One of the biggest and less known advantage of holding American Express Credit Card in India is their Insurance benefit. I’ve been availing their Car Insurance benefit for past 3 years and have saved over 30% on premium compared to the regular rate in the market (update: now moved to Acko).
But I’ve never checked their health insurance offers in the past as I was quite ignorant about it. When I recently checked their Insurance offer, I was surprised that I’ve been missing out on this for years. If you’re new to Amex Health Insurance, here’s everything you need to know.
Health Insurance Plans
Amex has multiple customised health insurance plans with wellness benefits from different providers – covers ranging from 5L to 1Cr based on the needs of its cardholders.
The smaller/individual covers upto 10L are provided by ICICI Lombard, while the high/family covers are provided by Bharti AXA. The insurance providers may keep changing from time to time.
Among the available two, I see the ICICI Lombard offer to be very attractive (for my needs) and that’s what I opted for.
While the similar insurance plan is also available with ICICI Lombard, there are certain advantages if you go through Amex.
- OPD Benefit (consultations, medicines, lab tests)
- Dedicated Helpline
- Priority claims processing
- No TPA
- Note: Covid-19 Hospitalisation expenses are covered as well
The most important benefit according to me is the OPD benefit which is very rare to find in the market.
Caution: Gym, Yoga, spectacles & Dental treatments are no longer covered under OPD benefit.
However, Lab tests are very much covered. So Ideally you could use it for reimbursement of doctor consultations & annual blood test reports.
How to get it?
- Email: insuranceservices [at] aexp.com
- SMS: HLT to 5616166
- Call: 0124-4405500 (Monday to Saturday) 9:30 am to 6:30 pm
To get the Amex Health Insurance Policy, all you need to do is call the Amex Insurance line. They’ll do the formalities and charge the card directly in ~2 days.
The process is usually quick and you get the documents both soft copy & hard copy within 10 days. This is all done online via direct Amex online sourcing.
Apart from this, Amex also started selling health insurance via offline medium (especially during pandemic) and surprisingly the premium might vary a bit from online vs offline quotes (as I saw that with car insurance).
So I think its better to go with online quote as that’s what I see as lowest.
So I went for the 10L Cover that costs me ~Rs.14,700 p.a. (varies with age) with Rs.10,000 OPD benefit. Now that’s like paying Rs.4,700 for 10L cover. But after covid it has now changed to 17,000 INR.
If you fall under higher income tax slab the savinfs under tax deduction would be significant.
The ICICI Lombard Health Care card is bit simple and feels cheap. I wish it looks more premium. Yup, first world problems 😀
I’ve been ignoring health insurance for long time and finally I’m happy to find a plan that fits my needs. While I no longer find it lucrative as before, it’s still the best if you’re looking for OPD.
And going through American Express usually gives the peace of mind.
These plans are limited to American Express Primary Cardholder & his/her family. Just incase if you are not in the Amex ecosystem yet, here are some of cards worth applying,
Do you have Health insurance from Amex or from any other providers? Feel free to share your experiences in the comments below.