Health Insurance in Madurai

• Premiums as low as Rs12/day for coverage of Rs.4 Lakhs*
• 10,000+ hospitals for cashless treatment
• Claim up to Rs. 55,000 deduction under section 80D**

Many studies have revealed that Indians frequent hospitals for a wide range of health conditions caused by various factors. The trend has been noticed not only in urban India but rural India as well. A considerable amount of money is spent by a person to get himself/herself or his/her family members treated. Maintaining good health is absolutely essential and so is getting oneself covered by a health insurance policy that takes care of the financial needs of the treatments and surgeries undergone.

Healthcare in Madurai

The healthcare industry in Madurai is well developed and provides services that are affordable by all sections of the society. Many public hospitals, private hospitals, specialised healthcare centres, nursing homes, etc., can be found in the city. The hospitals have optimum equipment and support facilities. Many specialised surgeries and advanced treatments can be carried out with ease by the medical professionals present in the city. Madurai is recognised for medical tourism. Many foreigners visit the healthcare facilities to avail the best treatments.

Need for health insurance in Madurai

India is one of the fastest growing countries in the world. And, as the country grows, the cost of living also seems to be on the rise. Among all the services that have gotten expensive, healthcare ranks right on top. In fact, about 62% of healthcare expenses are borne by individuals without the aid of any health insurance policy. At a time when not only healthcare costs, but also incidents of diseases are rising, owning a health insurance policy is absolutely crucial from both, a health-related and a financial point of view.

Health insurance companies in Madurai

Many insurance companies that provide health insurance plans are prevalent in Madurai. Here are the details of a few of the insurance companies:

• Reliance General Insurance

Reliance General Insurance is a prominent insurance company in the country that provides insurance products such as home insurance, travel insurance, marine insurance, health insurance, etc., to retail customers, corporates, as well as SMEs. The insurer has 139 offices and over 26,587 intermediaries pan-India, making it a largely accessible insurance company. Further, the company has a list of network hospitals like V.N.Neuro Care and Brain Centre, Arthur Asirvatham Hospital, BGM Hospital, Jawahar Hospital, S.P. Hospital, Shenbagam Hospital Pvt. Ltd., etc., in Madurai.

• ICICI Lombard

ICICI Lombard GIC Ltd. is a popular private insurance company that issued more than 1.7 crore policies in FY 2016-17. The products offered include a variety of insurance product types such as motor insurance, home insurance, travel insurance, NRI insurance, business insurance, etc. The insurer also claims to have settled over 21 lakh claims in FY 2016-17. The company also has a wide network of hospitals and a few such hospitals in Madurai are Anbu Hospital, Madurai Institute of Orthopaedics & Traumatology, Preethi Hospital, Quality Care Hospital, Vikram Multispeciality Hospital, and so on.

• Bajaj Allianz

Bajaj Allianz General Insurance Co. Ltd. received the license to conduct operations in the insurance sector in the year 2001. It claims to be one of the most profitable insurance companies in the country. The products offered by the insurer include motor insurance, home insurance, cyber safe insurance, travel insurance, commercial insurance, and health insurance. Customers can choose which health insurance policy they would like to avail based on categories such as individual and family. The company has partnered with a few of the hospitals in the country, some of which, in Madurai, are Ashwini Hospital, Aravind Eye Hospital, Jaisee Hospital Pvt. Ltd., Apollo Speciality Hospitals, Asirvatham Speciality Hospital, etc.

• Cholamandalam MS

Cholamandalam MS General Insurance Company Ltd. is a well-recognised health insurance company that has 109 branches scattered throughout the country. The products offered by the company include car insurance, home insurance, personal accident, travel insurance, and health insurance. The company offers several health insurance plans with varying features. The insurer has tie-ups with certain hospitals across the country, some such hospitals in Madurai are Aristo Speciality Hospital, Devadoss Multispeciality Hospital, Guru Hospital, Raghavendhar Hospital, Siva Polyclinic, Vadamalayan Hospitals, etc.

• Royal Sundaram

Royal Sundaram General Insurance Co. Ltd., a general insurance company that was initially a joint venture between Royal & Sun Alliance Insurance plc and Sundaram Finance, is now solely owned by Sundaram Finance along with certain Indian shareholders. The insurance categories offered by the company are motor insurance, home insurance, individual personal accident insurance, business insurance, travel insurance, and health insurance. In the health insurance section, many types of health plans are offered with varying features that benefit the insured individuals. Of the many hospitals that belong to the company’s network, some of the hospitals in Madurai are A.R.Hospital Pvt. Ltd., Crescent Hospitals, Janet Hospitals, Saravana Hospitals, Aristo Speciality Hospital, etc.

Most insurance companies broadly offer two claim settlement options. The most common option is the reimbursement method where the policyholder is required to submit relevant documents, bills, reports, and prescriptions to claim the expenses incurred for the treatment. The second option is the cashless hospitalisation feature where the insurance company directly pays the hospital bill if the insured person is hospitalised in a network hospital. Insured individuals or their family members can choose the type of settlement they want to opt for based on convenience and whether the insured person is hospitalised in a network hospital or not.