New India Floater Mediclaim Policy

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New India Floater Mediclaim Policy

New India Floater Mediclaim Policy is a family floater health insurance plan by New India Assurance Company that offers the needful financial cover to the entire family under a single sum assured. It is a comprehensive health insurance plan that offers coverage against expenses such as hospitalization, RMO charges and others related to your treatment. The plan allows you to insure yourself, your spouse and maximum two to four dependants under its roof.

New India Floater Mediclaim Policy: Eligibility

The eligibility criteria are as follows depicted in the tabular form:

Entry age0-65 years
Sum assured2 lacs to 15 lacs
Pre acceptance medical checkupAfter 50 years of age
DiscountsLoyalty discount and good health discount
Free Look period15 days

Key Features

New India Floater Mediclaim Policy is a suitable plan to secure your entire family. Below is the list of its features which will assist you to understand the plan in a better manner.

Comprehensive Cover: The plan is designed to offer complete coverage to the entire family under a single sum assured. It even covers dependent children up to the age of 25 years.

Pre & Post Hospitalization: You are liable to receive pre (up to 30 days) and post (up to 60 days ) hospitalization under this plan.

Cashless Hospitalization: The plan allows you to get the treatment done without paying a single penny from your pocket. 5884 hospitals come under New India Floater Mediclaim Policy cashless hospitalization.

Hospital Cash Benefit: The plan comes out with the hospital cash benefit of 0.1% of sum assured per day of hospitalization. It will be there in every case of an admissible claim and for each member.

Critical Care Benefit: The plan will pay 10 % of the sum assured as an additional benefit to deal with the critical illness (only listed ones).

Cover Non-Allopathic Treatment: The plan offers the required cover against non-allopathic treatment such as ayurvedic, unani and homeopathy among others.

Cataract Cover: Unlike others, this plan is entitled to provide coverage against cataract expenses. 10% of the sum insured is the limit for the cataract eye treatment (for each eye).

Pre-existing Diseases: The plan allows you to get the required pre-existing cover after 4 years from the policy commencement date.

Enhancing Sum Insured: You can easily enhance the sum insured limit at the time of renewal of the policy.

Daycare Procedures: The plan is liable to offer the required cover against 74-day care procedures.

Organ Transplant: In the case of organ transplant treatment, the plan will cover all expenses excluding the organ cost.

Cover Additional Expenses: A few additional expenses such as a surgeon, anaesthetist, practitioner, consultants’ fees, blood,operation theatre charges, oxygen, and other medical expenses are also covered.

Newborn Baby Cover: The plan offers cover to the newborn baby against any illness/injury till the expiry of the policy.

Co-pay: Copay applies only if you take treatment in a hospital located outside the coverage area. 80% of sum insured or the admissible claim amount will be payable.

Pre-acceptance Medical Checkup: There is no need for a pre-acceptance medical checkup up to the age of 50 years. Those who are entering into the plan after the age of 50 years or an adverse medical history need to undergo the pre-acceptance medical checkup.

Lifetime Renewability: The plan comes out with the option of lifetime renewability to assist you for a longer tenure.

Free-look Period: It offers a free look period of 15 days. If you are not happy with the plan or any of the features, you can easily cancel the same during the free look period and get a refund.

Tax Benefits: All premiums paid towards health insurance (other than cash) are eligible for deduction from taxable income as per section 80D of the Income Tax Act, 1961.

Wider Coverage: The hospital channel of New India Assurance is wide open. The company works both in India and overseas (27 countries) and has tied up with several hospitals across the nation that offer cashless health facilities to the insured at the time of need.

Ambulance Charge: The charges of ambulance service at the time of emergency is also high. Thus, under this policy, insured gets actual cost or 1% of sum assured, whichever is less.

Why Go For New India Floater Mediclaim Policy?

New India Family Floater Mediclaim Policy is the medical plan that is suitable to cover the health requirements of the family (4 to 6 members). It provides financial help for the treatment of every family member in the case of an emergency. Along with a long list of features, this plan has a lot more things to serve you such as additional covers, grace period, and much more. It even offers several discounts on insuring additional members under the same. New India Family Floater Mediclaim Policy is a pocket-friendly and an effective health insurance plan for a fruitful and secure future.

Major Exclusions

  • Dental treatment is not liable to get the cover except those which arise out of an accident.
  • General rundown situation and debility.
  • HIV (AIDS) and sexually transmitted diseases.
  • Cosmetic surgery, circumcision & plastic surgery (unless it is required to treat an injury or illness).
  • Inoculation and vaccination.
  • Pregnancy & ailments related to your childbirth.
  • Act of foreign enemy, war, nuclear weapon and ionising radiation.
  • Naturopathy.
  • Treatment outside India.
  • Experimental treatment.
  • Domiciliary treatment.
  • External types of equipment that include contact lenses, cochlear implants, etc.
  • Medical Expenses associated with any hospitalisation specifically for diagnostic, investigations, X-ray or laboratory examinations.

New India Floater Mediclaim Policy: Claim Process

To assist customers with a convenient and hassle-free claim process, New India Assurance has made the entire procedure easier for its customers. There are two ways under New India Floater Mediclaim Policy to file a claim- cashless and reimbursement. Let's discuss them in detail.


When it comes to claiming health insurance, cashless facility is the most preferred option. Under the same, you are free to get your treatment done without paying a single penny from your pocket. It ensures that you offer quality and worry-free treatment. For filing a cashless claim, you have to inform the insurance company or the TPA immediately. In case of an emergency, you need to inform the insurance company within 24 to 48 hours. In the case of planned hospitalization, it should be 3 to 4 days before. You have to submit your policy documents or policy identification number along with some ID proofs and rest will be taken care of by the insurance company or TPA.


This process is different from the cashless method. Under reimbursement, you have to pay for all your medical expenses and after getting discharged, you can file for the reimbursement. For the same, it is important to inform the insurer as soon as possible along with the duly signed claim form and other required documents which include medical bills, discharge card, all prescriptions, reports and all other treatment-related documents to the insurance company. The insurance company, surveyor or TPA can ask for additional documents in case of need. He/she will check your case thoroughly and analyse the same from all perspectives. Once he/she is done, you will get your results through email, text or call. The insurance company will transfer the funds directly to your account if it gets approved. If it gets rejected, you will receive a letter, text, e-mail or call stating reason/reasons behind the same.


Yes. Hospitalisation is necessary to file a claim under the New India Floater Mediclaim Policy. Outpatient treatment is not liable to get the cover under this policy until you add it as an additional cover.

You can not file any claim during the initial thirty days of the policy. However, claims associated with the hospitalisation due to accidents are liable to get the cover even during the first thirty days. There are a few certain treatments where there is a waiting period of 2 to 4 years.

Yes, it is allowed to shift to another hospital during the treatment for a better medical procedure or any other genuine reason. However, TPA will evaluate the same as per policy terms and conditions.

Yes. Congenital Internal Disease or defects or anomalies are liable to get the required coverage under the New India Floater Mediclaim Policy after 2 years of continuous coverage.

No. You are free to renew the plan as long as you want it to or as long as you pay the renewal premium before its expiry date. There is an age limit for the new buyer but there is no age limit for renewal.

The entire claim amount is liable to get the cover within the sum assured limit as per the policy conditions. It is important to submit all required documents at the time of filing claim.

Last updated on 18-12-2020