Chola Health Insurance; 10 Best Services

Your family of up to seven members is covered at a reasonable cost by Chola health insurance. Maternity costs can be reimbursed for all moms. Purchase a group health insurance policy from Bank of Baroda to provide health insurance for the entire family.

A joint venture between the Japanese insurance business Mitsui Sumitomo Insurance Group and the Indian conglomerate Murugappa Group, Chola health Insurance business Ltd. (Chola MS) provides insurance services.

Services of Chola Health Insurance

1.      Aadhaar Seva Kendra

Aadhaar enrollment and updating facilities have been launched by Bank of Baroda at its authorized branches throughout India. In order to enroll in and update their Aadhaar, residents can visit these branches. Use these Aadhaar services effortlessly:

• new Aadhaar registration
• Update your Aadhaar Card with your new name, gender, date of birth, family details, address, photo, biometric, mobile number, and email.
• Locate and print your Aadhaar biometric update, which is required for kids between the ages of five and fifteen.

2.      Collection Services

The ability to collect checks, demand drafts, interest warrants, dividend warrants, refund orders, clean bills, and documentary bills from clients and various centres is available at all Bank of Baroda branches. All checks and other instruments are deposited into appropriately opened accounts and made available for pickup the day after the customers’ payment or the next business day.

·         Time Bound Collection

When it comes to collecting and sending checks and other documents, all Bank of Baroda offices operate promptly. at metropolitan areas, revenues from the presentation of financial instruments at a branch are credited to the customer’s account the same day the next week. The money is only credited after 10 days for state capitals, which also include centres with more than 100 branches.

Interest at 2% annual above savings bank rate is paid on these instruments if they are not collected within 14 days after the deposit; the consumer does not need to claim the interest. Instead, it is deposited to their account.
Branches also take requests for the retrieval of foreign currency notes, lottery winnings, prize money, loan certificates, and FDRs issued by joint stock corporations. The financial institution

·         BOB Quick

Within a 7-day guarantee, the customer’s account will receive the monies collected in this offering. greater collection services, which open up new revenue streams and guarantee greater financial investments, are ensured by Bank of Baroda’s BOB Quick.

Cheques drawn on specific banks with a value of Rs. 25,000 or more are all eligible for “Quick inter station clearing”. The courier prices are Rs. 50 each packet, plus a little but extra collecting fee.Special Facilities for National Clearing .The Reserve Bank of India is launching this product to facilitate intercity cheque.

·         Key Benefits

• Transactions are settled using the instruments’ net values.
• Since mechanised cheque processing was introduced, all financial instruments are cleared quickly thanks to MICR technology. The idea of clearing has been expanded to include clearing checks for travel expenses.
• Some other centres have also been designated for “One Way National Clearing” in addition to the four major areas. Among these sites are Vellore, Baroda, Erode, Madurai, Pondicherry, Trichy, Trivandrum, Hyderabad, Bangalore, Nagpur, Ahmedabad, and more.
• Please get in touch with the Bank of Baroda branch that is closest to you for further information.

3.      ECS

Through the use of a special method, Bank of Baroda assists organisations and businesses who are paying large sums of money to beneficiaries like investors, shareholders, and account holders by transferring those funds straight into their bank accounts.

·         Key Benefits

The following advantages are available to corporate entities that make regular, sizable volume payments to a set group of investors or beneficiaries:

• Administrative expenses now saved by printing paper instruments in MICR format and sending them via registered mail.
• Removal of fraudulent encashment resulting from instrument loss during transit.
• Transactions are automatically reconciled. Once the ECS cycle is over, the user institution receives an electronic data file from its bank that includes the payment date and the banker’s confirmation.
• When arrangements for funds are limited to being made on the designated day, cash management becomes simpler.
• Guarantees improved investor and customer service.
• In keeping with global best practices for businesses that pay their investors, owners, and clients.

·         Terms & Conditions

• Payments for salaries and pensions are typically made using it (with a minimum of 2500 payments and a maximum of 1 lakh for each payment).
• This service is offered in sixteen locations. The advantages of this approach will soon be available to a total of thirty centres.
• Twenty additional corporate entities are prepared to introduce the same technology, which is now being used by over fifty government agencies and corporate bodies for bulk and recurring payments.
• A very “concessional” service charge structure has been implemented in order to encourage the culture of electronic banking.
• Currently, the clearinghouse would get payment from the sponsor bank for each instrument in the amount of Rs. 1.50, of which Rs. 0.50 would stay with the clearinghouse.

4.      Settlement with Death Claim

The bereaved family faces both financial and psychological challenges during this trying period. The swift handling of their claim petitions would provide consolation to the depositor’s surviving family members, nominee, or legal heirs. Bank of Baroda can and will help you with some of the connected processes with this unfortunate tragedy, even if we are unable to take away all of your sadness.

Temporal conventions:
After receiving a claim, the bank will, subject to the depositor’s proof of death and the claimant(s)’s satisfactory identification, settle claims pertaining to deceased depositors and release funds to the survivor(s) or nominee in the case of accounts with survivor(s) or nominee within a maximum of 15 days.

If there is no survivor or nominee clause in the account, the claim must be resolved within one month of the day the necessary paperwork is received. Please take notice that accurate and full information must be given in order for the claim to be processed quickly. If information is submitted fraudulently or incompletely, the claim may be denied.

5.      Pension Saarthi

A special website called Pension Saarthi was created for retirees of the Central and State governments, whose pensions are paid out by Bank of Baroda. Through this site, individuals may obtain Form 16, Pension Slip, and other documents at the comfort of their own home, as well as inquire about their pension payment and other facts like profile descriptions and others.

Additionally, they can file concerns pertaining to their pension and receive resolutions. You may examine the government’s circular on pension payments on the same website.

·         Benefits of Pension Saarthi

• Profile details
• Life certificate Submission
• Pension slip Download
• Form 16 download

6.      E-stamping

Bank of Baroda offers the ability to generate e-stamps through its 206 approved branches and is permitted to conduct e-stamping activity in 11 states. This method is safe for paying the State Government’s non-judicial stamp duty.

·         Benefits

• information preservation via electronic means
• Safe and dependable gathering
• Physical stamp paper is used in its stead to stop process-related fraud.
• Free from hassles and obstacles
• Get an e-Stamp certificate in a matter of minutes.
• A Unique Identification Number (UIN) is included with the certificate

FAQS

For whom is Chola Health Insurance appropriate?

The Chola health insurance plan is available to holders of Bank of Baroda accounts. There are several possibilities for the money insured, and the policy period is one year from the beginning date.

Is it possible for me to enroll my family in the company health insurance plan?

Dependents like as parents, spouses, and children (ages 3 to 26) may be covered by the Chola MS group health insurance policy under the family floater option. Dependents must be included when the insurance is being proposed, since midterm inclusion is not permitted for anybody other than recently married couples or newborns. Adults 18 to 70 years old and children 3 months to 26 years old are eligible for coverage.

What is the Chola Health Insurance claim procedure?

Claims must be handled either reimbursement-based or cashless:
Process without cash:
The network hospital list may be downloaded at www.cholainsurance.com.
Get pre-authorization 48 hours in advance of the scheduled admission or 72 hours in advance for emergencies.
Procedure for reimbursement:
For elective hospitalisations, please notify us by phone, email (customercare@cholams.murugappa.com), or letter prior to admission.
Tell us as soon as possible after admission, if it’s an emergency hospital stay, or before being released.
Within 30 days following discharge or the end of treatment, submit claim documentation, including the completed and signed claim form.

Is there a waiting time under Chola Health Insurance for pre-existing conditions?

Pre-existing conditions are subject to a 24-month waiting period under Chola Health Insurance.

Conclusion

In the event that the account does not contain a survivor or nominee clause, the claim needs to be settled within 30 days of the required documentation being received. Please be aware that in order for the claim to be handled promptly, complete and correct information must be provided. A fake or inadequate submission of information might result in the claim being rejected.

For those who have retired from the Central and State governments and whose pensions are distributed by Bank of Baroda, a unique website known as Pension Saarthi was developed. People can use this website to get Form 16, Pension Slip, and other papers from the convenience of their own homes. They can also ask questions regarding their pension payment and other details, such as profile descriptions.