Bajaj Allianz Silver Health Plan

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.

Health care costs are increasing by the day. As the age of individual advances, the medical expenses increase manifold and are a strain on the pocket. Senior Citizens have to spend their hard-earned savings to meet these costs. Bajaj Allianz's Silver Health Plan for Senior Citizens shields you and your spouse in case you require costly medical care.

Highlights Bajaj Allianz Silver Health Plan

  • Available for Sum Insured between Rs.50,000 and Rs.5,00,000
  • Covers hospitalization expenses and an amount equivalent to 3% of allowable hospitalization costs in respect of any pre and post hospitalization expenses.
  • Compensates for ambulance charges in an emergency subject to a limit of Rs 1000
  • Covers pre-existing illnesses from the second year of the policy up to 50% of the sum insured
  • Offers Tax Benefits as per the prevailing Income Tax Law

Scope of cover

Indivdual Plan

Entry Age

For children : Nil

Adults :

Minimum : 46 years

Maximum : 70 years

Number of Members Covered

Maximum Members : 2

Maximum Adults : 2

Maximum Children : 0

Sum Insured

50,000 - 5 Lakh


Discount

Family Discount

Policy Periods Available

Annual


Pre-Policy Medical Check-up

Above 46 years

Family Floater Plan

Entry Age

For children : Nil

Adults :

Minimum : 46 years

Maximum : 70 years

Number of Members Covered

Maximum Members : 2

Maximum Adults : 2

Maximum Children : 0

Sum Insured

50,000 - 5 Lakh


discount

Family Discount

Policy Periods Available

Annual


Pre-Policy Medical Check-up

Above 46 years

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%.

      Pre Hospitalization

      Compensates for the Pre-Hospitalisation expenses for consultations, investigations and medicines incurred up to 3% of allowable Hospitalisation expense.

        Post Hospitalization

        Compensates for the Post-Hospitalisation expenses for consultations, investigations and drugs incurred up to 3% of eligible hospitalization costs.

          Good to Have Benefits

          PORTABILITY

          If you are currently insured with a different insurer and wish to switch to Bajaj Allianz Silver Health 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 as per the eligibility. The check-up can be carried out at an empaneled diagnostic center.

                  EMERGENCY AMBULANCE

                  Covers ambulance charges in an emergency subject to a limit of Rs 1000/- per claim.

                    Non - Allopathic Treatment Expense Cover
                    Video

                    Not applicable

                      Value Adds

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                      Eye-cover

                      Includes coverage for expenses on out-patient treatment of eyes. In some cases cost of spectacle is also covered under this benefit.

                        DENTAL COVER

                        Not applicable unless 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.

                            Add-on Covers

                            WAIVER OF CO-PAYMENT IN NON-NETWORK HOSPITALS

                            Waiver of the co-payment clause is available on payment of 15% loading on premium thus eliminating the co-payment requirement even if you choose to get treated in a non-network hospital.

                              PERSONAL ACCIDENT COVER

                              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

                                20% co-payment applicable for any treatment sought in a non-network hospital.

                                  CATARACT CLAIMS

                                  Payment in respect of surgery for cataracts (after the expiry of 1 year waiting period), will be restricted to 10% of the Sum Insured for each claim, subject to a minimum of Rs 12,000 and a maximum of Rs 25,000.

                                    Waiting Period

                                    Cooling off period

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

                                      Listed Diseases

                                      One year 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 12 months from the policy start date.

                                          4 Years exclusion for joint replacement surgery unless necessitated by accidental Bodily Injury.

                                          Permanent Exclusions

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

                                          • Attempted suicide
                                          • Use of alcohol or drug
                                          • Pregnancy, childbirth or related complications
                                          • Hospitalization primarily and specifically for diagnostic, X-ray or laboratory examinations and investigations
                                          • AIDS
                                          • The cost of spectacles, contact lenses, hearing aids, crutches, artificial limbs, dentures, dental prostheses and all other external medical equipment or devices used at home as post-hospitalization care.
                                          • Cosmetic or aesthetic treatments, Plastic surgery (unless necessary for the treatment of Illness or accidental Bodily Injury)
                                          • 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 Silver Health Plan

                                          Bajaj Allianz Silver Health Plan is tailor-made to tackle any healthcare costs for the senior citizens. It offers valuable benefits like coverage for 130 day-care treatments, cashless hospitalization & a cover for any pre-existing ailments from second policy year. If you prefer to overlook a steep co-payment of 50% on claims related to pre-existing condition and a limit on claims related to Cataract, this plan is packed with benefits that are worth considering. Moreover, if you opt for an increased cover for critical Illness concurrently with this policy, it will give you a broad coverage against major exigencies.

                                          **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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