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Mera Mediclaim Plan is a health plus life insurance plan offered by PNB MetLife, in association with a health insurance company, Care Health Insurance Limited. Mera Mediclaim Plan also covers the health expenses of the family of the life assured.
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Note: Know more about what is term insurance first before reading this article.
The plan aims to protect its buyers from financial difficulty arising due to any medical emergency or the death of the life insured. Mera Medical plan includes complimentary health check-ups for the policyholder and family to keep the beneficiaries' health in regular check.
Term Plans
|
Sr. No. |
Description |
Feature |
|
1 |
Premium discount |
7.5% discount on combined premiums |
|
2 |
Medical treatments |
Cashless medical treatments available at more than 7500 hospital networks. |
|
3 |
Increments in health cover |
The health cover increases to 250% in two claim-free years with NCB-super |
|
4 |
Floaters |
1 adult + 1 child or 1 adult + 2 children or 1 adult + 3 children or 1 adult + 4 children or 2 adults + 1 child or 2 adults + 2 childre or 2 adults + 3 children or 2 adults + 4 children |
|
5 |
Automatic Recharge |
Sum insured is automatically recharged for the next claim after availing the health claims with a specific layout |
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There are several benefits related to the Mera Mediclaim Plan, which one can avail of during and at the end of the policy tenure. Some of the primary benefits relating to this plan are:
The insurer will pay a death cover to the family of the life insured upon the untimely demise of the policyholder. This benefit will be provided to the beneficiaries smoothly and without causing any obstruction to the same.
According to the policy option selected for the sum assured by the life insured under the Mera Mediclaim Plan, the amount provided upon death will be according to the payout option selected at the time of policy purchase.
The Life Insured, along with the family covered under the Mera Mediclaim Plan are provided with annual medical check-ups so that any uncertainty can be detected at the earliest.
Medical bills are covered under this policy for more than 540 daycare treatments. In addition, cashless hospitalization is available for more than 7500 hospital networks across India.
If one is able to go for straight five years of the policy tenure without availing any claim whatsoever, the sum insured is increased up to 150% for the said 5 claim-free years.
Payable premium falls under Section 80C and 80D of the Income Tax Act of 1961. The rebate has a limit of Rs 1.5 lakhs.
“Tax benefit is subject to changes in tax laws. Standard T&C apply.”
Premium payments under Mera Mediclaim Plan are calculated on an annual basis. An illustration with specific conditions is given below to understand the basic premium requirements.
Let’s say a 35 years old male wants to assure his life and health, so he buys the Mera Mediclaim Plan for a policy tenure of 30 years which makes him liable to pay the premiums up to 65 years of age.
Policy term: 30 years
Sum assured for life: Rs. 25 lakhs
Sum assured for health: Rs. 10 lakhs
Annual premium (life): Rs. 7,600
Annual premium (health): Rs. 7,705 (lifelong renewable)
Combined discount: Rs. 1,148
Annual combined payable premium: Rs. 14,157
Notes:
One can add numerous additional riders to the basic policy structure to avail of the extra benefits according to personalized needs.
Premium Returns
If one chooses the policy with the return of premium option and survives the entire policy tenure, then he or she can avail of the maturity benefit equal to the sum assured.
Along with this, several other riders are given in a list format below:
Indian nationals are eligible to apply for the Mera Mediclaim Plan. In addition to being an Indian national, one will need to fulfil some additional requirements.
There are two parts of the policy with different eligibility requirements, which are:
As discussed earlier, all Indian nationals are eligible to buy the Mera Mediclaim Plan, so relative documents listed below can be shown to apply for this plan.
One can follow a straightforward online procedure to purchase this plan from the comfort of their homes. And the procedure is similar to the primary method used to fill any online application.
The stepwise procedure is as below:
There are certain exclusions under which the insurer is not liable to pay anything to the insured for specifically agreed reasons.
Some of those reasons are:
The insurer shall not pay treatment costs relating to the first 30 days of the policy unless the claims are due to an accident.
The expenses arising due to surgery to alter the gender characteristics to that of an opposite-sex can not be claimed under any circumstances.
If a medical emergency is caused due to the insured person overdosing on drugs or alcohol, then such medical bills are not claimable. Even if a person dies due to the said reasons, the beneficiaries can’t make the claims to cover death benefits.
In case of the life assured committing suicide within the first 12 months from commencement of the policy tenure, 80% of the sum assured up to the suicide date or surrender value available at the time of death due to suicide will be paid to the family considering the higher value among both. This sum shall not include any interest rates whatsoever.
Medical bills caused while treating pregnancy or childbirth, abortion, miscarriage, infertility, etc., are not covered under the Mera Mediclaim Plan. However, one can ask the insurer if these facilities are available as a rider option.
A person suffering from a congenital disease cannot claim any medical expenses related to that condition.
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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