The Oriental Insurance Company has got a number of health insurance services, they are: 1. Bhavisya Arogya, 2. Gramin accident insurance, 3. Group insurance Policy, 4.Individual Mediclaim Policy, 5. Jan Arogya Bima, 7. Universal health Insurance Scheme.
All the policies mentioned above are covers for reimbursement of expenses for hospitalization/domiciliary hospitalization of the insured for all Indian in respect to the following situation: (A) In case of sudden illness. (B) In case of sudden accident and (C) In case of any surgery which is required in case of any disease which has arisen during the policy period.
Agents and experts of the company advise to go for a group insurance policy because the premium charges are lower for the sum insured. This is because the individual gets a group discount. For a coverage of Rs.100,000 the insured would have to pay a premium of Rs.5,196 and get a coverage for expenses of hospitalization, pre and post hospitalization and day care for a period of one year. This would also provide cashless facility.
Most of their agents and experts suggest the two plans which are most in demand: ‘The individual plan’ and ‘The family Floater plan’. The scope of the family floater plan is wider than the individual plan. There are two schemes under this plan, the ‘silver plan’ and the golden plan. For the silver plan the sum insured ranges from Rs. 100,000 to Rs.500, 000 and that for the golden plan the sum insured ranges from Rs.200, 000 to Rs.10, 00,000. The advantage of the golden plan is that a person below 18yrs. can get insured for 50% of the specified amount in the golden plan. The entry limit of a person to be insured is maximum 55yrs and renewals would be accepted up to the age of 65.
The coverage meted out by the insurance company is almost the same as other companies. That is both cashless and reimbursement facilities are available. Under both the silver and golden plan 1% of the sum insured is reimbursed for boarding, 2% of sum insured for ICU charges and surgeon, medicine, oxygen, operation theater charges as per limit of the sum insured. However the sum for ambulance charges is more for the golden plan (Rs.2000 as against Rs.1000 for the silver plan. The ‘Daily hospital cash allowance’ comes only under the golden plan which is 0.1% of sum insured.