Chola MS Family Healthline- Standard

Objective

An online health insurance policy that aims to cover a family of up to two adults and three children under a single policy for a maximum sum insured of 5 lakh.

Suited for

It suits you if you are looking for a basic medical insurance.

What does it do?

This is the first and the most basic variant of Family Healthline policy. It covers on a family floater basis which means the Sum Insured can be utilized by any of the insured members. It covers hospitalisation expenses for treatment taken as an inpatient, day care procedures, emergency ambulance, pre and post hospitalisation expenses and also provides a daily cash amount for choosing shared accommodation. This policy offers additional discount on premium if policyholder agrees for a co-payment clause wherein, the policyholoder will have to bear 10 per cent of admissible claim each time except in case of treatments which already contain a co-pay clause specific to them. Policyholder may also avail reminder or alert facility known as Chola Wellness Health Alert Services (CWHAS) from insurer by paying an additional premium.

Pros

It pays a bonus for every claim-free year on an annual basis.
It allows lifelong renewal.
Chola Wellness Health Alert Services will prevent missing on important events.
It is available online for purchase.
Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.

Cons

There is a cap on room rent, boarding and nursing expenses.
No-claim bonus will be reversed by 10 per cent in the event of any claim.

Our View

Like other basic insurance plans it offers to cover hospitalisation expenses but co-payment clause acts as a deterrant. You should avoid co-pay if you are young and healthy. Such clauses are usually attached to Senior Citizen policies. Lifetime renewal is an advantage. There are sub-limits on room rent and boarding expenses. Check for the additional premium required to waive the co-pay clause else go for policy from other insurers which donot ask for any co-payent.