National Insurance Company Ltd

Information About National Insurance Company Limited (NIC)

National Insurance Company Limited (NIC) is the oldest general insurance Company of India. It was established in 1906 at Kolkata and was merged with 21 foreign and 11 Indian companies to form National Insurance Company Limited in 1972. NIC is fully owned by the government and is India’s second largest non-life insurer. The Company is known for offering flexible and innovative insurance policies that are customized to meet policyholders’ requirements.

NIC has been accorded with A.M. Best Company’s financial strength rating of B++ (Good) and issuer credit rating of “bbb+’’. This clearly reflects the strong standing of the Company in the present day insurance market of the country.

Besides health insurance, NIC deals in motor insurance, rural insurance, personal insurance, individual risk insurance and commercial risk insurance.

In the field of health insurance, NIC offers cost-effective and comprehensive plans that may be easily purchased online through a website specifically set-up for this purpose.

National Mediclaim Policy

This policy provides a cover for hospitalization expenses on an individual and family floater basis.

Age between 18 years to 65 years.

Dependent children between 3 months and 18 years can be covered.

• Room rent up to 1% of the SI per day (maximum of 25% of the SI).
• ICU rent up to 2% of the SI per day (maximum of 25% of the SI).
• Doctor’s fee of surgeon, anesthetist, consultant and specialist, up to 25% of the SI.
• Ambulance charges up to 1% of the SI (maximum of Rs. 2000).
• Expenses incurred on anesthesia, blood, oxygen, operation theater charges, surgical instruments, medicines and drugs, X-ray, dialysis, chemotherapy, the cost of pacemaker, prosthesis, hospitalization expenses of a donor, up to a maximum of 50% of the SI.

• No illnesses shall be covered for the first 30 days of the policy (not applicable in the case of an accident).
• All pre-existing diseases till 4 continuous policy years.
• Waiting period of 1 or 2 years for certain diseases.
• All treatments related to HIV, AIDS or other sexually transmitted diseases.
• Treatment of psychiatric disorders.
• Treatment of alcohol/substance abuse.
• Dental treatment.
• Hospitalization mainly for diagnostic or investigative purposes.
• Pregnancy and related complications.
• Treatment of obesity.
• Cosmetic treatments.

National Mediclaim Plus Policy

This policy goes beyond the usual health insurance plans and provides a cover for higher healthcare costs. It not only provides for hospitalization expenses but also for maternity, newborn, AYUSH and day care expenses.

• All pre-existing diseases till 3 continuous policy years.
• All treatments related to HIV, AIDS or other sexually transmitted diseases.
• Treatment of psychiatric disorders.
• Treatment of alcohol/substance abuse.
• Naturopathy and experimental treatments.
• Treatment of obesity.
• Cosmetic treatments.

Parivar Mediclaim Policy

It is a floater policy that provides protection to the entire family against financial burden of healthcare costs.

• Room rent up to 1% of the SI per day.
• ICU rent up to 2% of the SI per day.
• Doctor’s fee of the surgeon, anesthetist, consultant, and specialist.
• Expenses incurred on anesthesia, blood, oxygen, operation theater charges, surgical instruments, medicines and drugs, X-ray, dialysis, chemotherapy, the cost of pacemaker, prosthesis.

• All pre-existing diseases till 4 continuous policy years.
• All claims in the first 30 days of the policy.
• All treatments related to HIV, AIDS or other sexually transmitted diseases.
• Hospitalization for diagnostic purposes.
• Treatment of psychiatric disorders.
• Treatment of alcohol/substance abuse.
• Dental treatment.
• Treatment of obesity.
• Cosmetic treatments.

National Parivar Mediclaim Policy

This policy, as the name suggests, provides a cover for hospitalization expenses due to an illness or accident for the entire family on a floater basis.

• Room rent up to 1% of the SI per day.
• ICU rent up to 2% of the SI per day.
• Doctor’s fee of the surgeon, anesthetist, consultant, and specialist.
• Expenses incurred on anesthesia, blood, oxygen, operation theater charges, surgical instruments, medicines and drugs, X-ray, dialysis, chemotherapy, the cost of pacemaker, prosthesis.

• All pre-existing diseases till 4 continuous policy years.
• All claims in the first 30 days of the policy.
• All treatments related to HIV, AIDS or other sexually transmitted diseases.
• Treatment of psychiatric disorders.
• Treatment of alcohol/substance abuse.
• Dental treatment.
• Treatment of obesity.
• Cosmetic treatments.

National Parivar Mediclaim Plus Policy

This policy provides a higher coverage for healthcare costs for the entire family on a floater basis. The unique policy is available in three options.

• All treatments related to HIV, AIDS or other sexually transmitted diseases.
• Treatment of psychiatric disorders.
• Treatment of alcohol/substance abuse.
• Treatment of obesity.
• Cosmetic treatments.

Overseas Mediclaim Policy

This policy provides comprehensive coverage for emergencies that may occur while an individual travels abroad for:

• Business and holiday
• Employment and study
• Corporate frequent travel

1. Overseas Mediclaim Business and Holiday

• Deductibles are applicable for each section.
• Delay in checked baggage is only applicable for outbound international flights for over 12 hours.

2. Overseas Mediclaim Employment and Studies

• D1 plan also covers loss of checked baggage- USD 1000 and delay of checked-in baggage-USD 100.

• All pre-existing diseases.
• Travelling for medical treatment.
• Participation in military operations.
• Intentional self-harm or injury.
• Claims arising out of psychiatric disorders.
• Claims arising out of HIV/AIDS or other sexually transmitted diseases.
• Participation in adventure sports.

Individual Personal Accident Policy

This policy provides financial compensation for death or permanent total disability of the insured on account of an accident.

• under the influence of alcohol or drugs.
• due to participation in adventure sports.
• due to insanity.
• due to a breach of law with criminal intent.

Janata Personal Accident Policy

This policy covers any person between the age group of 10 years to 70 years, irrespective of gender and occupation, for death and disability due to an accident.

• under the influence of alcohol or drugs.
• due to participation in adventure sports.
• due to insanity.
• due to a breach of law with criminal intent.

This information is extracted from the company’s official website to provide information to the general public. The information is likely to change based on the concerned insurance company’s discretion. Alterations, deletions and/or additions to the existing policy products, coverage, and their premiums may be enhanced or reduced. These figures are only guidelines. We recommend the individual to visit the official website of the insurance company for more details and updated matters.

Published on Mar 17, 2016
Last Updated on Jun 21, 2016