Deductible Rider

Deductible Rider – Smart Savings for Your Healthcare Protection

The Deductible Rider is an optional add-on that helps reduce your health insurance premium by allowing you to choose a predefined deductible amount payable on each admissible claim while continuing to enjoy comprehensive coverage under the base health policy.

Key Product Highlights

• Enjoy attractive discounts on the base premium by opting for a deductible.
• Choose a deductible amount of ₹10,000, ₹15,000, ₹20,000, or ₹25,000.
• The selected deductible is applicable to every admissible claim, including claims for capped ailments covered under the base policy.
• The rider tenure is aligned with the base policy and is available for 1, 2, or 3 years.

Eligibility and Availability

This rider is available only for policyholders with a Sum Insured up to ₹15 Lakhs under the following products:

• New India Mediclaim Policy (Basic Plan).
• New India Floater Mediclaim Policy (Basic Plan).

Plan Overview

• Deductible Options: ₹10,000, ₹15,000, ₹20,000, or ₹25,000.
• Premium Discount: Based on the selected deductible amount and the applicable base premium.
• Policy Tenure: 1, 2, or 3 years (same as the base policy).
• Inception/Renewal: The rider can be opted in or opted out only at policy inception or renewal.

Important Considerations

• The Deductible Rider and the Voluntary Co-pay Optional Cover cannot be opted together. Only one of these options can be selected.
• This rider cannot be purchased as a standalone product and must be attached to an eligible base policy.
• The rider cannot be cancelled independently. It remains linked to the base policy, and any refund is governed by the terms and conditions of the base policy.
• Terms and conditions are determined based on the information provided in the proposal form. Please ensure all details are accurate and complete.

Note: For detailed information on exclusions and claim procedures, please refer to the applicable Base Policy document.

UIN Number: NIAHLIA27004V012627