New India Assurance Company Limited is a wholly owned subsidiary of Indian Government and is an multinational insurance contributor present in 27 countries and a market leader in the non life insurance sector in India based from Mumbai. Strong domestic and international presence, a wide range in insurance plans, effective and advanced technology, integrated complaint management structure are some of the keys to the company’s success. And last but not the least New India Assurance is the only insurer who is considered as the direct insurer in India.
*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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Key Features |
Highlights |
Network Hospitals |
1200+ |
Incurred Claim Ratio |
103.19 |
Renewability |
Lifelong |
Waiting Period |
4 years |
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
The New India Assurance company has a series of cost efficient health insurance plans for individuals as well as for families which are namely:
Now let’s have an overview of each plan:
The main features of this New India Assurance mediclaim policy are:
The Sum Insured Under New India Health Insurance available are:
Coverage Type |
Sum Insured |
Threshold |
A |
500000 |
500000 |
B |
1000000 |
500000 |
C |
1500000 |
500000 |
D |
700000 |
800000 |
E |
1200000 |
800000 |
F |
1700000 |
800000 |
G |
2200000 |
800000 |
New India Health Insurance Eligibility
The proposer has to be aged between 18-65 years and other members 3 months – 65 years. Children between 3 months till 18 years are covered under this New India Assurance plan, provided their parents are also covered simultaneously. Children between 18 years till 25 years are also covered provided their parents are also covered simultaneously and they are financially dependants on their parents except for unmarried daughter and where the child is mentally handicapped.
Health Check up will be required for person above 50 years of age under
Tenure of the Plan
The policy is only for a period of one year.
The Hospitalization expenses include:
This New India Assurance Mediclaim policy covers the followings:
Eligibility
This New India Assurance Health Insurance plan can be availed by individuals who are aged between 18-65 years. Children between 18 years till 25 years are also covered provided their parents are also covered simultaneously and they are financially dependants on their parents except for unmarried daughter and where the child is mentally handicapped. Health Check up will be required for person above 50 years of age, however 50% of the health check up costs will be reimbursed if the policy is approved by the company.
Tenure of the Plan
This New India Assurance policy is only for a period of one year.
Sum Insured and Premium
There are basically 4 types of plans or sum insured categories which are Rs 2 lakhs, Rs 3 lakhs, Rs 5 lakhs and Rs 8 lakhs. The Premium payable is based on the following criteria:
This New India Assurance plan covers the following Hospitalization expenses:
The following Personal Accident Plans are also covered:
Serial Nos | Coverage | Compensation | |
1. | Accidental Death | Proposer or Spouse | 100% of Sum Insured |
Proposer and Spouse | 200% of Sum Insured | ||
2. | Permanent Total Disablement of | Proposer or Spouse | 100% of Sum Insured |
Proposer and Spouse | 200% of Sum Insured | ||
3. | Loss of one limb and one eye or loss of both eyes and /or loss of both limbs of | Proposer or Spouse | 100% of Sum Insured |
Proposer and Spouse | 200% of Sum Insured | ||
4. | Loss of one Limb /sight in one eye of | Proposer or Spouse | 50% of Sum Insured |
Proposer and Spouse | 100% of Sum Insured |
Eligibility
The uniqueness of this New India Assurance policy is the parents can take this plan only with daughters. This can be availed by individuals who are aged between 18-65 years. Daughters between 3 months till 18 years are covered under this plan provided their parents are also covered simultaneously. Children between 18 years till 25 years are also covered provided their parents are also covered simultaneously and they are financially dependants on their parents except for unmarried daughter and where the child is mentally handicapped.
Tenure of the Plan
The policy is only for a period of one year.
Sum Insured and Premium
There are basically 4 types of New India Assurance plans or sum insured categories which are Rs 2 lakhs, Rs 3 lakhs, Rs 5 lakhs and Rs 8 lakhs. The New India Health Insurance Premium payable is based on the following criteria:
This New India Assurance Mediclaim Insurance policy protects the insured person against the unexpected hospitalization expenses. And the coverage is inpatient hospitalization expenses where the hospital stay should exceed more than 24 hours( except in case of mentioned day care procedures) and Pre/Post hospitalization expenses upto 30/60 days respectively. However, there are certain exclusions to this mediclaim Insurance policy.
Eligibility
This can be availed by individuals who are aged between 18-65 years. Children between 18 years till 25 years are also covered provided one of their parents are also covered simultaneously and they are financially dependants on their parents.
Premium
Family members can be covered in one policy with separate Sum Insured for each Insured Person and one will get Family Discount of 10% on the total premium amount payable. And 11-%-18% discount for New India Assurance plans on family floater basis, minimum two and maximum four additional members. The members of the family include the Proposer, Proposer’s Spouse, Proposer’s Children, and Proposer’s Parents.
No Claim Bonus is awarded after every claim free year to the tune of 2%-15% for members upto 60 years and 11%-18% for family floater plans.
Sum Insured
The sum insured is from Rs 1 lakh to Rs 8 lakhs, maximum limit is Rs 3 lakhs for individuals aged above 55 years. Sum Insured can be enhanced while renewing, however the same will depend on the company’s decision for insured members upto 65 years. Also Sum Insured can be enhanced when one wants to transfer from Mediclaim 2007 plan to Mediclaim 2012.
This New India Assurance Plan covers the following
Eligibility
This policy can be availed by individuals who are Indian Citizens and are aged between 18-60 years havin a valid visa staying abroad for the purpose of employment only for the period of cover as mentioned in the policy.
This New India Assurance policy covers the following:
Eligibility
This can be availed by individuals who are aged between 18-60 years. Children between 3 months till 18 years are also covered provided one of their parents are also covered simultaneously.
Features & Benefits
This New India Mediclaim policy covers the following:
Eligibility
This plan can be availed by individuals who are aged between 18-60 years. The Family Floater Mediclaim Plan can be availed by person upto 60 years of age with self, spouse, maximum two dependent children. Parents/ Parents in law/ brothers and sisters are not covered.
Sum Insured & Premium
Minimum Sum Insured is 2 lakhs and maximum is Rs 5 lakhs. A load of 50% will be applied to cover spouse, and 25% to cover each dependent child.
The New India Janata Mediclaim Policy covers the following:
Eligibility
Individuals aged between 18-60 years and other members 3 months – 65 years. Children between 3 months till 18 years are covered under this plan provided their parents are also covered simultaneously.
Sum Insured & Premium
Rs 50000 to Rs 75000 and No Claim Bonus is increase in 5% for every claim free year.
This New India Health Insurance plan covers
Eligibility
Individuals aged between 60-80 years are eligible for this policy. And the renewability continues till the age of 90 without a break. Health check up is mandatory for all applicants.
Sum Insured & Premium
Sum Insured is Rs 1 lakh to Rs 1.5 lakhs and No Claim Bonus increase in 5% for every claim free year. Premiums are as lower as Rs 3850 to Rs 7650 depends on the age and sum insured. Again, loading of 10% to 20% will be applicable which depends on the age. There is a family discount of 10%.
The below mentioned coverages are there under this New India personal accident insurance plan:
Various types of personal accident plans are as under:
Eligibility
Individuals and dependent family members aged between 5 years -70 years are eligible for this policy.
This covers the medical expenses incurred by the insured individuals outside India in terms of bodily injuries or sickness or disease contracted. The plans are :
Eligibility
Individuals aged between 6 months -70 years are eligible for this policy provided the plans are taken before leaving India.
For the online payment mode, the policyholder can pay via;