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Oriental Insurance Company

Oriental Insurance Company Ltd laid its foundation (on September 12, 1947) as a wholly-owned subsidiary of a well-reputed organization, the Oriental Government Security Life Assurance Company Ltd at Mumbai. Currently, it is one of the most respected and trusted names in the field of insurance in India, with 1800+ operating offices and 29 regional offices across the country. Its presence is not limited to Indian boundaries only; it has gained recognition in overseas markets including Nepal, Dubai and Kuwait.

In terms of financial growth, it has shown tremendous results since its inception. The company managed to mark its beginning with Rs 99,946 as its first-year premium; however, with a team of highly trained professionals, its underwritten premium figure stands at 13199 crores at the end of the year 2018-19.

Oriental Insurance Company Highlights:

Company Name

Oriental Insurance Company Limited

Company type

Public

Headquarters

New Delhi

Network Hospitals 

4300+

Number of employees

13500

**Last Updated on 11-09-2020

Overview of Oriental Insurance Company - Products and services

The oriental insurance company deals in a wide range of insurance products like health, motor, personal accidents, householder policy, and more. Since its inception, it has been targeting both urban and rural populations so that every Indian citizen can get the benefit of insurance cover against unpredictable and unfortunate conditions in the future.

Major products of Oriental Insurance Company

  • Oriental Health Insurance policy
  • Oriental Motor Insurance policy

1. Oriental Health Insurance policy:

With the rising medical expenses in India, health insurance becomes the need of an hour. It minimizes the strain of hospitalization charges, daily care expenses, diagnosis charges and more on one's personal finances. The company offers multiple health insurance policies to back the policyholder (financially) in the time of need.

i) Oriental Insurance Individual Mediclaim Policy:

This policy offers financial support to the insured for all health-care related expenses during the policy tenure.

Key features and benefits of Oriental Insurance Individual Mediclaim Policy :

Eligibility

Available for age group 18 to 65 years; however the maximum age may go up to 70 years with an additional premium of 10 % on applicable rates

Policy term

One year

Sum insured

  • Minimum: 1 lakh
  • Maximum: 10 lakhs

Cover for pre-existing diseases

After 48 months of the policy been in force

Pre-acceptance medical check-up

Beyond 55 years of age, the proposer needs to submit the medical reports like Physical examination, Ultrasonography, Stress test, complete eye test and more to take insurance coverage.

Benefits

  • Coverage for hospitalization expenses
  • Coverage for fees of Surgeon, Anaesthetist, Medical Practitioner, Consultants and Specialists
  • Coverage for expenses of Anesthesia, Blood, Oxygen, Operation Theatre Charges, Surgical Appliances, Medicines & Drugs, Dialysis, Chemotherapy, Radiotherapy, Artificial Limbs, Cost of prosthetic devices like Pacemaker implanted during surgical procedures, relevant laboratory / diagnostic tests, X-ray and more
  • Coverage for room, boarding and nursing expenses (max 1% of the sum insured per day)
  • Coverage for ICU expenses (max 2% of the sum insured per day)
  • Coverage for ambulance services charges (1% of the sum insured per day or Rs. 2000, whichever is lower)
  • Domiciliary hospitalization expenses (if a patient is unable to shift to the hospital or in case of non-availability of a room in the hospital)
  • Daily hospital cash allowance (0.1% of the sum insured per day for a maximum of 6 days)

Pre hospitalization expenses

Up to 30 days

Post hospitalization expenses

Up to 60 days

**Last Updated on 11-09-2020

ii) Oriental Insurance Corona Kavach Policy:

This policy offers financial protection for the treatment of COVID-19 during the policy term.

Key features and benefits of Oriental Insurance Corona Kavach Policy:

Eligibility

Maximum entry age is 65 years

Policy term (including waiting period)

  • Three and a half months
  • Six and a half months
  • Nine and half months

Sum insured

  • Minimum: 50 thousand
  • Maximum: 5 lacs

Waiting period

15 days

Benefits 

  • Coverage for hospitalization expenses for both in-patient and home care treatment during the policy period
  • Coverage for ambulance services charges (a maximum of Rs. 2000 per hospitalization)
  • Coverage for AYUSH (Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy) in-patient treatment for COVID on the positive diagnosis in any AYUSH hospital

Pre hospitalization expenses

 

Up to 15 days

Post hospitalization expenses

Up to 30 days

**Last Updated on 11-09-2020

iii) Oriental Insurance Corona Rakshak Policy:

This policy offers a lump-sum amount to the insured on testing COVID positive, requiring continuous hospitalization of a minimum 72 hours.

Key features and benefits of Oriental Corona Rakshak Policy:

Entry age

18-65 years

Sum insured

50,000-2 lakhs

Waiting period

15 days

Policy term

3.5, 6.5 and 9.5 months

**Last Updated on 11-09-2020

iv) Oriental Insurance Happy Family Floater policy:

This policy offers widespread medical coverage to the proposer and his/her family under the same sum insured. It includes three plans – Silver, Gold and Diamond.

Key features and benefits of Oriental Insurance Happy Family Floater policy:

Features and benefits

Silver

Gold

Diamond

Eligibility

Any person of 18 years or above can use this policy for covering self and/or family members like legally wedded spouse, dependent children, parents, financially dependent unmarried siblings.

Maximum entry age is 65 years for the proposer and all family members; however, it can be extended to 70 years with certain rules

Policy term

One year

Renewability

Lifelong

Sum insured

1-5 lacs

6-10 lacs

12, 15, 18, 20 lacs

Daily Hospital Cash allowance

Not available

0.1% of Sum Insured (Rs.600 to Rs.1000) per day of hospitalization subject to maximum compensation of 10 days per illness

0.1% of Sum Insured (Rs.1200 to Rs.2000) per day of hospitalization subject to maximum compensation of 10 days per illness

Restoration of Sum Insured

50% of the Sum Insured or 100% of the Sum Insured

50% of the Sum Insured or 100% of the Sum Insured

Not available

New Born Baby cover

Not available

Not available

Available

Compulsory Co-payment 

10% of each & every claim

NIL

NIL

**Last Updated on 11-09-2020

v) Oriental Insurance Health of Privileged Elder (HOPE):

As the name suggests, this policy is exclusively designed to meet the medical expenses of older adults or senior citizens.

Key features and benefits of HOPE:

Eligibility

Available for only Indian citizens aged 60 years of age and above

Policy term

One year

Sum insured

1-5 lakhs

Benefits 

 

  • Coverage for specified diseases like accidental injury, knee replacement, cardiovascular diseases, chronic renal failure, cancer and stroke with the maximum liability
  • Coverage for fees of Surgeon, Anaesthetist, Medical Practitioner, Consultants and Specialists 
  • Coverage for the cost of Anaesthesia, Blood, Oxygen, Operation Theatre Charges, Surgical Appliances, Medicines & Drugs, Artificial Limbs, prosthetic devices like Pacemaker, relevant laboratory / diagnostic tests, X-ray, and more.
  • Coverage for the room, boarding and nursing expenses (max 1% of the sum insured per day)
  • Coverage for ICU expenses (max 2% of the sum insured per day)
  • Coverage for ambulance services charges (actual expense or Rs. 1000, whichever is less)

Pre hospitalization expenses

Up to 30 days

Post hospitalization expenses

Up to 60 days

**Last Updated on 11-09-2020

vi) Oriental Insurance Jan Arogya Bima Policy:

To expand the reach of medical insurance cover to poor or weaker sections of society, this plan offers complete coverage for hospitalization expenses at low premiums.

Key features and benefits of Oriental Insurance Jan Arogya Bima Policy:

Eligibility

Available for both adults having age 5 – 70 years and children having age 3 months to five years (only if at least one parent is being covered under this insurance plan)

Sum insured

5,000 per person during the period of insurance

Free look period

15 days

Benefits 

  • Coverage for hospitalization expenses
  • Coverage for room, nursing facilities
  • Coverage for cost of drugs and diagnosis

**Last Updated on 11-09-2020

vii) Oriental Arogya Sanjeevani policy:

This plan is a standard health insurance product, offering cover for basic medical facilities in case of hospitalization with monthly, quarterly and yearly premium payouts.

Key features and benefits of Oriental Arogya Sanjeevani policy:

Eligibility

Available for 18 to 65 years old Indian citizens

Policy term

One year

Renewability

Life long

Sum insured

Rs.1-5 lacs

Coverage for pre-existing diseases

Available after 48 months of continuous coverage

Benefits 

  • Coverage for hospitalization expenses for both in-patient and day care treatment during the policy period
  • Coverage for fees of Surgeon, Anaesthetist, Medical Practitioner, Consultants and Specialists Fees
  • Coverage for cost of Anaesthesia, Blood, Oxygen, Operation Theatre Charges, Surgical Appliances, Medicines & Drugs, Artificial Limbs, prosthetic devices like Pacemaker, relevant laboratory / diagnostic tests, X-ray, and more
  • Coverage for room, boarding and nursing expenses (max 2% of the sum insured per day (max Rs.5000/day)
  • Coverage for ICU expenses (max 5% of the sum insured or Rs. 10,000/day)
  • Coverage for ambulance services charges (maximum of Rs. 2000 per hospitalization)

Pre hospitalization expenses

Up to 30 days

Post hospitalization expenses

Up to 60 days

**Last Updated on 11-09-2020

viii) Oriental Group Mediclaim Plan:

It is exclusively designed for a group, institution, or a corporate body with more than 50 persons/families, provided only the insurance company has a central administration point. Each insured group must cover all eligible contributors under only one group policy.

Key features and benefits of Oriental Group Mediclaim Plan:

Eligibility

Available for any Group/Association/ Institution/ Corporate Body of more than 50 persons/families

Minimum sum insured

Rs 50,000

Group discount

Available for groups with 101 or more members

Coverage for pre-existing disease

Available after 48 months of the first policy issued by the insurer

Benefits 

  • Coverage for hospitalisation and / or Domiciliary Hospitalisation expenses
  • Coverage for fees of Surgeon, Anaesthetist, Medical Practitioner, Consultants and Specialists 
  • Coverage for cost of Anaesthesia, Blood, Oxygen, Operation Theatre Charges, Surgical Appliances, Medicines & Drugs, Artificial Limbs, prosthetic devices like Pacemaker, relevant laboratory / diagnostic tests, X-ray, and more
  • Coverage for room, boarding and nursing expenses (max 1 % of the sum insured or Rs. 5,000 per day, whichever is less)
  • Coverage for ICU expenses (2 % of the sum insured or Rs. 10,000 per day, whichever is less)
  • Coverage for ambulance services charges (1% of the sum insured or Rs 2000/- whichever is less)

Pre hospitalization expenses

Up to 30 days

Post hospitalization expenses

Up to 60 days

**Last Updated on 11-09-2020

2. Oriental Overseas Mediclaim policy:

The Oriental overseas mediclaim policy offers reimbursement for medical expenses to the insured and eligible family members when they are travelling or living in a foreign land due to any personal or professional reason.

i) Oriental Happy Cash Plan: 

This insurance plan offers daily cash benefits to meet the non-medical expenses of the insured person or the insured's family in case of hospitalization.

Key features and benefits of Oriental Happy Cash Plan:

Eligibility

Adults: 18 years to 65 years

Children: 3 months till 25 years

Policy term

One year

Renewability

Lifelong

Waiting period

No waiting period for any disease/illness other than pre-existing disease

Benefits

  • Daily cash benefit of Rs. 500, Rs. 1000, Rs. 2000 and Rs. 3000 for additional expenses like conveyance, food, lodging and more in every completed 24 hours of hospitalization, for a maximum period of 30/60 days per illness
  • In addition to the Daily Cash Benefit, convalescence benefit on a fixed lump sum amount for a hospitalisation beyond 30 / 60 consecutive days
  • Family discount is also available, depending on the number of family members covered

**Last Updated on 11-09-2020

ii) Oriental Pravasi Bhartiya Bima Yojana:

This insurance plan is designed for Indian emigrants on the directives issued by the Indian Ministry of External Affairs. Every year, hundreds and thousands of Indians emigrate from India in search of employment, so all those who are going abroad with ECR, Emigration Check Required, under the Emigrant Act, 1983 can get insurance cover for hospitalization expenses under this insurance policy.

Key features and benefits of Oriental Pravasi Bhartiya Bima Yojana:

Eligibility

18 – 60 years

Capital Sum insured

10 lacs

Policy term

One year

Renewability

Lifelong

Waiting periods

9 months for maternity cover

48 months for pre-existing diseases

Benefits

  • Facility of a Capital Sum Insured (CSI) of Rs.10,00,000 in case of personal accident
  • In-patient treatment in India as well as in the country of employment
  • Maternity Coverage up to Rs.35000 for women emigrants in case of normal delivery and Rs. 50,000 in case of caesarian operation
  • Medical coverage of 100,000 (INR) in case of hospitalization in an emergency on grounds of sickness/disease or accidental injuries

**Last Updated on 11-09-2020

3. Oriental Personal Accident Policies:

Accidents are unpredictable; however, the right insurance plan can significantly lower their impact, especially on financial grounds. Oriental accident policies like Personal Accident Policy (Individual), Janata personal accident plan and Nagarik Suraksha policy offer financial aid to the insured and the family in the treatment of physical injuries or death of the insured due to an accident.

i) Oriental Personal Accident Policy (Individual):

Despite all possible precautions, we all are vulnerable to accidents, causing any disability, injury, or even death. The oriental personal accident policy (individual) provides compensation to the insured in the event of accidental injury, disability, or death within 12 calendar months

Key features and benefits of Oriental Personal Accident Policy

Policy term

One year

Renewability

Lifelong

Free look up period

15 days

Benefits

  • Coverage for medical expenses for treating injuries urgently 
  • Coverage for funeral charges (2% of capital sum assured or 2500, whichever is less)
  • Coverage for the education of dependent child below 23 years (10% of capital sum assured to a maximum of 5000 for one dependent child, 10% of capital sum assured to a maximum of 10,000 for more than one dependent child)
  • Coverage for loss of employment due to total disability (1% of capital sum assured or 15,000, whichever is less)

**Last Updated on 11-09-2020

ii) Oriental Janata Personal Accident :

Oriental Janata personal accident plan offers death and disability benefits in case of any accident caused by visible or violent means.

Key features and benefits of Oriental Janata personal accident :

Eligibility

10 to 80 years

Policy term

One year

Sum insured

Rs. 25,000 to 5 lacs

Renewability

Lifelong

Premium

Rs.15/- for a sum insured of Rs.25,000/- and premiums increased according to the sum insured

**Last Updated on 11-09-2020

iii) Oriental Nagarik Suraksha Policy:

The Oriental Nagarik Suraksha policy is a novel accidental insurance cover and it provides both individual policy (including family package) and group policies to all eligible Indians against death, disability and loss of limb(s).

Key features and benefits of Oriental Nagrik Suraksha policy:

Eligibility

5 years to 70 years for family package

18 years to 70 years for individual/group cover

Policy term

One year

Sum insured

Rs. 1 lac to 5 lacs

Renewability

Lifelong

Benefits

  • Coverage for hospitalization expenses
  • Coverage for the carriage of dead body & funeral charges
  • Education fund is offered to children in case of death or permanent total disablement of the insured individual due to accident
  • Employment benefit is offered in case of loss of employment due to disability (partial/total), or loss of limbs/eyes following an accident 

**Last Updated on 11-09-2020

iv) Oriental Shopkeeper insurance policy:

This insurance policy ensures the safety of the property and interests of insured shopkeepers against the losses due to accidents like fire, theft, and more. It has thirteen sections as follows:

Sections

Types of Insurance

1 A

Fire

1B

Fire

2

House Breaking

3

Money

4

Pedal Cycle

5

A. Plate Glass

6

B. Neon Sign

7

Baggage

8

Personal Accident

9

Fidelity Guarantee

10

Electronic Equipment Insurance

11

Break Down- Electrical Appliances

12

A.Public Liability

B.Employers' Liability (WC)

13

Business Interruption

**Last Updated on 11-09-2020

Key features of oriental shopkeeper insurance policy:

Eligibility

Any shop of Pucca construction where the cumulative value for building and contents is up to Rs.two Crores can avail the benefits of this insurance plan

Sum insured

  • Sum insured for the building must cover the full cost of rebuilding the property

  • Sum insured for content inside the property should be the replacement value
  • Sum insured for money insurance, Fidelity Guarantee, Personal Accident, Business Interruption can be opted as per the needs of the insured 

**Last Updated on 11-09-2020

v) Oriental householder insurance policy:

Having a home of your own is one of the great investments of your life. So protecting your dream home against any unpredictable damage or loss is your responsibility. With the help of the oriental householder insurance policy, it is easy to have all-encompassing protection to your home against any damage or accident. As the name suggests, this policy offers comprehensive protection to your home and the contents inside it against losses caused due to fire, house breaking, and more.

Sections

Type of insurance

Premium rate (per thousand)

I

Fire

0.30

IIA & II B

House- Breaking

1.00

0.35

III

All Risks

8.00

IV

Plate Glass

8.00

V

Domestic Appliances Including TV Set

2.00

VI

Personal Computer & Laptop

8.00

VII

Pedal Cycle

10.00

VIII

Baggage

5.00

IX

Personal Accident

0.60+20% Medical Expenses

X A

Public Liability

0.40

XB

WC

8.00

**Last Updated on 11-09-2020

Key features of Oriental Householder Insurance policy:

Eligibility

Available for every dwelling of Pucca construction

Sum insured

For buildings, sum insured must cover the full cost of rebuilding the property

For contents inside the buildings, sum insured should be the replacement value except for section 3rd (all risks), where sum insured should be the market value*

**Last Updated on 11-09-2020

*For jewellery, sum insured will be a market value less 10% (making charges) or purchase cost

vi) Pradhan Mantri Fasal Bima Yojana:

This yojana is designed to offer financial support to Indian farmers against the loss or damage of crops caused by unforeseen events. It also targets the use of modern agricultural practices and flow of credit to the Indian agricultural sector to offer support to the farmers.

4. Oriental Insurance Motor Insurance Package:

The oriental insurance company offers cashless claim settlement for vehicles against accidents, theft, damage and more in the quickest manner. It offers two types of motor insurance plans:

  • Car insurance
  • Two-wheeler insurance

i) Car Insurance

As per the Motor Vehicles Act, 1988, it is mandatory for every car owner to insure his/her car. The oriental insurance company offers car insurance with numbers of benefits like nil depreciation cover, the free benefit of emergency service through TVS in case of breakdown, coverage for loss of personal items (up to the maximum of Rs.5000 or Rs.10,000) and many more.

Features of Oriental Private Car Package Policy: 

Policy term

One year (depends on the plan variant)

Coverage

Accidental loss or damage to the vehicle due to any natural mishap like fire, explosion, self-ignition or lightning, earthquake, flood or man-made means like theft, burglary, riot and more

Third-party liability along with personal accident cover for owner-driver

**Last Updated on 11-09-2020

Exclusions:

  • Damage caused to car when the person on driving seat wasn't carrying a driver's license
  • Damage caused to car due to drunk driving
  • Damage to car due to mechanical or electrical breakdown or failure
  • Damage to car caused by war, mutiny or nuclear attacks
  • Depreciation
  • Damage caused to car when it was operational outside India; however, the policy offers protection for Nepal, Bhutan, Bangladesh, Pakistan, Sri Lanka and the Maldives by paying extra premium
  • Damage caused to car when it was being used for hire, racing, or any other activities related to the motor trade
  • Damage caused to the tyres and tubes of the car

ii) Two-wheeler Insurance: 

Nowadays, two-wheelers are supposed to be the most convenient means of transportation, so it is advisable to protect your two-wheelers from unfortunate happenings like theft, accident, fire and more. Oriental offers the package policy at nominal premium rates.

Features of Oriental Package Policy: 

Policy term

One year (depends on the plan variant)

Coverage

Accidental loss or damage to the Vehicle because of -

  • Fire, Explosion, Lightning, and Self-Ignition Earthquake, Storm, Flood, Inundation, Terrorism, Riots, Strikes, Malicious Acts, Landslide or Rockslide
  • Burglary,
  • House Breaking or Theft

Third-party liability

**Last Updated on 11-09-2020

Exclusions:

  • Damage without a valid motor driving license
  • Mechanical or Electrical failure 
  • Damage due to drunk driving
  • Depreciation 
  • Loss or damage because of war/mutiny/nuclear risks
  • Damage to tyres or tubes, unless the vehicle itself is damaged in an accident with liability up to 50% percent of the value
  • Damage occurred outside Indian boundaries except where the policyholder pays an extra premium for overseas countries like Nepal, Bhutan & Bangladesh, Pakistan, Sri Lanka & Maldives 
  • When the vehicle is being used for commercial purposes like speed testing, or racing, reliability trials 

Oriental professional insurance policies:

The Oriental insurance company offers the following insurance policies for professionals like doctors, advocates, architects and more against any liability that may arise while working in their respective profession.

  • Directors and Officers Liability Policy
  • Professional Indemnity Errors and Omission Insurance for Chartered Accountants Accountants/Management Consultants/Lawyers/Advocates/Solicitors/Counsels
  • Professional Indemnity Errors and Omission Insurance Policy for consulting Engineers/Architects and Interior Decorators
  • Professional Indemnity Policy for Doctors and Medical Practitioners
  • Professional Negligence Errors and Omission Insurance Policy for Medical Establishment 
  • Sports insurance policy
  • Policy Stock Brokers Indemnity Insurance Policy

Oriental Business Office/Trade/Multi Perils Policies

The Oriental insurance company offers the following insurance policies in the trading or business sector so that small to medium-sized traders or business men can focus on primary activities like expanding business, generating revenues and more, without being concerned about the safety of their possessions involved in business ventures.

  • Electronic Equipment Insurance Policy
  • Fidelity Guarantee Policy - Floating Group
  • Fidelity Guarantee Policy - Individual Named
  • Money Insurance Policy
  • Multi-Peril Policy for LP Gas Dealers
  • Neon Sign Policy
  • Office Umbrella Policy
  • Plate Glass Insurance Policy
  • Policy for Jewellers' Block Insurance
  • Shopkeeper's Insurance Policy

Oriental Engineering/Industry policies:

The Oriental insurance company offers the following insurance policies in engineering/Industry sector:

  • Advance Loss of Profit (Following Erection All Risks)
  • All Risks Insurance
  • Contractor's All Risk Insurance Policy
  • Employers Liability Insurance
  • Engineering Insurance
  • Industrial All Risk Insurance Policy
  • Liability Insurance Policy ( Under Public Liability Insurance Act 1991)
  • Machinery Breakdown Insurance Policy
  • Machinery Insurance Policy
  • Machinery Loss of Profit Insurance Policy (Out-Put Basis)
  • Product Liability Policy 
  • Standard Fire and Special Perils Policy (Material Damage)

Oriental Agriculture/Sericulture/Poultry Insurance Policies:

The Oriental insurance company offers the following insurance policies in agriculture/sericulture/poultry sector:

  • Animal Driven Cart / Tanga Insurance
  • Apple Insurance (Input) Policy
  • Aquaculture (Shrimp/Prawn) Insurance Policy
  • Beetlevine Insurance (Input Policy)
  • Coconut Palm Insurance Policy
  • Failed Well Insurance
  • Honey Bee Insurance Scheme
  • Hut Insurance
  • Inland FreshWater Fish (Embankments) Insurance
  • Insurance of Biogas Plant (Gobargas)
  • Khalihan Insurance Package Policy
  • Kissan Package Insurance
  • Package Insurance for Tribals
  • Plantation/HortiCulture (Input) Policy
  • Policy for Insurance of Fish in ponds (Fresh Water)
  • Policy for Kisan Agricultural Pumpset Insurance Scheme
  • Poultry Insurance
  • Rose Plantation Insurance
  • Sericulture (Silkworm) Insurance

Oriental Animal/Birds General Insurance Policies:

The Oriental insurance company offers the following insurance policies for rearing and cultivation of animals and birds.

  • Calf/Heifers Rearing Insurance Scheme
  • Camel Insurance
  • Cattle Insurance
  • Dog Insurance
  • Duck Insurance Scheme
  • Elephant Insurance
  • Foetus (Unborn Calf) Insurance Scheme
  • Horse/Yak/Mule/Pony/Donkey Insurance
  • Pig Insurance
  • Rabbit Insurance
  • Sheep And Goat Insurance Policy

Oriental Aviation Policies

The Oriental insurance company offers the following insurance policies in the aviation sector

  • Aircraft Hull and Spares All Risks Aviation Liability Insurance (Airlines)
  • Aircraft Hull/Liability Insurance Policy
  • Aviation Fuelling/Refuelling Liability Insurance Policy
  • Aviation Personnel Accident (Crew Members)
  • Loss of License Insurance

Oriental Marine Insurance policy

Hull War and Allied Policy

How to buy Oriental Insurance policies?

As stated above, the oriental insurance company deals in multiple insurance products ranging from health insurance products to motor insurance products, personal accident policy to householder policy, and more. Moreover, these insurance plans are available both offline and online. You either can contact the company directly or its registered insurance advisors to purchase any of its insurance policies.

To purchase the insurance plan directly from the official website of Oriental Insurance company, follow the following simple steps:

Step 1: Visit the home page of Oriental Insurance company (https://orientalinsurance.org.in/) and tap on "Buy online" option from the drop-down tab.

Step 2: Select your desired insurance plan like Motor insurance policy, Personal accident policy, Health insurance policy and more.

Step 3: You will be directed to detail's page of the selected insurance plan. Fill the required information and move to the payment page to buy your desired insurance plan.

Step 4: Make the payment through NEFT, Mobile Banking, Net Banking, debit or credit card as per your convenience.

Step 5: Once you submit the application, the company will start its processing and issue the policy within specific days.

Note- You can also buy an Oriental policy from the company's branch office (in case it's not available online).

The other option to buy Oriental insurance policy is via PolicyX.com. It is an IRDA approved online portal, where you can compare different insurance policies in order to select your best plan. In order to buy the oriental insurance policy through PolicyX.com, follow the below-mentioned procedure step-by-step.

Step 1: Scroll to the end of this page and click on 'Buy Now'.

Step 2: Choose the preferred Oriental plan.

Step 3: Fill the required details and make the payment.

Step 4: You will receive a soft copy of the policy on your registered email id.

Documents required to buy an Oriental policy:

In order to purchase an Oriental Insurance policy, the following documents are generally required:

  • KYC (Know Your Customer) documents like Aadhaar card, Voter ID, Ration card, PAN card, Passport or Driving license as a proof to your identity proof and permanent address
  • Proof of age like a birth certificate or 10th mark sheet
  • Proof of income like the bank's passbook statement or salary slip
  • Medical reports (optional)
  • Other documents requested by the insurance company

Claim Process for Oriental Insurance Company:

The claim process for the oriental insurance company may vary according to the insurance plan, nature of the incident (fire/theft/accident), and liabilities involved. Commonly, the claim process for oriental insurance policies is divided into two broad categories: cashless claims and reimbursement claims.

Cashless claims:

As the name suggests, the insured individual can get medical treatment without paying cash to the concerned hospital or nursing home. The insurance company will pay all hospitalization expenses and other medical costs as per the policy. However, in order to avail this facility, the insured individual needs to get admitted to one of the network hospitals only. To get the cashless claim, follow the given step-by-step procedure-

Step 1: Fill the prescribed pre-authorization form, provided by the insurance company. It can be accessed from the company's network hospital/the TPA/company's website. It requires some basic information about the insured and the list of treatments to be approved.

Step 2: Get ready with all the necessary documents in reference to your insurance claim like a copy of insurance policy, identity proof and submit them along with duly filled form to get financial support.

Step 3: After submission, wait for the approval of the application. The claim department of the insurance company will cross-examine the application with the respective hospital.

Step 4: Once you get the approval, you will get the claim settled with Oriental Insurance.

Reimbursement Claims: 

Unlike a cashless claim, no pre-authorization is required as the insured individual initially needs to bear all the medical expenses on his/her own. Later after getting approval from the insurance company, the reimbursement is provided for the incurred expenses due to hospitalization. To get reimbursement claim after the treatment, follow the given step-by-step procedure-

Step 1: Notify your insurance agency/company for claim support at the earliest or within the specified duration, mentioned in your policy.

Step 2: Get ready with all the required documents in reference to your insurance claim and submit them to get financial support.

Step 3: As per the policy, the company's claim management department will process the application to calculate the risk or loss incurred. In case of any query, you need to be answerable to their questions.

Step 4: Once you get the approval, you will get the claim settled within a week or so.

Documents required to claim an Oriental insurance policy:

Documents required for Motor Insurance Claims:

In case of accidental damages:

  • Correctly filled and signed claim form by the insured
  • Proof of insurance policy
  • Copy of the registration book and tax payment receipt
  • Copy of motor driving licence of the person who was driving the vehicle at the time of the accident
  • In case of any third-party death or property damage or injury, police Panchnama, as well as an FIR, are required with an estimate of all the repairs for repairing the vehicle
  • Repair bills and payment receipts post repairing the vehicle
  • Claims discharge cum satisfaction voucher signed across a Revenue Stamp

In case of theft:

  • Correctly filled and signed claim form by the insured
  • Policy document (original)
  • Registration book/certificate and tax payment receipt (original)
  • Details like insurance policy no, insuring company, a period of insurance of earlier insurance (if any)
  • Police Panchnama/ FIR and final investigation report
  • All the sets of car keys
  • Warranty card
  • Service booklet
  • Form 28, 29 and 30 signed by the insured
  • Letter of Subrogation
  • Acknowledged copy of a letter addressed to RTO notifying theft and making vehicle "NON-USE"
  • Consent towards agreed claim settlement value from self and the financer
  • In case the claim is to be settled in the favor of the policyholder, then NOC of the financer is required
  • Claims discharge cum satisfaction voucher signed across a Revenue Stamp and undated "Vakalatnam

Documents required for Health Insurance Claims:

In case of hospitalisation due to disease:

  • Copy of claim intimation given to company together with xerox of policy & premium receipt
  • Correctly filled and signed hospitalization claim form by the insured
  • Discharge summary document (original)
  • Hospital bill with detailed cost break-up (original)
  • All Lab and test reports
  • Copy of Invoice/Stickers/barcode (in case of implants)
  • Paid receipts (original)
  • A first-time consultation letter from the certified doctor

In the case of hospitalization due to accident:

  • Copy of claim intimation given to the company together with xerox of policy & premium receipt
  • Duly filled Claim Form
  • Hospital Discharge Report/Medical Treatment Report
  • Medical recovery report
  • Original Test Reports (X-Rays/Sonography/ECG etc.)
  • Details of medical expenses original bills/cash memos receipts along with prescriptions
  • Leave certificate from the employer
  • Hospital/Nursing Home Registration No. if not registered then treating doctor's certificate about no of beds, availability of qualified doctors, qualified nurses/staff round the clock and fully equipped operation theater in the hospital/Nursing home
  • Police Panchnama/first information report about the accident

In the case of accidental death claim:

  • Copy of Claim intimation given to Company together with xerox of policy & premium receipt
  • Duly filled Claim Form
  • Post mortem report
  • Death Certificate
  • Police Panchnama/First Information Report/Final Investigation Report
  • Medical report & details of medical expenses
  • Wage Certificate from employer
  • Proof of Age

FAQs

1. How many claims can I make easily with Oriental Health Insurance Policies?

You can make multiple claims in a policy year; however, it should not exceed the sum assured specified in the policy documents.

2. Can I avail the claim for the stay less than 24 hours in the hospital?

No, you are not eligible for a claim for hospitalization if you don't stay for a minimum of 24 hours in the hospital. However, a few daycare procedures and treatments can be considered only if specified in the policy documents.

3. Am I eligible for tax benefits under the oriental health insurance policies?

Yes, you can get the tax benefit for your health insurance plan from the oriental insurance company.

4. What do I need to submit in case of claim admissibility for COVID-19?

You need to submit your positive COVID-19 report from any Government Hospital Laboratory or Laboratory authorized to conduct COVID-19 Test.

5. Is it possible to transfer my current insurance policy to a new buyer of my vehicle?

Yes, you can transfer the insurance policy to the new buyer of your vehicle at a nominal fee after submitting a fresh proposal form.

6. Can I renew my Oriental insurance policies online?

Yes, you can renew your Oriental insurance policies both online and offline as per your convenience.

7. How can I get a duplicate insurance policy as I have lost my original Oriental car insurance policy?

You can get a duplicate policy from the company's branch/website after paying a nominal fee.

8. Do I need to pay extra premiums for my Oriental Motor Insurance Policy if I have installed the LPG/CNG kit?

Yes, additional premiums will be charged for vehicles with LPG/CNG kit. Moreover, your LPG/CNG kit should be registered with the RTO and mentioned in your RC as you need to submit a copy of RC to your insurance company.

Last updated on 11-09-2020