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Bajaj Allianz Healthguard Individual Plan

Bajaj Allianz Healthguard Individual Plan - It is a collaboration between Bajaj Finserv Limited and Allianz SE. Both brands are well-known for their expertise, stability, and durability. Bajaj Allianz earned the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May 2001 to carry out several businesses (including Health Insurance business) in India.

Bajaj Allianz's Health Guard Individual Policy is a comprehensive health insurance policy for you. It is meant to take care of the medical costs incurred during hospitalization resulting from grave illness or accident. It offers benefits of lifelong renewability and Income tax benefit on the premium paid while covering yourself, spouse, dependent children, and parents.

Highlights Bajaj Allianz Healthguard Individual Plan

  • Covers for hospitalization expenses incurred during hospitalisation
  • Pays for Pre and post hospitalization expenses for 60 and 90 days respectively.
  • Compensates for ambulance charges Rs. 1,000/- per hospitalization.
  • Covers 130 daycare treatments that would otherwise require a minimum of 24 hrs hospitalization
  • Offers lifetime renewability option for continued coverage
  • Income Tax Benefit Under Section 80D of the Income Tax Act 1961

Bajaj Allianz Healthguard Individual Plan - Coverage

Entry Age
For children :  91 days
Adults Minimum: 18 years
Maximum : 65 years
Number of Members Covered Maximum Members : 6
Maximum Adults : 6
Maximum Children : 5
Sum Insured 1.5 lakh -  10 lakh
Policy Periods Available Annual
Discount Family Discount
Pre-Policy Medical Check-up For 46 yrs old and above

Important Features - Bajaj Allianz Healthguard Individual 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-Hospitalisation expenses for consultations, investigations and medicines incurred up to 60 days before Hospitalisation
POST HOSPITALIZATION Compensates for the Post-Hospitalisation expenses for consultations, investigations and drugs incurred up to 90 days after discharge from Hospitalisation.

Good to Have Benefits - Bajaj Allianz Healthguard Individual Plan

PORTABILITY If you are currently insured with a different insurer and wish to switch to Bajaj Allianz Healthguard 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 Healthguard Individual 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.
DENTAL COVER 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 Healthguard Individual 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 Cover for surgeries for cataracts (after a waiting period of two years), shall be restricted to 10% of the Sum insured for each and every claim, subject to a minimum of Rs.12,000 (or the actual whichever is lower) and up to a maximum of Rs. 35,000 for each of the member.

Waiting Period - Bajaj Allianz Healthguard Individual 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 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 Healthguard Individual 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 Healthguard Individual Plan

Bajaj Allianz's Family Individual Healthguard Plan offers 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. While it offers to cover your parents, too, the co-payment clause during claims and no cover for maternity along with the lack of a lump sum benefit for critical illness can be a restraint. Overall, a decent plan to consider if you are contemplating to buy an individual health plan for your family.

**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.