Skip to main content

Chola MS Family Healthline - Superior Plan

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

Chola MS Family Healthline- Superior

Objective

An online health insurance policy that aims to cover a family of up to two adults and three children under a single policy for a maximum sum insured of 10 lakh.

 

Suited for

It is suitable for a young and growing family.

 

What does it do?

This is the second variant of Family Healthline policy. It offers a family floater cover which means the Sum Insured can be utilized by any of the insured members. It covers hospitalisation expenses for treatment taken as an inpatient, day care procedures, emergency ambulance, pre and post hospitalisation expenses and also provides a daily cash amount for choosing shared accommodation. In addition to these benefits, the policy pays for domiciliary treatment i.e, treatment taken at home, maternity expenses and a daily cash amount in event of an insured minor being hospitalized. This policy comes with a co-payment clause whereby, policyholder will need to pay 10 per cent of admissible claim each time except in case of treatments which already contain a co-pay clause specific to them. Co-pay clause can be waived by paying additional premium. Policyholder may also avail reminder or alert facility known as Chola Wellness Health Alert Services (CWHAS) from insurer by paying an additional premium.

 

Pros

It pays a bonus for every claim-free year on an annual basis.
It allows lifelong renewal.
Chola Wellness Health Alert Services will prevent missing on important events.
It provides an option to waive off the co-payment clause.
It is available online for purchase.
Policy premium qualifies for taxation benefit under section 80D of Income Tax Act.

 

Cons

The co-payment clause requires policyholder to pay 10 per cent of the admissible claim.
There is a cap on room rent, boarding and nursing expenses.
No-claim bonus will be reversed by 10 per cent in the event of any claim.

 

Our View

Co-pay clause acts as a limitation. Check the additional premium amount required to waive the co-pay clause. Otherwise look for a policy without co-pay clause. There are sub-limits on room rent and boarding expenses. If you are young and healthy, there are many policies available in the market without such clause.

 

Eligibility

Entry Age (years)

Minimum

18; 3 Months for Children

Maximum

65; 35 for Children

Maximum Policy Renewal Age (years)

Lifetime renewal

Coverage Type

Family floater

Policy Term (years)

1

Sum Insured (Rs)

Maximum

10 lakh

Minimum

4 lakh

No Claim Bonus

5% of Sum Insured for each claim free year

Pre Policy Medical Check Up

Not required upto 55 years of age

Grace Period for Policy Renewal

15 days

Co Payment Clause

Policyholder has to bear 10% of the admissible claim amount

Policy Termination

Either of insurerd or policyholder may terminate this policy by giving a notice period of 15 days. 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

Cashless facility

available if treated at network hospital

Reimbursement facility

available if treatment taken in an non-network hospital

Pre and post hospitalisation

covered from 60 days prior to hospitalisation and upto 90 days after discharge from hospital

Inpatient hospitalisation

covered

Room, boarding and nursing expenses

upto 1% of Sum Insured

Day Care Procedures

141 in number are covered

Daily cash for choosing shared accommodation

Rs 500 per day for upto 7 days with 1 day deductible

General health check-up & eye examination

0.75% of Sum Insured per family

Emergency ambulance

2000

Home hospitalization

upto 15% of Sum Insured maximum of Rs 70000

Maternity expenses

Rs 15000 for normal delivery and Rs 25000 for caesarean

Minor accompaniment daily cash

Rs 250 per day for max 7 days with 1 day deductible

 

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

5 years for maternity benefits3 years for OPD dental expenses3 years for external aid benefitscataract, hernia, sinusitis and certain other illnesses will be covered after 1 yearCertain other illnesses such as cysts, internal tumours, surgery of varicose veins and varicose ulcers etc. will be covered after 2 years

General Exclusions

Naturopathy Cosmetic, beauty or slimming treatment.AIDS or any related illnessTreatment of any mental or related disease

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFunds Invest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

Popular posts from this blog

All about "Derivatives"

What are derivatives? Derivatives are financial instruments, which as the name suggests, derive their value from another asset — called the underlying. What are the typical underlying assets? Any asset, whose price is dynamic, probably has a derivative contract today. The most popular ones being stocks, indices, precious metals, commodities, agro products, currencies, etc. Why were they invented? In an increasingly dynamic world, prices of virtually all assets keep changing, thereby exposing participants to price risks. Hence, derivatives were invented to negate these price fluctuations. For example, a wheat farmer expects to sell his crop at the current price of Rs 10/kg and make profits of Rs 2/kg. But, by the time his crop is ready, the price of wheat may have gone down to Rs 5/kg, making him sell his crop at a loss of Rs 3/kg. In order to avoid this, he may enter into a forward contract, agreeing to sell wheat at Rs 10/ kg, right at the outset. So, even if the price of wheat falls ...
Read more

Zero Coupon Bonds or discount bond or deep discount bond

A ZERO-COUPON bond (also called a discount bond or deep discount bond ) is a bond bought at a price lower than its face value with the face value repaid at the time of maturity.   There is no coupon or interim payments, hence the term zero-coupon bond. Investors earn return from the compounded interest all paid at maturity plus the difference between the discounted price of the bond and its par (or redemption) value. In contrast, an investor who has a regular bond receives income from coupon payments, which are usually made semi-annually. The investor also receives the principal or face value of the investment when the bond matures. Zero-coupon bonds may be long or short-term investments.   Long term zero coupon maturity dates typically start at 10 years. The bonds can be held until maturity or sold on secondary bond markets.
Read more

Mutual Fund MIPs can give better returns than Post Office MIS

Post Office MIS vs  Mutual Fund MIPs   Post office Monthly Income Scheme has for long been a favourite with investors who want regular monthly income from their investments. They offer risk free 8.5% returns and are especially preferred by conservative investors, like retirees who need regular monthly income from their investments. However, top performing mutual fund monthly income plans (MIPs) have beaten Post Office Monthly Income Scheme (MIS), in terms of annualized returns over the last 5 years, by investing a small part of the corpus in equities which can give higher returns than fixed income investments. The value proposition of the mutual fund aggressive MIPs is that, the interest from debt investment is supplemented by an additional boost to equity returns. Please see the chart below for five year annualized returns from Post office MIS and top performing mutual fund MIPs, monthly d...
Read more

Benefits Of Repo Rate & CRR Rate Cut On Consumers

  How Reduction In Repo Rate & CRR Affects Customers Finally  RBI announced slashing of repo rate by 25 basis points (bps ) and cash reserve ratio (CRR) by 25 bps which industry experts believe will fuel the economic growth to some extent. Although experts were expecting higher rate cut this year. This lowering of the rate cuts has taken place for the first time in nine months. Now let's see how reducing the repo rate (defined in economic term as the rate at which RBI lends money to the banks) relates to the following individuals and sectors: Banking:   Lowering of repo rate directly reduces borrowing costs of a bank. Banks in turn reduces interest rates on different types of loans such as home, auto, business etc. Similarly trimming down of CRR allows banks to unlock money for lending to the customers i.e. with 0.25 rate cut banks are estimated to lend more than INR. 17 Crores. Consumers:   Lower repo rate does not necessarily benefit existing loan borrowers but new loan se...
Read more

NRI Corner: The process of remittances abroad

The process of remittances abroad, and back, is cumbersome. Here’s how you can wade through without hassles Approach The Right Place Outward remittances or the process of sending money abroad is governed by many regulations. In India, outward remittances are made mainly through banks. At the outset, you need to remember that you just cannot trust any individual or a financial firm with the responsibility of sending your money. Experts recommend that you should always try to choose a bank with an international footprint, which will make your job easier. Choose Mode Of Transfer The next step is to choose the mode of transfer. One option is to get a Foreign Currency Demand Draft ( FCDD ). This draft will be denominated in foreign currency and should be drawn in favour of the recipient/ beneficiary. The beneficiary does not necessarily need to have an account with the same bank. The other option is to send money via wire transfer. Do not be puzzled if the bank official uses the word SWIFT ...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now