What does it do?
A comprehensive insurance policy which covers inpatient hospitalisation, out patient department treatment, maternity expenses, domiciliary treatment i.e., treatment taken at home, day care procedures which do not require hospitalisation due to technological advancement and other incidental expenses. Under OPD treatment, the insured member(s) are entitled to a limited consultations with doctor. Other OPD benefits like diagnostic tests, pharmacy, dental treatment and spectacles are capped. Critical illness cover and cover for newborn are two optional covers worth buying. Add-on critical illness cover provides for eight chronic illnesses and pays a lump sum on confirmed diagnosis of any of the illnesses. Coverage for other incidental expenses such as pre and post hospitalisation, treatment of organ donor, a specific daily cash allowance for one adult accompanying an insured child under inpatient hospitalisation, are available in the policy.
Pros
There is no exclusion or waiting period under OPD treatment cover.
This policy covers diagnostic tests, dental treatment, spectacles, contact lenses under OPD benefits.
Policyholder enjoys a 10 per cent increase in annual inpatient sum insured for every claim-free year up to maximum of 50 per cent of sum insured.
Policyholder is allowed to carry forward 50 per cent of unutilized Entitlement Certificates to the next policy year except for Annual Health Check up.
Premium paid towards this policy is eligible for tax benefit under section 80D of Income Tax Act.
Cons
There are no choices to make for inpatient sum insured. This policy is available with sum insured worth Rs 3 lakh only.
There is a capping on most of the benefits both under inpatient hospitalisation and OPD cover.
Cumulative bonus reduces by 20 per cent in the following year when claim has been made.
