New India Assurance : a closer look

Established in 1919, New India Assurance is one of the oldest insurance companies in India and has a strong hold in the insurance market. New India Assurance offers insurance via whopping 160 products, and it a leader in the non-life insurance sector. Apart from providing insurance to individuals, New India Assurance also offers insurance to large companies, small and medium enterprises, commercial insurance, rural, micro insurance etc. On the international circuit, it has offices in over 20 countries through different channels.

In India, New India Assurance (IRDA Reg. No 190) hold over 3000 offices across India. The company has been conferred an AAA/Stable rating by CRISIL, which is a reflection of the company’s financial stability and solubility, which in turn talk about the strong ability of the company to fulfill the claims of their customers.

Features

of members-The plan covers maximum 6 members of your family with up to 4 children and 2 adults.
Lifelong Renewal – The plans offered are lifelong renewable hence it saves you from the financial burden and stress caused by a medical emergency and keeps you well prepared to handle any situation.
Pre & Post hospitalization cover– The plan covers medical expenses for 30 days prior to hospitalization and 60 days post hospitalization only for related medical expenses.
Health Check-ups – Offers health check-up costs at the end of three claim free years.
Pre-existing diseases– Pre-existing diseases are covered after 4 years of waiting period

Benefits of New India Assurance Health Insurance

Fully owned by the Indian Government and is one of the biggest insurance provider in the public sector.
Being a public sector company automatically makes it more trustworthy. This is backed by the fact that they have an AAA/Stable rating from CRISIL, which is a testament to their great financial health and their ability to fulfill their customers’ claims.
New India Assurance health insurance has over 3000 offices all over India and are probably the most easily accessible health insurance company.

Products offered by New India Assurance Health Insurance

New India Top Up Mediclaim

The policy can be allotted on Individual or Floater Sum Insured basis covering up to 6 members of the family. If the policy is to be issued on Individual Sum Insured basis, then separate document will be issued to each Insured. Family comprises of Self, Legal Spouse, dependent Children and dependent Parents.

This Policy covers In–Patient Hospitalization Expenses incurred in India.
This Policy offers protection in excess of any Primary Health Policy/Benefit scheme that the Insured may have. This policy will respond only when the aggregate of all Hospitalization expenses (except Pre / Post hospitalization expenses) of one or all members of the policy, exceeds the “Threshold” stated in the policy.
The Sum Insured is the maximum liability of the company for all members of the policy.
Age of Entry: Proposer : 18 to 65 years Other members : 3 month to 65 years
Sum Insured offered from Rs. 5 lac to Rs 22 lac

Note:

Pre–acceptance health check–ups will be required in the following instances:

For persons above 50 years of age OR
For persons with Adverse Medical/claims history.

Enhancement of Sum Insured and Threshold is available only at the time of renewal.

Mediclaim 2012 Policy

This is an individual health insurance plan launched by New India to cover basic hospitalization expenses.

This is a basic plan which offers coverage in the range of Rs.2 lakh and Rs.8 lakh for individuals between age 18 years and 65 years.
Dependent children between age 3 months and 25 years can be covered only if one of the parents are covered.
Pre and post hospitalization expenses, no claim bonus, health check-up (every 3 years), etc. are the benefits provided in this plan.

Note:

The sum insured is in the range of Rs.1 lakh and Rs.3 lakh for individuals above age 55 years.
Sub-limits (room rent limit, ICU rent limit, etc.) are applicable in this plan.
The premium amount for this plan would differ with geographical zones.
Co-pay (amount to be paid by the individuals themselves for each claim) is applicable in case of treatment in different geographical zone.

Mediclaim 2007 Policy

Before the launch of Mediclaim 2012, this was the most basic plan offered by New India to cover hospitalization expenses.

Co-pay (amount to be paid by the individuals themselves for each claim) is applicable in case of treatment in different geographical zone.

In case you wish to know more about this plan, please contact.

Janata Mediclaim Policy

Janata Mediclaim policy is an affordable health insurance plan available for poorer section. The coverage offered under this plan are:

This policy offers health coverage of INR 50,000 and INR 75,000 for individuals between age 3 months and 60 years.
Pre and post hospitalization expenses, coverage for day care procedures, ambulance charge expenses cover, etc. are the benefits provided in this plan.

Senior Citizen Mediclaim Policy

As the name suggests this plan is available specifically for senior individuals above age 60 years seeking a mediclaim policy. Coverage offered under this plan is briefly stated below:

This policy offers coverage of Rs.1 lakh and Rs.1,50,000 for senior citizens between age 60 years and 80 years.
Pre and post hospitalization expenses, ambulance charges, etc. are covered in this policy.

Personal Accidental Policy

This is personal accident disability plan offered by New India. Here is a brief of benefits offered by this plan:

This policy offers compensation in case of accident related incidences for individuals between age 5 years and 70 years.
The sum insured value is equal to income for 6 years of employment. For non working spouses the sum insured is 50 % of earning spouse’s income.
The coverage options are divided into tables.
Table D– This option will provide compensation in case of accidental death
Table C– In this option, in addition to coverage under table D, it covers permanent total disability, loss of limbs, etc.
Table B– In this option, along with coverage in table C, it provides coverage in case of permanent partial disability.
Table A– In this option, along with coverage in table B, it provides coverage in case of temporary total disability.

Rasta Apatti Kavach (Road Safety Insurance)

In case you travel daily by road and want to secure yourself against road accident here is a brief on coverage offered by Rasta Apatti Kavach:

This policy provides coverage specifically for road accidents in the range of Rs.25, 000 and Rs.1 lakh
There are two sections under this policy.
Section I– Offers compensation cover in case of personal accident
Section II– Covers medical expenses incurred during treatment of accident related injuries during hospitalization.

If you want to buy this plan and are interested to know more about it, contact.

Union Health Care Policy

This is a health insurance plan with coverage for personal accident. Given below are details of coverage offered:

This policy offers coverage to individual between age 5 years and 65 years and dependent children between age 3 months and 5 years.
Pre and post hospitalization expenses, personal accident cover of Rs.1 lakh, etc. are the benefits provided in this plan.

In case Union Health care policy is suitable for your needs and you wish to know more about it, contact.

New India Asha Kiran Policy

This is a special family floater plan which is offered only to parents having girl child. Coverage offered under this plan is:

It covers health cost of entire family in the range of Rs.2 lakh and Rs.8 lakh.
There are two sections of this plan
Section I- This section covers hospitalization expense including benefits like hospital cash allowance, critical illness cover, treatment of congenital, etc.
Section II- This section provides compensation in case of accidental death, permanent total disability, etc.
Hospitalization benefit, extra coverage in case of critical illness (10% of sum insured after diagnosis), coverage for day care procedures, maternity benefits, etc. are the benefits provided in this health insurance plan.

Note:

Sub-limits are applicable for coverage under section I plan.
The premium amount under section I would differ with geographical zones.
Co-pay is applicable in case of change in geographical area for treatment under section I.

Family Floater Mediclaim Policy

This is a family floater plan which offers coverage for basic hospitalization expenses. The details of coverage offered under this plan are as follows:

This is a family floater plan which covers health costs of the entire family in the range of Rs.2 lakh and Rs.5 lakh.
A maximum of 2 dependent children, proposer and proposer’s spouse can be covered under this policy.
Pre and post hospitalization expenses, coverage for day care procedures, loyalty discount, etc. are the benefits provided in the plan.

Note:

The premium amount for this plan would differ with geographical zones.
Co-pay is applicable in case of change in geographical area for treatment.
Sub-limits are applicable in this plan.

New India Floater Mediclaim Policy

This is a health insurance plan with additional coverage for critical illness. It offers coverage on a family floater basis. Some coverage offered under this plan are as follows:

This is a family floater plan which covers health costs of the entire family in the range of Rs.2 lakh and Rs.8 lakh.
Policy holder, spouse and 2 dependent children (up to age 25 years) can be covered under the same policy.
Pre and post hospitalization expenses, coverage for day care procedures, maternity coverage, etc. are the benefits provided in this plan.
Additionally, after diagnosis of critical illness it is covered for 10% of sum insured.

Note:

The premium amount for this plan would differ with geographical zones.
Co-pay is applicable in case of change in geographical area for treatment.
Sub-limits are applicable in this plan.

Claims process at New India Assurance Health Insurance

If you intend to make any claim under this Policy You must:

Immediately intimate TPA/Policy issuing office (as the case may be) in writing on any Disease/Injury being suffered before Hospitalization.
Intimate within twenty four hours from the time of Hospitalization in case of Hospitalization due to medical emergency.
Submit following supporting documents to TPA/Policy issuing office (as the case may be) relating to the claim within seven days from the date of discharge from the Hospital:
- Bill, Receipt and Discharge certificate / card from the Hospital.
- Cash Memos from the Hospitals (s) / Chemists (s), supported by proper prescriptions.
- Receipt and Pathological test reports from Pathologist supported by the note from the attending Medical Practitioner / Surgeon recommending such Pathological tests / pathological.
- Surgeon’s certificate stating nature of operation performed and Surgeons’ bill and receipt.
- Attending Doctor’s/ Consultant’s/ Specialist’s / Anesthetist’s bill and receipt, and certificate regarding diagnosis.
- Certificate from attending Medical Practitioner / Surgeon that the patient is fully cured.
In case of Post-Hospitalization treatment (limited to sixty days), submit all claim documents within 7 days after completion of such treatment.
Provide TPA/Policy issuing office (as the case may be) with authorization to obtain medical and other records from any Hospital, Laboratory or other agency.
In case you need to reach out to the company directly, you can contact them at their toll free number 1800-209-1415 or you can also write to customercare.ho@newindia.co.in.

Review of New India Assurance Health Insurance

New India Assurance, being one of the major and oldest general insurance companies in India, is more widespread than any other health insurance player. With remarkable financial health, their capability to fulfill their customers’ claims is undeniable. However, for those who would not appreciate the sub-limits on the room rent and co-payment clause in their policy, this may not be the right option.

Benefits of New India Assurance Health Insurance

Fully owned by the Indian Government and is one of the biggest insurance providers in the public sector.
Being a public sector company automatically makes it more trustworthy. This is backed by the fact that they have an AAA/Stable rating from CRISIL, which is a testament to their great financial health and their ability to fulfill their customers’ claims.
New India Assurance health insurance has over 3000 offices all over India and is probably the most easily accessible health insurance company.