LIC Premium and Maturity Calculator

Bajaj Allianz Health Guard Family Floater Insurance Plan

Bajaj Allianz Health Guard Family Floater Insurance Plan - Bajaj Allianz's Health Guard Family Floater Policy is a comprehensive health insurance policy for you and your family. It is intended to take care of the medical expenditures incurred during hospitalization following a severe illness or disaster. It covers your entire family on a floater basis, i.e., the sum insured can be used to meet hospitalization or other permitted expenses for any of the insured member under Bajaj Allianz Health Guard Family Floater Policy.

Highlights of Bajaj Allianz Health Guard Family Plan

  • No restriction on Room Rent/ICU Rent
  • Option to renew the policy till the age of 80 years
  • Compensation towards the Ambulance Charges of Rs.1,000 per hospitalization
  • Coverage for 130 daycare procedures that do not require 24 hrs hospitalization
  • Cumulative bonus of 10% for every claim free year
  • Value Added Services like OPD discounts and rebate on Pathologies at select outlets.
  • Income Tax Benefit Under Section 80D of the Income Tax Act 1961

Coverage - Bajaj Allianz Health Guard Family Floater Insurance Plan

Entry Age
For children :  91 days
Adults Minimum: 18 years
Maximum : 65 years
Number of Members Covered Maximum Members : 6
Maximum Adults : 2
Maximum Children : 4
Sum Insured 2 lakh -  10 lakh
Policy Periods Available Annual
Discount Family Discount
Voluntary Deductible Discount
Pre-Policy Medical Check-up Depending on Age & SI

Important Features - Bajaj Allianz Health Guard Family Floater Insurance Plan

DAY CARE TREATMENTS The plan covers the expenses towards 130 day-care procedures that would otherwise require hospitalization of a minimum of 24 hours.
NO-CLAIM BENEFITS For every claim-free year, you will be entitled to a 10% cumulative bonus for the next policy year up to a maximum of 50% of the sum insured.
PRE HOSPITALIZATION Compensates for the Pre-Hospitalization expenses for consultations, investigations and medicines incurred up to 60 days before Hospitalization
POST HOSPITALIZATION Compensates for the Post-Hospitalization expenses for consultations, investigations and drugs incurred up to 90 days after discharge from Hospitalization.

Good to Have Benefits - Bajaj Allianz Health Guard Family Floater Insurance Plan

PORTABILITY If you are currently insured with a different insurer and wish to switch to Bajaj Allianz Health Guard Family Floater Plan, you can do the same without losing your accrued benefits after the waiting periods.
TAX BENEFITS You can avail tax benefits for the premium amount paid towards this plan under Section 80D of the Income Tax Act, 1961.
SUM ASSURED ENHANCEMENT You can apply for enhancement of Sum Insured at the time of renewal by submitting a new proposal form to the company.
HEALTH CHECK-UP The plan allows you for a complimentary health check at every four claim free years for the list of tests defined in the policy wordings. The check-up can be carried out at an empaneled diagnostic center.
EMERGENCY AMBULANCE You can claim up to Rs.1,000 per hospitalization towards the emergency ambulance charges.

Value Adds - Bajaj Allianz Health Guard Family Floater Insurance Plan

VOLUNTARY DEDUCTIBLE This plan has the option to opt for the voluntary deductible in the range of Rs.10,000 to Rs. 2,50,000. With each deductible option, a discount in the range of 10 % to 32 % is offered.
DISCOUNTS When you buy the plan, you are eligible for some discounts at health and fitness centers across the country such as OPD, Pathologies, Radiology, Wellness Tests, Pharmacy, and so on.
DENTAL COVERAGE Not applicable unless it required due to an accidental injury.
FREE LOOK PERIOD For any reason, should you decide not to proceed with the policy, you can return the same and request for a refund within 15 days from the date of receipt of the policy document.

Terms & Conditions - Bajaj Allianz Health Guard Family Floater Insurance Plan

CO-PAYMENT You will have to bear 10% of co-payment if you seek the treatment in any hospital outside the network. Similarly, 20% co-pay applies to any insured person aged 56yrs and above, being covered for the first time in the Family Floater Health Guard Policy.
CATARACT SURGERY CLAIMS Surgeries for cataracts (after waiting period of 24 months) shall be restricted to 10% of the sum insured for each and every claim (or the actual amount whichever is lower), up to a maximum of Rs.35,000/- for each of the protected members.

Waiting Period - Bajaj Allianz Health Guard Family Floater Insurance Plan

COOLING OFF PERIOD A 30 days cooling off period for all claims except any arising out of accidental injuries.
SPECIFIC DISEASES 24 months waiting period for few listed conditions like any types of gastric or duodenal ulcers, Benign prostatic hypertrophy, Endometriosis, Fibromyoma, etc.
PRE-EXISTING You can claim for any pre-existing conditions expenses after 48 months from the policy start date.
LISTED TREATMENTS There’s a waiting period of 48 months for the procedures such as Joint Replacement Surgery, Surgery for prolapsed intervertebral disc, and so on.

Permanent Exclusions - Bajaj Allianz Health Guard Family Floater Insurance Plan

The Plan will not cover any liabilities towards the treatments of following conditions-

  • Attempted suicide
  • Use of alcohol or drug
  • AIDS
  • Congenital external are excluded permanently. Congenital internal have waiting period of 4 years
  • Cosmetic, aesthetic or related treatment
  • Infertility and in vitro fertilization.
  • Hospitalization out of war, riot, strike and nuclear weapons

The detailed list of what the policy does not cover is available in the policy wording.

Review of Bajaj Allianz Health Guard Family Floater Insurance Plan

Bajaj Allianz's Family Floater Health Guard Plan includes a family on floater basis with a choice of an adequate sum insured. With coverage of day care treatments and laser eye surgery (after waiting period of four years), the plan comes with no sub-limits on room rent and boarding. However, the co-payment clause during claims and no cover for maternity and lack of a lump sum benefit for critical illness can be a bit damper. Overall, a decent plan to consider if you are contemplating to buy a  health plan covering your family  on floater basis.

**Reviews and ratings are based only on Benefits and Conditions. Things like Claim Settlement Ratio, Hospital Network have not been covered under product ratings. These are covered under Company ratings.