Bajaj Allianz is a joint venture between Bajaj Finserv Limited and european financial services company Allianz SE. The organisation offers insurance products for financial planning and security by incorporating the technical expertise and experience of Allianz SE with the market knowledge and goodwill of the Bajaj brand in India. Bajaj Allianz Life Insurance meets its customers needs by offering a wide variety of products ranging from ULIPs and child plans to group and health insurance. By combining global expertise with local experience, the company provides clients with customized products and transparent benefits, catering to every segment and age-income profiles.
Bajaj Allianz Health Insurance at a Glance
Total members covered
Coverage for a maximum of 6 family members with up to 2 adults and 4 children
Pre and Post Hospitalization cover
Medical expenses covered for 60 days before your hospitalization and 90 days for post hospitalization for related medical expenses
Health Check-ups
At the end of block of every continuous 4 claim free years, free medical checkup at the insurer's empanelled Diagnostic Centre
Critical Factors of the Plan
Co-Pay
10% co-payment for non-netwrok hospitals, this non-network hospital copayment is waived off on payment of 10% of loading on premium.
Life long renewable
Plans are lifelong renewable and covers you for your entire lifetime.
Pre-existing Diseases
Any pre-existing condition will be covered after a waiting period of 4 year
Room Rent
No Sub-limits applicable on room rent
Additional Features of Bajaj Allianz Health Insurance
Family discount of 10% is applicable.
cashless facility at over 3700+ empanelled hospitals across India.
Personal accident cover such as death,partial or total disability due to accident
Bajaj Allianz General Insurance Highlights Updated on 24 Sep 2017
| Features | Specifications |
| Network Hospitals | 3700+ |
| Waiting Period for Pre-existing Disease | 4 years |
| Incurred Claims Ratio | 74.94% |
| Number of Policies Issued | 435548 |
| Grievances Solved | 97.50% |
| Renewability | Lifetime |
*For Year 2015-2016
Overview
Bajaj Allianz General Insurance Company Limited is one of India’s most trusted and preferred insurance vendor. The company is a joint venture between Bajaj Finserv Limited and Allianz SE, two companies that have garnered a solid reputation for domain expertise, professional business practices, stability and foresight. Bajaj is a commonly known brand in India, while Allianz SE is a globally known entity that is commended for its technical expertise and path breaking initiatives. In the very short duration that Bajaj Allianz Life Insurance has been a part of the health insurance scene in India, it has earned a staunch fan following, alongside the title of a market leader and preferred health insurance option amongst the discerning local customer base.
Why Compare Bajaj Allianz Health Insurance Plans on BankBazaar?
Health Insurance Products from Bajaj Allianz
The company’s health insurance portfolio includes the following products-
- In the case of pre-existing diseases, a waiting period of 4 years will apply.
- Illness, injury or diseases contracted within 30 days from the commencement of the policy won’t be covered.
- Treatments consisting of non-allopathic medicine will not be covered.
- Certain diseases require a waiting period of 2 years before coverage, including hernia, piles, cataract and sinusitis.
- Coverage will not be extended for the following- Cosmetic, aesthetic or related treatments, treatments for use of intoxicating and/or addictive substances like alcohol, drugs etc.
- Joint replacement surgery that isn’t caused by an accident requires a waiting period of 4 years.
- Congenital external are excluded permanently. Congenital internal have waiting period of 4 years.
- Suicide, attempted suicide or self-inflicted injuries and illness.
- Injury sustained under the influence of alcohol and/or drugs.
- Injury sustained while indulging in anti-social or criminal activity.
- Participating in a wide range of dangerous sports.
- Curative treatments and interventions carried out on your body.
- Participation in any naval, military or air force operations leading to injury or illness.
- Your consequential losses of any kind or your actual or alleged legal liability.
- Acquired Immune Deficiency Syndrome (AIDS) and related sexually transmitted ailments.
- Pregnancy, childbirth, miscarriage, abortion, or complications arising out of any of these.
- Wartime conditions, nuclear energy, radiation etc.
- In the case of pre-existing diseases, a waiting period of 4 years will apply.
- Illness, injury or diseases contracted within 30 days from the commencement of the policy won’t be covered.
- Treatments consisting of non-allopathic medicine will not be covered.
- Certain diseases require a waiting period of 2 years before coverage, including hernia, piles, cataract and sinusitis.
- Coverage will not be extended for the following- Cosmetic, aesthetic or related treatments, treatments for use of intoxicating and/or addictive substances like alcohol, drugs etc.
- Joint replacement surgery that isn’t caused by an accident requires a waiting period of 4 years.
- Fertility procedures, impotence related, assisted conception operation or sterilization procedures.
- Critical Illness at the time of conception of the policy or diagnosed within 90 days from the start of the policy tenure.
- Death within 30 days from the point of diagnosis of the critical illness.
- Participation in any naval, military or air force operations leading to injury or illness.
- Your consequential losses of any kind or your actual or alleged legal liability.
- Acquired Immune Deficiency Syndrome (AIDS) and related sexually transmitted ailments.
- Pregnancy, childbirth, miscarriage, abortion, or complications arising out of any of these.
- Wartime conditions, nuclear energy, radiation etc.
- What is the difference between health insurance and life insurance?
- I already have an employer-sponsored health cover. Should I get my own policy?
- What is the importance of a pre-policy medical checkup?
- What is the general term for health insurance policies?
- What do you mean by coverage amount or sum insured?
- What if family members are staying in different places and want to be covered under the same policy?
- Are MRI, X-ray and other diagnostic charges covered by health insurance policies from Bajaj Allianz?
- What is Cashless Hospitalization?
- Is there a limit on number of health insurance policies for an individual?
- Is it possible to avail health insurance from Bajaj Allianz if I am not an Indian citizen but am staying in the country?
Health Guard Individual Policy
| Entry Age | 18 to 65 years; For Children- 3-25 years |
| Basis | Individual / Family floater |
| Cashless hospitalization | 3700+ partner hospitals across India |
| Policy Period | 1 year |
| Sum Assured | Ranges from Rs. 1.5 lakhs to Rs. 10 lakhs |
| Discounts | 10%. |
| Pre and post hospitalization expenses | Covers all mdical instances from 60 days prior to and 90 days after hospitalization. |
| Cumulative bonus | 10% for each claimless year, maximum upto 50% of insured sum |
| Free Health check-up | At the end of 4 continuous claim free years |
| Day Care procedures | 130 days covered |
| Ambulance charges | In emergency cases, to a limit of Rs.1000. |
| Income tax benefit | Under Section 80D of the Income Tax Act |
| Free Look Period | 15 days (Did not like the policy? Cancel the policy within 15 days for a complete refund) |
| Grace period | 30 days |
| Renewal | Life-time |
Health Guard Family Floater Option
| Entry Age | 18 to 65 years |
| Pre and post hospitalization | Covers all medical instances from 60 days prior to and 90 days after hospitalization. |
| Cumulative bonus | 10% for each claimless year, maximum up to 50% of insured sum |
| Medical test | Not mandatory for persons under the age of 45 years |
| Pre-policy checkup | The costs incurred will be reimbursed within 14 working days after the submission of all requisite documents. |
| Free Health check-up | End of 4 continuous claim free years, or reimbursement up to Rs.1000 |
| Day Care procedures | 130 Day covered |
| Ambulance charges | In emergency cases, to a limit of Rs.1000. |
| Cashless hospitalization | 3700+ partner hospitals across India |
| Income tax benefit | Under Section 80D of the Income Tax Act |
| Free Look Period | 15 days- Did not like the policy? Cancel the policy within 15 days for a complete refund. |
| Grace period | 30 days |
| Exclusions |
|
Surgical Protection Plan
| Sum insured | Rs.1 lakh- 10 lakh |
| cashless hospitalization | 3700+ partner hospitals across India |
| Complete coverage | 600+ surgeries, with guaranteed benefit amount |
| Free Look Period | 15 days(Cancel the policy within 15 days for a complete refund) |
| Grace period | 30 days for every subsequent instance of policy renewal |
| Income tax benefit | Section 80D of the Income Tax Act |
| Medical test | Not mandatory for persons under the age of 45 years. |
| Additional covers | |
| Hospital Cash Daily Allowance | |
| 24 hours hospitalisation | Rs.1500/per day is allocated. |
| Maximum period | 30 days |
| In case of admission in ICU | The benefit payable would be double, i.e., Rs.3000/day, ax for 15 days |
| Exclusions | Use of intoxicant substances like drugs and/or alcohol, War or act of war, nuclear, chemical or biological weapon and radiation of any kind, Non-allopathic treatment, Cosmetic or aesthetic treatments, self-injury, Fertility, sub fertility, impotence, assisted conception operation or sterilization procedures and treatments related to weight reduction programs |
| Critical Illness | |
| Comprehensive cover | 15 critical illnesses |
| Survival Period | 30 days |
| Coverage Limit | Rs.1 Lakh |
| Exclusions | Preexisting illness, critical illness diagnosed within first 90 days from commencement of the policy, AIDS and related conditions |
| Personal Accident | |
| Sum insured | Covers 100%, amounting to Rs.500000. |
| Compensation | 125% of sum insured amounting to Rs.625000(If Permanent Total Disability i) |
| Benefits for Children | For up to 2 dependent children,Children Education benefit of Rs.5000. Transportation benefits up to Rs.5000. |
| Exclusions | Suicide, attempted suicide or self-inflicted injury, breach of law with criminal intent, while engaging in dangerous sports activities and consequential losses of any kind or your actual or alleged legal liability. |
Premium Personal Guard Policy
A robust health insurance policy, the Premium Personal Guard covers the insured against bodily injury or death caused due to accident and offers high sum assured ranging from Rs.10-25 lakh.
| Cashless hospitalization | 3700+ partner hospitals across India |
| Entry Age | 18 to 65 years, For Children 5-21 years |
| Cumulative bonus | 10% for each claimless year, maximum up to 50% of insured sum |
| Medical test | Not mandatory for persons under the age of 45 years. |
| Income tax benefit | As per Section 80D of the Income Tax Act |
| Free Look Period | 15 days(Cancel the policy within 15 days for a complete refund) |
| Grace period | 30 days for every subsequent instance of policy renewal |
| Renewal | Lifetime |
| Exclusions |
|
Extra Care
This is a robust health insurance plan that allows you to extend your existing health insurance cover to compensate for special circumstances that may arise due to prolonged hospitalization.
| Cashless hospitalization | 3700+ partner hospitals across India |
| Entry Age | 3 months to 70 years |
| Renewal | Lifetime |
| Pre and post hospitalization expenses | Covers from 60 days prior to and 90 days after hospitalization |
| Premium Charges | Starts at Rs. 2500 |
| Medical test | Not mandatory for persons under the age of 55 years. |
| Free Look Period | 15 days(Cancel the policy within 15 days for a complete refund) |
| Grace period | 30 days for every subsequent instance of policy renewal |
| Exclusions |
|
Critical Illness
Insure yourself against the risk of critical illnesses just like you would insure your car or house. Be secure with the knowledge that you are prepared for all future medical eventualities.
| Entry Age | 6 to 65 years |
| Sum insured | Rs. 100000/- to Rs. 5000000/- for age group of 6 yrs. to 60 yrs. Rs. 100000/- to Rs. 500000/- for age group of 61 yrs. to 65 yrs. |
| Illness Covered | Cancer, Coronary Artery Bypass Surgery, First Heart Attack (Myocardial Infarction), Kidney Failure, Major Organ Transplant, Stroke, Aorta Graft Surgery, Primary Pulmonary Arterial Hypertension, Symptoms of primary pulmonary hypertension, Multiple Sclerosis, Paralysis of the limbs. |
| Exclusions |
|
Silver Health Plan for Senior Citizens
This is a health insurance plan that has been designed specifically for senior citizens. It offers the option to opt for up to 20% co-pay or a cashless policy.
| Entry Age | 46 years and 70 year |
| Renewal | Lifetime |
| Day care procedures | 130 days covered |
| Waiting period | 2 years |
| Covers | Pre and post hospitalisation expenses |
Bajaj Allianz Tax Gain Plan
Bajaj Allianz Tax Gain Plan is a unique scheme that Bajaj Allianz has introduced to save tax and gain OPD benefits at the same time. This unique product is loaded with benefits and is a Family floater health policy which covers both hospitalization expenses and outpatient (OPD) expenses under one policy.
| Entry Age | 56 years -75 years for Senior citizens plan Tax Gain 1999 Renewable up to 75 years. 18 years – 55 years for Tax Gain 4999, Tax Gain 9999 & Tax Gain 14999 Renewable up to 55 years. |
| Basis | Family floater(Self & Spouse) |
| Covers | Pre and post hospitalisation expenses, OPD expenses |
| Tax benefit | under section 80 D of IT Act |
| Free Health check-up | Available for every 4 claim free policy periods at designated Bajaj Allianz Empanelled. |
| Renewal Policy | Once four years continuous renewal is completed with Bajaj Allianz, all pre-existing diseases will be covered under the scheme. |
| Cashless facility | over 5000 hospitals across the country. |
| Ambulance charges | Up to Rs. 1000/- will be covered in this scheme. |
Find cashless network hospitals nearby: BAJAJ Allianz Health Insurance Network Hospitals
Also Read: How to File a Claim with Bajaj Allianz?
Also Read: Best Health Insurance Plans of 2017
Bajaj Allianz Health Insurance FAQs
Life insurance involves providing monetary support to a deceased insured’s family. Also, under certain plans, the policy holder gets a payout on survival till the maturity of the policy. Health insurance, on the other hand, covers expenses in case of hospitalization for treatment of health issues suffered by the customer. The customer doesn’t get any payout at maturity of the policy. Also, health insurance policies have to be renewed annually.
Private policies are important as job sponsored policies tend to lack continuity. If you change jobs, you will be exposed to risk during the transition period, and there’s the chance that your new employer won’t provide health insurance coverage. Also, as you switch jobs, your insurer will most likely change, and whatever track record you had built will be lost, if in case health insurance portability in not an option.
Employer sponsored covers offer limited coverage, while having your own policy allows you to cover not only yourself but your family as well. Also, riders can be opted for to enhance protection if employee group schemes do not provide comprehensive coverage.
For all customers above 45 years (lower limit may change depending on provider and plan) medical checkups are important to gauge the previous health issues suffered by customers so that they are provided coverage accordingly, implying that they may have to pay more premium when suffering some pre-existing diseases. For policy renewals medical checks are generally not required.
In general, health insurance policies are provided for 1 year time period (including Bajaj Allianz), though some firms also provide 2 year policies.
Also known as “sum assured” or “sum insured”, the final claim amount to be paid out is the coverage amount. Premiums vary according to sum assured.
Health insurance policies are applicable throughout India. In general, it is advisable to get insured in a place where there are network hospitals of the provider. This helps in getting cashless treatments at designated facilities. In case there are no network hospitals in your area, reimbursements are provided in due time.
All types of diagnostic tests are covered under your health insurance policy, as long as the costs are related to hospitalization of not less than 1 night. OPD prescribed diagnostic tests are usually not covered.
Cashless Hospitalization refers to the cashless settlement of hospitalization expenses, which are adjusted by a network hospital of Bajaj Allianz on the basis of the insurance policy without any cash being paid by the policyholder.
The settlements are done by authorized Third Party Administrators (TPA). Prior approvals are a must, except for cases of emergency where post approvals can be done.
There is no limit on the number of health insurance policies a person can take out. An individual may have two health insurance policies from different providers, and in case of hospitalization the overall costs will be split between them.
Yes, foreigners are allowed to avail health insurance policies from Bajaj Allianz with coverage limited to India.
Examples of Network Hospitals in Major Cities
| CITY | NAME OF HOSPITAL |
| DELHI | AMAR LEELA HOSPITAL (P) LTD |
| MUMBAI | GODREJ MEMORIAL HOSPITAL |
| KOLKATA | PEERLESS HOSPITAL AND B. K. ROY RESEARCH CENTRE |
| BANGALORE | SWATHI NURSING HOME |
| CHENNAI | SANKARA NETHRALAYA (A UNIT OF MEDICAL RESEARCH FOUNDATION) |
*Disclaimer - This is not an exhaustive list but an indicative representation of hospitals that form a part of the company's wider network.
News About Bajaj Allianz Health Insurance
-
Bajaj Allianz launches an All Women Branch initiative on the occasion of Women’s Day
On the occasion of Women’s Day, Bajaj Allianz GIC announced that it had created an All Women Branch initiative in an attempt to change the perception that insurance industry is not a popular services employer. This initiative is said to have carved women entrepreneurs, trained them, and groomed them to create specific skill set required to work in the insurance industry. Unlike other distribution models, the AWB model of Bajaj Allianz was introduced in 2014 and implemented in 2015. At present, the company boasts of a network of 31 branches in metros as well as tier-2 cities. There are 1,300 women agents working in these branches with 200 female employees employed with BAGIC.
Bajaj Allianz intends to expand this initiative to 50 offices by 2018-19 throughout India. Under this initiative, AWB branches are run by women, who recruit and train women for sale of insurance products. Some women have contributed more than Rs.50 lakh of business this year. According to Bajaj, this initiative has been introduced to tap into the large pool of talented women who were unable to work owing to time and family constraints. The company also said that it believes that women tend to bring in sustainable and long-term viable business, mostly in the terms of personal, health, and home insurance.
9th March 2017
-
Bajaj Allianz launches app for health insurance claims
Bajaj Allianz, one of the leading insurance companies in India has announced paperless app to expedite the settlement of health insurance claims. Reimbursement claims up to Rs.20,000 will be cleared within two days depending on the authenticity of information uploaded through the mobile application. At present, claims are processed after verification of documents submitted by the insured in hardcopy, and the entire process takes up to 10 days. The app also provides the option for primary intimation at the time of hospitalization. The app is available for download on play store.
17th January 2017
-
Poll survey states most people buy health insurance for tax benefits
A recent survey conducted by Bajaj Allianz revealed that most people who own a health insurance policy do so for the tax benefits arising from it. 76% of the respondents who had a policy claimed that they were attracted by the tax benefits while the rest purchased it for the financial protection offered. A majority of them had policies provided by their employer, while only one in three had a personal health insurance plan.
15th February 2016
-
Bajaj Allianz GI unveils ‘Health Guard’ Plan
India’s leading private non-life insurer, Bajaj Allianz General Insurance recently launched a revamped and comprehensive health insurance policy called the Health Guard which comes with a term extending up to 3 years. moving away from it’s predecessor, the new Health Guard Policy offers cover to a large number of people present under a single family such as parents, sister, brother, grandchildren, parents-in-law, aunt and uncle. Speaking on the event of the launch, Mr. Abhijeet Ghosh, Head of Bajaj Allianz General Insurance head-health insurance mentioned that this comprehensive health insurance policy will provide enhanced coverage at a very affordable price not only to an individual but also their extended family, catering to a wide range of medical conditions which one commonly faces or is at the risk of facing.
The policy also reinstates the sum assured amount for the same disease within the plan term and offers a number of unique added advantages such as convalescence benefit. Under this benefit, the insured is provided with a lump sum amount to cover the cost of essentials such as support equipment, nutritional supplements, etc. that are necessary when the patient is admitted for a duration of 10 days or beyond. Additionally, this policy will also offer a range of other covers like hospitalization expenses cover, cover for preventive health check-ups, daily cash benefit for accompanying an insured minor, organ donor expenses, road ambulance cover, maternity and newborn baby coverage.
13th January 2017
-
Awareness on Insurance through 20-day Campaign for Sabarimala Pilgrims
BAJAJ Allianz General Insurance now offers a special policy for Sabarimala Pilgrims. The new policy is launched in partner with Dhanlaxmi Bank along with a 20-day campaign for pilgrims in Kerala. The campaign is on from 3 December to 23 December with on-the-spot cover for personal accident policies for just Rs 225.
You get a cover of up to Rs. 2.5 lakh in case of death due to accident and Rs 20,000 for costs incurred in case of any hospitalisation due to an accident. Lalitha Raman, Zonal Manager-South, Bajaj Allianz General Insurance said the new scheme is just a starting step towards increasing awareness of having an insurance, especially awareness on health insurance is still in the nascent stages among the public. She further added that this gives them an easy route to reach a huge public.
The insurance campaign will make its reach available in the form of a canter vehicle which will cover various cities in Kerala and would give on-the-spot Bajaj Allianz personal accident policies to the pilgrims. They would further have street plays to help realize the people the importance of having a health insurance policy.
10th December 2014
GST rate of 18% applicable for all financial services effective July 1, 2017.
Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.
