Key Benefits | Flexible Premium Payment options |
Flexible Sum Insured options: Rs. 1/ 2 / 3 / 5 / 7.5 / 10 / 15 / 20 / 25 Lakhs | |
Location based premium rating | |
Coverage on Individual and Family floater basis | |
Sum Insured Restoration up to 100% | |
Recharge Benefit | |
Additional Sum Insured for Road Traffic Accidents | |
Daily Cash Benefit for accompanying person expenses | |
Waiting period of only 36 months for Pre-existing conditions/Disease | |
Tax Exemption under Section 80D of Income Tax Act | |
Cashless facility at over 8100+ network hospitals | |
No Third Party Administrator. Direct Claim settlement | |
Lifelong Renewability | |
Policy Term | One/Two/Three Years |
Tenure based discount | |
Policy Term | Long Term Discount for Single Premium payment |
2 Year | 5.00% |
3 Year | 10.00% |
Premium Payment: | |
Easy Premium payment options to customer | Single Premium payment prior to commencement date of cover |
Monthly Payment Mode | |
Quarterly Payment Mode | |
Half-Yearly Payment Mode | |
Annual Payment Mode | |
Pre Policy Health Check up | Applicable for persons above 50 years of age |
Entry Age | Adult – 18 to 65 Years |
Children – 03 months to 26 years | |
Premium based on Location | Tier 1 Locations: Mumbai, Chennai, Bengaluru, Kolkotta, New Delhi, Gurgaon, Hyderabad, Ahmedabad |
Tier 2 Locations: Rest of India excluding Tier 1 Locations | |
Coverage Options | |
Individual Cover | Insured can avail cover for all family members (Self, Spouse, Children, Parents, Parents in Laws and Siblings) on Individual Sum Insured Basis. |
Each covered person will have an independent Sum Insured limit within the same policy. | |
Family Floater Cover | Self, Spouse and Children upto a maximum of 6 members can be covered on Family Floater basis. |
Single Sum insured floats among the family members covered under the policy. | |
Coverage of Self is mandatory |
Flexi Health is a health insurance policy that protects one at the time of hospitalization following an accident or sickness. It’s a newly launched health insurance policy with standard features which is to be offered by all health insurance companies in India starting from 1st April, 2020 onwards.
Yes, under the Family Floater variance of the Flexi Health Policy, one can get coverage for themselves, their legally wedded spouse, dependent children, parents, parents in laws. One can also choose to buy individual policies for each of these family members. Note that any children who are above 18 yrs and financially independent will not be eligible for family floater coverage.
The sum insured options available under the Flexi Health plan range from ₹1 lac to ₹5 lacs with multiples of ₹50,000.
Yes, this plan covers treatment related to Coronavirus, subject to the expenses not being incurred during the initial waiting period under the policy.
All day care treatments are covered under this plan.
No, while the IRDAI has allowed the insurance companies the flexibility to charge premium according to it’s portfolio and claims experience, the premium charged will however be the same for the insurance companies across India.
Flexi Health policy comes with a policy term of one year only, but renewable on a lifetime basis.
Yes, even NRIs (Non-Resident Indians) can buy Flexi Health policy. Although the customer needs to be in India at the time of policy buying and should pay the premium in Indian currency through an Indian bank account. Importantly, expenses incurred only for treatment in India will be paid under this policy.
Yes. You can port your existing health insurance policy into Flexi Health.
The Flexi Health policy comes with a co-pay of 5%, which means that at the time of claim settlement, the insured will need to pay 5% of the claims amount towards the settlement. This is irrespective of the age of the insured.
Flexi Health policy also provides a bonus of 5% on the total sum insured amount for every claim-free year that is passed by the insured, and this is accumulated upto a maximum of 50% of the sum insured as a bonus.
Review Cholamandalam Flexi Health Policy brochure to understand coverage details.
Review Cholamandalam Flexi Health Policy wordings which explains the terms and conditions.
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