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Bajaj Allianz Health Guard Family Floater Plan

Bajaj Allianz Health Insurance

3/5

It is a collaboration between Bajaj Finserv Limited and Allianz SE. Both brands are well-known for their expertise, stability, and durability. Bajaj Allianz earned the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May 2001 to carry out several businesses (including Health Insurance business) in India.

Bajaj Allianz's Health Guard Family Floater Policy is a comprehensive health insurance policy for you and your family. It is intended to take care of the medical expenditures incurred during hospitalization following a severe illness or disaster. It covers your entire family on a floater basis, i.e., the sum insured can be used to meet hospitalization or other permitted expenses for any of the insured member under Bajaj Allianz Health Guard Family Floater Policy.

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Highlights of Bajaj Allianz Health Guard Family Plan

  • No restriction on Room Rent/ICU Rent
  • Option to renew the policy till the age of 80 years
  • Compensation towards the Ambulance Charges of Rs.1,000 per hospitalization
  • Coverage for 130 daycare procedures that do not require 24 hrs hospitalization
  • Cumulative bonus of 10% for every claim free year
  • Value Added Services like OPD discounts and rebate on Pathologies at select outlets.
  • Income Tax Benefit Under Section 80D of the Income Tax Act 1961

Scope of cover

Family Floater Plan

Entry Age

For children : 91 days

Adults :

Minimum : 18 years

Maximum : 65 years

Number of Members Covered

Maximum Members : 6

Maximum Adults : 2

Maximum Children : 4

Sum Insured

2 Lakh - 10 Lakh


discount

Family Discount

Voluntary Deductible Discount


Policy Periods Available

Annual


Pre-Policy Medical Check-up

Depending on Age & SI


Important Features

Day Care Treatments

The plan covers the expenses towards 130 day-care procedures that would otherwise require hospitalization of a minimum of 24 hours.

No-Claim Benefits

For every claim-free year, you will be entitled to a 10% cumulative bonus for the next policy year up to a maximum of 50% of the sum insured.

Pre Hospitalization

Compensates for the Pre-Hospitalization expenses for consultations, investigations and medicines incurred up to 60 days before Hospitalization

Post Hospitalization

Compensates for the Post-Hospitalization expenses for consultations, investigations and drugs incurred up to 90 days after discharge from Hospitalization.

Good to Have Benefits

PORTABILITY

If you are currently insured with a different insurer and wish to switch to Bajaj Allianz Health Guard Family Floater Plan, you can do the same without losing your accrued benefits after the waiting periods.

TAX BENEFITS

You can avail tax benefits for the premium amount paid towards this plan under Section 80D of the Income Tax Act, 1961.

SUM ASSURED ENHANCEMENT

You can apply for enhancement of Sum Insured at the time of renewal by submitting a new proposal form to the company.

HEALTH CHECK-UP

The plan allows you for a complimentary health check at every four claim free years for the list of tests defined in the policy wordings. The check-up can be carried out at an empaneled diagnostic center.

Emergency Ambulance

You can claim up to Rs.1,000 per hospitalization towards the emergency ambulance charges.

Value Adds

VOLUNTARY DEDUCTIBLE

This plan has the option to opt for the voluntary deductible in the range of Rs.10,000 to Rs. 2,50,000. With each deductible option, a discount in the range of 10 % to 32 % is offered.

DISCOUNTS

When you buy the plan, you are eligible for some discounts at health and fitness centers across the country such as OPD, Pathologies, Radiology, Wellness Tests, Pharmacy, and so on.

Dental Coverage
Video

Not applicable unless it required due to an accidental injury.

FREE LOOK PERIOD

For any reason, should you decide not to proceed with the policy, you can return the same and request for a refund within 15 days from the date of receipt of the policy document.

Terms & Conditions

Co-Payment

You will have to bear 10% of co-payment if you seek the treatment in any hospital outside the network. Similarly, 20% co-pay applies to any insured person aged 56yrs and above, being covered for the first time in the Family Floater Health Guard Policy.

CATARACT SURGERY CLAIMS
Video

Surgeries for cataracts (after waiting period of 24 months) shall be restricted to 10% of the sum insured for each and every claim (or the actual amount whichever is lower), up to a maximum of Rs.35,000/- for each of the protected members.

Waiting Period

Cooling Off Period
Video

A 30 days cooling off period for all claims except any arising out of accidental injuries.

Specific Diseases

24 months waiting period for few listed conditions like any types of gastric or duodenal ulcers, Benign prostatic hypertrophy, Endometriosis, Fibromyoma, etc.

Pre-Existing

You can claim for any pre-existing conditions expenses after 48 months from the policy start date.

Listed Treatments
Video

There’s a waiting period of 48 months for the procedures such as Joint Replacement Surgery, Surgery for prolapsed intervertebral disc, and so on.

Permanent Exclusions

The Plan will not cover any liabilities towards the treatments of following conditions-

  • Attempted suicide
  • Use of alcohol or drug
  • AIDS
  • Congenital external are excluded permanently. Congenital internal have waiting period of 4 years
  • Cosmetic, aesthetic or related treatment
  • Infertility and in vitro fertilization.
  • Hospitalization out of war, riot, strike and nuclear weapons

The detailed list of what the policy does not cover is available in the policy wording.

Review of Bajaj Allianz Health Guard Family Floater Plan

Bajaj Allianz's Family Floater Health Guard Plan includes a family on floater basis with a choice of an adequate sum insured. With coverage of day care treatments and laser eye surgery (after waiting period of four years), the plan comes with no sub-limits on room rent and boarding. However, the co-payment clause during claims and no cover for maternity and lack of a lump sum benefit for critical illness can be a bit damper. Overall, a decent plan to consider if you are contemplating to buy a health plan covering your family on floater basis.

**Reviews and ratings are based only on Benefits and Conditions. Things like Claim Settlement Ratio, Hospital Network have not been covered under product ratings. These are covered under Company ratings.

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