Health insurance protects you and your family against financial hardships that a medical emergency causes. However, one cannot decide on choosing the insurer or a policy for the safety net. Since there are many players in the industry, one needs to do thorough research to get the most beneficial plan. Bajaj Allianz Health Insurance is one such provider that offers extensive coverage, customisable options, lifetime renewability, family discounts and many such benefits. To top it all, it comes with the reliability of two industry giants — Bajaj Finserv Ltd and European firm Allianz SE. Check out all the details about the insurer and its offerings.
Types of Bajaj Allianz Health Insurance Offers
Bajaj Allianz provides a vast range of health insurance policies, for every sector and age-income profile, with many features, including coverage for maternity and newborns, comprehensive hospital bill coverage, free yearly medical check-ups, and many discounts on online purchase and long-term policy tenure. The types of policies one can consider are:
- Individual Health Insurance for the proposer and individual family members
- Family Health Insurance — Family floater health insurance that covers everyone collectively
- Senior Citizen Health Insurance boasts shorter waiting periods for pre-existing diseases, co-payment waiver, high entry age, free health check-ups, and a cumulative bonus.
- CritiCare Policy protects against 43 life-threatening diseases, such as cancer, major aorta surgery, renal failure, major organ transplant, permanent paralysis of limbs and others. It provides a 100% payout on the diagnosis of listed critical illnesses.
- Critical Illness Insurance for Women is designed to guard against the risk of eight life-threatening illnesses, including breast cancer, ovarian cancer, uterine cancer, etc. It provides a lump sum for loss of income, benefits for congenital disabilities and a bonus for children’s education.
- Top-up Health Insurance Plan adds additional coverage to safeguard you if the base sum insured is used.
- Global Personal Guard or Personal Accident Insurance protects individuals and family members against accidents and accidental death or disability. It includes benefits for adventure sports, coma care, fracture care, etc.
- Health Insurance for Groups provides a safety net to employees and their families. It pays for the cost of hospitalisation, nursing expenses, the price of a pacemaker, etc.
- M-Care or Health Insurance for Vector-borne Diseases covers hospitalisation due to dengue, malaria, chikungunya, zika virus, etc.
Besides these, the insurer also has Arogya Sanjeevani Policy, Corona Kavach Policy and Saral Suraksha Bima.
Features That Make Bajaj Allianz a Good Option
The insurer has many features that make its health insurance among the leading ones in the industry. These include:
Cashless Treatment
You can receive high-quality cashless treatment at one of their 7,600+ network hospitals. Provide your policy number to the insurance desk, and the hospital and your provider will do the rest.
Daily Hospital Cash
The insurer will pay you an amount each day for a set number of days to pay for non-medical expenses such as a family member’s or caregiver’s accommodations, travel and more.
Cumulative Bonus
Your Sum Insured (SI) increases by 5% for the first year and 10% for each successful claim-free policy year if you renew it continuously and don’t make any claims.
Free Medical Examination
You can use the free health check-up feature and benefit from preventive care. Regular medical examination without worrying about the costs is a great way to get timely intervention.
Lifetime Renewability
Once you buy the health insurance policy, you can continue to enjoy its benefits if you renew it yearly before expiration. You can also modify the plan based on your changing requirements.
Special Health Insurance Add-ons/Riders
Bajaj Allianz has a health prime rider for specific retail and group health/PA product owners. It pays for additional medical expenses that may be uninsured. Nine plans or options are available for individual policyholders and family members. It provides:
- Teleconsultation cover with a medical practitioner during a medical emergency
- Doctor Consultation cover for the insured person to visit at a designated network centre. One may also consult outside prescribed network hospitals up to a set amount of coverage.
- Pathology and radiology investigations cover designated network locations. The policyholder can opt for a centre outside the network within a stipulated amount.
- Annual preventive health check-ups per policy year at any of the network hospitals or diagnostic centres covers fasting blood sugar, blood urea, an ECG, HbA1C, ESR, lipid profile, liver function test, serum creatinine, T3/T4/TSH, and a urine routine.
Tax Advantages
The premium payment for individual health insurance and family floaters is eligible for tax benefits under Section 80D of the Income Tax 1961.
Tax Gain Plan
The floater health plan covers hospitalisation and OPD and assists you with tax management. The Tax Gain Plan’s features and advantages include:
- Up to INR 1,000 in emergency ambulance costs
- Coverage for 130 daycare treatments
- 10% co-payment at a hospital that’s not in the network, which may be waived off in exchange for higher premiums.
- Free health check-up on four claim-free policy years
- Individuals between the ages of 18 and 55 and 56 and 75 pay the same premium slab
- OPD coverage is available immediately.
- OPD coverage pays for dental care.
- No burden associated with processing claims through a third-party administrator (TPA).
Whether you want to buy a new insurance plan or renew an existing one, you can easily do it on Bajaj Allianz’s website. It’s easy, secure and quick.
Conclusion
Bajaj Allianz is among the top insurance providers in the country. It has a whopping CSR of 98% and a strong 8,000+ hospital network, of which 7,600 centres are cashless. You can benefit from several plan options and unique features that will give you mental peace and financial support during a medical emergency.
