NICL was established at Kolkata in 1906 and nationalised to become a fully state-owned general insurance company in 1972. Since it is state owned, NICL is a subsidiary of GIC or General Insurance Corporation of India. NICL has a triple ‘A’ rating from Credit Rating Information Services of India Limited, which indicates the highest claim settlement abilities.
National Health Insurance offers a number of health insurance policies that can be tailored to your specific needs.
These mediclaim policies cover emergency health-related needs of travellers going abroad for the purpose of business, employment, vacationing and studies.
It also acts as travel insurance, covering unforeseeable mishaps that may happen on a trip such as loss of luggage or passport.
There are four plans – plans A and B for Holiday and Business purposes, and plans C and D for Study and Employment. The following differences are notable in these plans.
Plan A and Plan B divided into a lower and a higher tier: A1, A2, B1 and B2. Plan A covers travel worldwide excluding USA and Canada, which is reflected in the lower premium required. Plan B has a higher premium and provides greater cover, including cover in Canada and USA.
The insurance cover provided by the plans is classified under the following sections:
Plans C and D of the Overseas Mediclaim Policy are directed towards travellers going abroad for Employment or Education purposes and frequent corporate travellers. Plan D includes travel to the US and Canada and has two tiers, while plan C does not.
Along with separate covers for illness, medical evacuation and repatriations, Plans C and D have an Emergency Medical Reunion travel allowance of $5,000 for a family member who wishes to visit the insured in times of sickness.
The allowances in all the plans are same, with D1 providing $5,00,000 in case of illness and the others providing $1,50,000 each. Medical evacuation and repatriation allowance are $10,000 each.
Students sponsored by the government or their institution for studies receive an additional Contingency insurance of $750 per month of completed study.
Plan D1 also covers loss and delay of checked baggage with allowances of $1,000 and $100 respectively.
Inclusions and Exclusions under Overseas Mediclaim Policy
The covers detailed above are provided on the condition that the first $100 of each claim is borne by the insured. Travellers planning a trip over 60 days who are over the age of 70 needs to submit an ECG and Fasted Blood Sugar reports along with proposal for policy. Non-compliance restricts cover to $10,000.
These National Insurance health policies are family floater insurance plans and provide financial protection against hospital costs incurred due to diseases, and injuries. A family floater plan is one which provides complete cover to the insured individual and his family. The insured person must be 18 to 65 years of age. Children between ages three months and 18 years old can be covered on the condition that a parent is also covered. Cover is also provided for dependent parents.
A regular plan and a ‘Plus’ plan with additional benefits and greater cover is available. The ‘Plus’ package provides insurance cover for the insured his parents, and all dependent children, as opposed to two dependent children in the regular plan. The policies can be renewed life-long.
Cover is not provided in either of the National Mediclaim Policies for HIVs and STDs, substance abuse, psychiatric disorders, cosmetic procedures, hormone replacement, obesity and genetic disorders.
Where the National Mediclaim Policy was for individuals including cover for families, the National Parivar Mediclaim Policy is a floater plan directed towards families by default. As the name suggests, National Parivar Mediclaim Plus provides greater cover and additional benefits.
This plan again is directed towards nuclear families of the insured, spouse and two dependent children. It is intended to be more general in nature and has fewer benefits than the National Parivar Mediclaim and the National Mediclaim Policies.