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)

Maximum

55

Maximum Policy Renewal Age (years)

69

Coverage Type

Individual/ Dependent parents upto 65 years of age

Policy Term (years)

1

Sum Insured (Rs)

Maximum

10 lakh

Minimum

50000

No Claim Bonus

5% of Sum Insured for each claim free year upto maximum of 50%

Pre Policy Medical Check Up

Not required upto 45 years of age

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

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

Day Care Procedures

141 in number are covered

Emergency ambulance

covered upto Rs 2000 per insured per policy year

Additional benefits (on payment of extra premiums)

General health check up

covered as per policy conditions

Eye examination

covered as per policy conditions

Hospital daily allowance

covered ranging from Rs 75 to Rs 1000 depending on basic sum insured

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

Other exclusions

treatment of cataract, hernia, sinusitis, hydrocele etc.dental treatment, HIV/aids and related conditionsNon-allopathic treatment