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Indian Bank Arogya Raksha Policy Insuring Affordable Healthcare

Introduction

Health Insurance is picking up in India for the past three decades, more widely during the past fifteen years. Banks have taken a lead in this, joining hands with the three nationalised General Insurance Companies, United India, New India, National and a few. Each bank has its own scheme and every scheme has some unique feature.

Indian Bank health policies are structured in collaboration with United India Insurance offering policy registration and renewal online. This facility is extended to their Bank account holders through their Arogya Raksha Mediclaim scheme and it is operating since 2006. This scheme very simple and also a cheapest one.

Mediclaim Insurance

Arogya Raksha policy benefits are offered to account holders as well as the Account holders’ spouse and children. Some of the Banks extend benefits to the dependent parents of the account holder as well. The enrolments to these policies however have age limits, 60 in some banks and 65 for few other banks, while the renewal of policy is admitted up to the age of 80.

Best terms offered

Indian bank health policies are known to offer best terms in many respects, such as

  1. Low premium rates
  2. Policy renewal allowed up to the age of 80
  3. Medical examination is not compulsory, which factor is very meaningful for the account holder to take care of one’s elderly parents
  4. Basic requirement for eligibility is just account holding

Premium remittance

Since premium remittance is automatically deducted from one’s account and remitted to the Insurance company, there will be no situation involving lapse of policy due to delay or non-remittance of premium on due time. Banks have a department specifically entrusted with the responsibility of following up premium remittance of their account holders.

Indian bank insurance policies are operated by most of the banks which include Bank of India’s Swasthya Bima Policy, Andhra Ban’s Arogyadhaan Policy, Canara Bank’s Canmediclaim, Punjab National Bank’s Royal Medical Claim, besides Indian Bank Arogya Raksha Policy.

Cash free hospitalization

Health Insurance policies are also operated under Cashless Health Insurance, which enables a member to get hospitalised without making payment directly, but only giving details of the policy to the authorised hospitals who obtain necessary authorisation from the concerned Insurance companies for extending the treatment. This arrangement is done through Third Party Administration and Indian Bank Arogya Raksha Policy benefits include this facility of United India Insurance.

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