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Larson & Toubro Limited is the owner of the L&T General Health Insurance company. This company offers a variety of insurance policies not only for individuals but also for corporates as well.
Some of the other insurances that are offered by the company include motor insurance plans, home insurance plans and corporate insurance plans. The policies offered by L&T are all customer-centered, where the top priority of the company is to help and benefit their customers.
The policies that are sold by the company cover a wide range. There are a number of policies that include a number of coverages so that the customer can find the perfect policy for him/her. For example, even the health insurance policy has a number of sub-policies that cover the general health insurance of the customer along with added features.
L&T General Insurance Company has a strong position in the Indian health insurance industry because of the strong financial support that it has acquired. Some of the advantages of buying an L&T Health Insurance are as follows:
Insurance coverage for the entire family including two adults and two children are covered under the L&T Health Insurance coverage.
Pre-hospitlalization coverage for 30 days and post-hospitalization coverage up to 60 days in provided under the health insurance plan.
At the end of four continuous claim-free years, the family that is insured gets a free health checkup.
Unlimited hospital room rents.
These plans can cover an individual and his/her family for a lifetime as long as the plan is removed on a periodic basis
Those who are past the age of 80 years get a co-payment facility.
Claims assistance for policyholder is provided on a 24 x 7 basis. Customers can ask for help and other services anytime, anywhere.
Anyone who is above the age of 18 years can avail for an individual policy. Children between the ages of 3 months and 23 years can also be covered under the policy. There is not maximum age for applying to this plan. For critical illness coverage, the minimum age is 65 years.
Medisure Classic Insurance Plan: This plan has no age restriction for who can apply t it. Offering a sum insured of Rs. 1-5 lakh for individual policies and Rs. 2-5 lakh for floater policy. Even after the sum insured is exhausted of the plan, the sum insured of the policy is reinstated to the extent of the claim amount. The sum insured is doubled if the policyholder contracts a critical insurance that is specified in the contract.All pre-existing diseases of a person can be covered under the plan after a waiting period of three years. All hospital charges of the individual are covered under this plan. Policyholders can gain income tax rebate under section 80D of the Income Tax Act.
L&T Medisure Prime Insurance Policy: This plan covers the medical expenses of an individual 60 days before and 90 days after hospitalization. Emergency ambulance expenses are covered up to Rs. 1500 per hospitalization is also provided. Newborn coverage feature for a period of 90 days from the date of birth is covered. The premium that is applied to this health insurance plan varies from one city to another.No claims bonus discount is available for this plan. This discount varies from 10% and can go up to a maximum of 50 % depending on the number of claim-free years by the insurance holder.
L&T Medisure Super Top Up Insurance Plan: This plan has an increased amount of coverages that go beyond ordinary health insurance plans. Though providing more coverage options, the cost of the plan is fairly low compared to other plans. A premium for a Rs. 25 lakh cover with Rs. 5 lakh deductible can be provided to any person who is below the age of 35 years only at Rs. 2,420. Medical expenses for hospital is covered. Pre and post hospital expense are covered for 30 days and 60 days are also covered including emergency ambulance charges and day care procedures. A fixed premium is provided for this plan up to an age of 60 years.
L&T Medisure Plus Insurance Plan : This insurance plan provides coverage for grandparents, parents, children, siblings, in-laws, nieces as well as nephews. No additional cover for critical illnesses is required. Extended pre and post hospitalization coverage apart from the general one is also provided under this plan. The sum insured of the plan is reinstated. The health insurance policy has a free look period of 15 days from the date of receipt of the policy document. The customer can ask for a refund from the company if he/she is dissatisfied with the policy. Income Tax Benefit under section 80 D is also provided under the Income Tax Act.
L&T Medisure Personal Accident Insurance Plan: This plan covers the physical loss such as disablement and death of a person under the policy within a frame of 12 months from the actual accident. There are some benefits that are provided with additional premium such as:
The educational cost of the dependent children is covered in case of accidental death, loss or eyes or limbs or the permanent disablement of a person.
Once during the policy period, a compensation of Rs. 15,000 or 1% of the sum assured is provided due to the loss of employment.
Additional expenses such as the transportation, ambulance charges and the outpatient medical expenses are also covered.
The premium of the health insurance for a person who applies for L&T Health Insurance depends on the following factors:
An individual who is 30 years old wants a Rs. 5 Lakh insurance cover. Then the coverage premium amounts to be Rs. 9,439.
An individual wants to buy a plan for himself and his newly married wife as well. He wants a plan for Rs. 7 lakhs. The individual is 32 years old, and his wife is 30 years old. Then the premium for their health insurance combined us Rs. 18,256.
An individual who wants a health insurance plan that covers his family. His family comprising of him, his wife and two children. The individual's age is 43 years, his wife is 42, and their two children are 7 and 12 years respectively. The coverage is for Rs. 10 lakh and the premium that will be charged is Rs. 38, 984.
The claims process is a simple process with L&T Health Insurance. If any policyholder wishes to claim their insurance, they have to download the claims form that is present on the L&T website. The claims form has to be filled completely. This form, along with all relative documents such as hospital bills and receipts need to be submitted to the company.
Once the insurance company receives all the relevant documents that are needed for the claiming of one's insurance, they will evaluate them. The claims will be reimbursed to the customer within a maximum period of 30 days.