What are the Benefits of Bajaj Allianz Health Insurance?
Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE, a European-based finance organisation. Bajaj Allianz offers multiple health plans for senior citizens, individuals, family plans, etc. From offering comprehensive coverage to 100% sum restoration, the benefits offered by the plans are many.
In this article, we will explain to you all the benefits offered by Bajaj Allianz Health Insurance.
Benefits of Bajaj Allianz Health Insurance
Following are the benefits of the health plans offered by the company:
- Comprehensive Coverage: Health insurance plans by Bajaj Allianz offer extensive coverage that offers a broad spectrum of protection. Their health plans cover hospitalisation, domiciliary expenses, multiple daycare treatments, ambulance charges, and so on.
- Cumulative Bonus: Bajaj Allianz health plans provide the benefit of a cumulative bonus that increases your sum insured as a reward for claim-free years. The cumulative bonus offered in the health plans ranges anywhere from 10% to 100% of the sum insured.
- Ayush Coverage: Health plans offer coverage for AYUSH treatments that include Ayurveda, Unnani, Siddha, homoeopathy, and so on. Ayush coverage is provided to offer an extra cushion of safety to the policyholder in case of medical contingencies.
- Cashless Treatment: Bajaj Allianz offers cashless facilities to its policyholders at their network hospitals across India. In a cashless facility, the insurer will directly settle the medical bills with the hospital without pinching a hole in the policyholder’s pocket.
- Daily Cash Allowance: This feature offers a daily cash allowance to the policyholder for a certain period of time. The insurance company provides a specified amount for every day of hospitalisation, compensating for the loss of income.
- Sum Restoration Benefit: Health plans offered by the company come with restoration benefits. This automatically replenishes your coverage up to the 100% sum insured once exhausted.
- Maternity Coverage: Multiple health plans also offer maternity coverage that covers delivery expenses, c-sections, newborn baby expenses, vaccinations, and much more.
- Tax Benefit: You can claim a tax deduction on premiums paid under Section 80D of the Income Tax Act.
- Critical Illness Treatment: Health plans by Bajaj Allianz offer critical illness coverage that is prolonged and fatal in nature. Life threatening illnesses like heart ailments, liver failure, cancers of varying intensity, and more will be covered. The company will offer a lump-sum payout as a form of compensation for treatments as well as other costs of medical support.
- Lifelong Renewability: This feature offers lifetime renewability, which allows the policyholder to renew their health insurance plan without any restriction on age. With this lifetime renewability feature, you can enjoy continued renewal for your entire life. Also, for senior citizens, this feature reduces any financial pressure in case of a medical emergency with a continued renewal of their health plan.
- Wellness Benefits: Wellness benefits like a concession in renewal fee, vouchers for supplements, boosters, free health checkup, and so is added as bonus in plan coverage. These wellness benefit offers the extra financial support to the insured and its family members.
Why choose Bajaj Allianz?
- Claim Settlement Ratio: The company has a robust claim settlement ratio of 96.59%, which indicates the company is dedicated to settling genuine claims in trying times.
- Network Hospitals: Bajaj Allianz Health Insurance has more than 8000+ network hospitals, which gives you a vast range of hospitals to choose from. You can avail of cashless treatment in these hospitals without worrying about paying the hospital bill from your pocket.
- Dedicated Customer Support: Bajaj Allianz provides 24/7 dedicated customer support to its policyholders at all times. The company also strives to settle claims within 15 working days from the date of registering the claim.
- Pre-Medical Test Not Needed: Most health policies offered by the company do not require individuals to undergo medical examinations before purchasing the policy.
Health Plans offered by Bajaj Allianz
Bajaj Allianz Health Guard Plan
Individual/Family Floater Plan
Bajaj Allianz Health Infinity Plan
Bajaj Allianz Critical Illness Plan
Bajaj Allianz Criti Care Plan
Bajaj Allianz Global Personal Guard Plan
Bajaj Allianz Extra Care Plus
Top Up/Family Floater Plan
Bajaj Allianz M Care Plan
Individual/Family Floater Plan
How long does it take for claim settlement with Bajaj Allianz?
It takes anywhere between 7-15 working days to settle claims.
How to buy Bajaj Allianz Health Plans?
You can visit the official website of Bajaj Allianz to buy the plans.
What are wellness additions in Bajaj Allianz Health Plans?
Wellness additions like concession in the renewal fee, vouchers for supplements, boosters, free health checkup, etc. are added as bonuses to the plan.
This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.