| 6- Specimen Premium Rates of Insurance Company's |
|
| Source: Website of The Oriental Insurance Company Limited |
|
| b) Oriental Insurance Co. Ltd. |
| Oriental insurance has made significant changes in the underwriting guidelines for Mediclaim Policy on Sep 15, 2006. The salient points of these are. |
- Premium has been reduced for lower age group and has been increased for higher age group.
- If cashless settlement option is not taken then discount of 5%
- Cumulative bonus concept has been removed but discount will be given in lieu of the same, which is favorable for the insured.
|
| The full details of the underwriting guidelines are as follows: |
- DATE OF ENFORCEMENT: This policy will be effective from 15-09-2006.
- TPA OPTION: The premium includes cashless facility through TPA. If the policy holder does not require cashless facility then 5% discount on premium may be given.
- AGE : This insurance is now available to a person between 18 to 80 years of age as under.
- PREMIUM RATES: The premium should be charged as per following scale which has modified Age band and sum insured band. The minimum sum insured is now Rs. 50,000/- and can be increased in slabs of Rs.25,000/- upto Rs. 2 lacs & by Rs.50,000/- from Rs.2 Lacs to Rs. 5 Lacs.
|
| Sum Insured |
|
Age In Years |
| |
Domiciliary |
3m- 20 |
21-35 |
36-45 |
46-55 |
56-60 |
61-70 |
Above 70 |
| 50000 |
10000 |
684 |
761 |
909 |
1421 |
2021 |
3020 |
4045 |
| 75000 |
15000 |
992 |
1102 |
1309 |
2063 |
2926 |
4366 |
5846 |
100000
125000 |
20000
23750 |
1325
1634 |
1472
1815
|
1760
2171 |
2749
3400 |
3913
4843 |
5838
7231
|
7820
9756 |
| 150000 |
27500 |
1942 |
2157 |
2579 |
4051 |
5771 |
8625 |
11691 |
175000
200000 |
31250
35000 |
2219
2496 |
2465
2773 |
2947
3316 |
4654
5258
|
6643
7514 |
9939
11256
|
13528
15369 |
| 250000 |
40000 |
2989 |
3321 |
3971 |
6373 |
9138 |
13733 |
18852 |
300000
350000 |
45000
50000 |
3483
3913 |
3870
4348 |
4626
5199 |
7488
8509 |
10765
12275 |
16211
18533
|
22335
25624 |
| 400000 |
50000 |
4345 |
4828 |
5773 |
9531 |
13783 |
20856 |
28916 |
450000
500000 |
50000
50000 |
4778
5208 |
5308
5787 |
6345
6918 |
10553
11575
|
15293
16803 |
23178
25501
|
32206
35495 |
|
| Note : (Premium - Including Service Tax 12.36%) |
- Dependent children between the age of 3 months and 21 years can be covered provided parents are covered concurrently and suitable premium is paid. If the child above 18 years is employed or if the girl child is married. He or she shall cease to be covered under the policy. However male child can be covered up to the age of 26 years. If he is a bonafide regular student and fully dependent on primary insured. Female child can be covered uptil the time, she is unmarried.
- If the insured has taken continuous Mediclaim insurance policy with Oriental for at least 5 years prior to attaining the age of 80 years the policy can be renewed beyond the age of 80 uptil the age of 90 years as a special case with the approval of Regional In charge on case to case basis.
- No inclusion of family member during currency of policy is permissible except for new born child between the age of 3 months to 6 months and newly married spouse within 60 days of marriage. Otherwise inclusion of family member shall be allowed only at
the time of renewal.
|
| Last Updated on Aug,2012 |
|
|
