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Insurance Laws and Practices

Notes For any post hospitalization treatment the original bills/cash memo can be sent to
the TPA after completing the treatment for the reimbursement.

!

Caution It is necessary to ensure that the Identity-Card is easily available with the
policyholder.

Self Assessment

Fill in the blanks:

9. The expected expenses to be incurred should be sent to ………………………… through the
agreed list of network hospital.
10. A card issued by the …………………………….. should be shown to the hospital.

12.4 Types of Health Insurance Policy

You must remember that there are various types of health insurance policy. Following are the
various types of health insurance policies.
The escalating cost of medical treatment today is beyond the reach of a common man. In case of
a medical emergency, cost of hospital room rent, the doctor’s fees, medicines and related health
services can work out to be a huge sum. In such times, health insurance provides the much
needed financial relief.
An investment in health insurance scheme would be a judicious decision. The health insurance
scheme could either be a personal scheme or a group scheme sponsored by an employer. Some
of the existing health insurance schemes currently available are individual, family, group
insurance schemes, senior citizens insurance schemes, long-term health care and insurance cover
for specific diseases. There are two major insurance companies in India namely:
The Life Insurance Company of India (LIC)
The General Insurance Company of India (GIC)
The Life Insurance Corporation (LIC) offers:

Jeevan Asha: The Jeevan Asha policy is the other healthcare product offered by LIC. It is an open-
ended scheme covering many surgical procedures.
Asha Deep Plan: It provides cover for cancer, paralytic stroke resulting in permanent disability,
renal failure and coronary artery disease where by-pass surgery has been done. It caters to
people between 18–65 years.

Did u know? While LIC deals with insurance for life coverage only, the GIC deals with the
other aspects of insurance, including health.

Following are the main health policies offered by the Indian Insurance Companies. These policies
are regulated by the General Insurance Corporation and are marketed by the four big insurance
companies: United India Insurance Co Ltd., New India Assurance Co Ltd., Oriental Insurance Co
Ltd. and National Insurance Co Ltd.
The insurance policies offered by GIC are:

1. Mediclaim: Insures against any hospitalisation expenses that may arise in future. This
policy is designed to prevent the insured from paying for any hospitalisation expenses

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