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About New India Assurance Health Insurance

The New India Assurance Company is a public sector insurance company owned by the Indian Government.The company was formed in 1919 by the legendary Sir Dorabji Tata.Today,New India has become a multinational company that is functioning in 28 countries across the world.The company’s headquarters are located in Mumbai,and with a workforce of over 19,795 and 68,389 agents and over 2,395 offices,the company has a strong presence pan India.


CRISIL has also rated the company AAA/Stable since 2014.Since then the company has maintained a B++ Stable FSR Rating and bbb+ Stable ICT Outlook by AM BEST Company.In March 2021, the global business crossed a remarkable INR 31573 crores and the business in India was over INR 28548 crores.The company’s business has also been growing ever since it was established.

New India Assurance Claim Settlement Ratio

92.68%

New India Assurance

94.21%

Industry Average

Health claim settlement ratio is the percentage of claims settled against the total claims received by the insurance company in a given fiscal year. New India Assurance has a claim settlement ratio of 92.68%, as compared to the industry average of 94.21%.

New India Assurance Health Insurance Plans Overview

New India Assurance health insurance offers 2 health insurance plans. The premium of these plans starts from Rs. 1800/yr. The sum insured ranges from Rs. 2 Lakh - 22 Lakh. Details of the comprehensive coverage provided by the following 2 New India Assurance health insurance plans are listed below:

Eligible Age

91 days - 65 years

Coverage

2 Lakh - 15 Lakh

New India Assurance Super Top-up Policy

Starting Premium- 1,800/Yr

Eligible Age

91 days - 65 years

Coverage

5 Lakh - 22 Lakh

Top Features From New India Assurance Health Plans

Features and benefits of New India Assurance Health Insurance:

  • The company operates through 2452 offices which also includes 1339 micro offices
  • The company offers a range of 230 insurance products
  • The health insurance plans offered by the company offer a wide scope of coverage
  • The premiums are affordable and low
  • The solvency ratio of the company is 2.13 which shows that the company is financially stable
  • The company’s growth rate is 13%

Coverage offered by New health insurance scheme :

  1. Hospitalisation costs : Under this feature, the costs incurred when you are hospitalised are covered. The hospitalisation should be for 24 hours or more and coverage is allowed for room rent, doctor’s fees, surgeon’s fee, nurse’s fee, etc.
  2. Pre hospitalisation costs:Costs incurred before you are hospitalised are covered under pre-hospitalisation coverage benefits
  3. Post hospitalisation costs: Costs incurred after you are discharged from the hospital for recovery and monitoring of the illness are covered under this head
  4. Daycare treatments : Treatments that do not require a hospital stay for 24 hours due to advanced technology are covered under most health insurance plans
  5. AYUSH treatments: Non-allopathic treatments through Ayurveda, Homeopathy, etc. are also covered under many health insurance plans offered by New India
  6. Organ donor costs: If you are undergoing organ transplant surgery, the costs incurred in harvesting the organ from an organ donor would be covered under the plan
  7. Ambulance costs:The costs incurred in transporting the insured individual to the hospital for hospitalisation are called ambulance costs. These costs are covered under health insurance plans up to specified limits
  8. Domiciliary treatments: Domiciliary treatments include treatments taken at home because you cannot be moved to the hospital or because there is no hospital bed available.These treatments are covered under many New India Assurance mediclaim policies
  9. Maternity coverage: Some New India health insurance plans also allow coverage for maternity-related costs like those incurred during childbirth. These costs are covered up to a specific limit depending on the plan that you choose
  10. Free health check-ups:All health insurance plans offered by New India allow you free health check-ups after a specified duration. These check-ups allow you to track and monitor your health periodically
  11. No claim bonus:If no claims are made in the preceding policy years your health insurance policy becomes eligible to earn a no claim bonus. The no-claim bonus is allowed either as an increase in the sum insured at the same level of premium or as a discount in the renewal premium
  12. Optional coverage benefits under New India health insurance plans
    1. Maternity cover: Many plans offer maternity coverage as an optional benefit at an additional premium.Through this coverage, you can get the costs of childbirth covered under the plan
    2. Revision in cataract limit : Cataract coverage is allowed under some plans up to specified limits. These limits can be enhanced through this add-on
    3. New India Asha Kiran PolicyVoluntary co-pay : You can choose to pay a portion of the claim from your own pockets.This is called voluntary co-payment. If this add-on is selected, you get premium discounts in the policy

Exclusions Across New India Assurance Health Plans

There is a specific list of exclusions found in all New India Assurance mediclaim plans. These exclusions include those costs and treatments which are not covered under the plan. Some common exclusions include the following

  • Pre-existing illnesses are not covered from policy inception. They are covered after a waiting period
  • Cosmetic treatments and dental treatments are not covered in all health plans
  • Illnesses or injuries suffered due to suicide, self-inflicted injuries, substance abuse, criminal acts, etc. are not covered
  • HIV, AIDS and other sexual or venereal diseases are not covered
  • Cost of spectacles, dentures, hearing aids, etc. are not covered
  • There might be specific waiting periods for named illnesses
  • War, invasion, participation in hazardous sports, etc. are not covered
  • Congenital diseases
  • Mental disorders, etc.

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New India Assurance Customer Care

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New India Assurance Claim Process

New India Assurance supports both cashless claims and reimbursement claims. This section covers the information on how to check New India Assurance health insurance claim status, fill New India Assurance health insurance claim form, and the claim settlement process.

Claim cashless hospitalisation, you would have to be treated at a networked hospital. The list of networked hospitals can be found online on the company’s website. The hospital should be approved by the company’s TPA for you to avail of cashless benefits. If the hospital is not approved, claims would be settled on a reimbursement basis only

  1. You should inform the company’s TPA (Third Party Administrator) whenever you face any claim. The information should be given at least 48 hours before a planned hospitalisation or within 24 hours of an emergency one
  2. After you are discharged from the hospital, submit the relevant documents to the TPA for reimbursement of the expenses that you had incurred on treatments
  3. The documents should be submitted within 7 days of discharge. For claiming post hospitalisation expenses, the documents should be submitted within seven days of completion of the post hospitalisation treatments
  4. You would also have to authorize the TPA to obtain any and all medical records from the hospital if required

New India Assurance Health Insurance Renewal Process

Renewal Process of New India Assurance Health Policy
It is essential to renew your health insurance policy from New India Assurance to continue enjoying the coverage offered to avoid policy lapse. Insurers offer either an online method or an offline process to renew your plan as per your convenience. Let’s look at both the methods provided by New India Assurance Company:

New India Assurance Health Insurance Online Renewal Process
To continue enjoying your coverage of New India health insurance policy, you need to renew the health plan. Below are the steps you need to follow in order to renew:

Step 1: Begin by visiting the official website of New India Assurance

Step 2: Go to the 'Quick Help' section. Within the 'Quick Help' section, select 'Quick Renewal' from the options provided

Step 3: Provide your Customer ID and either the Renewed Quote No. (received via SMS) or your Old Policy Number

Step 4: Review your policy details to ensure accuracy and save your quote for reference

Step 5: Proceed to make the payment for your health insurance policy renewal. You can use a debit card, credit card, or utilize net banking for this purpose

Step 6: Following successful payment, you will receive a confirmation email confirming the renewal of your health insurance policy

New India Assurance Health Insurance Offline Renewal Process

If you are someone who is not very comfortable with the online process then they can also renew the health insurance plan by New India assurance by calling on their toll-free customer care number 1800-209-1415 and request for policy renewal by sharing all the details

A policyholder also has an option to get the New India Assurance Policy renewed by reaching out to a Turtlemint Insurance advisor who can help with the easy renewal process

FAQs

Under many health insurance plans, there is a concept of co-payment wherein you are required to bear a part of your claim yourself. The insurance company would pay the claims which are in excess of the co-payment ratio. For example, if the co-pay ratio is 20%,20% of the claim would be borne by you and the insurance company would bear the remaining 80%. Co-payment is usually applicable where senior citizens are insured

If the plan allows maternity coverage, costs incurred in childbirth through normal or Caesarean delivery, pre-natal and post-natal care and any other charges related to childbirth are covered under the plan. However, routine doctor’s consultations during pregnancy, diagnostics, etc. would not be covered

Under health insurance plans you can claim a tax deduction of up to INR 1 lakhs through the provisions of Section 80D. Here’s how

  • You get a deduction of up to INR 25,000 if you buy a policy covering yourself, your spouse and your dependent children
  • This limit increases to INR 50,000 if you are aged 60 years and above
  • If you buy a separate policy for your dependent parents, you can claim a deduction of up to INR 25,000 on your policy and another INR 25,000 on your parent’s health insurance coverage. So, you can get a total deduction of up to INR 50,000
  • If your parents are senior citizens, the limit of deduction on their policy would increase to INR 50,000. Thus, you can claim one deduction on your health insurance coverage for up to INR 25,000 and another on your parents’ policy for up to INR 50,000. The total deduction available would be up to INR 75,000
  • If you are also a senior citizen, the deduction on your policy would be up to INR 50,000 and your parents’ policy would also be INR 50,000. Thus, you can get a total deduction of up to INR 1 lakh
  • You get a deduction of up to INR 25,000 if you buy a policy covering yourself, your spouse and dependent children
  • This limit increases to INR 50,000 if you are aged 60 years and above
  • If you buy a separate policy for your dependent parents, you can claim a deduction of up to INR 25,000 on your policy and another INR 25,000 on your parent’s health insurance coverage. So, you can get a total deduction of up to INR 50,000
  • If your parents are senior citizens, the limit of deduction on their policy would increase to INR 50,000. Thus, you can claim one deduction on your health insurance coverage for up to INR 25,000 and another on your parents’ policy for up to INR 50,000. The total deduction available would be up to INR 75,000
  • If you are also a senior citizen, the deduction on your policy would be up to INR 50,000 and for your parents’ policy would also be INR 50,000. Thus, you can get a total deduction of up to INR 1 lakh

Yes, you can choose as many optional covers that you like depending on your coverage needs. For each optional cover selected, however, you would have to pay an additional premium.
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