Care Mediclaim insurance - Key highlights
Care Health is one of the leading standalone health insurance companies in India, they are also one of the fastest growing. • Care offers a Wide Range Of Health Insurance Products From Individual Plans to Family Floater Schemes To Senior Citizen Health Coverage. They are also prompt at claims settlement with a 93% claims settlement over the past year.
Care has an extensive network of 7400+ network hospitals across India and this number has been growing steadily over the years. Hence it is important while seeking treatment following a sickness or an accident to ideally get admitted to a network hospital. One can get the hospital closest to them by going through the Care network hospital list available on Care health insurance.
Yes, Care Health offers Cashless treatment for inpatient hospitalisation of the insured. The important criteria to avail of the cashless facility is to seek admission into one of Care’s network hospitals across the country. Subject to the claim being admissible under the policy, Care will offer cashless settlement upto the policy limits of the insured’s policy.
Care Health offers a free look period to review it’s policy terms and conditions. In case one is not satisfied with the same, one can request for cancellation of their policy during this period. The insured will be charged the pro-rated premium for the period during which your policy was in-force, the cost of pre-policy health check-up, if any, and the stamp duty. The balance premium would be refunded.
Also, one can request for cancellation of your policy at any time during the policy period post the free look period. In this case, the refund of the premium amount is as per the short scale grid, which is shared as part of the Policy Terms and Conditions sent as part of the policy kit. However, in case you of any claim being reported with Care, the insured will not be entitled to any refund of premium on cancellation of the policy.
Yes, Maternity is an inbuilt coverage for all plans where the primary sum insured is ₹50, 60 and 70 lacs. For the remaining plans the Maternity coverage can be opted for by the insured.
Under their most comprehensive “Care Plan”, the sum insured options range from ₹4 lacs to ₹600 lacs (6 crs)
This concept works on the same lines as the no-claim bonus on car insurance. A Policyholder, who hasn’t made any claim in a year, can use the bonus to their benefit the following year.
Similarly, CARE offers a 10% increase in the policy sum insured for every claim-free year, with no change in premium. So, a policy with a sum insured of Rs 5 lakh, will get an extended cover of Rs 50,000 the following year at the same premium. A claim-free third year will see him earning another ten per cent extra cover on his base sum insured, taking the total to Rs 6 lakh. A maximum bonus of up to 50 per cent is permissible. For 5 consecutive claim free years by using No Claims Bonus (NCB) & No Claims Bonus – Super (Optional Cover). Incremental increase every year is applicable on base Sum Insured. If a claim is made in any particular year, accrued NCB and NCB-Super will be reduced at the same rate at which it is accrued.
In case of claim, the accumulated bonus is reduced by 10%.
Under the Care Personal Accident policy, the sum insured ranges from ₹10 lacs to ₹50 lacs.
Care Health Insurance (RHI), the health insurance arm of Care Enterprises Limited (REL), is a specialized Health Insurer offering health insurance services to employees of corporates, individual customers and for financial inclusion as well. Launched in July’12, Care Health Insurance is promoted by Care Enterprises Limited, a leading diversified financial services group based out of India; its other shareholders are Union Bank of India & Corporation Bank. The promoters are also the founders of Fortis hospitals, SRL Diagnostics and Care Wellness – India’s leading wellness and pharmacy retailers.
There is no upper limit on the number of claims during the policy period. However, the total cumulative claim amount cannot exceed the Policy Sum Insured.
As on date Care Health have settled 4.7 lacs + health claims
Care Health takes 15 days after receiving the required documents from the insured to process a health insurance claim. However, it can take a longer time depending on the verification process conducted by our claim management team depending on the case.
In a cashless claim/hospitalisation, the insured/hospital intimates us regarding the hospitalization and submits a pre-authorization request. On authorization, the claim is directly settled with the network hospital and the insured is not required to pay any charges except for expenses not covered under the policy. Cashless facility can only be availed at a Care Health Insurance network hospital.
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