Chola MS Family Healthline- Superior

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 10 lakh.

Suited for

It is suitable for a young and growing family.

What does it do?

This is the second variant of Family Healthline policy. It offers a family floater cover 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. In addition to these benefits, the policy pays for domiciliary treatment i.e, treatment taken at home, maternity expenses and a daily cash amount in event of an insured minor being hospitalized. This policy comes with a co-payment clause whereby, policyholder will need to pay 10 per cent of admissible claim each time except in case of treatments which already contain a co-pay clause specific to them. Co-pay clause can be waived by paying additional premium. 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 provides an option to waive off the co-payment clause.
It is available online for purchase.
Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.

Cons

The co-payment clause requires policyholder to pay 10 per cent of the admissible claim.
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

Co-pay clause acts as a limitation. Check the additional premium amount required to waive the co-pay clause. Otherwise look for a policy without co-pay clause. There are sub-limits on room rent and boarding expenses. If you are young and healthy, there are many policies available in the market without such clause.