Health Insurance
Royal Sundaram
Royal Sundaram General Insurance is a venture majorly partnered by Sundaram Finance, the Indian NBFC group and 200 year-old Belgian-based Ageas Insurance. They are the first private general insurance company to get licence in India and they offer Health, Motor, Travel and Home Insurance. It has two Health Insurance policies, one Individual and one Family, among which they provide Maternity benefit as well.
Royal Sundaram Health insurance plans
Family Plus
Royal Sundaram Family Plus can be a decent pick if you are looking for a family health insurance plan. Apart from the basics, the plan offers coverage for animal bite treatment (up to ₹5000/policy year) and maternity coverage of up to ₹50k (waiting period of 2 years only). Unfortunately, the policy is not without its caveats. The plan has a 50% sub-limit on its coverage for modern treatments, and while the insurer offers the restoration perk, it can only be availed once a year and for different ailments.
Lifeline Elite
Royal Sundaram Lifeline Elite is a premium policy, plain and simple. You get a massive cover (25 lakhs-1.5 Cr). No outrageous conditions. Comprehensive coverage, including outpatient and maternity benefits. A great policy, albeit very expensive.
Advanced Top Up
Like any other Super Top-Up plan, the Royal Sundaram Advanced Top-Up offers a large buffer against a nominal spike in premium. The offering ranges from ₹10 lakhs to ₹95 lakhs against a deductible of ₹5 lakhs to ₹25 lakhs. This Top-Up plan from Royal Sundaram has one unique perk - if diagnosed with any of the listed life-threatening ailments, the insurer will offer you an additional amount of up to 10% of the base sum insured if the base amount falls short during claim settlement.
NextGen
Royal Sundaram’s NextGen is a basic policy offering some customisations, like reduced waiting periods for pre-existing conditions (Asthma, Hypertension, High Cholesterol, Diabetes), maternity and OPD add-ons, and enhanced pre/post-hospitalization benefits. However, it has drawbacks like room restrictions, low bonuses, and limited restoration. While the add-ons improve the policy, they also raise premiums and reduce overall comprehensiveness.
Lifeline Classic
Royal Sundaram Lifeline classic policy might only offer you a cover totalling 2 -4 lakhs. But make no mistake, it offers pretty extensive coverage. It has decent benefits. It doesn't include any absurd conditions. And perhaps the only niggling bit is that it is slightly expensive.
Lifeline Supreme
Royal Sundaram Lifeline Supreme covers most use cases. You get a large cover (5 lakhs-50 lakhs) You won't have to worry about hidden T&C's. You get really comprehensive coverage. A host of benefits to go along with it. And it's a pretty good policy overall. No complaints!!!
Multiplier Health
Royal Sundaram Multiplier Health Insurance is a unique plan across the industry - standing true to its name, the policy offers 4 times its sum insured (including the No-Claim Bonus) if you are diagnosed with any of the listed life-threatening medical conditions. The amount so disbursed can be used in the treatment of the ailment. The only clause associated with this perk is that policyholders can use this perk only 4 times across the policy period. However, despite this associated clause, the policy can be a good pick if you are comfortable with Royal Sundaram as your health insurer.
Royal Sundaram Health insurance claim process
Royal Sundaram claims can be of different types based on the hospital in which you are getting the treatment. If it’s part of Royal Sundaram's network hospitals, you can get a “Cashless claim” in which insurance company directly pays the bills to the hospital. But if your choice of hospital is not part of their network, then you have to pay the bills and apply for reimbursement claim. Here’s a brief process for both types of claims:
Cashless Claims
Inform the Hospital Desk
All network hospitals have an insurance desk. You can submit your policy copy (even soft copy works), ID proof, initial diagnosis report and the insurance desk will request the insurance company for “pre-authorization”. In case of planned treatments, you need to do this process 2 days before hospitalization
Insurer’s decision
Based on the provided documents, insurance company approve the claim and the hospital will start the treatment and they will co-ordinate with insurer for the treatment costs. In case of Cashless claim rejection, you can still go ahead with the treatment. In this case, you will need to pay the bills initially and can file for a reimbursement claim later
Discharge
If your cashless claim is approved, at the time of discharge, the insurance company will do the final settlement with the hospital and once that is sorted, you are good to go.
Reimbursement Claims
Inform the insurance company
For any planned treatments, you need to inform the insurance company 2 days before hospitalisation. In case of emergency, you can inform within 24 hours of admission. Insurance company will acknowledge the intimation.
Hospitalization
You need to submit a insurance claim form along with original copies of hospital bills, doctor consultation reports, and diagonstic reports.
File the claim
Within 30 days post discharge, you can initiate the claim online or at any of the registered offices of the insurance company. You need to fill a claim form and attach all the reports and bills.
Insurer’s decision
Based on the claim form and submitted documents, insurance company will settle the claims as per policy terms and conditions.
Royal Sundaram Health Insurance Renewal
Firstly, if you’ve purchased the policy online, you’ll always receive an intimation e-mail from the insurer around 30 days before the renewal date. The e-mail will have a renewal link that will directly take you to the page where you can make the payment and check policy details. And it’s done. You’ll receive the policy document via e-mail.
However, in case you choose to do it on your own, here’s what you need to do:
Visit the website
Visit the Royal Sundaram website and then go to the Renewal section here.
Enter details
You’d be asked to provide your current policy number which you can find in the policy soft copy. You may as well be asked to enter your mobile number, email ID, Date of Birth or policy expiry date.
Review and edit the policy details
Next, you’ll be able to see details of your new policy and the renewal premium you need to pay. Also, you’ll be given the option to make some changes related to sum insured, existing covered members, etc.
Complete the payment and it’s done
Once you confirm the details, you’ll be directed to the payment gateway. Once the payment is complete, you’ll receive your new policy soft copy via e-mail.
Few things to consider when renewing your Royal Sundaram health insurance policy
- If you want to increase your Sum Insured, now is the time. You can’t do it anytime during the year.
- If you didn’t make a claim in the past year, make sure you have been given a no-claim bonus if your policy offers it.
- If you want to add members like your spouse or kids, you have the option to do so only at the time of renewal. So do give this a thought.
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