Mediclaim Policy Proposal Form with details of Amount Insured and Premium

The proposal form of Insurance policy establishes the particulars of the coverage very precisely, where the updated proposal form of single Mediclaim policy presents the particulars of coverage elisions, terms etc... Solely customer has to fill up and sign on the proposal form who is affording policy from Insurance company and the proposal form comprises of queries for complete particulars of Insured.

The proposal form holds the data regarding the Insured Name, Address, Profession, Date of Birth, Sex and Relationship with Suggester(Introducer). The proposal form as well comprises of salary particulars associating to average monthly/annual income, income tax, pan card number likewise.

The proposal as well educes the name, address, qualification and register number of Doctor/Physician. In few events medical report is not mandatory. In addition to above questionnaire the medical status of the insured individual is crucial and after elaborated queries in the proposal form knowledge on prior claims is essential for relevancy of the policy.

The insured must mention about pre-existence of any disease conditions in the proposal form. Particulars about any other illness/malady/disease or suffered from an accident and his recuperation as well important in proposal form. The insured must state to the insurer about any other assertions like presence of injury or underlying illness which may requires medical care during policy preparation.

Characteristics of Mediclaim (Helath Insurance) Policy and Declarations

• The proposer empowers the insurer to ascertain medical data from hospital/physician who has incase assisted any illness or disease resulted in physical/mental dysfunction at any time.
• The insured person entrusts confidence in proposal form particulars and accepting the policy terms and conditions specified in the form.
• The groundwork for contract ‘tween insured and insurer is the proposal form which is accurately mentioned by the insured.
• In case the insured hold any chronicle contrary claim during the instance of outset of policy, the insured has to fill out a elaborated queries associated to Diabetes, Hypertension, chest pain, coronary insufficiency, Myocardial infarction.
• These must be corroborated by medical practitioner/physician. In few circumstances medical report is essential and in general cases for new entries if insured is above 50 years is mandate. Amount Insured and Premium under Mediclaim Policy.
• The amount insured is available from minimum Rs. 15000 with multiples of Rs 5000 up to maximum of Rs 500000. The domiciliary hospitalization confinement is restricted at 20% of the total amount insured up to Rs. 100000 and 15% beyond Rs.100000.
• The domiciliary hospitalization is a component of overall confinement of amount insured. The premium opted by the insured is associated to the age and amount insured.
• The premium calculation reckons on age in Mediclaim policy.
• The age wise slabs for calculation of premium are as follows up to 25 years, 26-45 years, 46-55 years, 56-65 years, 66-70 years, 71-75 years, and 76-80 years.
• The rates are charged on an uprising scale on the amount insured arraying from Rs. 15000 to Rs. 500000. 
• The Mediclaim policy has income tax privilege for premium up to Rs. 10000 under 80D regulation of income tax.