New India Flexi Floater Group Mediclaim Policy - Benefits, Coverage, Features
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Flexi Floater Group Mediclaim

New India Flexi Floater Group Mediclaim Policy is a versatile group he ...Read More

Up to 2 Crore
Sum insured
1
No. of plans
1800+
Pan India presence
90.73%
Claim settlement ratio
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🛡️ IRDAI Approved
⭐ 4.4/5 · 2,689 reviews
🏥 3,000+ hospitals
📊 1.91 solvency ratio
✅ 90.73% claim settlement

About Flexi Floater Group Mediclaim

A quick read on what this New India Health Insurance plan covers and why it might be a fit for you.

New India Flexi Floater Group Mediclaim Policy is a comprehensive health insurance plan. Since a group health insurance policy is designed to offer financial protection and risk mitigation to the members of the group collectively under a single policy, it offers extensive coverage for medical expenses incurred by the insured group members, including hospitalization expenses, doctor's fees, medicines, and more. The policy provides cost-effective and flexible coverage options, with the convenience of cashless treatment at network hospitals.

New India Assurance has gained the trust of millions by offering comprehensive coverage and a prompt claim settlement of 92.93%( calculated for 3 months), making it a trusted name in the insurance industry.

Plan at a glance

Eligibility, sum insured options and policy mechanics — pulled straight from the policy wording.

Entry age
18 to 60 Years
Plan type
Group Health Insurance
Waiting period
30 days
Renewability
Lifelong
Policy term
1 Year

*Initial Waiting Period is the time period between the issuance of the policy and the time it starts actively. During this period, a policyholder has to wait to avail of the benefits offered under a health insurance plan.

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Lasik Surgery
  • Maternity Cover
  • New Born Cover

Cons

  • Illegal actvities
  • Alcoholism and drug abuse
  • self-inflicted harm

What's covered

Every CMS-driven coverage flag from the plan wording — only items with a published value render below.

Hospitalization

  • Room rent Covered
  • ICU charges Covered
  • Pre-hospitalization Covered
  • Post-hospitalization Covered
  • Domiciliary hospitalization Covered
  • Day-care treatment Covered
  • OPD charges Not covered
  • Covid-19 treatment Covered
  • Cataract Covered

Bonuses & restoration

  • No-claim bonus Not covered
  • Automatic restoration of SI Not covered
  • Daily hospital cash Not covered

Family & special care

  • Maternity cover Not covered
  • New-born baby cover Covered
  • IVF treatment Not covered
  • AYUSH treatment Covered
  • Organ donor expenses Covered

Modern & preventive care

  • Modern treatment Covered
  • Road ambulance Covered
  • Air ambulance Not covered
  • E-consultation Not covered
  • Health check-up Covered
  • Second medical opinion Not covered
  • Vaccination Covered

Conditions & global

  • Co-payment Covered
  • Sub-limits Covered
  • Compassionate travel Not covered
  • Global coverage Covered

Video reviews

Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.

New India Health Insurance

New India Health Insurance

This video talks about New India Health Insurance in detail. It talks about key features like Solvency Ratio, Claim Support Ratio which help an individual to analyze if the Insurer matches with his/ her requirements.

Features of New India Assurance Flexi Floater Group Mediclaim Policy

This group health insurance plan provides security and support to the members of the group, ensuring their well-being. The following characteristics of this plan make it unique:

  • Expenses like intensivist charges, monitors, and pulse oximeters are covered, which means that the coverage includes expenses for specialized medical professionals, monitoring equipment, and essential devices, with a limit of 2% of the sum insured per day.
  • Organ transplant expenses are covered, which means, if the insured person undergoes an organ transplant, the company's liability for expenses incurred on the donor and recipient will not exceed the sum insured by the recipient. This ensures coverage for the transplantation process while maintaining a reasonable limit.
  • The benefit of a cumulative bonus makes this plan cost-effective.
  • The plan depends on many factors such as, where you are receiving treatment, and the premium is determined by your age and geographic location.
  • The Flexi Floater Group Mediclaim Policy offers a Tax Benefit under Section 80D of the IT Act
  • In the New India Flexi Floater Group Mediclaim Policy, the premium is determined by the eldest family member's age.
  • The plan also serves as a family floater insurance policy because the policyholder can insure both his or her spouse and up to two children under the plan. The plan additionally has a 50% loading., each dependent child is subject to a 25% loading.

Inclusions of New India Flexi Floater Group Mediclaim Policy:

Cover for 30 days of pre-hospitalization expenses and 60 days of post-hospitalization expenses, with a hospitalization duration of more than 24 hours

Cover for day-care treatment expenses up to a specified limit where 24-hour hospitalization is not required

25% compensation for Ayurvedic, Homeopathic, and Unani treatments done in government hospitals

Coverage for pre-existing diseases after four years of continuous claim-free renewals.

Cover for pre-existing conditions such as diabetes, hypertension, and related complications post two years of uninterrupted insurance services, with an additional premium payment required.

Special Inclusions of the New India Flexi Floater Group Mediclaim Policy

  • Impairment of Persons' Intellectual Faculties: This coverage is up to 5% of the sum insured, with a maximum limit of Rs. 25,000 per policy period.
  • Artificial Life Maintenance: Coverage for artificial life maintenance is up to 10% of the sum insured and is limited to a maximum of 15 days per policy period following admission for a covered illness.
  • Puberty and Menopause-Related Disorders: Coverage for these conditions is provided only as an inpatient procedure after 24 months of continuous coverage. The cover has a sub-limit of up to 25% of the sum insured per policy period.
  • Age-Related Macular Degeneration (ARMD): The coverage has a sub-limit of 10% of the sum insured, with a maximum limit of Rs. 75,000 per policy period and the waiting period is 48 months.
  • Behavioral and Neurodevelopmental Disorders: This coverage has a sub-limit of 25% of the sum insured per policy period, which is within the sum insured and does not increase the overall sum insured.
  • Genetic Diseases or Disorders: Genetic diseases or disorders are covered with a sub-limit of 25% of the sum insured per policy period. However, there is a waiting period of 48 months before coverage for such conditions becomes effective.
  • Treatment of Mental Illness and Neurodegenerative Disorders: The coverage has a sub-limit of up to 25% of the sum insured per policy period and the waiting period is 48 months.

New India Health Insurance Network Hospital List

New India Health Insurance Network Hospitals are present in 31 states nationwide. With a wide network of hospitals, New India Health Insurance ensures that you are medically secured, irrespective of the city you reside in.

Delhi Mumbai Bengaluru Chennai Kolkata Hyderabad Pune Ahmedabad Jaipur Lucknow

Know More About Network Hospitals →

Inclusions & exclusions

What the plan pays for, and what it doesn't.

Exclusions

  • Permanent diseases or health conditions that are not included under the New India Flexi Floater Group Mediclaim Plan are:
  • Hospitalization out of war, riot, strike, and nuclear weapons
  • Intentional self-injury
  • AIDS
  • Miscarriage, and Abortion
  • Congenital disease
  • Infertility and in vitro fertilization
  • Certain diseases and treatments are covered under this plan after a certain period. Read the details below:
  • Listed ailments after 24/48 Months

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

  • Min entry age: 18 Years
  • Max entry age: 60 Years
  • Initial Waiting Period: 30 Days
  • Sum Insured: Up to 5 L

Other features & benefits

Step By Step Process of New India Flexi Floater Group Mediclaim Policy Renewal

New India Flexi Floater Group Mediclaim Policy renewal is the process of updating the policy terms, reviewing coverage options, and paying the premium for the renewed period. Policy renewal ensures the continuity of insurance coverage, allowing policyholders to maintain their benefits without any gaps or interruptions. The policy can be renewed with mutual consent and The company is not obligated to provide renewal notices. Here is the step-by-step process of policy renewal:

  • For Quick Renewal, enter your Customer ID and either the Renewed Quote No. (received via SMS) or the Old Policy No.
  • Save the Quote after reviewing your details to proceed with the renewal process.
  • Choose your preferred payment method - Credit Card, Debit Card, or Net Banking.
  • Complete the premium payment using the selected payment mode.
  • Once the payment is successfully processed, your policy will be issued or renewed promptly.

Flexi Floater Group Mediclaim Policy: FAQs

The 11 most-asked questions about Flexi Floater Group Mediclaim, answered.

The plan ensures that the room rent does not exceed 1% per day, providing cost-effective accommodation during hospitalization.
The coverage includes expenses for specialized medical professionals, monitoring equipment, and essential devices, with a limit of 2% of the sum insured per day.
The plan covers a wide range of medical expenses, including professional fees for surgeons, anesthetists, consultants, and specialists. It also includes costs for anaesthesia, blood, oxygen, operating theater charges, and various procedures such as dialysis, chemotherapy, and radiotherapy.
Yes, ambulance charges are covered under the Flexi Floater Group Mediclaim Policy. The plan covers ambulance charges up to 1% of the sum insured or the actual expenses, whichever is lower, with a maximum limit of Rs. 2,500.
Yes, the New India Flexi Floater Group Mediclaim Policy covers organ transplantation expenses.
Yes, the policy covers 30 days of pre-hospitalization expenses and 60 days of post-hospitalization expenses, with a hospitalization duration of more than 24 hours.
Yes, the policy provides cover for daycare treatment expenses up to a specified limit where 24-hour hospitalization is not required.
Yes, the policy offers 25% compensation for Ayurvedic, Homeopathic, and Unani treatments done in government hospitals.
Coverage for pre-existing diseases is available after four years of continuous claim-free renewals.
Yes, there are special inclusions such as coverage for impairment of persons’ intellectual faculties, artificial life maintenance, puberty and menopause-related disorders, age-related macular degeneration (ARMD), behavioral and neurodevelopmental disorders, genetic diseases or disorders, and treatment of mental illness and neurodegenerative disorders.
The Cancellation Clause of the New India Assurance Group Mediclaim Policy is as follows: The insurance company has the authority to cancel the policy by sending the insured a formal letter with a 30-day prior notification. In case of cancellation, the company will refund the premium based on the short-period rate table of the policy.

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Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Written by Naval Goel — Founder & CEO, PolicyX.com Reviewed by Manoj Kumar — IRDAI-certified Health Insurance Specialist
Last updated: 7 Aug 2023 · Originally published: 29 Oct 2024

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