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- About Coverfox
Formed on January 22, 2001, TATA AIG General Insurance Company Limited is established as a joint venture between Tata Group and the American International Group (AIG). While Tata Group is one of the largest conglomerates of India, AIG is an international insurance company which has its presence in more than 100 countries worldwide.
TATA AIG is recognized for its quick claim and hassle-free claim settlement.
Since 2001, TATA AIG has made it a goal to provide insurance products so as to meet the needs of their customers. As a result Tata AIG was awarded as the “General Insurer Claims Team of the Year” by Claims Awards Asia 2013. Tata AIG offers consumer as well as commercial general insurance plans.
Auto Secure – Private Car Package Policy: Auto Secure is a comprehensive car insurance policy, which covers the mandatory third party financial liability as well as damages faced by the car. The policy allows 12 comprehensive types of add-on covers, which can be added to the plan for an enhanced scope of protection. The company arranges free car pick-ups in case of any claims where the car requires repairs. The repairs done on the car come with a 6 months warranty against any faulty repairing. Moreover, the plan guarantees the use of top-quality and genuine spare parts and materials used in repairs.
Auto Secure – Two-wheeler Package Policy: This is a comprehensive policy designed for your two-wheeler. The policy pays claims if your two-wheeler suffers any damages or if you cause damages to a third party or property. In this policy, there are seven add-on covers available. The policyholder can choose any one or more add-ons by paying an additional premium for increased coverage. If no claims are made in any year, the policyholder can earn No Claim Bonus discounts on the renewal premiums. Moreover, the repaired parts have a pre-defined rate of depreciation to ensure maximum claim settlement.
Auto Secure – Two-wheeler Long Term Policy: This is a comprehensive two-wheeler insurance plan, which is offered for a longer tenure stretching up to 3 years. Thus, the policyholder is spared the hassles of renewing his two-wheeler insurance policy every year. The long-term policy has several benefits besides reducing the hassles of annual renewals. Firstly, the third party premium component of the plan does not change during the policy tenure. Secondly, even in case of a claim, you do not lose the entire NCB discount. Thirdly, you get discounts in premium if you choose a long-term policy.
Liability Only Policy: This is the mandatory third party liability policy as per the regulations of the Motor Vehicles Act, 1988. The policy covers any financial liability, which arises if your vehicle causes bodily injury to a third party or damages the surrounding property belonging to a third party.
Travel insurance plans are important as they cover financial contingencies faced when traveling abroad or within the country. Tata AIG offers four different types of travel insurance plans which are discussed in brief below:
Travel Guard: Travel Guard is an international travel insurance policy which covers international travel. The policy is available either as a single trip plan covering one trip or an annual multi-trip plan which covers multiple trips taken within a year. This plan comes with $0.5 million medical cover. In addition to medical cover, this plan covers the accidental coverages, baggage loss, baggage delay, loos of passport, personal liability, hijacking, flight delay, etc. The plan allows an emergency assistance in times of crisis and repatriation of remains is available anywhere in the world. The plan comes in different variants and each variant has a different Sum Insured level and coverage benefit.
Student Guard – Overseas Health Insurance Plan: This is an international travel insurance plan covering those students who are going abroad for higher education. There are five plan options and the maximum coverage allowed is $500, 000. This covers study interruption – reimbursement of un-used tuition fees due to various factors. In addition to that, this plan covers the accidental coverages, baggage loss, baggage delay, loos of passport, personal liability, hijacking, flight delay, etc. The plan provides a special extension with unique coverage features like maternity benefits, cover for mental or nervous disorders, child care, cancer screening, mammography, Physiotherapy, coverage for pre-existing illnesses in life threatening conditions, study interruption, sponsor protection, fraudulent charges in payment card security, etc. The policyholder can also increase the Sum Insured on plan renewals if required.
Asia Travel Guard Policy: If you are travelling to any foreign country within Asia (except Korea and Japan), this policy is for you. The policy offers different types of assistance services besides the regular travel insurance cover. These services include referral for medical services provider, arrangement of admission to the hospital, assistance for loss of luggage, services for emergency travel and Embassy referral and information service for claims procedure. The plan can be taken by anyone travelling to an Asian country up to 70 years of age.
Domestic Travel Guard Policy: This is a travel plan meant for travelling within India. the policy covers accidental death and dismemberment, missed air or rail departure, emergency medical reimbursement, accommodation expenses incurred in case of trip delay, loss of tickets and emergency medical evacuation. Moreover, the plan also allows round the clock 24*7 assistance for any claim-related queries which the policyholder has.
A health insurance plan has become a very important requirement in every individual’s financial portfolio. Tata AIG also understands the importance of a health insurance plan and offers different kinds of health plans to prospective customers. Here is a brief discussion on all health plans offered by the company.
MediPrime – Cashless health insurance: Tata AIG’s MediPrime is a comprehensive health insurance plan which allows cashless claim settlement facility. The plan does not require any medical check-ups if the policyholder is aged up to 50 years and the Sum Insured is up to Rs.5 lakhs. The hospitalization expenses do not have any sub-limits and there is no co-pay clause in the plan. Accidental dental treatments, daily cash for accompanying minor child, post-bite vaccination cover and free health check-ups are some coverage features which are allowed under the plan.
Wellsurance Executive Policy: This policy is designed to cover executives. The plan pays a lump sum benefit in case of hospitalization, ICU admission, for any surgeries, convalescence benefits, outpatient expenses and post hospitalization. 9 Critical Illnesses are covered under the plan and in case of diagnosis of any illness a lump sum benefit is paid to the policyholder. Coverage is available for up to Rs.7.5 lakhs. The plan has a Wellsurance benefit which provides various health-related facilities like free health helpline, health portal, health-related queries, discounted health and wellness services and e-newsletters.
Wellsurance Family Policy: This policy is available as a family floater plan covering the entire family. A lump sum benefit is paid under the plan for hospitalization, ICU admission, for any surgeries, convalescence benefits, outpatient expenses and post hospitalization. Under this plan, 11 critical illnesses are covered and a lump sum benefit is paid even in case of diagnosis of any illness. Moreover, the plan has a children’s education benefit where the lump sum is paid in case of accidental death or total disability of the policyholder. Wellsurance benefit is also available where various health related facilities are provided by the plan.
Wellsurance Woman Policy: This is a health plan especially designed for women. The plan covers 11 critical illnesses, hospital cash allowance, convalescence benefit and cosmetic reconstruction surgeries in case of an accident. A lump sum benefit is paid for these coverage features. The maximum available coverage is up to Rs.7.5 lakhs and the plan offers health-related benefits through Wellsurance advantage. The policyholder can get e-newsletters, call a free health helpline, ask questions for any health-related queries and get discounts in health and wellness services.
Critical Illness: This is a fixed benefit health insurance plan which covers 11 listed illnesses. The plan pays the lump sum benefit in case the policyholder is diagnosed with any of the covered illnesses. Lifelong renewals are provided under the plan and in case of critical illnesses the plan also allows a free second opinion.
Individual Accident & Sickness Hospital Cash Policy: This is a personal accident policy, which provides a comprehensive coverage and can be taken as a supplement to an existing health insurance plan. The plan has no pre-entrance health check-ups. In case of accidents and illness a daily hospitalization benefit is paid under the plan. Hospitalization Cash upto 180 days. You can opt for self or family. Maximum daily cash in case of sickness ranges from Rs.500/day to Rs.5000/day, depending on the plan. Medical expenses incurred in case of accidents are reimbursed and the plan can be taken by individuals aged up to 65 years.
MediPlus: MediPlus is a top-up health insurance plan. This plan allows you to increase your existing health insurance cover at minimal additional premium outgoes. The plan covers pre and post hospitalization, in-patient hospitalization, domiciliary treatments, day care treatments, emergency ambulance costs, etc. Lifelong renewability is available with the plan and the applicable deductibles can be waived if the Sum Insured is Rs.5 lakhs and above and the insured is below 50 years of age.
MediSenior: MediSenior is a senior citizen health insurance plan meant for covering older individuals who are aged 61 years and above. The plan offers lifelong renewals and covers organ donor expenses, domiciliary treatments, ambulance expenses up to Rs.2000, day care procedures, etc. The plan can be taken for a 2-year tenure and pre-existing illnesses are covered after 48 months.
MediRaksha: This is an affordable health plan for low-income individuals who are restricted with premium affordability and still require a health cover. There are no pre-policy health check-ups till 55 years of age. There are discounts in the premiums of the plan for covering 2 or more members under the plan or for buying a 2-year policy and paying premium at once. The plan covers in-patient hospitalization, pre and post hospitalization, organ donor expenses, free health check-ups after 4 years, day care treatments, etc.
Group Accident & Sickness Hospital Cash Policy: This is an accident and sickness cover, which is for a group of individuals. There are no pre-policy health check-ups and the plan pays a fixed benefit in case of accidental hospitalization or for hospitalization in case of sickness. Medical expenses incurred in case of accidental injuries are also reimbursed under the plan.
Accident Guard Policy: This is a personal accident policy, which provides coverage up to Rs.1 crore. The plan covers accidental death and dismemberment and permanent loss of use. There are 5 optional benefits available under the plan too. These benefits include tuition benefit, repatriation of mortal remains, home alteration and vehicle modification benefit, double dismemberment benefit for children and family transportation.
Injury Guard Policy: The policy covers accidental death, factures, burns, medical expenses incurred for an accidental injury, home alteration and vehicle modification benefit and temporary total disability caused due to an accident. There is no pre-policy check-up required to buy the plan and the plan can be taken by individuals aged up to 75 years.
Income Guard Plan: This is also a personal accident plan, which covers accidental death, dismemberment and loss of use of any physical part of the body due to an accident. Tuition benefit, home alteration and vehicle modification benefit, repatriation benefit and family transportation benefit are also provided with the plan.
Secured Future Plan: This plan pays a monthly income in case of an accident. The policyholder can choose any monthly income amount and the benefit is then guaranteed to be paid for a term of 5 years to 20 years. The monthly incomes are triggered in case of accidental death, dismemberment and paralysis and in case of permanent total disability. No pre-entrance medical screening is required and the maximum entry age is 70 years.
Secure Income High Policy: The plan covers accidental death, dismemberment and permanent total loss of limbs. In case of any of these contingencies, the lump sum benefit of 10% of the Sum Insured is paid. Thereafter, the plan pays monthly incomes of the remaining Sum Insured for 60 months. Hospital daily cash allowance benefit can also be added to the policy by paying an additional premium.
Maha Raksha Personal Injury Policy: A cash benefit is paid under the plan for accidental injuries and hospitalization. The plan covers accidental death, fractures, burns, hospital daily cash and loss of activities of daily living. Individuals aged 18-75 years can buy the policy and the benefits are payable despite any other health insurance claims payable.
When you think of TATA AIG for all your insurance needs, you get the best of two world – TATA, a trusted name for decades and AIG, one of the oldest and internationally recognized insurance provider. With more than 20 awards in their pocket since their inception in 2001, TATA AIG has been consistent in fulfilling their customer’s needs. The company offers various plans and if you are looking to buy any plan you can contact Coverfox at 1800-209-9970 for relevant details.