Health Insurance
In our day to day lives, we are exposed to many unforeseen risks associated either with accidents or illnesses. Medical costs are becoming increasingly expensive. The cost of an artery bypass surgery is upwards of INR two to three lakhs. Cancer treatment would cost anywhere between INR two lakhs to five million. In such contingency even among the upper middle class, a lot of people have to sell their valuable assets to meet the medical expenses. Other expenses like travel, lodging, loss of income account for as much as 35% of the overall cost of treatment. Most of us ignore this fact.
While many of us insure our homes, vehicles, children’s education etc., we do not often insure our health! The fact that any illness can strike us without warning and eat up our savings should not be overlooked. Thus with the ever increasing costs associated with Hospitalization, it can mean a drain on your precious savings and making life unstable for self and family.
The policy is meant to cover Hospitalization Expenses incurred by the members of an organization in case they happen to suffer from a disease or sustain an accidental injury, the following Hospitalization expenses will be paid under following heads:
- Room, Boarding and Nursing Expense.
- Medical Practitioner/ Anaesthetist, Consultant fees, fees of surgeon
- Expenses on Anaesthesia, Blood, Oxygen, Operation Theatre, Surgical Appliances, Medicines and Drugs, Diagnostic Materials and X-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, Artificial Limbs, Cost of Organ and similar expenses
- Expenses on Vitamins and Tonics only if forming part of treatment as certified by the attending Medical Practitioner.
- The relevant expenses incurred for Domiciliary Hospitalisation
- An additional Daily Allowance for the duration of Hospitalisation towards defraying of miscellaneous expenses.
- Ambulance charges in connection with any admissible claim limited
- Admissible day care treatment (less than 24 hrs hospitalization), pre and post hospitalization
- Cost of Health Check up – Reimbursement of cost of medical check-up once at the end of a block of every four continuous claim free policy years, subject to maximum of 1% of the average sum insured during the period
- Other admissible expenses.
- This policy will trigger when there is minimum 24 hours hospitalisation.
- The hospital where treatment is taken should have minimum 15 beds.
- The policy holder can avail cashless facility for the treatment taken or he may go for reimbursement of expenses incurred.
The basic cover can be enhanced by opting for Add-on covers by paying an extra premium and such Add-on covers are as below:
- Waiver for Pre-existing diseases.
- Waiver for first 30 days exclusion.
- Waiver for first year / first two years / first four years exclusion.
- Maternity Benefits and New Born Baby cover from day one.
- Corporate Buffer.
- Dependents of Employees can also be covered including the extension of covering parents
- There can also be a single Family Floater Limit rather than an individual limit per member
This policy is a very good tool to for an organization to ensure that their employees are fully covered to meet any sort of medical emergency.
We strive to use an innovative approach to develop group health insurance products that cut costs while maintaining superior coverage. Health Insurance Package is tailored specifically to fit the requirement of your group.
With increased population, there is more and more pollution and as a result, people are exposed to a greater risk of suffering from Diseases. Increased population also results in to more vehicular traffic and more accidents. Treatment costs are increasing day by day. Therefore it has become essential to take a Mediclaim Insurance policy to cater such emergencies.
If the Insured Person sustains any Injury or contracts any Disease and if medically necessary, he/she has to incur Hospitalisation expenses, then Reasonable and Customary Charges of the following Hospitalisation expenses will be paid
- Room, Boarding and Nursing Expense.
- Medical Practitioner/ Anaesthetist, Consultant fees, fees of surgeon
- Expenses on Anaesthesia, Blood, Oxygen, Operation Theatre, Surgical Appliances, Medicines and Drugs, Diagnostic Materials and X-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, Artificial Limbs, Cost of Organ and similar expenses
- Expenses on Vitamins and Tonics only if forming part of treatment as certified by the attending Medical Practitioner.
- The relevant expenses incurred for Domiciliary Hospitalisation
- An additional Daily Allowance for the duration of Hospitalisation towards defraying of miscellaneous expenses.
- Ambulance charges in connection with any admissible claim limited
- Admissible day care treatment (less than 24 hrs hospitalization), pre and post hospitalization
- Cost of Health Check up – Reimbursement of cost of medical check up once at the end of a block of every four continuous claim free policy years, subject to maximum of 1% of the average sum insured during the period
- Other admissible expenses.
- This policy will trigger when there is minimum 24 hours hospitalisation.
- The hospital where treatment is taken should have minimum 15 beds.
- The policy holder can avail cashless facility for the treatment taken or he may go for reimbursement of expenses incurred.
Normally the policy does not cover:
- Treatment of Pre-existing Diseases for a specified period.
- Any expense during the first 30 days from the inception of first policy except the treatment related to an accident.
- Expenses on Treatment of certain diseases are not payable up to a specified period.
This premium paid for this policy can be claimed for deduction under section 80-D of Income Tax Act up to Rs 25,000/-
Each one of us in our day to day life is exposed to risks of accidents, though exposure to some is more than the others. Besides the man made risks, the natural hazards like lightning, flood, earthquake etc. are equally responsible for accidents.
Personal Accident Insurance has been designed for individual or members of various groups to provide compensation or financial assistance in case one suffers from Death or Disability due to some External, Accidental and Violent means.
Scope of Cover:
The Policy provides for payment of fixed amount (benefit) on happening of specified contingency caused by External, Accidental and Violent means. An accident may include events like:
- Rail, road, air accident
- Injury due to any collision / fall
- Injury due to bursting of gas cylinder
- Snake bite.
- Burn injury, drowning, poisoning, etc.
This is only an illustrative list, not an exhaustive list.
Summary of Benefits:
Contingency Amount of Compensation
1) Death 100% of Capital Sum Insured
2) Loss of two limbs, two eyes,
or one limb & one eye 100% of Capital Sum Insured
3) Loss of one limb or one eye 50% of Capital Sum Insured
4) Permanent Total Disablement from
Injuries other than those name above 100% of Capital Sum Insured
(PTD)
5) Permanent Partial Disablement (PPD) Specific % of Capital Sum Insured
6) Temporary Total Disablement (TTD) 1% of Capital Sum Insured per week.
The coverage is world-wide.
The capital sum insured to be opted depends on the annual income of the particular person.
The best part of this policy is that it compensates the amount of salary for that particular period when the insured person is temporarily confined due to some accident and is not able to attend his occupation / profession.
The essential part of an organization is human beings. As a part of HR policy, many organizations take a Group Personal Accident Insurance cover to seek protection to their employees.
Nowadays accidents are a matter of common occurrence and can cause Death or Disablement. An Insurance coverage would be essentially required to provide protection to the members of an organization. A Group Personal Accident Policy is an ideal solution for this.
In an increasingly competitive business scenario, every organization has to prepare for the unexpected. It applies not just to the area you operate in, but also to your employees. After all, no one can afford to lose people, whether to illness, Accidents or demotivation. Bodily injury of the bread earner resulting in death or disablement may create havoc to the dependents and family members.
Coverage:
The policy has been designed to provide compensation in the event of the insured person sustaining injuries, solely and directly from an Accident Caused by Violent, Visible and External means, resulting into
- Death,
- Permanent Total Disablement (PTD),
- Permanent Partial Disablement (PPD)
- Temporary Total Disablement (TTD).
- Medical Expenses Cover ( OPD & IPD)
The coverage is Worldwide.
The policy provides for payment of specified amount (benefit) on happening of specified contingency due to the accident. An Accident may include events like:
- Rail, Road, Air Accident
- Injury due to any collision / fall
- Injury due to bursting of gas cylinder
- Snake bite, Frost bite
- Burn injury, Drowning, Poisoning, etc.
This is only an illustrative list, not an exhaustive list.
The proposer can either opt for a basic cover for Death only for which the premium is minimum or one can take an upgraded cover to include Permanent Total Disablement / Permanent Partial Disablement / Temporary Total Disablement/ Medical Expenses Cover.
We can even customize the product by incorporating coverage for Loan Protection, Child Education Support, etc.
