What does it do?
This policy covers hospitalisation expenses including diagnostic procedures, boarding and lodging, ICU, operation theatre, anesthesia, blood, oxygen, medicines, drugs, nursing and medical practitioner charges if treatment is taken as an inpatient. Relevant expenses related to the illness that causes admission to hospital, incurred before hospitalisation and post discharge from hospital are covered too. It covers day care procedures, domiciliary treatment and expenses for treatment of organ donor during transplant. Day care procedures are those treatments which do not require a stay in hospital for more than 24 hours due to technological advancement like chemotherapy, Hemodialysis etc. Domiciliary treatment means treatment taken at home on advice of doctor which would have otherwise required hospitalisation.
It also pays a minimum of Rs 500 and maximum up to Rs 3,000 as daily cash allowance if hospital accommodation is taken on a shared basis in a network hospital. Emergency ambulance charges up to Rs 2,000 per hospitalisation are admissible.
Pros
There is no cover ceasing age. It offers a lifelong insurance.
The policy provides a discount of 7.5 per cent on advance payment of 2-year premium.
Family discount of 10 per cent is applicable on including three or more family members under the same policy.
It gives a cumulative bonus of 10 per cent for every claim-free year up to a maximum of 50 per cent.
It provides for a free health check up at the end of four continuous claim-free years.
Premium paid under this policy qualifies for deduction under section 80D of income tax act.
This policy can be purchased online.
Cons
In case, no-claim bonus has been passed and a claim arises during that year, cumulative bonus would be reduced by 20 per cent in the following year.
