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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.


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.


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.

Eligibility
Entry Age (years) 
Maximum55
Maximum Policy Renewal Age (years)69
Coverage TypeIndividual/ Dependent parents upto 65 years of age
Sum Insured (Rs) 
Maximum10 lakh
Minimum50000
Policy Term (years)1
No Claim Bonus5% of Sum Insured for each claim free year upto maximum of 50%
Pre Policy Medical Check UpNot required upto 45 years of age
Policy TerminationInsurer 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 
AddressRegistered Office:Cholamandalam MS,
General Insurance
Company Ltd,
2nd Floor, "Dare House",
No.2, NSC Bose Road,
Chennai - 600001, India
Mail to[email protected]
Call to044-3044 5400, 1800-200-5544 (Toll Free)
SMSSMS "CHOLA" to 56677
Network HospitalsHttp://www.cholainsurance.com/nwhosp/
Additions to the Plan
Scope Of Cover
Cashless facilityavailable at network hospital
Reimbursement facilityavailable if treatment taken in an non-network hospital. Policyholder will have to bear 10% of the expenses in such a case
Pre and post hospitalisationcovered from 60 days prior to hospitalisation and upto 90 days after discharge from hospital
Inpatient hospitalisationcovered
Day Care Procedures141 in number are covered
Emergency ambulancecovered upto Rs 2000 per insured per policy year
Additional benefits (on payment of extra premiums)
General health check upcovered as per policy conditions
Eye examinationcovered as per policy conditions
Hospital daily allowancecovered ranging from Rs 75 to Rs 1000 depending on basic sum insured
Exclusions and Waiting Period
Pre-existing diseasesnot covered upto 48 months of continuous coverage from first policy year
No claim Period30 days from commencement of the policy
Other exclusionstreatment of cataract, hernia, sinusitis, hydrocele etc.dental treatment, HIV/aids and related conditionsNon-allopathic treatment
Annual Premium
Basic Health Cover Plans (Rs.)
Plan TypePlan APlan BPlan C
Sum Insured (in Rs)1 Lakh1.50 Lakhs2 Lakhs
Age (in yrs) < 18 yrs.146220112561
18 - 35169723362977
36 - 45188425663314
46 - 55272237804829
56 - 65*383953696891
Basic + Extra Health Cover Plans (Rs.)
Age (in yrs) < 18 yrs.181124903167
18 - 35213729313724
36 - 45237632224145
46 - 55333746275915
56 - 65*467665418392
*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 InsuredRs 1 Lakh to Rs 2 Lakhs Tier I Above Rs 2 Lakhs up to Rs 5 Lakhs Tier IIAbove Rs 5 LakhsTier III
Package Rate (in Rs)175350500