Health claim settlement ratio is an important factor in health insurance. It gives an understanding to the customers regarding the insurer’s ability to handle their claim requests. A consistent health claim ratio is reflects positively on the insurer’s ability to settle customer’s claim requests. The claim ratio for all the health insurance companies varies and is given by IRDAI in their annual circular.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
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Chola MS General Insurance Company is 50.01% for the FY 2018-2019. So, their claim settlement record shows that 50% of the claim requests were paid by the insurer. If you have any of the Chola MS health insurance plans and want to file a claim then here is what you need to know about the claim documents, cashless, and reimbursement procedures.
Key Features |
Highlights |
Network Hospitals |
8000+ |
Incurred Claim Ratio |
39.96 |
Renewability |
Lifelong |
Waiting Period |
4 years |
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The procedure for planned and emergency hospitalization in both cashless and reimbursement procedures are given below:
When a hospital is selected the policyholder should approach to them 48 hours in advance and provide all the policy details/ e-cards along with a Government issued photo ID proof like Aadhaar Card/ Driver’s License the Insurer’s Third-Party Administrator (TPA) desk. Furthermore:
In case of emergency hospitalization, you can get in touch with any of the Network Hospitals within 48 hours of hospitalization
In case of hospitalization you can inform the insurer within 48 hours of admission at any of the Network or non-Network Hospitals.
Here is a list of documents that you need to carry at the time of claim settlement:
Yes, you can avail cashless treatment in nearly 8000 network hospitals across India.
It is important to follow a specified procedure while lodging a claim for their critical illness plan. Following documents will be required from your end-
Yes, you can go for a planned treatment with Cholamandalam health insurance plans. You can inform the insurer within 48-hours and follow the simple claim process.