This is a new policy planed for students in registered educational institutions within India to provide financial protection towards their Hospitalization and continuation of studies in case of death / disablement of the parents / legal Guardian.
Educational institutions are also eligible to take group policy covering named students enrolled with them.
Policy highlights :
Policy Coverage :
The policy has been divided into 3 sections, to cover – Hospitalization expenses of the student, Personal Accident (Death / Permanent Total disablement) of the parent / legal guardian of the insured students and also personal accident of the student.
Sum Insured :
Ranges should be between Rs.50000/- to Rs.400000/-
The premium for hospitalization expenses is considerably lower compared to the standard Mediclaim Policy
The insured students’ guardian will be eligible for deduction under Sec 80D of the income Tax Act, 1961
The policy will be serviced by authorised TPA’s (Third Party Administrators) for hospitalization. Cashless retrieve service available through Network hospitals/ nursing homes subject to pre-authorization of TPA for hospitalization claims.
On attaining the age of 25 years the student would be outside the policy’s purview and all accrued benefits would be available to him/her under standard mediclaim policy provided there is no break in continuity of cover.
Cumulative Bonus or Discount:
Available as per policy conditions
Ranging from 10% to 30% depending on group size
For more detail regarding this you can contact your nearest NIC Office
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