Compare Bajaj Allianz Individual Health Guard Plan

Allianz Individual-Health-Insurance

Bajaj Allianz Individual Health Guard Plan

Bajaj Allianz’s Individual Health Guard Plan is a comprehensive health insurance plan for an individual. High Sum Insured levels are allowed with the plan and the plan has a term of up to 3 years. The plan gives premium discounts and also has various Value Added Covers for an enhanced protection.

Key features of the plan

  • The plan comes in two variants of Gold and Silver.
  • No pre-entrance medical check-ups are required if the insured is up to 45 years.
  • A high coverage can be availed under the plan where the Sum Insured goes as high as Rs.50 lakhs
  • The plan also promises lifelong renewability.
  • Sum Insured reinstatement replenishes the Sum Insured if it is exhausted. Such a replenished Sum Insured can be used for paying treatment costs of the same illness.

How does the plan work?

Step 1 – the policyholder chooses the Sum Assured, the term of the plan and the plan variant.

Step 2 – the policyholder might also choose optional co-pay feature.

Step 3 – premium is calculated based on the Sum Insured, term, plan variant and the location of the insured.

Step 4- If the insured faces any medical contingency and the related expenses are covered by the plan the expenses incurred are paid by the plan.

Step 4 – if the plan matures and no medical contingencies occur, no benefit is paid.

Example

Vinit buys the Health Guard Individual Plan for a Sum Insured of Rs.5 lakhs. He chooses the gold variant for a term of 2 years.

Option 1 – Vinit undergoes treatment for Bariatric Surgery after 3 years of plan commencement. He is paid Rs.2.5 lakhs as claim.

Option 2 – Vinit is hospitalized for an accident, his medical bills are paid by the plan up to the chosen Sum Insured.

Option 3 – The first year of the plan comes to an end but Vinit does not make any claim. He gets a cumulative bonus of 10% increase in Sum Insured which becomes Rs.5.5 lakhs.

Plan benefits

  • Medical benefits – the list of medical expenses covered by the plan and their extent is as follows:
    Coverages Silver Plan
    Sum Insured Rs.1.5 or 2 lakhs
    Gold Plan
    Sum Insured Rs.3-50 lakhs
    In-patient hospitalization Covered Covered
    Room rent 1% of Sum Insured/day No sub-limits
    Day care treatments Covered Covered
    Pre-hospitalization 60 days 60 days
    Post hospitalization 90 days 90 days
    Domiciliary hospitalization Covered Covered
    Organ Donor expenses Covered Covered
    AYUSH treatments Not covered Up to Rs.20,000
    Maternity Expenses Not covered Sum Insured Rs.3-7.5 lakhs
    Normal delivery – Rs.15,000
    Cesarean delivery – Rs.25,000
    Sum Insured Rs.10 lakhs and above
    Normal delivery– Rs.25,000
    Cesarean delivery – Rs.35,000
    New born baby cover Not covered Up to maternity Sum Insured for 90 days
    Vaccination for newborn baby Not covered Up to maternity Sum Insured for 90 days
    Bariatric surgery Not covered 50% of Sum Insured up to Rs.5 lakhs
    Daily Cash Benefit for accompanying minor child (for plans with a term >1 year) Rs.500/day up to Rs.5000 Rs.500/day up to Rs.5000
    Convalescence benefit (for plans with a term >1 year) Rs.5000 if hospitalization exceeds 10 days Rs.5000 for Sum Insured up to Rs.5 lakhs and Rs.7500 for Sum Insured Rs.7.5 lakhs and above if hospitalization exceeds 10 days
    AYUSH Coverage Up to Rs.20,000 Up to Rs.20,000
    Ambulance cover Up to Rs.20,000 Up to Rs.20,000
    Health check-ups Up to 1% of Sum once every 3 years to a maximum of Rs.2000 Up to 1% of Sum once every 3 years to a maximum of Rs.5000
    Sum Insured reinstatement (for plans with a term >1 year) Up to 100% of the original Sum Insured Up to 100% of the original Sum Insured
  • No Claim Bonus – if the policyholder does not make a claim in any policy year he earns a cumulative bonus of 10% increase in the Sun Insured subject to a maximum of 100%.
  • Premium discounts – premium is discounted by 4% if a 2-year policy term is chosen and 8% for 3-year policy term. A family discount is also available which is 10% for 2 members and 15% for 3 or more members
  • Optional benefit – the policyholder can opt for co-pay of 10% or 20% and choosing such co-pay gives a premium discount.

Eligibility Criteria

  Minimum Maximum
Age at entry (in completed years) 18 years 65 years
Plan tenure 1 year 3 years
Premium paying options Single pay
Sum Assured Rs.1.5 lakhs Rs.15 lakhs

What is not covered by the plan?

Illnesses suffered during the first 30 days of the plan commencement are not covered.
Critical Illnesses suffered during the first 90 days of the plan commencement are not covered.
Pre-existing illnesses or conditions are not covered by the plan in the first 3 years of the policy
Maternity related expenses have a waiting period of 75 months
Bariatric surgery is covered after the first 3 years of the policy
Specific illnesses are not covered in the first two years of the plan.
Illnesses or accidents caused due to genetic disorder or stem cell surgery, substance abuse, participation in adventure sports or hazardous activities, criminal acts, attempted suicide, war and hazardous substances, etc. are not covered.
Treatments like cosmetic treatments, artificial life support, weight loss treatments, non-allopathic treatments or due to HIV/AIDS, etc. are not covered.

Premium Illustration

Below are the sample rates of premium payable by a non-smoking male for different combinations of age, plan variants and geographical zones. The Sum Insured is Rs.2 lakhs for Silver Plan and Rs.5 lakhs for Gold Plan and the policy is taken for 1 year.

Bajaj-Allianz-Health-Insurance

FAQs

When is the Daily Cash Benefit for accompanying child payable?

Daily cash benefit for accompanying child is payable only if the child in question is a minor child aged below 12 years. Moreover, this cover is available if the tenure is more than one year.

For which illnesses is Sum Insured reinstatement benefit paid?

The reinstatement benefit is paid for claims pertaining to cancer of specified severity and for kidney failure which requires regular dialysis.

What is the limit on maternity expenses?

Maternity expenses are paid according to the sub-limits for a maximum of 2 deliveries.

What is the eligibility for claiming bariatric surgery expenses?

Bariatric surgery benefits are paid for adults above 18 years of age if BMI is greater than or equal to 40 and the insured suffers from one of the following conditions:

He has coronary heart disease

  • He has medically refractory hypertension, or
  • He had Type 2 Diabetes Mellitus

What is the limit on cataract surgeries?

The limit is 20% of the Sum Insured up to a maximum of Rs.1 lakh in both variants.


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