National Mediclaim Policy

National Mediclaim Policy offers a wide range of benefits to the policyholder. Some of them are as discussed below:

• Reinstatement Of Basic Sum Insured: If the available sum insured is exhausted at any time during the policy period due to a hospitalization claim and if your basic sum insured is Rs. 6 lakhs and above, the plan will reinstate the basic sum insured (i.e., excluding any CB) to be used in any subsequent hospitalization. 

• Cumulative Bonus: Each insured person is qualified to receive a Cumulative Bonus (CB) at a rate of 5% of the basic sum insured for each claim-free policy period on the condition that the policy is continuously renewed with the company without a break in policy.

• Preventive Health Check-Up: At a maximum cost of 1% of the average sum insured, the plan will additionally pay for a health examination once at the conclusion of a block of four claim-free policy periods.

• Enhancement Of Basic Sum Insured: The plan offers the option to enhance the basic sum insured at the time of renewal. The coverage for enhanced basic sum insured will be available after the completion of the waiting periods. 

• Discount Benefits: A discount on the overall premium is given if the proposer/insured chooses to make an optional co-payment under the policy. The insured may choose between the following two options:

• • For 20% Co-Payment: 50% Discount
  • For 15% Co-Payment: 10% Discount

Moreover, a 10% reduction will be given on the total premium for both the first policy and any subsequent renewals if the policy is purchased online, in person, or directly from the consumer (without the use of an intermediary).

• Pre-Policy Health Check-Up: People over the age of 50 who are purchasing the National Mediclaim insurance from the company for the first time must have a pre-policy checkup. If the proposal is approved, the company will pay back 50% of the costs associated with the pre-policy examination.

• Tax Benefits: Under Section 80 D of the Income Tax Act, 1961, the proposer or insured can avail tax benefits for the premium amount paid for the plan. This enables the policyholder to save a significant amount of money, which he/she can use for other important purposes.