New India Assurance is a government owned insurance company with its headquarters in Mumbai. It has a global presence in over 28 countries. It offers a range of Mediclaim policies for individuals and families.
Mediclaim is a boon to the common man as hospitalization and other medical expenses threaten to disrupt one’s financial stability. Unforeseen medical complications and its treatments come with a hefty price, which in the absence of a Mediclaim would be difficult to manage.
This policy covers unforeseen hospitalization expenses of the proposer, proposer’s spouse, parents and children up to a maximum of 6 persons. The age eligibility for this policy is between 18 and 65 years. A baby born to an insured mother will be covered from birth till the expiry of the policy. Members of over 50 years will be required to undergo pre-acceptance medical check-up.
Sum insured is the maximum amount payable by the insurer in the event of hospitalization. The proposer can choose a Sum Insured of up to 15 lakhs under this policy. The premium would depend on the Sum Insured. In circumstances where the insured has been hospitalized more than once, the Sum Insured shall not exceed the total of all amounts paid
This plan offers optional add-on covers for an extra premium to customize the policy to suit your needs. You can choose from a range of optional covers available.
This policy is tailored to give you and your family, protection from unexpected hospitalization expenses. The policy offers two plans namely Plan A and Plan B.
Plan A offers sum insured of Rs. 15,00,000 and Rs. 25,00,000. Under Plan B the sum insured is Rs. 50,00,000 and Rs. 100,00,000. This is the maximum liability of the insurer towards all payments defined by the policy.
Covers under the policy
This policy covers the following expenses:
The Family Floater Mediclaim Policy covers the family members under one sum insured. The coverage extends to the proposer, proposer’s spouse and a maximum of two dependent children. It does not cover family members like parents, parents-in-law, siblings.
The Sum Insured ranges between Rs. 2 lakhs and Rs. 5 lakhs. The premium will be calculated based on the highest age of the family member.
The insurer will not be liable in the following circumstances
Medical expenses caused by injury or disease occurred outside India are covered under this policy. Claims will be settled abroad in foreign currency while the premium is payable in Rupees. It has two plans under this policy namely Business & Holiday Plans and Employment and Studies plans. Persons aged between 6 months and 70 years are eligible for this policy. Discounts like Loyalty discount and Good Health Discount can be availed under this plan. Premium is calculated based on the age of the insured and geographical area of treatment.
Residents of India aged between 60 and 80 years can avail this policy. If the policy is renewed consistently without a break, then the cover may be extended up to 90 years. It also offers 10% discount on the premium for voluntary excess of Rs. 10,000 and 10% Family discount if the spouse is also covered. The policy provides two Sum Insured to choose from, Rs. 1,00,000 and Rs. 1,50,000. The premium falls between the range of Rs. 3850 and Rs. 7650.