Bajaj Allianz Star Package - Family Floater Health Insurance

Invest In Tax Saving Mutual Funds Online

Download Tax Saving Mutual Fund Application Forms

Buy Gold Mutual Funds

Call 0 94 8300 8300 (India)

 

Bajaj Allianz Star Package- Family Floater Health Insurance

	Objective			A special policy with an aim to provide a customised insurance plan depending on needs of a person.
Suited for			This policy can be bought as an individual cover or as a family floater cover. It is more suitable for those looking to buy multiple policies for different conditions.
What does it do?			This plan gives you freedom to customise the policy as per your needs. It offers eight standalone policy benefits under one policy. Each policy benefit is defined as a Section which has its own exclusions as well. It is upto the proposer to select any of the sections depending on his needs. A minimum of three sections are mandatory to select. For instance, you may select three sections- health guard (covering inpatient treatment and related expenses), critical illness and personal accident section. The policy will charge premiums based on the sections opted. This single policy can become a comprehensive package if customised in a manner.
Pros			No sub-limit on room rent and other expenses. Higher policy terms of two and three years provide relief from renewal process on an annual basis. It offers discount on selecting four or more sections. It saves policyholder from task of managing multiple policies. Premium paid under this policy will enjoy tax benefits under Section 80D.
Cons			The policy cannot be renewed throughout lifetime. There is a co-payment clause which means 10 per cent of the admissible claim amount will have to be borne by the insured member if treated in non-network hospital. Individuals between age 50 and 60 years entering the policy for the first time have to bear 20 per cent of the admissible claim amount.
Our View			An all-in-one plan which can be bought by those looking to purchase different policies covering against different conditions. Before buying evaluate your needs first to include all the required sections at once. A special advice is while filling proposal form for burglary or fire insurance (household contents), mention the details of all valuables that cost more than Rs 5,000 separately to enjoy an uninterrupted cover.
Eligibility
Entry Age (years)
Minimum		18; 3 months for children
Maximum		60; 25 for children
Maximum Policy Renewal Age (years)		60 for Hospital Cash benefit; 80 years for Health guard; 60 years for Critical Illness benefit; 65 for Education grant
Coverage Type		Individual/ family floater
Policy Term (years)		1 or 2 or 3
Sum Insured (Rs)
Maximum		Hospital Cash(per day basis) 2500 Health Guard 5 lakh Critical Illness 3 lakh Personal Accident 5 lakh Education Grant 5 lakh Burglary/ Fire Insurance(Household Contents only) 4 lakh Traveling Baggage 40000 Public Liability 5 lakh
Minimum		Hospital Cash(per day basis) 500/1000/2000 Health Guard 1.5 lakh/ 2 lakh/ 3 lakh Critical Illness 1 lakh/ 1.5 lakh/ 2 lakh Personal Accident 2 lakh/ 3 lakh/ 4 lakh Education Grant 2 lakh/ 3 lakh/ 4 lakh Burglary/ Fire Insurance(Household Contents only) 1 lakh/ 2 lakh/ 3 lakh Traveling Baggage 10000/20000/30000 Public Liability 2 lakh/ 3 lakh/ 4 lakh
Tax Benefit		Premium paid is eligible for tax benefit under section 80D of the Income Tax Act
Discount		Section Discount on selecting more than 3 sections. 4-5 sections: 10% discount 6-8 sections: 15% 10% discount on selecting a 2 years policy term and 15% discount on selecting a 3 years policy term
No Claim Bonus		Health guard: 5% on each claim free year; maximum upto 50%. Applicable on Sum Insured of Rs 2 lakh and above.
Grace Period for Policy Renewal		15 days for Health Guard cover
Policy Termination		Both insurance company and Policyholder are allowed to terminate the policy at anytime by giving a 14 day written notice. The insurer will refund premium on pro rata basis depending upon policy period elapsed.
Customer Service
Address		Bajaj Allianz General Insurance Company Limited. GE Plaza, Airport Road, Yerawad, Pune - 411006
Mail to		customercare@bajajallianz.co.in
Call to		1800 22 5858(BSNL/ MTNL); 1800 209 5858 (Any mobile/ landline) or 020 30305858

 

	Scope of Cover
		Cashless facility		Available at empanelled hospitals in India
		Re-imbursement		In case policyholder opts for non empanelled hospital with a Co-payment clause of 10%
Minimum three sections (any) are mandatory
Section I		Hospital Cash
		Daily Cash Amount		Covered; maximum of 30 days (including ICU treatment) per policy period regardless of number of confinements to the hospital.
		ICU Benefit		Covered; double the daily cash amount for a maximum of 7 days per policy period
Section II		Health Guard
		In patient treatment		Covered
		Pre-post hospitalisation		Relevant medical expenses covered from 60 days prior and 90 days post hospitalisation
		Day Care Procedures		130 day care procedures are covered
		Add on Coverage (requires payment of extra premium)
		Ambulance Expenses		Covered; upto maximum of Rs 1000 per valid hospitalisation
		Accommodation to Relative		Rs 500 per day for 10 days
		Organ transplant expenses of donor		Covered upto Rs 1 lakh
		Accidental Emergency, reconstructive Surgery (in case of accident), Physiotherapy, Medical evacuation		covered upto Rs 50000
		Burial, Cremation Expenses		Covered; Rs 25000
		Medical expenses for accidental hospitalisation		Covered; twice the Health Guard Sum Insured
		Free medical checkup		Covered; after 4 claim free years
Section III		Critical Illness		Covered; pays a lump sum amount provided insured person survives 30 days after confirm diagnosis of critical illness. It covers critical illnesses namely: First Heart Attack, Coronary Artery Disease Requiring Surgery, Cancer, Kidney Failure (End-stage renal disease), Major Organ Transplantation, Multiple Sclerosis, Surgery of Aorta, Primary Pulmonary Arterial Hypertension, Paralysis, Neuron Surgery and joint replacement
Section IV		Personal Accident
		Accidental death		Covered; 100% of Sum Insured
		Cost of transporting remains from hospital to cremation ground/ residence		Covered; 2% of Sum Insured or Rs 5000, whichever is lower
		Permanent Total disability		Covered; 125% of Sum Insured
		Permanent Partial Disability		Covered; pays predefined percentage of sum insured
		Temporary Total Disability		Weekly payment of 1% of the Sum Insured maximum upto 100 weeks
		Medical Expenses		reimburses upto 40% of the admissible claim
Section V		Education Grant		payable in case of Accidental Death and Permanent Total Disability for continuing education of children
Section VI		Burglary and Fire
		Standard Fire Policy(including earthquake) and burglary for household contents only		covers loss or damage to household property.Covered on the first loss basis @ 25% of the value at risk. Items with value more than 5% of Sum Insured have to be specially disclosed in the proposal form.
Section VII		Traveling Baggage
		Loss, damage or theft of baggage while traveling anywhere in the world		Covered
Section VIII		Public Liability
		Bodily injury or damage to property of third party		Covered

 

	Exclusions and Waiting Period
		Hospital Cash		Pre-existing diseases and related complications.Hospitalisation within 30 days from the commencement of policy.Certain diseases will be covered from second year and onwards.Pregnancy/ childbirth Surgery/ dentalNatural perilsAccidents due to drunken driving
		Health Guard		Pre-existing diseases will be covered after waiting period of 4 years.Some diseases such as hernia, piles, sinusitis, cataract shall be covered after a waiting period of 2 years.Medical expenses for treatment of any disease or illness diagnosed within 30 days of commencement of policy.dental/ spectacles/ contact lenses or hearing aids.non allopathic medicine, congenital diseases, all expenses arising from AIDS, cosmetic, aesthetic, intoxicating drugs/ alcohol, joint replacement surgery(unless caused by an accident)
		Critical Illness Policy		Pre existing critical illnessAny illness diagnosed during first 90 days from commencement date of the policy.
		Personal Accident & Education Grant		Suicide, self-inflicted injury, pre-existing physical or mental defects, alcoholic, influence of drugs, AIDS or related diseases etc.
		Traveling Baggage		Theft from car except from fully enclosed saloon cars having all the doors, windows and other opening securely locked, loss or damage to jeweler or valuables.Loss by any carrier under contract and Loss to money securities, gold and silver ornaments, travel tickets, cheque, draft, jeweler, share certificates and articles of consumable nature
		Public Liability		Arising out of deliberate or willful or International noncompliance with any statutory provisions, connected with fines, penalties, in connection with any motor vehicles, watercraft, hovercraft or spacecraft
		Co Payment Clause		Health Guard: Individuals between age group 56-60 years taking the policy for the first time have to bear 20% of the admissible expenses. further in case of treatment in a non empanelled hospital, 10% of admissible claim has to be borne by policyholder

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
2. 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
3. Small and MicroCap Funds Invest Online

1. DSP BlackRock MicroCap Fund
4. Sector Funds Invest Online

1. Reliance Banking Fund
2. Reliance Banking Fund
5. 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
6. Gold Mutual Funds Invest Online

1. Relaince Gold Savings Fund
2. ICICI Prudential Regular Gold Savings Fund
3. HDFC Gold Fund