Cholamandalam Health Insurance Benefits
Cholamandalam MS General Insurance Company is one of the largest public sector general insurance companies in India. It has built a strong reputation in the health insurance sector of India by providing comprehensive health insurance policies for individuals, families, seniors, critical illness patients, and so on. The company offers a variety of useful products for individuals and families, which can be renewed online.
The insurer also assists the policyholders in buying a health insurance plan without any hassle in a few minutes. Cholamandalam MS Health Insurance Company Limited offers a variety of policies that are designed to provide consumers with comprehensive coverage. AYUSH coverage, pre-hospitalization and post-hospitalisation coverage, pre-existing disease coverage, and so on are examples of these coverages. In addition to these, the insured members also acquire some added advantages such as cashless hospitalization, customer support, grace period option, lifelong renewability, portability, and so on.
Additional Benefit of Free Health Check up
Customers of Chola Health Insurance Company Limited are eligible for a free health check-up after two to three claim-free years, depending on the plan and variant. This advantage is incorporated into the maximum health products provided by the organisation.
Additional Protection over Employer Coverage
The insurance plan offered by the employer may not cover some ailments. As a result, with a proper health insurance policy from Cholamandalam MS, you can enhance your plan and benefit from additional protection.
Cashless Benefit
Health insurance policies offered by the Cholamandalam MS are framed to assist you in overcoming the stress pertaining to finance during a medical emergency. But, with policies that provide cashless benefits, one can easily avail cashless treatment at 7,000+ network hospitals across the nation.
Claim Settlement Ratio
The most significant reason to get a medical coverage plan is to guarantee that you will be paid for all or the maximum amount of medical expenses for which a claim must be filed and settled.Chola MS has a Claim Settlement Ratio of 56.25% for FY 2019-20. The claim settlement ratio changes from time to time.
Coverage against Medical Expenses
Chola MS General Insurance Company Limited offers comprehensive medical coverage plans that provide reasonable coverage against medical costs.Its policies usually provide the coverage for pre-hositalisation and post-hospitalisation costs, daycare procedures, ambulance charges, domiciliary hospitalisation charges, etc.
Incurred Claim Ratio
Incurred Claim Ratio is the rate of net claims settled and paid by the insurance providing company to the net premium collected. The Incurred Claim Ratio (ICR) for Chola MS for the year 2019-2020 was 40.67%. However, the ICR of the insurer keeps changing with time.
Tax Benefit
On buying the health insurance policies from Chola MS, the policyholders can enjoy tax-related benefits on the amount of premium paid as per the Section 80D of Income Tax Act, 1961.
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Key Features of Cholamandalam MS Critical Illness Insurance Policy
The critical insurance policy by Cholamandalam MS has many more features, such as:
- Portability option
- Cashless treatment
- Lifelong renewability
- Claim settlement support
- No medical test up to 55 years
With Cholamandalam MS Critical Healthline Policy in hand, your family can handle the situations and live a good life. On the other hand, you can get the best treatment in the best hospital in your area without having to exhaust your savings.
Cholamandalam Health Insurance Top Up List
- Top-up (2)
Name of Plan | Sum Insured | |
Super Top-up Insurance PlanMIn: 3 Months; Max: 70 Years | 3 Lakh | Check Premium |
Top Up Healthline PolicyMin: 3 Months; Max: 65 Years | 50 Thousand | Check Premium |
FAQs
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Are customers required to go through medical check-ups for buying health insurance policies from Cholamandalam MS insurance firm?
Yes, under a few plans by Cholamandalam MS the applicants are required to go through pre-acceptance medical screening or test. In case, if the proposal is accepted, 100% cost of the check-up is reimbursed to the applicant.
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Does Cholamandalam MS General Insurance Company offer coverage for critical illnesses under any of its policies?
Yes. Cholamandalam MS insurance firm offers a speficially-designed plan to provide coverage related to critical illnesses.
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Does Chola MS Insurance Company provide Hospital Cash benefit under any of its health plans?
Yes, Cholamandalam MS General Insurance Company provides a separate plan known as Chola Hospital Cash Healthline to offer hospital cash benefit to the customers.
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How to purchase and apply for health insurance policies plans by Cholamandalam MS General Insurance Company?
To buy a health insurance policy from Cholamandalam MS General Insurance Company applicants can either visit the company’s official website, i.e. www.cholainsurance.com or can buy it from the leading online broker’s website i.e., InsuranceDekho.com.