Group Mediclaim Policy

Any Group/Association/Institution/Corporate body of more than 50 persons can take a group Mediclaim policy. In essence a group health insurance policy is an insurance cover applied for by the employer, with the Insurance Company. The employer would usually bear the entire premium or only a part of it.

This Policy covers (subject to conditions):

  • Hospitalization expenses incurred within the country, due to illness/disease &/or due to accident during the Policy period.
  • Room, Boarding expenses as provided by the Hospitalization/Nursing Home, and Nursing Expenses. Surgeon, Anesthetist, Medical Practitioner, Consultants, Specialist Fees Anesthesia, Blood, Oxygen, Operation Theater Charges, Surgical Appliances, Medicines and Drugs, Diagnostic Materials and x-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, Artificial Limbs and Cost of Organs and similar expenses.

Group Personal Accident Policy

Considering the fact that modern-day life is so dangerous, perhaps it would be a good idea to take a look at personal accident insurance policies that are on offer. Accidents that disable can threaten livelihood and accidents that cause death can leave your family in a financial mess. Personal Accident Policies can be helpful in such times. Personal Accident policy provides coverage and security to a person in case of death / bodily injury due to an accident. Organizations take these policies for their employees.

The subject matter insured is the life of the insured. This insurance policy is ideal for insuring a group of people against the risk of any accidental death / injury during the policy period. Broadly, personal accident policies cover you for one or more of four contingencies in the event of an accident: death, permanent total disability, permanent partial disability and temporary total disability. It also covers the loss of your income during the period of temporary disability by payment of additional premium.

If any accidental injury being the sole and direct cause (within 12 calendar months) results in Death/ Permanent total disability, 100% of the Sum Insured will be payable. For permanent partial disability and temporary total disability, the benefits vary from insurer to insurer. Also note that the policy operates on a world wide basis.

Overseas Mediclaim Policy

This policy is for any Indian resident traveling abroad. A corporate frequent traveler can avail a single annual policy. It is mandatory in some Western countries for a visitor to their country to be covered by a Health Insurance Policy. In its absence, he may run the risk of repatriation or quarantining in the airport itself. Medical treatment is expensive overseas and can become a major financial problem in case of any emergency/ accident. Hence, this policy will come in handy in case of any medical trouble abroad.

The policy covers Medical Expenses, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport and Personal Liability.

Overseas Travel Insurance

Going abroad? Busy with packing and making arrangements? But in this busy schedule have you ever thought about the contingencies/risks you may face while you are abroad. Contingencies can be a medical emergency or an accident or personal liability? Interestingly, if you look at the insurance packages, what is being offered today is not just health but a comprehensive package that ensures compensation and peace of mind when travelling abroad. Any pretty good travel insurance policy should provide coverage like medical expenses, expenses regarding travel delay, emergency return from journey, 24 hour emergency service assistance, rented car damage, accidental death during the trip, legal assistance or compensation to any baggage delay etc.

Prior to liberalization of insurance sector, the four public sector general insurance companies offered these policies (called Overseas Mediclaim policy or OMP). But now that the insurance sector is opened up most of the general insurance companies are also offering these products.

The policy for corporates is issued for a period of 1 year covering any number of visits within a year with each visit extending to a maximum of 30 days. However maximum period up to which one can be covered varies from company to company.