Bajaj Allianz Family Floater Health Guard Insurance Policy

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There is nothing more near and dear than a family. And it is the duty of the bread-earner to take care of family health and provide them a safe and secure life. Not always, things unfold as we anticipate. Amid the increasing costs of medical treatments in India, it has become inevitable to buy an adequate health insurance plan. Hospital bills are sky-rocketing, and even for a minor treatment/surgery, hospital bills for 4 to 5 days of treatment can cost around Rs. 1 lakh easily. 

Any major hospitalization expenses can drain out all of your savings and can even indebt anyone, if the funds are not sufficient.  If the hospitalization expenses come out to be more than what you are able to provide? What will you do in such a situation? That is why having a health insurance plan is of utmost importance in today’s time.

Bajaj Allianz Family Floater Health Guard insurance plan provides coverage to your loved ones in the most affordable manner. This plan can be customized to meet the medical needs of your entire family. It is wise to buy a family floater health insurance plan when it comes to protecting your loved ones on a single sum assured. It is not required to maintain multiple health insurance policies when everyone can get coverage under a single family floater health insurance plan. The plan offers protection to your spouse, parents, and kids.

Features & Benefits of Bajaj Allianz Health Guard Family Floater Health Insurance Plan

  • Cashless treatment in more than 6000 network hospitals across India (subjected to policy terms and conditions)
    Option to choose 1, 2 and 3 years of policy term
    Lifelong policy renewal option. And for dependent children or grandchildren renewal age is up to 35 years
  • Pre-medical not required up to 45 years of age (subjected to clean medical history)
  • Tax benefits up to Rs. 60000 as per Sec 80/D of the Income Tax Act, 1961
  • Health CDC benefit – quick claim settlement through Bajaj Allianz insurance Wallet app**

Variants of Family Floater Health  Plans

  • Silver Plan
  • Gold Plan

Inclusions of Bajaj Allianz Health Guard Family Floater Health Insurance Plan

This plan shall cover the following medical expenses:

  • Up to a maximum of Rs. 20,000 ambulance charges to be reimbursed per policy year
  • All day care treatment expenses to be covered
  • Reinstatement of the sum assured
  • 4% discount on the purchase of a 2-year policy and 8% discount for a 3-year plan
  • Up to Rs. 7500 convalescence benefit per policy year
  • For every claim free year avail a cumulative bonus of 10% (maximum up to 100%)
  • Covers Homeopathic and Ayurveda hospitalization expenses
  • Coverage to organ donor expenses up to the sum insured
  • Covers Bariatric surgery expenses
  • Up to 20% discount on choosing the co-payment option
  • Preventive health check-up facilities after completion of 3 years
  • Covers maternity and newborn baby expenses

Eligibility Criteria

  • Entry age criterion is between 18 years and 65 years
  • For children, the entry age limit is from 3 months to 30 years

Sum Assured (Rs.)

  • Sum insured options ranging from 1.5 lacs to 2 lacs in the silver family floater health plan
  • 3 lacs to Rs. 50 lacs in the gold family floater health plan

Exclusions of Bajaj Allianz Health Guard Family Floater Health Insurance Plan

This plan shall not cover the following medical expenses:

  • Pre-existing diseases to be covered after a waiting period of 3 years
  • Claim request for any illness that is diagnosed during the initial 30 days of policy purchase date will not be covered
  • Treatment for certain specific illnesses like sinusitis, hernia, cataract etc. is not eligible for the claim until completion of 2 years
  • For joint replacement, PIVD there is a waiting period of 3 years
  • Any treatment required for health ailments resulting from consumption of drugs, alcohol and other intoxicants
  • Bariatric surgeries to be covered after a waiting period of 3 years
  • Maternity/newborn baby expenses to be covered after a waiting period of 6 years

Zone wise Premium Rates are Applicable

Zone A Cities –

  • Cities that come under Zone  A are - Mumbai, Delhi/NCR, Hyderabad, Bangalore, Ahmedabad, Vadodara, Kolkata, Surat, and Secunderabad
  • Co-payment clause is not applicable to anyone who is paying Zone A premium rates. This is valid for treatment in PAN  India

 

Zone B Cities– 

  • Rest of India apart from Zone A cities are classified as Zone B.
  • 20% co-payment applicable to the admissible claim amount for policyholders availing medical treatment in Zone A cities and paying premium rates that are applicable in Zone B cities.  It is not applicable in case of accidental hospitalization.
  • If any of the insured members are residing in Zone B cities can avail treatment without co-payment  clause, if they choose to pay Zone A Premium rates

 

Bajaj Allianz Health Administration Team

  • In-house health insurance team to resolve issues related to health insurance customers
  • Resolving customer queries by health insurance experts in an effective manner
  • Single point of contact for a quick settlement of health insurance claims
  • In-house team of paramedics and doctors for health underwriting and claim settlement

**Health Claim by Direct Click- Health CDC Feature

  • It is a feature in the Insurance Wallet App of Bajaj Allianz, customers can use this app to raise a claim requests up to Rs. 20,000.
  • It is a time saving and paper-less process that saves both time and money.
  • All you need to do is upload the necessary documents on the app and it will provide you all the updates regarding your claim status.

Tax Benefits of Buying Bajaj Allianz Health Guard Family Floater Plan

  • Tax benefits up to Rs.55,000 if the age of the policyholder is below 60 years and the age of the insured parent’s is above 60 years
  • Tax benefits up to Rs.30, 000 if the age of the policyholder is below 60 years of age and the policy includes his or her parents as well.
  • Tax benefits up to Rs. 25,000 if the age of the policyholder is less than 60 years, and he/she pays a health insurance premium for self, parents, spouse, and children and parents.
  • Tax benefits up to Rs.60, 000 if the age of the policyholder and parents is above 60 years
Written By: PolicyBazaar - Updated: 07 June 2019