Bajaj Allianz Health Insurance vs Oriental Health Insurance

‘Prevention is better than cure’ – You might have heard this statement several times. While this holds true for any matter of crucial importance, it makes even more sense when it comes to your health.Preserving your health and preventing it from getting negatively affected in a health crisis are vital. One of the strongest preventive measures you could take against any harm to your health is getting health insurance.

Health insurance is a financial cushion you can rely on when you have to face medical expenses. But the type of health insurance policy you get decides how much of a fall the cushion can take. Reading a comparison guide of different policies, like the offerings from Bajaj Allianz Health Insurance and Oriental Health Insurance, can be the first step towards making that decision. 

Bajaj Allianz Health Insurance vs Oriental Health Insurance– Overview 

Parameter Bajaj Allianz Health Insurance Oriental Health Insurance
No. of health insurance policies 15+ 10+
E-services Policy salePolicy renewalClaim settlementOnline consultationBranch locator24x7 call assistance Policy salePolicy renewalClaim settlementOnline consultationBranch locator 24×7 customer support
Branches 200+ 1000+
Claim settlement ratio (CSR) 95.01% 94.28%
Hospital network 6,500+ 4,300+

*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 Oriental Health Insurance

Bajaj Allianz Health Insurance offers over 15 health insurance policies. They cater to the needs of individuals, families, senior citizens and corporate groups, among others.

Oriental Health Insurance has over 10 health insurance policies to choose from. They cover the needs of individuals, families, senior citizens, corporate groups, and more. 

Individual Personal Accident Policy: 

Bajaj Allianz has two Individual Personal Accident Policies: 

  • Personal Accident Policy
  • Global Personal Guard Policy

The Personal Accident Policy offers: 

  • Sum insured (SI) amounts up to Rs. 25,00,000
  • Between 100%-125% SI payout on accidental death and permanent total disability 
  • Up to 70% SI on permanent partial disability 
  • A weekly benefit of Rs. 5,000 per week on temporary total disability 
  • A child education fund up to Rs. 5,000 for each dependent child 
  • Coverage of hospitalization expenses (up to Rs. 5,00,000)
  • Hospital cash allowance up to Rs. 1,000 for 30 days 
  • Up to Rs. 5,000 for transportation of mortal remains 

The Global Personal Guard Policy provides: 

  • Multiple SI options up to Rs. 25,00,00,000
  • 100% SI on accidental death and permanent total disability 
  • Up to 75% SI on permanent partial disability 
  • Several optional add-on benefits and covers 
  • 1% of the SI for funeral expenses and transportation of mortal remains 

Oriental Health Insurance’s Personal Accident Policy provides: 

  • The entire SI on accidental death or permanent total disability 
  • 50% SI on permanent partial disability 
  • 100% SI in case of job loss due to a permanent total disability 
  • 1% SI per week for 100 weeks on temporary total disability 
  • Reimbursement of funeral and transportation expenses (up to 2% of the SI)
  • Up to 10% SI towards an education fund 

Top-up Insurance Policy: 

Bajaj Allianz has an ‘Extra Care Plus Policy’ that offers:  

  • Multiple SI options up to Rs.50,00,000
  • Coverage for pre, post, and in-patient hospital care expenses 
  • Reimbursement of expenses towards daycare procedures and organ donor transplantation
  • Up to Rs. 7,50,000 for maternity needs 
  • Cover for pre-existing diseases after a 1-year waiting period 
  • Payouts for emergency road ambulance services 

Oriental Health Insurance’s Top-up Insurance Policy benefits include:

  • Multiple SI options up to Rs. 30,00,000
  • Coverage for pre, post and in-patient hospital care expenses 
  • Recompense for in-patient hospital care for organ donor transplantation
  • Indemnification of HIV and mental illnesses treatment costs
  • Settlement of expenses for over 10 daycare procedures
  • A maternity and newborn baby cover 
  • Inclusion of telemedicine expenses

Corona Kavach Policy:

After the IRDAIs mandate in 2020, ensuring availability of affordable COVID-19 coverage nationwide, all insurers across India now offer a standard Corona Kavach Policy. 

Thus, the policy shares almost the same features across every insurance company. This goes for Bajaj Allianz Health Insurance and Oriental Health Insurance as well. Their Corona Kavach Policies offer: 

  • SI amounts between Rs. 50,000 and Rs. 5,00,000
  • Coverage for pre, post and in-patient hospital care 
  • Expenses towards AYUSH treatment and domiciliary hospitalization 
  • Daily hospital cash allowances 
  • Inclusion of comorbidity treatment
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