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:
  1. 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.
  1. Ayurveda and Homeopathy treatment are covered up to 20% of sum assured for any one illness.
  2. Cover for more than 140 day care treatments which require hospitalization for less than 24 hours.
  3. 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.
  4. Cashless facility is available at more than 6,000 hospitals across India.
  5. 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.
  6. Premium is exempt from Income Tax, under Section 80D of the Income Tax Act.
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