Bajaj Allianz Health Insurance vs Manipal Cigna Health Insurance

Before buying any product or service you need to ensure if you can trust it completely for a satisfying experience. Trust is especially crucial in the purchase of vital products like health insurance. Even you know that you can trust only reliable insurance providers to ensure you get the promised financial support in your hours of need. Companies like Bajaj Allianz Health Insurance and Manipal Cigna Health Insurance have proven credentials in the industry, assuring of hassle-free claim settlements. Comparing the products they offer would be a good place to start your health insurance purchase journey. 

Bajaj Allianz Health Insurance vs Manipal Cigna Health Insurance– Overview 

ParameterBajaj Allianz Health InsuranceManipal Cigna Health Insurance
No. of health insurance policies15+11
E-servicesPolicy salePolicy renewalClaim settlementOnline consultationBranch locator24x7 call service Policy salePolicy renewalClaim settlement Branch locatorOnline consultation24x7 customer support 
Branches200+47
Claim settlement ratio (CSR)95.01%89.50%
Cashless claim settlement timeWithin 1 hour Within 2 hours
Hospital network6,500+6,500+

*Source: The Annual Report of the Insurance Regulatory and Development Authority of India (IRDAI) – years 2018-19 

Health Insurance Policies: Bajaj Allianz Health Insurance vs Manipal Cigna Health Insurance

Bajaj Allianz Health Insurance’s brand identity ‘Caringly Yours’ revolves around providing its customers with the best service. The company has over two decades of experience in the insurance sector and has a strong presence in Tier 1, Tier 2, and even Tier 3 areas. 

Manipal Cigna Health Insurance is a firm believer in ‘Health Hai Toh Life Hai’, which stands for the company’s dedication towards protecting the customers’ health. The company has over 200 years of experience in the insurance sector and ranks in the 13th place on the Fortune 500 list of companies. 

Critical Illness Policy: 

Bajaj Allianz’s Critical Illness Policy provides:

  • Multiple sums insured (SI) options up to Rs. 50,00,000
  • Lump-sum payout of the entire SI upon the diagnosis of critical illnesses covered under the plan (after the completion of the 30-day survival period) 
  • Coverage for 10 critical ailments such as:
  • Cancer
  • Permanent paralysis 
  • Multiple sclerosis, etc.
  • Individual and family floater options 

Manipal Cigna’s Critical Illness Policy offers:

  • Multiple SI options up to Rs. 25,00,00,000
  • Two plan options: 
  • Basic plan (covers 15 critical illnesses)
  • Enhanced plan (covers 30 critical illnesses) 
  • Inclusion of life-threatening ailments such as cancer, kidney failure, coma, etc. 
  • Option to receive the SI in lumpsum or through staggered payments 
  • Access to online wellness programs 
  • A second medical opinion 
  • 10% discount in premium on availing the policy on a family floater basis 

Daily Hospital Cash Policy: 

Bajaj Allianz’s Daily Hospital Cash Policy features:

  • Daily cash allowances between Rs. 500 and Rs. 2,500 
  • Double the cash benefit on the admission of the policyholder in the intensive care unit (ICU) 
  • The option to enhance the benefit amount on renewal 
  • A 5% discount in premiums on buying the policy for 2 or more family members 

The benefits of Manipal Cigna’s Daily Hospital Cash Policy include: 

  • Two plan options – Basic Plan and Enhanced Plan
  • A daily cash benefit between Rs. 500 and Rs. 5,000 for up to 180 days per policy year
  • 6 benefits: 
  • ICU cash benefit 
  • Accidental hospital cash benefit 
  • Sickness hospital cash benefit 
  • Convalescence benefit 
  • Compassionate benefit 
  • Companion benefit 
  • Access to online wellness programs 
  • Worldwide coverage 

COVID-19 Policy: 

There are two standard COVID-19 Policies: 

  • Corona Kavach
  • Corona Rakshak

All insurers across India offer at least one of these policies in their effort to beat COVID-19. 

Bajaj Allianz Health Insurance and Manipal Cigna Health Insurance both offer Corona Kavach Policies with similar features, such as: 

  • SI amounts up to Rs.5,00,000
  • Coverage for in-patient hospitalization and home care treatment 
  • Inclusion of non-allopathic (AYUSH) treatment expenses
  • Reimbursement of pre and post-hospitalization expenses 
  • Indemnification for treatment of comorbidities

Bajaj Allianz does not offer the Corona Rakshak Policy. However, Manipal Cigna does. The policy provides: 

  • SI amounts up to Rs.2,50,000
  • Lump-sum payout of the SI on the diagnosis of COVID-19
  • A waiver of the pre-policy medical test