Religare Care health insurance policy

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This is a good plan for those looking for high sum insured and cover without any caps or sub-limits

PRODUCT FEATURES: Religare Health Insurance's Care is a hospitalisation-based health insurance plan.

The plan, with no maximum age limit, can be taken for individuals above the age of five years. A policyholder can renew the plan as long as he or she lives. If above 61 years, then a policyholder will have to pay 20 per cent of the total claim amount. Non-allopathic treatments will not be covered under the plan. The insurer offers free health check-ups during every policy year and the value of tests varies depending on the sum insured. For those, who have chosen high sum insured of Rs 50 lakh or Rs 60 lakh, the insurer offers to get the treatment in foreign countries, although, the cost of transportation will not be covered.

COVERAGE: The option of sum insured ranges between Rs 2 lakh and Rs 60 lakh. Like most plans available in the market, this plan covers healthcare expenses incurred during 30 days before hospitalisation and 60 days after hospitalisation. The insurer would ask a policyholder to undergo certain med ical tests if the sum insured or age is high. Sum insured is automatically reinstated in case a policyholder has exhausted it filing a claim. In case, no claims are made during the policy tenure, the insurer would increase sum insured by 10 per cent in the next policy term. Depending on the chosen sum insured, policyholders are also entitled to get daily allowance for non-medical expenses.

PREMIUM: For a Rs 5 lakh health cover for a family of two adults, with eldest member of 35 years of age, the premium comes to Rs 7,789. While for a Rs 5-lakh health cover for a family of two adults, with eldest member of 65-years of age, the premium comes to Rs 28,947. The annual premium for a family of two adults with eldest member of 35-years of age and sum insured of Rs 50 lakh comes to Rs 26,066. For a sum insured of Rs 50 lakh for a family of two adults, with eldest member of 65 years of age, the premium comes to Rs 2,58,360.

Annual premium rates are similar to other such plans available in the market. This is a good health insurance plan for those looking for high sum insured and cover without any caps or sub-limits.

However, there is a cap on room rent charges for lower sum insured of up to Rs 4 lakh. Complementary annual health check-ups are available in all policies, which can lower the chances of any major ailments cropping up at a later stage. Since Religare Health Insurance is a late entrant in the health segment, claim settlement ratio is still not known.

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