New India Assurance Family Mediclaim PolicyNew India Assurance Family Mediclaim Policy

New India Assurance Family Mediclaim Policy

The New India Assurance Family Mediclaim 2012 has been designed to keep in mind the health requirements of an individual. This helps to safeguard your finances against medical emergencies that might occur in the future. This policy is an initiative to help you overcome all the hurdles and live happily and healthily. One can easily get online New India Assurance Family Mediclaim 2012.

Coverage Type	Family Floater
Sum Insured	Rs 1 lakh to 8 lakhs
Tenure	1 year
Critical Illnesses Cover	11
Waiting Period	30 days

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.

FAQs

Q. What is a cumulative bonus buffer?

Ans: The cumulative bonus earned in the previous years will be the cumulative bonus buffer of this policy.
Q. What is a no-claim discount?

Ans: If you have the policy for more than a year and have not made any claims in the last year, you will be entitled to a special bonus referred to as a cumulative bonus.
Q. Is there any grace period for the renewal of this New India Health Insurance family Mediclaim 2012policy?

Ans: If you renew your policy 30 days before the completion of its tenure, then this policy is said to be continued without any kind of break.
Q. Can you increase the sum assured at the time of renewal if you have the New India Assurance Family Mediclaim 2012 policy?

Ans: No, it is not sure if you will be able to increase the sum assured amount. This will depend on the insurance company.
Q. What happens to the No claim bonus if you claim your New India Assurance Family Mediclaim 2012?

Ans: If you claim in 1 year, you will no longer be entitled to get the No Claim Bonus. This is irrespective of the amount you are claiming.