I had taken a Health Care Plus policy from Tata-AIG also called as Individual Accident and Sickness Hospital Cash on their website. On the face of it the policy seems very good as we will be getting daily cash in case of hospitalization if we are admitted to hospital for at-least 24 hours plus benefit of doctors visit and medical treatment even for non-hospitalization cases in case of accidental injuries. Second benefit was one of the major reason why I took this policy. One year after I took the policy, I was hospitalized for some treatment and I was discharged after 24 hours. When I called up customer care to file a claim, at that time I came to know that actually I will not get paid any benefit since 1 day is deductible in case of hospitalization for non-accidental claims. So it literally means that to get any hospitalization claim, one has to be admitted in hospital for at-least 48 hours.
Secondly, in case of claim for accidental injuries, there will be 5% deduction on claim amount. I had actually made a claim in this category and I received my claimed amount after appropriate 5% deduction on the claim amount. Now after renewing my policy, second time when I claimed under this category, I was told that there will be 5% deduction on the coverage amount. Meaning, if my coverage amount is 25000 under accidental injuries, then I would not be paid any thing if my claim amount is less than or equal to Rs. 1250/-. So In essence, I did not get anything as my claim amount was less than Rs. 1250/- Now this is totally UN-ethical. How can they change the policy terms after I have properly renewed the policy before due date. The same terms should be applicable when I took the policy.
Also, their customer care executives are not well-informed. When I called them, one executive told me that 5% deduction is on the claim amount and when I called up second time, another one informed me that it is 5% on coverage amount.
So, the policy which seems good on face becomes very non-beneficial due to 1 day deduction and 5% deduction on coverage amount. I will not re-new this policy after my current term expires nor would I recommend any of Tata-AIG policies to any one.