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PRESENTATION ON

Health Insurance Plans of

V/s
Health Insurance - An Overview
The term Health Insurance is generally used to describe a form of insurance that pays for medical
expenses. It is sometimes used more broadly to include insurance covering Disability or Long Term
Nursing or Custodial Care needs.

Under the Insurance Act, 1938, insurance against sickness & medical treatment is not part of
the Life Insurance Business but comes under miscellaneous insurance business, which is part
of General Insurance business. In many country including India it comes under both business.

ICICI Pru HEALTH PLANS


There are several Health Insurance Plans of ICICI Pru , it is categorized on the following basis:

Hospitalization Plans: Cover expenses in case you need to be hospitalized.


Such as HOSPITAL CARE.

Critical Illness Plans: Provide coverage against critical illnesses such as heart attack, organ transplants,
stroke, and kidney failure among others.
Such as CRISIS COVER,
HEALTH ASSURE PLUS.

Specific Conditions Coverage: Designed specifically for certain conditions


or illnesses such as diabetes or cancer.
Such as DIABETES CARE, CANCER CARE,
DIABETES CARE PLUS, CANCER CARE PLUS
DIABETES ASSURE,
HOSPITAL CARE PLAN

FEATURES & BENEFITS

• Hospitalsation benefit (DHCB)


• Intensive Care unit (ICU) Benefit
• Post Hospitalization Benefit
• Surgery Benefit
• Payout in addition to other plan HOSPITAL CARE At a Glance
• Cashless hospitalization
Entry age 1 - 60 yrs
• Multiple Claims
Policy Term 10 - 20 yrs

• Tax Benefits Maximum Cover Ceasing 80 yrs


• Transparent coverage norms Age
• Guaranteed coverage
Premium Payment Yearly, Half
Frequency yearly
& Monthly
Maturity / Death Benefit Not Payable.
CRITICAL ILLNESS PLANS
CRISIS COVER PLAN HEALTH ASSURE PLUS
Features & benefit Features & benefits
• Disability benefits • Benefits against 6 critical illness
• Disease benefits for 35 critical • Death benefits
diseases • Maturity benefits
• Death benefits • Flexible withdrawal options
• Lump sum paid irrespective of actual • Tax benefit
billing. • Claim on basis of Diagnosis, not on
• Coverage up to 75 yrs medical bill
• Coverage continues even after claim Health Assure Plus At a Glance
• Tax benefit
Sum Assured 1 lacs - 10 lacs
Crisis Cover At a Glance
Age of entry 18 - 60 yrs Policy Term 10 - 30 yrs
Coverage term 10 - 50 yrs
Age of entry 18 yrs - 55 yrs
Maximum cover 75 yrs
ceasing age Maximum cover 65 yrs
ceasing age
Sum Assured 3 lacs – 20 lacs
Premium payment Monthly, half
Premium Monthly, half yearly frequency yearly
payment & annually
& annually
frequency Tax benefits As per tax laws
Tax benefits As per tax laws
under
under
Sec 80C & 80D
Sec 80C & 80D
SPECIFIC CONDITION COVERAGE PLAN
DIABETES CARE,CARE PLUS& ASSURE CANCER CARE & CARE PLUS PLAN
PLAN Features & benefits
Features & Benefits • Covers given to both early and
• Lump-sum payment, on diagnosis of advanced stages of cancer
the six critical illnesses, kidney • Free cancer screening under
failure(only in Diabetes Assure plan)  wellness program
• Optional cover for eye & foot • Cash payouts at different stages for
complications (only in diabetes care & diagnosis, treatment and surgery
care plus plan) • Cover up to 10lakh against cancer,
• Wellness program 3 Free check-ups for premium as low as Rs 300 per
every year month
• Reduced Premium on display of good • Tax benefit under section 80D
control
• Web support for better diabetes control
Cancer plans At a Glance
• Tax benefit Entry age 20 – 60 yrs
• Entry age
No Maturity 25 yrs - in
benefit payable 60any
yrs plan
Maximum cover ceasing 70 yrs
Policy Term
Diabetes 5 yrs
plans At a Glance age
Sum Assured 3 lacs - 10 lacs
Policy Term 10 - 50 yrs
Premium payment Yearly, half
mode yearly, monthly Sum assured 5 lacs - 25 lacs
Tax benefit As per the Tax
Min. single premium 1200 / annum
laws
BAJAJ ALLIANZ HEALTH
PLANS
BAJAJ ALLIANZ deals with two health products which are as follows
• CARE FIRST (Hospitalization Plan)
• HEALTH CARE (6 in 1 plan)

CARE FIRST

Benefits & features


• Hospitalization Cover
• Day Care Treatment Care First At a Glance
• Pre & Post-Hospitalization Cover Entry Age 18 yrs - 56 yrs
• Cash Less Service Facility
Sum Assured 1lacs – 7 lacs
• Death benefit
• Tax Benefit Maximum cover ceasing 65 yrs
age
Policy Term 3 yrs

Premium Payment Yearly, half yearly


Frequency Quarterly , monthly
Health Care

It is three year Health Insurance Plan providing comprehensive health cover with a life
insurance plan. This plan covers the Six Plans that’s why it called as 6 in 1 plan.

Benefits & Features


6 in 1 Health plan at a glance
• Death benefit
• Hospital care benefit Entry age 18-57 yrs

• Critical Illness benefit Maximum age maturity 65 yrs


• Surgical benefit
Term policy 3 yrs
• Accidental Total / Partial Disability Covers
• Post hospitalization benefit Premium payment mode Yearly,half yearly
Others benefits Quarterly,monthly
• Multiple Claim Minimum single premium 1000 / year
• Cashless benefit Tax benefit As per the tax
laws
Comparison Between ICICI Pru & Bajaj Allianz

Basis ICICI Prudential BAJAJ Allianz


Hospitalization At least For 2days & max for 90 At least for 1day, expense
benefits days per policy year , expense cover range up to 7 lacs
cover range up to 20 lacs
3D’s benefit Full sum assured is payable in Care first plan also provide the
crisis cover plan if death/disability death & disability benefit
due to an accident (if permanent disability occur)

Maturity Payable in health assure plus plan Does not provide such benefit
benefit if no claims made during policy
term
Surgery Hospital care gives this benefit Max Rs 50,000 per policy year
benefit depending on surgery grade

Critical illness It covers 35 critical illnesses It cover 11 critical illnesses


benefit
Policy term Policy term varies from 5-50 Its each policy term are of 3
years in its different plans years.

Entry age Min 1 year & max 60 yrs Min 18 yrs & max 57 yrs
throughout its different plans throughout its different plan
Basis ICICI Prudential Bajaj Allianz

Special It has special plan for diabetes & Such plans are not available
condition plans Cancer . here
Hospital 4583 hospitals allover India 2000 hospitals allover India
networks
Multiple claim One can make multiple claim It also provide multiple claim
during a policy term but it should benefit for various surgical ,
not exceed the benefit limit hospital cash and post
hospitalization benefits
Cashless Only in network hospitals Only in network hospitals
hospitalization
Tax benefit As per the tax laws under section As per the tax laws under
80C & 80D section 80C & 80D
Maximum age 80 yrs in hospital care, 75&65 in 65 in all of the plans
of ceasing critical illness plan 70 in all
special condition plan
Renewal In most of the plans Policy term Necessary after 3 yrs to
are quite long to cease the continue the policy to the next
maximum age, but wherever 3 yrs
needed plan can be renewed
CONCLUSION
From the point of view of consumers both the companies
have
mostly common plans with common benefits. But ICICI Pru life
have some more advantages over BajajAllianz life insurance in
the following ways:-

• More specialized plans for special diseases


• Larger network of hospital
• Easier Claim.
• High benefit limit in comparison to Bajaj Allianz.
• Policyholder can claim for benefit amount from this policy
as well as from the other medical Insurance policy.
• Policies are available for the child of 1 yr up to 60 yr old
person.
• One of the policy of ICICIPru is a health-cum-life insurance
plan i.e Health Assure Plus Plan.
THANK YOU