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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Sometimes even a single hospitalisation can wipe of lifetime's savings of an individual. But, if a person is foresighted, he or she can avoid such a crisis by opting for proper health insurance plans beforehand. The MediRaksha Plan under TATA AIG Health Insurance is one such plan that can help the policyholder prepare financially for the treatment of the illness. Under this plan, the minimum entry age is 91 up to the age of 65 years. This plan comes with a coverage period of 1 or 2 years and also with an option of lifelong renewability. An individual can purchase this policy for a single person or as a group plan for the whole family. It has an additional feature of cashless service, which is available in an extensive range of network hospitals of this plan provider company throughout the country.
The Tata AIG MediRaksha Plan is designed in such a manner that it covers people who are between 91 days and 65 years. The Plan is available on an individual basis as well as family floater basis. It is issued for 1 or 2 years as the case may be. This health insurance has so much flexibility that it covers the policyholder, his spouse, dependent parents, and dependent children under a single policy. This plan which is indemnity based provides health insurance cover, stuffed with a wide range of benefits. Besides, the cashless services offered under this plan can be availed of in 3000+ network hospitals through the length and breadth of our country. TATA AIG Insurance Company has designed this plan in such a manner that it suits everybody whoever seeks health insurance policies for a healthy and carefree life. This policy gives an assurance of providing ample financial support for the treatment of the specified illnesses with benefits and coverage listed. This eventually results in removing worries from the mind of the policyholder that one might get a hole in the pocket in undergoing any medical treatment. This plan enables the policyholder, and his loved ones get treatment during tough times of illness without any financial worry. This plan is affordable in comparison to other health insurance plans.
Some of the salient features that make this policy worth buying are:
Global Coverage: This plan not only provides medical facilities across India but also the medical expenditures incurred by the insured outside India. This benefit can be availed by those who travel abroad.
Bariatric Surgery Cover: If the person insured fulfils all the conditions in the policy, this plan also offers coverage against expenses due to Bariatric surgery.
Restoration Benefit: If the person insured needs to undergo extensive treatment thereby exhausting the full insured sum plus cumulative bonus while the plan is in force, an extra sum equal to the insured sum in the plan.
Cumulative Bonus: If there is no claim in a year, the policyholder will get a 50% on the sum insured as a cumulative bonus. On the contrary, the cumulative bonus account decreases upto 50% on the sum assured in the consecutive year, which is consumed during hospitalisation.
*The above information is subject to change as per the norms of the insurance provider.
This TATA AIG health insurance plan comes with multiple benefits. Some of them are mentioned below:
Daycare Treatment Cover
Nowadays, as a result of scientific advancement, some treatments do not require 24 hours hospitalisation. The policy covers such 140 daycare treatments.
Organ Donor Cover
The plan offers financial support for meeting expenses that are incurred as the payment given to donors for organ transplantation.
The insurance company will avail up to 1% of the total claim amount to the policyholder while admitting in a hospital or 1% of actual medical bills related to the policyholder's hospitalisation.
The insurer will pay 1% of the claim amount to the policyholder or the actual medical bills relating to his hospitalisation 60 days after hospitalisation.
The individual can get up to 1% of the sum insured or up to Rs 1000 for a routine health check (routine) for continuous 4 years where no claim is made.
The policyholder can shift his/her current health insurance policy to MediRaksha Policy before the date of renewal on the condition that one has not taken any breaks from the previous policy.
If by chance a policyholder changes his mind over buying this policy, he/she can return it and ask for a refund within 15 days from the date of initialisation of the policy.
Room rent / Room category
The insurer gives 1% of the sum that is insured on a per-day rental basis and 2% of the sum insured on the ICU room rent per day basis.
The policyholder has to make a payment of 15% of the sum insured on every claim under this policy.
Except for any claim arising out of accidental injury, a cooling-off period of 30 days is given for all claims.
Specific Illnesses Cover
The point to be noted here is that the policy covers only some specific diseases/treatments and that too only after 2 years or 24 months. These include Arthritis, Cataract, Kidney stone, Hernia, etc.
Pre-existing Illnesses Cover
The policyholder can avail of any pre-existing conditions only after 4 years from the policy start date.
The exclusion of the policy are:
*This list is only indicative and not exhaustive. The insured can refer to the policy document for the complete list of exclusions
The eligibility of the Tata AIG MediRakshaplan is as follows:-
TATA AIG health insurance can be claimed for planned or emergency hospitalisation, where the insured can avail the cashless or reimbursement claim facility. The steps for the cashless claim are:
If the cashless request is rejected, the policyholder can undergo the treatment and pay the bills on own and file for a reimbursement claim later. This claim is also registered if the treatment is taken from a non-network hospital. After getting discharged, a claim should be made by the insured. All the bills related to treatment must be submitted to the insurer. Upon claim acceptance, TATA AIG General Insurance Company Ltd. will reimburse the money by transferring it to the insured’s bank account which is done through NEFT.
The documents required to submit for the claim are:
On submission of the above-required documents by the policyholder, the insurer will notify about claim approval.
A person can purchase Tata AIG MediRaksha: Affordable Health Insurance Plan using two options, online and offline. For buying it online, one can approach Paisawiki.com. Below is the process of how to purchase the policy.
Once the payment process is successful, the policy document will be mailed to the registered email Id.
To buy the Tata AIG Affordable Health Insurance Plan, the following documents are required:
The policy can be renewed online easily through paisawiki.com. The online process consists of the following steps:
On successful payment of the renewal premium, the plan documents will be mailed to the policyholder.
Ans: Yes, one can avail tax benefits under Section 80D of Income Tax Act, 1961.
Ans: The policy has a grace period of 30 days.
Ans: Yes, this plan has a portability option.