Oriental Health Insurance vs New India Health Insurance

In the modern era, the cost of healthcare has become so steep that even a simple diagnostic test and consultation at a hospital can burn a hole in your pocket. Hospitalization costs have been rising exponentially. With COVID-19 still raging all over India, the need for getting expensive treatments and hospitalizations can arise at any time. Hence, in such times of inflation and uncertainty, it is prudent to have a health insurance plan to cover your medical expenses. Comparing the features of leading health insurance providers is a convenient way to find a plan that fits your budget and needs. You can start with this Oriental Health Insurance and New India Health Insurance guide.

Oriental Health Insurance versus New India Health Insurance – Overview 

ParameterOriental Health InsuranceNew India Health Insurance
Number of health insurance plans10+10
E-servicesPolicy sale
Policy renewal
Claim settlement
Online consultation
Branch locator 
24×7 customer support 		Policy sale
Policy renewal
Claim settlement
Online consultation
Branch locator 
24×7 customer support
Branches1000+1000+
Incurred Claim ratio 113.86%103.9%
Claim settlement ratio94.28%95.92%
Network Hospitals 4,300+1,500+

*Source: IRDAI Annual Report, 2018-19

Health Insurance Policies: Oriental Health Insurance versus New India Health Insurance

Oriental Health Insurance offers over 10 health insurance policies for individuals, families, senior citizens, corporate groups (employees) and Indians abroad. These plans cover accidents, critical illnesses, and COVID-19, among other eventualities. 

New India Health Insurance has 10 health insurance policies for individuals, families, senior citizens and overseas Indians. These provide coverage against accidents, critical illnesses and COVID-19 as well as other health related ailments. 

This 3-plan comparison of Oriental Health Insurance and New India Health Insurance can direct you towards the health insurance provider offering the best benefits.

Family Floater Policy: 

Oriental Health Insurance has a ‘Happy Family Floater Policy’ with 3 sub-plans (Silver, Gold and Diamond). They offer:

  • Reimbursement for pre, post and in-hospitalization expenses
  • Indemnification of expenses incurred for AYUSH treatment
  • Payouts up to 100% sum insured (SI) for domiciliary hospitalization 
  • Lump-sum payout of 10% SI for organ donor expenses 
  • Provision of maternity and newborn baby cover (Only in Diamond plan)
  • Mental illness coverage and second opinion options

New India Health Insurance offers New India Mediclaim Policy, Premier Mediclaim Policy, and Floater Mediclaim Policy provide coverage for family needs. Here are some of the key features: 

  • Reimbursements for pre, post and in-hospitalization expenses
  • SI up to Rs.1 crore and daily hospital cash allowance 
  • Coverage for critical illnesses, cataract treatment, and AYUSH treatment 
  • Provision of maternity and newborn baby cover
  • Indemnification for over 130 day-care procedures 
  • Inclusion of psychiatric disorders (only in Premier Mediclaim Policy) 

Arogya Sanjeevani Policy: 

Oriental Health Insurance Arogya Sanjeevani Policy offers:

  • Indemnification of pre, post and in-hospitalization charges
  • Reimbursement of AYUSH treatment costs
  • Payouts for cataract treatment (up to 25% of SI)
  • Coverage for over 110 day-care procedures 
  • Inclusion of robotic surgeries, oral chemotherapy and more (up to 50% of SI)

New India Health Insurance Arogya Sanjeevani Policy offers:

  • SI amounts between Rs.1 lakh – Rs.5 lakhs
  • Waiver of pre-policy medical checkup 
  • Reimbursement for pre, post and in-hospitalization charges
  • Coverage for AYUSH treatment, HIV, mental illness and genetic disorders 
  • Payment of 25% SI for cataract treatment and 50% SI for advanced treatments
  • Indemnification for dental treatment owing to an illness/injury

Corona Kavach Policy: 

Oriental Health Insurance Corona Kavach Policy offers:

  • Indemnification of pre, post and in-hospitalization expenses (including ICU expenses, doctor and nursing fees, etc.)
  • Reimbursement for homecare treatment (including diagnostic tests, medication, consultation, doctor and nursing fees) 
  • Inclusion of AYUSH treatment
  • Ambulance expense covers (maximum of Rs.2 thousand per hospitalization)
  • Policy periods of 3.5, 6.5 and 9.5 months

New India Health Insurance Corona Kavach Policy offers:

  • SI between Rs.50,000 and Rs.5 lakhs
  • Reimbursement for pre and post hospitalization expenses
  • Coverage for homecare treatment and AYUSH treatment 
  • 5% discount to females 
  • Policy terms of 3.5, 6.5 and 9.5 months

If you need help in understanding your policy document wording and figuring out the exclusions/limits, you can contact a professional insurance expert to purchase health insurance.

Related Posts: