HEALTH INSURANCE
"Your greatest wealth is your health"
features:
Coverage:
A Mediclaim health insurance provides insurance coverage against hospitalization expenses, treatment expenses due to an accident and specific diseases.
Sum Assured:
Generally, it comes with a pre-decided sum assured.
Premium Affecting Factors:
A Mediclaim insurance plan’s premium is formulated on the basis of the sum insured, the proposer’s age, gender, geographical location and opted duration of the preferred plan.
Claim Settlement:
A Mediclaim claim is processed in the form of reimbursement as well as cashless treatment.
Tax Exemption:
The plan offers tax benefit as per Section 80D of IT Act 1961.
BENEFITS
The biggest perk of a floater is that the policyholder gets to take care of himself and his entire family under one single policy which is quite obviously easier to manage than managing 4-5 individual plans.
When it comes to getting your parents insured, family floater stands out as a much cheaper option than getting a senior citizen health plan.
Floater is a more lucrative option when it comes to features maternity cover
- Income tax benefits under section 80D
- It is easier to get your immediate family members, spouse or new-borns, added in a floater
- In case of younger families, chances of more than one claim are thin. So the member making the claim can avail of a greater sum insured at a lesser cost
UNIT LINKED HEALTH PLANS
While paying your health insurance premiums, you may wonder what if you don’t need hospitalization ever and all the premiums you have paid turn out to be just another expense made out of fear?
Unit Linked Plans commonly known as ULIPS are investment cum insurance plans that comes with the dual benefits of investment and insurance.
How does a Unit Linked Health Plan work ?
Here your premium amount is put into three financial baskets:
- The first part goes to a basket dedicated to medical claims. The size of this slice depends on the medical coverage you opt for
- The second part goes into the mortality basket, this portion is tor securing a sum assured which your nominee will get in case of your demise.
- The third part goes into the investment basket. You can use this portion to invest in funds of your choice or give permission to the insurance company to invest in their best performing fund. This fund can be pure equity or a mix of debt and equity.
In case of a claim related to the health insurance part, the insurance provider will cover your medical expenses, provided your claim meets with their pre- requisites.
After five years of continuing the policy, you will have the option to take out the returns that have been generated from the investment part of your policy while keeping the health cover part intact.
Depending on your ULHP, after a certain time period, the policy will mature and you will receive the fund value the investment part has reached at that point of time
CRITICAL ILLNESS PLAN
A Group Health Insurance is a type of health insurance plan that covers for a group of people who work under the same organization. This is often offered as a valuable benefit for employees as the premium for the same is borne by the employer. The group health insurance coverage can be extended to the family members of the employees in some cases.
This policy is helpful in retaining the talent within an organisation. With Health insurance plan becoming imperative, the employers cover their employees from a financial crisis or prudence.
Advantages of a Group Mediclaim plan:
Low Cost Premiums: Since a group health insurance policy is spread over a group of people, the premium for the same is a lot cheaper than other health policies.
Tax Benefits: According to the Income Tax Department of India, companies offering their employees with a corporate health insurance can benefit from some tax savings!
Company Goodwill: Organizations that offer their employees with valuable benefits lead to happier employees and happier work environments. This ultimately leads to a better goodwill for any company, big and small.
Why protect your employees’ health with a Group Mediclaim policy?
Boost Employee Retention: People value jobs that give them a sense of security. A group health insurance will not only give your employees and their families enough financial security, but an overall sense of satisfaction that their employer actually cares about them.
Strengthen Employee Motivation: Happy employees make happy workspaces and evidently successful companies! It’s no surprise that the safer and satisfied employees feel, the happier and more motivated they’re likely to be!
Protect them from Severe Health Conditions: More than 61% of illness hospitalization and death in India are due to lifestyle-related diseases. Safeguard your employees from the same, amongst other diseases; the earlier these issues are diagnosed, the earlier they can be treated and resolved.
Enhance their Mental Wellbeing: Many employees are often affected by stress due to either financial pressure or other personal issues which can lead to lower productively levels at work too. Our group health insurance plan will not only safeguard their savings but, also enhance their overall mental wellbeing with the right support.
PERSONAL ACCIDENT PLAN
This policy covers the owner/driver against an accidental injury or death. A lumpsum amount is paid to the insured or its family in case of death, loss of income due to permanent partial or total disability.
COVERAGES OFFERED
Accidental Death Cover: An accident can be both emotionally and financially devastating for the dependent family members. In case of fatal injuries, the entire sum assured is paid to the nominee as mentioned in the policy document.
Permanent/Total Disability Cover: In case an accident results in permanent disabilities or lifelong total impairment Such as loss of both the limbs, then a specified sum insured amount is paid to the policyholder
Permanent Partial Disability Cover: If bodily injuries, resulting in permanent partial disabilities, then a certain percentage (up to 100%) of the benefit is paid to the insured.
Temporary Total Disability: In case the insured meets with temporary total disabilities and is bedridden, then the insurer will provide a weekly allowance to recompense the loss of income. The insured can also utilize this claim amount to pay the EMIs, in case there is a loss of earnings.
ADVANTAGES
- Family security
- No requirement of medical tests and documentation
- Substantial coverage at a lower premium
- Worldwide coverage
- Both individual and family plans are available
- Legal and funeral expenses are covered
- Child education benefit
- Double indemnity for demise/ impairment while traveling in public transport
- Availability of customizable plans