50 Lakh Health Insurance - Features, Benefits & More

The ₹50 lakh insurance policy is a health plan offered by TATA AIG with a sum insured of ₹50 lakhs. Whenever you face a medical emergency, such as a sickness, injury or accident, you get coverage for expenses up to ₹50 lakhs as per the policy’s terms.

Think of it as a shield that protects you and your loved ones from the financial burden of medical treatments. A ₹50 lakh health policy covers a wide range of medical expenses, including hospitalisation, diagnostic tests, hospital room rent, surgeries, and medications.

The ₹50 lakh insurance policy offers an extensive safety cover, protecting you against hefty medical expenses. Under TATA AIG’s ₹50 lakh insurance, you can claim the sum insured of ₹50 lakh in two ways: cashless and reimbursement. Each of these ways has distinct steps that you must follow to get the coverage. Let us understand both of these below.

Cashless Claim Method

• The first step under the cashless method is to inform us as soon as possible about your hospitalisation.

• In case of emergency hospitalisation, you must inform us within 24 hours. And in case of planned treatments, you must inform us 48 hours prior to the hospitalisation for the claim to be valid and accepted.

• Next, you must obtain a pre-authorisation letter and submit it to the hospital at the time of admission.

• Once the treatment is completed, we will directly settle the bill with the hospital (subject to sum insured and policy terms)and you won't have to pay anything from your pocket.

Reimbursement Claim

• Under the reimbursement claim, you must inform us within the timelines specified above.

• Next, you must complete the treatment at any hospital of your choice and settle the payment.

• Preserve all bills and medical invoices related to the treatment and hospitalisation.

• Fill out the insurance claim form and submit it along with other documents to us.

• We shall verify the claim and reimburse you for the expenses as per the policy’s terms and conditions.

Comprehensive Coverage

A medical insurance policy with a coverage of ₹50 lakhs can offer extensive protection against a wide range of medical expenses. It can cover hospitalisation expenses, doctor consultation fees, diagnostic tests, ambulance charges, and other medical expenses. Thus, it reduces your financial burden, while ensuring you get the best-in-class medical treatment.

Financial Security

With a ₹50 lakh health insurance policy, you can have financial security against medical emergencies. Such a policy can help cover the high cost of medical treatments, which can otherwise lead to a significant financial burden.

Coverage for Individuals and Families

TATA AIG’s ₹50 lakh insurance policy offers individual and family floater plans, ensuring you and your loved ones get appropriate coverage. For example, with TATA AIG’s Medicare Premier plan, you can get insurance for yourself, spouse, dependent children, parents and parents-in-law.

Covers Critical Illness

Critical illnesses, such as heart disease, cancer, stroke, kidney failure, etc., are serious and fatal diseases, which may involve high treatment costs. Dealing with the cost of such treatment can be financially draining. But with TATA AIG’s Criti MediCare insurance, you get coverage for 50 or 100 critical illnesses, with a sum insured of ₹50 lakh. Thus, you do not have to spend huge sums from your pocket on the treatment of critical illnesses.

Health Insurance Tax Benefits

The ₹50 lakh health insurance premium paid towards a medical insurance policy is eligible for tax deductions under Section 80D of the Income Tax Act. By claiming this deduction, you can save money by reducing your tax liability.

Customisation Options

We also offer the MediCare Select insurance plan with ₹50 lakh insurance coverage, allowing individuals to tailor the policy to their specific needs. It is a highly customisable plan which can be customised with add-ons like maternity care, consumable cover, room category select, cancer benefit, accidental death benefit, mental well-being and many more.

Knowing the premium for your ₹50 lakh health plan is crucial as it allows you to carry out financial planning and accommodate the cost of insurance among the other expenses. While the premium calculation is complex and involves many factors, such as age, location, coverage, add-ons, etc., TATA AIG’s health insurance premium calculator makes the calculation fast and easy.

Here are some steps you can follow to find out the ₹50 lakh medical insurance premium.

• Go to TATA AIG’s premium calculator page.

• Select the insured, such as self, spouse, children, etc., and click on “Get Plan.”

• Fill out the personal details on the next page, including the date of birth, phone number, email address and so on.

• Next, click on “See Plan.”

• You will get the various ₹50 lakh health insurance options.

• You can find out the premium based on the type of plan you select, the add-ons you choose and so on.

Age Factor

To buy health insurance for ₹50 lakh, individuals may have to fulfil the age criteria, as set by TATA AIG. For example, some of our plans allow children of 91 days to be included in family health plans, while others may also allow a newborn to be included. Similarly, for older individuals, the minimum age of entry is 18/25 years and the maximum entry age is 65 years.

Pre-Medical History

The pre-medical history also plays a crucial role in deciding if an individual is eligible for insurance coverage with or without restrictions. In most cases, individuals who have pre-existing illnesses may have to wait for a specific time to get coverage for specific illnesses.

Pre-Policy Medical Check-Up

Depending on the age, type of plan, sum insured and medical history, you may have to undergo a pre-policy medical check-up, either through the telephone or in person.

Lifestyle Habits

If you are a smoker or have any other hazardous lifestyle habits, you may face restrictions with respect to the policy coverage, or you may have to pay higher premiums for the coverage.

• Go to TATA AIG’s official website and choose “Health” from the type of insurance.

• Choose the individual or family floater plan that best meets your needs, then click on “Get Plan.”

• Next, enter the required information, including your name, address, and medical history and click “ See Plan” at the bottom of the page.

• Choose the desired plan and set the sum insured as ₹50 lacs. At this stage, you can also select any add-ons that you want to as available under each plan.

• Review the policy's specifics, terms, and conditions, as well as the cost of the premium.

• Pay online with your credit/debit card, UPI, or internet banking if you are pleased with the policy's specifics and premium amount.

• You will receive a confirmation email with the policy document and all other required information after processing the money.

Always read the insurance page carefully to be sure you learn more about the coverage, exclusions, and other important information. In case you have any queries, you can reach out to TATA AIG’s customer support team.

Note: You may also be able to avail of a Free Look period with some of TATA AIG’s plans. The free look period allows you to return the policy within 30 days after purchasing it, subject to terms and conditions.

As a part of the policy purchase process, you must submit the following documents.

• Date of Birth Proof- You must submit documents such as birth certificate, Aadhaar card, passport, etc., a proof of your date of birth.

• Identity Document- Identity proof documents, such as Aadhaar card, voter’s card, passport, etc., are also acceptable while purchasing health insurance for ₹50 lakhs.

• Medical Reports- In case of any medical condition, you must also submit relevant medical reports.

• Income Proof- Income proof records, such as bank statements, salary slips, income tax return slips, etc., must be submitted.

• Age Proof- Documents, such as Aadhar card, birth certificate, etc., may be necessary to provide age proof of the policy buyer

• Inpatient Expenses

All the expenses that you may incur as an inpatient in a hospital for treatment due to sickness, injury or accident are covered under TATA AIG’s ₹50 lakh health insurance. It includes expenses, such as surgery charges, doctor’s fees, room charges, medicines, etc.

• Pre-Hospitalisation Expenses

You can also get coverage for expenses incurred before hospitalisation. However, these expenses must be related to the reason for hospitalisation. For example, all the diagnostic tests, doctor visits, blood tests, etc., done 60 days prior to hospitalisation will be covered.

• Post-Hospitalisation Expenses

Even after you get discharged from the hospital, you may incur certain expenses to help you recover fully. All the expenses incurred up to 90 days after hospitalisation will be covered under TATA AIG insurance for ₹50 lakhs.

• COVID-19 Treatment

Our insurance plans also provide full coverage for medical, hospitalisation and other expenses related to COVID-19. Thus, if you get hospitalised due to COVID-19, you can claim the expenses up to the sum insured, i.e. ₹50 lakh.

• Ambulance Cover

You also get coverage for emergency ambulance services that you may avail yourself of during a medical emergency. TATA AIG provides coverage for road and air ambulance charges, based on the insurance plan you choose. For example, the TATA AIG Medicare Premier plan offers air ambulance cover, while the TATA AIG MediCare Select provides road ambulance coverage.

• AYUSH Treatment Expenses

You may prefer alternative treatment methods to allopathy medicines, such as Ayurvedic, Unani, Siddha or Homoeopathy. We also provide coverage for all expenses incurred while undergoing alternative treatment.

• Domiciliary Charges

Our insurance plans also cover the cost of domiciliary charges incurred when an insured receives treatment at home, if he is unable to travel to the hospital due to sickness or age. Thus, all the expenses that would be incurred at the hospital will be included in the coverage.

Cosmetic or Beauty Procedures

Any treatment expenses related to cosmetic or beauty procedures, which are not medically necessary will be excluded. It may include procedures, such as facelift, beauty injections, rhinoplasty, liposuction, etc.

Treatment for Substance/Drug Addiction

Our plans also exclude treatment expenses related to substance or drug abuse, alcoholism, or any other addictive conditions.

Treatment of Injury Due to War, Invasion, Etc

There is no provision for expenses that you incur for the treatment of injury or sickness due to war, invasion, riot, strike and so on.

Pre-Existing Illnesses

Pre-existing diseases are not included under the scope of health insurance for ₹50 lakh from day 1. There is a specific waiting period of 2-3 years, after which you may claim the expenses related to pre-existing conditions.

Self- Harm

Any hospitalisation or treatment expenses incurred to treat self-harm or a suicide attempt are excluded from the scope of the ₹50 lakh insurance plan.

Non-Medical Expenses

Our insurance plans also exclude non-medical expenses, such as injuries due to participation in hazardous or adventure sports, breach of law, nuclear attacks, chemical attacks, injury while being intoxicated, etc.

• Assess Your Needs: Assess your medical needs and budget before selecting a health insurance plan. Consider factors such as a family history of medical conditions, current health status, lifestyle, and future medical needs. TATA AIG offers various ₹50 lakh insurance plans to cover different needs, such as the TATA AIG Criti MediCare for critical illnesses, TATA AIG MediCare Select for customisable options and so on.

• Check Coverage: Check the coverage provided by the health insurance plan. Look for comprehensive coverage plans, including hospitalisation charges, doctor's fees, diagnostic tests, surgeries, and critical illnesses, such as one offered by TATA AIG.

• Network Hospitals: Check the list of network hospitals affiliated with the health insurance plan. Look for plans with a wide network of hospitals to ensure easy access to medical facilities. While you can get the treatment done at any hospital of your choice, going to a network hospital makes the claim process smooth and easy.

• Co-Payments and Deductibles: Check the policy's terms and conditions, including co-payments and deductibles. Some policies may have sub-limits or require the policyholder to pay a percentage of the medical expenses out-of-pocket.

• Waiting Period: Check the waiting period for pre-existing medical conditions. Some policies may have a waiting period before covering pre-existing medical conditions. As per the recent IRDAI guidelines, the waiting period for pre-existing diseases has been reduced to 3 years.

• Premium: Compare the premiums for different health insurance plans. Look for plans that provide comprehensive coverage at a reasonable premium.

• Claim Settlement Process: Check the claim settlement process of the health insurance plan. Look for plans that have a hassle-free and transparent claim settlement process.

• Customer Reviews: Check the customer reviews and ratings of the health insurance plan. Look for plans with positive customer feedback and a good reputation in the market.

TATA AIG’s ₹50 lakh health policy offers unmatched coverage benefits to individuals and families, enabling them to navigate medical emergencies with ease. We offer the best health insurance policy for individuals of all ages from 0-65 years, so you get top-class medical treatment without spending a fortune.

Our insurance plans are affordable and assist you during critical illnesses, prolonged hospitalisations, day care procedures and all medical emergencies efficiently. You can also customise our health plans with a wide range of add-ons to suit your medical requirements.

Besides, when you buy health insurance, you are also eligible for various discounts, such as family floater discount, favourable discount, etc. We offer a seamless buying experience as the entire process can be completed using our website.

We also offer 24/7 customer support, available to assist you at all times with any insurance-related enquiries, claim settlements, and more.