National Mediclaim Policy: Key Benefits, Features Explained Here

National Mediclaim Policy: National Insurance Company provides cover against hospitalisation expenses incurred for treatment of illness or a disease.

National Mediclaim Policy: The sum insured ranges between Rs. 50,000 and Rs. 5 lakh.

National Insurance Company, a Government of India enterprise, offers various general insurance products such as motor insurance, rural insurance and commercial risk insurance. As part of its health insurance portfolio, the state-run insurer offers a host of products such as National Mediclaim Policy. National Insurance Company provides cover against hospitalisation expenses incurred for treatment of illness/disease or injury contracted/sustained by the insured person during the policy period, according to National Insurance Company’s website, nationalinsuranceindia.nic.co.in.

Here are 10 things to know about National Mediclaim Policy:

1. The policy is available to people between the age of 18 and 65 years. Dependent children between the age of 3 months and 18 years can also be covered provided at least one parent is covered at the same time, according to National Insurance Company’s website.

2. Sum insured ranges between Rs. 50,000 and 5 lakh and in multiples of Rs. 25,000 thereafter.

3. Reimbursement of hospitalisation expenses include room, boarding and nursing expenses up to 1 per cent of the sum insured per day and 2 per cent of sum insured per day for ICU, subject to an overall limit of 25 per cent of the sum insured.

4. Expenses incurred for fees of doctors and medical specialist are included subject to an overall limit of 25 per cent of the sum insured.

5. Expenses incurred on purchasing drugs, blood, oxygen, operation theatre charges, surgical appliances, X-ray, dialysis, chemotherapy, radiotherapy, etc. will be covered up to an overall limit of 50 per cent of the sum insured.

6. The policy also covers ambulance charges up to 1 per cent of the sum insured or maximum of Rs. 2,000 in the policy period.

7. The policy offers good health benefits under which a cumulative bonus at 5 per cent of sum insured for each claim free policy year is given, provided the policy is renewed without a break.

8. Cashless facility is available to insured individuals in over 6,000 hospitals across the country.

9. Premium paid for the policy towards self, spouse, dependent children and dependent parents are exempt from Income Tax under Section 80D of the Income Tax Act.

10. Dental treatment, cost of spectacles, contact lenses, hearing aid, cochlear implants etc. are not covered under the policy. Patients suffering from sexually transmitted diseases and HIV, AIDS are also not covered under the National Mediclaim Policy.