We thank you for your interest in Tata AIG General Insurance Company Limited for your general insurance needs.
We understand your right to information to make the right decisions for your insurance needs. To keep you well informed, we bring to you the latest in the health insurance sector.
We would like to bring to your attention that Insurance Regulatory Development Authority (IRDA) has recently initiated measures such as standardised definitions, declarations and list of excluded items, dedicated channel to address senior citizens grievances, lifelong policy renewal etc. These are positive steps towards allaying the consumer concerns in the industry.
Tata AIG General Insurance Company Limited believes in utmost transparency and is pleased to share with you the salient features and benefits that are being incorporated in our Health (including Personal Accident & Travel Insurance) policy documents & prospectus.
Please find below the highlights of a few major changes: These changes will be effective from 1st October 2013.
1. The regulator has mandated lifelong renewal for all health policies except Travel policies. Tata AIG MediCare already offers a lifelong renewal, irrespective of the claims you make or your health status.
2. Standardisation of definitions, declarations, excluded items, etc will help you understand the product before you buy it, will ensure transparency and avoid any misunderstanding at the time of claims settlement.
3. Claims process including the Turn around Time to settle your claim will be disclosed to you to ensure transparency in our processes.
4. There is a separate channel dedicated to our customers who are senior citizens. Tata AIG General Insurance Company will treat you on priority and take care that your grievances are handled with extra care and sensitivity.
5. Changes such as Premium inclusive & exclusive of service tax, clauses on free look period and grace period, penal interest provision, contribution clause, process and terms for increasing your coverage will be available in detail in your policy documents/prospectus, wherever applicable.
We would further like to inform you that we have a wide range of products (below) which can cater to your different needs in Health Insurance, Personal Accident, Travel Insurance and Group Insurance Policies. Above changes have been made in all the products tabulated below -
|Product Category||Product name|
|Health Insurance||MediCare, MediCare Protect, MediCare Premier, MediCare Plus, Wellsurance, Critical Illness, Individual Accident & Sickness Hospital Cash, Home Guard Plus|
|Personal Accident||Injury Guard, Maharaksha, Secure Future, Secure Income – Low, Secure Income – High, Income Guard, Accident Shield, Accident Guard, Complete Care, Hospital Care|
|Travel Insurance||Asia Travel Guard, Domestic Travel Accident, Domestic Travel Protection, Student Guard, Travel Guard|
|Group Policies||Group Accident & Sickness Hospital Cash, Group Multi guard, Group Personal Injury, Group Personal Accident and Business Travel Accident Policy, Voluntary Group Personal Accident Policy|
|* Additional features not mentioned above for MediPrime have been mentioned below –|
- Cumulative bonus in case of claim will be reduced at the same rate at which it is accrued. Cumulative Bonus accrued rate will continue to be at 10% and the reductions in case of claim will be changed to 10%.
- Coverage for non-allopathic treatments will be provided if the treatment has been undergone in a government hospital or in any institute recognized by government and/or accredited by Quality Council of India/National Accreditation Board on Health or any other suitable institutions.
We hope you find this information useful. If you need any clarification, you can call us on 1800 266 7780 .