Bajaj Allianz Life Insurance has launched the first Health+Life cover plan in India, with guaranteed renewals up to the age of 65 without any medical examination.
This makes the policy the first of its kind long-term medical policy, and offers access to hospitals across 200 towns in India.
Announcing the launch of the policy, Sam Ghosh, country manager, Allianz and CEO Bajaj Allianz Life, said, "With the new and unique cashless Bajaj Allianz Care First plan, the common man would also be able to get the finest medical care in case of emergencies and hospitalisation without the worry of arranging for paying high bills. We are the only company to offer a long-term medical policy with guaranteed renewal up to age 65 without medicals, making Bajaj Allianz Care First, the finest medical policy."
Some of the key features of Health+Life cover:
- Health+Life provides a common sum assured, giving a dual benefit, which can be utilised in case of a hospitalisation as well as a life cover benefit on the death of the policy holder.
- In association with Medicare TPA services, the policy comes with photo identity cards to facilitate cashless hospitalisation at 2000 empanelled hospitals in 200 cities. The company says that in the event of treatment undertaken in hospitals other then empanelled hospitals, it provides a speedy claims settlement within seven days from the date of complete documentation being submitted.
- Guaranteed renewals up to age 65 without medicals. Anyone between 18 to 56 years is eligible to take this policy with automatic continuiation of the policy up to the age of 65 years without fresh medicals, provided the premium is paid at the time of renewals without lapse.
- Sum assured cover is available from Rs 1 lakh to Rs 7 lakh. Apart from medical covers, a 'life cover' benefit is also paid in the event of the death of the policy holder.
- The long-term health care plan comes with an assurance of 3 years premium remaining constant during the policy term.
- In case of surgical procedures such as eye surgery, cataract, hernia repair surgery etc, not requiring hospitalisation for even 24 continuous hours, it will be considered as proper hospitalisation and the medical expense will be reimbursed.
- Expenses associated with both pre- and post-hospitalisation treatment are covered under this plan.
All treatment pertaining to critical illnesses are covered under this plan which also provides for life cover.