The country’s largest non-life insurance company New India Assurance on Tuesday launched a comprehensive worldwide mediclaim policy named ‘New India Global Mediclaim Policy.’
It is a critical illness policy, covering treatment for cancer, neurosurgery, heart surgery, organ transplant and bone marrow transplant in hospitals outside India. So far the insurer has tied up with top 99 global hospitals including global medical centres like Cedar-Sinai Medical Center, John Hopkins Medical Center and Kings College Hospital that are a part of New India’s empanelled hospitals.
The policy has two variants one covering hospitalisation with medical centres in Asian countries and the other offers the same service worldwide.
In Asian countries, the plan offers a lifetime cover of $1 million (Rs 6.5 crore), while the worldwide lifetime coverage insures an individual for $2 million (Rs 13 crore). The policy also covers other services like medical second opinion and expenses for travel, accommodation and treatment in a foreign land.
The entry age of Global Mediclaim Policy is between 18-65 years and will be issued only to citizens residing in India. Any person who already has a health insurance policy of Rs 8 lakh and above can avail this plan.
The policy has a waiting period of 90 days. The primary treatment should be availed in India after which the insured can go abroad for advanced treatment.
The cover excludes all non-melanoma skin cancers, diagnostic procedures, preparatory pre-surgical radio and chemotherapy, angioplasty, ongoing cycles of radio or chemotherapy and long-term pain and management taken in India.
For a person aged 40, the premium for Plan A (treatment in Asian countries) could range between Rs 15,427 to Rs 28,854; and that of allowing treatment worldwide, the premium would range from Rs 20,249 to Rs 38,498.
G Srinivasan, chairman and managing director, New India Assurance said: ‘Global Mediclaim policy has been designed to ensure that Indians will now get a choice to pursue the best medical treatment available anywhere in the world with a comprehensive insurance cover from an Indian insurer. It is a new milestone in Indian health insurance industry.”