Medical emergencies do not announce themselves before showing up. Keeping in mind the emergency and costly nature of medical services, many insurance companies have come up with different customer-friendly health insurance products. Among them, Tata AIG MediCare and Reliance HealthGain are worth mentioning. With Tata AIG’s Medicare health insurance policy, one does not have to worry about the high medical costs associated with getting quality treatment. It also covers COVID-19 expenses. On the other hand, with the boost of 3 power-packed plans (Plus, Power, and Prime) under Reliance HealthGain, one gets the flexibility to pick and choose any benefits at any sum insured. To find out more about these plans and their differences, have a look at the below mentions.
What is Tata AIG's MediCare Policy?
This pocket-friendly policy offers all the benefits that one needs to deal with medical emergencies that come his/her way. TATA AIG MediCare offers benefits such as global cover and cover for bariatric surgery as well. Depending on the needs, one can select the sum insured. The company offers amounts as low as INR 3 lakhs and as high as INR 20 lakhs under the TATA AIG Medicare health insurance plan. TATA AIG MediCare comes with a Teleconsultation Service and ambulance Booking Facility. This policy is exempt from taxes under Section 80D of the Income Tax Act.
This policy provides a vast range of sum insured options, starting from Rs. 3 lakhs to Rs. 1 crore. Along with all the basic cover of a standard health insurance policy, this plan has come up with more than 10 add-on covers that can be purchased at a minimal cost to enhance the strength of the policy. Anyone between 18 years to 65 years can opt for this policy. Even the dependent children from 91 days to 25 years can be covered under this policy. This policy offers both reimbursement and cashless claims for the better convenience of the customers.
Key Features of Tata AIG MediCare policy
This policy has come up with a sack full of benefits and facilities. A few important mentions are as follows.
Domiciliary Treatment – The policy will cover expenses related to the Domiciliary Hospitalization of the insured person if the treatment exceeds three days. The treatment must be for the management of an illness and not for enteral feedings or end-of-life care.
Compassionate travel – In the event the Insured Person is Hospitalized for more than Five consecutive days in a place where no adult member of his immediate family is present, the company will cover expenses related to a round trip economy class air ticket, or first-class railway ticket, to allow the Immediate Family Member to be at his bedside for the duration of his stay in the hospital. The expenses must be incurred within India and shall not exceed Rs. 20,000 during a policy year.
Global Cover – The policy will cover for Medical Expenses of the Insured Person incurred outside India, up to the sum insured, provided that the diagnosis was made in India and the insured travels abroad for treatment. The Medical Expenses payable shall be limited to Inpatient and daycare Hospitalization only on a reimbursement basis.
Second Opinion – It will provide You with a second opinion from a Network Provider or Medical Practitioner if an Insured Person is diagnosed with the below-mentioned Illnesses during the Policy Period. The expert opinion would be directly sent to the Insured Person.
- Kidney Failure
- Myocardial Infarction
- Coronary bypass surgery
- Stroke/Cerebral hemorrhage
- Organ failure requiring transplant
- Heart Valve replacement
- Brain tumors
Accidental Death Benefit (Optional Cover) – If an Insured Person suffers an accident during the policy period and this is the sole and direct cause of his death within 365 days from the date of the accident, then the policy will pay a fixed amount of 100% of the base Sum Insured. This benefit is not applicable to dependent children covered in the policy.
In-Patient Treatment – Dental – The company will cover medical expenses incurred towards hospitalization for dental treatment under anaesthesia necessitated due to an accident/injury/illness.
Day Care Procedures – The policy will cover expenses for listed Day Care Treatment due to disease/illness/Injury during the policy period taken at a hospital or a Day Care Centre.
Major Benefits of Reliance HealthGain policy
The important mentions are as follows:
Modern treatment – One can increase coverage for modern treatment methods up to 100% of the sum insured.
Removal of Co-payment – If an insured person buys his first policy at the of age 61 or above, the co-payment can be removed by opting for this cover.
Home Care Treatment – Medical expenses related to listed home treatments are covered.
Companion Cover – A fixed daily amount is paid to the one who accompanies the insured person while he/she is getting treated in a hospital.
Child Care Cover – The company pays for the insured person’s children’s expenses in case he/she is hospitalized and cannot take care of them at home.
Change in Pre-Post Hospitalisation limit – One can increase pre & post-hospitalisation limits to 90 days pre- and 180 post-hospitalizations.
Convalescence Cover – The policy pays an additional lumpsum amount on hospitalization for a minimum period of 7 continuous and consecutive days.
Vision Correction – Indemnifies are provided to the insured person for the medical expenses incurred towards the correction of eyesight due to refractive error.
Comparative Study Between Tata AIG MediCare and Reliance HealthGain Policies
The following table gives an idea about both the policies and their differences.
|Parameters||Tata AIG MediCare Policy||Reliance HealthGain Policy|
|Restore benefit||The company will automatically restore the Basic Sum Insured upon exhaustion of the Sum Insured and accrued Cumulative Bonus, during the policy period. This benefit can be availed once during the policy period subject to the terms and conditions.||On subsequent claims, unlimited reinstatement of base sum insured on unrelated illness or injury, sub-limit of 100% of base sum insured for related illness/injury is available.|
|Ambulance cover||The company will cover expenses incurred on transportation of the Insured Person in a registered ambulance to a hospital for admission in case of an Emergency or from one hospital to another hospital for better medical facilities and treatment, subject to Rs. 3000 per Hospitalization.||For the emergency transportation of the insured person ambulance cover is offered within the sum insured, up to Rs. 20,000.|
|Cumulative bonus||A 50% cumulative bonus will be applied on the Sum Insured for the next policy the year under the Policy after every Claim free Policy Year, provided that the Policy is renewed with the company and without a break. The maximum cumulative bonus shall not exceed 100% of the Sum Insured in any Policy Year.||One receives a cumulative bonus of up to 33.33% of the base sum insured for every claim-free year.|
The company will cover expenses related to the cost of the following vaccines only:
|Whether it is Typhoid, Hepatitis, or Anti-Rabies vaccine, the company will pay for it up to a sum defined in the optional cover.|
|Consumables cover||The company will pay for expenses incurred, for specified consumables.||The policy pays for miscellaneous expenses like syringes, gloves, etc. up to Sum Insured opted, which are usually non-payable.|
|Health check-up||The company 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. The limit is the maximum per policy and more than one insured can utilize the amount.||Preventive health check-ups can be availed of up to Rs. 3000 per policy at the end of each policy year. h|
|Hospital daily cash|
The benefit payable per day would be 0.25% of the base sum insured and a maximum of Rs. 2000 per day. This benefit is applicable only to those cases where
shared accommodation category is not
opted by the policyholder in the policy.
|Daily Cash options: Rs. 1,000, Rs. 1,500, Rs. 2,000, Rs. 2500 max up to 30 days for In-Patient Hospitalisation and 15 days for ICU Hospitalisation. Minimum Hospitalisation of 72 hours is required.|
Tata AIG MediCare and Reliance HealthGain, which one should you opt for?
Both plans are designed to cater to the needs of the individuals so that the customers can keep their families healthy and financially protected. Additionally, the optional benefits and add-ons have made the plans stronger. However, though both the plans are health insurance plans and have been crafted keeping in mind the same purpose, but inherently they are not identical, rather way different from each other. While the Tata AIG MediCare plan has presented AYUSH treatment and Home Healthcare Benefits, on the other side, the Reliance HealthGain has reward benefits. Both plans are potent and strong enough to serve the needs of the individuals on the basis of their requirements. One needs to choose any of these plans, only keeping in kind the necessities of him/her. Therefore, it would be an injustice to identify one plan as the best because it would be decided by the customer which one will satisfy his/her needs.
Tata AIG Medicare Insurance Policy:
|Age||Gender||Policy Tenure||Sum Insured||Premium Amount|
|40 Years||Male||1 Year||Rs. 10 lacs||Rs. 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.