Should You Buy Kotak Health Care - A Comprehensive Health Insurance Plan?
Dec 27, 2016

Author: PersonalFN Content & Research Team

Health insurance has become a necessity for every individual in the last few years, given the stress we face and the sedentary lifestyle we follow. From kids to the elderly, health insurance provides financial aid during unforeseen times.

It is important to look at the broader aspects of life and health care needs while choosing health insurance (popularly known as mediclaim). And one of the ways to do so is to purchase a comprehensive health insurance plan to ensure you and your family members are always well-protected.

Kotak General Insurance offers Kotak Health Care, a comprehensive health insurance plan. Some of the key features of the plan are as follows:

Free Health Check-Up: The policy offers a free health check-up for every insured member above the age of 18. A considerable number of tests are covered under this free check-up, which includes: CBC, MER, Serum, Cholesterol, Serum Creatinine, SGPT /SGOT, ECG, Random Blood Sugar. Utilising the Free Health Check-Up will not affect the Base Annual Sum Insured or the Cumulative Bonus.
Ambulance Cover: The plan covers emergency ambulance services. The cost of transporting the insured person by a registered healthcare or ambulance service provider to a hospital for treatment of an illness or injury following an emergency will be covered as per the limits specified in the policy documents.
In-Patient Treatment: Medical expenses incurred in the event of in-patient hospitalization of the insured person resulting out of an Illness or an Injury for a minimum and continuous period of 24 hours will be covered.
Enhanced Protection: For better coverage, you can choose to enhance the policy by choosing from a range of add-ons that are available for an additional premium.
Day Care Treatments: The policy covers the cost for up to 150 specified day care procedures and treatments.
Pre-Hospitalization Medical Expenses and Post-Hospitalization Medical Expenses: Medical expenses incurred 30 days before a hospitalisation, and 60 days after a hospitalisation will be covered under Kotak Health Care.
Cashless Settlement: Kotak General Insurance has network of over 4,000+ hospitals across the country which helps to avail of hassle-free e cashless settlements.
Cumulative Bonus: Avail a cumulative bonus of 10% on your base annual sum insured on renewal of this policy provided there has been no claim throughout the policy period (up to a maximum of 50% of base annual sum insured). If any claim is made under the policy after a cumulative bonus has been applied, then the accrued cumulative bonus under the policy will reduce by 10% on the commencement of the next Policy Year or the next Renewal of the policy (as applicable).
Picking a Plan: Kotak Health Care offers three options—Excel, Premium and Prime.

Here is the synopsis of the three options

Benefits	Excel	Premium	Prime
Base Sum Insured	2 lakh, 3 lakh, or 4 lakh	5 lakh, 10 lakh, 15 lakh, 20 lakh, or 25 lakh	10 lakh, 15 lakh, 20 lakh, 25 lakh, 50 lakh, 75 lakh, or 100 lakh
Optional Covers (Add-Ons)	Pack 1: Hospital Daily Cash + Convalescence Benefit + Donor Expenses Pack 2: Critical Illness Cover + Double Sum Insured Pack 3: Cap on Room Rent	Pack 1: Hospital Daily Cash + Convalescence Benefit + Donor Expenses Pack 2: Critical Illness Cover + Double Sum Insured	Option 1: Hospital Daily Cash Option 2: Convalescence Benefit Option 3: Donor Expense Option 4: Critical Illness Cover Option 5: Double Sum Insured Option 6: Domiciliary Hospitalisation Cover Option 7: Alternative Treatment Option 8: Maternity Benefit Option 9: New Born Baby Cover Option 10: Compassionate Visit Option 11: Restoration of Sum Insured
Individual/Floater	Individual: Available for all sum insured Floater: Available for 3 lakhs and 4 lakhs only	Individuals and Floater plans available for all sum insured
Mandatory Medical Check-Ups	For Individuals > 45 years
Waiting Period: Pre-Existing Disease	4 Years (for all age groups)
Min / Max. Entry Age	Minimum 5 years & Maximum 65 years (Individual); Minimum 91 days & Maximum 65 years (Floater); Maximum 25 years for dependent children
Exit Age	No Exit Age
Policy Tenure	1, 2, & 3 years
Relationships Covered	Self, Spouse, Dependent Children, Dependent Parents
Tax Benefit	Under Sec. 80D of Income Tax Act 1961

(Note: The table is for illustration purpose only)
(Source: Product brochure of Kotak Health Care)
To conclude…

Overall, the Kotak Health Care plan is a good option for life insurance seekers as it offers indemnification of risk to health with an appealing cost-to-benefit ratio.

When addressing health insurance needs assess your health insurance requirements prudently. Also, compare policies for the benefits/feature/exclusions vis-à-vis the premium before finalizing. Make sure to purchase an optimal health insurance cover of at least Rs 5 lakh. You can add a super top-up plan if needed.