OBC Oriental Royal Mediclaim Policy: Benefits, Premium, Renewal

OBC Oriental Royal Mediclaim Policy

OBC-Oriental Mediclaim Policy-2017 is a health insurance policy for both individuals and family members. The policy has three variants, namely One Account-One Policy, Multiple Accounts-One Policy and One Person One Policy. However, they differ in terms of overall account and policy management. It benefits the policyholders to increase the assured sum by including more members limiting five members under its coverage.

Policy Variants	3
Sum Insured	Rs 1 lakh-10 lakh
Day Care Treatment	116
Policy Tenure	1 year
Renewability	Lifelong

Coverage Offered

OBC-Oriental Mediclaim Policy-2017 offers coverage for the following:

In-patient Treatment Cover: Oriental OBC 2017 Insurance Policy covers in-patient treatment by offering coverage for medical expenses, equipment expenses, ICU expenses, administrative expenses and others.
Pre-hospitalization: The policy covers the medical expenses of insured individuals for 30 days before hospitalization.
Post-hospitalization: The insured individuals will be underpolicy cover for 60 days of post-hospitalization from the date of discharge.
Organ Donor: Oriental OBC 2017 Insurance Policy covers expenses and offers benefits if the insured individuals are recipients or donors, respectively.
Day Care Treatment: It covers expenses related to 116 daycare medical or surgical procedures conducted within 24 hours at the hospital premises.
Domiciliary Hospitalization: The policy covers expenses of up to Rs 25,000 during the policy period. It covers hospital and medical expenses along with appliances cost and drugs and diagnostic material costs.
Alternative Treatment or AYUSH: Oriental OBC Health Insurance covers medical and hospitalization expenses related to the treatment under Ayurveda, Homeopathy, Yoga, Unani and others.

Inclusions of the Policy

OBC-Oriental Medicalim Policy- 2017 Insurance Policy includes the following benefits:

Ambulance Charges: The policyholders can get a maximum of Rs 1,000 as an ambulance charge during the policy period.
Funeral Benefits: The policy offers coverage up to Rs 1,000 as a lump sum amount if the death of insured individuals is subject to the hospitalization claims as applicable.
Cash Allowance: The policyholders can get a cash allowance of Rs 200 per day of hospitalization, up to a maximum cash allowance of Rs 1000

Exclusions of the OBC-Oriental Medicalim Policy- 2017

If the policyholders buy Oriental OBC Health Insurance, they must consider that it does not offer coverage for the following:

Any pre-existent disease up to 3 years from the date of policy purchase
Any injury due to war, adventure sports, nuclear attacks etc.
Suicide or any self-injury
Obesity treatment, cosmetic surgery etc.
Use of un-prescribed drugs, unregulated medical treatment, unguided diagnosis etc.
HIV/AIDS
Genetic disorder
Doctor's visit charges, ambulance charges etc., as levied by the hospital

Features & Benefits of the OBC-Oriental Medicalim Policy- 2017

The policy has three types of plans such as One Account-One Policy, Multiple Accounts-One Policy and One Person One Policy.
One Account-One Policy allows issuing only one account for one policy. In the case of a joint account holder, it will enable anyone of the account-holders to be the proposer.
Multiple Accounts Policy allows issuing one policy even if the policyholders have multiple bank accounts.
One Person One Policy allows only one person to be insured under one Bank-assurance health insurance policy of Oriental.
Oriental OBC 2017 Health Insurance has a lifelong renewal opportunity.
The premiums paid in the policy are subject to tax exemption as per the Income Tax Act 1961.

Eligibility Criteria

The minimum eligibility criteria of the policy are mentioned below:

Type	Individual or Family Floater
Minimum Entry Age	18 years (91 days for children)
Maximum Entry Age	79 years
Number of people covered	Individual policyholders or, Family members (maximum five members, maximum of three dependent children)
Residential Status	Indian citizens & Permanent Residents

Cancellation of the Policy

The company can cancel the policy anytime by offering 30 days' notice. It will refund the premiums as applicable if the policy is terminated. However, in case of any fraudulent activity, the company will not refund any money.

Oriental OBC 2017 Health Insurance has a 30-days free look period within which the policyholders can return the policy if they disagree with terms and conditions. If the policy is canceled within the free-look period, the policyholders will be refunded by deducting applicable charges.

The policyholders can cancel online OBC-Oriental Mediclaim Policy- 2017 at any time and get the premiums refunded, provided all the premiums are paid.

FAQs

Q. How the premium amount is charged in the policy?

Ans: The premium amount is charged based on the age and sum insured by the policyholders.
Q. Can this Oriental OBC 2017 Health Insurance plan be ported to another plan offered by other insurers?

Ans: The policyholders must buy a Retail Health policy and continue for one year before porting to other insurers' policies.
Q. How will the policyholders be able to enhance the assured sum?

Ans: The policyholders will be able to enhance the assured sum to the next higher slab at the renewal time. They can also increase the sum to a maximum of two slabs higher if they include new policy members. In case they did not claim any reimbursement for the last two years, they can enhance the assured sum to the highest slab.
Q. When can the policyholders fail to enhance the assured sum?

Ans: The policyholders will not be able to enhance the assured sum if the insured person is more than 60 years old, or they made claims immediately after two preceding policy periods.