Health Companion - Individual Health Insurance Plan

You have the option of buying a health insurance policy for a period of one year or two years. You will be able to get a discount on purchase of a policy for two years. This discount is applicable on the premium for the second year only. At the end of your insurance period you need to renew your policy if you wish to continue being covered, without a break.

Yes. You can avail a tax benefit available under Section 80D of the Income Tax Act 1961 by buying a health insurance policy. Every taxpayer can avail an annual deduction of Rs. 25,000 from his/her taxable income for health insurance premium for self and dependents. For senior citizens, this amount is Rs. 30,000. Please note that you will have to show the proof of payment of premium. (Section 80D benefit is different from the exemption of Rs 1,50,000 under Section 80 C). Thesebenefits are as per applicabletax laws, which can amend from time to time. We recommendyou to consult your tax advisor for further details or clarifications.

A medical checkup may be necessary when you sign up for a new health insurance policy, depending upon the age of the proposed to be insured and the sum insured opting for.

For sum insured up to Rs.4 Lacs, if at all medical tests are to be conducted, then you will have to bear 50% of the total cost of the medical tests and pay at the Diagnostic Centre. In case your proposal gets rejected by us, we will deduct the balance 50% of the cost of medical tests from your premium and the balance premium would be refunded. For other sum insured options, in case your proposal gets rejected by us, we will deduct the full cost of medical tests from your premium and the balance premium would be refunded.

However, medical checkups are not usually needed for renewal of policies. It is in your best interests to undergo a medical check-up at the time of enrollment so that when you need us, we‘re there to provide speedy and efficient support and faster settlement of claims.