Chola MS Individual Health
Objective
A basic health insurance policy that provides for hospitalisation expenses along with a choice to avail extra cover by paying additional premium.
Our View
Being a basic health insurance policy, it only covers hospitalisation medical expenses. Look for another policy if you want cover for risks such as personal accident, critical illness, and other treatments such as domiciliary treatment.
A major drawback is that this policy can be renewed only up to 69 years of age. When policyholder outlives the maximum policy renewal term, he will have to purchase a new policy which could be a herculean task as no insurer wants to insure a high risk life.
Suited for
Any individual upto 55 years can buy this policy. It also covers dependent parents upto 65 years of age.
What does it do?
Besides hospitalisation expenses, it covers pre and post hospitalisation expenses and ambulance charges to carry patient to and from hospital. Some illnesses do not require an overnight stay in hospital. 141 such treatments known as day care procedures also fall under its ambit. Other supplementary benefits such as health check-up, eye examination and daily cash allowance to meet incidental expenses in case of hospitalisation are also available for an additional premium.
Pros
There are no sub-limits under hospitalisation benefit.
It pays a no-claim bonus on an annual basis.
It offers a protection as high as Rs 10 lakh.
Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.
Cons
In event of claim, cumulative bonus will be reduced by 10 per cent during subsequent year.
Eligibility
Entry Age (years)
Maximum
55
Maximum Policy Renewal Age (years)
69
Coverage Type
Individual/ Dependent parents upto 65 years of age
Sum Insured (Rs)
Maximum
10 lakh
Minimum
50000
Policy Term (years)
1
No Claim Bonus
5% of Sum Insured for each claim free year upto maximum of 50%
Pre Policy Medical Check Up
Not required upto 45 years of age
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
Customer Service
Address
Registered Office:Cholamandalam MS,
General Insurance
Company Ltd,
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
Network Hospitals
Http://www.cholainsurance.com/nwhosp/
Additions to the Plan
| Scope Of Cover | |
| 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 |
| Inpatient hospitalisation | covered |
| Day Care Procedures | 141 in number are covered |
| Emergency ambulance | covered upto Rs 2000 per insured per policy year |
| Additional benefits (on payment of extra premiums) | |
| General health check up | covered as per policy conditions |
| Eye examination | covered as per policy conditions |
| Hospital daily allowance | covered ranging from Rs 75 to Rs 1000 depending on basic sum insured |
| 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 |
| Other exclusions | treatment of cataract, hernia, sinusitis, hydrocele etc.dental treatment, HIV/aids and related conditionsNon-allopathic treatment |
Cost Details
| Annual Premium | |||
| Basic Health Cover Plans (Rs.) | |||
| Plan Type | Plan A | Plan B | Plan C |
| Sum Insured (in Rs) | 1 Lakh | 1.50 Lakhs | 2 Lakhs |
| Age (in yrs) < 18 yrs. | 1462 | 2011 | 2561 |
| 18 - 35 | 1697 | 2336 | 2977 |
| 36 - 45 | 1884 | 2566 | 3314 |
| 46 - 55 | 2722 | 3780 | 4829 |
| 56 - 65* | 3839 | 5369 | 6891 |
| Basic + Extra Health Cover Plans (Rs.) | |||
| Age (in yrs) < 18 yrs. | 1811 | 2490 | 3167 |
| 18 - 35 | 2137 | 2931 | 3724 |
| 36 - 45 | 2376 | 3222 | 4145 |
| 46 - 55 | 3337 | 4627 | 5915 |
| 56 - 65* | 4676 | 6541 | 8392 |
| *Only for dependent parents. | |||
| premiums are exclusive of service tax and cess | |||
| Annual Premiums for Chola MS Wellness Health Alerts Service Package Rates (To be added to the policy premium) | |||
| For Policies with Base Sum Insured | Rs 1 Lakh to Rs 2 Lakhs Tier I | Above Rs 2 Lakhs up to Rs 5 Lakhs Tier II | Above Rs 5 LakhsTier III |
| Package Rate (in Rs) | 175 | 350 | 500 |
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