9 min read
Updated on Jul 13, 2022
Chola MS is a general insurer formed as a joint venture between Murugappa Group of India and Mitsui Sumitomo Insurance Company Limited of Japan. Both these companies are financial leaders in their respective segments. As such, they combine their expertise and offer a host of general insurance solutions in the form of Chola MS General Insurance Company. The company believes in trust, transparency, and technology and efficient customer service.
|Gross Written Premium in FY 2020-21||Rs.43,882 million|
|Number of branches||132|
|Number of intermediaries||50,000+|
|Number of customers||89 lakh+|
|Number of advisors||8865+|
Ever since it was established, Chola MS General Insurance Company has won various awards and accolades. Here’s a look at a few of them –
If you choose health insurance plans offered by Chola MS General Insurance Company, you can enjoy the following benefits –
Health insurance plans offered by Chola MS General Insurance Company offer the following types of coverage features –
|Type of coverage benefit||Meaning|
|Inpatient hospitalisation||If you are hospitalised for 24 hours or more, the cost of such hospitalisation would be covered. Coverage would be allowed for room rent, ICU rent, nurse’s fee, doctor’s fee, treatment costs, etc.|
|Pre hospitalisation expenses||The medical expenses that you incur before you are hospitalised are called pre-hospitalisation expenses. Such expenses are covered up to a specified duration|
|Post hospitalisation expenses||The medical costs that you incur after being discharged are called post hospitalisation expenses. Such expenses are also covered under Chola MS health insurance plans up to a specified period|
|Day care treatments||Treatments wherein you are hospitalised only for a few hours are also covered by the plan|
|Ambulance expenses||Chola MS health insurance plans cover the cost of ambulance if you hire one to be transported to the hospital|
|Organ donor treatments||If you are hospitalised and you need an organ transplant surgery, the cost of harvesting the organ from a donor would be covered under the policy|
|Domiciliary treatments||Domiciliary treatments are those that you avail when you are hospitalised at your own home. If, due to unavoidable circumstances, you seek home hospitalisation, the plan would cover the costs incurred therein|
|Free health check-ups||Chola MS health insurance plans also allow free preventive health check-ups after specified durations. This helps you monitor your health|
Though the health insurance plans offered by Chola MS General Insurance Company are quite comprehensive in their scope of coverage, they have specific exclusions. Coverage for such exclusions is not allowed. Some of the most common exclusions are as follows –
Health insurance plans allow financial assistance in medical emergencies. They pay your medical bills so that you don’t face any financial hardships in an illness or injury. We, at PayBima offer one of the best health plan offered by Chola MS General Insurance Company. Here are the details of the plan –
Chola Flexi Health is a flexible, yet, comprehensive health insurance plan that allows you to customise your coverage as per your needs. You can avail of a range of coverage benefits to ensure an all-round protection.
Given below are some of the salient features of Chola Flexi Health plan –
You might suffer multiple claims in a policy year. If you do and if your sum insured is exhausted, the plan allows 100% restoration of the sum insured if the claims are unrelated in nature.
If you are up to 50 years of age and you don’t have adverse medical conditions, you can easily buy the policy without the need of any pre-entrance health check-ups.
For every year that you don’t make a claim in the policy, you are rewarded with 10% additional sum insured, free of cost. You can enjoy cumulative no claim bonus every successive year that you don’t make a claim and increase your sum insured by up to 50%.
In the case of hospitalisation following a road traffic accident, you get an additional 25% of your sum insured, subject to a maximum of Rs.3 lakhs, as coverage.
Get daily cash allowance of Rs.500 per day of your hospitalisation towards the costs incurred for an accompanying person. The plan pays this benefit for a maximum of 10 days.
If you want a second opinion, we got you covered. Get reimbursement for up to Rs.25,000 for availing of a second medical opinion from a specialist.
|Entry age||Adults – 18 to 65 years
Children – 3 months to 26 years
|Sum insured||Rs.1 lakh to Rs.25 lakhs|
|Policy term||1 year to 3 years|
|Premium payment frequency||Single premium
|Pre-existing waiting period||36 months|
You can buy Chola Flexi Health insurance policy online in a very simple manner through PayBima’s PayBima.complatform. The process is as follows –
Start the process by visiting the website of PayBima and select ‘health insurance’.
Provide all your the requested personal and medical details so that the premium can be calculated based on your coverage needs and eligibility. Enter in your name, sum insured, number of dependents, their gender, age, location PIN code, etc. Then provide your contact details so that our executives can get in touch with you and to get a personalised consultation, which will help you buy the policy easily.
Once you have provided all the details, a list containing of all the plan names and their features would be displayed. You can also find Chola Flexi Health plan in the list. Compare the plan with other leading health plans in the market. You can compare the coverage vis-à-vis the premium and choose the most suitable policy.
After you have shortlisted the policy, provide your details in the online proposal form. Fill up the form completely and correctly and submit it.
Once your medical reports are cleared, you just have to pPay the premium online and the policy would be issued instantly., incase of no adverse declarations about Medical history and Lifestyle habits in proposal form
Based on your age, medical history, lifestyle habits and the coverage limit selected, you might have to undergo a pre-entrance medical check-up. Avail of the check-up at the insurer’s networked facility.
Once your medical reports are cleared, you just have to pay the premium online and the policy would be issued instantly.
Besides the facility to buy Chola MS health insurance policy, PayBima also allows you the facility to renew the plan. Health insurance plans allow lifelong renewals. As such, if you renew the policy within the due date, you can enjoy non-stop coverage.
Renewal of the policy is an online process wherein you would have to provide your policy number and other details. You can check the plan details on renewal and make changes if needed. When you pay the renewal premium online, the policy would be instantly renewed. For any help renewing your Chola MS health insurance policy, you can get in touch with PayBima at 1800 267 67 67 or by sending a mail at email@example.com.
Making a claim in your Chola MS health insurance plan is simple and can be done online through PayBima. The claim process is as follows –
If you want to avail of the cashless claim facility, you can locate the nearest networked hospital through the company’s website. Once you have located the hospital, get admitted to it by showing your health card and identity proof.
For approval of your cashless claim, you need to fill and submit a pre-authorization claim form. The form is available both at the hospital and on the insurer’s website. Fill up the form stating the details of the claim. Submit the form at least 3-4 days before you are being hospitalised. In the case of emergencies, however, the form should be submitted within 24 hours of hospitalisation.
Based on the pre-authorization form, the insurer would give the approval for cashless claims. The hospital would, then, proceed with the treatments and the bills would be directly handled by the insurer.
If you get admitted in a hospital that is not tied-up with the insurer, your claim would be settled on a reimbursement basis. In such cases you would have to bear the medical costs intimate the Claim to insurer before the planned admission, in case of emergencies you can intimate after the admission but before the discharge when you are hospitalised. The bills are to be settled by you. After recovery the Hospital discharge, fill up the claim form and attach all the original bills, receipts and medical documents to the insurance company. The company would assess the claim and reimburse you for the costs that have been incurred.
You can also seek PayBima’s help for easy claim settlements. Just call up at 1800 267 67 67 or send an email to firstname.lastname@example.org and we would help you with your claims.
For a successful claim settlement, the following documents would be needed –
Chola MS health insurance plans are quite comprehensive in their scope of coverage and competitively priced. Other highlights include the following –
|Health Insurers in India|
|Universal Sompo General Insurance Company Limited||Future Generali India Insurance Company Limited|
|Bajaj Allianz General Insurance Company Limited||HDFC Ergo General Insurance Company Limited|
|Care Health Insurance Company Limited||ICICI Lombard General Insurance Company Limited|
|Aditya Birla Health Insurance Company Limited||Manipal Cigna Health Insurance Company Limited|
|Niva Bupa Health Insurance Company Limited||Royal Sundaram General Insurance Company Limited|
|SBI General Insurance Company Limited||Tata AIG General Insurance Company Limited|
Yes, the premium that you pay for a health insurance policy is allowed as a deduction from your taxable income. The deduction is available under Section 80D of the Income Tax Act, 1961 and its limit is Rs.25,000. If you are a senior citizen, however, the limit would increase to Rs.50,000. If you also buy an independent policy for your parents, you can claim an additional deduction under Section 80D. The deduction limit would be Rs.25,000 or Rs.50,000 depending on the age of your parents.
Yes, Chola Flexi Health plan allows an add-on cover for international count find International word in wordings second opinion. You can avail of international ?second opinions for illnesses or injuries and the cost of such consultations would be covered. Moreover, coverage is allowed internationally as well so that you can avail consultations from international doctors too. However, to avail of the benefit, an additional premium would be required.
Please recheck the add ons
Yes, the premium is rated based on your location. Premiums are higher for Tier 1 cities which include Chennai, Mumbai, Bengaluru, New Delhi, Kolkata, Hyderabad, Gurgaon, and Ahmedabad. For other cities, however, the premium is lower.
Yes, you can opt for a family floater policy and avail coverage for your whole family. Chola Flexi Health Family floater Plan allows coverage for up to 6 family members which includes self, spouse, and dependent children.
Pre hospitalisation expenses are covered for up to 30 days and post hospitalisation expenses are covered for up to 60 days under Chola Flexi Health Plan.
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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