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Overview
The Bank Saathi Policy from Oriental Insurance is a group health insurance plan designed to provide indemnity to insured individuals and their family members. It covers various medical care expenses like:
- Injuries due to accident
- Illnesses and diseases
- In-patient care
- Emergency care
- Domiciliary hospitalization
The plan is available to individuals until age 70. Insured individuals can cover up to three dependent children between 91 days and 18 years. However, male children can be covered up to the age of 26 years. There are two plan variants under the Oriental Insurance Bank Saathi Policy: Plan A offers a sum insured of INR 2 to 5 lakhs, and Plan B offers a sum insured of INR 6 to 25 lakhs.
Oriental Insurance Bank Saathi Policy Benefits
Policyholders can avail of a multitude of benefits upon purchasing the Oriental Insurance Bank Saathi Policy, as it offers all-around coverage to you and your family members. A few are listed below:
Lifetime Renewability
Policyholders can avail of lifetime renewability, ensuring continuous coverage for you and your family members.
Mental Illnesses Cover
Insured individuals are covered for mental illnesses under the Oriental Bank Saathi Insurance policy. Mental illness treatment taken as in-patient is covered up to the Sum Insured. However, sub-limits are applied to four named diseases/conditions as per the policy schedule.
Medical Second Opinion
Policyholders can avail of a medical second opinion for a number of listed diseases like cancer, renal failure, stroke, coma, cardiac conditions, and more. The second medical opinion can be obtained even from overseas under the Oriental Bank Saathi Insurance Policy.
Maternity & Newborn Cover
Under the Oriental Insurance Bank Saathi Policy, maternity cover is available as a part of in-patient care for delivery, including C-sections. The cover is available for a Sum Insured equal to or greater than INR 10 Lakhs. Newborn baby cover is available from day one.
Tax Benefits
The Oriental Insurance Bank Saathi Policy is eligible for tax benefits as per the Income Tax Law, 1961.
Exclusions
Permanent diseases or health conditions that are not included under the Oriental Insurance Bank Saathi Policy are:
- Hospitalization due to war, riot, strike, and nuclear weapons
- Intentional self-injury
- AIDS
- Miscarriage and abortion
- Congenital disease
- Infertility and in vitro fertilization
Certain diseases and treatments are covered under this plan after a specific waiting period:
- Pre-existing diseases after 48 months
Oriental Insurance Bank Saathi Policy Premium Table
We have mentioned below the premium rates to be paid by policyholders for plan variants A and B, excluding GST, within the age bracket of 18 to 40 years.
Plan A
| Sum Insured (in Rs.) | 2 L | 4 L | 5 L |
| Premium (In Rs.) | 6,530 | 8,964 | 9,843 |
Plan B
| Sum Insured (in Rs.) | 6 L | 15 L | 20 L | 25 L |
| Premium (In Rs.) | 11,202 | 18,385 | 21,485 | 24,535 |
Conclusion
The Oriental Insurance Bank Saathi Policy is a group health insurance policy that offers a wide range of sum insured options for you and your family members. The plan provides holistic coverage for policyholders with a maximum entry age of 70 years, featuring in-patient hospitalization, maternity coverage, newborn coverage, modern treatment, organ donor cover, and more.
