Bajaj Allianz Health Insurance vs Royal Sundaram Health Insurance

Picture this – you are fit and fine, going about your daily life. Out of the blue, a health crisis strikes. Your family rushes you to the hospital but the charges are excessive. Soon, the bills pile up, and your loved ones have to dig into your hard-earned savings. If only you had health insurance, the costs of your treatment would not dig a hole into your savings. 

Fortunately, it is never too late to get a health insurance policy. Here is a comparison guide of health covers from Bajaj Allianz Health Insurance and Royal Sundaram Health Insurance to help you pick a plan suitable for your needs.

Bajaj Allianz Health Insurance vs Royal Sundaram Health Insurance – Overview 

ParameterBajaj Allianz Health InsuranceRoyal Sundaram Health Insurance
No. of health insurance plans 15+7
E-servicesPolicy salePolicy renewalClaim settlementOnline consultationBranch locator24x7 customer assistancePolicy salePolicy renewalClaim settlementOnline consultationBranch locator 24×7 customer care
Branches200+150
Claim settlement ratio (CSR)98%85%
Cashless claim settlement timeWithin 1 hour Within 3 hours 
Hospital network6,500+5,000+

*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 Royal Sundaram Health Insurance

Bajaj Allianz Health Insurance is one of the largest private insurers in India. It operates in over 1000 cities and towns. The company is well-known for its quick claim settlement and its customer-first approach. It has won several awards for its consistent claim settlement, including the recent honour of the title, ‘Best Insurer in India 2020’, by the IFC Financial Insights Innovation Awards. 

Royal Sundaram Health Insurance is the first private insurer in India to receive its license from the IRDAI. It operates through 156 branches and has over 4.5 million lives insured across the nation. The company is a pioneer in forming tie-ups with banks to offer retail products and introduce innovative health plans like cashless claim settlement and daily hospital cash allowances.  

Individual Personal Accident Policy: 

Bajaj Allianz offers 3 Individual Personal Accident policies: 

  1. A Personal Accident Policy that provides: 
  • 100% of the sum insured (SI) on accidental death
  • 125% SI on permanent total disability 
  • Up to 70% SI payouts on permanent partial disability 
  • Rs. 5,000 per week on temporary total disability 
  1. A Global Personal Guard Policy featuring: 
  • Multiple SI options up to Rs. 25,00,00,000
  • 100% payout of the SI on accidental death
  • Up to 100% of the SI on permanent total disability
  • Up to 75% of the SI on permanent partial disability
  1. A Premium Personal Guard Policy that offers: 
  • 100% SI payouts on accidental death
  • 200% SI on permanent total disability
  • Up to 75% SI on permanent partial disability 
  • Weekly payouts up to Rs. 10,000 on temporary total disability 

Royal Sundaram’s Personal Accident Policy provides: 

  • SI amounts up to Rs. 70,00,000 
  • Payout of the entire SI on accidental death and permanent total disability 
  • Up to 100% SI payouts on permanent partial disability
  • Weekly benefit for up to 104 weeks on temporary total disability

Arogya Sanjeevani Policy: 

The Arogya Sanjeevani Policy is a standard health insurance policy available from all insurers across India. The plans from different companies offer similar benefits.

The features of the Arogya Sanjeevani Policy from both Bajaj Allianz Health Insurance and Royal Sundaram Health Insurance include:

  • SI amounts up to Rs. 5,00,000
  • Coverage for in-patient, pre and post-hospitalization 
  • Up to 50% SI for daycare procedures 
  • Up to 25% SI for cataract treatment 
  • Expenses towards AYUSH treatments 
  • Cover for ambulance costs up to Rs.2,000 

Corona Kavach Policy: 

The Corona Kavach Policy is a standard health insurance plan providing coverage against COVID-19. Plans from all insurers across India offer similar benefits. 

The features of Bajaj Allianz Health Insurance and Royal Sundaram Health Insurance companies’ Corona Kavach Policy include:

  • SI amounts up to Rs.5,00,000
  • Coverage for pre, post and in-patient hospitalization
  • Home care and AYUSH treatment expenses 

Bajaj Allianz also provides:

  • Daily hospital cash benefits
  • Expenses of PPE kits, masks and gloves 

Royal Sundaram offers a 5% discount in premiums to healthcare workers.