Royal Sundaram Health Insurance Benefits

Royal Sundaram offers a wide range of general insurance products, including health insurance. It provides a variety of health insurance policies to meet the needs of diverse customers. The plans come in a variety of shapes and sizes, yet they all provide comprehensive coverage at reasonable prices. The organisation has more than 5.2 million users and more than 143 locations across the country.It boasts of being the first private insurer which tied up with banks to sell insurance. Moreover, Royal Sundaram also introduced cashless claim settlements in the health insurance sector.

Additional Benefit of Free Health Check up

The health insurance plans offered by Royal Sundaram offer the benefit of free health check-ups once in 1-4 policy years. Thus, insured members can avail free preventive health checks and maintain their health.

Additional Protection over Employer Coverage

Employed people can enrol in health insurance plans sponsored by their employers. These plans, however, have a limited scope of coverage and may have a minimal sum insured. If you already have coverage through an employer-sponsored health plan, you can supplement it with any of Royal Sundaram's health insurance policies.

Cashless Benefit

Cashless hospitalisation is provided by Royal Sundaram if you take treatments at any of the 5000+ hospitals which are tied-up with the company. Through cashless claim settlements, you do not have to shoulder the burden of medical costs. Your health plan pays for the expenses directly.

Claim Settlement Ratio

Having established cashless claim settlements, Royal Sundaram aims to settle most of the claims which are presented upon it. That is why the company has a good Claim Settlement Ratio of 81.50%* which measures the number of claims which the company has settled against the total claims which were made on it. *The claim settlement ratio changes from time to time.

Coverage against Medical Expenses

Royal Sundaram’s health plans cover most of the medical expenses which are incurred in case of hospitalisation. The expenses are covered under Royal Sundaram's health insurance whether they are incurred prior to being hospitalised, after being hospitalised, or during the time of hospitalisation. Furthermore, the company's plans provide coverage for day care treatments, maternity fees, restoration of the sum insured, and domiciliary therapies, among other things.

Incurred Claim Ratio

The Incurred Claim Ratio (ICR) of Royal Sundaram for the financial year 2018-19 is 61%*. The ratio is measured as the percentage of claims paid against the total premiums collected by the company. If the ratio is below 100%, it shows that the company made a profit. Royal Sundaram’s ICR, being below 100% shows that the company earned a profit and is financially stable. *The incurred claim ratio change from time to time.

Tax Benefit

The premiums paid for Royal Sundaram health insurance plans qualify for tax deduction under Section 80D up to a limit of Rs. 55,000 (Rs. 25,000 for individual and Rs. 30,000 for senior citizens).

Royal Sundaram critical illness insurance comes with certain features. Key features of the plan are as follows:​

• P​ortability option
• Cashless treatment
• Lifelong renewability
• Hassle-free claim process
• Speedy resolution of claims​

With the critical illness coverage benefits, the Lifeline insurance policy of Royal Sundaram is a good choice if you want to buy critical illness health insurance.