Qian - Insurance Blog

The New India Assurance Company

Dec 5, 2023

Qian

Leave a comment

Insurance Companies

The New India Assurance Company
Contents

About New India Assurance Company Ltd.

The New India Assurance Co. Ltd. is a leading Government owned General Insurance Company in India with a presence in 25 Countries. The New India Assurance Company was founded by Sir Dorabji Tata in 1919 and has its headquarters at MG Road, Fort, Mumbai.

The Company has been a market leader in India’ General Insurance Business for over 50 years with a market share of 13.94%, which is the highest in the Indian Insurance Industry. New India Assurance Company has a huge network of 1925 Offices and over 13,000 employees.

History of New India Assurance Company Ltd.

New India Assurance was founded in 1919 by Sir Dorabji Tata. The Company was the first to set up an Aviation Insurance Department in 1946. New India Assurance Company Limited (NIACL) was nationalised on 1st Jan 1973 and it became a subsidiary of General Insurance Corporation of India (GIC), which was formed under the General Insurance Business (Nationalisation) Act, 1972. GIC, then transferred its entire shareholding in NIACL to the Government of India after the General Insurance Business (Nationalisation) Amendment Act, 2002.

New India Assurance Company achieved Rs10,000 Crores of Premium in FY12 and Rs20,000 Crores of Premium in FY17. The Company was listed on the Stock Exchanges in November 2017

Today, New India Assurance offers various general insurance products for individuals, families and Corporates including Car Insurance, Bike Insurance, Health Insurance, Travel Insurance, Group Health Insurance, Commercial General Liability Insurance, Trade Credit Insurance, Workmen’s Compensation Insurance, Fire Insurance Policy, Directors and Officers Insurance Policy and other specialty insurance products

New India Assurance Company: An Overview

Features Value
Year Founded 1919
Founder Sir Dorabji Tata
Headquarters MG Road, Fort, Mumbai, India
Offices in India 1900+
Authorized Capital Rs1000 Crores (USD 122 Million)
Paid Up Capital Rs824 Crore (USD 100 Million)
Awards Won (2022 – 2023) Most Preferred Workplace for FY22-23 from BFSI General Insurance Company of the Year FY22-23 from BFSI ETascent Stars of the Industry award for Excellence & Leadership in BFSI for FY 2022-23
Market Position in India Leader in Non-Life business for 50+ years

New India Assurance Company: An Overview

Salient Features of New India Assurance Insurance Policies

  1. Wide range of general Insurance Policies including motor, health, personal accident, home, and commercial insurance products
  2. Multiple options to purchase policies – online, offline through insurance agents etc
  3. Dedicated claim processing for faster settlement
  4. Add-On Covers for enhanced protection e.g. zero depreciation, consumables, engine protector etc. in motor policy
  5. Special customized policies for MSMEs, Corporates, Small Business and Rural Segment
  6. In-house health administration team to provide better support

Insurance Policies Offered by New India Assurance Company

New India Assurance Company offers around 100 types of Insurance Policies. They list major types of insurance products on their website like Liability Insurance, Group Health Insurance, Cyber Insurance Policy, Motor Insurance, Health Insurance, Marine Insurance, Workmen’s Compensation Insurance, Engineering Insurance, Aviation Insurance etc..

We will now take a look at some of the major Insurance Policies offered by New India Assurance Company.

  • Health insurance
  • Car Insurance
  • Group Health Insurance
  • Group Personal Accident Insurance
  • Cyber Insurance
  • Directors and Officers Liability Insurance
  • Commercial General Liability Insurance
  • Workmen’s Compensation Insurance
  • Fire Insurance
  • Marine Insurance

Employee Benefit Insurance offered by New India Assurance Company

New India Group Health Insurance Policy

New India Flexi Group Mediclaim Policy is the Group Health Insurance Plan of New India Assurance Company. New India Group Mediclaim Policy provides comprehensive coverage for hospitalization expenses of employees and their families under a single corporate policy. The Policy provides benefits like coverage for pre-existing diseases, coverage for pre and post-hospitalisation expenses, cashless claims settlement, lower premiums compared to individual plans, and a smooth claims process.

Companies can customize plans and enhance coverage with add-ons like maternity and OPD Benefits. The New India Flexi Group Health Insurance Policy is a wise choice for employers as the premiums paid towards the Group Mediclaim Policy are a tax-deductible expense.

Get a FREE Quote for New India’s Group Health Insurance with Qian.

New India Group Personal Accident Insurance Policy

New India Group Personal Accident Insurance Policy provides protection to employees against Accidental Death, Permanent Total Disability, Permanent Partial Disability and Temporary Total Disability etc. Employers usually purchase a Group Personal Accident Insurance Policy for Employees as part of an Employee Benefits Package.

Key Features of New India Assurance Group Personal Accident Insurance Policy
  • Covers Accidental Death, Permanent Total/Partial Disability, Temporary Total Disability of employees.
  • Pays lumpsum amount depending on Accidental Death or Type of Disability as per policy Terms and Conditions.
  • Additional Covers like transportation of mortal remains, medical expenses cover are also available.
  • Discount on premium for coverage of larger employee group size.

New India Assurance Workmen’s Compensation Insurance Policy

New India Assurance Workmen’s Compensation Insurance Policy provides compensation to employees in case of injuries, disability or death that occur due to workplace accidents or occupational hazards.

Key Features of New India Assurance’s Workmen Compensation Insurance Policy
  • The Policy covers contractual employees along with regular employees.
  • New India Assurance covers chemical industries unlike some other insurers who apply exclusions.
  • New India Workmen’s Compensation Insurance Policy offers medical extension cover and other extension as add-on covers

Fire Insurance Policies offered by New India Assurance Company

New India Assurance offers the following Fire Insurance Policies

New India Assurance Standard Fire and Special Perils Insurance Policy

The New India Standard Fire and Special Perils Insurance Policy (SFSP Policy) offers Fire Insurance Coverage to moveable and immoveable properties including plant & machinery, stocks, buildings etc. The Fire Insurance Policy provides coverage against a range of perils such as Fire, Implosion, Explosion, Landslide, Impact Damage etc.

New India Assurance SFSP Policy can be used to insure assets when the Total Sum Insured exceeds Rs50 Crores.

Key Features of New India Assurance Standard Fire and Special Perils Insurance Policy
  1. Different types of Fire Insurance Policies for Stocks (Declaration and Floater Policy) are also available.
  2. Discount in Premium for Good Fire Fighting Equipment installed in the insured premises
  3. Add-On Covers available at extra premium to extend coverage
  4. Earthquake and STFI add-on covers also available to provide coverage against natural catastrophies

New India Assurance Bharat Sookshma Udyam Suraksha Policy

The New India Bharat Sookshma Udyam Suraksha Policy is a type of Fire Insurance Policy which has to be mandatorily issued to an enterprise whose total value of Insurable Assets does not exceed Rs5 Crores.

Key Features of New India Bharat Sookshma Udyam Suraksha Policy
  1. The Policy provides coverage against various perils such as Fire, Explosion or Implosion, Lightning, Earthquake, Storms, Floods etc.
  2. New India Bharat Sookshma Udyam Suraksha Policy has an option where the Insured can opt for a Declaration Policy to take care of frequent fluctuation in stock values.
  3. The Policy provides coverage for Plant and Machinery on Reinstatement Value Basis.
  4. The Policy also offers Waiver of Underinsurance as an Inbuilt feature.

New India Assurance Bharat Laghu Udyam Suraksha Policy

The New India Bharat Laghu Udyam Suraksha Policy is a type of Fire Insurance Policy which has to be mandatorily issued to an enterprise whose total value of Insurable Assets at a location exceeds Rs5 Crores but does not exceed Rs50 Crores.

Key Features of New India Bharat Laghu Udyam Suraksha Policy
  1. The Policy provides coverage against various perils such as Fire, Explosion or Implosion, Lightning, Earthquake, Storms, Floods etc.
  2. New India Bharat Laghu Udyam Suraksha Policy also offers Waiver of Underinsurance as an Inbuilt feature.
  3. The Policy also provides Inbuilt Add-On Covers such as Additions, Alterations or Extensions, Temporary Removal of Stocks Cover, Costs for Debris Removal etc.
  4. The Policy provides coverage for Plant and Machinery on Reinstatement Value Basis.

New India Bharat Griha Raksha Policy

The New India Bharat Griha Raksha Policy is a standard Fire Insurance Policy for a Home Building and Home Contents. This Policy is applicable only for residential structures. The Policy provides coverage against a range of Perils like Fire, Explosion, Implosion, Lightning, Earthquake, Volcanic Eruption, Storms, Tempest, Flooding, Inundation etc.

Key Features of New India Bharat Griha Raksha Policy
  1. Multi Year Policy Duration from 1 Year to 10 Years
  2. The Policy has add-on covers like Loss of Rent, Additional Rent for Alternative Accommodation
  3. A Special Feature of New India Bharat Griha Raksha Policy is that Underinsurance does not apply to this Policy.
  4. The Policy also provides cover for 5% of Claim Amount for reasonable fees of the Architect, Surveyor and Consulting Engineer, and upto 2% of the Claim Amount for Costs for Debris Removal

Liability Insurance Policies offered by New India Assurance Company

New India Assurance Cyber Insurance Policy

New India Cyber Insurance Policy helps the Insured Company to pay for any financial losses that may be incurred in the event of a Cyberattack or Data Breach. The Cyber Insurance Policy provides comprehensive coverage for Legal Costs, Data Restoration Costs, Credit Monitoring Services, Forensic Costs and Notification Expenses.

Key Features of New India Assurance Cyber Insurance Policy
  1. Covers financial loss due to Cyberattacks, Data Breaches etc.
  2. Provides coverage against hacking incidents, malware infections, ransomware attacks etc.
  3. Provides expenses for Forensic Investigation, Legal Consultations, Crisis Management etc.
  4. Provides Business Interruption Coverage due to Cyberattacks

New India Assurance Directors and Officers Liability Insurance Policy

New India Assurance Directors and Officers Liability Insurance Policy provides coverage to directors and officers of a Company against claims of Wrongful Acts Committed in their managerial capacity.

Directors and officers of a company can be sued for reasons like breach of fiduciary duty, accounting fraud, insider trading and misuse of company funds. New India’s D&O Liability Insurance Policy provides protection for personal liability of directors and officers for alleged wrongful acts in their capacity as officials of the company.

Key Features of New India Assurance D&O Liability Insurance Policy
  1. The Policy provides coverage for Legal Costs and Compensatory Damages that arise because of Claims of Wrongful Acts.
  2. New India Assurance D&O Policy provides cover to Retired Directors and Officers.
  3. Policy provides cover for EPLI Claims

New India Assurance Commercial General Liability Insurance Policy

New India Assurance Commercial General Liability Insurance Policy provides cover against lawsuits alleging bodily injury, property damage or personal injury and advertising injury caused to third party in business premises or as a result of the Insured’s Products.

A CGL Insurance Policy is an essential Insurance Policy that every business should purchase to protect itself from the high costs of third-party claims in today’s litigious environment.

Key Features of New India Assurance’s Commercial General Liability Insurance Policy
  1. “Duty to defend” Clause – Insurer is obligated to defend insured even against frivolous lawsuits.
  2. Broad definition of “Bodily injury” – Includes mental illness, mental anguish, and death.
  3. Coverage for “Personal and Advertising Injury” – Covers libel, slander, defamation, copyright infringement etc.

Other Liability Insurance Products offered by New India Assurance Company

New India Assurance Company offers the following Liability Insurance Products as well:

  1. Public Liability Insurance Policy
  2. Product Liability Insurance Policy
  3. Commercial Crime Insurance Policy
  4. Clinical Trials Liability Insurance Policy
  5. Public Offering of Securities Insurance Policy
  6. Employment Practices Liability Insurance Policy

Marine Insurance Policies offered by New India Assurance Company

New India Specific Voyage Marine Insurance Policy

The New India Assurance Specific Voyage Marine Insurance Policy insures a specific and a single transit for any damage to cargo whilst in transit. The cargo owner has to avail transit insurance for each and every transit. This Policy is applicable for small business owners who do not have very frequent transits.

New India Assurance Marine Open Insurance Policy

New India Assurance Marine Open Policy is issued to companies which have multiple and very frequent cargo dispatches. A Marine Open Policy covers all the shipments by the Insured on an annual basis. The Marine Open Policy bypasses the need to insure each and every single transit separately and allows the Insured to make a declaration of all the transits taking place on a periodic (usually monthly) basis.

New India Assurance Sales Turnover Marine Insurance Policy

New India Assurance Sales Turnover Marine Insurance Policy, also known as a STOP Insurance Policy covers all the transits, that is Sales, Purchases, Inter-Movements, Exports, Imports etc. under a Single Policy.

The Insured just needs to declare the Sales Turnover of the Company on a periodic basis rather than making a declaration of all transits taking place as done in a Marine Open Policy. Since the premium is charged only on Sales Turnover, it results in substantial savings of premium.

New India Assurance Duty Insurance Policy

The Duty Insurance Policy by New India Insurance Company is granted for goods being imported to India. The Duty Insurance Policy pays for the loss of Custom Duty for goods damaged in Transit but where the Custom Duty is not refunded.

Engineering Insurance Policies offered by New India Assurance Company

New India Assurance Contractors All Risk Insurance Policy (CAR Insurance)

New India Assurance Contractors All Risk Insurance Policy provides compensation for damages in the event of accident to civil projects under construction. The Contractors All Risk Insurance Policy provides protection to the Contractor for any damage to the project under construction.

Key Features of New India Assurance Contractors All Risk Insurance Policy

The New India Assurance Contractors All Risk (CAR) Insurance Policy comprises 2 Sections:

  1. Material Damage Section: The Material Damage Section of the CAR Insurance Policy covers Physical Damage to the property under construction. The Section provides coverage against various perils such as Fire, Lightning, Theft, Burglary etc.
  2. Third Party Liability Section: The Third-Party Liability Section of the New India Assurance Contractors All Risk Insurance Policy provides coverage for the legal liability of the contractor for bodily injury or property damage to third parties.

New India Assurance Erection All Risk Insurance Policy (EAR Insurance Policy)

New India Assurance Erection All Risk (EAR) Insurance Policy provides compensation for damages in the event of accident to factory and plant projects under construction. The ****New India Assurance Erection All Risk Insurance Policy provides coverage for all sorts of risk exposures in the plant erection process, especially in connection with the testing and commissioning stages of plant erection.

Key Features of New India Assurance Erection All Risk Insurance Policy

The New India Assurance Erection All Risk (CAR) Insurance Policy comprises 2 Sections:

  1. Material Damage Section: The Material Damage Section of the New India EAR Insurance Policy covers Material Damage to the plant under construction. The Section provides coverage against various perils such as Fire, Lightning, Theft, Burglary, Acts of Gods, Riots, Strikes, Terrorism etc.
  2. Third Party Liability Section: The Third-Party Liability Section of the New India Assurance Erection All Risk Insurance Policy provides coverage for the legal liability of the contractor for bodily injury or property damage to third parties.

Other Project Insurance Policies offered by New India Assurance Company

  1. Machinery Breakdown Insurance Policy
  2. Contractors Plant and Machinery Insurance Policy
  3. Boiler and Pressure Plant Policy
  4. Civil Engineering Completed Risks Insurance

New India Assurance Trade Credit Insurance Policy

New India Assurance offers a Trade Credit Insurance Policy in partnership with Atradius India. The New India Trade Credit Insurance Policy provides compensation to the seller in case the buyer fails to pay for the goods or services he has received. The Credit Insurance Policy helps the seller to expand business by making sales to overseas territories or to newer customers by extending credit without worrying about bad debt.

Motor Insurance Products offered by New India Assurance Company

New India Assurance Commercial Vehicle Insurance Policy

The New India Assurance Commercial Vehicle Insurance Policy provides insurance coverage to all sorts of commercial vehicles in India such as Trucks, Taxis, Trailers etc.  New India Assurance offers a comprehensive Commercial Vehicle Insurance Policy which covers damage to vehicle itself as well as liability arising due to third party bodily injury and property damage.

Key Features of New India Assurance Commercial Vehicle Insurance Policy
  1. Add-On Covers of Zero Depreciation available
  2. No Claim Bonus of upto 50%
  3. Comprehensive Package Policy covering Own Damage as well as Third Party Liability
  4. Attractive Discounts for Commercial Vehicle Fleet Owners

New India Assurance Car Insurance Policy

New India Assurance offers a comprehensive Car Insurance Policy to protect the car from risks like accidents, theft, fire, natural calamities etc. in addition to the mandatory third-party liability.

The New India Car Insurance Policy offers comprehensive coverage against own damage as well as Third Party Liability.

Key Features of New India Assurance Car Insurance Policy
  1. Attractive Add-On Covers of Zero Depreciation, Return to Invoice, Engine Protect are available to enhance insurance coverage
  2. No Claim Bonus of upto 50%
  3. Online Renewal
  4. Attractive Discounts on Own Damage Premium

New India Assurance Two-Wheeler Insurance Policy

New India Assurance offers a comprehensive Two-Wheeler Insurance Policy for Scooters and Motorcycles to protect them from various risks like accidents, fire, etc.

The New India Bike Insurance Policy offers comprehensive coverage against Own Damage as well as Third Party Liability.

Key Features of New India Assurance Two-Wheeler Insurance Policy
  1. No Claim Bonus of upto 50%
  2. Online Renewal
  3. Policy also pays for Towing Charges from Place of Accident to the Workshop upto Rs300/-

Health Insurance Products offered by New India Assurance Company

The New India Assurance Company offers various health insurance plans depending on the requirements of the Insured. Some of the health insurance plans offered by the New India Assurance Company are listed below:

New India Assurance Yuva Bharat Policy

New India Assurance Yuva Bharat Policy is an Insurance Policy designed for young people. People in the age bracket of 18 to 45 years can take this policy. The Policy provides coverage for hospitalisation expenses due to accident or illness

Key Features of New India Yuva Bharat Policy
  1. Various Sum Insured Options available up to Rs50 Lakhs
  2. Floater Option available to cover Spouse and Dependent Children
  3. People can opt for Single AC Room for Sum Insured of upto Rs15 lakhs and Deluxe AC Rooms for Sum Insured between Rs15 lakhs and Rs50 Lakhs.
  4. Pre and Post-Hospitalisation Expenses Coverage for 60 days and 90 Days
  5. No Pre-Policy Medical Checkup
  6. Waiting Period of 24 months for Pre-Existing Diseases
  7. Waiting Period of 12 and 24 months for Specific Diseases
  8. Lifelong Renewal

New India Assurance Arogya Sanjeevani Policy

New India Arogya Sanjeevani Policy is a standard health insurance policy which provides coverage for hospitalisation expenses incurred by the Insured.

Key Features of New India Arogya Sanjeevani Policy
  1. Various Sum Insured Options available Rs50,000 to Rs10 Lakhs
  2. Floater Option available to cover Spouse, Dependent Children, Dependent Parents and Parents-in-law
  3. No Pre-Policy Medical Checkup
  4. Room Rent Limit of 2% of Sum Insured subject to a maximum of Rs5000 for Normal Rooms and 5% of Sum Insured subject to a maximum of Rs10000 for ICU Rooms
  5. Pre and Post-Hospitalisation Expenses Coverage for 30 days and 60 Days
  6. Cumulative Bonus of 5% per year for every claim free year, provided that the policy is renewed without a break every year, subject to a maximum of 50% of Sum Insured.
  7. Waiting Period of 48 months for Pre-Existing Diseases
  8. Waiting Period of 24 and 48 months for Specific Diseases
  9. Co-Payment of 5% on each and every claim
  10. Lifelong Renewal

New India Assurance Asha Kiran Policy

New India Asha Kiran Policy is a health insurance policy designed specifically for parents of girl children. 2 Dependent girls can be covered under the Policy.

Key Features of New India Asha Kiran Policy
  1. Sum Insured Options of Rs 2lakhs, Rs3 lakhs Rs5 lakhs and Rs8 Lakhs available
  2. 50% discount on premium for girl children
  3. Room Rent Limit of 1% of Sum Insured for Normal Rooms and 2% of Sum Insured
  4. Pre and Post-Hospitalisation Expenses Coverage for 30 days and 60 Days
  5. Waiting Period of 48 months for Pre-Existing Diseases
  6. Waiting Period of 24 and 48 months for Specific Diseases
  7. Floater Option available to cover Spouse and Dependent Daughter
  8. Lifelong Renewal

New India Assurance Cancer Guard Policy

New India Assurance Cancer Guard Policy is a health insurance policy designed specifically to provide coverage for Cancer Treatments. The Policy provides coverage for inpatient and outpatient expenses incurred on treatment of cancer.

Key Features of New India Cancer Guard Policy
  1. New India Cancer Guard Policy provides reimbursement for treatment costs of cancer, either in Inpatient, Outpatient or Daycare Form
  2. Policy provides coverage for conventional and advance cancer treatments such as Chemotherapy, Radiotherapy, Organ transplant, as part of Cancer treatment, Onco-surgery (Surgeries for excision of cancerous tissue or removal of organs), Proton Treatment, Personalised & Targeted therapy, Hormonal Therapy or Endocrine manipulation, Immunotherapy including immunology agents, Stem cell transplantation and Bone marrow transplantation
  3. Insured can opt for Single AC Room for Sum Insured of upto Rs15 lakhs and Deluxe AC Rooms for Sum Insured of Rs25 lakhs and Rs50 Lakhs.
  4. ICU Room expenses are paid as per actuals
  5. Pre and Post-Hospitalisation Expenses Coverage for 30 days and 60 Days
  6. Critical Care Benefit of 50% of Sum Insured if an Insured Person is diagnosed with Cancer for the first time and is in Stage IV.
  7. Cumulative Bonus of 10% per year for every claim free year, provided that the policy is renewed without a break every year, subject to a maximum of 50% of Sum Insured
  8. No Pre-Policy Medical Checkup

New India Assurance Mediclaim Policy

New India Assurance Mediclaim Policy is a comprehensive Health Insurance Policy. People in the age bracket of 18 to 65 years can take this policy. The Policy provides coverage for hospitalisation expenses due to accident or illness.

Key Features of New India Mediclaim Policy
  1. Various Sum Insured Options available up to Rs15 Lakhs
  2. Floater Option available to cover Spouse, Dependent Children, Insured’s Dependent Parents etc.
  3. Room Rent Limit of 1% of Sum Insured for Normal Rooms and 2% of Sum Insured for ICU Rooms
  4. Pre and Post-Hospitalisation Expenses Coverage for 30 days and 60 Days
  5. Cumulative Bonus of 25% of Sum Insured for each claim free year, provided that the policy is renewed without a break every year, subject to a maximum of 50% of Sum Insured
  6. Waiting Period of 48 months for Pre-Existing Diseases
  7. Waiting Period of 24 months for Specific Diseases
  8. Add-On Cover available for No Proportionate Deduction Clause if the Insured opts for a Room with a Room Rent higher than the Room Rent Limit
  9. Add-On Cover available for Maternity Benefits which provides Maternity Benefits upto a maximum of 10% of average Sum Insured of the preceding 3 years
  10. Lifelong Renewal

New India Assurance Top-Up Mediclaim Policy

New India Assurance Top-Up Mediclaim Policy is a comprehensive Top-Up Health Insurance Policy. People in the age bracket of 18 to 65 years can take this Policy and the Policy can be issued on an Individual or a Floater Basis. The Policy provides coverage for hospitalisation expenses due to accident or illness.

Key Features of New India Top-Up Mediclaim Policy
  1. The New India Assurance Top-Up Mediclaim Policy covers hospitalisation expenses once the expenses cross the Threshold Limit. The Threshold Limit can be met by Self Funding or a Health Insurance Policy. It is though not compulsory to have a base health insurance policy.
  2. Various Sum Insured Options available up to Rs22 Lakhs
  3. Room Rent Limit of Rs5000 and Rs8000 per day for Normal Rooms and Rs10000 and Rs16000 per day for ICU Room for Threshold Limit of Rs5 lakhs and Rs8 lakhs respectively
  4. Floater Option available to cover Self, Spouse, Dependent Children and Insured’s Dependent Parents
  5. Waiting Period of 48 months for Pre-Existing Diseases
  6. Waiting Period of 24 and 48 months for Specific Diseases
  7. Coverage for Modern Treatments and Mental Illnesses
  8. Lifelong Renewal

New India Assurance Premier Mediclaim Policy

New India Assurance Premier Mediclaim Policy is a comprehensive Health Insurance Policy with high Sum Insured Options. People in the age bracket of 18 to 65 years can take this Policy and the Policy can be issued on an Individual or a Floater Basis.

Key Features of New India Premier Mediclaim Policy
  1. The New India Assurance Premier Mediclaim Policy covers hospitalisation expenses incurred due to illness or injury.
  2. Various Sum Insured Options available up to Rs1 Crore
  3. No Room Rent Capping
  4. Pre and Post Hospitalisation Expense Coverage for 60 and 90 days respectively
  5. Floater Option available to cover Self, Spouse, Dependent Children and Insured’s Dependent Parents
  6. Pre-Policy Checkup for members only if they have crossed 50 years of age
  7. Maternity and Child-Care expenses payable upto Rs50,000 and Rs1 Lakh for Plan A and Plan B respectively
  8. Critical Care Benefit of Rs2 Lakhs and Rs5 Lakhs for Plan A and Plan B respectively if the Insured is diagnosed with a Critical Illness
  9. Waiting Period of 36 months for Pre-Existing Diseases
  10. Waiting Period of 24 and 36 months for Specific Diseases
  11. Cataract Charges covered upto Rs75,000 and Rs1 lakh for Plan A and Plan B respectively
  12. Lifelong Renewal

New India Assurance Sixty Plus Mediclaim Policy

New India Assurance Sixty Plus Mediclaim Policy is a comprehensive Senior Citizen Health Insurance Policy for with multiple Sum Insured Options. Senior People in the age bracket of 60 to 80 years can take this Policy and the Policy can be issued on an Individual or a Floater Basis.

Key Features of New India Sixty Plus Mediclaim Policy
  1. The New India Assurance Sixty Plus Mediclaim Policy covers hospitalisation expenses incurred due to illness or injury.
  2. Sum Insured Options of Rs2 Lakhs, Rs3 Lakhs and Rs5 Lakhs available
  3. Room Rent Limit of 1% of Sum Insured per Day and 2% of Sum Insured per Day for Normal and ICU Rooms subject to a Sub-Limit of 25% of the Aggregate Sum Insured per Illness/Injury
  4. Sub-Limit of 25% of the Aggregate Sum Insured per Illness/Injury for Surgeon, Anaesthetist, Medical Practitioner, Consultants and Specialists Fees
  5. Sub-Limit of 50% of the Aggregate Sum Insured per Illness/Injury for Anesthesia, Blood, Oxygen, OT charges, Surgical appliances (any disposable surgical consumables), Medicines, drugs, Diagnostic material & X-Ray, Dialysis, Chemotherapy, Radiotherapy, Artificial limbs and implants other than Orthopedic
  6. Co-Payment Clause of 10% of the admissible Claim Amount
  7. Pre and Post Hospitalisation Expense Coverage for 30 and 60 days respectively
  8. At least 1 person covered under the Policy should be above 60 Years of Age ie a Senior Citizen
  9. Pre-Acceptance Medical Checkup is required for all members to be covered under the Policy
  10. Waiting Period of 48 months for Pre-Existing Diseases
  11. Lifelong Renewal

New India Assurance Young India Digi Health Policy

New India Assurance Young Digi Health Policy is a comprehensive Health Insurance Policy for young people in the age bracket of 18 to 45 years and for dependent children in the age bracket of 3 months to 25 years can take this Policy. The Policy can be issued on an Individual or a Floater Basis.

Key Features of New India Young Digi Health Insurance Policy
  1. The New India Assurance Young Digi Health Insurance Policy covers hospitalisation expenses incurred due to illness or injury.
  2. Sum Insured Options of Rs4 Lakhs and Rs8 Lakhs available
  3. The Policy reimburses the cost of Single AC Room for Normal Rooms and as per Actuals for ICU Rooms. Proportionate Deduction is applicable if the Insured opts for a higher category room than his eligible category.
  4. Pre and Post Hospitalisation Expense Coverage for 60 and 90 days respectively
  5. Reinstatement of Sum Insured is available for illnesses or injuries other than for which claim is paid during the Policy period if the Sum Insured is exhausted.
  6. Cumulative Bonus of 10% per year for every claim free year, provided that the policy is renewed without a break every year, subject to a maximum of 30% of Sum Insured.
  7. New Born Baby Coverage available from Day 1
  8. Lifelong Renewal

How to Purchase New India Assurance Policy Online?

  • Visit the New India Assurance website and click on ‘Buy Insurance’ or ‘Get Quote’ option.
  • Select the insurance product you want to purchase – Motor, Health, Travel etc.
  • Provide basic personal, demographic and policy details as prompted.
  • The website will generate a premium quote based on the details entered.
  • You can edit policy parameters like tenure, sum insured etc. to get revised quotes.
  • Once satisfied with the quote, click on ‘Buy Now’ or ‘Proceed’ to go ahead with purchase.
  • The website will then ask you to provide KYC documents and contact details for verification. Upload or enter the requested details and generate the Insurance Policy.

Alternatively, the dedicated team at Qian can also assist you with insurance policy from New India Assurance Company.

How to File a Claim with the New India Assurance Company?

Filing an Insurance Claim with New India Assurance Company is a fairly simple process as listed below:

  1. Call the New India Assurance Toll Free helpline number at 1800-209-1415 and register a claim by providing details like details of incident, date of incident etc.
  2. Fill the Insurance Claim form and provide the necessary documents
  3. The Insurance Company will investigate the claim, inspect documents and process the claim amount if everything is found appropriate

Purchase New India Assurance Insurance Policies with Qian!

Qian is a licensed Insurance Broker with New India Assurance Insurance Company. We can assist you with all insurance policies as well as claim settlement with New India Assurance Company.

For a quote from Qian for New India Assurance’s insurance policy, get in touch with us at 📧 support@qian.co.in or 📞 022-35134695.

GET A FREE QUOTE