Religare Health Insurance

Religare Health Insurance Overview

Religare Health Insurance Company Limited is a leading health insurance vendor and specializes in distribution of a range of health insurance products. Religare has its stakeholders holding three interrelated organizations - Religare Enterprise Ltd, Corporation Bank, and Union Bank of India. Religare Health Insurance Co. Ltd. is marketed by the people behind India's leading super-specialty hospital chain, Fortis Healthcare Ltd. The Religare Health Insurance Co Ltd has its strong presence across 1700 locations all over India.

Today, health insurance has become more than a necessity for everyone, keeping in view the increasing healthcare and hospitalization costs. Also, the present lifestyle of individuals makes them more vulnerable to various diseases that certainly require medical assistance. With its services ranging from healthcare delivery to preventive health solutions, Religare Health Insurance Co. Ltd. has a robust distribution channel in the Indian insurance market. Religare health insurance plans are easily available online and individuals can choose from a range of options in each category, such as Individual and Family Floater.

Religare Health Insurance Policy Term

Why Buy Religare Health Insurance Plans?

Health Insurance has become an essential thing for everyone in the modern age due to the increasing cost of medical expenses and treatment of different ailments. Besides, current lifestyle of individuals makes them more prone to multiple diseases and ailments that certainly require medical attention. Medical costs are spiraling upwards and there is no relative growth in the income of an individual who eventually faces the financial crisis in the event of a medical emergency. Thus, it is recommended to insure oneself against any medical contingencies that may arise so that the insurer can take care of the insured financially and one does not have to suffer from financial crisis whatsoever. It is highly recommended to spending few hours for all policyholder to compare various health insurance options before going for a Religare Health Insurance renewal or buying a new Religare Health Insurance Plan. Religare Health Insurance Co. Ltd. primarily specializes in health insurance domain. Launched in 2012, Religare offers a range of individual, family floater, and group/corporate insurance plans. When it comes to why buy Religare health insurance plans, here are the reasons:

• The company offers health insurance plans for families up to 6 members (4 Adults and 2 Children)
• Its health insurance plans offer expense coverage for up to 30 Days and 60 Days prior to and post hospitalization
• The insured can avail free medical checkups
• Pre-existing diseases are covered after a waiting period of 4 years
• Its policies are lifelong renewable and the policyholder does not have to worry about any financial issue that may strike in a medical emergency.

Key Benefits and Features of Religare Health Insurance Plan

Religare Health Insurance offers a bag full of mixed features that make it an obvious choice for you and your family. These customized features are specially designed for individual customers while keeping their key requirements in view. Following are the key advantages of Religare Health Insurance Plans:

• Healthcare Legacy: A strong and well-established healthcare legacy, backed by India’s leading healthcare units – Fortis Healthcare Limited, Religare Wellness, and SRL Diagnostics. Rich healthcare experience makes the company best choice for you.
• Ultra-wide Hospital Network: An option to choose treatment at home or a leading hospital across India.
• Easy Communication: Just bring your requirements to the company and you will get an adequate resolution right away. No additional overhead or third-party involvement and direct communication.
• Most Suitable Products: The insurance products offered by the Religare health insurance company are highly convenient. Insured can avail treatment globally and can ensure a good health with regular health check-ups.

Religare Health Insurance Plan Add On Covers

The following are the Add on Covers offered by Religare with all their plans.

• No Claim Bonus Super: This add on cover provides an increase of your sum insured by 50% for every claim-free year up to maximum 100%.
• Everyday Care: This add on cover provides you with 1% of your Sum Insured for doctor consultation & diagnostic tests each.
• Unlimited Automatic Recharge: This add on cover provides re-instatement of your sum assured in your policy every time it exhausts, for an unlimited number of times.
• Air Ambulance Cover: This add on cover provides proper coverage for treatments which are not in your city.
• Personal Accident Cover: This add on cover provides Accidental Death cover and Permanent Total Disability cover for up to 10 times of the Sum Insured.
• International Second Opinion: This add on cover provides you the option to consult doctors before going ahead with any course of treatment.
• Global Coverage: This add on cover provides cashless cover at network hospitals across the globe.

List of Religare Health Insurance Plans

Religare Health Insurance Company Limited has a super strong network of hospitals with assured cashless treatment in a hassle-free manner. Try Religare health insurance premium calculator to know how much premium you have to pay for a particular policy. The various health insurance policies offered by Religare are given in the comprehensive table below:

Let us discuss each plans in detail:

Religare Care Health Insurance Plan

This Religare Health Insurance plan offers complete coverage to you and your family with assured quick claim settlement and hassle-free life throughout your life. Following are the key features:

• A wide network of over 4758 hospitals with cashless facility
• Auto-renewal health insurance policy when exhausted
• Free annual health check-ups for the family
• Global healthcare treatment
• Online policy payment & no paperwork

Additional Benefits

• Pre-hospitalization expenses for up to 30 days and post-hospitalization expenses for up to 60 days.
• No cap of vital expenses, viz. doctor consultation fee and more.
• No 'co-payment' plan up to 60 years of age while for above 60 years of age, an option to choose 3 to 4 lakh plan.
• No claim-based loading at the time of renewal.
• Up to 100% NCB (no claim bonus).
• 15 days of policy trial and instance cancelation.
• Tax benefits u/s 80D and 3-years policy with 10% discount and 2-year policy with 7.5% discount.

Eligibility

• Minimum age of entry: 90 days.
• Maximum age of entry: no bar.
• Policy Renewal: Throughout life.
• Premium on renewal: Subject to change with IRDA approval.
• Waiting Period: up to 30 days in case of any illness and not an injury.
• Renewal Relaxation Period: 30 days post policy expiry.
• Update Sum insured: Sum Insured is subject to change upon policy renewal.

Religare Joy Health Insurance Plan: A Maternity Insurance Focused Plan

This Religare Health insurance plan covers hospitalization expenses in case of pregnancy along with both health and maternity needs, not only at present but also tomorrow. Religare believes in the miracle of life, which is the most joyous experience of the lifetime. Following are the key features:

• A wide network of over 4758 hospitals with cashless facility
• Great blend of medication and healthcare
• Maternity claims with a waiting period of 24 months
• No claim bonanza brings 100% increase in Sum Assured
• Newborn baby coverage if any

Additional Benefits

• A three-year policy that powers you shift your focus onto what's more important for you, instead of worrying about policy renewal, claim and so forth.
• Tax benefits on premiums paid towards the health insurance policy, as per Income Tax Act.
• 15 days of policy trial and instance cancelation.
• Free day care treatment across a wide network of over 4758 hospitals.
• Maternity expenses covered, in case of hospitalization for child delivery.
• Free coverage of newborn baby for up to 90 days, and then at standard premium payment.
• Pre-hospitalization expenses for up to 30 days and post-hospitalization expenses for up to 60 days.
• No claim bonanza brings 100% increase in Sum Assured.
• Private air-conditioned room.

Eligibility

• Minimum entry age: 18 years for an adult, 1 day for a child as well as a newborn.
• Maximum entry age: 65 years for an adult, 24 years for a child, and 90 days for a newborn.
• Policy exit age: Lifelong.
• Coverage type: Individual/Family
• Premium on renewal: Subject to change with IRDA approval.
• Waiting Period: up to 30 days in case of any illness and not an accident, 2 years for maternity, 24 months for medication/treatment, 48 months for any existing disease.
• Policy term: 3 years.
• Maternity coverage: up to 45 years of age.

Religare Care Freedom: Senior Citizen Health Insurance

This Religare Health Insurance policy is specifically designed for senior citizens in your family. Now, you can take better care of elderly members in your family with assured health coverage up to Rs. 10 Lakh. Here are the key features:

• Flexible policy terms (1 year/2 years/3 years)
• Cashless treatment across 4758 hospitals nationwide
• Inpatient hospitalization cover up to sum assured
• The benefit of annual health check-up
• 100% additional sum assured upon exhaustion of sum assured
• Ambulance coverage up to Rs. 1000 per hospitalization

Additional Benefits

• Coverage up to 10% of pre-hospitalization expense
• Coverage up to 10% of post-hospitalization expense
• Companion benefit up to Rs. 15,000 if hospitalization exceeds 10 days
• Coverage for domiciliary hospitalization expense up to 10% of sum assured after 3 days

Eligibility

• Minimum entry age: 46 years (Individual) and Eldest insured individual - 46 years (floater)
• Maximum entry age: Lifelong (Individual) and Lifelong (floater)
• Proposer's age: 18 years of above
• Coverage type: Up to 6 members (Individual/floater)
• Initial waiting period of 30 days

Religare Enhance Health Insurance: A Top-up Insurance for already Insured

Increasing medical inflation demands extra care for you and your family at a significantly lesser premium, as Religare Health Insurance does not want you to have any extra burden that could turn out to be a financial crisis for you. Following are the key features:

• A wide network of over 4758 hospitals with cashless facility
• Free annual health check-ups for the family
• No claim-based loading at the time of renewal.
• Online policy payment & no paperwork
• 170 daycare procedures

Additional Benefits

• No cap for vital expenses, viz. doctor consultation fee and more.
• Free annual health check-ups for the family
• Pre-hospitalization expenses for up to 30 days and post-hospitalization expenses for up to 60 days.
• No claim-based loading at the time of renewal.
• 15 days of policy trial and instance cancellation.
• Tax benefits u/s 80D and 3-years policy with 10% discount and 2-year policy with 7.5% discount.

Eligibility

• Minimum entry age: 1 day.
• Maximum entry age: No bar.
• Premium on renewal: Subject to change with IRDA approval.
• Renewal Relaxation Period: 30 days post policy expiry.
• Waiting Period: up to 30 days in case of any illness but not an injury.
• Co-payment: You have to pay only 20% of the claim if you enroll at the age of 61 years.
• Group Discount: Subject to group size, 5 to 20%

Religare Assure Health Insurance Plan : A Critical Illness Benefit Plan

Today’s trending lifestyle introduces several risks in your life, which you would want to ignore but couldn’t really find the way out. This Religare health insurance plan offers comprehensive coverage for 20 critical illnesses, including a personal accident. Following are the key features:

• Up to 20 critical illnesses covered
• Accidental death covered
• Permanent disability covered
• Free annual health check-ups
• Quick claim settlement by the company
• Zero days survival

Additional Benefits

• A lump sum amount equal to total Sum Insured is given to the family, in case of accidental death or permanent disability.
• Free annual health check-ups for the family
• Additional option to get a doctor (if required) at no additional cost.
• Income Tax benefits on premiums paid towards the Health Insurance policy u/s 80D as per Income Tax Act.

Eligibility

• Minimum entry age: 18 years.
• Maximum entry age: 65 years.
• Insurance coverage: Individual/family floater
• Policy renewability: Lifelong
• Under this Religare Health Insurance Plan, Sum assured is 3 lakh to 1.20 crore
• Discount: 3-years policy with 10% discount and 2-year policy with 7.5% discount

Religare Secure Health Insurance Plan: A Personal Accident Insurance

This Religare Health Insurance policy directly addresses each concern that arises in the event of a personal accident. It brings various additional benefits, including hassle-free claim settlement, thoughtful services while the recovery procedure remains certain with ensured good health at the end of the day. Following are the key features:

• Accidental death covered
• Coverage for reconstructive surgery
• Coverage for permanent/partial disability
• Coverage for child education

Additional Benefits

• Under this Religare Health Insurance Plan, Sum insured is paid to the nominee, in case of a tragic loss.
• Coverage for any surgery or fracture as advised by a medical expert or doctor.
• Sum insured is paid to the nominee, in case the insured goes missing over a period of one year.
• Coverage for any expense that resulted due to artificial arm/leg/eye or for medical equipments, viz. hospital bed, wheelchair and so on.
• Reimbursement of ambulance expenses incurred due to any medical emergency.

Eligibility

• Minimum entry age: 91 day.
• Maximum entry age: 24 years for child and 70 years for adult
• Policy renewability: Lifelong
• Policy issuance: Subject to underwriting and approval
• Change in occupation: Information regarding change in occupation or profession is expected
• Document verification: You might require to appear for document verification
• under this Religare Health Insurance Policy, Any existing disease/ailment or symptoms/surgery within initial 30 days of policy start.
• Any self-inflicted injury, viz. Suicide etc.
• Medical expense incurred for treatment of alcohol/drug consumption.
• Medical expense incurred for treatment of AIDS.
• Any congenital disease.
• Treatment arising from abortion/miscarriage/childbirth or a similar case.
• Hospitalization due to war/nuclear weapons/riots/strike.
• Treatment of infertility.

Exclusions In Religare Secure Plan

• Any existing disease/ailment or symptoms/surgery within initial 30 days of policy start.
• Any self-inflicted injury, viz. Suicide etc.
• Medical expense incurred for treatment of alcohol/drug consumption.
• Medical expense incurred for treatment of AIDS.
• Any congenital disease.
• Treatment arising from abortion/miscarriage/childbirth or a similar case.
• Hospitalization due to war/nuclear weapons/riots/strike.
• Treatment of infertility.

How to Buy or apply for Religare Health Insurance Plan

All of Religare’s Health Insurance plans can be bought easily by initiating the process online by following the steps on their websites.

The dedicated customer care team at Religare will follow up with the rest.

Religare Health Insurance Plan Inclusions

Religare Health Insurance Plans offer coverage for the following, included in all their plans.

• In patient hospitalization
• Pre-hospitalization
• Post-hospitalization
• Domicilliary hospitalization
• Health Check-up
• Alternative Treatments
• Day Care Treatments
• Room Rent
• Organ Donor Cover
• No Claim Bonus
• Second opinion
• Recharge of SI

Religare Health Insurance Plan Exclusion

The exclusions to the Religare Health Insurance plans vary from plan to plan.

However, the following are the exclusions that are common to all the plans.

• Any diagnosis of diseases or any undergoing of surgery whose signs or symptoms first occur within 30 days of Policy Period Start date.
• Expenses attributable to self-inflicted injury i.e. resulting from suicide or attempted suicide
• Expenses attributable to alcohol or drug use/misuse/abuse
• Medical expenses incurred for treatment of AIDS.
• Treatment due to pregnancy and childbirth, miscarriage, abortion and its consequences
• Congenital disease.
• Tests and treatment relating to infertility and in-vitro fertilization.
• Hospitalization due to war, riot, strike, nuclear weapons.

How to Claim Religare Health Insurance?

The Religare Health Insurance Company requires intimation from your side within 24 hours of immediate hospitalization or before 48 hours of a planned hospitalization.

In case of Cashless Hospitalization:

Collect the Religare health insurance claim form available at the insurance desk of the hospital and submit it to insurer through fax or email. Following are the possibilities:

• Approval letter sent by the claim management team

• Query raised by the claim management team

• File expense reimbursement

In case of Planned Hospitalization:

Submit the Religare Health Insurance claim reimbursement form along with the required documents. Following are the possibilities:

• Approval letter sent by the claim management team

• Query raised by the claim management team

• Reason of rejection is communicated

• Immediate written intimation or call to the insurance company with the particulars required

• Present the health insurance card issued by the company to avail cashless benefit as per religare health insurance hospital list

• Claim form duly submitted to the insurance company

• Submit medical certificate issued by the doctor/hospital

• Submit discharge form issued by the doctor/hospital

• Report issued by medical examiner

• FIR or Police Report if personal accident covered

• Death certificate

• Post-mortem report

• Medical documents issued by the doctor/hospital

In case of Accidental Injuries

• Immediate written intimation or call to the insurance company with the particulars required.

• Present the health insurance card issued by the company to avail cashless benefit as per religare health insurance hospital list

• Claim form duly submitted to the insurance company.

• Submit medical certificate issued by the doctor/hospital

• Submit discharge form issued by the doctor/hospital

• Report issued by medical examiner

• FIR or Police Report if personal accident covered

• Death certificate

• Post-mortem report

• Medical documents issued by the doctor/hospital

In case of Accidental Death

• FIR or Police Report if personal accident covered

• Death certificate

• Post-mortem report

• Medical documents issued by the doctor/hospital

Note: For any other assistance regarding insurance policy or claim, contact Religare health insurance customer care. You can also check your Religare health insurance claim status anytime on a call.

Religare Health Insurance Renewal

Religare health insurance provides you with an assurance for adequate health coverage. This coverage remains active as long as you renew your religare health insurance policy before the due date. Religare health insurance renewal is very simple and quick. All you need to do is provide your existing policy details, viz. policy number along with some personal details, such as your name, date of birth, etc., and make the renewal payment electronically. Use a credit card, debit card or internet banking to renew Religare health insurance online. As soon as you make the payment, you receive the policy renewal confirmation. It’s that simple!

Procedure to Renew Religare Health Insurance Plan Online

It is essential to renew Religare health insurance policy to make sure the coverage remains in force. If your existing Religare health insurance policy has expired or is about to expire, then here is the time. Get it renewed before the due date to stay covered, as you never know when a medical emergency strikes.

To get started, log onto Religare health insurance website and click on Renew option provided on the top menu. This will open a new page in a new tab. There will be several fields where you need to enter the following details to process your Religare health insurance renewal.

1. Under the 'Use Your Existing Details to Renew' dialog box, provide your existing policy number and Date of Birth
2. Click on the Submit button to continue
3. Further, you need to provide the details asked on the website to get your health insurance policy renewed
4. You can make the premium payment through Internet Banking, or use a Debit or Credit Card

Once the policy is renewed, you will get a confirmation for the same. You can also renew your current religare health insurance policy on Policybazaar.com. Simply enter the required information to compare and get the best health insurance quotes online.

Religare Health Insurance - FAQs

Q. What is the need to buy a Religare Health Insurance Policy?

Every individual has a high risk of being affected by various health related issues. People who are not covered by a health insurance policy pay hefty amounts of medical bills from their own pockets in case of hospitalization arising out of an injury or illness. Basically, an uninsured can exhaust his savings in event of a medical contingency. Also, in such a scenario, a person might also have to borrow funds for the medical treatment in case of insufficient savings.

In such a situation, a Religare Health Insurance Policy can prove to be a blessing. Religare Health Insurance ensures protection from unforeseen medical contingencies as well as the financial urgencies arising out of an illness or injury.

Health insurance covers the cost of private medical treatment for illness and injury that is curable.

Religare Health Insurance is a necessary measure considering the skyrocketing medical expenses and the uncertain environment nowadays. Thus, insuring yourself and your family by a health insurance policy is mandatory and should be a certain element of your financial plan.

Q. What is co-payment in Religare health insurance plan?

Co-Payment option can be availed after insured member turns a certain age. Co-pay is that part of your claim amount, which you will have to bear. Co-pay can be a percentage of the sum insured or an absolute amount.

Q. What are the benefits of buying Religare Health Insurance at an early age?

The following are the benefits of buying Religare health insurance plan at an early age:

• The premium of a health insurance plan increases with the age of the policyholder. Meaning, the higher the age, higher the health insurance premium.
• Religare Health Insurance plan covers the medical issues that might get identified over years. However, there shall not be a halt in the health insurance policy.
• Additionally, each claim-free year under Religare Health Insurance plan fetches a considerable discount on the amount of the next due premium. It might also benefit the policyholder by increasing the amount of sum insured under the policy.
• Lastly, the premiums paid towards the Religare Health Insurance plan qualify for a deduction under the section 80 C of the Income Tax Act, 1961.

Q. Explain the working of a floater cover under Religare Health Insurance?

A family floater cover, basically, provides coverage to the entire family of the policyholder, including his spouse and children, against all kinds of medical contingencies. This kind of Religare Health Insurance Plan requires the policyholder to pay a single premium for providing coverage to the entire family. For instance, if an individual buy individual health insurance plans for his children, spouse and himself for a sum assured of Rs. 1 Lacs each, then he would have to pay premium varying from Rs. 1,000 to Rs. 2,000 per policy.

While, if he buys Religare Floater Health insurance Plan that offers a sum assured equal to Rs. 3 Lacs, then the premiums that he would need to pay will be considerable less than the sum of premiums paid for individual plans. Moreover, the floater plan ensures a sum assured of Rs. 3 Lac as against the sum of Rs. 1 Lac offered under individual plans which can be a useful trait in case of major health problems for which the treatment cost might go beyond Rs. 1 Lac. This sum of Rs. 3 Lacs is collectively as well as individually available for all the members insured under the policy.

Q. What all is excluded from a standard Religare Health Insurance Policy?

The following is not covered under a  standard Religare Health Insurance Policy:

• Any surgery, operation, disease, illness or event that occurs or shows first signs or symptoms within initial 30 days of the term of the policy.
• Expenses incurred to cure self-inflicted injuries arising out of attempt to suicide etc.
• Medical costs incurred due to any disease, disease, ailment or event arising out of alcohol consumption or drug abuse.
• Any amount spent for the medical treatment of HIV/AIDS
• Congenital disease
• Medical expenses incurred on child birth or for treating any medical issues arising out of childbirth or pregnancy. For example, abortion, miscarriage, etc.
• Expenses made for treatment and tests arising out of infertility or vitro fertilization.
• Medical contingencies arising out of riot, war, strike, nuclear threat, etc.

Q. How does the auto recharge feature under Religare Health Insurance work?

Under this feature, Religare, the health insurance provider, automatically recharges the sum assured under the policy, in event of sum assured or accumulated no claim bonus getting exhausted while the term of the policy id going on. As per this feature, the sum insured is recharged one time per policy year. Recharged Sum Assured can be availed for the claims in future but not for a disease or illness (or complications arising out of it) against which the policyholder has already made a claim during the current year.

Q. What is a No Claim Bonus under Religare Health Insurance?

The concept of No Claim Bonus under Religare Health Insurance works on the same grounds as a car insurance policy. The policyholder is benefitted by the insurer for not making any claim in a policy year. This benefit is usually provided in the form of a discount on the subsequent premium.

Similarly, a standard Religare Health Insurance Policy forwards this benefit t its customers by by increasing their policy sum by 10% against no-claim year. Also, the policyholder is not required to pay any extra amount against this hike. Meaning, If a policyholder does not make any claim for one complete policy year, then the sum assured equal to Rs. 5 Lac under Religare Health insurance Policy will further extended by Rs. 50,000 in the subsequent year without having o pay an extra amount of premium. Additionally, if he does not make a claim even in the third year of the policy, then he will get another hike in the sum assured equal to 10% of the base sum assured. Meaning, his sum insured will grow to Rs. 6 Lacs. However, a maximum of 50% (i.e. Rs. 2,50,000) hike in the sum insured can be offered as total no claim bonus.

Also, in event of a claim being made, the bonus that has been accumulated will be reduced by 10 per cent.

Q. For what reasons can there be a deduction in the claim amount of Religare Health Insurance?

A deduction from the claim amount can be made due to following reasons: 

• Non-Medical expenditures, such as snacks, phone bills, etc. aren’t payable,
• Treatment expenses without presentment of appropriate documents, such as prescription or bills,
• Exhausting of the Sum Insured,
• Amount more than particular sub-limits
• Applicability of Co Payment,
• Limitation of expenses in case of a particular benefit or treatment,
• Unavailability of original ills or reports,
• Expenses incurred on any treatment that is not related to the issue the patient has been admitted for.

Q. How can an individual make a reimbursement claim?

In event of a claim for reimbursement, the policyholder bears the expense of hospitalization (insured expenses) himself and later claims from the insurer to reimburse those expenses. The policyholder, in such a scenario, needs to present the original documents and papers related to the treatment, such as bills, to the insurer and inform them about the hospitalization according to the terms and conditions of the policy. 

Q. Explain the Claim Processing and Reimbursement under Religare Health Insurance Policy?

• The in-house medical team of Religare Health Insurance reviews the entire case and the documents related to the case submitted by the claimant.
• In case the policyholder’s request regarding the expenses to be reimbursed is accepted, he will be duly informed by the company.
• In event of any deficiency of information or requirement of some more information, the policyholder is instantly intimated in order to ensure a resolution for the same as soon as possible.
• If case the policyholder’s claim request gets rejected, then the same is communicated to him in addition to the reasons for refusal. However, one can reapply in case he or his representatives have some additional documents to substantiate the case.

Q. How can one cancel his Religare Health Insurance Policy?

Religare Health Insurance allows the policyholder with a free-look period in order to review the terms and conditions of the policy carefully. In case the policyholder is not satisfied with the policy, he can apply for the cancellation of the health insurance policy during this free-look period. However, the policyholder will have to pay the premiums on the pro-rated basis for the number of days for which the policy was active along with the medical tests done before the policy, and the stamp duty. The remaining part of the paid premium shall be refunded to the policyholder.

Also, one can apply for the cancellation of the Religare Health insurance Policy anytime during the term of the policy. In such case, amount if premium according to the short scale grid shall be refunded to the individual. This grid is well-mentioned and explained in the terms and conditions of the policy. However, if the policyholder has made a claim already, then no amount shall be refunded to him on cancellation of the policy.

Q. What are the documents required for Religare Health Insurance Portability?

Religare Health Insurance Company requires you to submit the following documents attached with a duly filled portability form:

• A copy of your existing health insurance policy
• A copy of policy renewal notice
• CARE proposal form

Q. How do you differentiate between a family floater insurance and critical illness insurance or hospital cash insurance?

A family floater as well as an individual health insurance policy works on the principle of indemnity, which means that you will only get your medical bills and hospitalization expense reimbursed. On the other hand, a critical illness insurance policy or hospital cash insurance policy pays you the entire sum insured when you fall sick and avail hospitalization cover, irrespective of your medical/hospitalization expense.

Q. What is beneficial for me - floater insurance or individual insurance?

You are recommended to choose a floater policy at a young age while individual insurance is advisable when you are old. This is because you are more prone to diseases and consequent hospitalization when you are old than when you're young. And therefore, you have to pay a higher premium.

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