Indian Money Review - National Health Insurance Benefits And
Plans Online
National Insurance Company Limited was incorporated in the
year 1906 and is India’s oldest Insurance Company. In the year 1972, it was nationalized
along with 21 foreign and 11 Indian insurance companies which were amalgamated
with it. It is a Government of India owned company and has its headquarters in
Kolkata. It provides General Insurance and specializes in products like
Motor Insurance,
Health
Insurance, Personal Insurance, Rural Insurance, Industrial Risk Insurance,
and Commercial Risk Insurance. In this article we will look at the different
types of National Health Insurance.
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National Insurance Mediclaim Policy
This policy covers hospitalization expenses which were
incurred for treatment of diseases or illnesses contracted during the policy
period. It covers more than 140 different types of day care procedures and
surgeries.
Features:
- The
policy is available for anyone between the age of 18 and 65 years.
- Dependent
children aged 3 months and above can also be covered, provided at least
one parent is also covered at the same time.
- Dependent
Parents can also be covered along with family.
- Sum
Assured ranges from Rs 50,000 to Rs 5 lakh, increasing in multiples of Rs
25,000.
- The
policy can be renewed lifelong.
- Pre-existing
diseases will only be covered after 4 year waiting period.
Benefits:
- Provides
reimbursement for hospitalization expenses under the following heads:
- Room,
nursing, and boarding expense – 1% of sum assured per day and 2% of sum
assured per day, subject to an overall limit of 25% of sum assured.
- Fees
of doctor, surgeon, anaesthetist, specialist, and consultant, subject to
an overall limit of 25% of sum assured.
- Expenses
for oxygen, blood, anaesthesia, medicines, X-Ray, pacemaker, surgical
equipment, operation theatre, chemotherapy, and other similar expenses,
subject to an overall limit of 50% of sum assured.
- Ambulance
charges up to 1% of sum assured, subject to maximum of Rs 2,000 in a
policy period.
- Ayurveda
and Homeopathy treatment are covered up to 20% of sum assured for any one
illness.
- Cover
for more than 140 day care treatments which require hospitalization for
less than 24 hours.
- A
cumulative bonus of 5% of sum assured is added for every claim free year,
provided the policy is renewed without break. At the end of every 4 claim
free years, health check-up expenses will be reimbursed, up to 1% of
average sum assured.
- Cashless
facility is available at more than 6,000 hospitals across India.
- If the
policy is taken for family, comprising the insured and/or spouse,
dependent children and parents, a discount of 10% will be allowed on total
premium.
- Premium
is exempt from Income Tax, under Section 80D of the Income Tax Act.
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