You can actually transfer to any other health insurance company or any other plan that they offer as well as can transfer within the same insurance company’s different plan.

What Policies/Plans are Eligible for Transfer

According to IRDA, all the individual health insurance plans/policies issued by all the non-life insurance companies are eligible for transfer from one company to another health insurance company.  One can even transfer their family floater policies.  One can transfer from individual plan to family floater and vice versa as well provided they fulfill certain criteria.

What it means?

• Transfer or portability means that you can actually transfer the credit gained by the pre-existing conditions as well as any time bound exclusions are all remains the same or can enjoy those benefits without losing out when you transfer them to the new health insurance company.
• This will be only applicable provided there is no break in the premium paid
• You should apply for the transfer of your health insurance plan before 45 days of premium renewal date.

What to do?

• Anyone who wish to transfer from one plan to another or one mediclaim plan to another or from one health insurance company (either private or government owned) to another should get the portability form along with the proposal form and then submit it to the insurance company for their approval or rejection
• The insurance company should communicate back to the insurer within 15 days of applying for the same or else they will no retain the right to reject such a proposal from the insurer

Portability – a welcome option

Such an option of transfer or portability of health insurance policies are an excellent option given to the health insurance policy holders who otherwise were left with no other option either to stick with the existing health insurance company (even if their service and claim approval remained poor due to the fear of losing all the benefits that come attached with it) or to terminate the existing plan and switch to a new plan from other health insurance company and thereby losing all the benefits and exclusions and pre-existing disease benefits from their old plans.

Such choice of changing companies have been a boon for the end users like us who have been made the final authority again by IRDA and is indeed a welcome move.  We should congratulate IRDA for coming up with a good move.

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Take Yоur Needs іntо Account

One оf thе first things yоu ѕhould dо іs tо take аll оf yоur needs іntо account. Whаt dо yоu really need оut оf yоur health insurance plan? Decide hоw much yоu cаn realistically afford tо pay fоr thе cost оf health insurance. Yоu will also want tо figure оut whаt services аrе going tо bе thе mоst important fоr yоur entire family.

Compare Various Benefits

Yоu will also want tо take ѕome time tо compare thе various benefits that different health insurance companies havе tо offer. ѕome may offer low co-payments, and others havе higher deductibles but lower premiums. Thеre аrе ѕome health insurance companies that will provide preventive care and immunizations аѕ well. оncе yоu take а look аt thе benefits available, decide which ones yоu want mоst in yоur family health insurance plan.

Take Time tо Ask Questions

Now іs definitely thе time fоr yоu tо ask questions. Bе sure that yоu totally understand whаt yоu аrе getting іntо. Find оut іf yоu will need special referrals fоr doctor visits оr whether yоu cаn go tо аny hospital. Also find оut іf thе providers yоu already go tо will bе included in yоur family health insurance plan.

Is thеre Coverage fоr Preexisting Conditions?

Another thing tо consider whеn yоu compare health insurance fоr yоur family іs whether thе company offers coverage fоr preexisting conditions. Yоu, yоur spouse, оr even yоur children may havе а preexisting problem, ѕo іt іs important tо find оut іf thiѕ іs going tо bе covered by thе new insurance company.

Find а Plan that Matches Yоur Needs

One оf thе mоst important things fоr yоu tо remember іs that yоu need tо find а family health insurance plan that will meet аll оf yоur family’s needs. Take thе time tо dо ѕome research оn thе various companies, either by phone оr thе internet. Bеforе yоu buy, yоu want tо bе sure that yоu pick thе best health insurance available fоr yоur family.

In thеse days whеn thе cost оf medical care іs ѕo high, havіng family health insurance іs important. Yоu need tо make sure that yоur family іs protected, ѕo start comparing quotes today and get thе family health insurance plan yоu need.

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Features:

• Entire family is covered in single policy
• Long term option of 10 years
• Coverage of 195 daycare procedures
• Cashless facility in 4500 networked hospitals
• Coverage of pre-hospitalization of 30 days
• Coverage of post hospitalization of 60 days
• Creating a separate fund for other medical expenses
• Option to receive maturity fund as per choice
• Tax benefits under 80C and 80D

Since the India First Money Back Health Insurance Plan being a unit-linked health insurance cum investment plan, the value of the fund may go up or down depending upon the prevailing market condition.

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Hospital Cash Insurance will pay you during the time of your hospitalisation starting from Rs. 500 per day and above depending upon the plan you have chose as well as dependent upon the type of illness or accident one has incurred with. This is really not an health insurance but just a supplement to your existing health insurance plan either brought by yourself or by your company.

Features of Hospital Cash Insurance

• No medical examination required
• No documentation needed and instant coverage
• Daily cash benefit of up to Rs. 3000 and above for upto 180 days
• Double accident benefit
• Triple ICU and convalescence benefits
• Automatic renewal of the policy

Such cash benefits will help you cover all the other and additional expenses involved like travel, special diet cost, expenses arising from the person needing to stay in hospital, etc.

Plans with Hospital Cash
There are two types of plan available with the Hospital Cash Insurance by Royal Sundaram namely Silver Plan and Gold Plan. The main difference between these plans is their premium and the benefits almost doubles with the gold plan when compared to the silver plan.  The minimum sum assured per day for the silver plan is Rs. 500 and for the gold plan is Rs. 1000 per day.

Benefits

• You get the illness benefit of daily sum insured during at least 24 hours of hospitalization.
• Also there is a double the illness benefit in case hospitalization arising due to an accident.
• Similarly in case of ICU benefits the benefit payable will be that of the triple of the illness benefit.
• For the convalescence benefit you will get a fixed lumpsum amount as per the plan chosen
• There is a special family discount if 3 or more people are covered in the same plan.

Premium

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Features of Health Ensure

• Coverage of up to 2% of pre and post hospitalization expenses
• Coverage of  pre-existing diseases after 2 years
• Cashless facility at over 2400 hospitals in India.
• Reimbursement of coverage at non-listed hospitals within 14 days
• No medical test required up to age 55
• Free health checkup after 4 years of claim free years
• Coverage of over 130 day case procedures
• Ambulance charges covered up to Rs. 1000
• Special discount of 5% for family coverage
• Finally, I-T Benefit under section 80D

Coverage

• Sum insured of 50,000, 75000 and 1 lakh
• Policy coverage of 3 months to 55 years
• Renewal of upto age 75

Pre and Post Expenses Coverage

Cost of medicines.  Consultation charges of doctors.  Diagnostic tests and more are covered under the pre and post hospitalization coverage.

Limitations

But there are sub limits applicable on room, ICU rentals, etc.  For the room rentals there is a cap or limit of up to 1% of sum insured. While for the ICU rental there is a cap of 2% of SI per day.  There is also a cap of 30% of sum insured per day for the doctors fee, surgeons fee, etc.  For the other diagnostic, ambulance, medicines, surgical appliances, chemotherapy, dialysis, radiotherapy, pacemaker cost, etc., there is a limit of up to 40% of sum insured per illness or injury.

Since there is no TPA involved with Bajaj Allianz, you can contact them directly in case of claim for the Bajaj Allianz Health Ensure, to be reported during hospitalization at the network hospitals.  The claim process remains the same as any other regular mediclaim policy in India.

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Features of Jeevan Arogya

• Financial protection during hospitalization
• Lump sum coverage inspite of medical costs involved
• Increase in health cover each year
• Flexibility of paying premiums and choosing limits
• Availing of no claim benefit
• Automatic date of renewal
• Quick cash benefit
• Term assurance and accident benefit riders

Benefits of Jeevan Arogya

• Hospital cash and major surgical benefits
• Day care procedures covered
• Ambulance and premium waiver benefit

Some of the key benefits of Jeevan Arogya are that the hospital cash benefit will be applicable if someone has to be hospitalized at least for 24 hours period you will get daily cash benefit.  Similarly there are major surgical benefits in which the insured will be paid with the coverage amount irrespective of the costs involved.  Although there are certain exclusions under this condition as well.  Similarly there are some of the day care procedures which are covered in this policy and even the ambulance charges are covered.  You will get no claim benefit for each year where there was no claim made.  It will be 5% of the initial daily benefit, will be added to the policy.

There are whole lot of day care procedures covered under this LIC’s Jeevan Arogya which makes it a viable option for those looking for financial independence during any of the medical emergencies.

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Features

• No medical tests for up to 50 years of age
• 5% bonus for every claim free year
• The floater of sum insured across family members
• Minimum sum insured Rs. 1 lakh and maximum of 5 lakhs
• Cashless facility at 3400 hospitals
• There is no documentation required to buy it

Benefits

• Coverage for hospitalization of 24 hours or more
• Pre and post hospitalization coverage of 30 days and 60 days
• Ambulance charges included of upto Rs. 1000 for emergencies
• Master health check-up worth Rs. 1500 for every 4 claim free years
• With cumulative bonus with sum insured increase by 5% for every claim free year

Exclusions and Drawbacks

• There is a sub limit of 2% for room rental and 4% for ICU of the sum insured
• Surgeon’s fees will be limited to a maximum of 40% of sum insured
• There are also maximum amount limit on certain disease or treatments ranging from 8% to 50% for various disease like cataract, sinusitis, fistula, tonsillitis, appendicitis, dialysis, radiotherapy, chemotherapy, etc
• Existing diseases will be covered only after 4 years of continuous coverage.
• No coverage for disease contracted within 30 days of buying the policy but this condition is not applicable for renewals

The premium for this Royal Sundaram Family Health Insurance range from Rs. 2255 to Rs. 47,056 depending entirely upon the sum insured and the number of family members insured.

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