Chola MS Family Health Plan

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Chola MS Family Health

	Objective			An offline health insurance policy designed to cover a family on a floater sum insured basis where a single sum insured can be shared or utilized by any of the insured family members.
Suited for			It can cover up to two adults and three kids under a single policy.
What does it do?			Besides hospitalisation expenses, it covers pre and post hospitalisation expenses and ambulance charges and day care treatment for illnesses where overnight stay is not required. It also pays for crutches, wheelchair and other external aids if it is related to the illness for which claim has been accepted by the insurer. A pre-specified daily benefit is paid in case of hospitalisation as an inpatient and nursing care taken at home. It also offers a special reminder service known as Chola Wellness Health Alert Services (CWHAS) so that policyholders don't miss on important tasks such as payment of premium on time.
Pros			There are no sub-limits under hospitalisation benefit. It pays a no claim bonus on an annual basis. Chola Wellness Health Alert Services will prevent missing on important events. Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.
Cons			Lower maximum age of entry. It does not provide lifetime renewal option.
Our View			A health insurance policy for those looking to cover family under a single sum insured. A major drawback is that this policy can be renewed only up to 69 years of age. When the policyholder outlives maximum policy renewal term, he will have to purchase a new policy at an age where either insurers are not willing to insure a high risk life or they demand very high premiums with lots of exclusions and conditions. Policies offering lifelong renewal option must be preferred.
Eligibility
Entry Age (years)
Maximum		45
Maximum Policy Renewal Age (years)		69
Coverage Type		Family floater
Policy Term (years)		1
Sum Insured (Rs)
Maximum		5 lakh
Minimum		2 lakh
No Claim Bonus		5% of Sum Insured for each claim free year
Grace Period for Policy Renewal		15 days
Policy Termination		Insurer can terminate this policy after giving a 30 days notice. Proposer can also put off the policy by giving a 7 days notice period. If no claim has been made, insurer will return premium on a pro-rata basis
Customer Service
Address		Registered Office:Cholamandalam MS, General Insurance Company Ltd, 2nd Floor, "Dare House", No.2, NSC Bose Road, Chennai - 600001, India
Mail to		customercare@cholams.murugappa.com
Call to		044-3044 5400, 1800-200-5544 (Toll Free)
SMS		SMS "CHOLA" to 56677
Network Hospitals		Http://www.cholainsurance.com/nwhosp/

 

	Scope Of Cover
		Sum Insured (In Rs.)
		5 lakh		4 lakh		3 lakh		2 lakh
Cashless facility		available at network hospital
Reimbursement facility		available if treatment taken in an non-network hospital. Policyholder will have to bear 10% of the expenses in such a case
Pre and post hospitalisation		covered from 60 days prior to hospitalisation and upto 90 days after discharge from hospital
Inpatient hospitalisation		covered
Room rent per day		upto Rs3000		upto Rs2500		upto Rs2000		upto Rs 1500
Day Care Procedures		141 in number are covered
Emergency ambulance		covered upto Rs 1000 per policy year
External aids		covers Abdominal belts and Trusses (used post-hernia and related surgeries), Belts for prolapsed Inter-vertebral Disc, Artificial limbs, Crutches and Wheel-chair for maximum upto Rs 10000
Home nursing care allowance daily benefit		upto Rs 300		upto Rs 300		upto Rs 200		upto Rs 200
Hospital daily allowance		upto Rs 500 per day for 14 days		upto Rs 400 per day for 10 days		upto Rs 300 per day for 7 days		upto Rs 200 per day for 7 days

 

	Exclusions and Waiting Period
Pre-existing diseases		not covered upto 48 months of continuous coverage from first policy year
No claim Period		30 days from commencement of the policy
Waiting period		1 year for certain illnesses such as hernia, cataract, sinusitis etc.
Other exclusions		dental treatment, HIV/aids and related conditions

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