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Cholamandalam Health Insurance Benefits
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One of India's biggest general insurance firms is Cholamandalam MS General Insurance Company. By offering comprehensive health insurance coverage for individuals, families, the elderly, those with severe illnesses and others, it has established a solid name in India's health insurance industry. The business provides several practical goods for both people and families that may be renewed online. Cholamandalam MS health insurance plan benefits include easy and quick purchasing process of a health insurance plan. A range of plans from Cholamandalam MS General Insurance Company Limited is intended to give customers thorough coverage. Examples of these coverages include AYUSH coverage, pre- and post-hospitalization coverage, pre-existing ailment coverage, and others. Along with this, the insured members also receive some other benefits like cashless hospitalisation, customer assistance, the choice of a grace period, lifetime renewability, portability, and more. Here is all you need to know about the benefits of Cholamandalam MS health insurance.
Cholamandalam MS Health Insurance Benefits
Cholamandalam MS health insurance benefits are wide-ranging. Here are the regular benefits of Cholamandalam MS health insurance:
1. Free Health Checkup
Cholamandalam MS health insurance benefits include free health examinations to you once every two claim-free years. This perk serves as a value-added service for policyholders who are connected to the insurer.
2. Lifelong Renewability
One of the exciting Cholamandalam MS health insurance benefits is the lifelong renewability option with every plan. By timely and continuously renewing your policy, this option enables you to maintain your health insurance coverage for the remainder of your life.
3. AYUSH Coverage Benefits
With these Cholamandalam MS health insurance benefits, up to the amount of the sum insured, the insurer will cover medical expenditure due to a hospital stay of more than 24 hours for the treatment of any illness or accidental bodily injury using non-allopathic methods such as ayurveda, homeopathy, yoga, naturopathy, unani, and siddha.
4. Portability Benefit
Cholamandalam MS health insurance benefits also allow policyholders of any other insurers who are interested in transferring to a comparable type of health insurance plan offered by this insurance company. What’s more, they can also maintain their existing benefits.
5. No Claim Bonus
Cholamandalam MS health insurance plan benefits include the no-claim bonus benefit, which is a monetary award provided to you for each year you avoid filing a claim.
Because you maintained your health throughout the policy period and made no claims under your health insurance policy, you are eligible for the prize. You were not entitled to receive reimbursement from your insurance regarding any of your healthcare expenses during that time. It has thus some advantages for you with a no-claim bonus.
6. Tax Benefits
Other benefits of Cholamandalam MS health insurance are the tax advantages provided on the premium payment made for health insurance. According to Section 80D of the Indian Income Tax Act, the cost of your health insurance is tax deductible. This implies that the premium you pay for health insurance can be written off from your taxable income.
It doesn't matter which one of the coverage by Cholamandalam MS Health Insurance you are insured for, some of the benefits like a grace period, pre and post-hospitalization, portability benefit, etc., fall under the benefits of Cholamandalam MS health insurance.
The Bottom Line
In current days having health insurance is very important. Cholamandalam MS Insurance believes in building trust, upholding the highest level of openness, and utilising cutting-edge technology. Cholamandalam MS makes procedures easy and offers a wonderful client experience. Cholamandalam MS health insurance benefits ensure you have all the best coverages customized to your needs under one roof. The company provides you with all the basic necessary benefits like tax benefits and basic coverages, along with benefits that are individual to them. The insurance company provides a range of health insurance policies for you, such as hospitalisation plans, daily benefit plans, super top-up plans, and critical illness plans.
Cholamandalam Health Insurance Benefits FAQs
1. Are costs associated with in-home hospitalisation reimbursed by Cholamandalam MS plans?
Per insured individual and per insurance year, domiciliary hospitalisation costs reimbursement falls under the Cholamandalam MS health insurance plan benefits for a maximum of 7 days.
2. Are there any cumulative bonuses available under Cholamandalam MS health insurance plan benefits?
Yes, Cholamandalam MS health insurance benefits provide a cumulative bonus of 5% of the insured amount provided for each year without a claim. The bonus can only be given for a maximum of 50% of the insured amount.
3. Do Cholamandalam MS health insurance policies cover pre- and post-hospitalization expenses?
Yes. Under any of the benefits of Cholamandalam MS health insurance, the insurance will cover any medical costs spent between 30 days before being admitted to the hospital and 60 days after being released. Plans differ with regard to this pre- and post-hospitalization time frame.
4. Do any of the health plans offered by Chola MS Insurance Company provide hospital cash benefits?
Yes, Cholamandalam MS General Insurance Company offers a unique plan called Chola Hospital Cash Healthline to give clients access to hospital cash benefits.
5. Which services are excluded from Cholamandalam MS health insurance policies?
The following exclusions are not available to policyholders of Cholamandalam MS Health Insurance's health insurance plans:
- War-like Conditions-No coverage is provided for treating illnesses or injuries resulting from acts of war, including invasions, atrocities committed by foreign foes, uprisings, mutinies, and the imposition of martial law.
- Alcohol or Drug Abuse-The insurer will not pay for injuries or illnesses brought on by the consumption of alcohol, tobacco products, illegal drugs, or narcotic medications, or by their misuse or abuse.
- Self-Harming- The company will not pay for the treatment of any injuries or illnesses an insured person suffers as a result of engaging in or trying any act of self-harm or attempted suicide.
- Cosmetic or plastic surgery-Unless necessary due to traumatic injury, the insurer will not pay for medical expenses associated with plastic surgery, cosmetic treatments, any aesthetic procedure, burns, etc.
- Sexually Transmitted Disease-The insurance company will not give reimbursement for the treatment of any sexually transmitted diseases.
The aforementioned exclusions and inclusions may differ from one Cholamandalam MS Health Insurance plan to another.