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Family Floater Mediclaim Policy

If you wish to get a comprehensive coverage for your entire family including your parents, New India Family Floater Mediclaim policy is a perfect choice. The policy covers you, your spouse, a maximum of two dependent children along with your parents with a minimum sum assured of Rs.2 lakh and the maximum of Rs.8 lakh. It also offers lifetime renewability and the tax benefits on the premium paid as per the prevailing Income Tax laws.

Highlights of Family Floater Mediclaim Policy

  • Offers lifelong renewability
  • Pre-policy medical screening required only for those above the age of 50 years. (50% of the medical check-up will be refunded if you buy the plan)
  • Covers Congenital Internal Disease or Defects or anomalies after a particular waiting period up to a maximum of 10% of the average sum insured in the preceding four years.
  • This plan has a premium loading of 2% per year from the age of 65 years on the relevant premium for the age band of 60 and 65 years.
  • Income Tax Benefit under Section 80D of IT Act

Family Floater Plan

Entry Age

For children : 91 days

Adults :

Minimum : 18 years

Maximum : 60 years

Number of Members Covered

Maximum Members : 6

Maximum Adults : 4

Maximum Children : 4

Sum Insured

2 - 5 lakhs


discount

Family discount

Policy Periods Available

1 year


Pre-Policy Medical Check-up

Above 50 yrs of age

Important Features

Day Care Treatments

Due to scientific advancement, some procedures/treatments do not require you to be hospitalized for a minimum of 24 hours to raise a claim. This plan covers 74 such procedures.

    Organ Donor Cover

    If you ever have to opt for organ donation, the hospitalization expenses (excluding the cost of the organ) on the procedure for the donor will be covered up to the sum insured.

      Pre Hospitalization

      The insurance company will compensate you for the medical expenses related to your hospitalization 30 days before the hospitalization.

        Post Hospitalization

        The insurance company will pay you for the medical expenses related to your hospitalization 60 days post hospitalization.

          Good to Have Benefits

          Daily Hospitalization Allowance

          You can claim for this benefit up to a maximum limit of 1% of the sum insured where the hospitalization exceeds 24 hours. This benefit applies to every case of an admissible claim and for every member.

            Non- Allopathic Treatment Expense Cover

            You can claim for any treatment sought through alternate medicine like Ayurveda, Unani or Homeopathy up to a maximum of 25% of the sum insured. This claim will be honored as per the policy terms only if you seek the stated treatment in a Government Hospital or any institute duly recognized by the Government or any other governing body.

              Emergency Ambulance

              This plan provides ambulance cover for the actual cost or up to a maximum limit of 1% of the sum insured, whichever is less.

                CATARACT COVER

                You can claim for any expenses related to cataract surgery up to a maximum limit of Rs.50,000 or 10% of sum insured for each eye, whichever is less.

                  Value Adds

                  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.

                    Critical Illness Cover

                    In case the insured person is detected with any listed critical illness during the policy period, the company will pay a flat 10% of the sum insured as an additional benefit apart from the admissible claim.

                      Terms & Conditions

                      Room Rent / Room Category

                      You can claim for the hospitalization basis the following limits:

                      • Room rent/boarding/nursing expenses up to a maximum of 1% of sum insured per day
                      • ICU charges up to 2% of sum insured per day

                        Co-Payment

                        The premiums of the policy are Zone-specific. Hence, if you avail the treatment outside the zone you have paid for, then you will have to bear either 10% or 20% of the claim amount. In a nutshell, 10% or 20% co-pay will apply if you get treated outside the zone you have paid the premium.

                          Waiting Period

                          Cooling Off Period

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

                            Specific Illnesses

                            The policy covers some specific diseases/treatments only after 24 months. These include Cataract, Hysterectomy, Myomectomy for Fibroids, and so forth.

                              Pre-Existing Illnesses

                              You can claim for any pre-existing conditions after a waiting period of 48 months from the policy start date.

                                Permanent Exclusions

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

                                • Whose signs or symptoms first occur within 30 days of the policy period
                                • Attempted suicide
                                • Use of alcohol or drug
                                • AIDS
                                • Pregnancy, childbirth, miscarriage, and abortion
                                • Infertility and in vitro fertilization.
                                • Vaccination & Inoculation
                                • Hospitalization out of war, riot, strike and nuclear weapons

                                Note: The complete list of what is omitted from the scope of coverage forms a part of the policy wordings. Kindly refer the same for additional reference.

                                Review of New India Assurance Family Floater Mediclaim Policy

                                With all useful features like lump sum cash in the event of critical illness, cover for ayurvedic and homeopathic treatment and cataract, New India’s Family Mediclaim is one to consider if you are primarily looking to cover your parents. Zone-based co-pay can be a discouraging factor, but in the case of a planned hospitalization, it can well be avoided. The policy, in general, is a worthy investment at a pocket-friendly price.

                                **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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