* The plan is a family floater scheme..!
* A fixed premium for a 3 year policy
* The coverage offered by this plan ranges from Rs. 2 lakh to Rs. 10 lakh
Reliance Life Insurance (RLIC), part of Reliance Capital Ltd, has launched its new healthcare offering ‘Reliance Life Care for You Advantage Plan’.
Family Floater Scheme..!
The plan is a family floater scheme that offers coverage for hospitalisation, surgeries and critical illnesses for the entire family.
The launch was announced by Mr. Anup Rau, chief executive officer, Reliance Life, in Mumbai recently.
Fixed premium ..!
The policy allows an insured to pay a fixed premium for a 3 year policy. This premium remains fixed for the 3 year period, irrespective of the number of claims taken by the insured during the validity of the policy.
The plan offers the insured a cover that includes primary member, spouse, children, as well as parents and parents-in-laws.
The primary member can opt for the plan between 18 and 60 years of age with guaranteed renewability till 75 years for adult family members (21 years for children), dependent parents and parents-in-laws.
Coverage Rs. 2 lakh to Rs.10 lakh..!
The coverage offered by this plan ranges from Rs. 2 lakh to Rs. 10 lakh with a no claim bonus of 5 % of the sum assured for every claim - free year, up to a maximum of 30 %.
The policy also covers pre-existing illness, after continuing it for 4 continuous years. The indemnity reimbursement health insurance scheme covers in-patient treatment with both pre and post-hospitalization benefits supported by emergency 24 X 7 customer care Pan India.
A lump sum payment of 5 % of the reimbursable hospital expenses will be made on each hospitalization claim towards pre & post-hospitalization without any supporting document.
The plan also offers 150 day-care treatments, wherein the insured or family members covered under the plan need not stay in the hospital for a minimum period of 24 continuous hours.
The insured will also be entitled for tax benefits on premium payment, as applicable.
Reliance Life Insurance, along with its 3rd party administrators, has created a preferred network of above 4,000 hospitals across India to provide a hassle-free cashless hospitalization benefits to the customers.
PREMIUM..!
To a 35 year-old male with a basic sum assured of Rs 5 lakh, the company will charge an annual premium of Rs 6,204.
CHARGES..!
Some of the charges incurred at hospital are capped, like per day room rent is capped at 1.5% of the sum assured. Go through the exhaustive list of charges before making any decision.
EXCLUSIONS..!
There is a waiting period of 30 days from inception of the policy. If you have a specific ailment at the time of purchasing the policy, your pre-existing illness will be covered after a waiting period of four years. Standard waiting period for pre-existing disease is 2 years.
ADDITIONAL WAITING PERIOD..!
There is a waiting period of one year for ailment such as tonsillectomy and cancer. A waiting period of two years will apply for diseases such as kidney stone, cataract, hysterectomy and fibroids. Ailments like valve replacement, cerebral haemorrhage, angiographies, angioplasty (with or / without stent) and coronary artery bypass graft will have a waiting period of three years.
SURRENDER..!
There is no surrender benefit, maturity benefit or death benefit under this plan.
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