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Health insurance just got 18% cheaper – no GST applicable!
Extensive coverage for you and your family
Covers pre- and post-hospitalisation expenses
Protects against high medical costs
0% GST on health insurance AO
Our Elevate health insurance policy offers multiple sum insured options, including ₹5 lakhs, ₹7.5 lakhs, ₹10 lakhs and so on. A ₹10 lakh health insurance essentially means having a coverage that covers medical expenses up to ₹10 lakhs or a health insurance policy with a sum insured of ₹10 lakhs. You can use it to cover the medical expenses incurred due to hospitalisation, daycare procedures, donor expenses, etc. as per the policy’s terms and conditions. A ₹10 lakh health insurance is also read as health insurance with sum insured of ₹10 lakhs.
Working of a ₹10 lakh health insurance cover is simple. Here’s how it works:
You choose a health policy that offers coverage of ₹10 Lakhs and you pay an amount to the insurance company called premium. Once you pay the premium, your policy becomes active and you’re covered for medical costs up to ₹10 lakhs.
If you need any medical care or hospitalisation, the ₹10 lakh health insurance policy can come to your aid for your medical expenses up to ₹10 Lakhs. You inform your insurer, which checks if the treatment is covered under the policy or not. If yes, they will help you manage its costs.
If you go to a hospital that has a tie-up with your insurance company, you may not need to pay anything upfront. The hospital sends your bills directly to the insurance company. If the claim is approved, the insurance company pays the hospital directly.
If the hospital is not part of the insurance company’s network hospital list, you will have to pay the bills first. After the treatment, collect all your bills, reports, etc., and send them to the insurance company. They will check the documents. If everything is correct, the insurer transfers the approved amount to your bank account.
Some essential features of a ₹10 lakh health insurance policy are as follows:
The policy covers relevant medical expenses incurred immediately within 90 days before hospitalisation up to the annual sum insured. It means the insurer will pay for all the costs you bear for 90 days before hospitalisation.
Not only pre-hospitalisation, the policy also covers expenses incurred immediately 180 days after hospitalisation. It means the insurer will pay for the costs you bear for up to 180 days after you return from the hospital.
Health insurance for ₹10 lakhs covers day care treatment. These are treatments or procedures that require less than 24 hours of hospitalisation. You can find the list of such procedures and treatments in the policy wordings.
Health insurance for ₹10 lakhs also provides you access to several wellness programmes. These are intended to promote and reward you for adopting a healthy behaviour through various wellness services and discounts.
The potential benefits of health insurance for ₹10 lakhs are as follows:
Medical treatment can be costly, especially for serious illnesses or surgeries. A ₹10 lakh health insurance policy gives you funds to cover large hospital bills. With this coverage, you get an adequate financial cushion during stressful times.
Medical emergencies can drain your savings. With health insurance ₹10 lakh cover, you don’t have to dig into your savings for treatment. The policy helps cover expenses, allowing you to keep your savings intact for day-to-day needs.
Knowing that you have ₹10 lakh health cover gives you peace of mind. You don’t have to panic or rush for money during a medical contingency. You can focus fully on recovery or on taking care of your loved one.
The eligibility criteria for availing health insurance with ₹10 lakh cover are:
Several factors play a crucial role in determining the premium for health insurance of ₹10 lakh. Some of them are:
Your age plays a vital role. The older you are, the greater the chances are of falling ill or requiring treatment. Insurers factor this while determining the premium. A young person is usually considered healthier. Therefore, the price may vary depending on your age.
If you already have pre-existing health issues like diabetes or heart ailments, they could affect premiums. Insurers may also ask you about your past medical history. They try to understand how likely you are to need hospital care. This helps them decide the cost of your policy.
Habits like smoking, drinking, etc., can affect your health in the long run. Insurers ask about your daily habits when you buy the policy. They use this information to know how healthy your lifestyle is. This plays a role in how they calculate the cost.
If your family members have had serious illnesses, it can be a factor. It helps insurers understand if there’s a chance you may develop similar health issues. They consider this when deciding the price. It doesn’t mean you will fall sick, but it helps them plan better.
Add-on covers are extra benefits you can include in your policy for more protection. You can choose from several add-on covers, including Infinite Care, Maternity Benefit, and Claim Protector. While each add-on offers more value to the policy, it affects the premium.
Some reasons to buy a ₹10 lakh health insurance from ICICI Lombard are:
Our Elevate health insurance policy provides extensive coverage, allowing you to easily manage your medical needs. Right from in-patient treatment to pre- and post-hospitalisation coverage to domiciliary hospitalisation, we have your back covered, always.
Have you made more than one claim in a year and have exhausted your sum insured? Don’t worry! Our policy is equipped with a reset benefit, which resets your annual sum insured an unlimited number of times. This ensures you never run out of cover.
Our health insurance policy offers various add-on covers that you can add to your base policy for enhanced protection. Power Booster, JumpStart, New Born Baby Cover, Inflation Protector, etc., are some add-ons you can opt for.
We are there for you when you need us the most. Our claim settlement process is fast and hassle-free. Once you inform us about your claim, we take care of it and ensure that your claim is processed seamlessly.
To buy a ₹10 lakh health insurance policy online from ICICI Lombard:
You need to have a health insurance policy as it:
Health insurance helps you pay for hospital stays, doctor visits, tests, and medicines. Without it, even a short illness can cost a lot of money. It protects you from sudden medical bills. This way, you can focus on getting better instead of worrying about how to pay.
Medical treatment can be expensive. Health insurance reduces this burden by taking care of most of the costs. You don’t have to use your savings or borrow money. This helps you maintain financial stability even during tough times.
Without insurance, even a single surgery or hospital stay can use up all your savings. Health insurance protects that money for other important things like your child’s education or daily needs. It acts like a safety net. You don’t have to break your savings or sell things in an emergency.
With health insurance, you can get treated at good hospitals that are part of the insurer’s network. You don’t have to settle for just any hospital. This means you can receive quality care when you need it most. You also don’t have to pay upfront at many hospitals.
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Whether ₹10 lakh health insurance is enough for a family depends on factors like the number of members, age, medical history and the city they live in. In metro cities where healthcare costs are higher, ₹10 lakh may fall short during major treatments or multiple hospitalisations. For a young, small family with no pre-existing conditions, it could be sufficient.
Yes, there’s a waiting period for specific listed surgeries/treatment or procedures for up to 24 months from policy commencement. Pre-existing diseases have a waiting period of 36 months. You can reduce this waiting period with the waiting period reduction option.
Yes, cashless treatment is available at network hospitals. In case of an emergency or planned hospitalisation, you can use a health ID card to avail of a cashless service. Cashless treatment ensures you don’t have to pay any charges upfront.
Premium depends on various factors, including health condition, age, plan type (individual or floater), among others. All of these play a vital role in determining the premium. You can use online tools to estimate the premium you need to pay for your policy.
You can cover critical illnesses through a critical illness add-on. Treatment for critical diseases can be pretty high and this add-on can help you cover the treatment costs of such ailments with ease.
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