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National Insurance Company

National Insurance Company

National Insurance Company Limited (NICL) is a government owned general insurance company setup in India. It is the second-largest non-life insurance company of India.
The company which commenced in 1906 has its headquarters in Kolkata. Being one of the oldest insurance companies on India, this company has a wide network in North and East India. NIC's has had a steady growth over the years and its gross direct premium income stands at INR 9000 cr today.

National Insurance Company Limited (NICL) provides various kinds of insurance policies to its customers ranging from health, motor, travel, etc.

National Insurance Company Limited (NICL)’s Products

Personal Insurance: This insurance scheme includes medical insurance, motor insurance, etc.
Rural Insurance: Especially designed for rural and agricultural industries and business, this scheme provides protection in case of damage to rural businesses.
Industrial Insurance: It offers cover for damage caused to industrial products and goods in case of robbery, fire, floods, etc.
Commercial insurance: It offers cover for damages caused to goods and belongings during transit.

Product Details

Personal Insurance
Health Insurance: If you don’t want to worry about the long expensive hospital bills, NICL’s health insurance policies are your saviour. It covers all your medical expenses and also provides other perks. Some of the plans under this scheme are:

  • National Insurance Individual Personal Accident Policy
  • National Mediclaim Policy
  • National Mediclaim Plus Policy
  • Parivar Mediclaim Policy
  • Varistha Mediclaim Policy
  • Critical Illness Policy
  • Janata Personal Accident Policy

The following is a summary of a few of the health policies:


National Mediclaim Policy

Eligibility
Entry age


18 years to 65 years.
Children between 3 months - 18 years (at least one parent has to be covered under this plan).

Eligibility
Max. Renewability Age


No Limits

Eligibility
Medical Screening


Not required for persons up to 50 years.
Required for persons over 50 years

Cover
Sum Assured


Rs.50,000 to Rs.5 lakhs (in increments of Rs.25,000).

Cover
Basis


Individual or Family

Costs

Premiums

Family Premium Discount



Rs.856 to Rs.40,124
10% for covering an additional family member.

Benefits


Claims

Claim updates

Health Checks

Emergency Assistance

Hospital Network

Tax Deduction





Cashless and Reimbursement facilities.

SMS alerts.

After every 4 successive claim-free years, up to 1% of the basic sum assured.

24 hours TPA customer support.

6,000 plus, in over 1,500 areas.

As per provisions U/S 80D of the Income Tax Act.

Terms 

Portability


Tax



Allowed.



Service tax and TPA charges apply.

Exclusions
  • STDs including HIV and related disease
  • General enervation
  • Maternity
  • Obesity
  • Psychiatric and related ailments
  • Genetic disorders
  • Unnecessary vaccinations
  • Cosmetic/sex change surgeries
  • Lipid Profiling, Blood Sugar, Serum Creatinine
  • Urine Tests

National Mediclaim Plus Policy

Eligibility
Entry age


18 years to 65 years.
Children between 3 months and 18 years.

Eligibility
Max. Renewability Age


No Limits

Cover
Sum Assured


Plan A - Rs.2 to 10 lakhs
Plan B - Rs.15 to 20 lakhs 
Plan C - Rs.30 to 50 lakhs

Benefit

Co-payments

Health Checks





SMS alerts.

20% of admissible claim (non-network hospital).

Every 2 years: Up to Rs.1,000 (Plan A), Up to Rs.2,000 (Plan B), Up to Rs.3,000 (Plan C).

Exclusions
  • STDs including HIV and related diseases
  • Obesity
  • General enervation
  • Genetic disorders
  • Naturopathy
  • Cosmetic/sex change surgeries
  • Unscientific Treatment
  • Spectacles, Contact Lens
  • Abuse of intoxicants
  • Cochlear Implants
  • Hearing Aids

Parivar Mediclaim Policy

Eligibility
Entry age


18 years to 60 years.
Children between 3 months and 25 years

Eligibility
Max. Renewability Age


65 years.

Cover
Sum Assured

Rs.2 lakhs to Rs.5 lakhs

Cover
Basis


Family Floater.

Exclusions
  • Waiting period for specific diseases: 2 years.
  • Congenital ailments
  • STDs including HIV and related ailment
  • Self-inflicted injuries, Abuse of intoxicants, Convalescence
  • Dental treatment
  • Complications resulting from pregnancy
  • Unnecessary diagnostic, lab exams.
  • Non-allopathic treatment.
  • Terrorism, War and related acts.

Varistha Mediclaim Policy for Senior Citizens

Eligibility
Entry age


60 yrs. to 80 yrs.

Eligibility
Max. Renewability Age


90 yrs.

Cover
Sum Assured

Hospitalisation Cover - Rs.1 lakh; Critical Illness Cover - Rs.2 lakhs

Cover
Basis


Fixed sum assured per individual covered

Exclusions


  • Waiting period of 1 year for pre-existing diseases
  • Dental treatment 
  • Cosmetic treatment 
  • Pregnancy, childbirth
  • General debility
  • Congenital defects 
  • Self-injury
  • Injuries of war, nuclear activity etc. 
  • Vaccinations

Critical Illness Policy

Eligibility
Entry age


20 yrs. to 60 yrs.

Eligibility
Max. Renewability Age


65 yrs.

Cover
Sum Assured

Rs.5 lakhs, Rs.10 lakhs, Rs.20 lakhs, Rs.25 lakhs

Exclusions

90 day waiting period
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Individual Personal Accident Policy

Eligibility
Entry age


5 yrs. to 70 yrs.

Eligibility
Medical Screening


Not required

Cover
Sum Assured
  • Cumulative Bonus for every claim-free year under Comprehensive Cover
  • 5% increase in sum assured, limited to 50%

Cover
Premium Discounts


10% discount for Family Package cover
Discounts on Group Policies

Exclusions

  • Self - injury
  • suicide
  • insanity
  • injury as a result of intoxication or criminal activity

Janata Personal Accident Policy

Eligibility
Entry age


5 yrs. to 70 yrs.

Eligibility
Medical Screening


Not required

Cover
Policy Term


Up to 5 yrs.

Cover
Sum Assured


Rs.25,000 to Rs.1 lakh (in increments of Rs.25,000), per person, p.a.

Cover
Premium


Rs.15 per Rs.25,000

Cover
Premium Discounts


Discounts on Group Policies, based on group size

Cover
Events
  • Death, Permanent Total Disablement: 100% of the chosen sum assured
  • Loss of one eye or loss of one limb:  50% of the chosen sum assured

Exclusions

  • Self - injury
  • suicide
  • insanity
  • injury cause by intoxication or criminal activity
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