About New India Health Insurance

New India Assurance Co. Ltd. is a multinational general insurance company headquartered in Mumbai. The company has offices in over 27 countries through different channels and is known as a market leader in the non-life insurance industry in India. With its incorporation in 1919, it is one of the oldest insurance companies in India. It sells a vast portfolio of insurance plans to its customers. It covers the overall medical expenses of the policyholders, allowing them to concentrate on their recoveries.

With a market share of 18.48 and claim support of 91.99 %, the company has shown its strong presence in the insurance industry. The company provides health insurance plans that cover up to 6 family members and offers pre and post-hospitalization benefits along with a lifetime renewal benefit.

Awards and Achievements

• India Insurance Summit Award, 2018: General Insurance Company of the year
• India Insurance Summit Award 2018: Product Innovator of the year - Title Insurance Policy
• Golden Peacock Business Excellence Awards 2017
• India Insurance Summit - Insurance Company of the year, 2017

Key Features of New India Health Insurance

When it comes to your family, choosing the right health insurance company is very important. Unfortunately, most of us are not aware of our availed policies and due to the lack of awareness people tend to get confused and end up choosing the wrong policies.

To narrow down your search and to provide in-depth information about various health insurance plans, our research team at PolicyX.com has shortlisted top health insurance companies based on several factors such as network hospitals, market share, solvency ratio, and claim support (within 3 months).

New India health insurance is a trusted and popular health insurance company among customers. Let's have a quick glance at the key features of the company.

1. Network Hospitals

   New India Health Insurance endeavors to provide easily accessible quality healthcare to its customers by offering cashless health insurance at its 2500+ network hospitals. With cashless hospitalization, individuals and families do not need to pay any money from their pocket in case of medical emergencies. They can rather focus on getting quality treatment as medical expenses are directly managed by the insurer. However, checking network hospitals is an important factor while selecting an insurer as this will give you an idea of how easily you can avail of cashless facilities.

   Network hospitals of New India Health Insurance in comparison to other insurers are not that vast. Let's understand this with the help of a graph.

   Network Hospitals of New India Health Insurance and other insurers

   

   **Data from IRDAI Annual Report 2019-20

   Now, how will you get to know which network hospitals are empanelled in your nearby areas? If you want to check the New India Health Insurance Hospital list as per your state/region, you can visit the PolicyX.com network hospital page.

2. Market Share

   New India Health Insurance has witnessed significant growth in the last four years i.e., from 2016-20. As per the IRDAI Annual Report 2019-20, New India is among the top insurers in terms of annual gross premium i.e., Rs. 9381.78 Crores whereas during 2018-19, it was Rs. 8,241.20 Crore. The results indicate a good growth in the company's business volume. The higher business volume means greater sales, thus making New India a trusted insurer among its customers. It is also important to check how many companies match up to New India Insurance's market share.

   Annual Gross Premium of New India Health Insurance for FY 2016-20

   

   **Data from IRDAI Annual Reports

   New India Health Insurance commands an 18.48% market share in comparison to other companies. We have tabulated the best health insurance companies based on their gross direct premium, market share, claim support, and cashless facility.

   Market share of New India Health Insurance

   

   **Data from IRDAI Annual Report 2019-20

3. Solvency Ratio

   The solvency ratio helps assess the ability of a company to meet its financial and debt obligations. In simple words, it determines whether the cash flow is meeting the company's short and long-term liabilities or not. It is one of the important criteria that should be taken into consideration while selecting the insurers to buy a policy. The IRDAI has made it mandatory for all the insurers to have a healthy solvency ratio of at least 1.5 (Solvency margin - 150%). The solvency ratio of New India Health Insurance is 2.1 that fulfills the standards set by the IRDAI for a healthy solvency ratio.

   Let's take a look at the graph.

   Solvency Ratio of New India Health Insurance for FY 2016-20

   

   **Data from IRDAI Annual Reports

   As per the graph, New India has always matched the set standards of IRDAI, indicating that the insurer is financially sound and has a good ability to pay claims. Let's have a look at the quarterly solvency ratio of the company (i.e. June 2019 - Nov 2020) as published in the annual reports of IRDAI.

   Quarterly Solvency Ratio of New India Health Insurance 2019-20

   

   **Data from IRDAI Annual Report 2019-20

4. Claim Support (within 3 months)

   Claim support tells you the ability of a company to settle claims in the set time period and also helps you to understand the history of the insurer, thus ensuring that the company you select is reliable or not. As per IRDAI Annual reports, the claim support of New India Assurance Health Insurance is 91.99% which indicates that the company has the ability to settle your claims on time. Thus New India Health Insurance is a trustworthy company among customers.

   Claim support (within 3 months) of New India Health Insurance for FY 2016-20

   

   **Data from IRDAI Annual Reports

   Let's understand this with an example.

   Mr. Kishan availed health insurance from ABC insurer, but at the time of one of his family member's treatment, the insurer is unable to settle claims on time and this causes financial stress among the family burdens. Therefore, before opting for any plan, always ensure that its company's claim support (within 3 months) is good.

   Claim support (within 3 months) of New India and other general insurers 2019-20

   

   **Data from IRDAI Annual Report 2019-20

   We have summarized the key features in a tabular form. Go through the table and choose an insurance company wisely.

   Network Hospitals	2500+
   Annual Gross Premium 2019-20	9381.78 Crores
   Market Share	18.48 %
   Solvency Ratio	2.1
   Claim Support (within 3 months)	91.99

   **Last Updated on May, 2021

What Are The Different Types of New India Health Insurance Plans?

To cater to the different needs of an individual, New India comes up with 19 health insurance plans.

**Last Updated on May, 2021

Let's understand each plan in detail.

1. New India Assurance Arogya Sanjeevani Policy

   New India Assurance Arogya Sanjeevani Policy offers comprehensive coverage against medical expenses and can be purchased without any pre-acceptance medical checkup. One can cover self, spouse, children, parents, and parents-in-law under the policy.

   Eligibility:

   Entry Age	Adults: 18-65 years Children: 3 months-25 years
   Sum Insured	Rs 1-5 lakhs

   **Last Updated on May, 2021

   Features:

   • The policyholder is eligible to get a family discount of 5% (under Floater Sum Insured) for covering 2 or more members.
   • The plan offers coverage for cataract surgeries up to 25% of the sum insured (maximum Rs.40,000).
   • Any treatment for genetic disorders, mental illness, or HIV is also covered by the plan.

2. New India Group Cancer Medical Policy

   New India Group Cancer Medical Policy covers all the expenses related to inpatient or outpatient cancer treatment. The policy remains valid for one year from the date the insured becomes a member of the Indian Cancer Society and the risk shall commence from that date.

   Features:

   • The plan offers an increase in the sum insured by 5% concerning each completed year.
   • The company will not entertain any claim if filed within 30 days from the inception date of the plan.

3. New India Family Floater Mediclaim

   New India Family Floater Mediclaim offers coverage to the family members with one sum insured. The policy can be issued to the below family members:

   • Self
   • Spouse
   • Up to 2 dependent children

   Eligibility:

   Entry Age	18-60 years
   Sum Insured	Rs 2-5 lakhs

   **Last Updated on May, 2021

   Features:

   • The plan offers coverage (up to 25% of SI) against Ayurvedic/Homeopathic and Unani systems of medicine if treatment is taken in a government-registered hospital.
   • Pre and post-hospitalization expenses (30 and 60 days) are payable by the plan.
   • Pre-existing diseases are only covered after 4 continuous and claim-free policy years.

4. New India Family Mediclaim 2012

   The New India Family Mediclaim 2012 offers coverage against unforeseen hospitalization expenses to individuals and their family members between the age of 18 years and 65 years.

   Features:

   • You can cover your entire family (spouse, children & parents) to get a 10% discount on the total premium.
   • Individuals above 65 years of age can continue their insurance if they are insured under the policy without any break.

5. New India Jan Arogya Bima Policy

   New India Jan Arogya Policy provides medical coverage at economical premium prices. It is designed for the financially weaker section of society.

   Eligibility:

   Entry Age	5-70 years
   Sum Insured	Rs 5,000/person

   **Last Updated on May, 2021

   Features:

   • The policy covers (up to the sum insured) all the expenses related to room, boarding, nursing, blood, oxygen, and even surgeon, anesthetist, or specialist fees.
   • The policy looks after pre and post-hospitalization expenses (30 and 60 days)

6. New India Janata Mediclaim Policy

   New India Janata Mediclaim policy is ideal for those who wish to cover the entire family (self, spouse, dependent children, and dependent parents) under one policy.

   Features:

   • The policy covers the expenses of pre-hospitalization (up to 30 days), and post-hospitalization (up to 60 days), a maximum of 10% of the hospital bill.
   • Expenses incurred during AYUSH treatments are admissible up to 25% of the sum insured.
   • Intensive Care Unit (ICU) / Intensive Cardiac Care Unit (ICCU) expenses are also covered under this policy.

7. New India Asha Kiran Policy

   New India Asha Kiran policy is designed for parents who have a single girl child. It helps to tackle all the medical needs of the family.

   Eligibility:

   Entry Age	Adults: 18-65 years Daughters: 3 months-25 years
   Hospital cash benefit	0.1% of SI per day

   **Last Updated on May, 2021

   Features:

   • This policy covers the room rent expenses (up to 1% of the sum insured per day), and ICU charges (up to 2% of the sum insured per day).
   • The policy pays (Rs.50,000 or 10% of SI, whichever is less) for cataract treatment (per eye).
   • The policy also provides personal accident cover, which includes accidental death and disability cover.

8. New India Floater Mediclaim Policy

   New India Floater Mediclaim Policy offers coverage against unforeseen hospitalization expenses to the entire family under one sum insured. One can cover a maximum of 6 members under the New India health insurance plans for family

   Eligibility:

   Entry Age	Adults: 18-65 years
   Sum Assured	Rs. 2, 3, 5, 8, 10, 12 and 15 lakhs

   **Last Updated on May, 2021

   Features:

   • A newborn baby cover is provided by the plan.
   • The plan covers the expenses of 139 daycare procedures.
   • Cataract claims (Rs.50,000 or up to 10% of SI, whichever is less, for each eye) are covered by the plan.

9. New India Cancer Guard Policy

   New India Cancer Guard Policy offers coverage against all the expenses related to cancer treatment.

   Eligibility:

   Entry Age	3 months - 65 years
   Sum Assured	Rs. 5, 10, 15, 25 and 50 lakhs

   **Last Updated on May, 2021

   Features:

   The plan offers coverage for the following conventional and advanced treatment:

   • Chemotherapy
   • Radiotherapy
   • Organ transplant
   • Onco-surgery
   • Proton Treatment
   • Personalized & Targeted therapy
   • Hormonal Therapy or Endocrine manipulation
   • Immunotherapy including immunology agents
   • Stem cell transplantation
   • Bone marrow transplantation

   58-daycare treatments are covered under the plan.

   If you want to take a second opinion on your surgery with another medical practitioner, the plan will cover its expenses (up to Rs.5000).

10. New India Global Mediclaim Policy

    The New India Global Mediclaim Policy covers the global hospitalization expenses of an individual who already has health insurance with a sum insured of Rs. 8 lakhs and above. Individuals between 18-65 years can buy this policy.

    Features:

    • Under this policy, Cancer surgery, Neurosurgery, Coronary Artery Bypass Graft (CABG) Surgery, Heart Valve Surgery, Living Organ, and Bone Marrow transplants are covered.
    • The cost of a second medical opinion is covered.
    • A pre-medical test is mandatory to purchase the plan.

11. New India Premier Mediclaim Policy

    New India Premier Mediclaim Policy looks after the hospitalization bills of the insured, allowing him/her to rest completely without worrying about the expenses.

    Eligibility:

    Entry Age	18 - 65 years
    Maximum Members covered	Up to 6

    **Last Updated on May, 2021

    Features:

    The policy is available in two variants:

    • Plan A: Sum Insured of Rs. 15,00,000 and 25,00,000.
    • Plan B: Sum Insured of Rs. 50,00,000 and 100,00,000.

    A pre-acceptance medical check-up is not required till the age of 50 years.

    The plan provides a hospital cash benefit of Rs. 2,000 per day (for plan A) and Rs. 4,000 per day (for plan B) for any one illness.

12. New India Sixty Plus Mediclaim Policy

    New India Sixty Plus policy is designed for senior citizens. This policy will handle their medical expenses without giving them any financial trouble.

    Eligibility:

    Entry Age	60 years - 80 years
    Sum Assured	Rs. 2, 3, and 5 lakhs

    **Last Updated on May, 2021

    Features:

    • The plan offers coverage for pre & post-hospitalization expenses (30 days and 60 days respectively) up to the limit of 10% of the sum insured.
    • Get tax benefits under section 80D of the Income Tax Act, 1961.
    • If a single senior citizen woman is covered under this plan, a 5% off is given on the primary member's premium.

13. New India Top-up Mediclaim Policy

    New India Top-up Mediclaim Policy covers the hospitalization expenses once it exceeds the threshold limit. The plan can cover up to 6 family members (self, legal spouse, dependent children, and parents).

    Eligibility:

    Entry Age	18 - 65 years
    Sum Insured	Up to Rs. 22 lakhs

    **Last Updated on May, 2021

    Features:

    • AYUSH treatment expenses are covered under the plan.
    • The plan pays for cataract treatment expenses up to Rs.50,000 (per eye).
    • For pre-existing diseases, there is a waiting period of 48 months.

14. New India Senior Citizen Mediclaim Policy

    New India Senior Citizen Mediclaim policy is designed to provide medical coverage at an affordable premium to senior citizens between the age group of 60-80 years.

    Features:

    • The policy has a maximum age limit of 80 years, however, the policy can be extended beyond that if the policy is renewed without a break.
    • The policy covers all the hospitalization expenses, including those incurred 30 days before admission (up to 5% of hospital bills), and 60 days after discharge (up to 10% of hospital bills).
    • It also covers ambulance charges (maximum Rs.1000), and alternative treatments done for AYUSH (up to 25% of SI) in government-registered hospitals.

15. New India Tertiary Care Insurance

    New India Tertiary Care policy is designed for individuals to grant them coverage for hospitalization/domiciliary hospitalization expenses for nine major ailments.

    Features:

    The plan provides a cumulative bonus for every claim-free year.

    Pre and post-hospitalization expenses are covered by the policy.

    The nine listed ailments covered under this policy are:

    • Nephritis of any aetiology plus bacterial renal failure requiring kidney transplantation or dialysis
    • Cerebral or Vascular Strokes
    • Open and Closed Heart Surgery (inclusive of C.A.B.G)
    • Malignancy disease (confirmed on Histopathological report)
    • Encephalitis (Viral)
    • Neuro Surgery
    • Total Replacement of joints
    • Liver disorder (Hepatitis B & C) associated with complications like Cirrhosis of liver
    • Grievous injury including multiple fractures of long bones, head Injury leading to unconsciousness, burns of more than 40%, an injury requiring artificial ventilator support plus Vertebral Column injury.

16. New India Universal Health Insurance APL

    New India Universal Health Insurance APL offers coverage to the policyholder and provides reimbursement of the hospital expenses in case of illness or injury sustained.

    Features:

    • The policy covers individuals/families between the age of 3 months and 65 years.
    • The plan covers room and boarding expenses (up to 0.5% of SI per day).
    • Expenses for anesthesia, blood, oxygen, surgical appliances, OT charges, diagnostic material & X-Ray, medicines, drugs, artificial limbs, etc. are also covered up to 15% of SI per illness/injury.

17. New India Mediclaim Policy

    New India Mediclaim Policy offers coverage against the expenses incurred due to unforeseen hospitalization. The policy offers lifetime renewability, provided the policy is renewed on time.

    Eligibility:

    Entry Age	18 - 65 years
    Sum Insured	Up to Rs. 15 lakhs

    **Last Updated on May, 2021

    Features:

    • The policyholder is eligible for a health check-up after every 3 claim-free years.
    • The policy reimburses the ambulance charges (1% of SI).
    • AYUSH treatment expenses are also covered (up to 25% of the SI).
    • 139-daycare procedures are covered under this policy.

18. New India Group Mediclaim 2007

    New India Group Mediclaim 2007 looks after all the hospitalization expenses resulting from illness/injury.

    Features:

    • The plan offers coverage (1.0 % of the SI per day or actual, whichever is less) for the room, boarding, and nursing expenses.
    • Surgeons, medical practitioners, anesthetists, and specialists fees are covered under the plan.
    • The plan covers pre and post-hospitalization expenses for 30 & 60 days respectively.
    • AYUSH treatments undertaken in a government-recognized hospital are looked after (up to 25% of SI) by the plan.

19. New India Corona Kavach Policy

    Corona Kavach Policy is a single premium policy that can be bought by individuals to cover themselves from the expenses incurred during the treatment of COVID-19. This policy can be bought on an individual or family floater basis.

    Eligibility:

    Entry Age	Adults: 18-65 years
    Sum Insured	Rs. 50,000 - Rs. 5 lakhs
    Policy Tenure	3.5 months, 6.5 months and 9.5 months

    **Last Updated on May, 2021

    Features:

    • The policy looks after the ambulance charges (up to Rs.2000).
    • Expenses incurred against pre and post-hospitalization are covered (15 & 30 days).
    • In case the policyholder requires home care treatment, the plan pays for its expenses (up to 14 days/incident).

What is not included in New India Health Insurance?

Below are the following conditions/treatments that aren't generally covered under health plans offered by New India.

• Injury due to war, invasion, or participation in hazardous activities
• Cost of dentures, spectacles, and hearing aids (unless specified)
• Cosmetic treatments
• Suicide or self-inflicted injuries

To know more about them, please consult with the team of New India.

How to buy New India Health Insurance Plans?

New India has designed a simple buying process to avail of its health insurance plans. Let's explore.

• Go to the official website of the New India Assurance.
• Click on the 'Get Quote.
• Select the 'Health Insurance' tab, choose the plan, and click on 'Buy Online'.
• Fill in all your details and make the online payment.
• Once done, the policy plan will be sent to your registered email ID.

You also have the option to reach out to the nearest New India branch to purchase health insurance. In case none of them works for you, reach out (1800-4200-269) to the experts of PolicyX.com.

How to Renew New India Health Insurance?

There is a simple process to renew the New India Health Insurance policy. Let's have a look at it.

• Go to the official website of the New India Assurance.
• On the top, click on the 'Quick Help', and then select 'Quick Renewal'.
• Enter the Policy Number and the Customer ID.
• Make the premium payment.
• The policy document will be sent to your registered email address.

How to File a New India Health Insurance Claim?

Just follow the below-listed steps:

Intimate The Company:

• In case of planned hospitalization, you need to inform 48 hours before hospitalization or immediately during the injury/illness.
• In case of emergency hospitalization, the company needs to be intimated within 24 hours.

Submission of Documents:

After discharge from the hospital, the following documents need to be submitted within 7 days:

• Bill, receipt, and discharge certificate/card from the hospital.
• Cash Memos from the hospitals (s) / chemists (s), supported by proper prescriptions.
• Receipt and Pathological test reports from pathologists supported by the note from the attending Medical Practitioner / Surgeon recommending such pathological tests / pathological.
• Surgeon's certificate stating the nature of operation performed and surgeons' bill and receipt.
• Attending Doctor's/ Consultant/ Specialist's / Anesthetist's bill and receipt, and certificate regarding diagnosis.

In the case of post-hospitalization, documents need to be submitted within 7 days of the treatment date. After the verification is done, the company will settle the claim.

New India Assurance Health Insurance Review

New India Health Insurance is a trustworthy company among customers in the private sector that provides a quick and smooth claim settlement process. With the claim support of 91.99 % and a solvency ratio of 2.1, the New India brand enjoys an excellent reputation in the market. The annual gross premium of 9381.78 Crores indicates that customers are satisfied with the services and products offered by the New India Health Insurance.

New India Health Insurance Contact Details

Address: New India Assurance Building, 87, M G Road, Fort, Mumbai

Toll-Free Number: 1800-209-1415