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Bajaj Allianz Family Floater Health Guard
Review of Bajaj Allianz Family Floater Health Guard Policy
This is a basic health insurance policy which covers the medical expenses incurred by any of the insured family members in case of hospitalisation due to an injury or accident.
Our Advice – Health Insurance unlike motor insurance is not compulsory by law but still people are increasingly covering themselves and their families with different kinds of mediclaim and health insurance plans. This is largely because they want to combat the rising costs of medical treatment and health care. It is important that each one realizes the importance of medical insurance and covers his/her family appropriately.
Key Features of Bajaj Allianz Family Floater Health Guard Policy
No medical tests required if the Sum Insured is up to Rs.10 lacs and for age up to 45 yrs
Can be renewed till the age of 80 years
Medical check up is mandatory for members whose age is over 46 yrs and the entire cost of check-up is refunded by Bajaj Allianz on policy issuance
No sub-limits on hospitalisation expenses and room rent
Cashless facility is available at all empanelled hospitals. If the customer opts for hospitals other than the ones on panel, then the claim expenses shall be reimbursed within 14 working days from submission of all documents
Type of plans available in Bajaj Allianz Family Floater Health Guard Policy
The plan is available in both types -
What is covered in Bajaj Allianz Family Floater Health Guard Policy?
Hospital room accommodation – on a shared basis
130 Day care procedures which do not require 24 hr hospitalisation are covered
Policy covers for expenses incurred on emergency ambulance up to Rs. 1000
Additional Benefits of Bajaj Allianz Family Floater Health Guard Policy
Free health check-up in Bajaj Allianz diagnostic centers on 4 continuous policy renewals or Rs.1000 reimbursement on check-up
Premium paid is eligible for Income tax benefit under section 80 D
Children aged 3 months to 25 yrs are eligible if both the parents are insured
Eligibility and Restrictions of Bajaj Allianz Family Floater Health Guard Policy
Coverage Amount (in Rs.)
Policy Term (in years)
Entry Age (in years)
Renewable till Age (in years)
Family floater policy will cover
An individual and/or his spouse
In case of individuals the premiums paid up to Rs.15000 towards Health Insurance will be exempted from taxable income and Rs 20,000 for senior citizens is allowed as a deduction from the taxable income each year under section 80D of the Income Tax Act.
Exclusions - What is not covered in Bajaj Allianz Family Floater Health Guard Policy?
10% co-payment has to be paid by policyholder incase treatment is done from hospital other than the insurers empanelled list. Waiver on co-payment is available only if additional premium is paid by the policy holder
20% co-payment needs to be paid by persons above 56 yrs of age
All diseases existing at the time of taking the policy
Pre-existing conditions for first 4 yrs
Waiting period of 2 yrs for certain diseases like sinusitis, cataract, hernia, piles etc
Any treatments done within the first 30 days from the date of policy issuance
HIV, AIDS and related diseases
Non-allopathic treatment, congenital diseases (existing at birth), cosmetic treatments
Joint replacement surgery
Abuse of drugs, alcohol, hallucinogens, intoxicant