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TATA AIG

TATA AIG

Medicare LITE

This is a basic health insurance policy from the TATA AIG stable. The plan offers a list of staple features and has nothing unique. On the other hand, the plan has a few caveats that can’t be overlooked if you are in the market for a comprehensive policy - room rent restrictions (up to a single private room) and a 20% mandatory copayment (if the policyholder is 61 years or above during purchase).

What's good here?

coPay

You most likely don't have to split the bill

If you bought this policy after you turned 61, you have to pay 20% of the bill every time you make a claim. Otherwise, you are good to go. The insurer will pay all costs up to the sum insured.

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diseaseSublimit

You always have full cover irrespective of the disease

No funny business here. If your insurer hasn’t explicitly stated they won’t cover a certain illness, you can claim the full amount up to the sum insured, irrespective of the disease you’re dealing with. Meaning this policy doesn't impose the dreaded disease wise sub-limits.

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restoration

Good Restoration Benefit

Even after you claim part of the cover on one occasion, you will have 100% of the cover restored, so that you can use this benefit in the event you have to endure multiple hospitalizations.

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ncb

Special Bonus for being healthy and not claiming insurance

Your sum insured increases by 50% each year, so long as you make no claims during this period. But before you get too ahead of yourself, do note that they’ll stop offering you the bonus when your sum insured increases by 100%. Also, the bonus amount will reduce at same rate each time you make a claim. But hey, it's still a bonus.

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domiciliary

Full coverage even if you are forced to hospitalize at home

The insurer will bear the costs even if you are hospitalized at home due to a condition or the hospital running out of beds. In insurance lingo, they call this a policy with domiciliary cover.

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prePost

Pre & Post hospitalization expenses covered

No worries if the doctor had to run a host of diagnostic tests before or after hospitalizing you. The insurer has your back. They will cover this amount in full for a pretty reasonable duration - 180 days before you are hospitalized and 60 days after discharge. This includes the cost of medication by the way.

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dayCare

Day Care treatments covered

If you’re hospitalized for less than 24 hours in lieu of a minor procedure, then the insurer will cover these costs too. Think dialysis, chemotherapy or minor surgeries.

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healthCheckup

Free Health Checkups every year

If you’re planning on getting a full body checkup every year just to make sure you’re in fine working condition, the insurer will cover the costs.

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ayush

Covers Alternative Medicine

Think of getting Ayurvedic, Homeopathic or other alternative treatments to cure an illness? Your insurer will cover you fully, up to the sum insured.

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What's okay here?

roomRent

You can pick a Single Private room but nothing fancy

You can share a room or you could have a single room for yourself. But if you are looking for anything slightly fancy, be ready to foot a part of the bill.

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ped

Reasonable waiting period for pre-existing diseases

If you’re already dealing with diabetes, cardiovascular problems or any such illnesses, the insurer will cover all costs arising out of these pre-existing problems after you wait for 3 years.

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Add-ons

Consumables Cover

This add-on covers the cost of non-payable items that are used during the course of treatment for an illness or injury, such as dressings, bandages, syringes, and other medical supplies.

Personal Accident cover

With this add-on, the insurance company will payout a lumpsum amount based on the cover chosen, in case the selected insured member of the policy passes away in an accident.

Frequently Asked Questions

Yes. Medicare LITE imposes 3 kinds of waiting periods -
  • 30-Day Waiting Period: Hospitalizations won’t be covered for the first 30 days of the policy unless it’s an accident.
  • Specific Illness Waiting Period: There’s a 2-year waiting period for a list of diseases which is a mandate before you can start claiming.
  • Pre-Existing Disease Waiting Period: There's a 3-year waiting period for any pre-existing disease you may have while buying the policy.
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