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Health is precious if you want to live a life of your choice. You can achieve your goals and utilize your full potential if you are fit. But being fit does not mean you become careless; you need to be prepared for any medical emergency or illness in future. Planning ahead of any medical need can save your finances and will help you get immediate medical attention without worrying about expenses. To make health insurance more affordable and accessible, IRDAI has developed a standard health insurance policy across the industry, called Arogya Sanjeevani Policy which all health insurers are mandatorily required to offer.
Bajaj Allianz Arogya Sanjeevani Policy is a basic indemnity health insurance plan that covers expenses incurred due to hospitalisation, and daycare procedures, including pre and post-hospitalizations and AYUSH treatment. The policy also covers many new-age specialized treatments like stem cell treatment and robotic surgery, covering up to 50% of the sum assured.
Bajaj Allianz Arogya Sanjeevani Policy offers the following features to protect you financially during a medical need.
Sum Insured - The sum insured under this policy ranges from Rs. 1 lakh to Rs. 25 lakhs.
Coverage for the entire family - The policy offers to cover the entire family, including spouse, children, parents and parents-in-law. A financially independent child above 18 years is not eligible for coverage.
Policy Term - It is an annual policy with a term of 1 year and a lifetime renewal facility.
Premium Payment Options - Premiums can be paid on an instalment basis like monthly, quarterly, half-yearly or yearly payments.
Eligibility - An individual from 18 to 65 years is eligible to avail of this policy for self and family.
Cumulative Bonus - Cumulative bonus is increased by 5% for a claim-free policy year, subject to a maximum of 50% sum insured. CB is available only if the policy is continuously renewed within the grace period of 4 years.
Waiting Period - The waiting period in this policy is as follows
First 30 days from policy inception for treatment of any illness. Only accidental hospitalizations shall be covered.
First 24/48 months from policy inception for any listed ailments and procedures.
First 48 months from policy inception for any listed procedure or declared pre-existing disease.
Portability - The policy is portable and can be migrated to other insurers as per IRDAI guidelines.
Co-payment - Each and every claim under the policy is subject to a co-payment of 5% of the claim amount. The amount payable is the amount after the deduction of co-payment.
There are several reasons why you should opt for a Bajaj Allianz Arogya Sanjeevani policy:
Coverage under the policy includes:
However, there are some exclusions under this plan as well:
The claim for Bajaj Allianz Arogya Sanjeevani Policy can be either cashless or as a reimbursement.
A cashless facility at network hospitals can be availed 24/7 for any of the health insurance policies by Bajaj Allianz. For planned hospitalization, inform the insurance company at least 48 hrs in advance with details of the hospital and treatment. For emergency hospitalization, the company should be informed within 24 hrs of the hospitalization.
When you are admitted to a hospital not within the network zone of the insurer, you need to pay for the treatment out of your own pocket and then claim for the same after the treatment is done as a reimbursement.
In a cashless claim, only the health card, your KYC details, and the doctor’s advice for hospitalisation need to be submitted. The rest of the documents would be submitted by the hospital itself.
However, for a reimbursement claim, all documents need to be provided by you. The following list of documents should be provided along with the claim request:
This is all about Bajaj Allianz Arogya Sanjeevani Policy. If you have not yet taken a health insurance cover and have no idea which health cover is best for you, this is the best policy with comprehensive coverage for your entire family.
Ans: The usual policy term for Bajaj Allianz Arogya Sanjeevani Policy is 1 year. However, it offers lifetime renewal benefits.
Ans: It offers a sum insured ranging from Rs. 1 lakhs to Rs. 25 Lakhs.
Ans: This sum insured can be changed at the time of the renewal or according to the underwriting by the company.
Ans: Yes. The policy covers pre-existing diseases after a waiting period of 48 months.