Religare Health Insurance Company Limited is a standalone health insurance provider which comprise three entities: Religare Enterprises Limited, a leading diversified financial services group based out of India, Union Bank of India & Corporation Bank. Religare Health Insurance offers health insurance and other products.
Religare Health Insurance at a Glance
Total members covered
Coverage for a maximum of 6 family members with up to 2 adults
Pre and Post Hospitalization cover
Medical expenses covered for 30 days before your hospitalization and 60 days for post hospitalization for related medical expenses
Annual health check-ups for insured members
Critical Factors of the Plan
No Co-Pay, so you don?t have to pay a fixed percentage of the hospital bill. Over 61yrs being insured by Religare for the first time have to pay 20% of the claim amount.
Life long renewable
Plans are lifelong renewable and covers you for your entire lifetime.
Any pre-existing condition will be covered after a waiting period of 4 years of continues coverage.
A cap of 1% of the cover amount per day as room rent for policies with coverage of Rs 3 to 4 lakhs. For covers of over Rs 5 lakhs, claim single private room rent.
Additional Features of Religare Health Insurance
No-claim bonus: 50% to 150% based on NCBS
Avail treatment anywhere in the world
Auto recharge of policy sum insured, if exhausted
Religare Health Insurance Highlights Updated on 20 Jul 2017
|Waiting Period for Pre-existing Disease||4 years|
|Incurred Claims Ratio||57.25%|
|Number of Policies Issued||222607|
*For Year 2015-2016
Religare Health Insurance Co. Ltd. is a stand-alone, Indian, health insurance company founded by Religare Enterprises Ltd. (REL), Union Bank of India and Corporation Bank.
REL is a financial services company providing solutions in the realms of insurance, investment and wealth management, lending and stock-broking. Headquartered in Delhi, this company benefits from the market knowledge of its promoters who are the founders of Fortis Hospitals (a highly reputed health care institution in the Indian health space).
Union Bank of India and Corporation Bank are both important, highly-networked public-sector institutions providing banking services to clients across different economic classes and geographical locations.
Religare Health Insurance Co. Ltd. brings to the Indian masses a number of interesting insurance solutions that provide for an individual’s personal as well as familial protection needs. The company deals primarily in life and health insurance.
How To Apply Religare Health Insurance Online?
Policies forming a part of the company’s health insurance product portfolio are listed below:
- Care Freedom
The main features to be considered in each of these policies are highlighted below:
A health insurance policy that focuses on letting you live your life the way you see fit, by minimizing the greatest worries people have – about health and wealth. Religare Health Freedom does not require any health check-ups or medical tests, and the waiting period for pre-existing diseases is just 2 years. There is no maximum entry age, and there are discounts on premiums for longer policy terms. The plan also has lifetime renewability. This policy offers excellent coverage for a wide range of medical conditions, in addition to pre and post hospitalization care, ambulance charges reimbursement and other reimbursements for non-medical related expenses. With three tenure options, three additional coverage options and the option of covering up to 6 people under the same policy, the Religare Care Freedom plan truly puts all your worries at rest.
Minimum: 90 Days for children and 18 years for adults
Rs. 3 Lakhs and Rs. 5 lakhs
Covers 170 day care procedures
Pre and post hospitalisation expenses
Tax benefits on premiums paid under section 80D
Annual check-ups for all adults covered by the plan
Recharge of sum assured without paying extra premiums
Can be taken as a family floater or an individual plan
This is a basic health insurance plan that offers the policyholder an affordable way to meet health care costs. It provides a lifetime cover for individuals and their families.
|Entry Age||91 days upwards; no maximum entry age.|
|Policy Period||1 yr.|
|Medical Screening||Individual or Family Floater|
|Basis||Individual or Family Floater|
|Sum Assured|| Rs.3, 4, 5, 7, 10, 15, 20, 25, 50 or 60 lakhs |
(Chosen coverage can be enhance at renewal)
No-claim Bonus: 50% to 150% ( Available with No Claim Bonus:- SUPER) increase in chosen sum assured for every claim-free year; awarded at renewal.
|Co-payment||20% Applicable on coverage option > 4 lakhs for entrants over 61 yrs|
|Coverage||- Inpatient hospitalisation expenses: |
Room charges: Up to 1% of sum assured or single private room charges depending on the chosen coverage;
ICU costs: Up to 2% of sum assured or actuals depending on the chosen coverage;
Medical Professional’s fees and other medical treatment costs: On actuals
- Pre/Post-hospitalisation: Up to 30 / 60 days respectively
- 170 day care procedures
- Daily Cash Allowance (up to 5 days): Rs.500 depending on the chosen coverage - Ambulance costs:
Rs.1,500 to Rs.3,000 per hospitalisation depending on the chosen coverage
- Domiciliary hospitalisation: up to 10% of the chosen sum assured - Donor’s hospitalisation expenses:
Rs.50,000 to Rs.3 lakhs depending on the chosen coverage
- Yearly medical-check costs
- Consultation costs for a second opinion depending on the chosen coverage
- Pre-existing diseases: after a 4 yr. waiting period
|Benefits||- Recharge of sum assured |
- Covers treatment globally
This serves as a top-up policy to a basic health plan. Coverage under a basic health policy may not be adequate and a holder may not wish to take on a new policy to supplement his requirement. In this case, a top-up allows customers the option of enhancing protection without adversely affecting his/her personal finances.
|Entry Age||1 day upwards; no maximum entry age|
|Medical Screening||Required for entrants over 45 yrs. for coverage options of Rs.15 lakhs and above.|
|Basis||Individual or Floater|
|Sum Assured|| Enhance 1: Rs.1 lakh to Rs.25 lakhs |
Enhance 2: Rs.6 lakhs to Rs.30 lakhs
(chosen sum assured can be enhanced on renewal)
Sum assured is arrived as a multiple of the chosen deductible.
|Deductible|| Enhance 1: Rs.1, 2, 3, 4 or 5 lakhs |
Enhance 2: Rs. 6, 7, 8, 9 or 10 lakhs
|Co-payment||20% on coverage of Rs.5 lakhs and above for entrants over 61 yrs.|
|Premium|| Loading - 15%, 30% or 50% based on underwriting. |
Group discount: 5% to 20% depending on number of members.
|Coverage||- Inpatient hospitalisation expenses: Up to chosen sum assured |
Room costs: For a single private room;
ICU, Doctor’s charges etc.: On actuals
- Organ Donor Hospitalisation Expenses: Up to chosen sum assured
- Pre/Post-hospitalisation expenses: Up to 30/60 days respectively
- 170 day care procedures
- Pre-existing diseases: After a 4 yr. waiting period
- Expert opinion
|Benefits||- Covers treatment globally - Option to convert to Comprehensive Health Insurance Plan, which doesn’t feature deductibles, after 4 successive yrs. of coverage|
Another variant of the health insurance plans on offer, this provides additional coverage targeting events generally excluded under basic plans i.e. Critical Illnesses. Treatment of these ailments can prove to be very expensive, going beyond the amounts due under a regular health policy.
|Entry Age||18 yrs. to 65 yrs.|
|Coverage||Lump sum payment on diagnosis/surgery irrespective of actual costs. |
- 20 Critical Illnesses:
Cancer, Renal Failure, MS, Benign Brain Tumor, Motor Neuron DIsorder, Terminal Lung Disease, Major
Organ Transplant, Heart Valve Replacement, CABG, Stroke, Paralysis, Myocardial Infarction,
Severe Burns, Coma, Blindness, Terminal Liver Disease, Bacterial Meningitis, Aplastic Anemia. The below are covered only until 50 yrs. of age.
Parkinson’s Disease, Alzheimer’s Disease
- Annual health-checks
- Consultation for a second opinion
|Add-on Covers|| In-built Accidental Death Cover: |
Lump sum payment in case of Death or Total Permanent Disablement resulting from an accident.
|Benefits||Child Education: Lump sum payment 10% of chosen sum assured; age of child limited to 24 yrs.|
Injury or ailments can arise due to accidental fallouts, in which case, the proposer or his/her family can run into a financial crisis. To provide protection to insured members in case of death or permanent disability caused by an accident, the company offers this plan, made affordable through a variety of coverage options.
|Entry Age||91 days to 70 yrs.; 24 yrs. for children|
|Sum Assured||Rs.15, 20, 25, 30 or 50 lakhs or Rs.1, 2 or 3 crores up to Rs.25 crores|
|Coverage||- Accidental Death: Chosen sum assured |
- Permanent Disablement (Total/Partial)
- Fractures: Rs.1 lakh to Rs.3 lakhs depending on chosen coverage
- Child Education: 10% of the chosen sum assured
- Major Diagnostic Tests: Rs.15,000 to Rs.50,000
- Disappearance (min.1 yr.): Chosen sum assured
- Mobility Cover: Rs.15,000 to Rs.50,000 depending on chosen coverage
- Burns: Rs.10 lakhs to Rs.25 lakhs depending on chosen coverage
- Daily Cash Allowance: Rs.500 (max. 5 days)
- Compassionate Visit - Rs.15,000 to Rs.50,000
- The following are covered only under coverage options of Rs.50 lakhs and above:
Ambulance costs: Up to Rs.5,000
Nursing Care: Rs.1,000 to Rs.1,500 per day (max.15 days) depending on chosen coverage
Reconstructive Surgery: Rs.10 lakhs to Rs.20 lakhs depending on chosen coverage
Repatriation of Mortal Remains: Rs.2% of chosen sum assured up to Rs.1 lakh.
|Benefits||Child Education in case of Death/Permanent Disablement|
A comprehensive health insurance package that targets pregnant women - giving them a shield against hospitalization expenses through pregnancy and also, addressing the varied maternity and health related expenditures through this delicate duration. This policy also has the new-born covered, from birth till the baby is 90 days old.
| Minimum Entry Age |
Maximum Entry Age
|Adult- 18 years, Child- 1 day, New Born Baby- 1 day |
Adult- 65 years, Child- 24 years, New Born Baby- 90 days
|Policy Period||3 years|
|Sum Assured||Rs. 3 lakhs to 5 lakhs|
|Cover Type||Individual or Family Floater|
|Co-Payment||20% of the claim amount per the policy, for entrants over the age of |
61. The rest will be paid by the company.
|Waiting Period||30 days for any illness (except accidents). |
9 months waiting for maternity for Joy Today.
24 months waiting period for maternity claims under Joy Tomorrow.
2 years for specific treatments/illness.
4 years in cases of pre-existing diseases.
30 days duration from policy expiry to renewal.
|Benefits||Avail cashless hospitalization at 4100+ network hospitals across India. Access combined benefits of hospitalization and maternity insurance. Just 9 Months waiting period for maternity claims. Enjoy 100% increment in sum insured with ‘No-Claim’ bonus. Comprehensive cover for new-born baby. Tax benefits & free look period of 15 days.|
|Exclusions||Diagnosis of any pre-existing ailment or injury that was diagnosed or |
contracted around 48hours before the issue of the policy, non-
allopathic treatment, expenses arising from self-inflicted injury,
attempted suicide, alcohol or drug use, AIDS, congenital diseases,
diseases contracted within the first month of the start of the policy
(except accidents), treatments relating to infertility and in-vitro
fertilisation, cost of spectacles/contact lenses, dental treatment etc.
Plans should be studied in totality i.e. apart from the key points of consideration mentioned above, the terms and conditions and exclusions should also be perused. The key outcome of insurance should always be protection for which coverage should be adequate.
*GST and other charges are to be factored in wherever applicable.
Find cashless network hospitals nearby: RELIGARE Cashless Network Hospitals
Also Read: How to File a Claim with Religare Health?
Also Read: Best Health Insurance Plans of 2017
Religare Health Insurance FAQs
- What are the benefits of buying health insurance?
- What is a network hospital?
- What is a health card?
- What is the meaning of cashless hospitalization? Does Religare Health Insurance provide it?
- What is the meaning of a premium?
- What do you mean by a family floater plan?
- How is the customer service at Religare Health Insurance?
- Can I correct the relationship in my policy document?
- Is it possible to increase or reduce the sum insured in the policy?
- Can I add and remove family members in my current policy?
- Can I change my date of birth, if it gets written incorrectly in the policy document?
- What are the formalities do I need to do get a claim?
With the help of health insurance, you can enjoy a number of benefits such as nursing care, surgeries, consultation fees, cashless hospitalization for more than 24 hours, consultation fees, diagnostic tests, hospital accommodation etc. Your health insurance provider will pay off the coast incurred in your entire treatment procedure.
A network hospital is a hospital with which your health insurance provider has tie up. In a network hospital, you can enjoy cashless treatment. Religare Health Insurance has tie up with many leading hospitals where you can enjoy cashless hospitalization.
It is a kind of identity card that your health insurance provider gives you. You need to show this card at the network hospital to get the benefits of health insurance policy.
Cashless hospitalization is a benefit you get from your health insurance provider under which your insurance company will pay for your hospitalization cost. Yes, Religare Health Insurance does provide cashless hospitalization.
A premium is the total amount of money you pay to your health insurance provider in return for the services it provides.
A family floater plan refers to a health insurance policy that includes your entire family under it. It is a customised policy to meet the health needs of your family.
Religare provides 24/7 customer support. You can call them at any time for any of your queries.
Yes, you can correct or rectify the relationship in your policy. Religare will do it after proper verification. However, it is subject to your declaration of relationship at the time of buying the policy.
It is not possible to reduce or increase the sum insured in the main policy during the tenure of the policy. However, you can do it at the time of renewal. It is subject to terms and conditions of the policy.
You can add and remove family members at the time of renewal of your policy, but not during the tenure of your policy. However, you can buy separate policy for separate members of your family.
Change in your DOB may affect your premium. For further details, you need to contact the nearest branch of Religare Health Insurance.
In order to enjoy a hassle-free completion of your claim settlement formalities, you can contact Religare’s customer help desk. Also, you can visit its 'Claims' webpage to know more about your particular insurance cover.
Examples of Network Hospitals in Major Cities
|CITY||NAME OF HOSPITAL|
|BANGALORE||K.R.Puram Super Speciality Hospital|
|KOLKATA||Ruby General Hospital|
|MUMBAI||Phoenix Hospitals Pvt Ltd.|
*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 Religare Health Insurance
Religare Health Insurance launches new campaign ‘It’s My Turn’
In view of promoting the importance of getting parents insured, Religare Health insurance has introduced a new campaign. With the central theme of ‘It’s My Turn’, the new campaign integrates with Care Freedom. The campaign has managed to generate great results across social media within few days of its launch.
The campaign has been created to establish the youth’s responsibility of taking care of their parents in their old age. During the three days of the pre-launch, around 26,749 Twitter impressions with an engagement of 1,335 responses were generated.
15th March 2016
Religare Heath to focus on corporate group insurance
Most health insurers are reducing their exposure to group and corporate insurance, as there is a huge loss ratio of 80%, and heavy competition with companies constantly undercutting each other’s prices.
Religare is one of the few insurers that focuses on preventative health care, providing free health check-ups, and marketing to the huge section of the society that is willing to pay a little more for a quality service portfolio. This is in the current scenario of insurers backing away from corporate and group insurance.
Going forward, the company plans to continue to focus on corporate group insurance, as its customer base currently stands at 2,500 companies – up from 1,600 companies just 9 months ago. The company will also rely heavily on technology to settle claims and provide authorizations in a faster and more efficient manner, and also to stay connected with its stakeholders.
11th January 2016
‘Care Freedom’ - New product by Religare
Religare Health Insurance has introduced a new product ‘Care Freedom’ that is specially designed for a large section of people who usually go uninsured. There is no maximum age for entry. Available for individuals or as a floater, this plan has discounts on longer policy terms of up to 3 years, with a lifelong renewal.
Speaking about the newly-launched product, Anuj Gulati, Managing Director (MD) and Chief Executive Officer (CEO), Religare Health Insurance, said that Care Freedom aims to bring maximum people under health cover. This is especially for people who are deprived of healthcare benefits.
The policy covers a range of costs including in-patient care (involving hospitalisation more than 24 hours) and specified day care treatments (involving less than 24 hours of hospitalisation) as well. It also covers pre-hospitalisation costs, such as medical examinations, tests and medication. Post-hospitalisation expenses such as follow-up visits, medication, and further confirmatory tests are also covered in the scheme.
With Care Freedom customers can avail cashless settlements and reimbursement claim settlements. The policies are exempted from the Income Tax Act and eligible for the tax benefits applicable to health insurance policies.
11th November 2015
Religare health insurance to get 100 crore from promoters in a joint venture!
Religare health insurance will get a funding of Rs.100 crore from promoters as a result of a joint venture between Religare, Union Bank and Corporation Bank.While Religare holds the majority stake at 90% in the joint venture, Corporation Bank and Union Bank own 5% each.The company which earned a gross income of a booming Rs.276 crore last financial year also boasts of a share capital of Rs.375 crore.The health insurance industry worth Rs.22,000 crore is expecting a growth of 20-25% on a every year basis.
16th July 2015
Report on Religare Health Insurance Premium by General Insurance Council
Anuj Gulati, Managing Director and Chief Executive of Religare Health Insurance reports that “We (Religare) have reported a gross written premium of Rs. 275.8 crore for the year 2014-15. We continue to invest in building a very strong service foundation for offering best-in-class services to our customers and distribution partners." This report arises amidst accounts of a growing standalone health insurance sector, which is reported to have grown at 30% to Rs.2,946 crore in financial year 2014-2015 (According to General Insurance Council data).
The IRDA, in the amended Insurance Act of 2015, recognizes health insurance as an independent vertical and has modified its regulations for the same. Policyholders will now be able to lock into premiums for a longer tenure, amidst rising medical inflation rates, to maintain health insurance benefits at an affordable cost. This helps insurers, too, as it ensures customer loyalty.
Religare Group CEO Shachindra Nath said in February this year that the new budget will “unleash India’s growth potential” with its rationalization of corporate taxes, deferment of GAAR rules, proposals to allow foreign investments, etc. Whether it will fix the country’s financial situation is yet to be seen, but it certainly seems to have done so in Religare’s case.
28th April 2015
‘JOY’, the New Health Insurance Policy from Religare
One of India’s premier health insurance companies, Religare Health Insurance Co Ltd (RHICL), has launched a brand new product that offers comprehensive cover for maternity and the new born child. Aptly named ‘JOY’, the policy offers a very minimal waiting period of 9 months for maternity related claims while also providing cover for the new born, right from birth till the child is 90 days old. Alongside these highlights, the policy offers many additional benefits that is sure to impress new parents and help them breathe easy in terms of the financial aspects attached to the health of an expectant mother and her new born child. With the launch of ‘JOY’, Religare Health Insurance has hiked up its product count in the retail segment to six. Currently, the company offers five health insurance products including Care- Comprehensive Health Insurance, Assure- Critical Illness & Personal Accident Cover, Secure- Personal Accident Cover, Enhance- High Deductible Health Insurance Plan and Explore - International Travel Insurance.
9th January 2015
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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.