The Baroda Health policy of National Insurance Company is a Health Insurance cum Accident Policy which is tailor made for the account holders of Bank of Baroda. This could include the account holder itself, spouse and two dependent children.
This policy covers Hospitalization expenses of the entire family. It will be a floater cover for the entire family and there will be a dedicated sum insured for the entire family which will work like a floater for all the members.
In order to claim from this policy one must have to be hospitalized for duration of at least 24 hours. Any kind of illness, disease or accident, whether involving surgery or not, may be covered under this policy.
However there are certain conditions which one must be aware of before entering into such a policy. When claiming from this policy there are certain guide lines laid down by National Insurance Company and they are:
1.Room rent limited to 1% of Sum Insured per day subject to a max. of Rs.5000/-.For I.C.U. it is 2% and maximum limit is Rs.10000/-. An overall limit under room rent, etc. is 25% of S.I.
2.Surgeon fees, etc. is limited to a maximum of 25% of S.I.
3.Ambulance services limited to 1% of S.I. and max. of Rs.1000/-.
4.Anesthesia, blood, OT charges, X-Rays, etc. limited to 50% of S.I.
5.In case of organ donation, etc. then the hospitalization expenses would be covered to the extent of the same amount covered under the above heading 4.
In addition the amount paid towards this policy, known as premium, is exempt under Income Tax under Section 80D of the Income Tax Act.
Furthermore if you renew your policy with National Insurance Company then you will get a Cumulative Bonus for every claim-free year and over a period of time you will also be entitled to Health Check Ups, etc.