Chola MS Individual Health Plan

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Chola MS Individual Health

	Objective			A basic health insurance policy that provides for hospitalisation expenses along with a choice to avail extra cover by paying additional premium.
Suited for			Any individual upto 55 years can buy this policy. It also covers dependent parents upto 65 years of age.
What does it do?			Besides hospitalisation expenses, it covers pre and post hospitalisation expenses and ambulance charges to carry patient to and from hospital. Some illnesses do not require an overnight stay in hospital. 141 such treatments known as day care procedures also fall under its ambit. Other supplementary benefits such as health check-up, eye examination and daily cash allowance to meet incidental expenses in case of hospitalisation are also available for an additional premium.
Pros			There are no sub-limits under hospitalisation benefit. It pays a no-claim bonus on an annual basis. It offers a protection as high as Rs 10 lakh. Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.
Cons			In event of claim, cumulative bonus will be reduced by 10 per cent during subsequent year.
Our View			Being a basic health insurance policy, it only covers hospitalisation medical expenses. Look for another policy if you want cover for risks such as personal accident, critical illness, and other treatments such as domiciliary treatment. A major drawback is that this policy can be renewed only up to 69 years of age. When policyholder outlives the maximum policy renewal term, he will have to purchase a new policy which could be a herculean task as no insurer wants to insure a high risk life.
Eligibility
Entry Age (years)
Maximum		55
Maximum Policy Renewal Age (years)		69
Coverage Type		Individual/ Dependent parents upto 65 years of age
Policy Term (years)		1
Sum Insured (Rs)
Maximum		10 lakh
Minimum		50000
No Claim Bonus		5% of Sum Insured for each claim free year upto maximum of 50%
Pre Policy Medical Check Up		Not required upto 45 years of age
Policy Termination		Insurer can terminate this policy after giving a 30 days notice. Proposer can also put off the policy by giving a 7 days notice period. If no claim has been made, insurer will return premium on a pro-rata basis
Customer Service
Address		Registered Office:Cholamandalam MS, General Insurance Company Ltd, 2nd Floor, "Dare House", No.2, NSC Bose Road, Chennai - 600001, India
Mail to		customercare@cholams.murugappa.com
Call to		044-3044 5400, 1800-200-5544 (Toll Free)
SMS		SMS "CHOLA" to 56677
Network Hospitals		Http://www.cholainsurance.com/nwhosp/

 

	Scope Of Cover
Cashless facility		available at network hospital
Reimbursement facility		available if treatment taken in an non-network hospital. Policyholder will have to bear 10% of the expenses in such a case
Pre and post hospitalisation		covered from 60 days prior to hospitalisation and upto 90 days after discharge from hospital
Inpatient hospitalisation		covered
Day Care Procedures		141 in number are covered
Emergency ambulance		covered upto Rs 2000 per insured per policy year
Additional benefits (on payment of extra premiums)
General health check up		covered as per policy conditions
Eye examination		covered as per policy conditions
Hospital daily allowance		covered ranging from Rs 75 to Rs 1000 depending on basic sum insured

 

	Exclusions and Waiting Period
Pre-existing diseases		not covered upto 48 months of continuous coverage from first policy year
No claim Period		30 days from commencement of the policy
Other exclusions		treatment of cataract, hernia, sinusitis, hydrocele etc.dental treatment, HIV/aids and related conditionsNon-allopathic treatment

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