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Insurance Companies 3568 views July 30, 2019
Religare Health Insurance Company – Overview
|Name||Religare Health Insurance Company Limited|
|Managing Director & CEO||Anuj Gulati|
|Owner||Religare enterprise limited, Union Bank of India and Corporation Bank|
|Products||Health, Travel and Fixed Benefit Insurance|
|Total No of Employees||6000+|
Table of Contents
The choice of a health insurance plan depends on a lot of factors. An essential measure to secure against unforeseen and exorbitant medical expenses, buying health insurance also lends a feeling of being covered. This is because many health plans sold by health insurance companies in India also include scope for payment of pre and post-hospitalization expenses.
Choosing the right health insurance plan is a seemingly daunting task as health insurance companies in India clamour to gain their customers’ attention. Religare Health Insurance with all its unique benefits and distinct features makes it exceedingly easy for customers to understand the concept of health insurance and choose the necessary health plan accordingly.
Some of the essential features of Religare Health Insurance Plans are:-
Number of Members
As opposed to the currently available health insurance plans in India, this plan offers to cover six members of one’s family, which includes two kids and four adults. This means that the customers opting for these plans can not only seek an assured health cover for themselves and their two children but can include their parents too in the health plan.
Renewing your health insurance policy may be cumbersome. That explains why Religare Health Insurance allows the benefit of lifelong renewability to both its new and existing customers. Automatic renewability means that the policyholders continue to be covered against any sudden medical emergency, thus, securing them against the expenses on hospitalization and subsequent treatment.
Pre and Post-hospitalization Cover
The expenses on treatment are beyond what one spends on paying off the bills at the hospital. Thus, health insurance companies started extending benefits including pre and post-hospitalization cover to their policyholders. Reliance Health Insurance policyholders pay for pre and post-hospitalization expenses up to 30 days and 60 days, respectively.
Free Health Check-Ups
The insured have access to free health check-ups, which means that the company takes an interest in the well-being of its members.
Nominal Waiting Period
A waiting period of four years for pre-existing illnesses is mandated under the policy. This means that the policyholders have to wait for a minimum period of four years before claiming the amount spent on the treatment of pre-existing disorders.
Before buying any health insurance plans, it is important to understand and realize the inherent benefits corresponding to each plan and whether the plan’s features and benefits are in sync with our needs. The common benefits include:-
|Wide Hospital Network||With more than 4000 hospitals across the country listed in the company’s network, the policyholders are able to seek treatment at their choice of hospital.|
|Expertise Guaranteed||So many times customers complain about health insurance plans being designed by those with zero contribution to the health realm. However, as opposed to other health insurance companies in India, Reliance Health Insurance combines the expertise of Fortis Healthcare and the experience of SRL Diagnostics in health-related problems and solutions.|
|High Claim Settlement Ratio (C.S.R.)||The incurred claim settlement ratio of Religare Health Insurance is above 50 percent, which is one of the highest in the health insurance sector.|
|Claim Settlement Record||Most customers are apprehensive of buying new health insurance policies considering their previous experience with other health insurance companies. With an impeccable claim settlement record since its inception, policyholders feel reassured after buying this plan or renewing it each year.|
|No Claim Bonus (NCB)||Reliance Health Insurance knows how to reward its policyholders who do not make frivolous claims and, hence, have paid premiums pursuant to claim-free years. For certain particular products, the NCB can go up to 150 percent too.|
|Strong Customer Care Support||Efficient customer care service ensures that the policyholders avail necessary help, if and when required. Moreover, its technologically driven customer care support means that the policyholders remain updated about various aspects of their health insurance policies including the policy status.|
Buying the right health insurance plan involves a lot of contemplation. This is because of the myriad factors involved in the buying decision. Some essential factors that one must consider while choosing and paying for health insurance policies include:-
One can avail a number of health insurance plans sold by Reliance Health Insurance Company. Each plan has been designed to meet the needs and budgetary requirements of its prospective customers. Some of the popular Reliance health plans include:-
This is a comprehensive health insurance cover that provides cover to the policyholders and their entire families. Also, the policyholders are entitled to policy renewals and free health check-ups for the entire family. Moreover, a hassle-free purchase is possible owing to the availability of this policy online.
Added benefits of this plan include:-
This plan is for the mothers and the newborns. This plan comes in two different variants as the benefits and the eligibility differ in each case. The plans are:-
|Religare Joy Today Health Insurance Plan||Religare Joy Tomorrow Health Insurance Plan|
|The minimum and maximum amounts of the sum insured are Rs 3 lakhs and Rs 5 lakhs, respectively. The maternity waiting period does not exceed nine months. Newborns are covered since the first day of their birth. However, mothers aged above 45 years cannot be covered under this plan. This is actually an individual plan that allows cover up to six people in the family.||The minimum and maximum amounts of the sum insured are Rs 3 lakhs and Rs 5 lakhs, respectively. The maternity waiting period before the plan comes into play is 24 months, which means that policyholders cannot claim insurance against maternity expenses up to 24 months of paying for the policy. Mothers more than 45 years old are not included in the plan and up to six people in a family are covered under this individual plan.|
However, both the plans have similar benefits that may be listed as under:-
Senior citizens need the care and support of their loved ones more than others. This explains the need to have a health insurance plan in place that not only ensures an adequate amount of sum insured but also a prolonged policy period, thus, doing away with the hassle of renewing the policy each year.
The minimum amount of sum insured is Rs 3 lakhs while the maximum amount of sum insured that one can opt for is Rs 10 lakhs. The insured has access to benefits like:-
Instead of buying two separate health insurance plans, it is preferable to buy a top-up plan that pays for hospitalization and treatment in case of medical bills crossing the threshold limit equivalent to the sum insured in the health insurance policies invested in. Some in-built features of this plan include:-
This is, in fact, a health insurance plan with fixed benefits including the much sought-after critical illness cover and personal accident insurance. The minimum amount of sum assured is Rs 5 lakhs while the maximum can go up to Rs 1 crore. The in-built benefits of buying this plan include:-
This policy also ensures additional benefits like no other health insurer. These include:-
This plan is more about coverage against expenses on treatment in the event of accidental injury or deterioration of health conditions because of an accident. The key benefits of this plan include:-
Additional benefits of investing in this health insurance policy include:-
A major percentage of the health insurance companies in India allow their customers to choose between the benefits of cashless claim settlement or reimbursement of the expenses made on treatment. While most customers opt for the cashless settlement option, emergency treatment in any one of the hospitals outside the insurer’s network implies seeking reimbursement of the expenses made. The claim intimation process for cashless treatment at one of the network hospitals and reimbursement of treatment expenses is different.
Step 1: Claim Intimation
It is important that you inform the insurance company in advance of your intent to get yourself treated in the event of planned hospitalization at least 48 hours before getting admitted to the hospital for necessary treatment. You may either call on the customer care helpline number 1800-102-4488 or intimate the same through email at email@example.com. In case of emergency hospitalization, inform the insurance company within 24 hours of the admission to the hospital.
Step 2: Seeking Pre-authorization
Fill in the necessary details shared in the pre-authorization form available at the hospital’s insurance/TPA desk. Alternatively, policyholders may download the pre-authorization form from the insurance company’s website. Post-filling of the details in the form and its submission, the hospital will fax the completed pre-authorization form to the insurance company.
Step 3: Pre-authorization Request Processing
The pre-authorization form submitted goes through a series of procedures during which the insurance company reviews the case and documents submitted by the insured or the policyholder. On approval of the request form submitted, the insurance company informs the policyholder and the hospital about the same. Submission of incomplete details or requirement of any further information will stall the pre-authorization process. Necessary details must be quickly submitted to ensure timely pre-authorization prior to the treatment process.
Step 1: Claim Intimation
Emergency hospitalization may result in the patients getting admitted in a hospital outside the health insurance company’s network. In the event of such sudden hospitalization, it is important that the patients are informed within 24 hours of being admitted.
Step 2: Initiating Claim Settlement Process
The policyholders may choose to either download the pre-authorization form from the insurer’s site or approach the insurer’s desk at the concerned hospital. The policyholder would be required to fill in the following details in the claim settlement form. These include:-
– Policyholder’s name
– Name and customer ID of the insured
– Details of the hospital
– Reasons for hospitalization including hospitalization
– Treatment details of the patient
– Estimated claim amount
– Date of admission to the hospital
To ensure an easy and hassle-free claim settlement process of their health plans, policyholders have to submit certain necessary documents. These include:
– Documents showing proof of age and residence
– A canceled cheque of the bank in which the policyholder wants the reimbursement amount to be credited
– Original bills, receipts and discharge card from the hospital
– First Information Report (FIR) in the event of an accident
– Original bills of treatment received from the hospital, chemists and doctors’ prescriptions
– Original reports including X-rays, blood reports, etc.
– Implant sticker/invoice, if used, to treat patients with amputation or being treated for cataract
– A copy of the FIR lodged at the nearest police station in case of hospitalization due to accident or instances of road rage
– Other documents as required by the insurance company.
Effective customer care service and prompt claim settlement have resulted in a number of people opting for claim insurance renewal. In addition, customers who had initially bought other health insurance plans are now renewing their policies with Religare Health Insurance. Also, the policyholders can opt for a higher sum insured during the policy renewal.
Nomination for an award or particular accolades mirrors the industry’s recognition towards the company’s efforts. Increasing customer base highlights the growing confidence of customers into investing in the company’s insurance plans as per their requirements. However, some awards won by the company had grabbed everyone’s attention. These include:-
1) “Bancassurance Leader of the Year” – The Insurance India Summit & Awards 2018
2) “Best Claims Service Provider of the Year” – The Insurance India Summit & Awards 2018
3) “Bronze Skoch Award” – Micro Insurance Category for ‘Grameen Swaasthya Suraksha
4) “Social Media Initiative of the Year Award” – ‘Overall’ category – ‘The India Insurance Awards 2016
5) “FICCI Healthcare Excellence Award – 2015” – ‘Medical Insurance Products’
6) “Innovative Social Media Campaign” – General Insurance category – The India Insurance Awards 2015
7) “Best Health Insurance Company Award”- ABP News BFSI Awards 2015
8) “Rising Star Insurer Award” – The India Insurance Awards 2014
Toll-free Customer Service Number
Call 1860-500-4488 (to buy a new policy)
Call 1800-102-4488 (for service-related queries)
Religare Health Insurance Limited CIN: U66000DL2007PLC161503
Religare Health Insurance Company Limited,
5th Floor, 19, Chawla House, Nehru Place,
Religare Health Insurance Company Limited,
Vipul Tech Square, Tower C, 3rd Floor,
Sector – 43, Golf Course Road, Gurgaon – 122009
|1) How can one buy a health plan by Religare Health Insurance?|
|You may either opt to buy the health insurance plan from the official site of Religare Health Insurance or log on to the website of any insurance web aggregator to choose the kind of plan you want to buy and pay for the same accordingly.|
|2) What is the benefit of buying family floater insurance from Religare Health Insurance?|
|Health insurance is bought with the idea to secure a cover against the expenses on treatment. Instead of buying an individual health insurance plan for each member, it pays to have a family floater in place that would have in place a health cover for the entire family in lieu of a single premium amount.|
|3) How do I make a claim on my health insurance policy under Religare Health Insurance?|
|Ease of making claims and hassle-free reimbursement are the first things that should be on your mind while choosing any health insurance plan and paying for it. Every health insurance company mandates the fulfillment of certain terms and conditions and submission of necessary documents accordingly. Also, it is important that the insured provides the details as sought by the claim management team to ensure transparency and, thus, easy claim settlement.|
|4) How do I track the claim I had made on my Religare Health Insurance Plan?|
|Customers may either track the progress of the claim settlement process online by clicking on the company’ customer care number at 1800-200-4488 or visit their nearest branch for confirmation. Alternatively, they may also email their requirements to firstname.lastname@example.org.|
|5) Can I cancel my Religare Health Policy if I am not keen to continue with it?|
|Yes, policyholders can seek cancellation of their health insurance plans if they are no more interested to continue with their respective plans. However, it is important to note that every policyholder is entitled to a free-look period of 15 days during which he or she can decide whether to continue with the policy or to cancel the same. However, they may also apply for policy cancellation within the policy period. The insurance company returns the premium charges on confirmation of the policy cancellation.|
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