Cholamandalam Health Insurance

Cholamandalam Health Insurance Overview

Cholamandalam MS General Insurance Company is a joint venture between India-based Murugappa Group and Japan-based Mitsui Sumitomo Insurance Company. It offers a variety of insurance products to its customers, including health insurance, and has about 156 branches across the country. Cholamandalam MS General Insurance Company aims to bring excellent health care services within the reach of the common man. Moreover, the company enjoys a claim settlement ratio of 95% (2018-19).

Cholamandalam Health Insurance at a Glance:

Key Features of Cholamandalam Health Insurance Plans

Given below are the key features of Cholamandalam Health Insurance plans:

• New Born Baby Cover from Day 1 – The plan covers a newborn baby from day 1 if the mother has been covered under the policy continuously for 12 months.
• Restoration of Sum Insured - 100% restoration of the sum insured is provided for unrelated claims in case the sum insured and the cumulative bonus have exhausted or is insufficient.
• Additional Sum Insured for Road Traffic Accidents- The policyholder is entitled to an additional sum insured amount up to a maximum of Rs 3 lakh once during the policy period in case of road traffic accident claims.
• Free Health Check-up – The policy offers free health check-up facilities to the insured at the end of a fixed block of claim-free years.
• Cashless Hospitalization – Cholamandalam Health insurance plans allow people to avail cashless claims at more than 10,000 network hospitals across the country.
• Tax Benefits - Customers get a tax benefit on the premiums paid for the Cholamandalam health insurance policies under section 80D of the Income Tax Act.

How to Buy Cholamandalam Health Insurance Plans?

Take a look at the steps to buy a Cholamandalam Health Insurance plan online:

• Visit the official website of ‘Policybazaar Insurance Brokers Private Limited’
• Go to the ‘Insurance Products’ tab on the menu bar and click on ‘Health Insurance’
• Scroll down and click on ‘Cholamandalam Health Insurance on the left-hand side of the page
• Enter the requested details in the available form and click on ‘View Plans’
• Choose the family members to be insured and the age of the eldest member
• Enter your city and details of any medical history
• Select the Cholamandalam health insurance policy and pay the premium
• The Cholamandalam MS General Insurance Company will issue the policy.

How to File Cholamandalam Health Insurance Claims?

Both cashless and reimbursement claims can be filed for Cholamandalam health insurance plans. Take a look at the process below:

Cashless Claims Process:

• Inform the Cholamandalam MS General Insurance Company about your emergency hospitalization. In case of planned hospitalization, inform the insurer before hospital admission.
• Approach the hospital’s insurance desk and inform them about your Cholamandalam health insurance policy. You may be asked to show your insurance policy copy and provide a valid photo id proof.
• The hospital will send the pre-authorization form to the insurance company within 24 hours for authorization.
• The insurer will check the documents and grant pre-authorization within 2 hours if the claim is approved. They may also ask for more documents before approval.
• At the time of discharge, the hospital will share all the necessary documents with the insurance company for final approval.
• Cholamandalam MS General Insurance Company will review the shared documents, give final approval and pay the final bill amount within 2 hours.

Reimbursement Claims Process:

• Inform the insurance company about the emergency or planned hospitalization at a non-network hospital within the stipulated time.
• Get treated at the hospital and pay all the bills at the time of hospital discharge
• Make sure to collect all the documents, medical reports, invoices, and discharge certificate in original from the hospital during discharge.
• Scan and upload the self-attested claim documents to the insurer’s website within 30 days of getting discharged
• The Cholamandalam MS General Insurance Company will check the documents and approve the claim within 7 working days.
• The claim amount will be paid to the policyholder through NEFT.

Documents Required for Cholamandalam Health Insurance Reimbursement Claims

The following documents should be submitted for the reimbursement claim to Cholamandalam MS General Insurance Company:

• Duly completed and signed claim form in original
• Original discharge summary on the hospital letterhead with the seal and sign of the doctor with treatment details
• Original main bill from the hospital with a cost-wise breakup
• Original payment receipt and investigation reports
• All pharmacy bills accompanied by relevant prescriptions
• Implant stickers or invoices wherever applicable
• In case of a Road traffic accident (RTA), a copy of FIR and/or Medico Legal Certificate (MLC) would be required.
• Identity proof and residence of the beneficiary for claims above Rs 1 Lakh

Cholamandalam Health Insurance - FAQs