Health Insurance Plans and Mediclaim Policies

Health Insurance is an insurance plan that provides comprehensive coverage against medical expenses, hospital bills, and other costs related to medical treatments. It protects the insured person against the financial risks that come with an illness or accidental injury.

With our Health Insurance policy, you enjoy coverage for pre and post hospitalisation expenses for up to 60 and 90 days, respectively. The policy also covers in-hospital expenses, ambulance charges, room rent and boarding expenses. You can avail cashless treatment at over 6,500+ hospitals across India. We also cover medical examinations, physician fees/doctor’s consultation fees and ambulance charges, leaving you totally stress-free!

If you want a quick and hassle-free purchase, buying online is the way to go. We are here to help you to buy Health Insurance easily and efficiently. Our multiple payment options will further ease your payment woes. Your medical insurance policy is issued online, which saves you the effort of ever carrying a hard copy. All these factors, along with proactive customer support, makes buying Health Insurance policy online a better alternative.

Life insurance is a great investment and death cover option but it won’t come in handy to pay rising medical bills. A Health Insurance cover is a solution to deal with hospitalisation and pay heavy medical expenses, should they arise. So, a Health Insurance plan is your cover against unexpected health-related costs that may threaten to deplete your savings.

The Health Insurance premium amount mainly depends on the sum insured and the number of members covered under the Health Insurance policy. Here are a few other factors that determine your Health Insurance premium:

• Your age
• Pre-existing diseases
• Add-on covers (optional)

Apart from the fact that we are an award-winning health insurance provider, Bajaj General Insurance’s goodwill is steeped in safeguarding your precious time and hard-earned money.
We have proven our commitment to this cause by ensuring that our average claim settlement time is around 1 hour. This period of 60 minutes is one of the fastest claim settlement durations in the health insurance industry.
Moreover, our pricing is competitive and loaded with all the latest features and best coverages. We make sure you get your money’s worth at every stage!
Here are a few features of our health insurance plans:

• More than 1.4 lakh health insurance claims processed successfully in 2015-16.
• Cashless claims facility at over 6,500+ hospitals across India.
• Cashless claim settlement within 60 minutes.
• 24*7 call assistance for claims settlement.
• In-house Health Administration Team.
• Maximum coverage at an affordable price.
• Easy to buy/renew online medical insurance policies.

Pre hospitalisation expense is as a result of tests, medication that would have to be undertaken prior to the hospitalisation for the treatment. Similarly, post hospitalisation expenses can be for recovery and medicines that need to be taken post the hospitalisation treatment. Pre and post hospitalisation are 60 and 90 days respectively.
When you fall sick, you usually consult your family physician and get relevant investigations done. On the advice of your physician, you get hospitalised for further treatment of the disease if required. These medical expenses incurred before hospitalisation are called pre hospitalisation expenses.
Post hospitalisation expenses include all expenses or charges incurred by you after you are discharged or after hospitalisation treatment is done. For example, the consulting physician may prescribe certain tests to ascertain your progress or recovery after surgery.

A deductible is a fixed amount that you have to pay at the time of claim that will not be reimbursed. At the time of settlement, we will pay the claim amount minus the deductible.

Daycare treatments are such medical procedures (surgeries or treatments) that can be completed in less than 24 hours. In such cases, even though you may be hospitalised, you don’t have to stay in the hospital for more than 24 hours.

Pre-existing diseases are those you may already know the existence of in your life before you buy a medical insurance policy. Hence, you must declare any pre-existing disease/condition at the time of buying a medical insurance plan.
One of the key factors to keep in mind is that the pre-existing diseases have a waiting period (which differs from company to company). Hence, by taking a policy at a young age you can only 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, you can ensure that you are eligible to avail full benefits of your medical insurance policy.

Bajaj General Insurance Health Insurance policy helps you save tax up to Rs 1 lakh under Section 80D against the premiums you pay. Here’s how you can save tax:
On the premiums you pay for yourself, your spouse, children and parents, you can avail Rs 25,000 per annum as a deduction against your taxes (provided you are not over 60 years). 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 Rs 50,000. As a taxpayer, you may, therefore, maximise tax benefit under Section 80D up to a total of Rs 75,000, if you are below 60 years of age and your parents are senior citizens. 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, then, Rs 1 lakh.

Your coverage amount depends on your lifestyle, medical background, pre-existing diseases, members of your family, annual income, residential address and age.

For senior citizens, a medical check-up is required prior to buying insurance. A valid identity card, address proof, age proof and passport size photo are required for all policyholders.
Age proof: Birth certificate, Passport, Driver’s License, Voter ID card.
ID proof: Driving license, Passport, PAN card, Aadhaar card
Address proof: Electricity bill, Telephone bill, Ration card, Passport, Aadhaar card.

Yes, you can cancel your Health Insurance policy. We provide a free period of 15 days from the date of policy issuance within that you can cancel the policy and avail a refund if you are not satisfied with it. However, your refund will be adjusted against any expenses incurred such as underwriting costs, medical check-ups and so on.

The Health Administration Team (HAT) comprises of doctors and paramedics who are responsible for health underwriting and claims settlement. It is a single window assistance for healthcare related  services. This in-house team resolves issues related to health insurance customers. The team ensures faster claim settlement as a single point of contact. It is effective for quick resolution of customer queries by health insurance experts. It also controls claim settlements and customer service, given its in-house capabilities.

After your claim is filed and settled, your insurance cover will be reduced by the amount that has already been paid to you. For example, if your policy was issued in January with a Rs 5 lakh coverage and if you claimed an amount of Rs 3 lakh in July, then a balance of Rs 2 lakh is available to you between August-December.

You can make the premium payment using the following modes:

• Cheque or cash payment at our branch.
• ECS
• Online payment – Debit/credit card and net banking.

You can check the status of your policy online. Log onto our website with your user ID and password and enter the details of your policy – policy number, etc to check the status. Alternately, you can download our ‘customer portal’ app and check your policy status.

Mediclaim policy only provides cover against hospitalisation and treatment expenses for a defined pre-specified illness as per the sum insured. Health Insurance policy covers pre and post hospitalisation expenses.