Skip to main content

Chola MS Top Up Healthline Plan

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

Chola MS Top Up Healthline

Objective

A top-up policy that becomes active only with medical expenses above a certain limit. It is meant to be bought as an additional policy to take care of hefty claims.

 

Suited for

This policy is more effective for those who already have a basic health insurance cover and wish to increase the protection further. Those who do not hold any health insurance policy may also go in for this policy if they can pay small medical bills that are not covered by the top-up policy. This policy is available for both individual and family on a floater basis.

 

What does it do?

It is a top up plan that gets activated only when the claim crosses the deductible limit. A deductible is that portion of claim which has to be borne either by an existing policy or by the policyholder himself. In this plan, deductible limit applies afresh each time insured person is hospitalized during the policy term. For instance, an insured accesses hospitalisation services twice during a policy term. For the first time the total medical expenses amounted to Rs 2 lakh and Rs 2.5 lakh during second hospitalisation. If the deductible limit on his policy was Rs 3 lakh, the policyholder will not receive insurance benefit of this policy as the admissible claim expenses were below the deductible limit each time. This policy offers a wide range of deductible starting from as low as Rs 30,000 up to Rs 5 lakh.
It covers hospitalisation expenses including doctor's fee, nursing, room charges up to the daily limit stated in the policy document, ICU charges, oxygen, OT charges, anesthesia and other expenses incurred as an inpatient. This plan can be bought as an individual or as a family floater policy.

 

Pros

Premiums paid under this plan qualify for deduction under Section 80D of Income Tax Act.
Policyholder can escape from hassle of paying premiums annually by selecting a higher policy term of 2 or 3 years.
It provides for lifelong renewals as there is no policy ceasing age.
There is no need to undertake pre-policy medical check up upto 55 years of entry age.

 

Cons

There is capping on room rent expenses.
Deductible applies afresh on each claim.

 

Our View

Add-on plans are not intended to duplicate the existing cover, these plans are rather meant to pay for higher claims which are beyond the reach of basic insurance plans. Instead of buying another insurance policy, a top up is recommended if your current insurance cover seems inadequate. The only constraint to this product is that threshold limit applies to every single treatment undertaken as an inpatient in a hospital. In contrast, there are certain policies in the market that cover each hospitalisation after the expenses of previous hospitalisation(s) put together exceed threshold. Such top-up policies have an edge over the policies where deductible applies on each claim.

 

Eligibility

Entry Age (years)

Minimum

18, 3 months for children

Maximum

65; 35 for dependent girl child and 25 for dependent male child

Maximum Policy Renewal Age (years)

Life long

Coverage Type

Individual/ Family floater

Policy Term (years)

1 or 2 or 3

Sum Insured (Rs)

Maximum

15 lakhs over and above deductible

Minimum

50000 over and above deductible

Pre Policy Medical Check Up

Mandatory beyond 55 years of age. 50% of medical cost will be reimbursed

Grace Period for Policy Renewal

15 days

Policy Termination

Policy may be terminated by giving a 15 days written notice by either parties. In case no claim has been made under the policy, a pre defined percentage of premium will be refunded. Insurance company will retain a part of premium for coverage provided.

Customer Service

Address

Cholamandalam MS General Insurance Company Limited
Dare House 2nd floor, No 2 N.S.C. Bose Road, Chennai 600 001

Mail to

customercare@cholams.murugappa.com

Call to

1800 200 5544

SMS

CHOLA to 56677

Network Hospitals

Http://www.cholainsurance.com/nwhosp/

 

Scope of Cover

Cahless facility

available if treatment availed in a cashless hospital

Reimbursement facility

available if treatment taken in any other non-empanelled hospital

Pre and post hospitalisation

covers pre hospitalisation for 60 days before hospitalisation upto 5% of admissible claim and post hospitalisation for 90 days upto 10% of admissible claim upto maximum of Rs 50000

Inpatient hospitalisation

covered

Room Rent

covered with sub-limits

Emegency ambulance

covered upto Rs 3000 per hospitalisation

 

Exclusions and Waiting Period

Pre existing diseases

will be covered after a period of 4 years of continuous renewal.

No claim period

30 days starting from the inception of the policy

Waiting Period

certain diseases such as cataract, hernia piles etc will be covered after first policy year has elapsed. Other diseases such as hypertension, diabetes, varicose veins etc. will be covered after a waiting period of 2 years.

General Exclusions

Expenses towards out patient treatmentCost of organ transplantDomiciliary treatmentPlastic Surgery, slimming or any other beauty related treatments.All diseases or conditions caused by or related to HIV or AIDS.Naturopathy and non allopathic treatment.Any condition arising due to involvement in any illegal or criminal activity

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

Rs 14,000 Crore worth of tax free bonds coming soon from NHAI , PFC

  NHAI, PFC file prospectuses, coupon rate not yet decided MORE debt investment options have opened up for investors with AAA rated tax-free bonds worth over Rs 14,000 crore lined up. The National Highway Authority of India ( NHAI ) and Power Finance Corporation ( PFC ) are offering Rs 10,000 crore and Rs 4,033.13 crore worth of tax-free bonds, respectively, as per prospectuses filed with the Securities and Exchange Board of India (Sebi). Of a Rs 5,000 crore issue by PFC, Rs 966.87 crore has already been raised through private placement on September 28 and November 1. Tax-free bonds give investors tax-free return on any amount invested. In another kind of bonds, the long-term infrastructure bonds, investments up to Rs 20,000 are tax exempt, that is this cap amount can be deducted from the taxable income. Accordingly, the NHAI prospectus has clarified that only the amount of interest from -and not the actual investment on -its new bonds will be tax-free. "NHAI's publ...
Read more

Change in Fund Manager for some of HSBC Mutual Fund Schemes

Buy Gold Mutual Funds Invest Mutual Funds Online Download Mutual Fund Application Forms Call 0 94 8300 8300 (India) However, this facility is only available to Unit holders who have been assigned a folio number by the AMC.   HSBC Mutual Fund has announced that the below mentioned schemes shall be managed by the new fund managers as stated in the table. The effective date will be July 02, 2012.   Amaresh Mishra 's will be Vice President and Assistant Fund Manager. Having done a Post graduate diploma in Business Management and Bachelor of Chemical Engineering, he has over seven years of experience in Equities and Sales.   Mr. Piyush Harlalka's designation shall be Vice President- Fixed Income. Qualified as a C.A., C.S. and holding M.B.A.( Finance degree), he has over six years of experience in Fund management and ...
Read more

How EEE and EET Tax affect Retirement Investments

  An important factor while choosing a financial product is its taxation , and for retirement savings, this is even more important as the sums involved are usually life-long savings. Here's a look at the current tax treatment of three major long-term retirement planning products, which are - Employees' Provident Fund (EPF), Public Provident Fund (PPF) and National Pension System (NPS). EPF The tax treatment is EEE, which means your money is exempt from taxes at the time of investment, accumulation and withdrawal. At the time of investment, the tax deduction is under the limit of section 80C of the Income-tax Act , which is currently Rs 1.5 lakh. Partial withdrawals are also tax-free if made after 5 years of continuous service. If withdrawals are made before 5 years of service, 10% tax will be deducted at source. Exceptions have also been provided for transfer of amount and conditions wherein the subscriber is unemployed for more than 2 months or the loss of job was beyond th...
Read more

Personal Finance: You can insure your wedding

But luck may not always be on your side. With the frequency of such attacks, as also other risks and unforeseen accidents growing, a wedding insurance is something you may want to look at if a marriage is being planned in the family. Event insurance plans like this is still in its nascent stages due to low awareness. And given the sacred nature of the ritual, nobody wants to discuss or think negative. But as wedding spends and risks grow, it makes sense to cover the potential monetary loss. The policy in those countries even covers the loss of the wedding ring, the wedding gown not reaching on time and even the expenses/loss due to late or non-appearance of the photographer which may mean staging the event once again for the photograph. In India, most insurance companies — including ICICI Lombard General Insurance, Oriental Insurance, Bajaj Allianz and National Insurance — offer wedding insurance. The policy is tailor made to individual requirements and needs. The sum insur...
Read more

DSP BlackRock MidCap Fund

Best SIP Funds Online   HOW HAS DSP BlackRock Small & Mid Cap Fund PERFORMED? With a 10-year return of 14.61%, the fund has outperformed both the category average (12.34%) and the benchmark (10%) by a good margin. Should you invest in DSP BlackRock Small & Mid Cap Fund? This fund invests predominantly in mid-cap stocks but takes a sizeable exposure in small-caps as well. The focus is on nascent companies with high growth potential. The fund manager places emphasis on quality and avoids inferior businesses even if these look tempting from a valuation perspective. Over the past year, the fund portfolio has grown, having added to some of the underperforming sectors like chemicals and healthcare. Its portfolio churn has come down significantly. The heavily diversified portfolio is run completely agnostic of its benchmark index— most bets are from outside the index—which can at times lead to bouts of underperformance as seen in the recent years....
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