National Insurance Company Limited is India oldest general insurance company. It is a government undertaking and provides all types of insurance required today in the world of uncertainty. One of its highly appreciated health insurance policies is National Insurance Mediclaim Policy. This policy covers all the hospitalization expenses that are incurred reasonably and necessarily on the illness or disease of the insured person. What are the features of the National Insurance Mediclaim Policy? What are the major exclusions of Mediclaim Policy offered by National Insurance? Should you consider this National Insurance Mediclaim Policy?
National Insurance Mediclaim Policy Overview and Features
It comes in two forms for individuals as well as for the whole family. With the increasing uncertainty in life, the medical insurance india expenses have become an evitable part of life. It increases the financial burden on an individual all of a sudden. The individual Mediclaim policy helps to scatter this burden.
This policy covers individuals between the age group of 18 to 65 years.
Dependent children between the age of 3 months to 18 years can also be covered under the same policy provided that any one of the parents is covered at the same time.
The sum insured ranges between Rs 50,000 to 5,00,000 in the multiples of 25,000.
What are the Benefits offered by the National Insurance Mediclaim Policy
The policy provides the reimbursement of hospitalization expenses which are reasonable and necessarily incurred under the following heads.
Room, boarding and nursing expenses up to 1% of sum insured per day and 2% of the sum insured for ICU (subject to a maximum of 25% of the sum insured.
Fees of surgeon, doctors, anesthetic and medical practitioners up to the limit of 25% of the sum insured.
Expenses incurred on account of blood, oxygen, anaesthesia, operation theatre charges, surgical appliances, X-ray, artificial limbs, cost of organs, chemotherapy, radiotherapy, medicine and drugs, dialysis, cost of pacemaker, diagnostic material and similar expenses subject to an overall limit of 50% of the sum insured.
Ambulance charges up to 1% of the sum insured with a limit Rs. 2,000 in the overall period of the policy.
Expenses incurred on the homeopathy and Ayurvedic treatment are admissible up to 20% of the sum insured for any one illness.
Health check up expenses are reimbursed at the end of the block of 4 years (continuous claim free policy years), up to 1% of the average sum insured in those 4 years.
Premium paid towards the policy taken for himself, spouse, dependent children or dependent parents are exempt from income tax under the section 80D.
What are the major exclusions in National Insurance Mediclaim Policy?
All pre existing diseases are covered after 48 months of the continued policy period.
No claims are entertained before 30 days from the inception of the policy except for accident cases.
Waiting period of 6 months for certain specific diseases/treatment.
Diseases like AIDS, STD, HIV are also not covered.
Cost of spectacles, contact lenses, dental treatment, hearing aid and cochlear implants.
Cosmetic treatment, hormone treatment, genetic disorders and pregnancy and related complications are not covered.
The claim arising due to any disease or accidental injury arising out of excessive consumption of alcohol/drugs is also considered.
Conclusion: The National Insurance Company is a very renowned company offering a wide range of health insurance covers. In today world, it has become the necessity of all the people. But, pay due attention to the terms and conditions attached to the policy before taking it. Review all the expenses that are covered so that you Don miss out any at the time of claim.