ManipalCigna Health Insurance Benefits

Present in India across 15 leading cities, ManipalCigna Health Insurance Company Limited has been recognised widely for the products and services that it offers. When it comes to health insurance, the company offers a wide range of unique options that provide comprehensive coverage. Individual health insurance plans, family floater health insurance plans, senior citizens health insurance plans, critical illness health insurance plans, and other types of health insurance plans are available.These plans offer the policyholders unparalleled coverage benefits. The insurer also has a good Claim Settlement Ratio (CSR) which indicates that it can handle the claims well.

Additional Benefit of Free Health Check up

ManipalCigna Health Insurance plans offer the policyholders the benefit of free health check-ups. The policyholders can avail this benefit either once every year or once in a period of 2-4 policy years.

Additional Protection over Employer Coverage

Employers typically give group health insurance to their employees. These group plans, on the other hand, may not provide adequate coverage or the required coverage advantages.ManipalCigna Health Insurance therefore offers employees with independent health insurance plans to supplement their employer’s coverage at affordable premiums.

Cashless Benefit

ManipalCigna has partnered with some of India's most renowned hospitals to provide you with cashless claim advantages. When you file a cashless claim, you don't have to pay for your medical expenses yourself; instead, the insurance company pays them immediately.By partnering with leading hospitals, ManipalCigna​ provides customers easy access to cashless claims.

Claim Settlement Ratio

ManipalCigna​ has a good Claim Settlement Ratio (CSR) of 85.72% for FY 2019-2020. This shows that the insurer endeavours to settle its claims smoothly within the stipulated time. The company has a dedicated in-house claim management team which helps the insured in getting their claims settled within the shortest possible time. Note that the CSR of an insurance company changes from time to time.

Coverage against Medical Expenses

ManipalCigna's health insurance policies provide comprehensive coverage features. In-patient hospitalisation, day care procedures, organ donor treatments, domiciliary therapies, ambulance services, and other charges are covered by the plans. Furthermore, some plans cover the insured for emergency worldwide coverage, making their scope of coverage global.

Incurred Claim Ratio

The Incurred Claim Ratio (ICR) of ManipalCigna​ for the financial year 2018-19 was 54%. ICR in health insurance is calculated by dividing the amount of claims paid with the total amount of premiums earned in a financial year. High ICR indicates low profits whereas low ratio indicates high profits and since ManipalCigna’s ICR was only 54%, this shows that the company earned handsome profits which helped strengthen its finances. Note that Incurred Claim Ratio (ICR) changes from time to time.

Tax Benefit

The policyholders can avail tax benefits on the premium paid for ManipalCigna Health Insurance plans under Section 80D of the Income Tax Act, 1961. You can claim a maximum deduction of up to Rs. 55,000 (Rs. 25,000 for individuals and Rs. 30,000 for senior citizens) under this section.