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National Insurance Co. Ltd.

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National Insurance Co. Ltd.
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The Company is another one of the public sector insurance companies in India. It has a vast array of health insuance policies, some of which are listed below.

Critical Illness policy
This is a policy for individuals in the age group 20–65 years covering the following critical ailments:
  • Coronary Artery Surgery
  • Cancer
  • Renal Failure ie. Failure of both Kidneys.
  • Stroke
  • Multiple Sclerosis
  • Major organ transplants like kidney, lung, pancreas or bone marrow.
The Sum Insured under the policy will have four levels: Rs. 5 lacs, 10 lacs, 20 lacs and 25 lacs. The amount chosen will be made available in lumpsum to the insured for medical expenses incurred in case of any of these illnesses. There are some caveats in the policy which need to be mentioned:
  • In the event of a claim, the critical illness has to be diagnosed by a registered medical practitioner, supported by radiological, histological and laboratory evidence acceptable to the company and to be reconfirmed by a registered Medical Practitioner appointed by the company.
  • The company shall compensate the insured only once for any particular Critical Illness
  • The claim will be paid if the insured person survives for 30 days after the diagnosis of the Critical Illness. The policy claim will not be reimbursed if the insured person falls ill within the first 90 days of buying the policy.
Personal Accident Policy
This policy compensates individuals against the following solely and directly resulting from accidental injuries:
  • Death
  • Loss of limbs
  • Loss of eyesight
  • Permanent total disablement
  • Permanent partial disablement
  • Temporary total disablement
Personal Accident Benefit
This consists of the following benefits if the insured sustains bodily injury due to an accident caused by external, violent and visible means.
  • Death: Rs 1 Lac
  • Loss of two limbs/two eyes/one limb and one eye: Rs. 1 Lac
  • Loss of one limb or one eye: Rs. 50,000
  • Permanent Total Disability: Rs. 1 Lac. (This part of the policy covers death / disability on 24 hour basis and is not limited only to accidents due to rail/road travel, but covers all types of accidents.)
Personal Accident Reimbursement
If the insured person sustains bodily injury which requires medical treatment as advised by a qualified Medical Practitioner arising solely and directly from rail/road accidents, the medical expenses for treatment are as following:
  • Hospitalization expenses for medical/surgical treatment at nursing home/hospital as an inpatient – up to Rs. 1 Lac.
  • Outpatient treatment up to Rs. 10,000 within the overall limit of Rs.1 Lac as mentioned above.
  • Domiciliary hospitalization is also covered in case the patient cannot be removed to the hospital or due to lack of accomodation in hospital.
The premium for this policy is Rs.150 for each insured person per year. The policy also has an assignment clause to help the insured to nominate the beneficiary in case of death due to accident.

Apart from the above, the policy includes expenses for carriage of dead body of the insured (in case of death due to accident only), an education fund for dependent children of the insured and a cumulative bonus benefit. Details for these can be found at the insurance company's website.

For Rural Markets
The National Insurance company also has a host of options for the rural markets. Some of these are as follows:
  • Rajrajeshwari Mahila Kalyan Yojana Policy aims at the welfare of women mainly of rural and semi–urban areas irrespective of income or occupation * Bhagyashree Child Welfare Policy is meant for protection of the child in the event of death of either or both the parents

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