The New India Assurance Company is a public sector insurance company owned by the Indian Government. The company was formed in the year 1919 by the legendary Sir Dorabji Tata. Today, New India has become a multinational company which is functioning in 28 countries across the world. The company’s headquarters are located in Mumbai but the company has presence pan India.
The company has been rated A by the AM Best Company and it has been maintaining this rating since the year 2007. Moreover, CRISIL has also rated the company AAA/Stable since 2014. The company’s business has also been growing ever since it was established.
New India Health Insurance Review – Highlights of the company
Scope of operation |
28 countries |
Global Gross Written Premium (as of 31st March 2020) |
INR 31,243.86 crores |
Growth rate |
11.52% |
Profit before tax (as of 31st March 2020) |
INR 1638.83 crores |
Net worth with Fair Value (as of 31st March 2020) |
INR 25,971.57 crores |
Asset Base (as of 31st March 2020) |
INR 74, 609.33 crores |
Solvency Ratio |
2.11 |
The New India Assurance mediclaim insurance plans offered by New India offer the following types of coverage features –
Under this feature, the costs incurred when you are hospitalised are covered. The hospitalisation should be for 24 hours or more and coverage is allowed for room rent, doctor’s fees, surgeon’s fee, nurse’s fee, etc.
Costs incurred before you are hospitalised are covered under pre-hospitalisation coverage benefits.
Costs incurred after you are discharged from the hospital for recovery and monitoring of the illness are covered under this head.
Treatments which do not require a hospital stay for 24 hours due to advanced technology are covered under most health insurance plans.
Non-allopathic treatments through Ayurveda, Homeopathy, etc. are also covered under many health insurance plans offered by New India.
If you are undergoing an organ transplant surgery, the costs incurred in harvesting the organ from an organ donor would be covered under the plan.
The costs incurred in transporting the insured individual to the hospital for hospitalisation are called ambulance costs. These costs are covered under health insurance plans up to specified limits
Domiciliary treatments include treatments taken at home because you cannot be moved to the hospital or because there is no hospital bed available. These treatments are covered under many New India Assurance mediclaim policies.
Some New India health insurance plans also allow coverage for maternity-related costs like those incurred on childbirth. These costs are covered up to a specific limit depending on the plan that you choose.
All health insurance plans offered by New India allow you free health check-ups after a specified duration. These check-ups allow you to track and monitor your health periodically.
If no claims are made in the preceding policy years your health insurance policy becomes eligible to earn a no claim bonus. The no-claim bonus is allowed either as an increase in the sum insured at the same level of premium or as a discount in the renewal premium.
There is a specific list of exclusion found in all New India Assurance mediclaim plans. These exclusions include those costs and treatments which are not covered under the plan. Some common exclusions include the following –
Optional coverage features are those which are not found inbuilt under the plan. However, they are available at an additional premium. New India Assurance mediclaim insurance plans allow different types of optional coverage benefits which are as follows –
Many plans offer maternity coverage as an optional benefit at an additional premium. Through this coverage, you can get the costs of childbirth covered under the plan.
Cataract coverage is allowed under some plans up to specified limits. These limits can be enhanced through this add-on.
You can choose to pay a portion of the claim from your own pockets. This is called voluntary co-payment. If this add-on is selected, you get premium discounts in the policy.
Here is a list of all the health insurance plans which are offered by New India Assurance Company –
This is a unique New India Assurance mediclaim plan which allows coverage only to parents who have a girl child. The policy can be taken to cover the girl child with either of the parents. The salient features of the plan are as follows –
Entry age |
Children – 3 months to 25 years Adults – 18 years to 65 years |
Sum insured |
INR 2 lakhs to INR 8 lakhs |
Policy tenure |
1 year |
This is a cancer cover policy which is issued to individuals who are members of the Indian Cancer Society. If you want to avail coverage, you would have to become a member of the Indian Cancer Society and then apply for the policy. The features of the plan are as follows –
Entry age |
18 years to 70 years |
Sum insured |
INR 50,000 to INR 2 lakhs |
Policy tenure |
1 year |
As the name suggests, this is a family floater health insurance plan which you can take to cover yourself, spouse and up to two dependent children. The features of the New India Assurance mediclaim policy are as follows –
Entry age |
Children – 3 months to 25 years Adults – 18 years to 60 years |
Sum insured |
INR 2 lakhs to INR 5 lakhs |
Policy tenure |
1 year |
This is an affordable health insurance plan which provides low-cost health insurance to economically weaker sections of the society. The features of the New India Assurance mediclaim plan are as follows –
Entry age |
5 years to 70 years Dependent children aged 3 months onwards can be covered if any one of the parents is covered |
Sum insured |
INR 2 lakhs to INR 8 lakhs |
Policy tenure |
1 year |
This is also an affordable health insurance plan which has the following features –
Entry age |
Children – 3 months to 18 years Adults – 18 years to 60 years |
Sum insured |
INR 50,000 and INR 75,000 |
Policy tenure |
1 year |
This is a family floater health insurance plan which can be availed to cover your family including dependent parents. The highlights of the New India Assurance mediclaim policy are as follows –
Entry age |
Children – 3 months to 25 years Adults – 18 years to 65 years |
Sum insured |
INR 1 lakh to INR 8 lakhs |
Policy tenure |
1 year |
This is also a family floater plan which has the following salient features –
Entry age |
Children – 3 months to 25 years Adults – 18 years to 65 years |
Sum insured |
INR 2 lakhs to INR 15 lakhs |
Policy tenure |
1 year |
This is a unique health insurance plan available for individuals who already have health insurance coverage of INR 8 lakhs and above. The features of the New India Assurance mediclaim plan are as follows –
Entry age |
18 years to 75 years |
Sum insured |
USD 1 million and USD 2 million |
Policy tenure |
1 year |
This is a New India Assurance mediclaim plan which can be taken to cover your entire family. The salient features of the plan are as follows –
Entry age |
Children – 3 months to 25 years Adults – 18 years to 65 years |
Sum insured |
INR 1 lakh to INR 15 lakhs |
Policy tenure |
1 year |
This is a premium health insurance plan which allows a lot of coverage benefits and can be taken for the whole family. The features of the New India Assurance mediclaim policy are as follows –
Entry age |
Children – 3 months to 18 years Adults – 18 years to 65 years |
Sum insured |
INR 15 lakhs to INR 1 crore |
Policy tenure |
1 year |
This is a senior citizen medical insurance policy which covers individuals aged 60 years and above. The features of the New India Assurance mediclaim policy are as follows –
Entry age |
60 years to 80 years |
Sum insured |
INR 2 lakhs to INR 5 lakhs |
Policy tenure |
1 year |
This is a super top-up health insurance plan which helps in increasing existing health insurance coverage. The plan has a deductible limit and if the claim exceeds the deductible limit the excess claim is paid. Other features of the New India Assurance mediclaim policy are as follows –
Entry age |
Adults – 18 years to 65 years Other family members – 3 months to 65 years |
Sum insured |
INR 5 lakhs to INR 22 lakhs |
Deductible |
INR 5 lakhs and INR 8 lakhs |
Policy tenure |
1 year |
This is also a senior citizen New India medical insurance plan which has the following salient features –
Entry age |
60 years to 80 years |
Sum insured |
INR 1 lakh and INR 1.5 lakhs |
Policy tenure |
1 year |
This is a group health insurance scheme which is available for covering a group of 100 families and above. The features of the New India medical insurance plan are as follows –
Entry age |
Children – 3 months to 5 years Others – 18 years to 65 years |
Sum insured |
Hospitalisation cover – INR 30,000/family Accidental death cover – INR 25,000/family Disability compensation – INR 50/day/family |
Policy tenure |
1 year |
When buying a New India medical insurance plan, here are some points which you should know-
You can buy New India health insurance plans online. The company allows various health insurance policies to be bought online. You can visit the company’s website, choose the policy that you want to buy and click to buy it online. You would just have to fill up an online proposal form and pay the premiums online and the policy would be bought.
There is another way to buy the policy online and it is through Turtlemint. Turtlemint is an online platform through which you can easily buy the most suitable New India health insurance plan. To buy through Turtlemint, here are the steps –
Renewal of New India health insurance plans is also possible online. New India offers you a quick renewal option to renew the policy. The steps are as follows –
Renewal is also possible through Turtlemint. If you have purchased your policy through Turtlemint’s platform you would have the online login credentials to your account. You can log into your account using your login credentials. Once you are logged in you can view the plans which you have bought. You can then choose to renew your health insurance coverage online. For renewing you would have to pay the premiums online and the renewal would be done.
Premiums for New India mediclaim policies can be paid online or offline. The various means to pay are as follows –
Claims under New India Assurance health insurance plans can be made through the following steps –
The following set of documents would have to be submitted to the TPA for your claim to get processed and settled –
Turtlemint allows you an easy alternative for your health insurance claims. Through Turtlemint’s help you can get your claims settled faster and that too with minimal hassles. Turtlemint has an in house dedicated claim management team of experts who go through the claim process on your behalf. You just have to inform the company of your claim and set back and see your claims getting settled. To inform, call Turtlemint’s toll-free helpline number 1800 266 0101 or drop an email to claims@turtlemint.com. Once informed the claim experts would take your claim forward by coordinating with the insurance company and you would not have to undertake any hassles.
New India Company is tied-up with most of the leading hospitals across India allowing you to avail cashless treatments with ease. The networked hospitals of the company are called Preferred Provider Network (PPF) and their list is available on the company’s website. To locate a networked hospital in your city you can visit https://www.newindia.co.in/portal/readMore/HospitalsList and choose your city. The list of hospitals in your city would be displayed. You can also contact the insurance company to find the networked hospitals in your city if you are unable to locate the hospital on the above-mentioned link.
If you want to contact the company for any queries, complaints or feedback, here are the various modes through which you can do so –
Online – You can visit https://www.newindia.co.in/portal/contactUs and fill up the online contact form and the company would call you back with assistance
Under many health insurance plans, there is a concept of co-payment wherein you are required to bear a part of your claim yourself. The insurance company would pay the claims which are in excess of the co-payment ratio. For example, if the co-pay ratio is 20%, 20% of the claim would be borne by you and the insurance company would bear the remaining 80%. Co-payment is usually applicable where senior citizens are insured.
If the plan allows maternity coverage, costs incurred in childbirth through normal or Caesarean delivery, pre-natal and post-natal care and any other charges related to childbirth are covered under the plan. However, routine doctor’s consultations during pregnancy, diagnostics, etc. would not be covered.
Under health insurance plans you can claim a tax deduction of up to INR 1 lakhs through the provisions of Section 80D. Here’s how –
Yes, you can choose as many optional covers that you like depending on your coverage needs. For each optional cover selected, however, you would have to pay an additional premium.
Yes, you can cancel the New India mediclaim policy either within the free-look period or after the completion of the free-look period. When you cancel, a part of the premium would be refunded back depending on the tenure after which you cancel the plan.
For any complaints and grievances, you can contact the company by calling its toll-free number 1800 209 1415 or by sending an email to tech.support@newindia.co.in. You can also visit the company’s branch with your complaint.