What is Chola MS Tax Plus Healthline
The Chola MS Tax Plus Healthline is a health insurance policy that covers hospitalization as well as the non-hospitalization expenses of the insured. It includes fixed premium options. This Healthline insurance policy also covers the cost of Outpatient Department Treatments (OPD), unlike other standard health insurance policies.
Eligibility Criteria
| Particulars | Details |
| Entry Age | Min: 18 years
Max: 65 years |
| Entry Age for Children in Family Floater Plan | Min: 3 months
Max: 35 years (for a female child) 25 years (for a male child) |
| Policy Tenure | 1 year |
| Sum Assured | Rs. 1 lakh to Rs. 5 lakh |
| Policy Renewal Period | Lifetime Renewal |
What all Chola MS Tax Plus Healthline plan covers?
- Hospitalization coverage including room rent, day-care procedures, ambulance charges
- Non-hospitalization coverage including treatment of injury occurred without hospitalization, all pre-existing diseases, dental treatments, etc.
- The expenses for pre-natal and post-natal treatments are covered
Claim Process for Chola MS Tax Plus Healthline
- For day-care treatments or a planned hospitalization, you need to intimate the insurance company so as to receive pre-authorization for the same
- In the incidence of emergency hospitalization, you need to intimate the insurer at the earliest possible
- You can claim for Outpatient Department Treatment (OPD) two times in one policy year. However, you will have to submit necessary documents like prescriptions, original copy of bills, reports, etc. along with the claim form. Also, you can claim for OPD in the first policy year only after 90 days waiting period
As mentioned above, if you are paying off your bills from your own pockets, you can claim for reimbursement if your treatment is covered under the insurance terms. Below mentioned are the documents required for claiming for reimbursement:
- Duly filled and signed the claim form
- Doctor’s prescription advising for hospitalization
- Document of discharge from the hospital
- Receipt for the bills paid for the treatment
- Bills of the medicines bought for the treatment
- Consultation documents
- Final hospital bill
- All other supporting documents
Cases where you can’t claim this policy
Below mentioned are the permanent exclusions of this Healthline plan from Chola MS:
- No coverage is offered for pre-existing conditions for the first four policy years.
- 30 days waiting period applies to all claims made except for accidental claims.
- Any surgeries mentioned in the inclusions of the policy during the first policy year will be considered as pre-existing conditions and will be covered only after 4 policy years.
- Any potential illness mentioned in the policy terms arise during the first two policy years, no coverage will be provided until the completion of 4 policy years as it will be considered as pre-existing conditions.
How long does it take to pay out the claim?
Chola MS Health Insurance is known to settle claims in a quick and hassle-free manner. The company has set its record by settling claims in just 15 days from the date of claim request. The only prerequisite for this is that the documents submitted as well as the reason for claiming the money must not be fraudulent.
For cashless claims, this time shrinks to 3 hours of intimating the valid request
Renewal Process
This health policy by Chola MS offers its customers with lifelong renewal which leads to no maximum policy ceasing age. A 30 days grace period shall be offered for policy renewal. No claims will be payable during this grace period.
Also, at the time of renewal, you can change the sum insured which depends on the application sent by you and further acceptance of the same by the insurance company.
Advantages of buying Chola MS Tax Plus Healthline
Below mentioned are the benefits of availing the Chola MS Tax Plus Healthline:
- All pre-existing conditions are covered under this health insurance plan
- Any dental treatment is included under the coverage of this Healthline policy
- Expenses induced for contact lenses, spectacles, hearing aids, and prosthetics are covered under the policy. However, you might need to provide the supporting documents like the doctor’s prescription
- No medical check-up for individuals below the age of 55 years
- Tax deductions for up to Rs 35,000 applicable under this policy. Here, tax deductions for individual, spouse, and children will be up to Rs. 15,000 whereas for parents above 60 years of age, it can go up to Rs. 20,000
- From the date of receipt, you can enjoy a 15 days free look period. During this period, you can opt to return the policy if you are not satisfied with the terms and conditions of the plan. However, you should not make any claim during this period if you wish to return the policy.
Important Aspects
There are certain points that should be taken into consideration while choosing any health plan and these apply to Chola MS Tax Plus Healthline.
- Make sure that the chosen plan has a quick and hassle-free claim process
- You need to check the waiting period of making claim in the health insurance plan based on your requirements
- Choose the sum insured as per your financial requirements as to whether you’d be able to afford it in the longer run or not
- Check for the coverage offered by the insurer like the pre-hospitalization expenses, post-hospitalization expenses, ambulance charges, etc.
- Check for the co-payment requirement of the family floater plan from your insurer. You need to know about the conditions at which you would need to make a co-payment as well as the amount you need to contribute
- Check for the bonuses, discounts, and other facilities offered by the insurer. You can always compare the health insurance plan offered by different insurers online
FAQs
Q1. What is the list of medical tests required?
For individuals below the age of 55 years, no medical tests are required. However, if you are above 55 years, the medical tests to be done are as follows:
- Complete Blood Count
- Medical Examination Report
- Electrocardiogram
- Fasting Blood Sugar report
- Liver Function Test report
- Complete Urine Examination report
- Renal Function Test report
If you carry the medical tests in the diagnosis center authorized by the insurer, 50% of the sum spent will be reimbursed after verification of the application of the policy.
Q2. How does the No Claim Bonus (NCB) work?
The NCB is applicable for every claim-free policy year. You will get a 5% discount on the premiums paid during policy renewal for the claim-free years. This discount can go up to 25%. However, NCB is not applicable for non-hospitalization coverage.