Health insurance covers essential health, illness and accident expenses by protecting
you from unexpected, high medical costs. Health insurance policies can be bought
for an individual or for family. Let’s have a look at types of health insurance covers
you can consider before making your buying decision.
Individual Health Policy
Under the Individual Health Insurance Policy, the chosen sum assured is applicable to
a person covered under the plan on an individual basis for cashless hospitalization
and other benefits. It is a policy where each insured member is entitled to the entire
Family Floater Health policy
In the Family Floater Health Insurance policy, the chosen sum assured is applicable to
all family members covered under a single cover i.e. one cover for all members. It
can be used entirely by one member or by multiple people over multiple claims.
Top-up Health policy
The Top-up health insurance plan additional coverage for people who have limited health
cover insurance under an existing individual plan or coverage from the employer.
It is for reimbursement of expenditure which arises out of single illness when the
limit of the existing cover is not sufficient.
Critical Illness Insurance policy
Taken as a standalone insurance policy or a rider for treatment of serious illnesses
like - cancer, kidney failure, heart attack etc. Most critical illness policies provide
for payment of a lump sum benefit if the policyholder is diagnosed, suffering from
one of the specified critical illnesses.
Features and Benefits
- Comprehensive health cover insurance options from Rs.2 lakhs to Rs.50 lakhs
- Cashless settlement - you need not pay any amount while hospitalized for treatment
across wide network of hospitals
- Ambulance fees covered
- No room rent capping
- Maternity benefits, including coverage of new born baby along with vaccination charges
up to 10 years
- 30 days pre- and 60 days post-hospitalization benefits
- 130 daycare procedures covered
- Medical expenses incurred during organ transplant
- Emergency ambulance charges covered
- AYUSH (Ayurveda, Unani, Siddha and Homeopathy) treatment is also covered
- Free health check-ups and discount vouchers as No Claim Bonus (NCB is an advantage
provided if a person does not file a claim for any treatment in previous year.)
- Entry age up to 60 years
- Income Tax benefit under Section 80D
Contact us to know more on what is covered and excluded under your Health Insurance plan.
How to Apply
You’ll be surprised to know how easy it is to get a Health Insurance policy with Bajaj
Finserv even if you’ve never used our services before. Just fill in your details
on this page, or give us a missed call on 09212 130 130 and we will get in touch
with you and take you through the process.
Things to consider before you buy
- What type of insurance policy you would want to buy, for individual or for family?
- What would be the ideal insurance cover for you/your family?
- What add-on features you would want to opt-in for?
- Know the applicable sub limits (capping amount of expenses category like room rent,
doctors’ fees, medical test cost etc.)
- Policy inclusions and exclusions.
- What would be likely procedures of claim? (cashless, reimbursement)
- Medical checkups required before policy acceptance?
Q1. What is Health Insurance/Mediclaim?
A. Health Insurance/Mediclaim is protection against medical
costs. A health insurance policy is a contract between an insurer and an
individual /group in which the insurer agrees to provide specified health
insurance cover at a particular premium. The health insurer usually provides
either direct payment (cashless facility) or reimburses the expenses associated
with illnesses and injuries.
Q2. Why do I need Health Insurance?
A. Healthcare is expensive. Technological advances, new procedures
and more effective medicines have driven up the cost of healthcare. This
increase has to be borne by the consumer, making treatment unaffordable for
Health Insurance overcomes these obstacles so that you remain
free of anxiety regarding your health. Think for a moment about the enormous
medical costs you would incur if you suffered a major accident tomorrow or
were suddenly stricken by an illness. Uninsured people live with such risks
every day. Health insurance seeks to shield you from that risk. It provides
the much needed financial relief. You also get tax benefit under section
80D of the Income Tax Act.
Q3. What is the procedure for change of address for medical insurance?
A. You can change the address by giving a request letter to
the insurance company on plain paper and the insurance company will pass
the endorsement and give a copy of same to you. Kindly remember to send same
to your TPA also so that they can incorporate same in their records.
Q4. I am already having health insurance and want to increase sum insured, what
should I do?
A. You can take super top up plan and increase your sum insured
to desired level.
Q5. Can a person have more than one Health policy?
A. Yes. But each company will pay its ratable proportion of
the loss, liability, compensation, costs or expenses. E.g. If a person has
Health Insurance from company X for Rs. 1 Lac and Health Insurance from company
Y for RS. 1 Lac, then in case of a claim, each policy will pay in the ratio
of 50:50 up to the SI.
Q6. What is Cumulative Bonus?
A. An increase in the Sum insured by a specified percentage
for every claim free year, subject to a certain maximum. An important point
to be remembered is that the policy should be renewed without a break to
avail of the cumulative bonus.
Q7. What are Pre-Existing Diseases?
A. Any condition, ailment or injury or related condition(s)
for which insured person had signs or symptoms and/or was diagnosed and/or
received medical advice/treatment within 48 months prior to his/her health
policy with the company. Preexisting diseases will be covered after a maximum
of four years since the inception of the policy.
Q8. What is meant by Pre and Post hospitalization?
A. Relevant medical expenses incurred before and after hospitalization
for a specified number of days or up to a specified amount. Relevant medical
expenses means expenses related to the treatment of the disease for which
the insured is hospitalized.