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Policy Terms of Cholamandalam MS Health Insurance Plans

Published On Jun 20, 2021, Updated On Jul 02, 2021

With a wide variety of health insurance plans and policies offered by numerous companies, it has become essential for you to know the proper selection criteria to choose the best policy for you and your family based on the requirements, budget, and pre-existing illness, if any. Cholamandalam MS Health Insurance is one such company in the insurance market that provides customized and comprehensive policies with quality services. 

Cholamandalam MS Health Insurance provides a wide coverage which includes pre and post-hospitalization charges, domiciliary expenses, critical illness covers, and many more. With its network of linked hospitals, the firm means to give its policyholders access to cashless treatment facilities. It has an efficient process for a smooth claim settlement process.  

Policy Terms of Cholamandalam MS Health Insurance Plans

About Cholamandalam MS Health Insurance 

Cholamandalam MS General Insurance Company Limited is a tie-up between Murugappa Group of India and Mitsui Sumitomo Insurance Company of Japan. This company offers a range of products like motor insurance, health insurance, property insurance, and many more. Its health insurance products are known to maintain utmost transparency and deliver the best customer experience. The company has also managed to bag several awards at various functions. Some of the key features of Cholamandalam MS Health Insurance include: 

  • The company has a network of around 8,000+ linked hospitals for cashless treatment facilities. 
  • It offers the lifelong renewability of policies to its policyholders with no age limit restrictions. 
  • The claim settlement ratio of the company was 56.25% in FY 2019-20
  • The firm offers 24X7 call assistance for emergencies. 
  • It holds no TPA tie-ups which makes the whole claim settlement process quick and hassle-free. 
  • The company has earned the values and reliability of the customers and has bagged several prestigious awards for its work in the field. 
  • There is an option of portability available. In case you are not satisfied with the services of your insurer, you can directly switch to Cholamandalam MS Health Insurance. 
  • Cholamandalam MS Health Insurance provides free healthcare check-ups after 3 claim-free years to its policyholders. 

Cholamandalam MS Health Insurance Policy Terms 

There are certain policy terms on the features provided by Cholamandalam MS Health Insurance. Following are the standard conditions of these policy terms, which can differ from one policy to the other: 

1. Maximum Age Limit

There are no maximum age limit restrictions on the policies that you purchase from Cholamandalam MS Health Insurance. 

2. Minimum Age of Entry

To purchase a Cholamandalam MS Health Insurance policy, the applicant must be a minimum of 91 days in age. 

3. Co-Payment

10% co-payment is available on the claims for insured individuals of age 55 years or more. Co-Payment is a cost-sharing payment that the applicant must bear to a certain percentage on the admissible claim amount under specific conditions. 

4. Waiting Period

3 years of consecutive coverage is required for pre-existing illness. However, 30 days waiting period is applicable on any kind of treatment other than pre-existing diseases. There is also an exception for injuries due to medical emergencies or accidents. 

5. Renewal of Policy

To continue to avail the services and benefits provided by Cholamandalam MS Health Insurance, it offers a facility of lifelong renewability of policies to its policyholders. In this service, there is no maximum age limit restriction and it helps the customers to stay associated with the company forever. 

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Cholamandalam MS Health Insurance, with its 87 branches across the country, continues to help its customers in providing them with a shield of health insurance policy against the medical expenses which are increasing every day due to the rise in inflation. Also, not having a health insurance policy can result in draining your financial savings, which can lead you to a stressful situation, therefore, purchase a good health insurance policy with Cholamandalam MS Health Insurance on time.   

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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