New India Flexi Floater Group Mediclaim Policy
The New India Flexi Floater Group Mediclaim Policy is a comprehensive health insurance solution designed for small, medium and large organisations. It offers a flexible, costeffective coverage model that can be customised to suit the unique needs of a corporate workforce while providing a high level of medical benefits to employees and their families.
Key Features
- Floater Cover one sum insured is shared among all insured members, maximising utilisation of the premium.
- Flexible Sum Insured organisations can choose from a range of cover levels (e.g., INR2Lakhs to INR10Lakhs) based on the risk profile and budget.
- Family Coverage includes spouse, dependent children (up to 21years) and parents (optional).
- No Age Restriction members of any age can be covered, subject to underwriting.
- Wide Hospital Network cashless treatment at more than 8,000 network hospitals across India.
- PreExisting Disease Waiting Period 24 months (reduced to 12 months for senior citizens).
- Portability allows the insured to switch to another insurer after the waiting period.
- YearRound Renewability policy can be renewed irrespective of claim history.
Benefits for the Employer
| Benefit | Description |
|---|---|
| Cost Efficiency | Sharing a single sum insured among many lives reduces the premium per employee compared with individual policies. |
| Tax Savings | Premiums paid by the employer are taxdeductible under Section36(1)(v) of the Income Tax Act. |
| Employee Retention | Providing a robust health cover enhances employee satisfaction and loyalty. |
| Administrative Simplicity | One policy for the entire workforce, managed through a dedicated corporate portal. |
| Customisable Options | Addons such as daycare, AYUSH, critical illness, and personal accident can be attached. |
Coverage Details
The policy covers the following major components:
- Hospitalisation room rent, ICU charges, surgery fees, doctors fees, nursing, and consumables.
- Pre and PostHospitalisation expenses incurred up to 30 days before admission and 60 days after discharge.
- Day Care Procedures treatments that do not require overnight stay, such as chemotherapy, dialysis, and certain surgeries.
- Ambulance Charges up to INR2,000 per trip.
- Dental & Vision covered under optional riders.
- Alternative Therapies AYUSH (Ayurveda, Yoga, Unani, Siddha, Homeopathy) covered up to a sublimit.
Exclusions
Like any standard mediclaim policy, the following are excluded unless an optional rider is purchased:
- Cosmetic surgery and procedures undertaken for aesthetic reasons.
- Treatment for selfinflicted injuries, attempted suicide, or illegal activities.
- Preexisting diseases within the waiting period.
- Experimental or unproven treatments not recognised by the Medical Council of India.
- Dental treatment for routine cleaning (covered only under rider).
Claims Process
New India Insurance provides a streamlined, threestep claims procedure:
- Cashless Admission present the employee card at any network hospital; the insurer settles the bill directly.
- Document Submission for nonnetwork hospitals, submit the original bills, discharge summary and claim form within 30 days of discharge.
- Claim Settlement approved claims are settled within 710 working days.
Corporate policyholders also have access to a dedicated relationship manager who assists with claim tracking and grievance redressal.
How to Enrol
Enrolment is straightforward:
- Contact a New India Insurance corporate sales representative or authorized broker.
- Provide employee data (name, age, relationship, etc.) and select the desired sum insured and optional riders.
- Pay the first premium (annual or semiannual) and receive policy documents and employee health cards.
- Integrate the corporate portal to manage members, view claim status and generate reports.
Frequently Asked Questions
1. Can I increase the sum insured after policy issuance?
Yes. The sum insured can be increased during the renewal window or by applying for an endorsement, subject to underwriting and additional premium.
2. Are there any restrictions on the number of members?
There is no upper limit; the policy can cover from a few employees to several thousand, making it suitable for any organisation size.
3. What happens if the total claims exceed the floater amount?
Once the floater limit is exhausted, any further claims for that policy year will be denied unless an additional rider such as TopUp is in place.
4. Is maternity cover included?
Maternity expenses are not covered under the standard policy but can be added through a separate rider with an additional premium.
5. How are dependent parents covered?
Parents can be insured as optional dependents. Their coverage is subject to the same sum insured and waiting period rules as the primary insured.
Why Choose New India Flexi Floater?
New India Insurance has been a trusted name in the Indian insurance market for over a century. The Flexi Floater group mediclaim stands out because of its:
- Broad hospital network and rapid cashless payment.
- Scalable design that grows with the business.
- Transparent pricingno hidden fees.
- Robust digital tools for administration and reporting.
- Strong claim settlement record and customer support.
For more details, request a quote or speak directly with a New India Insurance corporate representative.
Email: corporate@newindiainsurance.com | Phone: +918001234567
NEW INDIA FLEXI FLOATER GROUP MEDICLAIM POLICY and Reference File Download Link
