

LIC Jeevan Arogya Benefits

The policy will provide the following benefits:

  • Hospital cash benefit
  • Major surgical benefit
  • Day care procedures
  • Other surgical benefit
  • Ambulance
  • Premium waiver

Let us understand each of the benefits of the LIC Jeevan Arogya Plan in detail.

Hospital cash benefit

The hospital cash benefit (HCB) is the most important aspect of the Jeevan Arogya policy. Understanding HCB is critical if you want to understand your policy. The HCB is the amount of hospitalization cash that you will get every day in case of hospitalization in your family. There are 4 HCB amounts that you can choose from:

  • Rs 1,000/Day
  • Rs 2,000/Day
  • Rs 3,000/Day
  • Rs 4,000/Day

They higher the HCB you choose, the higher the benefit and the higher the premium you have to pay.

Major surgical benefit

If there is a requirement for a major surgical intervention during the policy tenure, the policyholder will be entitled to receiving 100 times his HCB amount as a benefit. So if a policyholder has selected the HCB of Rs 1,000 a day, he will be entitled to Rs 1 Lakh as a surgical benefit. Similarly, if the holder has an HCB of Rs. 4000 a day, he will be entitled to Rs 4 lacs as a surgical benefit.
It is also important to note that the major surgeries are classified into 4 categories and the benefits are according to each category.

Type of Surgery and HCB to be paid

  • Category 1 – 100% of HCB
  • Category 2 – 60% of HCB
  • Category 3 – 40% of HCB
  • Category 4 – 20% of HCB

So for instance, a policyholder having an HCB of 1000/day gets admitted to the hospital for a Category 2 surgery, he will be eligible to get a benefit of 60% of 1 lac, i.e Rs. 60,000.
In another example, let’s say a policyholder having an HCB of 1000/day gets admitted to the hospital for a Category 1 surgery, he will be eligible to get a benefit of 100% of 1 lac, i.e Rs 1 lac.

Day care procedures

This policy also provides coverage for Day Care procedures. A Day Care procedure is any treatment that does not require prolonged hospitalization. Examples of Day Care treatment would be dialysis, chemotherapy, tonsillectomy, etc. This is where the treatment does not need hospitalization for over 24 hours.

LIC Jeevan Arogya policy provides coverage of 5 times the HCB amount. So, if your HCB amount is Rs 1,000, your eligible Day Care amount would be Rs 5,000.

Other surgical benefits

If the policyholder or his family gets admitted for surgery that is excluded from the Major Surgical Categories, he/she will be eligible for twice the HCB/day.

Ambulance charge

Ambulance charge up to a maximum amount of Rs. 1,000 is eligible to the policyholder.

NCB benefit

For every claim-free year the HCB will be increased by 5%.

Premium waver

If the policyholder gets admitted for a Category 1/Category 2 surgery, he/she is eligible for the next year’s premium to be waived off. This could provide much-needed financial relief to the holder.

Quick cash benefit

The policyholder can choose to claim 50% of his MCB amount while in the hospital itself, in the event of a Category 1 or 2 surgery.

 

LIC Jeevan Arogya Premium

Check out the premium chart for LIC Jeevan Aroyga below.

LIC jeevan aroyga premium chart
LIC Jeevan Aroyga premium chart

 

LIC Jeevan Arogya riders

LIC also provides 2 Riders that the policyholder can avail. A Rider is an additional clause that the holder can incorporated in his policy for an extra fee. Let us understand the 2 available Riders under LIC Jeevan Arogya.

Term assurance rider

If the policyholder decides to avail of the optional Term Assurance Rider, he will be eligible towards a maturity or death benefit equal to his Major Surgical Benefit (MSB). So, if his MSB is Rs 2 lacs, he will be getting Rs 2 lacs on policy maturity or death.

Accident benefit rider

This is where the holder can avail of accidental coverage by paying an additional premium. Coverage will be similar to the Term Assurance Rider.

Policy Exclusions

Following disorders are excluded under this policy:

  • Pre-existing disorders (unless agreed by LIC)
  • Epidemics
  • Experimental treatments
  • Cosmetic treatments
  • Circumcision
  • Congenital anomalies
  • Dental treatment
  • Self-afflicted injuries
  • Damage caused due to War, revolutions and invasions, acts of god like earthquakes, volcanic eruptions and avalanches
  • Damage caused due to illegal activities and adventure sports
  • Nuclear damage

LIC cancer cover

This is LIC’s cancer coverage policy. People looking to cover themselves and their families against the growing risk of cancer can avail of this policy. The policy has 2 variants:

  • Option 1
  • Option 2

Option 1 (Level Sum Insured)

The sum insured will remain the same throughout the duration of the policy. If you choose to buy a policy of 5 lakhs, the cover will remain 5 lakhs throughout the policy term.

Option 2 (Increasing Sum Insured)

Under Option 2, the policyholder will be eligible to receive a No claim bonus of 10% (on sum insured) for every year (up till 5 years).

Apart from difference in sum insured, the rest of the policy terms are the same. Let us discuss about the rest of the policy terms below:

Eligibility

  • Maximum entry age – 65 years
  • Minimum policy term – 10 years
  • Maximum policy term – 30 years
  • Minimum sum insured – Rs 10 Lakhs
  • Maximum sum insured – Rs 50 Lakhs

LIC cancer cover benefits

Benefits of the policy include the following:

  • Coverage of early stage cancers
  • Coverage of major stage cancers

Coverage of early and major stage cancers

Following early and major stage cancers are covered under this policy:

  • Carcinoma-in-situ (CIS)
  • Thyroid Cancer
  • Bladder Cancer
  • Prostate Cancer
  • Chronic Lymphocytic Leukemia
  • Cervical Intraepithelial Neoplasia

Waiting Period

The assured will have to wait for 180 days from the date of policy issuance for the policy benefits to get initiated. No benefits will be payable to the policyholder if there is hospitalization within 180 days of policy issuance.

LIC cancer cover premium

Exclusions

Following disorders are excluded under this policy:

  • Pre-existing conditions
  • Any sickness occurring within 180 days of policy issuance
  • Tumors caused due to HIV/AIDS
  • Benign or low malignant tumors
  • Dysplasia
  • Intra-epithelial neoplasia
  • CIN-1, CIN -2 and CIN-3
  • Non-melanoma skin carcinoma
  • Chronic lymphocytic leukemia (less than RAI stage 3)
  • Gastro-Intestinal Stromal Tumors (classified as T1N0M0 or below and with having a mitotic count of less than or equal to 5/50 HPFs)
  • T1N0M0 categorized Thyroid Cancers
  • Conditions caused due to nuclear contamination

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Health Insurance

MD India Health Insurance TPA Pvt Ltd

MD India Health Insurance TPA Pvt Ltd (Learn about the company)

MD India Health Insurance TPA Pvt Ltd is an Indian TPA company that provides claims management, medical management, enrollment, customer support, and related services in the insurance sector. The company was incorporated in November 2000 and currently has various offices across the country.

This content piece will be discussing some of the important aspects related to MD India Health Insurance. They are:

  • Company details
  • Company management
  • Company services
  • Claim intimation and tracking
  • Downloading E-Card
  • Contact details

Company details

Company name

MD India Health Insurance TPA Pvt. Ltd.

Date of incorporation

2000

Registration number

15558

Authorized capital

Rs.5 crore

Paid up capital

Rs.4.3 crores

Registered address

S.No 46/1, E-space, A2 Building, 3rd Floor, Pune-Nagar Road, Vadgaon Sheri, Pune, Maharashtra- 411014.

Email

bnagawade@mdindia.com

CEO

Mr. Suresh V. Karandikar

Company management

Name

Designation

Linkedin

Mr. Brij Sharma

Chairman

https://www.linkedin.com/in/brij-sharma-b3b83

Mr. Suresh V. Karandikar

CEO

https://in.linkedin.com/in/suresh-karandikar-b3ba973a

Mr. Rajnish Sharma

Managing Director

https://in.linkedin.com/in/rajnish-sharma-32574315

Mr. Praveen Yadav

Chief Administrative Officer

https://in.linkedin.com/in/praveen-yadav-6bb3683b

Company services

MD India Health Insurance is a TPA company that provides the following services to its clients:

  • Handing enrollment and admissions
  • Claims acceptance and handling
  • Providing health cards to policyholders
  • Providing 24×7 customer support to policyholders
  • Handling cashless hospitalization
  • Act as a link between the insurance company and hospital
  • Handling policyholder grievances
  • Investigation and fraud detection

Claim intimation and tracking

Claim intimation

Policyholders can either intimate their insurance agent, their insurance company or directly intimate MD India Health Insurance TPA directly through their online claim intimation portal.

Step 1: Go to their online claim intimation page

You can go to their claim intimation page here.

Step 2: Enter your details

MD India health insurance TPA online claim intimation
MD India health insurance TPA online claim intimation

Here, you will need to fill in the requisite details accurately. Enter your insurance company, policy number, name, contact number, city, hospital details, etc. Once you have entered the details press “Submit”. Post this, you should receive a call from the company shortly.

Claim tracking

You can also track your claims through their claims tracking page.

Step 1: Visit the claims tracking page

Go to their claims tracking page here.

Step 2: Enter your policy details and press “Search”

 insurance tpa claim tracking
insurance tpa claim tracking

Downloading E-Card

Policyholders can also download their health insurance E-Card online. This card can be used during hospitalizations.

Step 1: Visit the online card request page

Go to their card request page by clicking here.

Step 2: Select your “Customer Type” and “Insurance Company”

MD India health insurance tpa online card request
MD India health insurance tpa online card request

Step 3: Fill in the rest of the details and press “Request ID Card”

MD India health insurance tpa online card request 2
MD India health insurance tpa online card request 2

Contact details

Department

Toll-Free Number

Email ID

Non-Cashless (Conventional Claim)

1800 209 7777

customercare@mdindia.com

Cashless

1800 209 7800

authorisation@mdindia.com

LIC

1800 209 7600

customercare@mdindia.com

Grievance

020 25300128 / 7030949754

grievance@mdindia.com

Are you looking for a new Royal Sundaram Insurance policy or a policy renewal? Reach out to us and let us assist you.

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Categories
Royal Sundaram Health Insurance

Royal Sundaram Insurance Renewal (Learn how to renew your policy)

Royal Sundaram Insurance Renewal (Learn how to renew your policy)

You can renew your Royal Sundaram insurance policy online through the company’s Insta-Renew option. The process is seamless and hassle free, and you can renew your policy at the comfort of your home or office.
Let us understand this simple renewal process and walk you through it step by step.

Renew your Royal Sundaram policy online

Step 1: Visit the Royal Sundaram General Insurance Website

 

Royal Sundaram homepage
Royal Sundaram homepage

First, visit their website by entering https://www.royalsundaram.in/ into your preferred web browser (Chrome, Firefox, etc). You can also directly visit their website by clicking here.

Step 2: Click on “Insta Renew” on the top right hand side

Royal Sundaram homepage
Royal Sundaram homepage

Clicking on “Insta Renew” will take you to their instant renewal page.

 

Step 3: Select your policy type, phone number / policy number and press on “Generate OTP”

Royal Sundaram Insta Renew page
Royal Sundaram Insta Renew page


Step 4: Verify your policy details

Ensure that you verify your policy details like premium amount, term, coverage, no-claim bonus, etc. Once verified, move forward towards making your renewal payment.

Step 5: Make renewal payment

Double check on the renewal payment terms once more and make the payment. Payment can be made through credit/debit cards and net banking.

Step 6: Get policy copy

You will now shortly get a copy of your renewed policy in your registered email ID. Please keep it safe for any future use.

Renew your policy offline

You can also renew your policy using the traditional offline method. Kindly contact your insurance agent and hand over the renewal check to him. Alternatively, you can also directly contact the company through their toll-free number (1860 258 0000 / 1860 425 0000) and arrange for a check pickup or NEFT transfer.

You can also visit your nearest branch and make a payment directly. Find out your branch using our Royal Sundaram Branch Locator tool.

Are you looking for a new Royal Sundaram Insurance policy or a policy renewal? Reach out to us and let us assist you.

Enter your details

Categories
Health Insurance

Royal Sundaram Health Insurance

A Royal Sundaram Advert

Royal Sundaram Health Insurance

Royal Sundaram Health Insurance is the first private general insurance company in the country. The company comprises of a host of general insurance products ranging from health, motor, home, travel, business, etc.

The company has a very good foothold in the Indian general insurance sector with over 45 lakh clients Pan-India. Royal Sundaram is also highly acclaimed with numerous Celent Model Awards won for their performance in the insurance sector. The company has over two thousand employees across 153 branches across India.


This article will aim to discuss some of the following important aspects pertaining to Royal Sundaram Health insurance:

  • Company management
  • Insurance related facts
  • Health insurance plans
  • Policy status
  • Customer care

Company management

Name

Designation

Linkedin

Mr. S. Viji

Chairman

NA

Mr. T. T. Srinivasaraghavan

Director

NA

Mr. Gary Crist

Director

https://hk.linkedin.com/in/gary-crist-6651b6163

 

Mr. Harsha Viji

Director

https://in.linkedin.com/in/harshaviji

 

Mr. Mr. Filip Coremans

Director

https://be.linkedin.com/in/filip-coremans-2548a333

 

Mr. Mr. M. S. Sundara Rajan

Director

https://in.linkedin.com/in/rajansundara

 

Mr. Mr. M. S. Sreedhar

Managing Director

NA

Insurance related facts

Particulars

Stats

Claim settlement ratio

81%

Policies written

45 Lakhs

Cashless facility

Yes

Network hospitals

5000+

Lifetime renewal

Yes

Day Care procedures

200+

Sum restoration

100%

Health Insurance Plans

Royal Sundaram Health Insurance provides two broad health insurance plans. They are the Lifeline Health Insurance Plan and the Family Plus Insurance Plan. There are further classifications within the two plans. Let us discuss about the plans briefly.

Royal Sundaram Lifeline Plan

The Royal Sundaram Lifeline Plan is a comprehensive health insurance plan that provides indemnity to the policyholder. You can take the plan as an individual plan or as a family floater plan. The plan comes in four variants:

  • Lifeline
  • Lifeline Classic
  • Lifeline Supreme
  • Lifeline Elite

All of the above plans are similar with minor tweaks in certain areas. You can have a detailed look at each of the above plans by checking their respective product brochures (Linked below)

Features

Minimum age of 18 to buy this plan

No maximum entry age

Individual and floater plans available

Initial waiting period of 30 days

Initial waiting period for critical sickness is 90 days

Waiting period of 24-48 months for pre-existing conditions

 

Benefits

100% sum insured

No capping on room rent

Ayush treatment covered

No-claim bonus

Domiciliary hospitalization

Rabies vaccination covered

Cover restoration benefit

Free health check-up

Daily cash allowance

Pre and post hospitalization expenses

Organ donor expenses covered

Second opinion covered (for critical illness)

Cashless claims (only through network hospitals)

Day care covered

Ambulance cost covered

Royal Sundaram Family Plus Plan

This is a family friendly insurance policy for large families. The policy provides coverage for over 19 different family relations.

Features

Minimum age of 18 to buy this plan

No maximum entry age

Individual and floater plans available

Initial waiting period of 30 days

Initial waiting period for critical sickness is 90 days

Waiting period of 24-48 months for pre-existing conditions

 

Benefits

Coverage for 19 different kind of family members under a single policy

Maternity coverage

No-claim bonus

Domiciliary hospitalization

Rabies vaccination covered

Cover restoration benefit

Free health check-up

Daily cash allowance

Pre and post hospitalization expenses

Organ donor expenses covered

Second opinion covered (for critical illness)

Cashless claims (only through network hospitals)

Day care covered

Ambulance cost covered

Policy status

It is important to validate your insurance policy and assure that the policy is linked with the company. You can validate the status of your royal sundaram health insurance policy by visiting their policy verification page.
Just select the product type, enter your insurance policy number and press on “Validate”

royal sundaram policy status checker
royal sundaram policy status checker

Are you looking for a new Royal Sundaram Insurance policy or a policy renewal? Reach out to us and let us assist you.

Enter your details