Bajaj Allianz General Insurance
Another health insurance policy from Bajaj Allianz General Insurance Co. Ltd. is the SankatMochanHealth Plan. This plan ensures complete coverage for expenses incurred due to accidents.
It covers death, permanent disability, temporary disability, accidental hospital cash and accidental hospital expenses.
The FEATURES of this policy are:
· Highest compensation of 125% of sum insured in case of permanent total disability
· 100% of sum insured on death
· Between 2% for damage to a toe to 70% of sum insured for damage to an arm at shoulder joint or leg above mid thigh in case of permanent partial disability
· Medical expenses reimbursed in case of hospitalization due to an accident
· No medical check up required
· Daily hospital confinement allowance payable in case of hospitalization due to an accident
· Inbuilt children’s education bonus benefit
· In case of temporary total disability 1% of sum insured per week or Rs.5000 per week will be payable (whichever is lesser) subject to a maximum of 100 weeks
· A policyholder can choose from 16 existing plans and the premium amount due will depend on which plan has been chosen
· Only the Comprehensive cover is not for children
ELIGIBILITY:
· The entry age for the proposer is between 18 years to 65 years. A policy can be renewed till the proposer is 65 years of age
· Entry age of children is from 5 years to 21
· This policy can only be given to Risk Classes 1 and 2 only
· Risk Class 1 are people engaged in administrative or managing functions, accountant, doctor, lawyer, architect, consulting engineer, teacher, banker and people engaged in similar professions
· Risk Class 2 are people engaged in manual labor, garage or motor mechanics, machine operator, paid driver, cash carrying employee, builder, contractor, veterinary doctor and people engaged in similar professions
A service tax of 10.3% will be added to the premium amounts based on the plan chosen.
Like all other health insurance policies, the premium paid towards this is exempt from tax under Section 80D of Income Tax under the current Act.
EXCLUSIONS:
· Accidental bodily injury
· through suicide, attempted suicide or self inflicted injury or illness
· while under influence of liquor or drugs
· through deliberate or intentional, unlawful or criminal act, error or omission
· aviation or ballooning
· participating as the driver, co-driver or passenger of a motor vehicle during motor racing or trial runs
· participation in any naval, military or air force operations
· Consequential loss of any kind or actual or alleged legal liability
· Venereal or sexually transmitted diseases
· HIV
· Pregnancy, resulting childbirth, miscarriage, abortion or any complications arising out of any of these
· War
· Nuclear energy, radiation
Details of coverage that this policy offers are:
|
COVERAGE |
DETAILS |
ELIGIBILITY |
|
|
Basic |
Death |
Max. 100 times of monthly income |
Capital SI not to exceed 120 times of average monthly income |
|
Wider |
Death + PTD + PPD |
Max. 60 times of monthly income |
Included in above |
|
Comprehensive |
Death + PTD + PPD + TTD |
Max. 24 times of monthly income |
Included in above |
|
Accidental Hospitalization |
Reimbursement of actual expenses as per terms & conditions |
As per plan opted |
NA |
|
Accidental Hospital Cash |
Rs.1000 per 24 hours of hospitalization, maximum up to 30 days per policy period |
NA |
NA |
A Bajaj Allianz policy can be either bought online from www.bajajallianz.co.in or they may be contacted on their toll free numbers 1-800-225-858 or 1-800-102-5858
The ADVANTAGES of taking the SankatMochan Health Plan from Bajaj Allianz are:
· Cashless facility at over 2400 hospitals across India
· A policyholder can also opt for hospitals other than the ones on the panel of Bajaj Allianz and money will be reimbursed within 14 days after submitting the documents
· Bajaj Allianz has an in-house claim administration department for quicker claim settlement
· This policy also covers terrorism related accidental loss for the victims
· Personal accidental benefits and accidental hospitalization expenses are covered in one single policy