Star Health Insurance Vs Cholamandalam MS Health Insurance

Star Health Insurance Vs Chola MS Health Insurance

Star Health Insurance and Chola MS General Insurance (also known as Chola Insurance) offer an extensive range of health insurance solutions through diverse product portfolios. Renowned for their comprehensive plans catering to both individuals and families, both insurers boast vast networks of hospitals. Star Health encompasses over 14,000 network hospitals, while Chola MS Health Insurance extends its reach to more than 11,000 network hospitals. These insurers provide various benefits, including coverage for hospitalization, accidental care, daycare procedures, critical illnesses, and senior citizen protection. Additionally, they offer modern insurance plans with competitive premiums and substantial sums insured.

The network hospitals associated with both companies may be unexpectedly diverse. It is advisable to scrutinize each one carefully to make an informed decision. If you find yourself torn between the two options, delve into a comprehensive exploration of each plan. This entails understanding their definitions, examining features and benefits, reviewing premium illustrations, and ultimately drawing a well-informed conclusion.

Know The Differences Between Star Health Insurance and Chola MS Health Insurance

Let’s dive into the differences between Star Health Insurance and Chola MS Health Insurance.

ParametersStar Health InsuranceChola MS Health Insurance
Incurred claim ratio87.06% (2021-22) IRDAI Report117.08 (2021-22) IRDAI Report
Claim Settlement Ratio99.06% (2021-22) IRDAI Report93.23% (2021-22) IRDAI Report
Network Hospitals across India14000+11000+
No of Plans20+8+
Wellness BenefitCoveredCovered
Pre and Post HospitalisationCoveredCovered
Cashless FacilityAvailableAvailable
Number of claims settled97 Lakh + Claims settled since inception29 Lacs Claims settled
Digital Platform

For App:

“Star Health App”

Customer Support Bot

“Virtual Assistant- Twinkle”

Customer Support Bot

“Joshu”

 

For App:

Chola MS App

Tax BenefitsCoveredCovered
Pre-existing Medical ConditionsCoveredCovered

About Star Health Insurance

Star Health Insurance shields you from unforeseen medical emergencies, providing financial protection for you and your loved ones. Given the unpredictability of diseases and critical illnesses, securing a health plan with Star Health Insurance is essential for individuals of all ages. Star Health Insurance offers a variety of health plans tailored to meet the distinct needs of its customers.

The insurer is committed to addressing the requirements of every individual, whether it’s an individual, a family, or a senior citizen. This commitment is reflected in their specially crafted, client-centric health insurance plans, which come with a range of benefits and optional add-on covers.

What Salient Features and Benefits Does Star Health Insurance Offer?

Listed below are the salient features and benefits of Star Health Insurance.

  • Wide Network of Cashless Hospitals

Star Health Insurance offers an extensive network comprising over 14,000 hospitals. Within this network, policyholders have the convenience of accessing cashless treatment as part of their health insurance policy benefits.

  • In-House Claim Settlement

Star Health Insurance features an in-house claim settlement process designed to simplify and expedite the resolution of your claims, ensuring a straightforward and swift experience for policyholders.

  • Timely Settlement Of Claims

One of the major features and benefits of Star Health Insurance is that asserts an impressive track record, claiming to have settled 89.9% of received health insurance claims in less than 2 hours.

  • Wide Range Of Sum Insured Options

Health insurance plans provided by Star Health Insurance offer a diverse array of sum insured options. This flexibility empowers policyholders to select the most appropriate sum insured for themselves and their families, taking into consideration factors such as age, health history, current health status, the number of members covered under the plan, and other relevant considerations.

  • Lifetime Renewability

Health insurance plans provided by Star Health impose no restrictions, such as a maximum age limit, for renewals. Consequently, you have the flexibility to renew your Star Health Insurance plan at any point during your lifetime. This absence of age-related renewal constraints ensures continuous coverage and peace of mind throughout your life.

  • Waiting Period

Star Health Insurance Plans include a waiting period of 30 days, during which policyholders are required to wait before being eligible to avail the benefits of their health plan.

  • Pre-Existing Diseases

Regarding pre-existing diseases, individuals with certain conditions such as diabetes, tuberculosis, and others are covered under Star Health Insurance Plans, but coverage for these pre-existing conditions becomes effective after a specified waiting period. This waiting period is a predetermined duration during which the policyholder needs to wait before being entitled to coverage for pre-existing diseases.

What is Chola MS Health Insurance?

Chola MS Health Insurance provides a range of health plans endowed with attractive features and benefits, offering comprehensive health insurance coverage at affordable rates. Notable coverages include AYUSH coverage, pre-hospitalization and post-hospitalization coverage, and coverage for pre-existing diseases.

Additionally, insured members enjoy added advantages such as cashless hospitalization, responsive customer support, a grace period option, lifelong renewability, and portability. These features enhance the overall value and accessibility of the health insurance plans provided by Chola MS.

Furthermore, the insurer facilitates a seamless and hassle-free process for policyholders to purchase health insurance plans within a few minutes. Chola MS Health Insurance offers a diverse range of policies meticulously designed to afford consumers comprehensive coverage, ensuring a tailored approach to meet varied healthcare needs.

What Are The Key Features and Benefits of Chola MS Health Insurance?

The following are the major features and benefits of health insurance plans by Chola MS.

  • Customer Service 24 Hours a Day, 7 Days a Week

The insurer extends customer support services round the clock, available through phone, email, and an online chat system. For any inquiries related to your insurance, our knowledgeable and professional support staff is readily accessible, ensuring that all your questions are addressed promptly and effectively.

  • Domiciliary Hospitalisation Expenses

Domiciliary Expenses refer to costs incurred when an individual undergoes treatment at home based on their doctor’s recommendation due to their inability to travel. If the treatment duration extends for a minimum of 2 days and up to a maximum of 7 days, Chola MS Health Insurance provides coverage for these expenses, offering support for medical care received in the comfort of one’s home.

  • AYUSH Coverage Expenses

Chola MS Health Insurance covers the expenses associated with non-allopathic treatments, including Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy, in the event of illness or bodily injury requiring hospitalization for over 24 hours. The coverage for these treatments is applicable when received in a Government hospital or any institution recognized by the government and/or accredited by the Quality Council of India/National Accreditation Board on Health. This provision broadens the scope of healthcare options available to policyholders, incorporating diverse traditional and alternative forms of treatment.

  • Donor expenses

Chola MS Health Insurance not only assists in covering the medical expenses incurred by the policyholder but also extends coverage to the hospital expenses related to the organ donor’s treatment during the organ harvesting process in the case of an organ transplant.

  • Comprehensive Coverage

With a commitment to comprehensive coverage, Chola MS Health Insurance ensures that policyholders receive financial support for a wide spectrum of health conditions and illnesses. This includes coverage for serious and life-threatening diseases such as cancer, blood pressure disorders, diabetes, strokes, and various other medical conditions. This comprehensive approach underscores the insurer’s dedication to addressing diverse healthcare needs and providing financial security in challenging health situations.

  • Lifetime Renewability

When you purchase Chola MS Health Insurance as an individual policy, you have the advantage of renewing it for a lifetime. Opting for a one-time payment of the entire premium amount eliminates the need for regular renewals and grace periods, and it also makes you eligible for additional insurance discounts. Alternatively, if you choose this policy as an extension to your existing base health insurance, you have the flexibility to customize the policy duration and select the payment method that best suits your preferences and requirements.

Premium Illustration of Star Health Insurance & Chola MS Health Insurance

Mr. Jaggi Vasudev, a 40-year-old male working as a .Net developer at Tangence, found himself at a crossroads in his quest to secure health insurance. Aware of the reputable offerings from both Star Health Insurance and Chola MS Health Insurance, he decided to meticulously compare the two.

Considering the importance of aligning the chosen plan with his specific needs, Mr. Vasudev embarked on a mission to calculate the premiums for both insurance options. Armed with the parameters relevant to his age, profession, and coverage requirements, he sought to make an informed decision that would not only safeguard his health but also be a prudent investment for his future well-being.

Here is the amount of premium that Mr. Vasudev needs to pay for both health plans with the same details.

Star Health Insurance:

GenderAgePolicy TermHealth Insurance CoverPremium Amount
Male40 Years1 YearRs. 15 Lakhs

Rs. 16845

(Including Tax)

Chola MS Health Insurance:

MaleAgeAnnual Income (in Rs.)Sum InsuredPremium Amount
Male40 Years5-10 LakhsRs. 15 lakhsRs. 13,393 (incl. GST)

What to Consider: Star Health Insurance & Chola MS Health Insurance?

When choosing between Star Health Insurance and Chola MS Health Insurance, it is crucial to take into account a range of factors to ensure that the selected health insurance plan aligns effectively with your specific needs and preferences. When it comes down to choosing the best health insurance plan, ensure you choose one that caters to your requirements. If you want health insurance with greater network hospitals, a higher claim settlement process, and a number of individual/family floater plans, then Star Health Insurance is the answer to all your problems. On the flip side, if you want better customer support along with a higher incurred claim ratio, then Chola MS Health Insurance is an ideal solution.

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