The New India Assurances' policy covers in-patient hospitalisation expenses and comes with some decent benefits. The sum insured is the maximum liability of the company for all members of the policy. Thus, this policy offers protection in excess of any primary health policy scheme that the insured may have. However, the sum insured under the policy will be available over and above any reimbursement received from any other entity if such amounts exceed the threshold.

Under this policy, eldest member of family is to be considered as primary member. All other members of family will be considered as additional members.

Who Can Take This Policy?

The policy can be issued on Individual or Floater Sum Insured basis covering up to 6 members of the family. If the policy is to be issued on Individual Sum Insured basis, then separate document will be issued to each Insured. Family comprises of Self, Legal Spouse, dependent Children and dependent Parents.

This policy will be valid for a period of one year from the date of inception.

In this top-up cover, hospitalization expenses ranging from Rs 15 lakh to Rs 20 lakh can be availed for Rs 3,500 a year for someone up to 44 years.

Thresholds

The following Hospitalisation expenses incurred in respect of all the Insured members shall be considered for determining the Threshold under the Policy:

1. The admission in the Hospital should have happened during the policy period.
2. The Insured should have been admitted as an inpatient (outpatient treatments are not to be considered).
3. The hospitalisation should be for an injury or illness.
4. Pre-hospitalisation and post-hospitalisation expenses will not be considered.

Once the Insured Person crosses the age of 65 years, the applicable premium on renewal will be loaded by 2.5% per year. This loading is applicable on premium for the age band of 61 - 65years.

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