Cholamandalam Health Insurance

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Overview of Cholamandalam Health Insurance

Cholamandalam Health Insurance is a part of the Cholamandalam MS General Insurance Company, which is a collaboration of two companies namely, Chennai based Murugappa Group which is India’s major industrial houses, and Japanese Insurance giant Mitsui Sumitomo Insurance Company. The Japanese Insurance giant is the third largest property insurance company in Japan.

Key Highlights of Cholamandalam Health Insurance Company

Key Features Specifications
Network Hospitals Available 8000+
Waiting Period (Pre-existing Ailments) 3 years
Claims Settlement Ratio 56.25%
Policies Issued 1,03,232
Covid-19 cover Yes
Renewability Lifelong

* Year Data 2019-20

Awards and Achievements of Cholamandalam Health Insurance Company

Chola MS Health Insurance company has received numerous awards and accolades, some of which are mentioned below:

  • The company received the ‘Best Brands’ Award’ by The Economic Times in 2020.
  • Cholamandalam group is the winner of ‘Pride of Tamil Nadu Award’ for General Insurance Category.
  • Received ‘Best CSR Award’ for the Cholamandalam Health Insurance’ continuous contribution to CSR activities.
  • Awarded with the title of ‘Dream Companies to work for’ in the private insurance sector in 2017 by Times Ascent.
  • Winner of ‘Golden Peacock Award 2017’ for risk management by Institute of Directors.

Benefits of Availing Cholamandalam Health Insurance Plans

Here are some of the benefits of Cholamandalam Health Insurance

  • 24/7 customer support service
  • Cashless hospitalization at network hospital
  • Coverage against critical diseases
  • Claim process is quick and hassle-free
  • Coverage benefits like daycare procedure offered
  • Hospital daily cash coverage available
  • Domiciliary hospitalization coverage offered
  • Individual and Family Floater plans available
  • 100% restoration of Sum Insured
  • Coverage for AYUSH treatment
  • Additional Sum Insured against Road Accidents
  • Medical Second Opinion coverage
  • Free health check-up after two claim-free years

>> Buy Individual Health Insurance Online

Health Insurance Plans Offered by Cholamandalam Health Insurance Company

Here are some of the top Cholamandalam Health Insurance Plans:

1. Chola Healthline Insurance for women

This Chola health insurance plan for women is designed to offer extensive coverage to the insured. The plan covers hospitalization costs during emergencies. Maternity coverage is also available under four of its variants. This plan is regarded as ideal for women because of its numerous benefits and features. This Cholamandalam mediclaim policy also offer compensation for newborn hospitalization costs. This is an ultimate savior plan to serve women at the time of health emergencies.

Entry age  – 90 days minimum and 65 years maximum age of entry

Key Features

  • Lifetime renewability option available.
  • Sum insured available between 1 Lakh –  25 Lakh rupees.
  • Wide coverage on medical costs.
  • Policy duration is for 1/2/3 years.
  • Plan available as family floater and individual policy types.
  • Location discount of 10% available for women hailing from Tier 2 locations  depending on the premium amount.
  • Long policy term discount is also available

 

2. Chola MS Family Healthline Insurance

This Chola MS Group health insurance policy is available under the following plan types:

  • Standard plan
  • Superior plan
  • Advanced plan

Basic features:

  • Min. entry age – 18 years (adults), 3 months (children)
  • Max. entry age – 65 years
  • Medical test – is needed for people who are 55 years and above
  • Plan Basis – It is a family floater plan that covers self, spouse, and dependent children

Sum Assured

  • For standard plan – 2  lakh – 5 lakhs rupees
  • Superior plan – 4 lakh – 10 lakhs rupees
  • Advanced plan – 6 lakh – 12 lakhs rupees

Premium – generally depends on the age of the oldest family member to be insured as well as other factors like sum assured, insurance plan, members covered and so on.

Co-Payment – 10% discount on premiums

How to buy Cholamandalam Health Insurance Policy

Below steps can be followed to purchase Cholamandalam health insurance policy online:

  • Visit the portal of the insurer.
  • Click on the ‘health’ tab.
  • Select ‘Gender’
  • Submit personal details (Name, Mobile Number) after selecting Gender.
  • You will receive an OPT on your mobile.
  • Enter the OTP received on your phone.
  • ‘View Quotes’ by clicking on the appropriate button.
  • Select the number of family members to be added to the plan.
  • Select each member’s age.
  • Enter email ID and location.
  • Now click the button of ‘Submit and View Quotes’
  • You can find many health insurance quotes in front of you on the screen.
  • Shortlist the most appropriate one.
  • Now choose the policy duration of the plan.
  • Submit the required details.
  • Pay the premium online.

Other multiple channels to purchase Cholamandalam health insurance policy 

  • By making a call at the company’s sales helpline and providing them with name, phone number as well as email id of the person willing to buy the insurance.
  • By writing ‘CHOLA HEALTH’ on SMS and sending it to 56677.
  • Buy online through the company website as mentioned above.
  • Or by personally visiting a branch of the company.

The process of Renew of Cholamandalam Health Insurance Plans

Below are the steps to be followed for Cholamandalam Health Insurance renewal:

  • Go to the website of Cholamandalam Insurance.
  • Click on ‘Renew’ on the home page.
  • Submit policy details. Now, click on the tab ‘Renew’.
  • Choose the quote that suits you aptly.
  • Make the payment online.
  • Your policy is renewed.

How to File a Cholamandalam Health Insurance Claim?

To File a Cholamandalam Health Insurance claim, the insured can use both cashless and reimbursement methods.

Cashless Claims

  • Call at the insurer’s help desk at 1800-208-5544.
  • For emergency treatment call within 48 hours.
  • For planned treatment call 72 hours before hospitalization.
  • Show policy card and valid photo id
  • Submit Policy number, policyholder’s name, hospitalization time and date, location, medical condition and contact details.
  • Get admission in a network hospital.
  • Collect and fill the Pre-Authorization form at the hospital helpdesk.
  • The form will be sent to the insurer for verification.
  • The insurer will do the Chola MS health insurance review to verify the required documents before approval.
  • The insurer will approve the bill according to company terms and conditions

Reimbursement Claims

  • Inform the insurer by calling at 1800-208-5544 within the specified time (for planned hospitalization).
  • Once the treatment of the insured is over, make payment to the hospital directly.
  • Collect all essential documents from the hospital such as reports, invoices, discharge summary etc.
  • File for the claim within 30 days of discharge by submitting a claim form duly filled and signed.
  • Also, submit the original documents, treatment details and bills, reports etc.
  • FIR copy and MLC (for Road accident cases).
  • Once approved, the insurer pays the compensation as per the terms and conditions of the policy.

Claim Settlement Ratio of Cholamandalam health insurance

The ratio of claims that are settled by an insurer during a policy year as against the complete claims that the insurer receives during the year is called Claim Settlement Ratio.

The claim settlement ratio of Cholamandalam health insurance for the financial year 2017-18 was 56.25%.

FAQs on Cholamandalam Health Insurance Claim

Why Cholamandalam Health Insurance?

Cholamandalam Health Insurance is a part of the Cholamandalam MS General Insurance Company, which is a collaboration of two companies namely, Chennai based India's major industrial houses, Murugappa Group and Japanese Insurance giant Mitsui Sumitomo Insurance Company. They are known to offer best health plans for Indian customers.

What are the benefits of buying Cholamandalam health insurance plans?

Benefits include:

# 24/7 customer support service
# cashless hospitalization at network hospital
# coverage against critical diseases
# Claim process is quick and hassle-free
# Coverage benefits like daycare procedure
# Hospital daily cash coverage
# domiciliary hospitalization coverage etc.
# Individual and Family Floater plans available
# 100% restoration of Sum Insured
# Coverage for AYUSH treatment
# Additional Sum Insured against Road Accidents
# Medical Second Opinion coverage
# Free health check-up after two claim-free years

Can I port out my current plan to any of the Cholamandalam health insurance plans?

Yes, most Cholamandalam health plans allow portability features within the company from one plan to another. You need to approach the company to avail this feature.

What is the process to make a claim through the Cholamandalam Insurance Company?

Cashless Claims

# Call at the insurer's help desk at 1800-208-5544.
# For emergency treatment call within 48 hours.
# For planned treatment call 72 hours before hospitalization.
# Show policy card and valid photo id
# Submit Policy number, policyholder's name, hospitalization time and date, location, medical condition and contact details.
# Get admission in a network hospital.
# Collect and fill the Pre-Authorization form at hospital helpdesk.
# The form will be sent to insurer for verification.
# The insurer will verify required documents before approval.
# The insurer will approve the bill according to company terms and conditions

What kind of insurance policies are offered by the Cholamandalam Insurance Company?

Some insurance policies offered by the Cholamandalam Insurance Company are:

1. Car insurance
2. Bike insurance
3. Health insurance
4. Travel Insurance etc.

How to make the Cholamandalam Insurance online payment to renew the policy?

Below are the steps:

# Go to the website of Cholamandalam Insurance.
# Click on ‘Renew’ on the home page.
# Submit policy details. Now, click on the tab ‘Renew’.
# Choose the quote that suits you aptly.
# Make the payment online.
# Your policy is renewed.

What are the health insurance claim settlement options offered by Cholamandalam?

Policyholders of Cholamandalam can claim for health insurance via cashless treatment claim or via reimbursement claim option.

What are the documents required for the claim settlement process at Cholamandalam?

Below are the required documents:

> submit duly filled and signed claim form
> Submit doctor's prescription
> Summary of discharge given by the hospital
> Original copy of final hospital bill, medical bill
> Report of medical investigation
> Other bills required
> MLC and FIR copy (in case of accident)
> Copy of cancelled cheque

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Gayatri Prabhu, Head-Digital Business at Mahindra Insurance Brokers Limited (MIBL) is one those few digital leaders who has the width and depth that is required to execute an ROI driven holistic digital strategy. She cuts through the noise, identifies the critical levers and leads her team to successful execution of the defined strategy. Her core mantra to win new and retain existing customers is: understand the consumer behavior and craft experiences around it.

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