With individuals traveling frequently or working across national boundaries, the need for an effective health insurance solution for local and global health care has become imperative. In a bid to provide health insurance coverage across the world, Bajaj Allianz General Insurance today announced the launch of its distinctive health insurance product ‘Global Health Care’. Bajaj Allianz Global Health Care is a comprehensive health insurance product that provides seamless cover to the policyholder for planned as well as emergency treatment availed from health care providers Internationally (outside of India) and domestically (within India).
According to the company, the USP of the product is that it allows insured members to plan any treatment abroad or in India worry-free, thus availing the best medical facilities anywhere across the globe. Bajaj Allianz General Insurance has collaborated with Allianz Partners to provide a seamless claims experience to their policyholders through the company’s unique and extensive global health care provider network and quality claim settling capabilities.
Global Health Care product offers one of the widest Sum Insured ranges available in the Indian market, which starts from Rs 37,50,000 to Rs 3,75,00,000 (USD 100,000 to USD 1,000,000). The product is available with two plans, namely ‘Imperial Plan’ and ‘Imperial Plus Plan’, which offer both International and Domestic Covers. From the product point of view, the primary differentiator between these plans is that the Imperial Plus Plan is a high-end variant with higher sum insured (SI) options offered along with enhanced features. The domestic cover for ‘Imperial Plan’ and ‘Imperial Plus Plan’ provides In-Patient Hospitalization treatment, Pre and Post-Hospitalization Expenses with benefits like Ambulance (Air and Road), Day Care Procedures, Living Donor Medical Costs, Modern Treatment Methods & Technological Advancement, Mental Illness treatment and Rehabilitation amongst others. A supplementary feature of the domestic cover is that it also provides Ayurvedic/Homeopathic Hospitalization as a special feature. Further, during a treatment domestically, the patient can choose to opt to transfer to the best international facilities available for his/her ailment.
The international cover additionally provides benefits like Dental Cover (optional), inbuilt OPD cover, and other enhanced features like In-Patient Cash Benefit, Palliative Care, Medical Repatriation,
Repatriation of mortal remains, accommodation costs for one parent staying with an insured child, Air Ambulance and Medical Evacuation, and emergency treatment outside area of cover amongst others. The international cover also offers a voluntary deductible of Nil/USD 500/USD 1000 on an aggregate basis which reduces the premium payable. These covers also provide an in-built annual preventive health check-up during each renewal cycle.
It, however, may be noted that the product caters to Indians residing in India only and hence is not available for NRIs. However, the product can be offered to OCIs (Overseas Citizen of India) subject to their stay in India for a minimum period of 180 days.
Table of Benefits
Commenting on the product launch, Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, said, “We firmly believe that best in class medical care can increase life expectancy and improve quality of life. Many of us want to look at international treatment options for our loved ones and ourselves but we seldom opt for it considering the massive expenses foreseen, and it can potentially diminish the life savings of an individual. Our Global Health Care product addresses these exact reservations and provides you that relief in opting for best-in-class treatment anywhere in the world without worrying about the financial burden.”
“For international claims, we have collaborated with Allianz Partners, where our aim is to ensure that our citizens get access to the best medical facilities outside India as well and have a worry-free claim settlement experience. As a company, it has always been our endeavour to be there for our customers at every touchpoint and with our Global Health Care product, we are extending our care and protection that transcends borders,” he added.
Global Health Care offers policyholders the option to choose between Worldwide Cover including USA and Worldwide Cover excluding the USA. This product is offered to Indians residing in India with a sum insured available on an individual basis for a policy cover period of 1 year. The entry age for adult members is from 18 to 65 years and for dependent children is from 3 months to 30 years with a lifetime renewal option. Cashless and Reimbursement claim settlement options are available in the Global Health Care product. The premium starts from Rs 39,432 excluding GST provided with an EMI facility for the payment of the premium on a monthly, quarterly, half-yearly, or annually basis. An additional 5% discount will be applicable if two or more members of the family opt for the policy.