 Broadly insurance can be classified in two categories: First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types: Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans. Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan . |
| Coverage | ICICI- LOMBARD | Bajaj-Allianz | Royal Sundaram | Reliance General Insurance | Star Health | Cholamandalam |
| Family Floater | Star Package | Health shield | Health Wise policy | Family Health Optima | Chola Family Insurance Plan | |
| Pre & Post Hospitalization Expenses | 30 days prior and 60 days after hospitalisation | 60 days prior and 90 days after hopitalization |
30 days prior and 60 days after hospitalization. | Reliance Standard: 30 days prior and 60 days after hospitalization, Reliance Silver: 60 days prior and 90 days after hospitalisation |
30 days prior and 7% of the hospitalisation expenses in Post hospitalization, max up to Rs. 5000 | 60 days prior and 90 days after hospitalization |
| Room & Boarding Expenses | Covered No limit | Covered, No Limit | Reimbursment up to 1.5% | Covered | It ranges from Rs. 500-Rs. 1500 depending on the city | Rs. 1500-Rs. 3000 |
| Pre-existing diseases | Covered after 4th year | Covered after 4th year | Covered after 4th year | Reliance Silver - Covered after 2nd year Reliance Standard- Covered after 4th year |
Covered | - |
| Eligibility | Senior most family member: 19 - 60 years (Renewable till of 70 years) Others members: less than 19 years |
18 yrs - 55 yrs (Renewable till of 70 years) Children 3 yrs - 5 yrs if both the parents are insured, 6yrs - 18 yrs if one parent is insured. |
Self, Spouse and dependant parents up to the age of 50 years and dep children(91 days- 18 yrs) | 3months - 65 years. | 5 months - 60 years | up to 55 yrs for proposer and 65 for parents |
| Cashless Facility | over 4500 network hospitals in India | over 2400 hospitals in India |
over 2000 hospitals in India | Over 4,300 hospitals in India. | - | over 1300 hospitals in India |
| Bonus | No | 5% | Limit shall be increased by 5% every year, max up to 10 years |
5% on every claim renewal max up to 50% | No | - |
| Family Discount | 5% discount on premium for every claim free year | 10-15% long term discount, if policy is taken for 2 or more years | 10% for covering 3 or more family members |
Reliance Silver: up to Rs 750 Reliance Standard: up to Rs 500 |
10% discount on Premium on the renewal of the policy in the claim free year |
5% for 2 People, 10% for 3 or more peopple |
| Ambulance Charges | - | covered emergency charges (upto Rs 1000) |
Ambulance referral facilities |
covered from Rs 500 to Rs1000 | 750, max up to 1500 | coverage for expenses incurred on it to nearest hospital up to Rs 1000/- |
| Health Check-up | Above 55 years | Above 45 years | Above 50 yrs | Above 45 yrs | Above 60 yrs | - |
| Cost of Health Check up | Free health check-up coupon for any one insured family member. | yes,reimburse max up to Rs 1000/- after 4 claim free years | yes, reimburse max up to Rs 750/- after 5 claim free years | free Check up after 4 claim-free renewals. | - | reimburse the exp incurred for general health and eye exam |
| Sum-Assured | 1 lakh to 4 lakhs | 0.5 lakhs to 10 lakhs | 1.5 lakhs to 5 lakhs | 2 lakhs to 5 lakhs | 1 lakh to 5 Lakhs | 2 lakhs to 10 lakhs |
