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Benefits Of Buying TATA AIG Health Insurance Policy

Published On Mar 10, 2022 10:00 AM By InsuranceDekho

The Tata Group and the American International Group have partnered to form the Tata AIG General Insurance Co. Ltd. Individuals and organizations can choose from a variety of health insurance plans offered by the company. The organization has a network of 200 offices distributed over India. With the latest technological advancements, Tata AIG health insurance products aspire to provide excellent customer experiences.

Features Of TATA AIG Health Insurance Policy

1. Additional Benefit of Free Health Check Up

TATA AIG provides a free check-up with all of its health insurance products. These examinations are permitted up to a certain number of times per year or every 2 to 4 policy years. Individuals can get free health check-ups and maintain their health by taking advantage of free health check-ups.

2. Additional Protection Over Employer Coverage

Individuals who are already insured by their employer's group health plan can choose TATA AIG health insurance coverage. Individuals can use these health plans to supplement their existing group health insurance. Individuals can select plans based on their coverage requirements and increase their sum insured to cover all of their medical expenses.

3. Cashless Benefit

TATA AIG's network of hospitals accepts cashless claims. On the company's website, you may discover a list of networked hospitals, and if you receive treatment at one of these hospitals, you will not be responsible for any medical costs. The insurer would be in charge of handling and settling your expenses.

4. Claim Settlement Ratio

TATA AIG has a good claim settlement ratio of 94.21%  for FY 2020-21, ensuring that the majority of claims are resolved in the shortest time possible. You would simply have to notify the corporation of your claim, and it would be quickly resolved. The ratio of claims settled varies over time. 

5. Coverage Against Medical Expenses

TATA AIG's health plans provide some of the best coverage benefits. There are specific coverage benefits in addition to the fundamental coverage benefits of inpatient hospitalization, day care treatments, domiciliary treatments, ambulance expenditures, pre and post hospitalization, and so forth. Some of the company's premium plans provide coverage for bariatric treatments, maternity charges, and OPD expenses, among other things.

6. Incurred Claim Ratio

The Incurred Claim Ratio (ICR) changes year to year, and Tata AIG's ICR for the financial year 2020-21 is 96.43% . The percentage of the earned premium that the company uses to pay claims is represented by the ratio. Because the ratio is less than 100%, it indicates that the remaining premiums assisted the company in making a profit. The incurred claim ratio fluctuates over time.

7. Tax Benefit

If the premiums for health insurance policies are paid, a tax credit of up to Rs. 55,000 (Rs. 25,000 for individuals and Rs. 30,000 for senior citizens) can be claimed under Section 80D of The Income Tax Act. 

Take Away

TATA AIG Health Insurance offers a variety of health insurance policies to fulfill the needs of different people. Individual health insurance plans, family health insurance plans, senior citizen health insurance plans, COVID-19 health insurance plans, and other types of health insurance plans are all available, all of which offer a broad range of coverage as well as wellness-oriented benefits that encourage healthy living at affordable premiums. The insurer also offers a tool for determining the optimum health insurance coverage for one's needs and budget.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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