Objective

An offline health insurance policy designed to cover a family on a floater sum insured basis where a single sum insured can be shared or utilized by any of the insured family members.

Suited for

It can cover up to two adults and three kids under a single policy.

What does it do?

Besides hospitalisation expenses, it covers pre and post hospitalisation expenses and ambulance charges and day care treatment for illnesses where overnight stay is not required. It also pays for crutches, wheelchair and other external aids if it is related to the illness for which claim has been accepted by the insurer. A pre-specified daily benefit is paid in case of hospitalisation as an inpatient and nursing care taken at home. It also offers a special reminder service known as Chola Wellness Health Alert Services (CWHAS) so that policyholders don't miss on important tasks such as payment of premium on time.

Pros

There are no sub-limits under hospitalisation benefit.
It pays a no claim bonus on an annual basis.
Chola Wellness Health Alert Services will prevent missing on important events.
Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.

Cons

Lower maximum age of entry.
It does not provide lifetime renewal option.

Our View

A health insurance policy for those looking to cover family under a single sum insured. A major drawback is that this policy can be renewed only up to 69 years of age. When the policyholder outlives maximum policy renewal term, he will have to purchase a new policy at an age where either insurers are not willing to insure a high risk life or they demand very high premiums with lots of exclusions and conditions. Policies offering lifelong renewal option must be preferred.

Eligibility

Entry Age (years)

Maximum

45

Maximum Policy Renewal Age (years)

69

Coverage Type

Family floater

Policy Term (years)

1

Sum Insured (Rs)

Maximum

5 lakh

Minimum

2 lakh

No Claim Bonus

5% of Sum Insured for each claim free year

Grace Period for Policy Renewal

15 days

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

customercare@cholams.murugappa.com

Call to

044-3044 5400, 1800-200-5544 (Toll Free)

SMS

SMS "CHOLA" to 56677

Network Hospitals

Http://www.cholainsurance.com/nwhosp/

Scope Of Cover

Sum Insured (In Rs.)

5 lakh

4 lakh

3 lakh

2 lakh

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

Room rent per day

upto Rs3000

upto Rs2500

upto Rs2000

upto Rs 1500

Day Care Procedures

141 in number are covered

Emergency ambulance

covered upto Rs 1000 per policy year

External aids

covers Abdominal belts and Trusses (used post-hernia and related surgeries), Belts for prolapsed Inter-vertebral Disc, Artificial limbs, Crutches and Wheel-chair for maximum upto Rs 10000

Home nursing care allowance daily benefit

upto Rs 300

upto Rs 300

upto Rs 200

upto Rs 200

Hospital daily allowance

upto Rs 500 per day for 14 days

upto Rs 400 per day for 10 days

upto Rs 300 per day for 7 days

upto Rs 200 per day for 7 days

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

Waiting period

1 year for certain illnesses such as hernia, cataract, sinusitis etc.

Other exclusions

dental treatment, HIV/aids and related conditions