Royal Sundaram Alliance Insurance Company Limited is the first private sector general insurance company in India to be licensed since 2001 Royal Sundaram general insurance offers Motor, Health, Personal Accident and other products to individual customers. Royal Sundaram also offers specially designed products to the Small and Medium enterprises and Rural customers.
Royal Sundaram Health Insurance at a Glance
Total members covered
Coverage for a maximum of 5 family members
Pre and Post Hospitalization cover
Medical expenses covered for 30 days before your hospitalization and 60 days for post hospitalization for related medical expenses
Health Check-ups
Reimbursement of expenses, subject to a maximum of Rs.750/- per Insured Person, towards Master Health Check up for the Insured Person, after each 4 consecutive claim free years of the policy
Critical Factors of the Plan
Co-Pay
No Co-pay
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 3 year
Room Rent
Non ICU- 2% of Sum Insured, ICU- 4% of Sum Insured
Additional Features of Royal Sundaram Health Insurance
Get Cumulative bonus for every claim free years from 5% up to 50 %
Cashless hospitalization at over 3000+ network hospitals
Royal Sundaram Health Insurance Highlights Updated on 23 Sep 2017
| Features | Specifications |
| Network Hospitals | 3000+ |
| Waiting Period for Pre-existing Disease | 3 years |
| Incurred Claims Ratio | 58.57% |
| Number of Policies Issued | 181827 |
| Grievances Solved | 99.16% |
| Renewability | Lifetime |
*For Year 2015-2016
Royal Sundaram Alliance Insurance Co. Ltd., India’s first private insurer (promoted by Sundaram Finance and RSA) began operations in the year 2001. It has grown tremendously over the years to become a leading player in the Indian insurance industry.
Their product portfolio comprises various product lines ranging from auto to home insurance on the personal front and fire to engineering to liability insurance on the corporate front.
Royal Sundaram was responsible for introducing many innovative services/offerings which, today, have become the norm for most insurance companies e.g. cashless claims processes, cash allowances for hospitalisation and value-add partnerships with top institutions to extend market reach.
Their efforts have led them to create a customer-base of over 5 million clients, who are provided superior customer service through a multi-channel distribution network of agents, institutional tie-ups, brokers etc. The company’s presence is felt in over 180 cities nationwide.
As part of its health insurance segment, the company offers the following policies:
- Family Good Health
- Smart Cash Plan
- Lifeline Health Insurance
Family Good Health
A health insurance policy which serves to provide financial protection to the proposer and his family, including dependant parents, economically and adequately.
| Entry Age | 91 days to 21 yrs |
| Policy Period | 1 or 2 yrs. |
| Renewability | Lifetime |
| Medical Screening | Required for entrants over 50 yrs. Dependent parents up to 65 yrs. |
| Basis | Floater - (family includes self, spouse, dependent children and parents) - Up to 2 adults and up to 3 children |
| Sum Assured | Rs.2, 3 or 4 lakhs Cumulative Bonus: 5% - 50% on renewal fpr every claim-free year |
| Premium | Based on the oldest insured member 1 yr. policy: Rs.3,341 to Rs.33,403 2 yr. policy: Rs.6,348 to Rs.63,466 |
| Coverage | - Inpatient hospitalisation expenses: Room charges, Fees of medical professionals, cost of / charges for equipment and supplies, cost of consumables, OT charges etc. - Pre/Post-hospitalisation expenses: Up to 30/60 days respectively - Pre-existing diseases: After a 4 yr. waiting period - Daily Cash Allowance: Rs.500 per day of hospitalisation (max. 20 days per insured member, subject to an overall limit of 60 days for all members) - Convalescence Benefit - For hospitalisation beyond 21 days: Up to Rs.10,000 per insured member (overall limit Rs.20,000 for all members) - Specified day care procedures - Ambulance costs: Up to Rs.1,000 per hospitalisation - Health-check costs: Up to Rs.750 per insured member after 4 successive claim-free years |
Royal Sundaram Smart Cash Plan:
The Smart Cash Plan offered by Royal Sundaram General Insurance Company takes care of your daily expenses incurred in transportation, food, patient’s attendance, guest accommodation, etc. This is daily cash benefit plan. The plan is particularly designed to cover your out of pocket expenses in treating injury or illnesses. The Smart Cash Plan comes with three variants namely - Silver, Gold and Platinum.
The Smart Cash Plan comes with a host of attractive feature and benefits such as tax benefits, hospitalization benefits, emergency flight tickets reimbursement and a grace period of 30 days to name a few. The plan provides cover for Hospitalization, Join Hospitalization, ICU charges, Critical Illnesses, Childbirth, Guest expenses, Food expenses, Travel expenses and expenses incurred in Emergency Family Member visit. This is an individual plan, but you can include children, spouse, parents, dependents and self under this plan. Also, it provides cover for childbirth and maternity related expenses.
The minimum entry age required for the Smart Cash Plan is 91 days. The maximum entry age for the same is 70 years (applicable for Gold and Platinum variant). There is no maximum entry age applicable for Silver Smart Cash policyholders. The maximum sum insured under this plan varies between Silver, Gold and Platinum. No exit age is applicable for this plan.
Lifeline Health Insurance
This is a health insurance policy that can be taken as an individual plan or as a family floater plan to secure health insurance benefits for the entire family. It has 3 variants that offer slightly different features to policyholders.
| Classic | Supreme | Elite | |
| Basis | Individual Family Floater - Self, spouse and dependent children - Maximum 2 adults and up to 4 children | Individual Family Floater - Self, spouse and dependent children - Maximum 2 adults and up to 4 children | Individual Family Floater - Self, spouse and dependent children - Maximum 2 adults and up to 4 children |
| Entry Age | Minimum 18 Year, No Maximum. For dependent children under the family floater plan the age should be between 91 days and 25 years old. | Minimum 18 Year, No Maximum. For dependent children under the family floater plan the age should be between 91 days and 25 years old. | Minimum 18 Year, No Maximum. For dependent children under the family floater plan the age should be between 91 days and 25 years old. |
| Policy Period | 1,2 or 3 years | 1,2 or 3 years | 1,2 or 3 years |
| Sum Assured | Rs. 2 lakhs to Rs. 5 lakhs | Rs. 5 lakhs to Rs. 50 lakhs | Rs. 25 lakhs to Rs. 1 crore |
| Renewability | Lifetime | Lifetime | Lifetime |
| Number Of People Covered | Up to 6 for family floater plans | Up to 6 for family floater plans | Up to 6 for family floater plans |
| Medical Screening | None in case of no pre-existing diseases | None in case of no pre-existing diseases | None in case of no pre-existing diseases |
| Coverage | Inpatient Care Pre and post hospitalization expenses: 30 to 60 days up to sum insured Domiciliary hospitalization All day care procedures Ambulance cover: Up to Rs. 3,000 Organ donor expenses Cover for Ayurveda, Yoga, Unani, Siddha, and Homeopathy treatment up to Rs. 20,000 Animal bite vaccination covered up to Rs. 2,500 Hosptial cash for 30 days if hospitalized for more than 2 days: Rs. 1000 per day Re-load of sum insured without having to pay premium again. Preventive healthcare | Inpatient Care Pre and post hospitalization expenses: 60 to 90 days up to sum insured Domiciliary hospitalization All day care procedures Ambulance cover: Up to Rs. 5,000 Organ donor expenses Cover for Ayurveda, Yoga, Unani, Siddha, and Homeopathy treatment up to Rs. 30,000 Animal bite vaccination covered up to Rs. 5,000 Emergency domestic evacuation covered up to Rs. 1 lakh Hosptial cash for 30 days if hospitalized for more than 2 days: Rs. 2,000 per day Re-load of sum insured without having to pay premium again. Preventive healthcare |
Inpatient Care Pre and post hospitalization expenses: 60 to 180 days up to sum insured Domiciliary hospitalization All day care procedures Ambulance cover: Up to Rs. 10,000 Organ donor expenses Cover for Ayurveda, Yoga, Unani, Siddha, and Homeopathy treatment up to Rs. 50,000 Animal bite vaccination covered up to Rs. 7,500 Emergency domestic evacuation covered up to Rs. 3 lakhs Hosptial cash for 30 days if hospitalized for more than 2 days: Rs. 5,000 per day Re-load of sum insured without having to pay premium again. Preventive healthcare Emergency hospitalization abroad: Rs 20 lakhs. Comes with a deductable of $1,000 per hospitalisation Out patient department treatment covered up to Rs. 10,000 Maternity cover for 2 deliveries: Rs. 2 lakhs for sum insured up to Rs. 50 lakhs and Rs. 2.5 lakhs for sum insured more than Rs. 50 lakhs |
| No Claim Bonus | 10% of the sum insured subject to a max of 50% of sum insured | 20% of the sum insured subject to a maximum of 100% of sum insured | 20% of the sum insured subject to a max of 100% of sum insured |
| Treatment Outside India | Not covered | Not covered | Option to avail treatment abroad. Also covers treatment of 11 critical illnesses abroad. |
Also Read: How to File a Claim with Royal Sundaram?
Also Read: Best Health Insurance Plans of 2017
Royal Sundaram Health Insurance FAQs
- Why should I choose a Royal Sundaram Health Insurance policy?
- Minimal documentation and no requirement for pre-screening medical tests for customers up to 50 years of age.
- Coverage for pre-existing diseases after four years of continuous coverage under Royal Sundaram.
- More than 3000+ network hospitals to avail cashless facilities.
- What are the types of health insurance plans are provided by Royal Sundaram under health insurance?
- Lifeline Insurance Plan
- Smart Cash Insurance
- Family Good Health Policy
- What is the difference between Cumulative Bonus and Indexation Benefit?
- What do you mean by Accident Hospitalization benefit?
- Are maternity benefits paid out by Royal Sundaram health insurance policies?
- Is it possible to get health insurance portability?
- What is the difference between Health Insurance and Hospital Cash?
- Can I buy Royal Sundaram Health Insurance policies online?
- When can i expect my pre-existing diseases to get covered?
Some of the advantages of being insured by Royal Sundaram Health Insurance are:
There are 3 types of health insurance plans available for Royal Sundaram customers:
The major difference here is that Cumulative Bonus is applicable only in case of a claim-free year. Indexation Benefit, on the other hand, is irrespective of claims made during the year. There is no reversal of Indexation Benefit unlike Cumulative Bonus.
The total insured sum is the maximum payable amount in case of hospitalization due to illness. However, hospitalization due to accidents are eligible for maximum cover of 150% of the insured amount.
In situations where your insured amount is exhausted due to hospitalization for treatment of illnesses, you will still have the excess 50% left for treatment emergency accidental injuries. This provides an added buffer towards unpredictable incidents.
With the ‘Total Care Plus’ plan, policyholders can receive maternity benefit after 3 years of continuous premium payments. Maternity benefits are also available for ‘Lifeline’ customers, if both spouses are covered under this plan and have been paying premiums for 3 years. ‘Hospital Cash’ plans do not provide coverage for maternity-related expenses.
Customers can choose health insurance portability, which is the ability to change to a different insurance provider from Royal Sundaram, by applying for the same at least 45 days before next renewal date.
Hospital Cash offers daily fixed benefits aimed at covering incidental expenses that normally don’t get covered by health insurance policies. As such, Hospital Cash is more of a supplementary plan to health plans.
Yes, you can buy policies directly from the company’s website. You can also get quotes and proceed with buying at a later time at your convenience.
Pre-existing diseases will be covered under health insurance policies from Royal Sundaram after 3 years of continuous premium payment.
Examples of Network Hospitals in Major Cities
| CITY | NAME OF HOSPITAL |
| DELHI | J P MEMORIAL HOSPITAL |
| MUMBAI | NATIONAL HOSPITAL & ICCU |
| KOLKATA | TATA MEDICAL CENTER |
| BANGALORE | CHAITANYA HOSPITAL |
| CHENNAI | LAXMI HOSPITAL |
*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 Royal Sundaram Health Insurance
-
Royal Sundaram General looking to increase business by 25%
Royal Sundaram General has made a 5-year growth plan to increase their income that comes from home, accident, and health insurance by 25%. The company is also looking to increase the income that’s coming in from their commercial line of business like engineering, property, and marine segments to 20% from 12%. The private company had earned Rs.200 crore last year and is projected to rake in Rs.220 crore at the end of this financial year. Motor insurance has been a major contributor to this income by raking in close to 75%. Royal Sundaram General has close to 20 products to offer and are now planning on bringing this number down to 10. This move is being made to make the products offered to make them more comprehensive.
18th January, 2017
-
StanChart customers get new health insurance product from Royal Sundaram
Standard Chartered Bank customers get a Royal Sundaram flagship health insurance product through bancassurance channel. Royal Sundaram is leveraging its partnership by offering a highly customisable lifeline suit health insurance product set with global benchmark and an exhaustive product knowledge to the corporate and retail customers of Standard Chartered bank. The cover has three sub plans that are Classic, Elite and Supreme with various benefits and premiums. The product will also cover the cost of taking second opinions of 11 critical illnesses.
13th January, 2016
-
RSA Offloads Stake in Royal Sundaram Insurance
At a time when most foreign insurance players are either trying to enter or enhance stakes in the Indian insurance market, RSA Group of UK has decided to sell its share in Royal Sundaram Alliance Insurance Co. Post RSA’s exit, Sundaram Finance will become the whole owner of the general insurance venture. RSA Group will receive Rs.450 crores for the sale of its entire holding i.e. 26% on completion of the transaction.
With the ordinance to raise FDI limits in the Indian insurance industry from 26% to 49% set to be ratified by the Parliament, more foreign participation was expected. Industry observers report many foreign players already having initiated discussions with the IRDAI (Insurance Regulatory and Development Authority of India) to invest in Indian insurance companies as a result of the ordinance. RSA Group’s exit is contrary to this trend. However, the company has explained its exit as part of its overall corporate strategy to strengthen focus on its core markets by divesting its position in non-core markets like India.
RSA Group and Sundaram Finance have been partners in Royal Sundaram Alliance Insurance Co. for 15 years. The insurance joint venture pioneered private insurance in India when it began operations in the year 2000 and has since established itself as a leader with an extensive reach in over 180 cities in India.
23rd February 2015
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.
