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Sunday, 7 May 2017

what is bajaj allianz health insurance for everyone


Bajaj Allianz is the joint venture between Bajaj Finserv Limited and european financial services company Allianz SE. The organisation offers insurance products for financial planning and security by incorporating and the technical expertise and experience of Allianz SE with the market knowledge and goodwill of the Bajaj brand in India. Bajaj Allianz Life Insurance meets its customers needs by offering a wide variety of products and ranging from ULIPs and child plans to group and health insurance. By combining global expertise with local experience, the company provides clients with customized products and transparent benefits, catering to every segment and age-income profiles. Bajaj Allianz General Insurance Company Limited is one of India’s most trusted and preferred insurance vendor. The company is a joint venture between Bajaj Finserv Limited and Allianz SE, two companies and that have garnered a solid reputation for domain expertise, professional business practices, stability and foresight. Bajaj is a commonly known brand in India, while Allianz SE is a globally known entity that is commended for its technical expertise and path breaking initiatives. In the very short duration that Bajaj Allianz Life Insurance has been a part of the health insurance scene in India, it has earned a staunch fan following, alongside the title of a market leader and preferred health insurance option amongst the discerning local customer base.

    what is Bajaj Allianz Health Insurance

    1. What is the difference between health insurance and life insurance?
    2. Life insurance involves providing monetary support to a deceased insured’s family. Also, under certain plans, the policy holder gets a payout on survival till the maturity of the policy. Health insurance, on the other hand, covers expenses in case of hospitalization for treatment of health issues suffered by the customer. The customer doesn’t get any payout at maturity of the policy. Also, health insurance policies have to be renewed annually.
    3. I already have an employer-sponsored health cover. Should I get my own policy?
    4. Private policies are important as job sponsored policies tend to lack continuity. If you change jobs, you will be exposed to risk during the transition period, and there’s the chance that your new employer won’t provide health insurance coverage. Also, as you switch jobs, your insurer will most likely change, and whatever track record you had built will be lost, if in case health insurance portability in not an option.
      Employer sponsored covers offer limited coverage, while having your own policy allows you to cover not only yourself but your family as well. Also, riders can be opted for to enhance protection if employee group schemes do not provide comprehensive coverage.
    5. What is the importance of a pre-policy medical checkup?
    6. For all customers above 45 years (lower limit may change depending on provider and plan) medical checkups are important to gauge the previous health issues suffered by customers so that they are provided coverage accordingly, implying that they may have to pay more premium when suffering some pre-existing diseases. For policy renewals medical checks are generally not required.
    7. What is the general term for health insurance policies?
    8. In general, health insurance policies are provided for 1 year time period (including Bajaj Allianz), though some firms also provide 2 year policies.
    9. What do you mean by coverage amount or sum insured?
    10. Also known as “sum assured” or “sum insured”, the final claim amount to be paid out is the coverage amount. Premiums vary according to sum assured.
    11. What if family members are staying in different places and want to be covered under the same policy?
    12. Health insurance policies are applicable throughout India. In general, it is advisable to get insured in a place where there are network hospitals of the provider. This helps in getting cashless treatments at designated facilities. In case there are no network hospitals in your area, reimbursements are provided in due time.
    13. Are MRI, X-ray and other diagnostic charges covered by health insurance policies from Bajaj Allianz?
    14. All types of diagnostic tests are covered under your health insurance policy, as long as the costs are related to hospitalization of not less than 1 night. OPD prescribed diagnostic tests are usually not covered.
    15. What is Cashless Hospitalization?
    16. Cashless Hospitalization refers to the cashless settlement of hospitalization expenses, which are adjusted by a network hospital of Bajaj Allianz on the basis of the insurance policy without any cash being paid by the policyholder.
      The settlements are done by authorized Third Party Administrators (TPA). Prior approvals are a must, except for cases of emergency where post approvals can be done.
    17. Is there a limit on number of health insurance policies for an individual?
    18. There is no limit the  number of health insurance policies a person can take out. An individual may have two health insurance policies from different providers, and in case of hospitalization the overall costs will be split between them.
    19. Is it possible to avail health insurance from Bajaj Allianz if I am not an Indian citizen but am staying in the country?
    20. Yes, foreigners are in allowed to avail health insurance policies from Bajaj Allianz with coverage limited to India.