Benefits of Bajaj Allianz Health Insurance
Bajaj Allianz General Insurance Company is a joint venture between two companies – Bajaj Finserv Limited which is the Indian counterpart and Allianz SE which is the foreign stakeholder in the company. Bajaj Allianz General Insurance Company was formed in the year 2001 for selling general insurance products both in the retail and commercial segments.
Ever since its formation, Bajaj Allianz has grown with leaps and bounds and today is present across 800 cities and towns of India. The company has acquired iAAA rating from ICRA showing its efficiency in claim settlements and customer service and also has a range of awards under its belt.
The health insurance category of Bajaj Allianz is quite varied. The company offers every possible type of health insurance like individual plans, family floater plans, senior citizen plans, top-up plans, critical illness plans, etc.
Additional Benefit of Free Health Check upBajaj Allianz’s health insurance plans have an inbuilt coverage for free health check-ups. The insured can avail this benefit at specified intervals. Health check-ups up to a certain amount can be done which would help individuals to monitor their health.
Additional Protection over Employer CoverageBajaj Allianz plans allow employees to have independent health insurance coverage besides their employer’s group health plan. The various health plans offered by the company can be bought by employees having group health insurance. They can then enjoy additional coverage benefits and have complete protection against medical contingencies.
Cashless BenefitCashless claims are the best since they eliminate the hassle of paying for the hospital bills. Bajaj Allianz has a tie-up with more than 6,500 hospitals in India which allow customers of the company to avail cashless treatments.
Claim Settement RatioBajaj Allianz promises to settle the claims of its customers within an hour. As such, the company has 93.95* claim settlement ratio. A high ratio indicates that the company settles most of its claims thereby promoting trust amidst the company’s customers. In the year 2017-18, the company processed more than Rs. 2.9 Lakh health insurance claims. *The claim settlement ratio change from time to time.
Coverage against Medical ExpensesThe wide variety of health insurance plans offered by Bajaj Allianz provides a comprehensive scope of coverage. You can avail coverage against hospitalisation expenses, pre and post hospitalisation expenses, day care treatments, non-allopathic treatments, domiciliary treatments, etc. There are also fixed benefit plans like critical illness and hospital cash plans which pay a fixed benefit irrespective of the actual medical expenses incurred.
Incurred Claim RatioFor the year 2018-19, Bajaj Allianz had an Incurred Claim Ratio (ICR) of 85%*. Since the ratio was below 100%, it meant that out of the total premiums collected by the company only 77.61%* of the premium was used for paying claims. The remaining contributed towards meeting the company’s expenses and generating a profit which made the company financially stable. *The incurred claim ratio change from time to time.
Tax BenefitThe premiums paid on health insurance plans are eligible for deduction under Section 80D. The maximum deduction that you can claim is up to Rs. 55000 (Rs. 25000 of individual and Rs. 30,000 for senior citizen).
Bajaj Allianz Health Insurance Plan List
|Name of Plan||Sum Insured|
|Health Guard Family FloaterMin: 3 Months; Max: 65 Years||1.5 Lakh||Get Quotes Now|
|Critical Illness PlanMin: 6 Years; Max: 65 Years||1 Lakh||Get Quotes Now|
|Health Guard IndividualMin: 18 years; Max: 65 years||1.5 Lakh||Get Quotes Now|
|Silver HealthMin: 46 Years; Max: 70 Years||50 Thousand||Get Quotes Now|
|M-Care Min: No Limit; Max: 65 Years||10 Thousand||Get Quotes Now|
|Women Specific Critical Illness InsuranceMin: 21 Years; Max: 65 Years||50 Thousand||Get Quotes Now|
|Premium Personal GuardMin: 5 Years; Max: 65 Years||10 Lakh||Get Quotes Now|
|Health Care SupremeMin: 3 Months; Max: No Limit||5 Lakh||Get Quotes Now|
|Health EnsureMin: 3 Months; Max: No Limit||50 Thousand||Get Quotes Now|
|Hospital Cash Daily AllowanceMin: 3 Months; Max: 65 Years||500/day||Get Quotes Now|
|Surgical Protection PlanMin: 3 Months; Max: 65 Years||1 Lakh||Get Quotes Now|
|Tax GainMin: 18 Years; Max: 75 Years||1 Lakh||Get Quotes Now|
|Arogya Sanjeevani PolicyMin: 3 Months; Max: 65 Years||1 Lakh - 5 Lakh||Get Quotes Now|
|Corona Kavach PolicyMin: 1 day; Max: 65 years||50,000 - 5 lakh||Get Quotes Now|
Bajaj Allianz Health Insurance User Reviews
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Bajaj Allianz Health Insurance FAQs
How to buy and apply for Bajaj Allianz Health policy?
You can buy and apply for any Bajaj Allianz Health Insurance Policy online from the official website of Bajaj Allianz Health Insurance at www.bajajallianz.com or through online broker’s website like insurancedekho.com.
Why should I buy a Bajaj Allianz Health Insurance Policy?
Bajaj Allianz provides a wide range of features and benefits to its customers. Some of them are- 1. Peace of mind: It keeps your family financially protected against unforeseen health care expenses. 2. Get the best medical care: The health insurance plans enable you to get treatment from the best hospitals and doctors. 3. Cashless settlement: You can get cashless treatment at any of the network hospital after informing the company. 4. Hassle-free claims: Bajaj Allianz has a hassle-free claim process. You can benefit from the following: a. 24x7 on-call support. b. An in-house Health Administration Team to ensure quick claim settlement process. c. Cashless settlements in under one hour. d. One of the highest claims settlement ratios among health insurance providers in India. e. Health CDC benefit: Quick claim settlement through the app. 5. Comprehensive coverage: Affordable health insurance policies that cover you and your family against medical expenses, critical illnesses and accidents. 6. Affordable plans: Maximum coverage at a price that is easy on the pocket. 7. Preventive care: Free medical check-ups once every three claim-free years. 8. Ease of transaction: Buy or renew your policy in just a few clicks online.
What is covered under hospitalisation in Bajaj Allianz Health Insurance?
Following things are covered under hospitalisation in Bajaj Allianz Health Insurance: 1. Room rent 2. Doctor’s fee 3. Nursing expenses 4. ICU charges 5. Operation theatre 6. Diagnostics 7. Medicines
What are the benefits provided by Bajaj Allianz Health Insurance?
People choose Bajaj Allianz health insurance because it provides them: 1. Cashless treatment at 6,000+ network hospitals 2. Tax saving benefit under Sec 80D 3. Claim settlement in an hour (terms and conditions applied) 4. In-house health administration team
What is the toll-free customer care number of Bajaj Allianz Health Insurance?
The toll-free number of Bajaj Allianz Health Insurance is 1800-209-5858.
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