New India Assurance Health Insurance

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6 min read

Updated on Jul 13, 2022

Overview of New India Assurance Health Insurance

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;

  • Health insurance
  • Motor insurance
  • Rural insurance
  • Travel insurance
  • Home insurance
  • Aviation insurance
  • Marine insurance
  • Industrial insurance
  • Liability insurance, and
  • Customized business and SME products insurance

The health insurance segment of New India Assurance is considered as one of the most promising products. The company designed plans for:

  • Individuals
  • Families
  • Senior citizens
  • Diseases specific plans
  • Top-up plans etc.

Key Highlights of New India Assurance Health Insurance Company

Key Features Specifications
Network Hospitals Available 1500+
Waiting Period (Pre-existing Ailments) 4 years
Claims Settlement Ratio 92.68%
Policies Issued 16,83,506
Covid-19 cover Available
Renewability Lifelong

* Year Data 2019-20

Awards and Achievements of New India Assurance Health Insurance Company

The Indian operations of New India Assurance Health Insurance has won numerous awards and achievements.

  • The company won India Insurance Summit Award 2018
  • They are the winner of General Insurance Company of The Year award
  • They also received the Golden Peacock Excellence Award.
  • They are the only direct insurer in the country rated with an A-(Excellent) by AM Best Company since 2007.

Benefits of Availing New India Assurance Health Insurance Plans

The below mentioned benefits can be availed by procuring New India Assurance Health Insurance:

  • 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 the current active  policy at the time of renewal.
  • Cashless benefits – cashless benefits are available a hospital that is enlisted under New India Assurance cashless hospital list.

>> Choose Best Health Insurance Policy

Health Insurance Plans Offered by New India Assurance Health Insurance Company

The various plans available under New India Assurance Health Insurance Company include:

  • New India Top Up Mediclaim Policy
  • New India Floater Mediclaim Policy
  • New India Asha Kiran Policy
  • Mediclaim 2012 Policy
  • Pravasi Bharatiya Bima Yajona Policy
  • Mediclaim 2007 Plan.
  • Family Floater Mediclaim Policy
  • Janata Mediclaim Policy
  • Senior Citizen Mediclaim Policy
  • Personal Accident Policy
  • Overseas Mediclaim Policy

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:

  • No Proportionate Deduction
  • Maternity cost benefit
  • Revision in Limit of Cataract

Eligibility

  • Entry age – between 3 months and 65 years
  • Sum insured – between Rs. 2 lakh and Rs. 15 lakh
  • Members covered – 2-6 members consisting of dependent children

Features and benefits

  • Cover against hospitalization costs caused due to illness or injury.
  • Cover in-patient hospitalization costs.
  • Pre and post hospitalization costs.
  • Road ambulance costs.
  • Covers Ayurvedic treatment
  • Daycare procedures

 

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.

  • Entry age – between 3 months and 65 years
  • Sum insured – between Rs. 15 lakh and Rs. 1 Crore
  • Members covered – Insured, spouse, dependent children and parents

Features and benefits

  • The plan protects the policyholder against any unforeseen health expenses.
  • Covers in-patient cost of hospitalization
  • Covers organ donation charges
  • Ambulance costs
  • OPD treatment costs after every two claim free years
  • Cover costs for infertility treatment
  • Ayurvedic treatment costs

How to buy New India Assurance Health Insurance Policy

Below are the steps to follow for procuring New India Insurance plan online:

  • Submit full name, gender and age.
  • Enter phone number and click on view plan option.
  • Click the ‘continue’ tab and select your city and enter the pin code.
  • Select the plan from the selection offered.
  • Compare different plans and calculate New India assurance health insurance premium online.
  • To opt for the right plan get New India assurance review and buy the policy by paying the premium or by contacting the customer support team to get more details.
  • Once the premium is paid, the insurer will email the policy details to you.

The process of Renew of New India Assurance Health Insurance Plans

Below are the steps to follow for New India Assurance premium renewal online:

  • First go to the official portal of the insurer.
  • Check the dropdown menu on the home page and click on the ‘Renewal’ option.
  • You will be redirected to a page where you need to submit your policy details like policy number etc.
  • One you provide the premium information on New India health insurance premium chart
  • Check the premium amount and select the online mode of payment from the options given.
  • Once the payment of premium for renewal is done successfully, you would receive a confirmation notification on mobile and email ID to verify the renewal of the policy.
  • You can download the receipt of the policy to keep as proof for future reference.

How to File a New India Assurance Health Insurance Claim?

Below are the steps to follow for cashless claims of New India Assurance mediclaim policy:

  • 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 New India assurance policy owner can avail cashless treatment and the payment of the treatment is done by the insurer.

Below are the steps to follow for New India Assurance reimbursement claims:

  • 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

Also Read: What Is Copay in Health Insurance Policies?

Claim Settlement Ratio of New India Assurance 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 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
2018-2019 95.92%
2019-2020 92.68%

FAQs on New India Assurance Health Insurance

Why New India Assurance Health Insurance?

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.

What are the benefits of buying New India Assurance health insurance plans?

Benefits include:

# 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.

Can I port out my current plan to any of the New India Assurance health insurance plans?

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.

What is the process to make a claim through the New India Assurance Insurance Company?

Cashless claims:

# 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.

Reimbursement claims:

# 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

What kind of insurance policies are offered by the New India Assurance Insurance Company?

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

How to make the New India Assurance Insurance online payment to renew the policy?

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.

What are the health insurance claim settlement options offered by New India Assurance?

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.

What are the documents required for the claim settlement process at New India Assurance?

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)

Mar 31, 2022
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PayBima Team
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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