New India Assurance Group health insurance

The New India Assurance company was founded by Sir Dorab TATA from the house of TATAs incorporated in the year 1919. It was nationalized in 1973, with the merger of Indian companies. The company currently operates in 26 countries and is headquartered at Mumbai, India. It opened an office in London, U.K in the year 1921 and has been serving for more than 100 years catering to the requirements of various people and has a desk at Llyod’s. New India Assurance acts as a promoter for companies such as Agricultural Insurance company of India & GIC Housing Finance Ltd. Readmore...

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A common Third party administrator known as Health Insurance TPA of India, along with the Government of India has been promoted by New India Assurance company.

New India Assurance is one of the four public sector general insurance companies in India carrying out non life insurance business. They offer different insurance products such as New India assurance mediclaim, New India assurance health insurance, New India assurance policy, Motor insurance, Liability insurance, Engineering insurance, Workmen’s compensation insurance etc. The global business has crossed Rs.31573 Crores in March, 2021 with business coming from all parts of the World. View less...

Key benefits of New India Assurance

There are certain benefits of New India assurance health insurance or mediclaim insurance policy which are mentioned below

Impairment of a person's intellectual faculties

The impairment of a person’s intellectual faculties caused by the usage of drugs, stimulants or depressants as prescribed by a medical practitioner is covered, subject to it arising during treatment of covered illness. The coverage would be available up to the sum insured mentioned in the New India assurance mediclaim policy.

Artificial life maintenance

Artificial life maintenance including life support machine use, in which cases such treatments would not result in recovery or restoration of the previous state of health under any circumstances unless in a vegitative state as certified by the treating doctor is covered following admission for a covered illness.

Treatment of mental illness, stress

The costs involved in the treatment of mental illness or stress would be covered including the pre and post hospitalization after a waiting period of 48 months. These illnesses include:

Major depressive disorder- when a person is aggressive or violent
Acute psychotic conditions- aggressive/ violent behavior or hallucinations, incoherent talking or agitation.
Schizophrenia
Bipolar disorder

Treatment of Behavioral, Neural, Psychological disorders

The cost of treatment of behavioral, neural and psychological disorders are covered under the New India mediclaim health insurance policy. Disorders of adult personality and disorders of speech and language including stammering, dyslexia, are covered as inpatient procedures. Genetic disorders or diseases are also covered after a certain waiting period as mentioned in the policy document.

Puberty or menopause related disorders

Treatement for any symptoms, illnesses, complications arising due to phsycological conditions associated with puberty, menopause such as menopause bleeding or flusing is covered only as inpatient procedure after a certain waiting period as specified in the policy copy.

Hospitalization

The hospitalization of the insured member of the New India assurance mediclaim policy is covered up to a certain limit as mentioned in the policy terms and conditions. In-patient hospitalization, outpatient hospitalization, day care hospitalization etc are covered under the New India health insurance policy.

New India Advantage

There are certain advantages of taking a health insurance policy with New India which are mentioned below

High claim settlement ratio

The claim settlement ratio of New India Assurance is around 98-99% which is one of the highest ratios in the India insurance market.
High settlement ratio indicates that the chances of your claim settling are higher. Higher claim settlement ratio also leads to greater customer satisfaction.
New India assurance claim settlement ratio is calculated by taking into account the number of claims reported and the number of claims settled during a particular year.
The claim settlement ratio would vary every year as there would be certain claims which would be carried on from the previous years.

Maternity benefit

New India assurance health insurance policy comes with a maternity benefit as well as baby cover.
A maximum of 10% of the average Sum insured of the insured person in the preceding three years would be given as the maternity benefit.
A new born baby is also covered under the New India assurance group mediclaim health insurance policy up to 90 days after which the baby should be added into the main policy on payment of additional premium.
The maturity benefit can be availed by adding the member or the spouse of the member in the New India mediclaim health insurance policy immediately after occurence of an event such as marriage or joining the organization.

Competitive premiums

New India assurance is best known for its affordable premiums.
The health insurance premiums of New India assurance are very competitive in the market.
All the services such as endorsements, addition and deletions, claim settlement etc. are being provided by the New India assurance at the same levels of private insurance companies.
The Indian insurance market is a highly premium sensitive market and even a minor difference in premium would influence the purchase decisions of the customers.

Free health checkups

The other advantage of New India assurance company is that it offers free medical checkups to all the members of the group health insurance policy.
The free medical checkups can be availed at any of the network hospitals or diagnostic centers on a cashless basis with prior approval from the insurance company.
The insured member needs to show the health card at the hospital or diagnostic center to avail the free health checkups.
The free health checkup is available once in every 3 claim free years. It is basically offered as an incentive for nil claims during the previous 3 years.
The eligibility of health checkups is different for different policyholders depending on their sum insured and plans.
The health checkups can be utilized by the insured customers once every 3 claim free years.