If a policyholder is living in Jaipur, Lucknow and other tier II cities in India, and the cost of medical treatment is less in these cities as compared to the metros city hospitals then why policyholder pay health insurance premium same as in the metro cities. Those days are over, now your pincode will decide the amount of health insurance premium you need to pay. Yes, new entrant L&T General Insurance’s health insurance plan “My:health Medisure Prime”; now takes into account policyholders address pincode with age, gender in health insurance costs and have incorporated that into pricing. The premium varies according to the location. For instance, someone buying health insurance in Sholapur in Maharashtra would end up paying 15% lower than someone in Mumbai. However, if a person from a small city were to seek treatment in a metro he would have to bear a portion of the treatment cost.
How are the Zones classified for premium calculation?
For the purpose of premium calculation, there are 3 major Zones classified on the basis of your location:
Zone I (All India Cover) Mumbai, Thane, Navi Mumbai, Delhi and NCR Regions
Zone II Chennai, Hyderabad, Bangalore, Pune, Kolkata and Gujarat Regions
Zone III Rest of India (other than Zone I and Zone II locations)
How it works?
Zone I premium gives you an All-India cover. i.e., you can avail treatment all over India without any co-payment
Zone II premium allows you to avail treatment in Zone II and Zone III locations without any sub-limits. But if you have to avail treatment in a Zone I city, you will have to bear a 10% co-payment on each and every claim
Zone III premium allows you to avail treatment only in Zone III locations without sub-limits. In case you have to avail treatment in a Zone II location, you will have to bear a 10% co-payment on each and every claim. And if you have to avail treatment in a Zone I location, you will have to bear a 20% co-payment on each and every claim
You have a choice to opt for Zone I (All India Cover) even if you belong to a Zone II or III by paying the premium applicable under Zone I.
*Insured Persons above the age of 70 years will have an additional co-payment obligation of 25% irrespective of the Zone.