Royal Sundaram Health Insurance Company – Check Key Highlights, Benefits, Plans and Claim Settlement Ratio

Overview of Royal Sundaram Health Insurance

Royal Sundaram Company is one of the most trustworthy and reliable insurance companies in India. They offer tailor-made health insurance plans to suit the precise requirements of individuals and families with comprehensive coverage. With Royal Sundaram health policies you get to insure 19 members of a family under one cover. With 81.50% claim settlement ratio, Royal Sundaram Health Insurance company is definitely one of the best insurance providers for procuring your health insurance. Not only in India, Royal Sundaram Insurances have their influence in numerous countries around the globe.

They are one of the key players in the field of insurance with a far-extending product range in different insurance sectors such as Motor, Health, Travel, Home and Business among others. The best part about the robust health plans offered by Royal Sundaram Health Insurance is their cost-effective premium rates. Also, they are among the first insurers to provide cashless claim facilities along with the facility of cash allowances, network hospitals and so on. The insured can easily calculate the premium amount of health plans with the Royal Sundaram premium calculator to know how much they must pay for a particular policy.

Key Highlights of Royal Sundaram Health Insurance Company

* Year 2019-20 Data

Awards and Achievements of Royal Sundaram Health Insurance Company

• Royal Sundaram health insurance company is the recipient of the ET award for the category of Prompt GI Compact in the sector of Health Insurance.
• Royal Sundaram is recognized as the first private insurance conglomerate to associate with banks as affinity partners to sell retail products. They are also known to present credit cards with co-branding facilities.
• Royal Sundaram is also termed as the first insurance company to facilitate cashless settlement in network hospitals to compensate for health insurance claims.
• Royal Sundaram is also the first private insurance company to facilitate innovative Hospital Cash as a health product.
• They are also the first to initiate in-house Motor Assessors (IMAs)

Benefits of Availing Royal Sundaram Health Insurance Plans

Royal Sundaram Health Insurance offers numerous benefits. The prominent among them include:

• The policy offers free health check-up after 4 claim-less years.
• NCB of 5 to 50% is offered for each year of claim free policy.
• The waiting period is just 3 years, after which you get covered for already existing diseases.
• 5000+ network hospitals are available for cashless treatment.
• Allow coverage for 147 days of daycare procedure.
• Pre, post hospitalizations are covered.
• Lifelong renewability is allowed.
• Cumulative bonus of 5 – 50% is allowed for claim free years.

Health Insurance Plans by Royal Sundaram Health Insurance Company

Here are some of the top Royal Sundaram Health Insurance Plans:

1. Royal Sundaram Lifeline Supreme Health Insurance

This insurance plan comes with a sum insured amount of Rupees. 50 lakhs and is available for individual as well as family floaters. Here are some details:

• Plan type –  Individual & Floater
• Entry Age (Adults) – 18 years
• Children – 91 days (gets covered up to 25 years)
• Sum insured – Rs. 5 lakh – Rs. 50 Lakh
• NCB – 20 – 100 %

Features:

• The insured person can obtain a second cover on medical opinion for 11 critical diseases.
• The policy compensates costs incurred on domestic evacuation during a crisis.
• It covers ambulance charges up to Rs. 5,000.
• Covers for organ donation costs till the limit of sum insured.
• 20 – 100% NCB or no claim benefit is available for every claim free year.
• Covers Domiciliary hospitalization costs.
• Covers AYUSH Treatment costs in government hospitals.
• Covers annual check-up on health.
• Cover of up to 1 lakh rupees for domestic evacuation is available

2. Royal Sundaram Lifeline Elite Health Insurance

This is a comprehensive plan that offers benefits of all-inclusive health insurance coverage including emergency cover, critical illness cover and so on.

• Plan type –  Individual & Floater
• Entry Age (Adults) – 18 years
• Children – 91 days (gets covered up to 25 years)
• Sum insured – Rs. 25 lakh – Rs. 1 Crore
• NCB – 20 – 100 %

Features:

• The plan offers the option to incorporate Worldwide Hospitalization for Emergency in Canada and the US for receiving treatment Internationally for 11 critical diseases.
• Covers ambulance charges.
• Maternity protection is allowed for up to 2 children. Care of the newborn is also offered for up to 25% for one year.
• Offers worldwide hospitalization for emergencies.
• NCB is available between 20 – 100% for claim free years.
• Cover pre and post hospitalization of 60 days and 180 days respectively.
• AYUSH Treatment costs in government clinics is also covered

3. Royal Sundaram Lifeline Classic Health Insurance

This plan is available for anyone above 18 years of age.

• Plan Type -Individual/Family floater
• Entry Age – 18 years (adults)
• Children – 91 days (gets covered up to 25 years)
• NCB – 10 – 50%

Features:

• Covers for inpatient costs of hospitalization including nursing charges, staying/room costs, OT and ICU costs, doctor fees, vaccine costs, medicines and so on.
• Pre and post hospitalization costs are covered for 30 days and 60 days respectively.
• Domiciliary costs are covered.
• AYUSH Treatment costs covered in government clinics.
• Yearly health check-up is allowed after 3-years.
• Daycare treatment costs are covered.

4. Royal Sundaram Family Plus Health Insurance Plan

This is a comprehensive Royal Sundaram health insurance policy suitable for large Indian families. It is available with affordable premium costs offering coverage up to 19 members in a family.

• Plan Type -Individual/Family floater
• Entry Age – 18 years (Adults)
• Children – 91 days (no upper age limit)
• NCB – 20 – 100%
• Sum Insured (Individual) –  2 – 15 lakhs
• Sum Insured (Family) – 3 – 50 lakhs

Features:

• Up to 19 members of the same family can be covered.
• Pregnancy coverage (till 2 deliveries) covered under the plan.
• Covers base sum insured restoration.
• For every 5 years of claim-free policy, the insured avails the facility of doubling the amount of base sum cover.
• Ayush treatment costs are covered, domiciliary charges are covered, organ donation costs covered, hospitalization costs covered, ambulance costs covered.
• Covers second health opinion for as many as 11 critical diseases.
• Covers for evacuation in case of emergency domestic cases for over Rs. 1 lakh.
• Health and wellness program offered.

5. Royal Sundaram Hospital Cash Allowance

This plan covers additional charges such as commuting expenses to and fro hospital, patients food, attendants lodging and so on. This plan can be bought as an add-on with a basic health plan. With this plan, you get the Royal Sundaram health insurance renewal option of lifelong renewal.

• Plan Type -Individual/Family floater
• Renewability – Lifelong
• Age Criteria – 1 – 65 years

Features:

• Covers insured, his/her spouse along with dependent children and parents.
• Offers 10% discount on premium if you have 3 and above members under the plan.
• It offers accident reimbursements with double cash benefits.
• Offers triple cash advantage for emergency ICU admission.
• Offer coverage for health treatment and for surgeries.

How to buy Royal Sundaram Health Insurance Policy

You can follow the steps below to buy a Royal Sundaram medical insurance policy online:

• Visit the portal of the insurer.
• Click on the ‘buy health insurance’ tab.
• Select ‘Gender’
• Submit personal details (Name, Mobile Number) after selecting Gender.
• You will receive an OPT on your mobile.
• Enter OTP received on your phone.
• ‘View Quotes’ by clicking on the appropriate button.
• Select number of family members to be added under the plan. (for family floater plans)
• 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.

The process of Renew of Royal Sundaram Health Insurance Plans

Below are the steps to be followed for Royal Sundaram policy renewal:

• Go to the website of the Insurance company.
• Click on the ‘Renew’ tab on the home page.
• Submit policy details.
• Choose the quote that suits you aptly.
• Make the payment online.
• Your policy is renewed and you will get a confirmation on your email ID that is registered with the insurer.

How to File a Royal Sundaram Health Insurance Claim?

There are 2 ways to file a claim for Royal Sundaram Health Policy:

1. Reimbursement Claims, and

2. Cashless Claims

Below are the steps to be followed to claim a Royal Sundaram Health insurance through reimbursement process.

Reimbursement Claim:

• The insured has to pay the hospital bills on his/her own at the time of discharge from the hospital.
• Once discharged, the insured should fill and submit a properly signed reimbursement form within 30 days of discharge.
• Also, submit original documents, bills etc. received from the hospital to the insurance provider.
• The claim can be approved by the insurer or can be denied depending on terms of the policy.
• If rejected, the insurer informs the insured about the same within 7 days.
• If approved, the amount is paid by the insurer.

Cashless Claim: 

Here are the steps to proceed in case of cashless Royal Sundaram mediclaim process:

• Go to a network hospital of Royal Sundaram and inform the TPA in advance (for planned hospitalization)
• For emergency, inform TPA within 24 hours of getting admitted to the hospital.
• Fill in the form to avail cashless treatment claim and submit it to the TPA.
• In case the claim is rejected or any discrepancy takes place, the insurer will inform the insured within 4 hours.
• If approved, the treatment will start shortly after the form gets approved.
• If the form gets rejected, the insurer informs the insured within two hours.

Royal Sundaram Health Insurance – Claim Settlement Ratio  

Claim Settlement Ratio is 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.

The claim settlement ratio of Royal Sundaram for the financial year 2018-19 was 77.32%, while it was 81.50% for the financial year 2019-20.

Also read: Health Insurance Tax Benefits Under Section 80D

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