Going abroad? Switch off your mediclaim policy and get discount on renewal

The Switch Off facility shall be available if all the insureds are traveling outside the country in case of Floater policy OR any one or more members traveling outside India in case of Multi-individual policy. (Bloomberg)

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ManipalCigna Health Insurance Company on Wednesday introduced a revolutionary ‘Switch On – Switch Off’ benefit in a new plan. The power to ‘Switch Off’ benefit comes with advantage and protect variants of ManipalCigna ProHealth Prime plan that allows policyholders to switch off their health insurance from 2nd year onwards, for up to 30 days while traveling abroad and get a discount on renewal premium.

Prasun Sikdar, Managing Director and CEO, ManipalCigna Health Insurance Company Limited said, “With medical costs increasing, customers are demanding more value out of their health insurance plans. Therefore, as a trusted expert in health insurance, we at ManipalCigna, are committed to bring affordable, predictable, and simple health insurance plans to market that can transform the way our customers receive healthcare experience.”

“Thus by putting innovation at the core and keeping our principles in mind, we have now introduced the revolutionary Switch Off benefit option under our ManipalCigna ProHealth Prime plan, in order to help people save the premium amount for maximum period of one month at a stretch in a policy year. The Switch Off benefit is great for people who travel abroad very often, as it could save them money on the premium by opting for this revolutionary benefit,” Sikdar added.

Giving an example, the company stated that let’s say that the policyholder wants to travel abroad, where the insurance is not applicable. In such a scenario, the person shouldn’t be required to pay the premium because they are not being covered. And now they don’t have to with ManipalCigna ProHealth Prime. They can simply switch off their cover and save money on the next premium.

Here are the features of the ‘Switch On – Switch Off’ benefit”

1. The Switch Off facility shall be available if all the insureds are traveling outside the country in case of Floater policy OR any one or more members traveling outside India in case of Multi-individual policy.

2. The premium discount shall be calculated on the pro-rate basis and shall be adjusted in the renewal premium falling on the immediate policy anniversary.

3. This facility cannot be availed in the last 90 days of the policy year.

4. The insured will have to intimate the switch off date and switch on a date and almost no documentation or can provide document at the time of intimating the same (WhatsApp/email based).

5. The discount will be calculated by the system automatically and without any hassle.

6. It covers Non-Medical Expenses and provides 100% of the claim amount without any deductions towards the non-medical items.

7. It gives Cashless OPD cover for up to 50000 per policy year.

8. It gives Unlimited Restoration even for related illnesses so there is no shortage of sum insured for any type of claim.

9. It gives a Guaranteed Cumulative Bonus of 25% each year up to a max 200% of the Base Sum Insured.

10. It gives a Premium Waiver of one year on renewal policy premium due to Accidental Death or if diagnosed with any of the listed Critical Illnesses.

11. It extends the cover to include Infertility Treatment.

12. It gives Air Ambulance additional cover equal to Sum Insured with an upper capping of 10 and many more.

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