CLAIM SETTLEMENT RATIO OF TATA AIG HEALTH INSURANCE

Claim settlement ratio is the first thing that every person takes note of when they are buying their insurance policy. It usually helps determine the insurance provider's ability to settle their claims. For years TATA AIG health insurance claim has maintained an average claim settlement ratio of above 85% which is required by the standards. Regardless of claim settlement ratio TATA AIG also ensures that their customer's queries and requests are answered on time with their team of customer support available for them 24/7. The customer can relax and forget about their worry as TATA AIG offers them fast and user-friendly claim settlement.

Steps to File TATA AIG Health Insurance Claim:

The following are the various ways that you need to follow for filing a TATA health insurance claim:

 Cashless TATA AIG health insurance claim:

The customer can directly file for the cashless claim facility with the TATA AIG health insurance and can settle the hospital charges without any extra paperwork. They can follow the given steps to claim cashless TATA health insurance claim:

Inform the health insurance provider:

The policyholder needs to inform the TATA AIG insurance claim department at least 48 hours before admission or within 24 hours of admission in case of emergency.

Submit the required documents:

The insurance claimant needs to submit all the required documents to ensure the smooth verification and settlement of the TATA AIG health insurance claim.

Wait for the completion of claim verification:

TATA AIG will verify all the documents and insurance claim merits. After completion of verification, the insurance, the network hospital, and the policyholder will be informed of the same along with a claim issuance certificate. The certificate is valid for up to 7 days from issuance. 

Follow-up with the network hospital claim department:

The policyholder needs to make sure to follow up with the network hospital to get the TATA health insurance claim settlement along with identification documents for verification of the individual.

Settlement of insurance claim:

After the patient has been discharged the insurance provider here TATA AIG will settle the treatment charges and hospital amount directly with the network hospital.

Reimbursement TATA AIG health insurance claim:

The policyholder can also file for a reimbursement claim in case they are not able to reach a network hospital and settle all the out-of-pocket expenses. The policyholder can follow the below steps to claim reimbursement TATA AIG health insurance claim:

Pay the required hospital charges and treatment costs:

The policyholder needs to settle all the required charges and treatment costs for the period they have been hospitalized and received treatment for their disease or health issues.

Inform the health insurance provider:

The policyholder needs to inform the TATA AIG insurance claim department or TPA and request reimbursement for the charges and treatment cost.

Submit the required documents:

The policyholder needs to submit all the required documents for verification of the charges and cost of hospital treatments.

Wait for the completion of claim verification:

TATA AIG will verify all the documents and charges incurred by the policyholder. After completion of verification the policyholder will be informed of the same and the settlement will be issued.

Settlement of insurance claim:

TATA AIG will settle all the incurred charges and out-of-pocket expenses by the policyholder within 7-9 days of claim filing.

Documents Required for Filing TATA AIG Health Insurance Claim:

The following are the various documents that you might need to must for ensuring the on-time settlement of your TATA health insurance claim:

  • Filled and signed claim form.
  • Original health insurance policy copy.
  • Certified medical notes by the consulting physicians.
  • Test reports such as X-ray, MRI, pathology, etc.
  • Hospital discharge letter.
  • Hospital charges and treatment bill receipts.
  • FIR copy in case of accidental claims.
  • Account details of the policyholder if required.
  • CKYC form filled and signed in case of claim settlement above 1 lakh.
  • Certificate of disability if any.

TATA AIG Health Insurance Claim Settlement Ratio:

Period of claim settlement

Claim Settlement Ratio

Less than 3 months

93.55%

3-6 months

3.97%

6 months to less than 1 year

1.9%

1 year to less than 3 years

0.45%

3 years to less than 5 years

0.07%

5 years

0.06%

 

The above can vary on market trends and TATA AIG policies. It is always recommended to do your research and choose a health insurance plan with a good claim settlement ratio.

Conclusion:

TATA AIG has been known to be one of the top insurance providers that helps all its customers stay protected in case of any unforeseen and unfortunate health emergency with a claim settlement ratio over 85%. TATA AIG also offers its policyholders user-friendly and fast resolution of their requests and queries with its customer support active 24/7. Now get comprehensive health insurance coverage for yourself and your loved ones in just a few steps online from Quickinsure at your convenience.

FAQs:

How can I contact TATA AIG to file an insurance claim request?

You can contact TATA AIG directly on the toll-free helpline number or through their official website.

Which type of insurance claim settlement is recommended?

It is always recommended to get a cashless insurance claim to avoid any extra paperwork and hassle of filing for a claim separately.

Who are the top competitors of TATA AIG health insurance company?

  • Top competitors of TATA AIG health insurance include:
    • Aditya Birla health insurance.
    • HDFC Ergo health insurance.
    • United India health insurance.
    • Niva Bupa health insurance.

What is the minimum required claim settlement ratio for insurance providers?

  • It is required by IRDAI to have a minimum claim settlement ratio of 85% to be called a good health insurance provider.
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