New India Health Insurance Claim Settlement
The New India Assurance is a public sector general insurance company that provides an excellent claim settlement process to all its policyholders. This trusted general insurance company has a high New India Assurance claim settlement ratio.
New India Assurance provides its policyholders with the option to file claims through two methods, including cashless claims and reimbursement claims. The cashless claim facility is only available at a network hospital. There are over 1,500 network hospitals all across India that fall under the New India Assurance General Insurance company.
If you want to look for network hospitals in your area, then you should use the online network hospital locator tool. To use this tool, the individual has to start by entering the state and city of residence. The contact details will also be provided through the online network hospital locator tool.
New India Assurance Claim Settlement Time and Process
It should be noted that the New India Assurance claim settlement time is usually very small. The claim settlement can even be done in just a few hours! And to get a cashless claim settled, the policyholder has to visit a network hospital and seek treatment there.
If you want to know about the detailed steps that need to be followed for making a claim, then refer to the list given below.
- Look for the nearest and most suitable network hospital
- Visit the selected hospital and show your health card to the concerned person there
- The hospital will verify your identity details and send a pre-authorized request to the New India Assurance
- The request will be processed and accepted or denied
- If the claim request is approved, then the insurer will settle the bills directly with the hospital
- If the claim request is denied, then the insured person can continue seeking the treatment at the network hospitals by paying through his or her pocket. After that, a request for reimbursement can be made
Reimbursement Treatment Process
If the cashless claim has been rejected, then the insured person can file for a reimbursement claim. The steps that you need to follow to apply for a reimbursement treatment claim are:
- Get the original medical document at the time of discharge from the hospital
- Download the claim form from the New India Assurance official website or get the claim form from the nearest branch office
- Depending on the terms and conditions of the policy, the claim will be denied or approved
Documents Required for New India Assurance Claim Settlement
The New India Assurance claim settlement ratio is quite high because of the fact that the company has a ready list of documents that policyholders need to place claim requests. These documents are:
- Discharge certificate
- Card from the hospital
- Cash memos from the hospital
- Proper prescriptions from the chemist
- Pathological test reports
- Receipt from the pathologist
- Note from the attending medical practitioner or surgeon recommending the pathological tests
- A surgeon’s certificate specifying the nature of the operation
- Surgeon’s bill and receipt
- Bill and receipt of attending doctor, consultant, specialist, or anesthetist
- Certificate for diagnosis
New India Assurance Claim Settlement Ratio
The New India Assurance claim settlement ratio is quite high. Further, the Incurred Claim Ratio (ICR), which is defined as the ratio of claim incurred by the insurer to the actual premium collected during that period, is 103.19% for the financial year 2018 – 2019.
This incurred claim ratio also shows that the company is very trusted. It also reveals the pace of claim procedure and productivity of the health insurance company in terms of their revenue. If you want to buy car insurance, then you should also check the New India Assurance car insurance claim settlement ratio.
What is Covered in New India Assurance Health Policy?
The New India Assurance health insurance policies provide a lot of benefits, including:
- Offers protection to newborn babies from the date of birth without any waiting period
- Coverage for ICU charges for every hospitalized day up to 2% of the total sum assured
- Coverage for specific day care procedures
- Coverage for ambulance charges
- Coverage for pre-hospitalization and post-hospitalization charges
- Coverage for room and nursing charges, including charges for RMO, IV fluids, and blood transfusion
- Coverage for 11 critical illnesses
- Coverage for AYUSH treatments up to 25% of the total sum insured
- Health discounts
- Loyalty discounts
- Reimbursement of health checkup
Most of these benefits are also dependent on the sum insured option opted by the policyholder.
What is Not Covered in the New India Assurance Health Policy?
The following conditions are not covered under the New India Assurance health policies.
- Non-medical expenses like registration charges
- Treatment charges related to HIV, adventure sports, and unproven medical procedures
- Self-inflicted injuries, alcohol abuse, drugs
The Eligibility of New India Assurance Policy
If you want to know about the New India Assurance claim settlement ratio, then you should also know about the eligibility of the policy. The minimum entry age for the policy is 18 years and the maximum entry age is 65 years for adults. In the case of children, the minimum age is 3 months and the maximum age is 25 years.
The sum assured options available under these policies are INR 2 lakh, INR 3 lakh, INR 5 lakh, and INR 8 lakh. These sum insured amounts can also be increased at the time of renewal depending on the terms and conditions of the policy.
Ratings and Reviews
The New India Assurance health insurance policies have always been rated very highly because of the high New India Assurance claim settlement ratio. Some of these reviews are:
- Amazing Customer Care by Jiyansh Garg (5 stars / 5 stars)
I was able to buy a New India Assurance health insurance policy because of their amazing customer department. I always received prompt and happy responses. And I’m very happy with my entire experience.
- Very Quick New India Assurance Claim Settlement Time by Raghav Raghunandan (5 stars / 5 stars)
I have been a New India Assurance policyholder for a few months and I had applied for a claim a few days ago. The claim got quick and easy approval and I was able to focus on other things. Very thankful to the entire New India Assurance team.
What are the ways in which I can apply for a claim for my New India Assurance policy?
The New India Assurance settles claims in two ways, including reimbursement and cashless.
Are cashless claim facilities provided to policyholders by New India Assurance?
Yes, New India Assurance provides cashless claim facilities in more than 1,500 network hospitals.
I’m a New India Assurance policyholder. What are the documents that I would need at the time of claim settlement?
The documents needed at the time of claim settlement by the policyholder are:
Hospital cash memos
Prescription pathological test reports
Recept from the pathologist
Certificate, bill, and receipt from the surgeon
Bill and receipt by doctor, consultant, specialist, and anesthetist