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Cholamandalam MS General Insurance

Cholamandalam MS General Insurance, now known as Chola MS General Insurance, comes with the trust and reliability of Murugappa Group Company. Chola MS product portfolio consists of a wide range of products like Car, Bike, Health, Travel, Accident, Property, Marine, Engineering, Liability, Crop, and so on for both individuals and corporates.

Presence in over 90 centers PAN-India and an agent network that is 7000 strong.

Chola MS follows a T3 brand philosophy, T3 stands for Trust, Transparency, and Technology. Chola MS currently has over 34,000 agents across the country and 87 branches. The company achieved a Gross Written Premium (GWP) of INR 41,026 million in 2018.

Vision and Mission of Cholamandalam MS General Insurance

The vision and mission of the company are-

  • Vision: To be the most respected company amongst General Insurers in India for our value creation to customers and shareholders.

  • Mission: To bring peace of mind to our clients by protecting them from financial risks.

Health Insurance Plans in November 2024

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Amount Covered: ₹ 1 Lakh
Deal Price: ₹ 2,094 / Year
Waiting period: 4 yrs

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Cholamandalam MS General Insurance Company Finances

Collating all businesses together, Murugappa group recently registered a hike of Rs. 29,270 crores, which turns out to be 9.44% of the total revenue generated in FY 14-15, based on the company’s statement. In the following year (15-16), Murugappa group also had a one-time earning of Rs. 883 crores from an earlier 14% stake sale in the general insurance arm- Cholamandalam MS General Insurance.

Cholamandalam MS General Insurance Company offers

The Company is proud to offer a variety of insurance plans that are spread across the entire insurance arena and cater to individual needs of the consumers. They can be classified as:

  • Chola MS Health insurance plans

  • Chola MS Comprehensive Car insurance plans

  • Chola MS Commercial Vehicle insurance plans

  • Chola MS Personal Accident plans

  • Chola MS Travel Insurance plans

  • Chola MS Home insurance plans

  • Chola MS Fire insurance plans

  • Chola MS Engineering projects insurance plans

  • Chola MS Engineering operations insurance plans

  • Chola MS Property Crime insurance plans

  • Chola MS Marine insurance plans

  • Chola MS Liability insurance plans

Claims Ratio in Percentage for Financial Year 2018-19:

  • Motor: 84%
  • Health: 35%
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Cholamandalam MS General Insurance Company Products and Services

Cholamandalam MS Health insurance plans

Chola MS offers various health insurance plans that cover you against different kinds of illness and injuries. Some special benefits offered by the company for the ones investing in a health insurance plans are-

  • Double coverage for accidents and critical illness on selected health plans (on selected health Plans)

  • Cover for Domiciliary hospitalization

  • Lifetime coverage

  • Cashless hospitalization at 6500+ hospitals across India

  • Cover for 140+ Day-care procedures

  • Pre and post hospitalization expenses

  • 20 main critical illnesses covered (on selected health plans)

  • Unlimited room rent (on selected health plans)

  • Lifetime renewal

  • Tax benefit under section 80(D)

  • 24x7 claim assistance and easy claim settlement

Some of their comprehensive health insurance plans are-

  • Chola Healthline: Chola Healthline is a unique health Insurance policy which provides coverage for medical expenses for families on a floating sum insured basis. This plan covers self, spouse and dependent children or on individual sum insured basis covering self, spouse, dependent children, dependent parents, parents-in-law and siblings. This health insurance policy provides claim benefits on a cashless or reimbursement basis as applicable.

  • Chola Swasth Parivar: This is a cost-effective health insurance plan with flexible coverage options that meet your family's healthcare needs. Apart from covering hospitalization charges, the policy also offers a personal accident cover, ensuring dual protection for you and your family at economic premiums.

  • Chola Tax Plus Healthline: Chola Tax Plus Healthline Insurance Policy offers medical insurance coverage for both hospitalisation and non-hospitalisation (including OPD) expenses. This plan can be issued for individuals and families on floater sum insured basis. The policy comes with fixed premium options.

  • Chola MS Family Healthline Insurance: Chola MS Family Healthline Insurance is a health insurance policy suitable for families covering both allopathy and ayurvedic treatments. This is a floater plan that lets you include your family members – Spouse and Children under a single policy allowing any named family member to claim up to the full Sum Insured. This health insurance plan covers maternity expenses, OP dental treatments, external aids – spectacles, contact lens and hearing aids, minor accompaniment cash in addition to hospitalization expenses.

  • Individual Healthline Insurance: Individual Healthline insurance a comprehensive health insurance product that not only offers coverage for hospitalization expenses, but also for other incidental expenses associated with hospitalization. This plan also covers maternity related expenses, external aids such as specs, contact lens, and hearing Aids. Individual Healthline also covers general health / eye check-up once every two continuous claim free years.

  • Chola Super Topup Insurance: Chola Super Topup Insurance is a top up plan that covers for higher medical expenses for families on the basis of floating sum insured or individual sum insured. This policy pays up to the Sum insured in excess of deductible in respect of medically necessary costs.

  • Chola MS Critical Healthline Insurance: Chola MS Critical Healthline Insurance provides a lump sum if diagnosed with any of the listed illness without any hospitalization bill to help manage critical illness expenses, and any other financial commitments, comfortably. This plan provides a fixed sum insured for listed critical illnesses and offers a tax exemption of upto Rs. 25,000 under section 80D of IT Act.

  • Chola Hospital Cash Healthline: This policy offers fixed daily allowance for every completed 24 hours of hospitalisation, thereby taking care of all miscellaneous expenses during hospitalisation. In case the patient is admitted in the ICU, the daily cash benefit stands doubled for the stipulated number of days.

Cholamandalam MS Comprehensive Car insurance plans

Chola MS offers car insurance that is designed to cater the needs of all car owners.

  • Chola Protect: Chola Protect is a one-of-its-kind Car insurance plan that is designed to provide complete protection to your car so that you can steer ahead into a secure future. This 360 ° motor protection policy has a number of benefits including total financial coverage, car emergency assistance car breakdown assistance etc. so that you don’t have to worry about a thing.

Cholamandalam also provides two-wheeler insurance covering loss or damage that may happen to your two-wheeler. This policy also covers any third-party loss or damage caused by the insured vehicle.

Cholamandalam MS Commercial Vehicle Insurance plans

The Company also provides insurance for commercial vehicles. The vehicles covered under this policy include:

  • Passenger Carrying Commercial Vehicles: School Buses, vans, taxis, etc.

  • Goods carrying Commercial Vehicles: Trucks, mini trucks, etc.

  • Miscellaneous Vehicles: Excavation, Cranes, Loader, etc. and

  • Tractors

Here are some top reasons why you must invest in Chola MS commercial insurance plan

  • Double benefits with a single policy: This comprehensive policy offers both "Third Party Cover" and "Own Damage Cover"

  • Discount on premium: Enjoy the "no claim bonus" discount for claim-free policy years.

Cholamandalam MS Personal Accident plans

Accidents can happen anytime and cause major injuries, or sometimes, even death. Hence, it’s always wise to be prepared for such unforeseen situations and invest in a personal accident plan that covers the expenses of these disastrous situations. Chola MS provides one such comprehensive personal accident plan called the Chola Accident Protection Policy.

  • Chola Accident Protection is a personal accident insurance policy that provides compensation for injuries such as accidents. In unfortunate situations, where the policyholder faces permanent disability, reimbursements are offered for modifications that might be required for the home or vehicle. Individuals or family members also become eligible for weekly compensation in case of loss of income caused by disability or death due to an accident. Family transportation costs are also covered for in this plan. In case the policyholder is a student, he or she can be reimbursed for tuition fees following an accidental injury. Also, in case of accidents, a daily allowance for hospitalization is provided for.
Cholamandalam MS Home Insurance Plans

Only a few companies provide protection for your humble abode against theft, burglary and natural disasters. Chola MS is one such firm that covers damages caused from these situations. The home insurance plan covers against fire and other perils and burglary and house breaking under this policy. You can buy home insurance from Chola Ms online and there is standard coverage provided for protection against explosion or fire, attempted burglary, damage due to natural disasters, theft etc.

Cholamandalam MS Travel Insurance Plans

Whether you’re travelling overseas or within the country, you must always have travel insurance in place, so as to protect yourself from all unforeseen situations. Chola MS is known for its comprehensive travel insurance plans. They are-

  • Domestic Travel Insurance Policy: Domestic travel insurance plan ensures that you are covered for medical emergencies, checked-in lost/stolen baggage, travel delays, permanent disability and death and personal liability.

  • Overseas Travel Protection Plan: This policy offers comprehensive coverage in case of medical expenses overseas, baggage loss and travel delays, and repatriations/evacuation to India, hijack and loss of travel documents/passport.

  • Student Travel Protection Plan: Student Insurance policy covers expenses incurred for medical treatment, study interruptions and passport loss.

Cholamandalam MS Fire Insurance Plans

Chola Ms is one of the few general insurance companies that also provides for fire insurance to ensure coverage of your business against damages arising from various firer and fire related perils. The different insurance plans under this category are-

  • Industrial All Risk: Chola MS Industrial All Risks Insurance Policy covers Industrial units (excluding Petrochemical Risks) having Sum Insured of Rs. 100 crores and above. This covers risks of industrial units located in one or more locations in India.

  • Loss of Profits: This policy is devised to cover the likely monetary loss occurring from break in business activity that may arise due to physical loss of property by an event covered for insurance.

  • Fire and Special Perils: This policy specifically covers business damages arising out of fire and special perils only. The policy does not include natural perils or damages caused to consequential losses.

Cholamandalam MS Engineering projects insurance plans

In case you wish to expand your business, it is important that you are covered of all risks associated with building and development. Chola MS offers comprehensive insurance plans for engineering plans that protect you against such risks. These plans are-

  • Contractors all risk policy: This policy is a unique policy as it covers the interest of civil contractors and Firms / Principals involved in construction activity, against the damage or destruction of various civil engineering projects undertaken by them. The policy is suitable for all types of civil engineering construction work.

  • **Erection all risk policy: This policy covers all kinds of risks associated with erection of installation related to engineering works. just like Contractors All Risk policy, this The policy is also suitable for all types of civil engineering construction work ranging from small buildings to massive dams.

Cholamandalam MS Engineering operations insurance plans

With time, each businessman wishes to expand his business. With the Chola MS Engineering Operations insurance one can get wide coverage for electronic equipment, loss or damage to boilers, and restoration of machinery etc. This ensures smooth running of your business minus the financial vexation. Engineering operations insurance plans from Chola MS cover-

  • Electronic equipment

  • Machinery breakdown and

  • Boilers

Cholamandalam MS Property Crime insurance plans

Once you’ve created your property, you surely want to protect it from all possible damages. Hence, Chola MS offers Property Crime insurance. This policy offers protection to an individual or business from damages or loss of property cause due to some type of crime. This policy covers losses that are incurred due to the theft of physical property, loss of money while in transit or safe custody, losses incurred due to fraud/dishonest actions by the employees of an organisation.

Cholamandalam MS Marine Insurance plans

While your cargo is in transit, you surely would worry about it. Hence, Chola MS has come up with unique marine insurance plans that protect against all damages caused to your cargo transferred through the medium of ships and boats. These insurance plans include-

  • Inland Cargo

  • Import Cargo

  • Export Cargo

Cholamandalam MS Liability insurance plans

Every business, big or small is always subject to some risks. Hence, Chola MS has introduced liability insurance plans that protect you and your business against the risk of becoming legally liable to pay damages to third parties due to various legal implications.

Premium Payment process of Cholamandalam MS General Insurance

Online Payment process

Cholamandalam provides an online platform through which you can buy, renew and pay the premium of your insurance policy. You can simply login to the website, and pay your premium through various payment options such as via debit/credit card or net banking. The insurance provider also has an app through which premium payments can be processed.

Offline payment process

In case you wish to pay the premium in person, you can simply visit any branch of Cholamandalam General insurance and make your payment. All you need to do is carry your policy document with you and an executive should be able to assist you with the process.

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Cholamandalam MS General Insurance Renewal

  • Online Renewal Process at Cholamandalam MS General Insurance Company: Chola MS offers a quick renewal policy on the official website. A policyholder simply has to go to the official Cholamandalam website, create a unique user id and password, and get his insurance policy renewed before the policy expires.

  • Renew insurance plans provided by other insurers with Cholamandalam MS General Insurance: Chola Ms lets policyholders renew insurance plans provided by other insurers on their platforms with a hasslefree online procedure. They simply have to follow the same procedure as a quick renewal and then can get their insurance policy of any kind renewed instantly. all they have to remember that they need to get their policy renewed before the date of expiration.

Awards & Recognitions of Cholamandalam MS General Insurance

Cholamandalam has received several awards for its outstanding customer service and exemplary performance in the insurance space. Some of these awards are

  • Best Insurance Company Award across Asia for “Health Insurer Claim Team for the year 2013” at the Claims Asia Awards 2013, hosted in Hong Kong

  • “Innovation Leader Award 2012” by Fintelekt

  • Best insurance company title for “In time claims settlement for the year 2011-12” in Rashtriya Swasthya Bima Yojana scheme run by the Ministry of Labour and Employment, Government of India

  • “Financial Insights Innovation Award” for innovation in mobile enablement by Claims survey process in Asian Insurance Congress held in Singapore

FAQs

Are Zero-Depreciation Insurance Policies Worth it?

Yes, zero depreciation insurance policies are more desirable. Under these policies the car owner would typically have their entire claim amount paid-off/reimbursed which is clearly a more convenient way to claim under a comprehensive insurance cover.

Why Choose Health Insurance by Cholamandalam MS?

Cholamandalam is known for its outstanding customer service and hence provides various health insurance plans that suit the needs of individual investors. The company provides health insurance plans that are more comprehensive as compared to other insurers are unique in their own kind to cater to specific needs of a policyholder.

What a Comprehensive Student Travel Insurance Covers?

A comprehensive student travel insurance plan covers expenses incurred for medical treatment, study interruptions and passport loss.

What are the benefits of having a Cholamandalam Car insurance?

There are several benefits of investing in Cholamandalam car insurance policy. The purchase of a new car insurance and renewal process is hasslefree, and can be done online por through the Chola MS app. The company offers comprehensive car insurance plans and several add on covers that work in the benefit of car owners. Moreover, a customer of Chola MS car insurance may be entitled to No-claim bonus in case they have a series of claim free years.

What Kind of policies are available online with Cholamandalam MS General Insurance Company Limited?

There are various kinds of insurance policies available with Cholamandalam MS General Insurance. They can be classified as-

  • Chola MS Health insurance plans

  • Chola MS Comprehensive Car insurance plans

  • Chola MS Commercial Vehicle insurance plans

  • Chola MS Personal Accident plans

  • Chola MS Travel Insurance plans

  • Chola MS Home insurance plans

  • Chola MS Fire insurance plans

  • Chola MS Engineering projects insurance plans

  • Chola MS Engineering operations insurance plans

  • Chola MS Property Crime insurance plans

  • Chola MS Marine insurance plans

  • Chola MS Liability insurance plans

Customer Reviews
Average Customer Rating:
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HB Manjunath
Excelent service
Excelent service
04 Feb 2022
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