Medical cover for the super rich: New India Assurance's Rs 1-cr policy

NIA's premium policy covers treatments that were hitherto not covered under other mediclaim policies

Are you rich? Need medical insurance? State-owned New India Assurance (NIA) might have the cover you want. NIA has launched a premium Rs 1 crore mediclaim policy for the super rich, reported the Times of India on Friday. 

NIA, which is the largest non-life insurer in the country and also the largest health insurance provider, is the first public sector company to provide such a cover. 

Here are some of the things you should know about the plan

1) The mediclaim policy would involve a sum insured of Rs 15 lakh, going up to Rs 1 crore. The premium for the Rs 1 crore policy, for an individual aged between 21–25, would be  Rs 45,521 plus taxes. 
 

2) According to the report, NIA's premium policy covers most treatments that were hitherto not covered under other mediclaim policies. Further, it provides concierge services. 

3) Before launching the new policy, the maximum cover provided by NIA was for a sum insured of Rs 8 lakh and top-up covers for up to Rs 22 lakh, the report added. 

4) What's so premium about this, other than being available for such a high amount insured? Beyond normal ailments, according to the report, it includes several elective medical procedures like infertility treatment and consulting dietitians. Further, claimants can claim for treatment for obesity and even maternal benefits, but only after a three-year cooling period. 

5) The report added that the policy would cover dental and psychiatric treatments, which are otherwise not covered under other policies.