TATA AIG MediRaksha Plan

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Introduction/Overview

This is a simple term insurance policy that aims at providing financial support in your absence. It is a basic medical insurance plan, covering emergencies and illnesses, hospitalization and surgical treatments.

Key Features

  • Lifelong renewal provided premium is paid without any break.
  •  Income tax benefit on the premium paid as per Section 80D of the Income Tax Act.
  •  Family Floater Option is allowed under this plan. 10% Family discount in Individual plan if  2 or more family members are covered.
  •  Free Look Period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy
  •  No sub limits for treatments and hospitalization benefits
  •  No loading on renewal in case of a claim
  •  No medical check-up up to 55 years.
  •  Ease of Timely Claims Settlement.

 

Benefits

In-patient treatment

Pre hospitalization and post hospitalization

Day care procedures

Organ Donor expenses

Health Checkup

Network of Hospitals

 

Details About Premium

Annual premium in Rupees

 

 

 

*The above rates may vary. Please check the policy wordings for more details.

Policy Details

Minimum sum assured – 50000

Maximum sum assured – 1 lakhs

Coverage type: Individual/ family floater

Grace period: 30 days for renewing the Policy. However, coverage would not be available for the period for which no premium has been received.

Policy termination: 3 months prior to the expiry of the policy

Additional Features Or Riders

  • Additional 7.5% discount by paying premium of 2 years in advance
  • Sum Assured can be enhanced at the time of  renewal
  • Copayment of 15%,on each and every claim under this policy

Exclusions

  • Pre existing disases will not be covered for the first 4 policy years given there has been continuous renewal from the policy start date
  • Treatment done in the first 30 days from the commencement of the policy, unless the treatment is done as a result of accident or emergency. This is referred to as a waiting period.
  • Any illness or disease contracted due to intake of alcohol/drugs or other addictive substances will not be covered.
  • The waiting period for specific conditions will be 24 months. Any pre-existing condition will be covered after a waiting period of 48 months.

Documents Required

To buy the policy, an ‘Application form/ proposal form’ needs to be submitted by highlighting accurate medical history along with the address proof. It is required to undergo a medical test in some cases, based on the sum insured and the age of the person.

Eligibility

The entry age for the policyholder, spouse and parents is 18 years to 65 years with lifetime renewal option.