Objective

An online health insurance policy that aims to cover individuals against basic hospitalisation expenses along with 10 major critical illnesses on an optional basis.

Suited for

Anyone fulfilling the eligibility criteria may buy this policy. It can also be bought as a family cover to avail a discount on premium, but each member will be covered for a separate sum that cannot be shared with any other insured member.

What does it do?

There are two special features under this policy. First, by paying 40 per cent extra of basic premium, one can cover against 10 critical illnesses for an amount equal to twice the basic sum insured. Second, the policy provides an Emergency Assistance Service to assist in medical emergencies with medical consultation, medical evacuation, care for minor children, cash coordination and other tasks.
It covers inpatient hospitalisation expenses, pre and post hospitalisation expenses, ambulance charges and provides for health check-up once in a block of four claim free years.

Pros

There is a discount on buying a policy for two or more family members.
This policy can be bought online.
Premium paid towards this policy qualifies for tax relief under Section 80D of Income Tax Act.

Cons

There is a capping on room and boarding charges .
It covers only 10 critical illnesses.

Our View

Additional cover for critical illness and Emergency Assistance Service are useful. Those looking for a simple and a basic health insurance policy may go for it. Extending the policy to cover other members in the family will also fetch a discount on premium.

Eligibility

Entry Age (years)

Minimum

5

Maximum

55

Coverage Type

Individual

Policy Term (years)

1

Sum Insured (Rs)

Maximum

5 lakh

Minimum

50000

Discount

5% for 2 people and 10% for 3 or more people

No Claim Bonus

5% of Sum Insured for each claim free till it reaches 50% of sum insured

Pre Policy Medical Check Up

Required above 45 years of age

Customer Service

Address

Corporate Office:
IFFCO TOWER
4th & 5th Floors
Plot No.3, Sector 29
Gurgaon-122001
Haryana (India)

Call to

1800-103-5499(toll free) or 0124-4285499

SMS

CLAIM' to 56677

Network Hospitals

Https://www.paramounttpa.com/ProviderNetwork/ProviderNetwork.aspx

Scope Of Cover

Cashless facility

available if taken in a network hospital

Reimbursement facility

available if treatment taken in non-network hospital

Pre hsopitalisation and post hospitalisation expenses

covers expenses for 60 days prior and 60 days after discharge from hospital

In patient hospitalisation

Room, boarding and nursing charges

covered upto 1%(2.5% if admitted to ICU) of sum insured per day.

Hospital Daily Allowance

pays a daily cash amount if hospitalised

Domiciliary hospitalisation benefits

covered

Emergency Assistance sevice

provides medical consultation, emergency medical evacuation, care for minor children, emergency cash coordination etc

Local Ambulance service

covered

General health check-up

covered once after 4 claim free years

Additional Cover (requires payment of additional premium)

Critical Illness

covers 10 critical illnesses for twice the basic sum insured

Exclusions and Waiting Period

Pre-existing diseases

will be covered after 3 years of continuous policy renewal

No claim period

initial 30 days

Waiting period

certain illnesses such as hernia, cataract,, sinusitis and related disorders etc. will be covered after first year of insurance

Other exclusions

naturopathy or other non-allopathic treatmentsOut patient treatment, AIDS or related conditions