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Saturday, November 9, 2013

Chola MS Individual Healthline - Standard

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Call 0 94 8300 8300 (India)

 

Chola MS Individual Healthline- Standard

 

Objective

A basic online health insurance policy that covers hospitalisation expenses.

 

Suited for

It is available as an individual cover. A family can also be covered but on an individual sum insured basis.

 

What does it do?

This is first variant of Chola MS Individual Healthline that covers basic hospitalisation expenses if treatment is taken in a hospital as an inpatient. All the benefits under this policy are constrained to sub-limits as mentioned in policy document. It also covers day care treatment, daily cash benefit, home hospitalisation and ambulance services. Chola Wellness Services that send policy related alerts and reminders can also be added by paying an extra premium.

 

Pros

It can be purchased online through company's website.
It allows lifetime renewal.
Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.

 

Cons

Each benefit is capped to some specific amount or percentage of sum insured.

 

Our View

It offers lifelong renewals to its policyholders. Sub-limit on room, boarding and nursing expenses act as a drawback. You can find similar policies without such cappings in the market at reasonable cost. Preference should be given to policies with least exclusions and no sub-limits.

 

Eligibility

Entry Age (years)

Minimum

18; 3 months for children

Maximum

65; 35 years for dependent female child and 25 years for dependent male child

Maximum Policy Renewal Age (years)

Lifetime

Coverage Type

Individual/ family

Policy Term (years)

1

Sum Insured (Rs)

Maximum

5 lakh

Minimum

3 lakh

No Claim Bonus

5% of Sum Insured for each claim free year

Pre Policy Medical Check Up

Not required upto 55 years of age

Customer Service

Address

Registered Office:Cholamandalam MS,
General Insurance
Company Ltd,
2nd Floor, "Dare House",
No.2, NSC Bose Road,
Chennai - 600001, India

Mail to

customercare@cholams.murugappa.com

Call to

044-3044 5400, 1800-200-5544 (Toll Free)

SMS

SMS "CHOLA" to 56677

Network Hospitals

Http://www.cholainsurance.com/nwhosp/

 

Scope Of Cover

Cashless facility

available at network hospital

Reimbursement facility

available if treatment taken in an non-network hospital.

Pre and post hospitalisation

covered from 60 days prior to hospitalisation and upto 90 days after discharge from hospital

Inpatient hospitalisation

covered with sub-limits on certain treatments

Room, Boarding & Nursing Expenses

Sum Insured Rs 1 lakh: Non AC room up to Rs1000 per day; Sum Insured 2, 3, 4 & 5 Lakhs -AC single room up to Rs 3000 per day

Day Care Procedures

141 in number are covered

Daily Cash for choosing shared accommodation

Rs 250 / day for a maximum of 7 days with 1 day deductible

General Health Check up & Eye Examination

covered

Emergency ambulance

Rs 1000 per insured per policy year

 

Exclusions and Waiting Period

Pre-existing diseases

not covered upto 48 months of continuous coverage from first policy year

No claim Period

30 days from commencement of the policy

Waiting period

Certain illnesses such as cataract, hernia, sinusitis etc. will be covered after one year from commencement of the insurance policy.Certain illnesses such as spondilitis, heart disease, gout & rheumatism etc. after 2 years have elapsed since inception of the policy.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

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