The world without a worry !
So, you can focus on your studies, and you'll only bring back happy memories
They say, travelling makes you a storyteller. We ensure your employees only have happy stories to share. Give them the comfort of Group Explore our Travel Insurance on their next work-trip both International or Domestic.
With CHI as your insurer, its truly Health ki Guarantee!
Freedom to get Health Insurance without worrying about your current health status
Get enhanced coverage for greater protection
A perfect blend of hospitalization & maternity insurance
Along with Maternity & Newborn coverage, Joy offers you a number of thoughtfully designed features & Services that give you several advantages at most critical of time. Two plans available- Joy Today and Joy tomorrow.
A Comprehensive Health Insurance plan that not only covers heart ailments but offers much more
* At the discretion of Underwriting. **Up to 25% of Sum Insured.
A Comprehensive Health Insurance plan for Life’s golden years.
*At the discretion of underwriter.
^Tax Benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time.
For tax related queries, contact your independent tax advisor. As per section 80D of Income Tax Act, an Adult (aged between 18 & 60 years) can save tax on a premium of upto Rs. 25,000 and his/her senior citizen parent/s (aged 60 years & above) can save tax on a premium of upto Rs.50,000.
**For 5 consecutive claims free years by using No Claim Bonus & No Claim Bonus Super (Optional Cover ).
Incremental increase every year is applicable on base Sum Insured. If a claim is made in any particular year accrued NCB or NCB super will be reduced at same rate at which it is accrued.
In line with our objective of ensuring good health…hamesha! Our Comprehensive Health Insurance Plan – Group Care; helps safeguard the most important asset for you i.e. your employees / Customer, against financial risks arising out of a medical emergency.
A comprehensive Health Insurance that covers all major types of Cancers on a lifelong basis and offers affordable EMIs.
Health Insurance cover specifically designed to cover 16 major Heart ailments that comes with option to pay in Easy EMIs
Unlike most other plans this plan offers lifelong coverage for 32 critical illnesses
Health Insurance that covers expenses related to defined Surgical procedures
Truly Comprehensive Personal Accident cover with broad range of features, add-on benefits, hassle free procedures & thoughtful services
Journey of life is not smooth and some things cannot be predicted for such as an unfortunate accident. That’s why your employees/customers need Group Secure – Personal Accident Insurance so that life’s big or small surprises never pull you down.
Please visit Self Help Portal for changing your contact details such as Address, Email ID and Mobile number as well as for placing request online for Policy documents and tracking your Request status.
Managing your Care Health Insurance policy is now App Solutely Simple with our all new mobile app. Available on both Google Play Store & iOS. To download – click on Icon
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Managing your Care Health Insurance policy is now App Solutely Simple with our all new mobile app. Available on both Google Play Store & iOS. To download
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What is the Ideal Incurred Claim Ratio?
95.22%
Claim Settlement Ratio (OND 2018)
8250 +
Network Hospitals across 500 cities
400 Lacs+
Lives covered
Health insurance is an emerging sector in India. A plethora of health insurance plans are available for customers. If you are a newbie in health insurance investment, it becomes overwhelming to choose the right health insurance policy. Coverage, exclusions, premium, network hospitals, COVID-19 coverage, etc., are several factors that influence your buying decision. However, the incurred claim ratio is the most crucial one you should consider before opting for medical insurance. Here, you can read about the incurred claim ratio and how it helps in your buying decision.
Incurred Claim Ratio (ICR) or Claim Incurred Ratio refers to the proportion of claims paid by a health insurance company against the total amount of premium received during a financial year. IRDAI publishes the incurred claim ratio details every year. It's calculated by the total value of claims paid by the insurance company divided by the amount of premium collected in a financial year. It is a yardstick used to measure the performance of any health insurance company. Experts opine that a company with a moderate incurred claim ratio should be an ideal choice for investment, and you can bank upon it for financial security.
Generally, ICR is used in the general insurance segment. A higher incurred claim ratio is beneficial for policy buyers. For instance, if the incurred claim ratio for an insurer is above 100%, this implies that for every 100 Rupees collected as premium, the insurer is settling a claim more than 100 Rupees. A lower incurred claim ratio does not necessarily mean a loss. In fact, that could imply that the insurer may be making a profit with higher premium collections.
Incurred Claim Ratio (ICR) = Net Claims Incurred/Net Premium Collected
ICR can be one of the deciding factors while choosing a health policy. But your decision should not be based solely on it. Few things to consider are:
Claim Settlement Time:
At times it happens, that health insurance companies manipulate ICR by delaying the settlement of insurance claims. Their ICR may be in the range of 75 %- 85 %, but they may take months to settle the claims. Customers will get the claim settlement in the same financial year, but it can be delayed.
Not a Good for Start-Ups:
Start-ups in the health insurance sector may take time to earn a hefty premium. There is a possibility that the amount paid out as settlements can exceed the amount received as a premium. That results, 100% or above ICR, which does not provide an accurate picture to the customers.
Here you can interpret these below statements to know how ICR can help you to choose the right health insurance plan.
Do not get confused between Incurred Claim Ratio and Claim Settlement Ratio (CSR). These are two different yet necessary jargon often used in the health insurance segment. It is essential to understand the difference between these two terminologies to make an informed decision. The incurred claim ratio is the total amount of claims paid over the total premium received during the year. Simultaneously, the claim settlement ratio is the number of claims paid over the total claims received by the health insurance company during the year. Opt for the company with an average ICR but with higher CSR to stay in a win-win situation.
The ideal Incurred claim ratio lies between 70%-90%, so, you should opt for the health insurance company like us with moderate ICR.
There is a high possibility that, as a customer, you can be stuck in a doubtful situation when it comes to choosing a trustworthy health insurance provider. But do not worry! As our name indicates, we care about your hard-earned money and health. We have 55% ICR, which means your money will be in safe hands. Our ICR metrics indicate that we are working moderately on settling the claims per year and have a list of happy and satisfied customers. So, opt for our health insurance plan and stay safe and protected.
The incurred claim ratio shows the health insurance company's ability to settle the claim.
Yes, you can use it as one of the parameters to check the company's financial ability. However, your decision should not be based on it entirely.
You can use it as one of the deciding factors, but you should consider other crucial aspects of the policy as well that are equally important.
Yes, because a start-up takes time to collect a premium than an already established company comparatively.
Walk-in to the nearest Axis Bank branch to pay your Renewal Premium conveniently via Cheque/Demand Draft. Please ensure to keep the following in mind while opting for the same:
Please visit during banking hours and ask for ‘Easy Pay’ service counters at Axis Bank branch to deposit your premium.
Please mention your Policy(s)number and Contact number on the reverse of cheque. Instrument should be in favour of "Religare Health Insurance Company Limited"
Make sure to collect the acknowledgement slip before leaving bank’s service counter for any future correspondence.
Postdated/ Outstation/ Third Party cheques are not allowed.
Please ensure the cheque amount is equal to the amount mentioned in renewal invite.
It is advisable to carry a copy of Renewal invite while visiting to Axis Bank branch.
Please ensure to deposit the cheque at least 7 Days prior to the due date. Instrument deposition is not allowed after the policy expiry date.
In case of any modifications in the policy details at the time of renewal, please contact our
branch and do not deposit the cheque in Axis Bank Branch.
Contact respective ‘Axis Bank branch manager’ in case of any difficulty/issue/clarification related to deposition of renewal premium. You may further contact our Customer Service team at 1800-102-4488/1800-102-6655
Add family members to be insured
Terms & Conditions of Premium Quote Generation
"Care Health Insurance Ltd (formerly known as Religare Health Insurance Company Limited) & associate partners may contact you to assist you with website navigation of www.careinsurance.com and assist in proposal filling."