Bajaj Allianz Health Insurance Plans
A good health insurance policy should do three things:
- Ensure that you and your family get the best medical care possible when you need it.
- Cover you financially against the costs of treatment and hospitalization.
- Give you complete peace of mind.
Bajaj Allianz's medical insurance plans have everything mentioned above. Our health insurance policies ensure that you and your loved ones get access to immediate care at the best hospitals without wiping out your hard-earned savings on these medical expenses.
Bajaj Allianz offers a wide range of affordable policies to cater to the diverse needs of customers. With cashless treatment across a huge network of hospitals and hassle-free claims settlement, our health insurance plans are designed to make life simpler for you during a stressful medical emergency situation.
Here's what sets us apart:
- We have the highest claim settlement ratio among health insurance companies in India.
- We settle cashless claims within 1 hour - the fastest turnaround time among health insurance providers in India.
Types of Health Insurance Policies – Catering to Diverse Needs
Get complete protection for yourself and your family from unforeseen medical expenses due to accidents-- not just in India but also when you are travelling abroad.
Vector borne diseases account for a large chunk of infectious diseases. Mosquito being the most common carrier. Bajaj Allianz brings to you a one stop solution for taking care of the most common vector borne ailments.
Why buy your Health Insurance Policy from Bajaj Allianz?
As one of the best health insurance companies in India, we understand that every individual has unique needs and expectations from a medical insurance policy. That's why our products are packed with a wide range of features and benefits.
- Peace of mind : Medical emergencies often come without warning. And end up taking a toll on your financial health. With a good health insurance policy, you can be secure in the knowledge that you and your family are financially protected against unforeseen health care expenses.
- Get the best medical care : The only thing you should think about in a medical emergency is getting the best care possible, not how much it is going to cost you. Our health insurance plans enable you to get treatment from the best hospitals and doctors.
- Cashless settlement : Bajaj Allianz is empanelled with a large network of hospitals across the country. You can get cashless treatment at any of them - just inform our team and we will take care of everything.
- Hassle-free claims : Our claim processes are designed to be as hassle-free as possible for you. You can benefit from the following:
- 24x7 on-call support.
- An in-house Health Administration Team to ensure a seamless and quick claims settlement process.
- One of the fastest turnaround times in the industry - under one hour for cashless settlements.
- One of the highest claims settlement ratios among health insurance providers in India.
- Health CDC benefit : Quick claim settlement through app.*
- Comprehensive coverage : Choose from a wide range of affordable health insurance policies to cover you and your family against medical expenses, critical illnesses and accidents. Add top-up plans for extra coverage.
- Affordable plans : Enjoy maximum coverage at a price that is easy on your pocket.
- Preventive care : Get free medical check-ups once every three claim-free years.*
- Ease of transaction : Buy or renew your policy in just a few clicks online.
*Health CDC (Claim by Direct Click) is a feature in the Bajaj Allianz Insurance Wallet App which enables you to raise claim requests up to Rs 20,000 through the app. This is the easiest way to make claim requests. You can upload all the required documents in the app and get regular status updates on your claim. The entire process is paperless and saves both time and money.
How to Save Tax with a Health Insurance policy?
A health insurance plan is designed to provide you with financial support when you are faced with medical and hospitalization expenses. But it also gives you the added benefit of great tax savings.
You can claim a tax exemption of upto Rs 1,00,000 on a Bajaj Allianz medical insurance policy under Section 80D of the income tax act. Here's how:
- Get a deduction of upto Rs 25,000 on premiums paid towards health insurance plans for yourself, spouse, children and parents, if you are under 60 years of age.
- Claim a tax exemption of upto Rs 50,000 on premiums paid towards a medical insurance policy for parents who are senior citizens (above the age of 60).
- If you are under 60 and your parents are above 60, you can avail both the exemptions (a total of upto Rs 75,000).
- If you are above 60, you can claim an exemption of upto Rs 1,00,000 on premiums paid towards yourself, spouse, children as well as for your parents.
Things to keep in mind when buying a Health Insurance Plan
Medical insurance is extremely important for your physical, mental and financial health. So, choosing the right policy that meets your unique needs is important. But how do you choose the right plan from the many options available? What are the factors you must consider? We have put together a guide that can help you make a better decision.
- Claims Process and Ratio : The reason you buy a health insurance policy is to protect yourself financially if you need to undergo medical treatment. It is, therefore, important to consider both the claims process and the claims ratio. You should not have to run around to get your claims money. The smoother and more efficient the claims process, the better will be your experience with the policy. The claims ratio, on the other hand, will give you an idea of how many claims an insurer settles – the higher the ratio, the better for you.
- Features and benefits: Different insurance plans come with different features and benefits. Check if the plan you are considering has the features you need.
- For example, if you are planning a family, you may want to make sure your health insurance policy covers maternity benefits.
- Some plans offer to cover pre and post hospitalization expenses in addition to hospitalization costs.
- Does the plan offer cumulative bonus for not making claims? If you are young and healthy, this may be a good benefit.
- Check for co-payment or voluntary deductible clause – where you would have to pay a certain percentage of the medical bill before the insurance company pays out the rest.
- Medical check-up: Does the policy cover medical check-ups? Some do, some don't.
- Cashless claims and hospital network: This is one of the most important factors. Make sure that the policy you buy is supported by a large network of hospitals across the country. Ideally, you want to make sure that the company has a tie-up with good hospitals in your city, where you can make a cashless settlement.
- Exclusions: Most policies will exclude coverage for pre-existing conditions for a period ranging from 1-3 years. The shorter this period the better for you. Some policies also exclude coverage of medical expenses for a fixed period after buying a policy (could range from 30-90 days). Make sure you check the waiting period.
- Ease of buying and renewal: It should be easy, smooth and quick for you to buy a policy. You should be able to buy it from multiple channels – online, mobile, offline. Another important factor to check is the renewal processes. Ideally, you want a policy that offers lifetime renewability.
- Customer support:It is important that your policy is backed by excellent customer support – offered through phone, mail and mobile app. You may have many questions, especially in a medical emergency, for which you need answers quickly. Good service can make a big difference to your peace of mind
Bajaj Allianz aims to make life as easy for our health insurance customers as possible. We offer a wide range of benefits, including efficient and quick claims settlement, one of the highest claims ration in the industry, 24x7 customer support and easy policy buying and renewal.
What expenses does a Health Insurance Policy Cover?
Most policies will cover costs of hospitalisation; some will also cover pre and posthospitalisationpost hospitalisation expenses. Remember, that pre-existing diseases or conditions will not be covered if the treatment is within the waiting period.
What is covered under hospitalisation?
The following expenses are usually covered:
- Room rent
- Doctor's fees
- Nursing expenses
- ICU charges
- Operation theatre
What is covered under pre-hospitalization?
Costs incurred up to 30 to 60 days prior to hospitalisation are covered by some policies. This includes:
- Cost of check-ups and investigations
- Consultations with doctors
- Cost of medicines
What is covered under post-hospitalization?
Coverage could range from one month to three months after hospitalization, and will include:
- Consultation with doctors
- Cost of medicines
- Check-ups and investigations
- Recovery and rehab costs
Some policies also cover ambulance charges and home treatment. Do check if any sub-limits apply. Sub-limits put a ceiling on expenses under each head. For example, your plan may offer only Rs 3000 a day as room rent. If no sub-limits apply, you can claim on actuals.
Remember, for smooth processing of your claims, you must support them with adequate documents such as original bills, hospital discharge papers etc.
Exclusions: What your Medical Insurance Plan won't cover
A health insurance policy does not mean blanket coverage of all medical treatment that you undergo. Every policy comes with some exclusions. The most common exclusions include:
- Pre-existing diseases or conditions: When applying for a new policy, you will not get coverage for diseases or conditions you may already be suffering from such as heart disease, kidney disease, diabetes, cancer etc. Some policies do offer cover for pre-existing ailment but after a waiting period of usually one to three years
- Alternative therapies: Some policies do cover ayurvedic and homoeopathic treatment but not other alternative therapies such as naturopathy, acupuncture etc.
- Dental and cosmetic surgeries and treatments: Health insurance policies cover dental and cosmetic surgery only if it is required medically after an accident. Otherwise, they are not covered. Neither are surgeries such as bariatric surgery for weight loss, hair transplant etc.
- Self-inflicted injuries or those sustained during dangerous sports: Treatment for self-inflicted injuries or injuries sustained while attempting suicide are not covered by health insurance. Neither are injuries sustained while participating in adventure and other dangerous sports.
- Waiting period: Most policies won’t offer you cover for any kind of medical expenses during the mandatory waiting period, which could range from one month to three months of buying a policy.
- Other exclusions include injuries sustained during war, HIV-related treatment, congenial diseases etc.
What are the documents required to buy a Health Insurance Plan?
When you apply for health insurance, the insurer will ask you for a set of documents. These will include your KYC documents (age proof, ID proof and address proof) as well as medical documents (depending on your age you may even have to undergo a medical check-up).
Here's a list of documents that you may have to keep ready:
- Age proof: Copy of voter ID, driving license, passport, Aadhaar card, birth certificate, school leaving certificate etc
- Address proof: Copy of latest utility bill (electricity, mobile, landline, gas), passport, ration card, Aadhaar card etc
- ID Proof: PAN card, Aadhaar card, Passport, Driving License, Voter ID etc
- Photos: 3 passport-size photos
- Medical reports: If you are over a certain age, you may need to undergo a medical check-up before a policy is issued to you.
What is Health Insurance Portability? What are the benefits?
Continuity is an important concept in health insurance. Continuation of a policy brings one significant benefit – no waiting period for pre-existing conditions. Earlier, if you were unhappy with your insurance company, you had no way of switching to a new insurer along with the benefits you may have accumulated. Your options were to stay with your existing insurer to enjoy the benefits of continuity or forgo the benefits and switch to a new provider.
Health insurance portability changed all that. In 2011, IRDA (Insurance Regulatory and Development Authority of India) introduced portability. Thanks to it, you can now easily switch from one insurer to another and maintain the continuity of your policy, especially with regards to waiting period for pre-existing conditions.
You can port from a general insurance company to a specialized provider and vice versa. You can port an individual or family policy. The minimum sum insured by the new insurer must be as much or more than the previous policy.
How to make the switch? For example, if you want to switch your existing policy to Bajaj Allianz, you can do so only at the time of renewal. You must apply to your current insurer 45 days before your renewal is due.
What are the requirements for Health Insurance Eligibility?
You must be at least 18 years of age to buy a health insurance policy in India. Typically, anyone under the age of 65 can buy a policy. You can even cover children up to 18 years of age in your policy.
If you are over 45 years old, you may be asked to undergo a medical check-up. Those under 45 can get a policy without a check-up.
An insurer may reject your application if you have pre-existing conditions. Or may refuse coverage for that condition. Or may include a waiting period of 1-3 years to provide cover for it.
What is the Health Insurance Claims Process?
Bajaj Allianz offers a smooth and efficient health insurance claims process. You can make a cashless claim in its huge network of partner hospitals or claim reimbursements for medical expenses you may have incurred on your own.
To make cashless claim, just get admission to a Bajaj Allianz Network Hospital in your vicinity and fill up the cashless request form. The hospital will get your claim verified by the Bajaj Allianz Hospital Administration Team (HAT). Once your claim is approved, you will get treatment without any deposit or payment.
To claim reimbursement, you can register your claim online, over a phone call, via mobile app or offline. Attach all documents including the reimbursement form, medical bills, hospital bills and discharge papers, etc along with your claim. Your claim will be evaluated by the Bajaj Allianz team and, on approval, the money will be paid into your account.
For detailed information on the claims process, forms, checklist etc, please visit the Bajaj Allianz Health Insurance Claims Page
Important concepts you should know about your Health Insurance plan
- Sum Insured : This is the maximum amount of money you can claim against medical expenses in one policy year. Let's assume you buy a health insurance policy for a sum insured of Rs 5 lakh. Now suppose you make a claim of Rs 2 lakh during the year to cover some healthcare expense. What happens to the remaining Rs 3 lakh? You remain covered for that amount for the rest of the year.
- Premium : When you buy a medical insurance policy, you must pay a certain amount periodically (monthly, quarterly, half-yearly or annually) to get the cover you need. This is called the premium, and the amount you must pay depends on many factors, including total sum insured, age, medical condition and physical fitness.
- Pre- and Post-Hospitalization Expenses : Medical treatment often begins before hospitalization and continues after discharge. Health insurance policies cover not only hospitalization costs but also expenses you may incur before and after the hospitalization on consultations, medicines, investigations etc. Check the duration of cover before you buy health insurance.
- Co-Payment : Co-payment or Co-pay is a fixed percentage of the claim that an individual must pay towards his medical expenses while the insurance company pays the rest. For e.g. if your medical insurance plan has a 10% Co-Pay clause and your claim amount is Rs 1,00,000, you must pay Rs 10,000, while the insurer will pay Rs.90,000.
- Deductible: This is a fixed amount an individual must bear from his own pocket. The insurance company's liability starts above this amount.
- Ambulance Charges : This is an additional benefit offered by most health insurance policies. It compensates you for the charges that you incur for using an ambulance service in an emergency. The amount of cover varies across policies.
- Day-Care Procedures : Many medical procedures do not require 24-hour hospitalization. These are called day-care procedures. Many health insurance policies nowadays cover these procedures in addition to longer hospitalization.
- Network Hospitals : Most insurance companies empanel or tie-up with hospitals across the country to provide better medical services to their customers during their time of need. These hospitals are referred to as network hospitals. You can benefit from the cashless facility at these hospitals - just inform the insurance company and it will co-ordinate directly with authorized hospital.
- In-House Claims Team vs Third Party Assistance (TPA) : An insurance company may use its own staff to process and settle claims (an in-house team) or it may outsource the claims process to a third party (TPA). An in-house team enables a health insurer to deal with claims directly and provide better service to customers.
- Hospital Cash : An add-on to your health insurance policy that gives you a daily cash allowance to cope with the ancillary expencess related to hospitalization.
- Health Insurance Quote : A quote is an estimate of the cost or premium you will have to pay for the policy you need. An insurer will ask you a set of questions to determine your requirement before giving you a quote.
Other Health Insurance Plans
Health Care Supreme
Take care of medical expenses at every stage of your life.
Get an additional cash allowance during hospitalization to cover additional expenses.
A health insurance policy designed exclusively for senior citizens.
Get cover for health risks, household contents and education grant.
Enjoy comprehensive health protection for yourself and your family.
Maximize your tax savings with this unique product - a family floater health policy.
Insure yourself against accidental injury and death and provide financial security for your dependents.
Critical Illness for Women
A health insurance plan designed specially for women.
Premium Personal Guard
Get a premium cover of up to Rs. 25 lakh against accidents.
Get a Rs 10-lakh top-up on your existing health cover for as little as Rs 2500.
Awards and Recognitions
Tal.Port wins the prestigious global honour Celent Model Insurer Award 2019
Celent Model Insurer is an annual honour awarded to insurance companies for best practices of technology usage in different areas critical to success in insurance. The award was received by Mr Vikramjeet Singh, Chief HR Officer & Mr Saurabh Kapoor, Head, Talent Acquisition at a glittering award ceremony in New York, USA.