One feels proud just by hearing the name of Tata Group in India. It is a brand that has made its significant mark in verticals like automobiles, steel, electronics, electronics and energy. But today we will talk about Tata AIG, and know whether it is the right option for you or not. Let us explain in detail what services Tata Hotel ji provides you and what is special in its plan.
TATA AIG Insurance: Should One Choose It?
If you trust Tata and are looking for a reliable insurance option, then TATA AIG can be a good option for you. Especially if you are looking for services like Bariatric Surgery, Dental OPD, Maternity Coverage, and Global Coverage, this could be a good fit for you. However, if you want to look at other options, you can also consider other players like CARE and Aditya Birla.
Three Major Variants Of TATA AIG
Tata AIG offers insurance plans in three main variants:
Medicare Premium (Coverage from Rs 5 lakh to Rs 3 crore)
Medicare (Coverage from Rs 3 lakh to Rs 20 lakh)
Medicare Protect (Coverage from Rs 2 lakh to Rs 5 lakh)
Now let’s look at the differences between these variants and their features.
1. Medicare Premium :
This is Tata’s most premium plan, which offers coverage ranging from Rs 5 lakh to Rs 3 crore.
There is no limit on room rent in this plan, and you can choose any room.
Pre and post hospitalization coverage is available for 60 to 90 days.
Under No Claim Bonus, this plan increases coverage by up to 50%.
2. Medicare :
This plan gives coverage from Rs 3 lakh to Rs 20 lakh.
Coverage of 60 to 90 days in Pre and Post Hospitalization.
There is no limit on room rent.
No Claim Bonus can increase coverage by up to 50%.
3. Medicare Protect :
Budget-friendly plan, which offers coverage ranging from Rs 2 lakh to Rs 5 lakh.
Pre and Post Hospitalization coverage is limited (30 to 60 days).
No claim bonus is available only up to 10%.
In case of room rent, you can choose only shared room.
Waiting periods of plans
When you choose an insurance plan, it is important to keep in mind the waiting periods. The waiting periods in these variants of Tata AIG are as follows:
Medicare Premium : 2 years waiting period.
Medicare : 3 years waiting period.
Medicare Protect : Waiting period of 4 years.
In particular, Medicare Protect has the longest waiting period for pre-existing diseases, which may make it less attractive to some people.
Key Features and Benefits
1. Bariatric Surgery and Dental OPD :
Tata AIG’s Medicare and Medicare Premium variants cover bariatric surgery (weight loss surgery) and dental OPD, which is not covered in other plans. If you feel the need for these services, this can be a huge benefit.
2. Maternity Benefits:
Medicare Premium plans also include maternity benefits. This coverage is up to Rs 50,000 for a boy and Rs 60,000 for a girl for a sum insured of Rs 50 lakh. If the sum insured is more than Rs 75 lakh, then this coverage is for Rs 1 lakh for boy and Rs 1.2 lakh for girl.
3. Global Treatment Coverage :
The Medicare Premium plan also gives you global treatment coverage for diseases diagnosed in India. This facility allows you to get treatment abroad, which can be beneficial in case of some costly diseases.
4. .Accidental Death Benefit :
Tata AIG’s Medicare Premium plan also offers Accidental Death Benefit. Under this benefit, a fixed amount is paid in case of accidental death or permanent disability.
What are the drawbacks?
Every insurance plan has some advantages and disadvantages, and Tata AIG is no different. Some of its drawbacks are as follows:
Waiting period: The waiting period may be a little longer in some plans, especially Medicare Protect plans.
Co-Payment : A copayment of 10% applies for the Medicare Protect plan, especially if you select a higher category room.
Room Rent Limit : The Medicare Protect plan only has the option for shared rooms, which is a limitation.
Conclusion: Is Tata AIG Right for You?
If you want to go with a trusted brand and are looking for a budget-friendly insurance option, then Tata AIG can be a good option for you. The Medicare plan is a balanced and affordable option, while the Medicare Premium plan is better for those who want additional benefits. If you’re on a budget, Medicare Protect may be an option, but it has some limitations to keep in mind.