Oriental Individual Mediclaim Insurance
Oriental Individual Mediclaim Insurance Overview
Mediclaim Insurance by Oriental Insurance Company takes care of medical expenses following Hospitalisation/Domiciliary Hospitalisation of the Insured in case of in case of a sudden illness/accident or any surgery.
Eligibility Criteria For Oriental Mediclaim Insurance
- Minimum age- 18, maximum- 80 years for treatment taken in India.
Oriental Mediclaim Insurance Policy at a glance
- The sum insured available ranges from Rs.50000/- to Rs.500000/-
- Policy can be for individual or family members (discount of 10% in premium).
- Early entry Discount: If a person takes the Policy before reaching the age of 45 years and has renewed itcontinuously then for each renewal 5% discount up to a maximum of 25% will be given till 55 years of age.
- Free look period: 15 days is allowed for reviewing the policy from the date of receipt.
- The premium under the policy is eligible for Income Tax benefit under section 80D.
Benefits of Oriental Mediclaim Insurance Policy
- Inpatient hospitalization expenses are covered.
- Pre-existing diseases are covered from the fifth year if the policy is maintained on a continuous basis.
- Cost of Health Check-up: Expenses up to 1% of the average sum insured is covered.
- Cashless facility for claim settlement in network hospitals.
- Pre acceptance medical examination is not required if the insured is below 45 years of age. 50% cost is borne in case of a fresh proposal.
- Ambulance services - 1% of the sum insured or Rs 2000/- whichever is less. Room and Nursing expenses up to a maximum of 1 % of the Sum Insured or Rs. 5000 /- per day whichever is less.
- I.C. U expenses up to 2% of the Sum Insured or Rs. 10,000 /- per day whichever is less.
Documents required for Oriental Mediclaim Insurance Policy
- Complete Proposal form and enrolment form in duplicate.
- Coloured stamp size photograph.
Premium Details of Oriental Mediclaim Insurance Policy
How to cancel Oriental Mediclaim Insurance Policy
Misrepresentation, fraud, moral hazard or non-cooperation on behalf of the insured might lead to cancellation of policy making way for appropriate refund.
In such cases a notice period of 30 days is provided.
|Period on risk||Rate of Premium to be retained by the insurer|
|Up to 1 month||1/4th of annual premium|
|Up to 3 month||1/2 of annual premium|
|Up to 6 month||3/4th of annual premium|
|Exceeding 6 months||Full annual premium|
*The above rates may vary. Please check the policy wordings for more details.
Exclusions in Oriental Mediclaim Insurance Policy
- All treatments within the first 30 days of cover excluding accidental injury.
- Pre-existing condition is covered after a waiting period of a maximum of 4 years.
- Expenses arising from HIV or AIDS and related diseases/Congenital diseases/Genetic disorders, mental disorder or insanity, cosmetic surgery and weight control treatments.
- Hospitalization due to war/related situations.
- Pregnancy, dental treatment, external aids and appliances.
- Experimental, investigative and unproven treatment devices and pharmacological regimens.
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