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New India Assurance

New India Assurance

New India Floater Mediclaim: Doesn't cover daycare treatments, imposes room restrictions, and has a 4-year waiting period for pre-existing diseases like diabetes. Not a great option overall.

What We Like

This section highlights the strengths and benefits of Floater Mediclaim policy by New India Assurance. It covers what the policy does exceptionally well, including aspects that provide significant value and peace of mind to the policyholder. Here, you will find the major advantages and positive features that make this policy stand out.

You’ll never have to split the bill

Full Coverage (No Co-Payment): The insurer will bear the entire cost of treatment (up to the sum insured). You won’t have to pay a single penny, meani...

You always have full cover irrespective of the disease

No Disease-Wise Sub-Limits: If your insurer hasn't explicitly excluded an illness, you can claim the full sum insured for any disease, as this policy ...

Day Care treatments covered

Minor Procedure Full Coverage: If you're hospitalized for less than 24 hours for a minor procedure, the insurer will cover the costs. This includes tr...

Pre & Post hospitalization expenses covered

Diagnostic Tests Coverage (30 days/60 days): No worries if the doctor has to run a series of diagnostic tests before or after hospitalizing you. The i...

What Is Okay

This section outlines the satisfactory but not exceptional aspects of Floater Mediclaim policy by New India Assurance. It includes features and benefits that are adequate and meet standard expectations. While these elements may not be extraordinary, they still contribute to the overall usefulness and reliability of the policy.

Special Bonus for being healthy and not claiming insurance

No Domiciliary Cover: The insurer will not cover the costs if you are forced to hospitalize at home due to a medical condition. This is known as a pol...

Some Cover for Alternative Medicine

Sum Insured Increase (25% Annually, Cap at 50%, Claim Reduction): Your sum insured increases by 25% each year as long as you make no claims during thi...

What We Don't Like

This section addresses the limitations and drawbacks of Floater Mediclaim policy by New India Assurance. It highlights areas where the policy may fall short or aspects that could be improved. Understanding these points is crucial for making an informed decision and managing expectations regarding the policy’s coverage and service.

Restrictions on the rooms you can pick and much more

Room Rent Limit (1% for General, 2% for ICU): Your insurer won’t let you stay in a room whose rent exceeds 1% of the sum insured. For ICU, the limit i...

Long waiting period for pre-existing diseases

Room Rent Limit (1% for General, 2% for ICU): Your insurer won’t let you stay in a room whose rent exceeds 1% of the sum insured. For ICU, the limit i...

No coverage if you are forced to hospitalize at home

Coverage After 4 Years: If you're dealing with diabetes, cardiovascular problems, or similar illnesses, the insurer covers all costs after a 4-year wa...

No Restoration Benefit

Alternative Treatment Coverage (25%): Thinking of getting Ayurvedic, Homeopathic, or other alternative treatments to cure an illness? Your insurer wil...

Your insurer doesn’t provide free health check-ups

No Full Cover Restoration: This policy does not restore full cover after a partial claim within the same year, unlike some policies that offer this be...

Long waiting period for pre-existing diseases

Room Rent Limit (1% for General, 2% for ICU): Your insurer won’t let you stay in a room whose rent exceeds 1% of the sum insured. For ICU, the limit i...

No coverage if you are forced to hospitalize at home

Coverage After 4 Years: If you're dealing with diabetes, cardiovascular problems, or similar illnesses, the insurer covers all costs after a 4-year wa...

No Restoration Benefit

Alternative Treatment Coverage (25%): Thinking of getting Ayurvedic, Homeopathic, or other alternative treatments to cure an illness? Your insurer wil...

Your insurer doesn’t provide free health check-ups

No Full Cover Restoration: This policy does not restore full cover after a partial claim within the same year, unlike some policies that offer this be...

No coverage if you are forced to hospitalize at home

Coverage After 4 Years: If you're dealing with diabetes, cardiovascular problems, or similar illnesses, the insurer covers all costs after a 4-year wa...

No Restoration Benefit

Alternative Treatment Coverage (25%): Thinking of getting Ayurvedic, Homeopathic, or other alternative treatments to cure an illness? Your insurer wil...

Your insurer doesn’t provide free health check-ups

No Full Cover Restoration: This policy does not restore full cover after a partial claim within the same year, unlike some policies that offer this be...

No Restoration Benefit

Alternative Treatment Coverage (25%): Thinking of getting Ayurvedic, Homeopathic, or other alternative treatments to cure an illness? Your insurer wil...

Your insurer doesn’t provide free health check-ups

No Full Cover Restoration: This policy does not restore full cover after a partial claim within the same year, unlike some policies that offer this be...

Your insurer doesn’t provide free health check-ups

No Full Cover Restoration: This policy does not restore full cover after a partial claim within the same year, unlike some policies that offer this be...

Frequently Asked Questions

Medfin offers the latest surgical procedures to ensure that you
recover as fast as possible in the least painful way possible.

The claim settlement ratio for Floater Mediclaim in 2024 is 99.41%. This high ratio demonstrates the insurer's commitment to efficiently processing claims, offering peace of mind to policyholders.

The Floater Mediclaim Plan is available for families, covering all members including children aged 3 months and above.

Yes, pre-existing conditions are covered after a waiting period of 36 months.

The plan covers hospitalization expenses up to the sum insured, including room rent, ICU charges, and doctor’s fees.

Yes, this plan provides a No Claim Bonus, where the insured amount is increased by 10% annually for each claim-free year, up to a maximum of 50%.

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