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Unit 12: Health and Catastrophe Insurance

owing to illness or injury suffered by the insured, whether the hospitalisation is domiciliary Notes
or otherwise.
It covers the expenses incurred on the following:

Room boarding expenses by the hospital nursing home
Nursing expenses
Operation theatre expenses

Surgeon, anaesthetist, medical practitioner, consultants, specialist’s fees
Also for any cost of equipment like pacemaker, artificial limbs and charges paid for
anaesthesia, blood, oxygen, operation charge, surgical appliances, medicines and
drugs, diagnostic material and x-rays, dialysis and chemotherapy, radiotherapy,
and cost of organs etc.
2. Jan Arogya Bima Policy: It insures hospitalisation or domiciliary hospitalisation expenses
incurred on medical or surgical treatment for any illness or disease (contracted after 30
days from the commencement of the policy) or injury. Any person in the age group of
three months to 70 years can be insured under this. The risk insured include sudden
illnesses like heart attack, jaundice, pneumonia, appendicitis, paralytic attack, food
poisoning or accidents that require hospitalisation. This insurance policy was designed
for the lower income group of society and the common masses. The entire idea was to
protect them from high costs of hospitalisation.

3. Overseas Mediclaim Policy: Any person going abroad on holiday, business, study or
employment can avail this policy. Coverage under the medical expense section of this
insurance is intended for use by the Insured person in the event of a sudden and unexpected
sickness or accident arising when the Insured is outside the Republic of India.
4. Personal Accident Policy: The policy compensates an individual against death, loss of
limbs, loss of eyesight, permanent total disablement, permanent partial disablement and
temporary total disablement, solely and directly resulting from accidental injuries.
5. Critical Illness Policy: Critical Illness Policy is an exclusive benefit policy for individuals
in the age group 20-65 years covering coronary artery surgery, cancer, renal failure, stroke,
multiple sclerosis and major organ transplants like kidney, lung, pancreas or bone marrow.

6. New India Assurance Bhavishya Arogya: This caters to persons between 3 to 50 years.
This policy is essentially to take care of medical expenses needs of persons in their old age.
The policy provides for expenses in respect of hospitalisation and domiciliary
hospitalisation during the period commencing from the Policy Retirement Age selected
till survival. This is selected by the insured for the purpose of commencement of benefits
in the policy.

Task Search over the internet and find out the policies offered by international insurance
providers in case of health insurance.
Health insurance products from some private insurance companies:
1. ICICI Pru: ICICI Prudential Life Insurance is a joint venture between the ICICI Group and
Prudential plc. of the UK. ICICI started off its operations in 1955 with providing finance

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