The New India Assurance Health Insurance Company Limited
The New India Assurance Health Insurance Company Limited

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New India Assurance Health Insurance Overview

New India Assurance CO LTD, established by Sir Dorabji Goodbye in 1919, a Global General Insurance agency, today works in 28 countries and settled in Mumbai, India. Our worldwide business crossed Rs. 26607 crores in Walk 2019.

We have been market pioneers in India in the Non-Life business for over 40 years. Our Indian business crossed Rs.23910 crores in Walk 2019. We are the solitary direct safety net provider in India evaluated A-(Superb) by AM BEST Company since 2007. We have been appraised AAA/Stable by CRISIL since 2014, showing that the Company has the most significant level of Monetary Solidarity to respect its Policyholder’s commitments.

We have been driving the market, aside from premium, available for later and total assets for a long time.

What Is A Health Insurance Top-up Plan and Why Should I Buy It?

A top-up health insurance strategy is an extra inclusion for the individuals who have a current health insurance strategy. Each top-up arrangement accompanies a deductible. On the off chance that your doctor’s visit expense surpasses the deductible in a solitary hospitalization, at that point the top-up strategy can be utilized. The superior that you pay for a top-up health insurance strategy is liable to burden derivations under Area 80D of the Annual Expense Act, 1961.

New India Health Insurance offers a top-up health insurance strategy named New India Top-Up Mediclaim Strategy. The strategy covers in-persistent hospitalization costs brought about inside India. The strategy reacts just when the total of all hospitalization costs of one or all the individuals surpasses as far as possible known as deductible, as expressed in the arrangement.

The arrangement is accessible with whole guaranteed choices running between Rs. 5 lakh and Rs. 22 lakh and deductible choices running between Rs. 5 lakh and Rs. 8 lakh. Individuals matured between 18 years and 65 years can be the proposer for this strategy. The covered people can profit of a few advantages under this approach, for example, cover for hospitalization costs, street emergency vehicle costs, AYUSH treatment costs, and costs identified with waterfall treatment. 

About New India Assurance Health Insurance

New India Assurance Co. Ltd. is an entirely government-claimed worldwide general insurance organization that is practical in 28 nations. Settled in Mumbai, the guarantor is working in various domains through 2935 workplaces and with 16795 representatives and 68389 specialists until December 2019. The guarantor offers an assortment of altered insurance arrangements in particular health insurance, engine insurance, country insurance, travel insurance, home insurance, flying insurance,

marine insurance, modern insurance, risk insurance, and redid business and SME items insurance to various areas of the general public. The organization has finished 100 years of tasks as of late. Its Indian activities have won a few honors and acknowledgments including the India Insurance Culmination Grant 2018:General Insurance Organization of The Year and Brilliant Peacock Greatness Grant.

Outstandingly, New India Assurance is the lone direct safety net provider in India that is appraised A-(Incredible) by AM Best Organization since 2007. Aside from top notch, the organization has been driving for possible later use and total assets for a long time on the lookout.

New India Assurance has health insurance as one of its most encouraging items. It offers a few reasonable health insurance plans devoted to people, families, senior residents, sicknesses, and top-ups that give extensive inclusion to the protected. New India health insurance plans are accessible for individuals of various age bunches in India.

Top New India Assurance Health Insurance Plan Types

New India Health Insurance offers a progression of savvy health insurance plans to the clients. Referenced beneath are the best 5 New India Health Insurance designs alongside their features: 

  1. New India Floater Mediclaim Health Insurance Strategy: New India Floater Mediclaim Strategy covers you and your family from hospitalization expenses if there should arise an occurrence of an ailment or injury. The arrangement can cover individuals matured between 3 months and 65 years for total safeguarded choices going between Rs. 2 lakh and Rs. 15 lakh. It can cover 2-6 individuals including subordinate kids.
  2. You can profit from a few advantages under this approach, for example, cover for in-tolerant hospitalization costs, pre-hospitalization and post-hospitalization costs, street emergency vehicle costs, costs identified with ayurvedic treatment, and childcare methods. The arrangement accompanies 3 discretionary covers to be specific No Proportionate Derivation, Maternity Costs Advantage, and Correction in Restriction of Waterfall.
  3. New India Mediclaim Health Insurance Strategy: New India Mediclaim Strategy is accessible for individuals matured between 3 months and 65 years. Under a solitary committed whole safeguarded scope of Rs. 2 lakh and Rs. 15 lakh. The arrangement offers you numerous advantages, for example, in-quiet hospitalization cover, pre-hospitalization, and post-hospitalization costs cover for a newly conceived child,
  4. waterfall costs, ayurvedic, homeopathy, and Unani frameworks of medication, childcare methods, health registration, clinic money, and cover for clinical costs brought about on organ relocate. The arrangement accompanies 4 discretionary covers to be specific No Proportionate Allowance, Maternity Costs Advantage, Modification in Constraint of Waterfall, and Willful Co-Pay of 20%.
  5. New India Head Mediclaim Health Insurance Strategy: New India Chief Mediclaim Strategy ensures you and your relatives including life partners, subordinate youngsters, and ward guardians, from unexpected hospitalization costs. Individuals matured between 3 months and 65 years can be covered under this strategy for whole protected alternatives going between Rs. 15 lakh and Rs. 1 crore.
  6. The approach is accessible in two arrangement variations from which you can pick according to your prerequisites. The arrangement shields you from a few healthcare costs, for example, in-tolerant hospitalization costs, organ contributor costs, rescue vehicle costs, OPD treatment costs after every two squares of guarantee free years, costs identified with barrenness treatment, and ayurvedic treatment costs.
  7. New India Asha Kiran Health Insurance Strategy: New India Asha Kiran Strategy is a remarkable item that offers health cover to guardians with just a single young lady youngster if there should be an occurrence of a physical issue or disease. Individuals who matured between 18 years and 65 years can buy this strategy and incorporate the reliant little girl matured between 3 months and 25 years.
  8. The approach can cover the proposer, mate, and up to 2 ward girls. The arrangement additionally offers cover in the event of unintentional demise, deficiency of one appendage and one eye or loss of the two eyes or loss of the two appendages, deficiency of one appendage or one eye, and perpetual all out disablement other than the ones determined previously.
  9. New India Top-Up Mediclaim Health Insurance Strategy: New India Top-Up Mediclaim Strategy is a top-up health insurance plan that offers extra cover to the guaranteed on the off chance that it surpasses the limit expressed in the arrangement. To be the proposer of this arrangement, you should be matured between 18 years and 25 years.
  10. The whole safeguarded alternatives accessible under this approach is of Rs. 5 lakh to Rs. 22 lakh with deductible alternatives going between Rs. 5 lakh and Rs. 8 lakh. The arrangement shields you from in-quiet hospitalization costs, street rescue vehicle costs, ayurvedic treatment costs, and costs identified with the treatment of waterfall.
The New India Assurance Health Insurance Company Limited
The New India Assurance Health Insurance Company Limited

Benefits of New India Assurance Health Insurance Plans

On choosing New India Health Insurance plans, you can avail of the following benefits:

  • Wide Entirety Safeguarded Breaking point: New India Health Insurance plans offer you a wide scope of total protection that you can pick according to the prerequisite of self and relatives. The plans are accessible with an entirety safeguarded as low as Rs. 1 lakh and go up to as high as Rs. 1 crore, hence offering you more noteworthy insurance.
  • Reinstatement of Aggregate Protected: New India Health Insurance plans are accessible with the reestablishment of total safeguarded advantage. This implies that the safety net provider tops off the whole protected sum in the event that it gets depleted as a result of the cases made during the approach term.   
  • Lifetime Renewability Office: New India Health Insurance plans accompany a lifetime renewability advantage. This implies you can renew your health insurance plan by paying the renewal expense and profit the continuation benefits.
  • Cumulative Reward: New India Health Insurance plans give you a No Case Reward for consistently a case isn’t made up to a particular breaking point.
  • Portability Advantage: New India Health Insurance plans offer compactness benefits. This implies that you can change to any reasonable New India Health Insurance from an insurance strategy offered by some other guarantor in the event that you are not happy with it. You can port to New India Health Insurance strategy at the hour of renewal.

Why Choose New India Health Insurance?

New India Health Insurance has gained people’s trust over the years because of the following factors:

  • Rated AAA/Stable by CRISIL Since 2014: New India Health Insurance has been evaluated AAA/Stable by CRISIL since 2014 which shows the most significant level of the monetary strength of the safety net provider.
  • Excellent Guarantee Settlement Proportion: New India Health Insurance has a phenomenal Case Settlement Proportion (CSR) of 95.92% for the monetary year 2018-2019. This shows that the safety net provider handles guarantees well.
  • Industry Experience of Over 100 Years: New India Health Insurance has an industry experience of over 100 years. This has helped the safety net provider acquire information about the business’ inward activities.
  • Wide Organization of Emergency clinics: New India Health Insurance has a solid organization of beyond what 1,500 emergency clinics where you can benefit credit only therapy without paying for the clinical costs covered under your health insurance strategy.
  • Diligent Client service Group: New India Health Insurance has a persevering group of client assistance that offers you some assistance by noting your insurance-related inquiries.

New India Health Insurance Claim Settlement Ratio

Guarantee Settlement Proportion or CSR is the proportion of number of cases settled by a back up plan against the absolute number of cases got by it during a monetary year. For example, in the event that the case settlement proportion of a back up plan is 90%, at that point it implies that the safety net provider has settled 90 cases out of each 100 cases got. To know the Case Settlement proportion of New India Health Insurance for as long as two years, allude to the table beneath: 

Financial YearClaim Settlement Ratio
FY 2017-201896.61%
FY 2018-201995.92%

New India Health Insurance Policy Terms

New India Health Insurance plans are available with the following terms:

Minimum Entry Age18 years
Maximum Entry Age65 years 
Policy RenewalRenewable for a lifetime
Renewal PremiumsHealth insurance renewal premiums are subject to change without any prior notice.
General Waiting PeriodA general waiting period of 30 days is applicable. It begins from the date of issue of the policy. You will be able to avail policy benefits only after completing this waiting period.    

New India Health Insurance Claim Process

The case settlement measure for New India Health Insurance plans is straightforward, straightforward, and brisk. The back up plan permits you to make guarantees in two different ways specifically credit only and repayment. Credit only cases can be made at the organization clinic though repayment cases can be made at non-network medical clinics.

How To Make A New India Health Insurance Cashless Claim?

Follow the steps given below to make cashless claim under your New India Health Insurance plan:

  • Step 1: Get Hospitalised at a Network Hospital

Get hospitalized at an organization medical clinic of your decision. Cozy the TPA about the hospitalization.

Note that you are needed to advise the TPA quickly or 48 hours before in the event of arranged hospitalization and inside 24 hours from the hour of hospitalization if there should arise an occurrence of crisis hospitalization.

  • Step 2: Submit the Cashless Claim Form

Submit the duly filled cashless claim form to the TPA.

  • Step 3: Verification of Documents

The TPA will verify your documents and check if the claim is in accordance with the terms and conditions mentioned under your policy.

  • Step 4: Settlement of Claim

On the off chance that the case demand gets affirmed, at that point the guarantor will give pre-approval to the organization medical clinic based on which you can benefit credit only therapy and the back up plan will pay for the equivalent.

New India Health Insurance Renewal Process

Renewing a health insurance plan is similarly significant as purchasing a health insurance strategy seems to be. This is on the grounds that it permits you to keep profiting benefits under your health insurance strategy, for example, holding up period benefits, No Case Reward and so on New India Health Insurance permits you to renew your health insurance strategy online by following a couple of straightforward advances given underneath:

  • Step 1: Visit the official website of New India Health Insurance. Click on the Quick Help tab and then on Quick Renewal tab.
  • Step 2: Enter personal details like customer ID and policy number and Click Proceed.
  • Step 3: Select the most suitable quote from the ones displayed on your screen.
  • Step 4: Pay the required renewal premium online via secured payment gateway.

What All Is Covered Under New India Health Insurance Plans?

New India Health Insurance plans cover you from the following medical expenses:

  1. In-Quiet Hospitalization Costs: New India Health Insurance plans offer cover for in-understanding hospitalization costs. These are the clinical costs caused during 24 hours of hospitalization. For example, room lease, nursing, boarding costs, and so forth
  2. Pre-Hospitalization And Post-Hospitalization Costs: New India Health Insurance plans offer cover for pre-hospitalization and post-hospitalization costs. These incorporate costs brought about on clinical trials, specialist’s counsel expense, and so on
  3. Road Rescue vehicle Costs: New India Health Insurance plans offer cover for street rescue vehicle administrations needed to move the guaranteed to the closest medical clinic in the event of a crisis. The emergency vehicle will have the clinical offices needed during transportation.
  4. Expenses Identified with Childcare Techniques: Childcare methods are those clinical medicines that require hospitalization of fewer than 24 hours. New India Health Insurance plans offer cover for such methods.
  5. Organ Benefactor Costs: New India Health Insurance plans offer cover for clinical costs brought about by the organ giver for the organ relocate.

What All Is Not Covered Under New India Health Insurance Plans?

New India Health Insurance plans do not provide you cover for the following:

  1. Intentional Self-Delivered Injury: New India Health insurance plans don’t cover you against any costs caused by the treatment needed for any real injury or ailment because of conscious openness to threat, an endeavor of self-destruction, or any purposeful or self-incurred injury.
  2. Injury Because of Association in Experience Sports: New India Health Insurance plans don’t cover you against treatment for any injury or ailment emerging because of interest in a dangerous game of any sort.
  3. Genetic Issues: New India Health Insurance plans don’t cover you against costs identified with treatment for hereditary issues and foundational microorganism implantation.
  4. Participation in Any Criminal Demonstration: New India Health Insurance plans don’t cover you against the treatment of any sickness or injury caused because of investment in any criminal demonstration.
  5. Treatment Taken External India: New India Health Insurance plans don’t cover you for any costs brought about on treatment taken external the topographical limits of India.

New India Assurance Health Insurance Tax Benefits

Aside from numerous inclusion benefits offered under New India Health Insurance plans, you can likewise profit tax breaks on the top notch paid for them under Area 80D of the Annual Expense Act 1961. On the off chance that you make the excellent installment in one go, at that point you can profit of tax reductions for the quantity of years the insurance has been bought for. To comprehend the expense allowance unmistakably, allude to the table given beneath:

SituationsPremium PaidDeduction under Section 80D of the Income Tax Act
Self, Family, ChildrenParents
When the policyholder as well as parents are less than 60 years of ageRs. 25,000Rs. 25,000Rs. 50,000
When the policyholder and family members are aged below 60 years with parents aged more than 60 yearsRs. 25,000Rs. 50,000Rs. 75,000
When the policyholder, family members, and parents are aged more than 60 years Rs. 50,000Rs. 50,000Rs. 1,00,000
Members of the HUF (Hindu Undivided Family)Rs. 25,000Rs. 25,000Rs. 25,000
Non-Resident Individuals Rs. 25,000Rs. 25,000Rs. 25,000
The New India Assurance Health Insurance Company Limited
The New India Assurance Health Insurance Company Limited

Corona Kavach Policy The New India Assurance

Highlights of Corona Kavach Policy, The New India Assurance Co Ltd Hospitalization indemnity policy.

  1. Sum insured from 50,000 to Rs. 5,00,000 in multiples of Rs.50000.
  2. Entry age – Day 1 to 65 years.
  3. Policy can be taken on either individual or floater basis.
  4. Policy triggers on positive diagnosis of COVID 19 as per Govt mandates.
  5. Minimum hospitalization of 24 hours mandatory.
  6. Pre hospitalization – 15 days.
  7. Post hospitalization – 30 days.
  8. Ambulance charges – Rs.2000.
  9. Room rent/ICU – No limit.
  10. No proportionate deductions.
  11. Policy period – 3 1/2 months (105 days), 6 1/2 ( 195 days), 9 1/2 months(285 days).
  12. No free look period under the policy.
  13. AYUSH – no sub limits.
  14. Home Care Treatment– payable upto maximum of 14 days per incident.
  15. Waiting period – 15 days.
  16. Cover includes treatment for any co-morbid conditions also.
  17. Lifelong renewal/Migration and portability clauses are not applicable.
  18. No instalment facility. Single premium.
  19. Loading of 30% is applicable for persons suffering with any of the Co-Morbidities
  20. Discount of 5% shall be given to Females.
  21. Optional cover – Hospital cash of 0.5% maximum 15 days. – 15% loading on the premium.

Premium Chart (Excluding GST)

Base Premium Chart:285 Days
SI/Age Band50000100000150000200000250000300000350000400000450000500000
<=406507007508189591,0751,1651,2301,2701,284
41-508001,3791,9552,4542,8773,2253,4963,6913,8103,853
51-601,2132,2993,2584,0904,7965,3755,8276,1526,3506,422
61 & above1,6983,2184,5615,7266,7147,5248,1578,6138,8908,991
Base Premium Chart:195 Days
SI/Age Band50000100000150000200000250000300000350000400000450000500000
<=406186657137779111,0211,1071,1691,2071,220
41-507601,3101,8572,3312,7333,0643,3213,5063,6203,660
51-601,1522,1843,0953,8864,5565,1065,5365,8446,0336,101
61 & above1,6133,0574,3335,4406,3787,1487,7498,1828,4468,541
Base Premium Chart:105 Days
SI/Age Band50000100000150000200000250000300000350000400000450000500000
<=405856306757368639681,0491,1071,1431,156
41-507201,2411,7602,2092,5892,9033,1463,3223,4293,468
51-601,0922,0692,9323,6814,3164,8385,2445,5375,7155,780
61 & above1,5282,8964,1055,1536,0436,7727,3417,7528,0018,092

Claim Process of Corona Kavach Policy

Upon the incident of the covered occasion, which may offer ascent to a case under this arrangement, notice with full points of interest will be shipped off the Organization within 15 days from the date of the event of the occasion/conclusion of Coronavirus.

Procedure:

The insured person may submit the necessary documents to TPA(if applicable)/Company within the prescribed time limit as specified hereunder.

S NoType of ClaimPrescribed Time limit
1.COVID CoverWithin thirty days of date of discharge from hospital following positive diagnosis for COVID.

Documents to be submitted:

The claim is to be supported with the following documents and submitted within the prescribed time limit.

BenefitsClaims Documents Required
Covid-19 Coveri. Duly filled and signed Claim Form
ii. Copy of Insured Person’s passport, if available (All pages)
iii. Photo Identity proof of the patient (if insured person does not own a passport) Medical practitioner’s prescription advising admission
iv. Medical practitioners prescription advising admission
v. Discharge summary including complete medical history of the patient along with other details.
vi. Investigation reports including Insured Person’s Test Reports from Authorized diagnostic centre for COVID.
vii. NEFT Details (to enable direct credit of claim amount in bank account) and cancelled cheque
viii. KYC (Identity proof with Address) of the proposer, where claim liability is above Rs 1 Lakh as per AML Guidelines
ix. Legal heir/succession certificate, wherever applicable
x. Any other relevant document required by Company/TPA for assessment of the claim.

Note:

  1. We will just acknowledge charges/solicitations/clinical treatment-related archives just in the Safeguarded Individual’s name for whom the case is submitted.
  2. In case of a case held up under the Approach and the first reports having been submitted to some other guarantor, we will acknowledge the duplicate of the records and guarantee settlement exhortation, properly confirmed by the other back up plan subject to fulfillment of the Organization.
  3. Any deferral in warning or accommodation might be supported on legitimacy where the postponement is end up being for reasons outside the ability to control of the Protected Individual.

Main Sources of this information:

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