6 min read
Updated on Jul 13, 2022
New India Assurance Health Insurance is a subsidiary company of the government of India with a global presence in over 28 countries worldwide. Headquartered at Mumbai, the company is a leader in the sector of non-life insurance with more than 100 years of existence.
Considered as direct insurer in the country, the company has a strong presence in India and in the international insurance market. Till December 2019, the company had 2935 offices with a employee base of 16795. New India Assurance general insurance company offers several types of insurance policies namely;
The health insurance segment of New India Assurance is considered as one of the most promising products. The company designed plans for:
|Network Hospitals Available||1500+|
|Waiting Period (Pre-existing Ailments)||4 years|
|Claims Settlement Ratio||92.68%|
* Year Data 2019-20
The Indian operations of New India Assurance Health Insurance has won numerous awards and achievements.
The below mentioned benefits can be availed by procuring New India Assurance Health Insurance:
The various plans available under New India Assurance Health Insurance Company include:
Here are details of some of the top New India Assurance Health Insurance Plans:
1. New India Floater Mediclaim Policy – This New India health insurance policy comes with 3 optional covers:
Features and benefits
2. New India Premier Mediclaim Health Insurance Policy – The New India Assurance mediclaim policy is available in two plan variants that you can choose from.
Features and benefits
Below are the steps to follow for procuring New India Insurance plan online:
Below are the steps to follow for New India Assurance premium renewal online:
Below are the steps to follow for cashless claims of New India Assurance mediclaim policy:
Also Read: What Is Copay in Health Insurance Policies?
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 New India Assurance Health medical insurance for the financial year 2018-19 was 95.92%, while it was 92.68% for the FY 2019-20.
|Financial Year||Claim Settlement Ratio|
New India Assurance Health Insurance is a subsidiary company of the government of India with a global presence in over 28 countries worldwide. Headquartered at Mumbai, the company is a leader in the sector of non-life insurance with more than 100 years of existence. Considered as direct insurer in the country, the company has a strong presence in India and in the international insurance market. Till December 2019, the company had 2935 offices with a employee base of 16795.
# Extensive limit on Sum Insured - these plans allow a choice of sum insured that ranges from 1 lakh to 1 crore rupees that can be opted for as per the individual and family needs of the policyholder.
# Restoration of Sum Insured - these plans allow the benefit of restoration of sum insured. Thus, under these plans the sum insured is refilled by the insurance company when it becomes exhausted due to previous claims that were made during the term of the policy.
# Lifetime Renewability - these plans are available with lifetime renewability option and so you can renew these plans by making renewal premium payment.
# Cumulative Bonus facility - the health plans by New India Assurance allow No Claim Bonus for each claim-free year.
# Portability - these plans also offer portability feature, which means that the insured can switch policy if he/she is not satisfied with his/her active policy at the time of renewal.
Yes, most New India Assurance health plans allow portability features within the company from one plan to another as well as from one policy provider to another. You need to approach the company to avail this feature.
# Get admitted at a New India Assurance Network Hospital.
# Intimate the insurer's TPA about the hospital admission.
# Inform insurer 48 hours prior to getting hospitalized for planned treatment and within 24 hours of getting hospitalized for emergency cases.
# Submit the form for Cashless Claim to the insurer/TPA for verification.
# The documents are verified and checked as per the policy terms and conditions.
# The insurer informs the policyholder and the hospital if the claim is approved or rejected.
# If approved, the insured can avail cashless treatment and the payment of the treatment is done by the insurer.
# Get Hospitalized at any hospital including non-Network Hospital.
# Inform TPA within 24 hours of hospitalization.
# Get the treatment done and settle all bills.
# Collect all original documents and discharge papers from hospital.
# Submit the claim documents within 7 days of discharge.
# The insurer will verify the documents and settle the claim as per terms and conditions
New India Assurance general insurance company offers several types of insurance policies namely;
1. Health insurance
2. Motor insurance
3. Rural insurance
4. Travel insurance
5. Home insurance
6. Aviation insurance
7. Marine insurance
8. Industrial insurance
9. Liability insurance, and
10. Customized business and SME products insurance
Below are the steps:
# Go to the website of New India Assurance health 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.
Policyholders of New India Assurance health insurance can make health insurance claims via any of the two options of cashless treatment or reimbursement claim option.
Documents required are:
# Duly filled and signed claim form with details
# Original copy of discharge summary
# Original bills and receipts from hospital
# Other original treatment reports.
# Follow-ups treatment documents (if any)
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