Bajaj Allianz Health Guard Vs. Tata AIG Medicare

Bajaj Allianz Health Guard Vs. Tata AIG Medicare

The number of health challenges is constantly rising in the era we live in. A serious medical emergency can leave a person with a huge financial hole and, most likely, costs more than their savings. The value of health insurance is now indisputable in such a circumstance.

Both Tata AIG and Bajaj Allianz offer a wide range of insurance options and a sizable product line. Both companies are well known for their all-inclusive plans, namely Bajaj Allianz Health Guard and Tata AIG Medicare Insurance Policy, which cover individuals as well as their families.

Hospitalization, accident care, daycare procedures, critical illness, senior citizen coverage, low premiums, and high-sum insured new-age insurance plans are among the benefits offered by these two plans.

Continue reading to understand the features and benefits, differences, and premium illustrations of these two plans in detail.

What is the Bajaj Allianz Health Guard Insurance Policy?

Bajaj Allianz’s Health Guard policy is designed to suit all your healthcare needs. It covers the costs of medical care incurred while a patient is hospitalised due to a serious illness or accident. This insurance is affordable and offers a wide range of benefits that can meet your needs. The plan even covers your medical treatment costs incurred while you were hospitalised due to a serious illness or accident.

The major highlight of the Health Guard policy by Bajaj Allianz is that it has three variants: Silver, Gold, and Platinum Variant, allowing you to reap the benefits as per your health requirements. The policy is available for purchase by anyone as an individual or family floater.

What is TATA AIG Medicare Insurance Policy?

The cost-effective Tata AIG Medicare Insurance Policy provides you with all the benefits you need to handle any medical emergencies that may arise. A simple yet comprehensive health insurance policy is Tata AIG Medicare which was created with an understanding of the crucial role that health insurance plays in light of the high cost of unexpected medical expenses.

TATA AIG Medicare Policy offers benefits such as global cover and cover for bariatric surgery as well. You can choose the amount insured based on your requirements. The major highlight of the TATA AIG Medicare insurance policy is that it comes with a Teleconsultation Service and ambulance Booking Facility.

Important Features and Benefits of Bajaj Allianz Health Guard

Here is the list of the important features and benefits of choosing the Health Guard Insurance Policy by Bajaj Allianz.

  • In-patient Hospitalization Treatment

The Bajaj Allianz Health Guard plan will pay You for Reasonable and Customary Medical Expenses incurred, subject to the following: i. Room rent and Boarding expenses as provided by the Hospital/Nursing Home, if You are hospitalised on the recommendation of a Medical practitioner as defined under the policy due to Illness or Accidental Bodily Injury sustained or contracted during the Policy Period.

  • Pre-Hospitalization

Under the Health Guard Policy by Bajaj Allianz, the medical expenses incurred in the 60 days before your hospitalisation, provided that: These expenses were made in connection with the same illness or injury that ultimately necessitated hospitalisation.

  • Post-Hospitalization

The Medical Expenses incurred in the first 90 days following your discharge from the hospital, as long as they are related to the same illness or injury that required your hospitalisation earlier.

  • Road Ambulance

When you are transferred to the closest hospital with adequate emergency facilities for the provision of health services after an emergency, the policy will pay the reasonable cost, up to a maximum of Rs. 20,000/- per policy year, incurred on an ambulance offered by a healthcare or ambulance service provider.

  • Day Care Procedures

Another key feature is that the policy will cover Your medical expenses for daycare procedures or surgeries that you undergo while an inpatient in a hospital or daycare facility rather than an outpatient department, as listed above under In-patient Hospitalisation Treatment.

  • Convalescence Benefit

If the insured person is hospitalised for a condition that lasts longer than 10 days, the policy will pay benefits in accordance with the selected plan, subject to the following restrictions.

  • Daily Cash Benefit for Accompanying an Insured Child

If the hospitalisation claim is paid under Inpatient Hospitalisation Treatment, the policy will pay a Daily Cash Benefit of Rs. 500 per day maximum of up to 10 days during each Policy Year for reasonable lodging expenses for one parent or legal guardian to stay with any minor insured (under the age of 12).

  • Hospitalisation Costs: Ayurvedic/Homeopathic

The company will cover your in-patient treatment expenses for Ayurvedic and Homoeopathic treatment if you are hospitalised for at least 24 hours in an Ayurvedic or Homoeopathic Hospital on the advice of a medical professional due to illness or accidental bodily injury sustained or contracted during the policy period.

Salient Features and Benefits of Tata AIG Medicare

Listed below are some of the top features and benefits of considering the Medicare Insurance Policy by Tata AIG.

  • In-Patient Treatment

The policy pays hospitalisation costs for conditions that require an insured person to be admitted to a hospital as an inpatient during the policy period. Payable medical costs would be those directly associated with the hospital stay.

  • Vaccination Cover

Another major feature and benefit of Tata AIG Medicare Insurance Policy include coverage for costs associated with the Human PapillomaVirus (HPV) vaccine, the Hepatitis B vaccine, and the Typhoid vaccine without any waiting periods after two years of continuous coverage.

  • Compassionate Travel

The policy covers costs up to Rs. 20,000 associated with a round-trip economy-class airline ticket or first-class train ticket to enable the insured person’s immediate family member to be by his bedside during his hospital stay.

  • Restore Benefits

Upon exhaustion of the Sum Insured and accrued Cumulative Bonus during the policy period, the Company will automatically restore the Basic Sum Insured.

  • Consumables Benefit

The policy covers costs for certain consumables used during hospitalisation that are directly connected to the insured person’s medical or surgical treatment for illness, disease, or injury.

  • Global Cover

The policy covers medical costs related to an insured person’s inpatient and daycare hospitalisation that occurs outside of India, provided that the diagnosis was made there and the insured person travels outside of India for treatment.

  • Cumulative bonus

Every claim-free policy year will result in a 50% cumulative bonus being applied to the Sum Insured for the following policy year, provided that the policy is renewed with us and without a break. In no Policy Year shall the Total Cumulative Bonus exceed 100% of the Sum Insured.

  • Tax Benefits

You are eligible for up to INR 25,000 in benefits each year if you have purchased a Tata AIG Medicare insurance plan for you, your spouse, or your children. You may deduct an additional INR 50,000 per year if you have purchased the policy for your parents who are over 60.

What Distinguishes Tata AIG Medicare from Bajaj Allianz Health Guard?

Though both insurance policies cater to an individual’s health, they are somewhat different. To understand them in detail, let’s discuss the major differences between the two.

ParametersBajaj Allianz Health GuardTata AIG Medicare
AgeThe minimum entry age to buy the Health Guard Insurance policy from Bajaj Allianz is 3 months- 30 Years (Dependent Children/Grandchildren)The minimum entry age to buy the Tata Medicare policy is 91 days.
Members CoveredSome of the members covered are Proposer /Spouse /Parents/Sister/ Brother/Parents-in-law/ Aunt/ UncleCovers up to 7 members (Self, Spouse, up to 3 dependent children, and up to 2 parents/parents-in-law)
Health Checkup

Silver Plan 1% of the Sum Insured maximum up to Rs. 2000/- for each Insured in Individual Policy during the block of 3 years.

• Gold Plan 1% of the Sum Insured max up to Rs. 5000/- for each Insured in Individual Policy during the block of 3 years.

• Platinum Plan 1% of the Sum Insured max up to Rs. 5000/- for each Insured in Individual Policy during the block of 2 years

The plan will cover expenses for a Preventive Health Check-up up to 1% of the previous sum insured subject to a maximum of Rs. 10,000/- per policy
Road AmbulanceA healthcare provider or ambulance service provider will offer to transport you in an ambulance at a reasonable cost, up to a maximum of Rs. 20,000 per policy year, to the closest hospital with sufficient emergency facilities.Ambulance Booking facility through the empanelled Service Provider that will provide a facility to book a road ambulance in India. There is no maximum coverage mentioned under the policy schedule.
Daily Cash Benefit for Accompanying an Insured ChildIf the hospitalisation claim is paid under Inpatient Hospitalisation Treatment, the plan will pay a Daily Cash Benefit of Rs. 500 per day up to a maximum of 10 days during each Policy Year for reasonable lodging expenses for one parent or legal guardian to stay with any minor insured (under the age of 12).If the Insured Person Hospitalised is a child aged 12 years or younger, the plan will pay a fixed amount per day, as noted in the schedule, for one accompanying adult for each full 24-hour period. The maximum daily benefit payable would be Rs. 2000, or 0.25% of the base sum insured.
Vaccination coverThough the policy covers vaccination, there is no specific limit mentioned.

The plan Covers expenses related to the Human papillomavirus (HPV) vaccine & Hepatitis B Vaccine after 2 years of continuous coverage and the Anti-rabies vaccine and typhoid vaccination without any waiting period.

The maximum payable is actuals or Rs. 5,000/- per policy, whichever is lower

Long-Term Discount

The discount is as follows:

  • A 4 % discount is applicable if the Policy is opted for 2 years.
  • An 8 % discount is applicable if the Policy opts for 3 years.
On the other hand, Tata AIG Medicare insurance policy offers a Long-term premium discount of 5%, and 10% is applicable for policies with a tenure of 2 and 3 years respectively.

How Do Both Bajaj Allianz Health Guard and Tata AIG Medicare Work?

Let’s take an example to understand!

Mr. Tony Lala wants to purchase a plan that will shield him from medical conditions. He has become more wary and wants a plan to safeguard himself and save money in case of such an accident since his father passed away from health problems. After receiving numerous recommendations and doing extensive research, he came across two plans: Tata AIG Medicare Insurance policy and Bajaj Allianz Health Guard Insurance Policy. He and his family are currently residing in the New Delhi region. Here is an example of the premiums for both plans based on his age, needs, and policy coverage.

Bajaj Allianz Health Guard Insurance Policy:

AgeGenderPolicy tenureSum InsuredPremium Amount
40 YearsMale1 YearRs. 3,00,000Rs. 9, 150

Tata AIG Medicare Insurance Policy:

AgeGenderPolicy TenureSum InsuredPremium Amount
40 YearsMale1 YearRs. 10 lacsRs. 16, 374

Bajaj Allianz Health Guard and Tata AIG Medicare Policy: Which is the Ideal Plan to Choose?

Both Bajaj Allianz and Tata AIG provide individuals and families with a selection of medical insurance plans, namely the Health-Guard Insurance Policy by Bajaj Allianz and the Medicare Policy by Tata AIG. They offer coverage for things like ambulance costs, COVID-19, critical illnesses, daycare procedures, and hospitalisation. These two plans, however, have distinctive qualities that allow them to meet the various needs of policyholders, as can be seen from the aforementioned distinctions.

Talking about the differences, if you want to get a higher sum insured and better discounts, then consider the Bajaj Allianz Health Guard Insurance Policy. Furthermore, the major highlight of the h Bajaj Allianz Health Guard Insurance Policy is its long-term discount. On the other hand, if you want to buy a policy with an enhanced medical check-up facility and Daily Cash Benefit for Accompanying an Insured Child, then consider the Tata AIG Medicare Insurance policy.

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