Care (Religare) Health Insurance vs Oriental Health Insurance

In the midst of the COVID pandemic, the year 2020 has made us realize that health insurance is more of a necessity than a luxury. To safeguard against the ever-increasing rise in incidence of ailments, it is vital to have a health insurance policy. Finding one will not be too hard, since leading insurance companies like Care Health Insurance and Oriental Health Insurance now offer a diverse range of insurance policies online. You can also use IIFL Insurance to compare and buy insurance policies and take a decision based on your own unique needs.

Care Health Insurance versus Oriental Health Insurance – Overview 

Parameter Care Health Insurance Oriental Health Insurance
Number of health insurance policies 13 10+
E-services Policy sale, Policy renewal, Claim settlement, Online consultation, Branch locator, 24×7 customer support  Policy sale, Policy renewal, Claim settlement, Online consultation, Branch locator, 24×7 customer service
Branches 1000+ 1000+
Claim settlement ratio (CSR) 92.30% 94.28%
Claim settlement time  Cashless claim settlement: In 2 hours Reimbursement: Within 15 – 30 days  Cashless claim settlement: Not specifiedReimbursement: Within 30 days
Network Hospitals  7,800+ 4,300+

*Source: IRDAI Annual Report 2018-19

Health Insurance Policies: Care Health Insurance versus Oriental Health Insurance

Care Health Insurance, formerly known as Religare Health Insurance, was founded in the year 2012 but has established a trusted name for itself within the insurance sector. Its high CSR of 92.3% in the FY 2018-1019 proves its commitment to deliver superior quality health care. The company has been awarded the ‘Best Health Insurance Company Award’ at the BSFI awards hosted by APB News, and other notable awards from reputed organizations. It offers 13 all-round health insurance policies that cover a wide range of health eventualities. 

Oriental Health Insurance has been a pioneer in providing health insurance since 1950 and carries a stamp of reliability as it is government owned. Its CSR of 94.28% mirrors the service quality it provides to its customers. The company also has a range of leading network hospitals spread across the nation’s best metropolitan cities. It offers over 10 health insurance policies to cover an extensive range of health issues.  

This comparative guide of Care Health Insurance and Oriental Health Insurance will guide you towards the right insurance provider. 

Family Floater Policy: 

Care Health Insurance Family Floater Policy, called ‘Care’ offers: 

  • A sum insured (SI) amount up to Rs.6,00,00,000
  • Coverage for in-patient hospitalization charges up to the SI
  • Coverage for pre and post hospitalization charges and ambulance charges 
  • Up to 10% of the SI for domiciliary hospitalization 
  • Coverage for daycare procedures, organ donor expenses, alternate (AYUSH)# treatment, and over 10 modern technology treatments 
  • Provision of annual health check-up and second medical opinion 

 

# – AYUSH (Ayurveda, Yoga, Unani, Siddha, Homeopathy)

Oriental Health Insurance Family Floater Policy’ offers:

  • 3 sub-plans – Silver (providing a sum insured (SI) of Rs.5,00,000), Gold (providing a SI of Rs.10,00,000) and Diamond (Providing a SI of Rs.20,00,000)  
  • Coverage for in-patient hospitalization, pre and post hospitalization charges
  • Lump-sum payment of 10% of the SI for the organ donor and 100% of SI for the organ recipient 
  • Reimbursement of AYUSH treatment expenses and mental health illness treatment 
  • Coverage for domiciliary hospitalization, daycare procedures, advanced treatment 

 

Senior Citizen Policy: 

Care Health Insurance Senior Citizen Policy offers: 

  • A sum insured (SI) amount up to Rs.10,00,000 (Rs.10 lakhs)
  • Coverage for in-patient hospitalization expenses 
  • Coverage for pre and post hospitalization expenses
  • 10% of the SI for domiciliary hospitalization 
  • Up to Rs.20,000 for AYUSH treatment and up to Rs.1,00,000 for organ donor expenses
  • Coverage for ailments like cataract, total knee replacement, hernia, cancer, bone breakage, etc.
  • A waiver of pre-policy medical test for buying the policy

 

Oriental Health Insurance has a ‘Health of Privileged Elders Policy’ that offers: 

  • A sum insured (SI) amount up to Rs.5,00,000
  • Coverage for 11 senior-citizen specific ailments like accidental injury, knee replacement, benign prostate, cancer, cardiovascular diseases, etc. 
  • Coverage for in-patient and domiciliary hospitalization expenses 
  • Coverage for AYUSH treatment, daycare procedures and advanced treatments

 

Corona Kavach Policy: 

To battle COVID-19, the IRDAI issued a directive mandating all insurance companies across India to provide coverage against the disease. In pursuance of this, both Care Health Insurance and Oriental Health Insurance offer standard plain vanilla Corona Kavach policies with similar features. They provide: 

  • A sum insured (SI) amount up to Rs.5,00,000
  • Coverage for in-patient hospitalization expenses
  • Coverage for pre and post hospitalization expenses
  • Coverage for domiciliary hospitalization and AYUSH treatment 

 

Before buying an insurance policy, always read the complete policy wordings with care, to avoid any oversight. Remember, there is a lot of devil in the details so don’t miss out on the fine print.

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