Bajaj Allianz launches ‘Global Health Care’ to provide Health Insurance Coverage anywhere across the World

Pune (Maharashtra) [India], June 30: Bajaj Allianz General Insurance, one of the leading private general insurers in India, today announced the launch of its distinctive health insurance product ‘Global Health Care’. Global Health Care is a comprehensive health indemnity insurance product that provides seamless cover to the policyholder for planned and emergency treatment availed from health care providers Internationally (outside of India) and domestically (within India). The USP of the product is that it allows insured members to plan any treatment a broader in India worry-free, thus availing the best medical facilities anywhere across the globe. Bajaj Allianz General Insurance has collaborated with Allianz Partners to provide a seamless claims experience to their policyholders through the company’s unique and extensive global health care provider network and quality claim settling capabilities.

Key Highlights:

• Global Health Care is a first-of-its-kind health insurance product from the Company which opens up off-shore treatment facilities for Indian customers
• The company collaborates with Allianz Partners to provide a seamless claims settlement experience for customers outside the country
• Policyholders can opt for any treatment for which cover is provided anywhere across the globe
• Product available in two plans – Imperial Plan and Imperial Plus Plan, both offering international and domestic covers
• The product covers features and benefits like In-patient Hospitalisation, Day Care Procedures, Mental Illness, Palliative Care, Medical Repatriation, Air Ambulance, Living Donor Medical Costs, Modern Treatment Methods & Technological Advancement, among others
• The premium starts from INR 39,432 excluding GST; Sum insured ranges from INR 37,50,000 to INR 3,75,00,000 (INR 3.75 Crores) for domestic coverage and corresponding international coverage that ranges from USD 100,000 to USD 1,000,000 ($ 1 Million)

Global Health Care product offers one of the widest Sum Insured ranges available in the Indian market, which starts from INR 37,50,000 to INR 3,75,00,000 (USD 100,000 to USD 1,000,000). The product is available with two plans, namely ‘Imperial Plan’ and ‘Imperial Plus Plan’ which offer both International and Domestic Covers. From the product point of view, the primary differentiator between these plans is that the Imperial Plus Plan is a high-end variant with higher sum insured (SI) options offered along with enhanced features. The domestic cover for ‘Imperial Plan’ and ‘Imperial Plus Plan’ provides In-Patient Hospitalization treatment, Pre and Post-Hospitalization Expenses with benefits like Ambulance (Air and Road), Day Care Procedures, Living Donor Medical Costs, Modern Treatment Methods & Technological Advancement, Mental Illness treatment and Rehabilitation amongst others. A supplementary feature of the domestic cover is that it also provides Ayurvedic/Homeopathic Hospitalization as a special feature. Further, during a treatment domestically, the patient can choose to opt to transfer to the best international facilities available for his/her ailment.

The international cover additionally provides benefits like Dental Cover (optional), inbuilt OPD cover, and other enhanced features like In-Patient Cash Benefit, Palliative Care, Medical Repatriation,

Repatriation of mortal remains, accommodation costs for one parent staying with an insured child, Air Ambulance and Medical Evacuation, and emergency treatment outside area of cover amongst others. The international cover also offers a voluntary deductible of Nil/USD 500/USD 1000 on an aggregate basis which reduces the premium payable. These covers also providean in-built annual preventive health check-up during each renewal cycle.

Commenting on the product launch, Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “We firmly believe that best in class medical care can increase life expectancy and improve quality of life. Many of us want to look at international treatment options for our loved ones and ourselves but we seldom opt for it considering the massive expenses foreseen, and it can potentially diminish the life savings of an individual. Our Global Health Care product addresses these exact reservations and provides you that relief in opting for best-in-class treatment anywhere in the world without worrying about the financial burden. For international claims, we have collaborated with Allianz Partners, where our aim is to ensure that our citizens get access to the best medical facilities, outside India as well and have a worry-free claim settlement experience. As a company, it has always been our endeavour to be there for our customers at every touchpoint and with our Global Health Care product, we are extending our care and protection that transcends borders.”

Commenting on the occasion, Ms. Charu Kaushal, Chief Executive Officer, Allianz Partners India, said, “We are delighted to partner with Bajaj Allianz for the launch of the industry-first health insurance plan – Global Health Care which uniquely combines the international healthcare footprint of Allianz Partners, enhanced product features and a hassle-free claim settlement process. The plan enables our customers to avail of planned or emergency treatment anytime around the world, supported by our vast medical network. We are excited to embark on this journey with Bajaj Allianz to jointly deliver best in class and customer-centric healthcare solutions.”

Global Health Care offers policyholders the option to choose between Worldwide Cover including USA and Worldwide Cover excluding the USA. This product is offered to Indians residing in India with a sum insured available on an individual basis for a policy cover period of 1 year. The entry age for adult members is from 18 to 65 years and for dependent children is from 3 months to 30 years with a lifetime renewal option. Cashless and Reimbursement claim settlement options are available in the Global Health Care product. The premium starts from INR 39,432 excluding GSTprovided with an EMI facility for the payment of the premium on a monthly, quarterly, half-yearly, or annually basis. An additional 5% discount will be applicable if two or more members of the family opt for the policy.

Annexure:

The below table illustrates the SI options available for the ‘Global Health Care’ product:

Premium Illustrations:

The below tables illustrate the premium description for ‘Global Health Care’ for the below scenarios:

• Nil deductible excluding Optional Dental Plan