Why Should I Choose TATA AIG Health Insurance?

Tata AIG General Insurance Private Limited is an offshoot company of the Indian conglomerate Tata group which collaborated with American International group (AIG) on 22 Jan 2001 to venture into the insurance sector. Since then, Tata AIG Insurance Co. has relentlessly a strong foothold in general insurance namely Health, Personal Accidents, Home, Financial, Automotive, Real Estate Property, Agriculture, Travel, Marine etc.   

As of the financial year’s closure report filed by the company on 31st March 2023, Tata AIG General Insurance Company recorded a Gross Written Premium (GWP) at 15,423 Crores. The insurance giant boasts of 221 offices sprawled across India and has a robust end-to-end multi channel distributors’ network of around 89000+ insurance agents and brokers including its bank partners. The Tata AIG General Insurance group has been expanding its wide-ranged insurance spectrum of coverage benefits over the years through its well tailored insurance policies backed by a seamless claim reimbursement process and exceptional professional expertise. 

Why Buy Tata AIG Health Insurance Policy

As of 2018, it was reported that only 44% Indians had a health insurance cover implying that more than half of the country’s population has as of now still not availed access to the ever rising need of a well covered health plan. Highlighted below is the importance of availing a medical cover plan in contemporary times:

• Drastic Lifestyle Changes: It is a medically proven fact that sedentary and hectic working clock clubbed with high pollution levels leave a detrimental impact on one’s holistic health and securing yourself against unexpected illnesses is a wise investment option
• Economic Inflation: The ever surging inflation rate has shot up medical costs of healthcare services and treatments tremendously burning a hole in the bank of an average middle class Indian. And so, securing yourself with a comprehensive medical insurance cover at a young age is the best way to combat financial instability
• COVID-19: The global pandemic of Covid-19 engulfing the populations across the world only highlighted the exigency and caution every person must exercise towards their healthcare. Thus, availing a health insurance policy protects you from unforeseen and sudden medical challenges such as Covid-19
• Tax Exemption: A premium amount paid to purchase any health insurance policy is always exempted from tax under Income Tax Section 80D therefore, it is a judicious financial investment option while protecting you against illnesses and health conditions  

Keeping in mind all the above benefits of availing a well strategised health insurance policy, Tata AIG Health Insurance ensures the following enumerated features to its customers:

• Expanding Network Hospitals: Tata AIG group hosts more than 11000 network medical facilities around India thus, be a suburban city or a cosmopolitan hub, you can avail best of health care support and file for claim, hassle free
• Tax Savings: As explained above, premium of a health insurance policy gets deducted from tax under Section 80D of the Income Tax Act however, it should be duly noted that income tax rebate on health insurance plans are always subject to the revisions in the tax laws and therefore should be carefully studies before buying a policy
• High Claim Settlement Ratio: Tata AIG boasted of a high CSR figure in its latest disclosure report of FY23-24 as being 99% thus, proving their efficiency in providing seamless claim settlement service to their customer base
• Security And Privacy: Tata AIG guarantees promise in ensuring absolute security and privacy for the data repository of its insured customers 
• Paperless Policies: Tata AIG insurance brand facilitates digitally enabled E-documentation process during policy purchase through till filing of a claim. One has to simply provide digital copy of the policy to TPA at a network facility to reimburse their claim
• 24*7 Assistance: At Tata AIG health insurance, a round the clock customer care support service is offered to all the people who're seeking guidance regarding health policy matters   

Types Of Plans Offered By Tata AIG Health Insurance

In India there are primarily two types of health insurance plans that offer well designed medical coverage benefits for hospitalisation - Indemnity and Defined benefit.

1. Indemnity

These are the conventional type of health insurance policies which offer claim reimbursement up to the same amount as your total expense incurred on the medical treatment and services. Under Indemnity plans, following are the sub categories:  

• Mediclaim Insurance: These are Indian government sponsored health insurance policies offering Inpatient and outpatient medical support services to the insured customers. However, they do not cover for expenses related to aesthetic treatment, cosmetic surgery, eye/dental treatment but it is suggested that one reads the policy documents to understand the terms and conditions thoroughly  
• Family Floater Policy: These plans provide healthcare coverage to the entire family unit under a single floater plan. It evenly covers the insurance needs of each of the family members irrespective of their age. Their premiums are much lower as compared to individual health plans 
• Individual Health Policy: As the name suggests, this plan covers for the hospitalisation and emergency medical treatment received by an insured individual only up to the maximum limit of the sum insured amount
• Group Medical Plans: They are organisation/corporate mediclaim policies offered by an employer to its employees which also lower taxable income of the latter
• Top-Up Insurance Plans: They act as booster plans that provide top-up coverage benefits to your existing base policy once the sum insured gets exhausted during a policy year. Tata AIG offers Medicare Plus Super Top-Up Insurance health plan as one such insurance plan

2. Defined 

In these plans, the provider assures to pay a pre-decided set amount for medicare expenses borne by the insured customer without specifying any limit on the amount they will pay during a time period. They have below given sub types:

• Critical Illness Plan: Under this plan, an insurer pays a lump sum amount for treatment expenses incurred on critical diseases and conditions like cancer, multiple sclerosis, organ transplant, kidney failure etc 
• Hospital Daily Cost: Few health insurance providers offer a defined daily cash allowance for the hospitalisation expenses incurred which could be added as a coverage feature to a standard health insurance plan or as an additional rider 

Coverage under TATA AIG Health Insurance Policy

Following are some premier coverage benefits offered under the Tata AIG health insurance plan:

• No Sub-Limit On Hospital Room Rent: This feature allows you to access healthcare services rendered during your hospitalisation stay without worrying about any extra rental charges of the room
• Maternity Coverage: It begins 4 years after the initiation of your health insurance plan with Tata AIG. It offers reimbursement on maternity expenses incurred ranging from Rs 50,000 to Rs 60,000 and it covers all the pregnancies of an insured mother
• No Co-Pay: Even if you choose to get treated in a hospital room of your choice as long as the rent of it is well within the limit of your sum insured, you need not worry about any co-pays charged on the same with a Tata AIG plan
• Pre-Existing Illness Cover: Tata AIG health plans offer coverage for pre-existing diseases as well although it gets activated only after the waiting period which could be 2-5 years after you buy your health plan
• Cashless Claim Process: with a network of more than 11000 hospitals across India, an insured customer can avail cashless settlement of the expenses by prior intimation to their provider
• Tax Rebate: The premium amount paid while purchasing the health insurance policy is exempted from tax under Income Tax Section 80D thus leveraging tax benefits to your savings
• Emergency Ambulance Service: In case of an emergency requirement of paramedic transport, this coverage is taken care of by your Tata AIG health plan  

Best Tata AIG Health Insurance Plans

Some of the premier and creamiest health insurance plans offered by Tata AIG that are most sought after in the market are listed below:

• Tata AIG Medicare Premier Plan: It extends MediCare policy’s coverage benefits to offer well-rounded health cover for domiciliary care; global cover on planned hospitalisation; emergency air ambulance facility; diagnostics; OPD treatment etc. Sum insured ranges from 3 lakhs to 5 Cr in case of this policy
• Tata AIG Medicare Protect: This is a well strategised cover plan for those people who are concerned about pre, in and post-hospitalisation stay at a facility
• Aarogya Sanjeevani Health Insurance: This policy provides lifelong renewals to its customers, cashless insurance claims at more than 72000 network hospitals along with provision of an extensive coverage of pre, in and post-hospitalisation expenses

FAQs

Q1. What is claim settlement?

Ans. All claims have to be intimated 48 hrs prior to hospitalisation for planned cases and within 24 hrs for emergency admissions.  

Q2.  What does ‘settlement’ of a reimbursement mean?

Ans. While filing a claim, all supporting medical documents have to be submitted to the provider which then reviews them before a decision on the claim is undertaken by the company and it is thereafter conveyed to the insured via call or email support.