Oriental Insurance Company Ltd. is a Public Sector General Insurance Company that started on 12 September 1947. Its headquarters located in New Delhi and a wholly-owned subsidiary of Oriental Government Security Life Assurance Company Limited. During the time of the nationalization of insurance business in the year 1956 in India, it became a part of LIC – Life Insurance Corporation and worked together until 1973.
Some of the facts about Oriental Insurance Company
1. Oriental Insurance Company has 30 regional offices and 1800 operating offices in India
2. Oriental Insurance Company has an employee strength of 15000 plus world-wide.
3. A.M. Best rated Oriental Insurance Company as A++
4. The Claim ratio is 113.86%
Oriental Insurance – Insurance They Provide
The company provides insurance to almost all sectors like health, motor, travel, and many more. They give general insurance to every enterprise with a unique plan. There are numerous categories of insurance which covers health insurance, car insurance, property insurance, and comprehensive protection against natural disasters in agriculture.
1. Health Insurance by Oriental
Health insurance covers medical expenses among individuals. With the medical insurance coverage, an individual doesn’t have to worry about the heavy expenses that rises during hospitalization as the insurer will have to pay the bills associated with the treatments.
2. Motor Insurance or Vehicle Insurance
This vehicle insurance comes with useful policies which cover vehicle comprehensively. Motor insurance helps to get third party cover as well. Other than that the company also provides insurance like industrial threat insurance and business threat insurance.
Benefits of Oriental Insurance
1. Financial Protection:
This company provides complete protection against all the financial risks which may arise like health and damage to property like a car, home, and more.
This insurance company provides personalized insurance with premiums, and benefits after taking the insurance.
3. Claim Settlement:
This company claim ratio is good and has a presence across India with many offices.
4. Online Insurance:
User can directly buy insurance from the official website
5. Tax Benefit:
Section 10(10D) of the Income Tax Act, 1961 one can avail the benefit.
Oriental Health Insurance Plans
The company provides many types of insurance under the health insurance category which is for individuals as well as family. All the insurance plans are designed in such a way that they cover all the aspects. They have 8 different plans.
1. Individual Mediclaim Policy
2. Happy Family Floater Policy
3. Oriental Health of Privileged Elders Policy (HOPE)
4. Overseas Mediclaim policy
5. Janata Personal Accident Policy
6. Oriental Jan Arogya Plan
7. Oriental Happy Cash Policy
1. Mediclaim Policy for Individual
This health insurance plan covers all the necessary finances to an individual during hospitalization. It handles all the unwanted medical emergencies like a sudden illness, accidents, or any surgery.
1. The individual ages between 18 to 65 years can get benefits from this policy for 1 year.
2. No medical examination requires till the age of 55 years
3. Facilities like ambulance charges, in-patient hospitalization, daycare treatments, and more include during pre and post hospitalization expenses covered for 30 and 60 days.
4. This policy sum assured of INR 50000 to INR 5 lakhs
2. Happy Family Floater Health Insurance Policy
This policy covers all the family members of India. This provides the health insurance plan to the needful and covers the entire family under a single insurance policy. The family member includes self, parents, spouse, children, and parents in law. There are three plans like Silver, Gold, and Diamond.
1. Cover all the members
2. While buying a Silver and Gold plan, a medical checkup is compulsory for an individual whose age is 60 and above. In Diamond plan, 55 years and above
3. Cover existing disease from the 5th year of the plan
4. Cashless facility available
5. No medical checkup under the age 55
6. Facilities like ambulance charges, in-patient hospitalization, daycare treatments, organ donor expenses, maternity expenses, newborn cover, daily hospital cash allowance, domiciliary expenses during pre and post-hospitalization for 30 and 60 days
7. 5% discount is available if bought online with any agent from official website
3. HOPE – Health of Privileged Elders
This specially designed policy for senior citizens. It covers the citizen above 60 years.
1. This policy covers definite and specified disease only
2. A co-payment of 20% on the admissible claim amount
3. Pre-medical check is required
4. No claim Discount available
5. Loading for new entrants
6. The benefit of continuousness extension if other mediclaim policy from other company
7. Cashless facility through TPA – Third-Party administration and limited to INR 1 lakh
8. Facilities like ambulance charges, in-patient hospitalization, daycare treatments, organ donor expenses, maternity expenses, newborn cover, daily hospital cash allowance, domiciliary expenses during pre and post-hospitalization for 30 and 60 days
4. Oriental Overseas Mediclaim Policy
This plan is designed who bag packed for a trip abroad.
1. In and Out Patients expense covered
2. Covers existing disease from 5th year of plan
3. Cashless facility available with M/S Coris International
4. Plans under this policy are:
a. Holiday and Business trip
b. Students studying abroad
c. Policy for Corporate individual who sends official to abroad.
5. Janata Personal Accident Policy
This policy is one of the most popular policies. Janata Personal Accident Policy covers all the citizens of India irrespective of age, sex, and occupation. This plan offers Personal Accident which covers Total Disablement, Loss of Limbs, and Permanent Partial Disablement and hospitalization expenditures and it is only for Indian citizen and fall under the schedule of insurance of the policy.
1. Death of the insured person
2. Loss of eyesight of both eyes total or irrecoverable and loss of two hand and two feet or loss of one eye, hand or feet
3. Due to accident permanent total disablement
4. Sum assured INR 25000 to INR 5 lakhs
6. Oriental Jan Arogya Plan
This policy covers the medical expenses of a person subsequent to hospitalization. This Jan Arogya Plan provides complete coverage of a person’s illnesses and injuries.
1. Complete coverage of expenses related to hospitalization, domiciliary hospitalization
2. Facilities like nursing expenses, surgeon costs, blood, x-ray, dialysis, medicines and drugs, cost of organs, room charges, fees for specialists doctors during pre and post-hospitalization covered for 30 and 60 days
3. 5% discount while purchase from official website online
7. Oriental Happy Cash
This policy designed to provide daily cash benefits to the person or the insured family if in case of hospitalization to support hospital-related costs. This will be helpful when non-medical expenses have to cover.
1. Daily Cash
2. Convalescence benefits means paid lump sum amount
3. No hidden expenses, a total transparent plan
4. Hassle Free claim settlement processes
5. Daily 25% cash benefits for women at no extra cost
6. Income proof is not necessary
7. No Medical test
Oriental Vehicle Insurance Plans
Oriental Car Insurance policy is for car and two-wheeler. Oriental car insurance offers complete coverage to the car and two-wheeler insurance.
Oriental Two Wheeler Insurance: A complete two-wheeler insurance with the benefits of third-party liability coverage.
1. Loss or damage to two-wheeler due to accident
2. Personal accident covers for two-wheeler owner and driver, liability to third parties
3. Extra premium cover various add-ons and take benefits
Oriental Car Insurance an effective car insurance policy for your personal car. This policy covers the car against theft and any damage to the car by any natural or manmade calamities.
1. Accidental loss or damage to the car
2. Personal accident covers for car owner and driver, liability to third parties
3. Extra premium cover various add-ons and take benefits Coverage of loss of electrical or non-electrical accessories
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