This policy will cover hospitalisation expenses for certain ailments incurred globally
Public sector general insurer New India Assurance Company on Tuesday launched a global mediclaim policy that will offer lifelong cover for global hospitalisation expenses including cancer, neurosurgery, heart surgery, organ transplant and bone marrow transplant in hospitals outside India.
The plan offers hospitalisation coverage in Asian countries as well as other parts of the globe. The Asian countries medical coverage plan offers a lifetime cover of USD 1 million and the worldwide lifetime coverage insures an individual for USD 2 million. The policy covers an entire gamut of services like medical second opinion for the covered illness of the insured to the expenses like travel, accommodation and treatment in a foreign land.
G Srinivasan, Chairman and Managing Director, New India Assurance said, "The global mediclaim policy has been designed to ensure that Indians will now get a choice to pursue the best medical treatment available anywhere in the world with a comprehensive insurance cover from an Indian insurer."
The entry age of Global Mediclaim Policy is between 18-65 years and will be issued only to Indian citizens residing in India. The product is available to any person who already has a health insurance policy with sum insured of Rs 8 lakhs and above. Global medical centers like Cedar-Sinai Medical Center, John Hopkins Medical Center and Kings College Hospital are among the 99 top notch hospitals worldwide who are a part of New India’s empanelled hospitals.
Depending on the age of the insured and their medical history, the premium could also be loaded between 25 percent to 100 percent. For a 30-year-old individual, the premium without loading is Rs 9,003 per annum for Asian countries) and Rs 11,453 per annum for other countries outside Asia.
While pre-existing conditions are not covered, there is a 90-day waiting period only after which will a claim be paid. Also, any medical expenses like chemotherapy incurred in India will not be payable under this policy.
The policy will also pay airport pick-ups as well as repatriation of mortal remains of the insured up to USD 15,000 per insured. This is a fully cashless policy and a second medical opinion will be taken before an insured is given a policy to avail of treatment abroad.
New India Assurance has the largest health insurance business in the country. The insurer wrote health premiums of Rs 5,840.06 crore out of theRs 30,235.31 crore written by the general insurance sector.
