In 1947, Oriental Insurance Company Limited was established as a wholly-owned subsidiary of Oriental Government Security Life Assurance Company Limited. From that point, the business worked as a division of the Life Insurance Corporation of India from 1956 until 1973. Oriental Insurance is now owned and run by the Indian government after the company's shares were finally handed to the government in 2003.
In India's general insurance market, Oriental Insurance is one of the four public-sector general insurance companies. Both individuals and businesses can get general insurance coverage from the company. You can safeguard yourself against potential financial calamities with various general insurance solutions from Oriental Insurance. One of the company's products is health insurance. Let's examine and compare the features of Oriental health insurance plans.
Advantages of Oriental Health Insurance
The following advantages define the health insurance policies provided by Oriental Insurance Company:
- The company employs over 13,500 people and has a presence throughout India with over 29 regional offices, 1800+ offices, and an extensive distribution network.
- The company's gross premium after the fiscal year 2018–19 was INR 13,199 crores, demonstrating its well-liked services.
- Oriental Insurance is a multinational corporation that sells insurance in India, Dubai, Nepal, and Kuwait.
Main Features
- Policy duration: one year
- The entry starts from the age of 91 days to 65 years, with a maximum extension of 70 years.
- Options include Silver, Gold, and Diamond.
- Options for the sum insured range from INR 1-20 lakh.
- Silver and Gold variants require a pre-acceptance medical examination for applicants 60 years and older. People over 55 must have a check-up under the Diamond variant.
Advantages
Every individual's coverage needs are met by the variety of health insurance plans offered by Oriental Insurance Company. Oriental medical insurance policies offer the following typical coverage advantages:
- Pre and post-hospitalisation
- In-patient hospitalisation
- Ambulance expenses
- Day care facility
- Organ doner costs
- Domiciliary hospitalisation
- Maternity benefits
- Alternative treatments
- Free health check-ups
- No claim cumulitive bonus
- Discounts on premiums
Top-ups Offered By the Company
Oriental health insurance policies offer optional riders and built-in coverage advantages with each plan. By paying an additional premium, you can pick one or more of the optional riders that are offered if you want to broaden the scope of coverage. The following riders are available:
Cover for Personal Accidents
This policy will provide you with a lump sum payment if an accident results in your death or a permanent impairment.
Sum Insured Restoration
If the sum insured is exhausted by prior claims, you can choose to have it restored. For example, one might choose to restore up to 50% or 100% of the original insured amount.
Life hardship Survival Benefit
You are covered for critical illnesses under this policy. The policy covers 11 critical illnesses, and if you contract any of them and live for a predetermined amount of time, the plan will pay you a lump sum payout.
Voluntary Co-payment
You can receive a discount on your premium if you decide to pay for a portion of the claim yourself. In exchange for a 10% or 20% voluntary co-payment of the claim, Oriental health insurance policies offer a discount on the premium.
Exclusions
Under some circumstances, claims would not be covered by Oriental health insurance plans. These are known as exclusions, and some of the typical exclusions that are present in all of the company's health plans include the following:
- Pre-existing condition coverage is only available after a predetermined waiting period. During the waiting period, pre-existing condition claims will not be covered.
- After a predetermined waiting period, coverage is permitted for some specific illnesses listed by the company.
- The plan does not include coverage for dental work, maternity fees, or outpatient costs.
- Mental health issues and associated therapies are not covered.
- Nuclear dangers, war, mutiny, and other similar perils are not covered.
- The insurer does not cover cosmetic procedures.
- HIV/AIDS infections and sexually transmitted diseases are not covered.
- Damage caused by oneself Intentional harm, including suicide attempts, is not covered.
- Debilitating disorders and congenital ailments are not covered.
A List of Health Plans Oriental Insurance Company Provides
Here is a list of the health insurance plans that Oriental offers:
- Oriental Insurance Happy Family Floater Policy
- Oriental Super Health Top-up Plan
- Oriental Insurance Pravasi Bharatiya Bima Yojana 2017
- OBC Oriental Mediclaim Policy 2017
- PNB Oriental Royal Mediclaim Policy
- Oriental Insurance Group Mediclaim Policy
- Oriental Insurance Health of Privileged Elders (HOPE)
- Oriental Insurance Overseas Mediclaim Policy (B & H)
- Oriental Insurance Overseas Mediclaim Policy (E & S)
- Oriental Happy Cash Policy
- Oriental Jan Arogya Bima Policy
- Arogya Sanjeevani Policy Oriental Insurance
- Oriental Dengue Kavach
- Oriental Critical Illness Policy
- Corona Kavach and Group Corona Kavach
How to Buy Oriental Health Insurance Online?
Using the online purchasing option, you can purchase plans on Oriental Insurance's website. Go to https://orientalinsurance.org.in/web/guest/home, go to ‘buy online and then ‘health policies’. Click on the plan you wish to buy. Fill in the details and pay your premiums online to purchase the policy..
Conclusion
Oriental Insurance, a well-known brand with offices throughout the nation and its headquarters in New Delhi, assists people in protecting the health of their loved ones. The health insurance guarantees to protect policyholders' finances in the case of an unanticipated illness or accident that necessitates hospitalisation.
