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Oriental Bank Mediclaim Policy was introduced on 3rd October 2011. Oriental Bank of Commerce and The Oriental Insurance Company together signed an agreement to sell mediclaim policies to its customers. The policy is designed exclusively for the account holders of Oriental Bank of Commerce. The Mediclaim policy is available in all OBC branches across the nation. Oriental Bank Mediclaim policy takes care of different medical and hospitalisation expenses of the policyholder during the policy tenure. The company reimburses the medical expenses incurred against the treatment received by the insured. The Oriental Bank Mediclaim Policy is health insurance that also comes with a family floater option.
Cashless Treatment: Policyholders can avail cashless treatment in network hospitals. When you get hospitalised at network-listed hospitals, you get to enjoy the cashless treatment facility.
Pre and Post Hospitalization: 30-day policy cover is available for expenses incurred before hospitalisation and 60 days policy cover is offered for medical expenses incurred post hospitalisation.
Ambulance Charges: Reimbursement up to maximum Rs.1000 in any Policy period allowed towards ambulance expenditure.
No Claim Bonus: The Company offers a no claim bonus in terms of increase up to any available Sum Insured is allowed.
Medical Check- Up: No medical check-up is required. However, if the Proposal Form reveals adverse Medical History in respect of any proposed individual, the individual may be subject to pre-insurance Medical tests.
Tax Benefits: Tax benefits are available under Section 80D of the Income Tax Act, 1961. Premiums paid up to Rs. 25,000 per year can be claimed as tax deduction for policyholders. In case of senior citizens, premiums paid up to Rs. 50,000 can be claimed as tax deduction.
Plan Option: This plan does not have any options.
Reimbursement: For any treatment done at home instead of hospitalisation with a valid reason, the company reimburses the expenses for 3 days subject to10% of Sum Insured, Maximum Rs. 25000/- during the Policy period.
Pre-Existing Disease: All pre-existing diseases are covered after three years of uninterrupted premium payment towards the health insurance policy.
Sum Insured: For Oriental Bank Mediclaim, the minimum sum insured is Rs. 1,00,000, whereas the maximum amount is Rs. 10 lakhs. This policy can be taken either for the self alone or along with the family with Sum Insured on floater basis.
Coverage: Oriental bank Mediclaim Policy is formulated after considering the various insurance needs of individuals. The company offers comprehensive insurance coverage that meets pre and post hospitalisation needs, ambulance charges, daily cash allowance, day care expenses, and cashless treatment at network hospitals.
Premium Charges: Oriental Bank Mediclaim premium charges are as follows-
|SI/Age in years||0-40||41-60||61 and above|
Premium shown above is in Indian rupees. Premium is to be charged based on the age of the proposer Accountholder. Taxes as applicable shall be extra. Above Premium is irrespective of the family size of up to five members. Day care procedures covered: 116 Day care treatments are covered under this policy, which does not require a hospital stay for 24 hours because of advancement in medical techniques. These treatments are generally referred to as day care treatments are specified procedures are covered under this policy.
Organ Donor Benefits: In the case of organ donation, the donor charges are covered under the policy.
Oriental Bank Mediclaim Policy provides much needed financial cushion in the case of sudden or planned hospitalisation. Here are some value-added benefits of the policy:
(“Domiciliary hospitalisation” means medical treatment for illness or disease which in the normal course would require treatment at a hospital, but is taken care at home under specific situations)
Exclusions under Oriental Bank Mediclaim policy are,
|Entry age||Entry age Minimum: 3 months, Maximum 79 years|
|Number of Members Covered||5|
|Sum Insured||Minimum – 1 lakh, maximum – 10 lakhs|
|Policy Period||1 year|
|Pre-policy Medical Check-up||Not required|
It is important to note that the Oriental Bank Mediclaim policy is available only for the customers of Oriental Bank. Following is the list of documents required to purchase the health insurance policy.
You can renew Oriental bank Mediclaim policy in three easy steps.
Step 1: Visit the online portal of Oriental insurance
Step 2: Enter your previous policy number, insurance code and the policy expiry date.
Step 3: You can make payment via debit card, credit card or net banking facility to complete the purchase.
It is important to note that renewal is allowed after a policy year is completed. The policyholders have 30 days grace period to opt for policy renewal.
The notice should be given to the insurance company by fax or email with the details related to policy number, ID card number, name, nature of the disease, etc. The notice should be given to the insurance company within 48 hours of the admission or before taking discharge from the hospital, unless it is mentioned in writing.
Claim Procedure to Avail Cashless Service
Below is the list of documents that should be submitted to the company within 7 days of the discharge from the hospital to make a claim.
Oriental bank Mediclaim Policy provides the much-needed financial support in case of sudden or planned hospitalisation. The plan includes some key features to meet the different health insurance needs of people. Only the account holders and employees of the Oriental Bank of Commerce can take advantage of this insurance policy. It is a helpful insurance scheme for them as the coverage provided is high and at an affordable price. It is a great health insurance policy for those who want comprehensive coverage with lifetime renewability.
Review of Oriental Bank Mediclaim Policy
Oriental Bank Mediclaim Policy is available across the bank's national network. Oriental Mediclaim policy is an insurance cover which takes care of a number of medical expenses following a sudden illness, hospitalisation due to an accident, or in case the policyholder needs to undergo a surgery for any condition arising during the policy tenure. The Oriental insurance company reimburses the treatment expenses borne by the policyholder. The sum insured that a customer can opt for varies between Rs. 1 lakh and 10 lakhs.