Oriental Health Insurance Co. Ltd. is a New Delhi based company established on 12th September 1947. The company has its presence all over India with 31 regional branches and 1,800+ operating offices. With a wide network of more than 4,300 hospitals, the company offers various plans for needs of every type of customer.
Features of Oriental Health Insurance
- Oriental health offers cashless claim facility across the network of 4,300+ hospitals
- Doesn’t have initial medical screening for people up to the age of 55 years
- Offers a comprehensive plan for complete needs of various individuals
- Based on the sum insured, you get daily cash allowance during hospitalization
- Provides plans that give the highest sum insured to you (or policyholder)
- Hassle-free and smooth claim settlement process
- Provisions for lifelong renewability, which means you can avail lifelong benefits
- If in case you are not satisfied, you can switch to another health insurance provider easily
Points Covered By Health Insurance
- Oriental health insurance covers hospitalization costs such as room rent, ICU charges, Doctor’s fees, medicine charges, other medical bills, etc.
- The costs that are borne by you before hospitalisation is covered for 30-day time period
- The costs that are borne by you after hospitalization is covered for 60-day time period
- Daily cash allowance is offered for other related costs as per the chosen plan
- Domiciliary treatment charges are covered for a certain time period
- According to your Oriental health insurance policy, daycare charges are covered
- For organ transplant, organ donation costs are covered but it depends on your chosen policy
- Maternity care for both, the mother and infant is included
- Convalescence benefits, which means recovery period, is also covered but according to the policy terms
- Tax benefits under Section 80D
Things You Need To Know Before You Buy Health Insurance
Oriental Health Insurance is emerging as a major health insurance provider due to various features such as lack of initial screening, convalescence benefits, etc. However, you should still consider these few things for purchasing the best Oriental health policy plan according to your needs.
1. Your Needs
Before anything else, you should consider your family requirements that should be covered by your health insurance. For instance, if your family consists only young adults, then an INR 5 Lakh cover will work. However, if you have old parents, then consider a larger cover accordingly. Additionally, if you are planning a family in next few years, don’t forget to look for a plan with maternity benefits.
2. Exclusions of the Policy
Before finalizing a policy, look for exclusions section. See what restrictions are there in this section. There can be restrictions such as the floater policy excludes OPD expenses. Evaluating this section will help you select a better policy according to your requirements.
3. Buy Early
Buying health insurance early (generally, before 40) can give you multiple claim-less years, which will further give you the benefits of No Claim Bonus. This benefit will add-up to your original coverage.
4. Lifetime Renewability
Lifetime renewability becomes essential for old age because as we grow old, illness and ailments increase and so does our visits to the hospital. At such times, you will need your health insurance. Your insurance provider should offer a policy with no age limit of renewal.
5. Co-Pay Option
Anybody who understands how co-pay works rarely opts for a policy with this clause. Co-pay means that you agree to pay a predefined percentage and your insurance provider will pay the rest. For instance, if your co-pay is 10% and your bill is 10,000, then you’ll have to pay 1,000 and rest will be paid by the insurance provider. These policies have lower premiums, but what if the bill amount is high? The co-pay will also be high.
6. Maternity Benefits
If you need maternity coverage, check the sub-limit, outpatient expenses, waiting time period, and exclusions of the cover.
7. Free Check-Up
Some health insurance providers offer free health check-ups. This doesn’t increase premium amount. You should get health check-up done at least once in a year to stay updated on your health issues.
8. No Sub-Limit
Look for sub-limits on various things. For example, if your policy has a sub-limit on room rent, then you need to look for a better policy. This is because you won’t have time to analyze the room rent if you or a family member is taken to the hospital in an emergency.
There are various health insurance plans offered by the Oriental insurance company for both urban and rural population. Visit Coverfox.com now, compare various Oriental health policies, and purchase the best suitable plan for you.