New India Assurance Family Mediclaim Policy

New India Assurance Family Mediclaim 2012: Key Highlights

Coverage Offered

New India Assurance Family Mediclaim 2012 health insurance provides coverage in the following areas:

• Pre and Post-hospitalization Coverage- This policy allows one to get a reimbursement of the expenses incurred 30 days before and 60 days after hospitalization, excluding pre-existing diseases and maternity cases.
• Daycare Treatment- Individuals who buy New India Assurance Family Mediclaim 2012can get compensation for the expenses incurred during a daycare treatment for less than 24 hours of hospitalization.
• Ambulance charges- Ambulance charges will also be covered up to a specific limit.

Inclusions of the Plan

• Ayurvedic, homeopathic, and Unani treatment is done in a registered hospital, up to a maximum of 25% of the sum insured.
• The pre-existing diseases will also be covered after the completion of 4 claims-free years.
• Other pre-existing diseases like hypertension, diabetes, and other related compensations are covered after the completion of 2 years of uninterrupted service. However, an extra premium will be required to be paid.

Exclusions of the Plan

New India Assurance Family Mediclaim 2012 plan does not cover the following treatments or expenses:

• AIDS, HIV, STD, etc.
• Treatments or diagnoses within 30 days of the purchasing of the policy
• Plastic surgeries, dental treatments, and cosmetic surgeries unless it is required due to some illness or injury.
• Childbirth and pregnancy complications
• Vaccination and the inoculation process
• Illness or injuries caused by nuclear attacks, radiation, wars, and acts of terrorism
• Naturopathy treatment.
• Treatments that have taken place abroad
• Domiciliary treatment

Individuals can find the complete exclusions list in the Policy document.

Features & Benefits of the New India Health insurance

Individuals who intend to buy New India Health insurance will be able to enjoy the following benefits of the New India Assurance Family Mediclaim 2012 policy: 

• Premium is calculated based on the place and the geographical location of the place where the treatment is carried out.
• Cumulative bonus benefit.
• The coverage is not provided to the in-laws of the insured even if they stay with the insured.
• Income tax benefit* under Section 80D of the Income-tax act.*Tax benefits are subject to change in tax laws.
• Premium is based on the eldest member of the family.
• There is a 50% loading if the spouse is covered and 25% loading if the children are covered.

Cancellation Terms of the Policy

Policyholders can cancel the New India Assurance Family Mediclaim 2012 insurance policy within the free-look period, which is within 15 days of buying the policy. The premium will be refunded minus the charges incurred by the insurance company.

At other times, policyholders can send a written notice to the Insurer for cancellation of the contract. Upon acceptance, the Insurer will refund the premium based on short-period rates. Such a Refund would be made only when no claim has been made earlier.