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L&T General Insurance - my:Health Medisure Prime Insurance

L&T General Insurance has recently launched a health insurance plan called the my:Health Medisure Prime Insurance.

 
One of the key features of the plan is its zone-based differential pricing. Policyholders can opt to pay premiums applicable to three zones – I (Mumbai, Thane, Delhi, NCR, etc), II (Chennai, Hyderabad, Bangalore, Pune and so on) and III (Rest of India).

Policyholders in zone III will be charged a lower premium compared with those in zone II. Premium in zone II will be cheaper than in zone I. If a zone III policyholder opts for treatment in the other two zones, he/she will have to bear a part of the expenses, which ranges from 10-20% of the approved claim, depending on the zone of treatment. Those choosing zone I premium, however, can opt for treatment across India without making the co-payment.
The product also promises double the sum insured for listed critical illnesses, once-in-12-months replenishment of cover in the event of second hospitalisation in a year due to accident, maternity and new-born cover (subject to limits within the sum insured) and lumpsum hand-out in the case of hospitalisation exceeding 10 continuous days.

Also, barring maternity, there are no sub-limits for, say, operation theatre charges or room rent under the policy. The product also offers a two-year renewal period and no-claim bonus that increases your sum insured by 5% every year, subject to a maximum of 50% of your sum insured.
Available in both family floater and individual versions, the policy promises life-long renewal and medical check-ups after every two consecutive renewals once the policyholder turns 45. Those over 45 at entry need to undergo medical tests before buying the policy.

Unlike most health policies that come with sublimits on room rent, consultation fee, etc, this policy pays out the entire amount, subject to the overall sum assured. Differential zone-based pricing will mean lower premiums for policyholders in smaller cities

If the policyholder opting for a zone III (and, hence, lower) premium has to go for treatment in zone I or II, he/she will have to bear a part of the expenses. Those over 70 will have to share 25% of the claim, irrespective of the zone.
 

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