Chola MS Family Health
An offline health insurance policy designed to cover a family on a floater sum insured basis where a single sum insured can be shared or utilized by any of the insured family members.
It can cover up to two adults and three kids under a single policy.
What does it do?
Besides hospitalisation expenses, it covers pre and post hospitalisation expenses and ambulance charges and day care treatment for illnesses where overnight stay is not required. It also pays for crutches, wheelchair and other external aids if it is related to the illness for which claim has been accepted by the insurer. A pre-specified daily benefit is paid in case of hospitalisation as an inpatient and nursing care taken at home. It also offers a special reminder service known as Chola Wellness Health Alert Services (CWHAS) so that policyholders don't miss on important tasks such as payment of premium on time.
There are no sub-limits under hospitalisation benefit.
It pays a no claim bonus on an annual basis.
Chola Wellness Health Alert Services will prevent missing on important events.
Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.
Lower maximum age of entry.
It does not provide lifetime renewal option.
A health insurance policy for those looking to cover family under a single sum insured. A major drawback is that this policy can be renewed only up to 69 years of age. When the policyholder outlives maximum policy renewal term, he will have to purchase a new policy at an age where either insurers are not willing to insure a high risk life or they demand very high premiums with lots of exclusions and conditions. Policies offering lifelong renewal option must be preferred.
|Entry Age (years)|
|Maximum Policy Renewal Age (years)||69|
|Coverage Type||Family floater|
|Sum Insured (Rs)|
|Policy Term (years)||1|
|No Claim Bonus||5% of Sum Insured for each claim free year|
|Grace Period for Policy Renewal||15 days|
|Policy Termination||Insurer can terminate this policy after giving a 30 days notice. Proposer can also put off the policy by giving a 7 days notice period. If no claim has been made, insurer will return premium on a pro-rata basis|
|Address||Registered Office:Cholamandalam MS,|
2nd Floor, "Dare House",
No.2, NSC Bose Road,
Chennai - 600001, India
|Mail to||[email protected]|
|Call to||044-3044 5400, 1800-200-5544 (Toll Free)|
|SMS||SMS "CHOLA" to 56677|
Additions to the Plan
|Scope Of Cover|
|Sum Insured (In Rs.)|
|5 lakh||4 lakh||3 lakh||2 lakh|
|Cashless facility||available at network hospital|
|Reimbursement facility||available if treatment taken in an non-network hospital. Policyholder will have to bear 10% of the expenses in such a case|
|Pre and post hospitalisation||covered from 60 days prior to hospitalisation and upto 90 days after discharge from hospital|
|Room rent per day||upto Rs3000||upto Rs2500||upto Rs2000||upto Rs 1500|
|Day Care Procedures||141 in number are covered|
|Emergency ambulance||covered upto Rs 1000 per policy year|
|External aids||covers Abdominal belts and Trusses (used post-hernia and related surgeries), Belts for prolapsed Inter-vertebral Disc, Artificial limbs, Crutches and Wheel-chair for maximum upto Rs 10000|
|Home nursing care allowance daily benefit||upto Rs 300||upto Rs 300||upto Rs 200||upto Rs 200|
|Hospital daily allowance||upto Rs 500 per day for 14 days||upto Rs 400 per day for 10 days||upto Rs 300 per day for 7 days||upto Rs 200 per day for 7 days|
|Exclusions and Waiting Period|
|Pre-existing diseases||not covered upto 48 months of continuous coverage from first policy year|
|No claim Period||30 days from commencement of the policy|
|Waiting period||1 year for certain illnesses such as hernia, cataract, sinusitis etc.|
|Other exclusions||dental treatment, HIV/aids and related conditions|
|Age of eldest family member (in years)||Sum Insured (in Rs)|
|2 Lakhs||3 Lakhs||4 Lakhs||5 Lakhs|
|18 - 35||4745||6593||8109||9227|
|36 - 45||5330||7485||9317||10376|
|2 Adults + 1 Child|
|18 - 35||5519||7668||9430||10731|
|36 - 45||6201||8704||10837||12069|
|2 Adults + 2 Children|
|18 - 35||6298||8742||10757||12236|
|36 - 45||7405||10392||12933||14400|
|2 Adults + 3 Children|
|18 - 35||7071||9822||12079||13745|
|36 - 45||8313||11665||14529||16174|
|1 Adult + 1 Child|
|18 - 35||4648||6459||7942||9038|
|36 - 45||5223||7334||9130||10166|
|1 Adult + 2 Children|
|18 - 35||5422||7534||9269||10543|
|36 - 45||6094||8554||10650||11859|
|1 Adult + 3 Children|
|18 - 35||6201||8608||10590||12047|
|36 - 45||7286||10231||12735||14180|
|Premium rates are exclusive of tax and cess|