4- Salient Points of Various Products of Insurance Companies |
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Reliance General Insurance company Ltd |
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- Family Floater policy is available.
- Not keen on Group Health product.
- Child born is covered upto 90 days.
- OPD & dental treatment can be covered.
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Royal Sundaram Alliance Insurance company Ltd |
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- Simple proposal form
- Generally do not issue policy for individuals on stand-alone basis.
- Hospital list is small.
- No claim bonus at 20% in comparison to 5% of others.
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Star Health & Allied |
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- First Health Insurance Company of the country has highest portfolio.
- Has introduced various products
- Is issuing policy to Senior Citizens without medical test. However those submitting medical tests get 10% discount. Copayment for senior citizen varying from 30% to 50%.
- Not using TPA - which means in-house settlement of claims. Has introduced concept of Co Pay. Limit 30% to 50% for Senior Citizens.
- Special product for Senior Citizens with higher premium.
- Micro Insurance concept for low income group
- Product for persons having chronic disease
- Attractive rate for those who are under 40 year.
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United India Insurance Company Ltd |
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- Discouraging issue of policy to age 60+
- Getting insurance policies and ID cards may take longer time than what is taken by some private Co.’s
- Single AC private room only in single PSU.
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