The New India Assurance Company Limited is a government general insurance company operating in 28 countries worldwide. New India Assurance was founded in 1919 by Sir Dorabji Tata. It is headquartered in Mumbai with more than 2097 offices, more than 19000 employees, and 1,02,804 agents providing insurance services to customers.
New India Assurance Health Insurance is one of the largest general insurance companies in India, offering a range of insurance products, including health insurance. New India Assurance health insurance policies are designed to cover medical expenses incurred by an individual or family during hospitalization, surgery, or other medical procedures.
New India Assurance Health Insurance has received many awards and accolades in the last few years. Below mentioned are some of the awards received by New India Assurance Company Limited:
- New India Assurance won the “General Insurance Company of the Year” in the India Insurance Summit Award in 2018.
- New India Assurance won the “Product Innovator Of The Year- Title Insurance Policy” in the India Insurance Summit Award 2018.
- New India Assurance won the “Outlook Money Gold Award” from Outlook Money in 2018.
- New India Assurance won the “Best General Insurer of the Year” award in Business Today Financial in 2018.
- New India Assurance won the “Best General Insurance Company” award from ABP News in 2016.
New India Assurance Health Insurance Specifications
Below are the key specifications of New India Assurance health insurance company:
| Parameters | Specifications |
|---|---|
| Network Hospitals | 3000+ |
| Incurred Claim Ratio (2022-23) | 103.33 |
| Claim Settlement Ratio (less than 3 hrs) (2021-22) | 92.93 |
| Number of Branches | 2097 branches |
| Solvency Ratio (2022-23) | 1.82 |
| Market Share (2022-23) | 17,338.57 crore |
*Data has been sourced from the annual report of IRDAI 2021-22 and 2022-23
Key Features of New India Assurance Health Insurance
New India Assurance Health Insurance has become one of the health companies most preferred and trusted by its customers in India. Let us have a look at the key features which will help you in analyzing the company's performance to get more idea about how the company is performing:
Network Hospitals
New India Assurance health insurance has tie-ups with more than 3000 network hospitals nationwide where policyholders can avail of cashless medical treatment in times of emergency.
Claim Settlement Ratio
The claim settlement ratio of an insurance company tells us the claim-settling ability of the health insurance company. As per the annual report of IRDAI, New India Assurance has a claim settlement ratio of 92.93% in the year 2021-22.
Quick and Easy Claim Settlement Process
New India Assurance Health Insurance has a quick and hassle-free claim settlement process, ensuring that policyholders can receive claims for their medical expenses quickly and easily.
Tax Benefits
Policyholders can avail of tax benefits under Section 80D of the Income Tax Act, 1961, for the premium paid towards their New India Assurance Health Insurance policy.
Solvency Ratio
According to IRDAI's annual report for 2022–2023, New India Health Insurance has a 1.82 Solvency Ratio. A potential policyholder can use the solvency ratio to assess a company's ability to meet its financial obligations. All insurers must maintain a minimum solvency ratio of 1.5 under IRDAI regulations.
PAN India Presence
New India Assurance Health Insurance has over 2097 offices across India with over 19000 employees. Policyholders can visit these offices in case of any policy or claim-related queries.
Health Insurance Policy Offered Under New India Assurance Health Insurance
New India Assurance offers a range of health insurance plans, including individual health insurance plans, family floater plans, and senior citizen plans, each with varying coverage and benefits. Hence, we have made a list of all the health plans of New India Health Insurance along with their coverage benefits and eligibility criteria and categorized them into various categories as given below:
Individual and Family Health Insurance Plans
 |
New India Assurance Arogya Sanjeevani Policy |
Coverage Benefits
- Covid-19 Treatment
- Dental Treatment
- HIV Treatment
Eligibility Criteria
Entry Age: 3 months to 65 years
Sum Insured: 50K to 10 Lakhs
|
New India Jan Arogya Bima Policy |
Coverage Benefits
- Genetic disease and disorder
- Psychological Treatment
- Domiciliary Treatment
Eligibility Criteria
Entry Age: 5 Years to 70 years
|
New India Janata Mediclaim Policy |
Coverage Benefits
- AYUSH Treatment
- Ambulance Services
- Pre and Post-Hospitalization
Eligibility Criteria
Entry Age: 3 months to 60 years
Sum Insured: 50K to 75K
|
New India Flexi Floater Mediclaim Policy |
Coverage Benefits
- Room Rent Covered
- ICU Expenses Covered
- Pre and Post-Hospitalization
Eligibility Criteria
Entry Age: 3 months to 65 years
Sum Insured: 2 Lakh to 15 Lakhs
|
New India Flexi Group Mediclaim Policy |
Coverage Benefits
- ICU Expense Covered
- AYUSH Treatment
- Cataract Treatment
Eligibility Criteria
Entry Age: 91 Days to 65 years
Sum Insured: 2 Lakh to 15 Lakhs
|
New India Mediclaim Policy |
Coverage Benefits
- ICU Charges
- Cataract Treatment
- AYUSH Treatment
Eligibility Criteria
Entry Age: 3 months to No Limit
Sum Insured: 1 Lakh to 15 Lakhs
|
New India Premier Mediclaim Policy |
Coverage Benefits
- Room Rent Covered
- Daily Hospital Cash
- Organ Donor
Eligibility Criteria
Entry Age: 3 months to 65 Years
Sum Insured: 15 Lakhs to 1 Crore
|
New India Standard Group Janata Mediclaim |
Coverage Benefits
- ICU Charges
- AYUSH Treatment
- Cataract Treatment
Eligibility Criteria
Entry Age: 3 months to 65 Years
Sum Insured: 15 Lakhs to 1 Crore
|
New India Universal Health Insurance Scheme |
Coverage Benefits
- ICU Expense
- Maternity Cover
- Personal Accident Cover
Eligibility Criteria
Entry Age: 3 months to 70 Years
Sum Insured: 30K and 25K
|
New India Young India Digi Health Policy |
Coverage Benefits
- Room Rent
- Hospital Daily Cash
- Dental Treatment
Eligibility Criteria
Entry Age: 91 Days to 45 Years
Sum Insured: 4 Lakhs and 8 Lakhs
|
New India Yuva Bharat Policy |
Coverage Benefits
- Cost of Health Checkup
- Hospital Daily Cash
- Road Ambulance
Eligibility Criteria
Entry Age: 91 Days to 45 Years
Sum Insured: 5 Lakhs to 50 Lakhs
|
New India Asha Kiran Mediclaim Policy |
Coverage Benefits
- Room Rent
- ICU Cover
- No Claim Bonus
Eligibility Criteria
Entry Age: 91 Days to 65 Years
Sum Insured: 2 Lakhs to 8 Lakhs
|
New India Top-up Mediclaim Policy |
Coverage Benefits
- AYUSH Treatment
- Cataract Treatment
- Hospital Daily Cash
Eligibility Criteria
Entry Age: 18 years to 65 Years
Sum Insured: 5 Lakhs to 22 Lakhs
Senior Citizen Health Insurance Plans
|
New India Senior Citizen Mediclaim Policy |
Coverage Benefits
- AYUSH Treatment
- Organ Treatment
- Cataract Treatment
Eligibility Criteria
Entry Age: 60 years to 80 years
Sum Insured: 1 Lakh to 1.5 Lakh
|
New India Sexty Plus Mediclaim Policy |
Coverage Benefits
- Attendant Benefit
- Cumulative Bonus
- Pre and Post Hospitalization
Eligibility Criteria
Entry Age: 60 years to 80 years
Sum Insured: 2 Lakh to 5 Lakh
Critical Illness Health Insurance Plans
|
New India Cancer Guard Policy |
Coverage Benefits
- ICU Charges
- OPD Charges
- Room Rent Cover
Eligibility Criteria
Entry Age: 3 months to 60 years
Sum Insured: 5 Lakhs to 50 Lakhs
|
New India Tertiary Care Insurance |
Coverage Benefits
- Ambulance Expense
- Domiciliary Treatment
- 9 Major Illments Covered
Eligibility Criteria
Entry Age: Up to 75 years
Sum Insured: 50K to 5 Lakhs
New India Assurance Health Insurance Premium Calculation
The premium for New India Assurance health insurance will depend on several factors, such as the type of plan you choose, your age, your medical history, and the sum insured you opt for. Here are the factors that can affect your premium calculation:
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Age
Age is one of the most critical factors that affect your premium amount. The older you are, the higher your premium, as the risk of health complications and medical expenses increases with age.
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Health condition
Your current health condition and medical history will determine your premium. You may have to pay a higher premium if you have a pre-existing medical condition.
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Type of plan
The premium for a comprehensive health insurance plan with a higher sum insured will be higher than that for a basic health insurance plan.
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Sum insured
The higher the sum insured you opt for, the higher your premium will be.
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Co-payment
If you choose a policy with co-payment, where you pay a certain percentage of the claim amount, your premium will be lower than a policy without co-payment.
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Deductible
If you choose a policy with a deductible, paying a certain amount of the claim before the insurance company pays the rest, your premium will be lower than a policy without a deductible.
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Add-ons
Add-on riders enhance the basic coverage benefits of a health plan. A policyholder can add additional riders as required by paying some additional premium.
To calculate your New India Assurance plan premium, you can use the online premium calculator provided by New India Assurance on their website. You will need to enter your age, gender, sum insured, policy term, and any add-ons you require to get an estimate of the premium.
New India Assurance Health Insurance Add-on Riders
New India Assurance offers a range of health insurance add-on riders that policyholders can opt for to enhance their coverage. Some of the common add-on riders offered by New India Assurance under their Health Insurance plans are:
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Hospital Cash Benefit
This rider provides a fixed daily allowance to the policyholder for each day of hospitalization. Hospital Cash Benefit is payable irrespective of the actual hospital expenses incurred by the policyholder.
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Critical Illness Benefit
This rider provides a lump sum amount to the policyholder on the diagnosis of any critical illness covered under the policy. The benefit can be used to cover medical expenses incurred during the treatment of illness.
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Personal Accident Benefit
Personal Accident Benefit Rider provides compensation in case of accidental death, permanent total disability, or partial disability of the policyholder due to an accident.
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Maternity Benefit
This rider covers the expenses related to maternity, including normal and c-section delivery, pre and post-natal expenses, and newborn baby cover.
Why Buy Health Insurance Plans from New India Assurance Health Insurance?
New India Assurance Health Insurance is one of the leading general insurance companies in India that offers a wide range of health insurance plans to cater to the diverse healthcare needs of individuals and families. Here are some reasons why you may consider buying health insurance plans from New India Assurance:
- Government health insurance company
- Customer-centric Approach
- Easy claim settlement process
- Comprehensive coverage
- More than 90% claim settlement ratio
- Wide range of health insurance plans
New India Assurance Health Insurance Exclusions
Below are the standard exclusion not covered under New India Assurance Health Insurance plans, but they may vary from plan to plan.
Change of Gender Treatment
Breach of Law
Correction of eyesight
Suicide or attempted suicide
Sexually transmitted diseases (STDs) like HIV
Alcohol or drug abuse
Cosmetic Surgery
Unproven treatments
Injuries happened due to participation in adventurous sports
Weight reduction treatment
Medical expenses incurred due to war or similar conditions
New India Assurance Health Insurance Buying Process
Customers can buy a New India Assurance health plan from the official website of New India Health Insurance and "RenewBuy.com". Below, we have mentioned both the buying processes for New India Assurance health insurance in detail:
Buy from "RenewBuy.com"
- Visit the official website of "RenewBuy".
- Click on the "Health Insurance Plan" tab.
- Select the desired plan.
- Fill in all the required details.
- Click on the "Buy Now" button.
- Make payment.
- We will send the required policy documents to your registered email ID.
Buy from the official website of New India Assurance Health Insurance
- Visit the official of “New India Assurance Health Insurance”.
- Click on the “Quote Page” from the home page.
- Select “Health Insurance” from the “Our Products” section.
- The next page will show you the list of all the health insurance plans.
- Select your desired health plan from the list
- Then, click on the “Buy Online” button.
- Enter all the required information and click the “Calculate Premium” button.
- Make online payments and buy your desired health plan.
- You will get the policy documents at your registered email ID.
Why Buy New India Assurance Health Plans From RenewBuy?
RenewBuy brings you the best deals on New India Assurance Health Insurance plans across the market. The key reasons for you to consider us are as follows:
- IRDAI Certified
- Get Insured by a leading Insurer
- Discounted Premiums
- Compare Various Health Plans in Just a few Clicks
- Simple & Easy Buying Process
- 24x7 Claim Assistance
New India Assurance Health Insurance Renewal Process
The New India Assurance Company Limited offers various health insurance policies that provide comprehensive coverage for medical expenses. Suppose you have an existing New India Assurance health insurance policy and want health insurance renewal, in that case, you can follow the below steps:
Visit the official website of New India Assurance Company Limited.
Go to the Health Insurance section and select the Renewal option.
Enter your Policy Number and Expiry Date to proceed.
Verify your policy details and select the plan you want to renew.
Choose the premium amount and payment mode for renewal.
Pay through available options such as credit card, debit card, net banking, or UPI.
Once the payment is successful, your health insurance policy will be renewed.
You will receive a confirmation of the same on your registered email and mobile number.
New India Assurance Health Insurance Claim Process
New India Assurance Health Insurance has a quick and simple claim settlement process. Below mentioned is the claim process of New India Assurance in detail:
- In case of planned hospitalization, inform the TPA within 48 hours of hospitalization.
- Submit all the required documents within one week of discharge from the hospital.
- The TPA will verify the submitted documents.
- Once verified, the health insurance company will transfer the claim amount to your bank account.
Required Documents for Reimbursement Claim
Below-mentioned documents are the documents that you need to submit for reimbursement claim under New India Assurance Health Insurance plans:
- Original Bills and Receipt
- A discharge certificate from the hospital
- Cash Memos from the hospitals
- Cash memo from the Chemists
- Pathological test reports and receipt
- Surgeon's certificate
- Attending Consultant/ Doctor/ Specialist / Anesthetist bill and receipt and certificate regarding diagnosis.
New India Assurance Health Insurance Contact Details
The New India Assurance Company Limited is a leading insurance company in India that offers various health insurance plans. You can contact the company's customer care team using the following details:
- Customer Care Toll-Free Number: 1800-209-1415 / 1800-102-5678
- Customer Care Email: [email protected]
- Head Office Address: New India Assurance Building, 87, M.G. Road, Fort, Mumbai - 400001
You can also visit any of the company's branch offices located across India to get assistance regarding health insurance plans.
