10K Tax Saver Health Insurance

How does it work:
The premium payable under this plan is fixed at Rs.10,000 (which is the maximum deduction available under section 80 D) and the amount of coverage changes depending on the age and the number of members covered. This amount is fully deducted while computing your taxable income. Hence, you save Rs.3366* on your health insurance and the effective cost is Rs.6634* only.

* For highest income tax slab of 33.66% (including 10% surcharge for income above Rs. 8.50 Lakh and education cess @ 2%).

Policy Coverage:
The policy covers medical expenses:

• Incurred as an inpatient during hospitalisation for more than
  24 hours, including room charges, doctor’s / surgeon’s fee, medicines, etc.
• 30 days prior to hospitalisation.
• 60 days post hospitalisation.
• Pre-existing disease can be covered after the 4th year provided the policy is renewed with us for four consecutive years.
• Technologically advanced treatment that do not need 24-hour hospitalisation but are covered under the health insurance are:-
  Dialysis
  Chemotherapy
  Radiotherapy
  Eye Surgery
  Kidney Stone Removal
  Cardiac Catheterization
  Tonsillectomy
  Hydrocele Surgery
  Hernia Surgery
  Dilatation & Curettage
  Other surgeries requiring less than 24 hours due to advancement in technology.

Eligibility:

• The enrolment age (of the senior most family member) should be between 19 years to 60 years.
• Other members in the plan can be less than 19 years of age (i.e. up to 91 days).
• The policy cover is renewable till the age of 75 years.
• The customer can buy the policy only for his family (defined as self, spouse, dependent children and dependent parents for the purpose of income tax exemption u/s Sec. 80D) as a proposer and exclude himself from the plan.

Benefits :
The Family Floater Health Plan Advantage:

One Policy – One Premium for the entire family. The floater health plan covers your entire family under one policy with one sum insured and one premium. This takes care of hospitalisation expenses in case of a sudden illness, accident or planned surgery of the entire family.

• Maximum income tax benefit under section 80 D.
• Fixed premium of Rs 10,000 for all plans.
• Cashless claim facility available at over 1,600 network hospitals in more than 175 cities across India.
• No health check up required.
• Digitally signed policy available 24X7 online.
• Multiple payment options.

Additional Benefits:

Double Benefit: A benefit of Rs.10,000/- is paid, if more than one member of the family (covered under one policy) are simultaneously hospitalised for a period of 5 consecutive days or more.

Convalescence Benefit : A benefit of Rs.10,000/- is paid, if the period of hospitalisation is 10 consecutive days or more. This benefit is paid once in a year.