Acko General Insurance 
Claim Settlement Ratio 95.50%
Renewability 100%
Claim Settlement Facility 100%
COVID-19 Cover Yes
Network Hospitals 7100
Incurred Claim Ratio 24%
Waiting period is the time the insured has to wait before making a claim under the health insurance policy for certain illnesses or diseases. There are different types of waiting periods under a health insurance policy such as pre-existing waiting period, specific illness waiting period, initial waiting period, maternity waiting period etc. Acko health insurance covers the medical expenses incurred due to an existing disease from day 1 without any waiting period. This facility is available under the Rs.1 Crore sum insured plan and the condition is that the insured must declare the pre-existing conditions in the proposal form at the time of purchasing the policy.
There are many things which are considered by the insurance company at the time of claim settlement such as co-pay, room rent capping, deductibles, non-payable expenses etc. which would be paid under the Acko health insurance policy. Acko health insurance policy doesn't have any room rent capping which means that the customers can select any room up to the sum insured under the policy. The health insurance plan also does not consider the deductibles, non-payable expenses etc at the time of claim payment resulting in zero deduction in claim payments. With nAcko health insurance plans customers can get the full claim amount without any deductions.
Copay is the amount of claim that has to be borne by the insured customer at the time of claim settlement. Copayment would result in reduction of premium for the customer but increases the responsibility of the insured at the time of claim settlement. Acko health insurance doesn't have any copay in its health insurance policy which means that there would not be any deduction in the claims paid to the customers.
Acko health insurance has introduced the teleconsultation to its customers. Under this the customers can call the empanelled doctors anytime and avail teleconsultation services. The teleconsultation gained traction during the covid period where people preferred to consult the doctor online instead of visiting online. Acko health insurance plan provides for the teleconsultations up to the number of times mentioned in the policy. The cost of teleconsultation would be covered by the acko health insurance policy.
The room rent is an important part of the hospital bill, if an insured person opts for a higher room category then the claim amount would be reduced proportionately by certain health insurance plans. This is not the case with Acko health insurance plans as the room rent waiver option is available under the plan. Insured customers can choose any room under the Acko health insurance plan at the time of treatment.
