Marsh Product Details

Parental Health Insurance

Bajaj Allianz Extra Care Plus

Introduced by Bajaj Allianz health insurance, Extra Care Plus is a Super Top Up scheme that provides you with an additional health cover over and above an existing health insurance. Let us call the existing cover as Plan A. You may need Extra care Plus because the Plan A cover is not sufficient to take care of the rapidly increasing medical costs or because your family is growing and you need additional cover. Extra Care Plus comes into action once you exhaust your Plan A cover which is also known as “Aggregate Deductible” or just “Deductible”.

Who should buy Extra Care Plus policy? You should buy or not

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Individual

If you are an individual looking for additional health cover for either you or your entire family with your base health cover been taken care of

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Corporate Employee

If you are corporate employee looking to enhance your company provided health cover

How does Extra Care Plus policy work? How does it work

Zoya's company-provided health insurance cover is Rs 2 Lakh. She is looking for additional health cover, cover the medical needs of her family of 3.

Zoya buys an Extra Care Plus cover of Rs 10 lakh with deductible of 2 Lakhs,
now she has :

- Rs 2 lakh (company health insurance plan)
- Additional Coverage: Rs 10 lakh (Extra Care Plus cover)

In case of a medical emergency, if Zoya’s medical bill is Rs 5 Lakh, the first 2 Lakh will be covered by her company policy and the rest 3 Lakh will be covered by Extra Care Plus,

Note : Extra Care plus will only cover the costs remaining after you have taken care of the deductible amount, either through a base insurance policy or through your own pocket. The premium Zoya would pay for a super top-up policy like Extra Care Plus is much lower than buying an all-new health insurance policy with a Rs 10 lakh cover.

Deductible

Deductible is a fixed amount paid out-of-pocket by an insured for the medical expenses before an insurance company pays the balance cost.

What is Aggregate Deductible?

Sum Total of all the claims incurred by the insured during a policy period.

How does Aggregate Deductible Work?

Suppose you have bought a Super Top-up policy with Rs. 3 lac aggregate deductible and 10 lacs Sum Insured. In case during the policy period there is 1 or more claim more than Rs. 3 lacs then Super Top-up will pay you the balance amount incurred upto maximum 10 lacs.

Let's understand how :

Claim 1

75,000

Claim 2

50,000

Claim 3

1 Lac

Claim 4

1 Lac

Total claims

3.25 Lacs

Aggregate Deductible as per policy

3 Lacs

Total Sum Insured

10 Lacs

Balance Claim payable

25,000

Balance Sum Insured

9.75 Lacs

What are the sum insured and aggregate deductible options offered? (in Rs)

Sum Insured (Rs)

Aggregate Deductible Options ( Rs)

3 Lakh

2 Lac

3 Lac

5 Lakh

2 Lac

3 Lac

10 Lakh

2 Lac

3 Lac

5 Lac

15 Lakh

3 Lac

5 Lac

20 Lakh

3 Lac

5 Lac

25 Lakh

3 Lac

5 Lac

50 Lakh

3 Lac

5 Lac

You can insure a maximum of 6 family members in a single floater policy which may include self, spouse, dependent children and dependent parents.

Inclusions

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Add-ons

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Policy term & Exclusions

Premium

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About Bajaj Allianz General Insurance

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited and Allianz SE, with the former holding 74% stake and the latter, 26%. It is headquartered in Pune and has registered a net profit of Rs 780 Cr as on 31 st March 2019. It has won many awards such as Domestic General Insurer of the Year- India and General Insurance Company of the year at various events across Asia in 2019. They are firm believers of digitization of services and offer real-time solutions to the customers.

Glossary

Here are the top words which people generally look for in health insuracne

1. Insurer

An insurer is a comparison of different family health insurance plans, it is important to make a list of basic health coverage offered under the policy. Almost all health plans offer daycare expenses, in-hospitalization expenses, ambulance charges, etc.

2. Insured

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3. Sum Insured

4. Co-payment

5. Waiting Period

6. Exclusion

7. Aggregate Deductible

Marsh India Insurance Brokers Pvt. Ltd.

1201-02, One Indiabulls Centre, Tower - 2, Elphinstone, Mumbai, 400013

+1800 000 0000

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CIN: U66010MH2002PTC138276
IRDAI Registration No.: 120
Valid from : 03/03/2021 to 02/03/2024
Category : Composite Broker
Principal Officer Name: Mr. Sanjay Kedia

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