New India Family Floater Mediclaim Policy

New India Family Floater Mediclaim policy is ideal for those who wish to insure all the members of his or her family during the tenure of the policy. The policy and maximum two dependent children. Minimum sum assured is Rs.2 lakh and the sum assured can go up to a maximum of Rs.5 lakh. There is no age limit set for renewal of the policy and, as an added benefit, you can also avail tax benefits under Section 80D of the Income Tax Act.

Features & Benefits of New India Family Floater Mediclaim policy:

Entry age Minimum age – 18 years Maximum age – 60 years
Policy term 1 year
Sum insured Minimum: Rs.2 lakh Maximum: Rs.5 lakh
Premium The basic premium is as per the highest age of the family member. 50% loading for covering spouse 25% loading for each additional dependent child
Age limit for renewal There is no age limit for renewal, the health insurance policy has to be renewed within 30 days from the date of expiry.
Treatments covered Treatment for the following will be covered under this policy:
  • Appendectomy
  • Coronary angioplasty
  • Anti-rabies vaccination
  • Coronary angiography
  • Dilation and curettage of cervix
  • Dental surgery following an accident
  • Fracture excluding hairline fracture
  • Eye surgery
  • Haemodialysis
  • Hysterectomy
  • Hydrocele
  • Gastrointestinal tract system
  • Inguinal, ventral, umbilical, femoral hernia, hysterectomy
  • Lithotripsy
  • Parental chemotherapy
  • Prostate
  • Piles
  • Sinusitis
  • Radiotherapy
  • Gall bladder stone, pancreas stone and stone in bile duct
  • Urinary tract system
  • tonsillectomy
Cancellation The policy can be cancelled on the grounds of misrepresentation, fraud, non-disclosure, etc. The premium will be refunded and the rate of premium to be charged is as follows:
Risk period Rate of premium to be charged
Up to 1 month 1/4th of the annual rate
Up to 3 months Half of the annual rate
Up to 6 months 3/4th of the annual rate
Exceeding 6 months Full annual rate
Free look period You can return the policy in within 15 days from the date of receipt of the policy.
Claim The insurer can settle the claim within 30 days from the receipt of the necessary documents.
Tax benefits Payments made towards this policy in any mode other than cash is eligible for deduction from taxable income under section 80D of the Income Tax Act.
Other benefits You can avail the following benefits under this policy:
  • Good health discount
  • Loyalty discount
  • Cumulative bonus
Exclusions The following conditions or diseases will be excluded under this policy:
  • Pre-existing diseases
  • Illness contracted during the first 30 days from commencement date of the policy
  • Medical expenses arising out of:
  1. War
  2. Circumcision
  3. Cosmetic or aesthetic treatment
  4. Vaccination and inoculation
  5. Cost of braces, prosthetic devices, implants, spectacles, etc.
  6. Dental treatment not arising out of an accident
  7. Obesity treatment
  8. Bodily injury or sickness due to deliberate exposure to danger, while participating in criminal act or participating in any kind of hazardous sport
  9. STDs
  10. Diagnosis, x-ray or lab examination that doesn’t lead to you being hospitalised.
  11. Vitamins and tonics not forming a part for injury that is certified
  12. Maternity expense
  13. Naturopathy treatment
  14. Genetic disorder and stem cell implantation
  15. Instrument used in treating sleep apnea syndrome and continuous peritoneal ambulatory dialysis
  16. Domiciliary hospitalization
  17. Experimental treatment
  18. Treatment taken outside India
  19. Services charges other than those levied by hospital
  20. Treatment for age related macular degeneration, rotational field quantum magnetic resonance, external counter pulsation, enhanced external counter pulsation and hyperbaric oxygen therapy.
  • There is waiting period for the following diseases or conditions:
  1. 2 year waiting:
  1. Skin disorder
  2. Internal and external benign tumors
  3. Throat, ear, nose disorders
  4. Benign prostate hypertrophy
  5. Cataract and other age related ailments
  6. Diabetes
  7. Gastric ulcer
  8. Gout and rheumatism
  9. All types of hernia
  10. Hydrocele
  11. Hypertension
  12. Non infective arthritis
  13. Hysterectomy
  14. Piles, fistula and fissure
  15. Sinusitis
  16. Prolapsed inter vertebral disc that is not arising out of an accident
  17. Gall bladder stone
  18. Bile duct stone
  19. Stones in urinary systems
  20. Congenital internal disorders that are unknown
  21. Varicose veins and ulcers
  1. 4 year waiting:
  1. Age related osteoporosis and osteoarthritis
  2. Joint replacement due to degenerative condition

Disclaimer: Please read the terms, conditions and exclusions mentioned in the policy document before taking the policy.

Find cashless network hospitals nearby: New India Assurance Network Hospitals

Other Health Insurance Plans from New India Assurance:

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.

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