Oriental Insurance
Happy Family Floater Policy Silver
It is a plain vanilla policy with a modest cover that won't hurt your pocket too much. But the insurer doesn't offer many benefits. They will make you split the bill each time you are hospitalized. And they'll ask you to wait 3 years before covering complications arising out of pre-existing diseases (like diabetes).
What's good here?
Pre & Post hospitalization expenses covered
No worries if the doctor had to run a host of diagnostic tests before or after hospitalizing you. The insurer has your back. They will cover this amount in full for a pretty reasonable duration - 30 days before you are hospitalized and 60 days after discharge. This includes the cost of medication by the way.
No worries if the doctor had to run a host of diagnostic tests before or after hospitalizing you. The insurer has your back. They will cover this amount in full for a pretty reasonable duration - 30 days before you are hospitalized and 60 days after discharge. This includes the cost of medication by the way.
Day Care treatments covered
If you’re hospitalized for less than 24 hours in lieu of a minor procedure, then the insurer will cover these costs too. Think dialysis, chemotherapy or minor surgeries.
Covers Alternative Medicine
Think of getting Ayurvedic, Homeopathic or other alternative treatments to cure an illness? Your insurer will cover you fully, up to the sum insured.
What's bad here?
Restrictions on the rooms you can pick and much more
Your insurer won’t let you stay in a room whose rent exceeds 1% of the sum insured. If it’s an ICU they’ll bump it to 2% of the sum insured. And in the event you breach these limits, then you’ll have to pay a lot more - Read more here
Your insurer won’t let you stay in a room whose rent exceeds 1% of the sum insured. If it’s an ICU they’ll bump it to 2% of the sum insured. And in the event you breach these limits, then you’ll have to pay a lot more - Read more here
You will have to pay a portion of the bill
The policy will only cover 90% of the final bill. The rest is on you. They call this a co-payment.
Has disease wise sub-limits
Your insurance cover won’t be fully available in case you are treated for Modern treatments and a few other diseases. Meaning the insurance company has a cap on the total amount they’ll pay out if you are treated for these specific illnesses.
What's okay here?
Reasonable waiting period for pre-existing diseases
If you’re already dealing with diabetes, cardiovascular problems or any such illnesses, the insurer will cover all costs arising out of these pre-existing problems after you wait for 3 years.
Some coverage if you are forced to hospitalize at home
The insurer will pay up to ₹25,000 if you are forced to hospitalize at home due to a medical condition or the hospital running out of beds. In insurance lingo, they call this a policy with domiciliary cover.
What's lacking here?
No Restoration Benefit
Some policies will tell you - Even after you claim part of the cover on one occasion, you will have the full cover restored, if you are hospitalized another time during the same year. So if you have a family cover and multiple members of the family are hospitalized in the same year, this feature will come in handy. Unfortunately, this policy offers no such benefit.
Some policies will tell you - Even after you claim part of the cover on one occasion, you will have the full cover restored, if you are hospitalized another time during the same year. So if you have a family cover and multiple members of the family are hospitalized in the same year, this feature will come in handy. Unfortunately, this policy offers no such benefit.
No Bonus for being healthy and not claiming insurance
Some policies offer you extra cover if you go an entire year without claiming your insurance. This policy, however, offers no such benefit.
Your insurer doesn’t provide free health check-ups
If you want to get a full-body checkup just to make sure you’re in fine working condition, be ready to pay for it yourself.
Add-ons
Life Hardship Survival Benefit
With this add-on you get a lumpsum payment in the event you are diagnosed with critical illnesses outlined in the policy document.
Personal Accident cover
With this add-on, the insurance company will payout a lumpsum amount based on the cover chosen, in case the selected insured member encounters total or partial disablement or accidental death.
Co-payment Waiver
With this add-on, the insurance company will increase the premiums and waive off the mandatory 10% co-payment.
Geographical Extension To SAARC Countries
With this add-on, the insurer will extend the base coverage for insured members to SAARC countries without charging any additional premiums. The insured member needs to make a written request to the insurer to avail of this benefit.
Restoration
With the add-on, one-time restoration up to 50% or 100% of Sum Insured is available on a partial basis for the treatment of same or different illnesses.
Waiver of Proportionate Deduction Clause
With this paid add-on, the insurer will enhance the clause of proportionate deduction of the room rent benefit by 50%.
Frequently Asked Questions
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