Health insurance worth Rs 15 lakh for just Rs 899: Know details

Health insurance offers financial security against medical expenses in the events of hospitalisation, emergency medical intervention, surgeries or other expenses. An adult, who is above 18 years, generally needs to pay a premium of Rs 5,000 to purchase a health insurance policy. This amount would further go up based on specific rules as well as certain health conditions. Meanwhile, India Post Payments Bank has introduced a new insurance scheme where the policy holder could purchase health insurance policy worth Rs 15 lakh for just Rs 899. This could be purchased as an individual policy or for the family.

Low rates
The individual policy which could be purchased for Rs 899 will cover up to Rs 15 lakh. The policy holder could enjoy further discounts if he purchases the policy for his/her family. It would be Rs 1399 for two adults, Rs 1799 for two adults and their child and Rs 2199 for two adults and their two children. The India Post Payments Bank has launched this insurance top up plan in association with Niva Bupa Insurance. Under this scheme, the policy holder would be able to enjoy health insurance coverage of up to Rs 15 lakh.

Policy coverage
Initially, the policy holder cannot claim policy of up to Rs 2 lakh during hospitalisation. However, they could claim up to Rs 5 lakh as cashless transactions, in the same year, at hospitals that are associated with this scheme. Those who are currently policy holders of any other insurance projects too can be part of this scheme. While some health conditions are covered under this policy, people who suffer from certain health problems cannot be part of the policy. The health insurance policy that covers almost all the health conditions or diseases that the policy holder suffers within 30 days of purchasing the policy, however, do not cover some rare diseases up to the first two years.

This health insurance policy offered by the India Post Payments Bank, the banking partner of Indian Postal department could be purchased only by those who already have account in the bank. Non account holders can instantly open an account by paying Rs 200. Besides, the policy could be purchased only by adults between 18 and 60 years old. Babies can be included in the policy 91 days after their birth. The policy could be purchased from the postman. You could get the details of the policy from the nearby post office.