The mediclaim insurance policy protects the insured party against unprecedented medical expenses incurred for hospitalization for diseases/ illness/ accidents/ as well as domiciliary hospitalization.

The mediclaim policy includes operation theatre and hospital room charges; expenses incurred due to diagnostic tests, blood transfusions, medicines, oxygen cylinders as well as cost of appliances like artificial limbs pacemakers etc.

This mediclaim policy is ideally suited for

Individuals aged between 5 and 75 years of age.

Children have to be insured with their parents (age group: 3 months –5 years).

• Government employees and employees of private companies
• Bona-fide members of Clubs or associations.

The three key features of the mediclaim policy are

1. Risks covered
2. Compensation Offered
3. Exclusions

Risks covered

This mediclaim policy protects the insured from the risks of hospitalization due to illness or disease, or injury due to accidents.

Compensation offered

The mediclaim policy will provide compensation for

Hospitalization expenses based on actual and subject to the sum insured.

Domiciliary hospitalization charges based on actual and subject to the sum insured.

Exclusions

This insurance policy will not pay any claims arising from

• Disease or injury incurred within 30 days of commencement of policy will not be covered.
• Injury due to accidents within 30 days of commencement of policy will be covered.
• Disease already in existence at the time of treatment, Pre or post hospitalization treatment of asthma, hypertension,chronic nephritis, diabetes, gastroenteritis, epilepsy, cough or cold, influenza, pyrexia, tonsillitis, psychiatric orpsychosomatic disorders, arthritis, rheumatism or any treatment relating to any illness will also not be covered.
• Naturopathy treatment.
• AIDS.
• Costs of spectacles or contact lenses or hearing aids.
• Vitamins or tonics not forming part of the treatment.
• Hospital/ nursing charges inconsistent or non-incidental to the diagnosis or treatment.
• Convalescence, general debility, sterility, venereal diseases, intentional self-injury or use of intoxicants.
• Vaccination, inoculation, circumcision, changes of life, cosmetic or aesthetic treatment, plastic surgery unless thetreatment necessitating hospitalization is necessary.
• Any treatment related to pregnancy, childbirth or voluntary termination of pregnancy during the first 12 months afterpregnancy.
• Cataract, benign prostatic hypertrophy, hysterectomy for menorrhagia on fibromyoma, hernia, hydrocele, congenitalinternal disease, fistula in anus, sinusitis and related disorders in the first year of cover under the contract.
• Nuclear or war perils.

The mediclaim policy is offered by:

• The New India Assurance Company Ltd. (NIAC)
• United India Insurance Company Ltd. (UIIC)
• The Oriental Insurance Company Ltd. (OIC)
• National Insurance Company Ltd. (NIC)

The Government announced that under the Rajiv Gandhi Shilpi Swasthya Bima Yojna about 40 lakh artisans would be provided health insurance coverage over a period of five years.

Launched during the eleventh plan period the “Rajiv Gandhi Shilpi Swasthya Bima Yojna (RGSSBY) has covered about nine lakh artisans so far for health insurance.

The Textile Minister Shankersinh Vaghela said that he hopes to cover about 40 lakh artisans by…

First we, remixed old hindi film numbers, then fashion styles (Sushmita Sen teamed a saree with a spagetti in Main Hoon Na?). Food too, chinese bhel and paneer pizzas.

We also remixed financial products. Unit linked insurance is a classic example. Now, there’s one more — unit linked health insurance. That’s unit linked investments plus medical insurance for you.

What is a unit linked health insuranc…

Health insurance industry is expected to grow at about 50 per cent per annum, Insurance Regulatory and Development Authority Chairman C S Rao said here on Friday.

On the sidelines of the First Health Insurance Summit organised by CII, Rao told reporters that the premium collected under health insurance was only about Rs 600 crore when he took over as Chairman of the regulatory body in 2003.

Whereas, during 2006-07 the premium col…

This is going to be an interesting year for health insurance. While mediclaim will continue to enjoy a reasonable chunk of the market share, we will also see more product innovations particularly related to ‘health income’ type of products which provide fixed payment due to medical situations,” he says. Chak feels that this type of ‘health income’ product, which covers not only the medical expenses but also any related expenses such as transportation cost as well a…