Cholamandalam MS General Insurance Company Ltd

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Cholamandalam MS General Insurance Company India Limited (Chola MS) is a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan.

In the true spirit of our partnership with Oriental Bank of Commerce, Chola MS is happy to bring together a whole new range of general insurance policies that are exclusively crafted to cater to the needs of the esteemed customers of Oriental Bank of Commerce.

These specialized offerings would provide special benefits to the bank’s valued customers. This is our way of showing how much we value the bank and your customers.

Our customized suite of products includes the following:-

  • Group Health Insurance
  • Group Personal Accident Insurance
  • Long Term Dwelling Insurance
  • Package Policies
  • Motor Insurance
  • Group Health Insurance

    Cholamandalam MS General Insurance Company Ltd

    our corporate partner for General Insurance, offers one of the most comprehensive health insurance plans in 2 variants Arogya (covering self, spouse and 3 dependent children) and Arogya Plus (covering self, spouse and 3 dependent children and 2 dependent parents) with a floater sum insured of ` 3 Lac, ` 5 Lac, ` 7.5 Lac and ` 10 Lac to cater to the needs of esteemed customers of Oriental Bank of Commerce. The Product is designed exclusively for the A/c Holders of OBC and is available in all OBC Branches across the country.



    Sum Insured Options Rs. 3 Lac, 5 Lac, 7.5 Lac and 10 Lac
    Policy Tenure 1 year
    Who can be covered Self, Spouse, Parents, 3 Dependent Children
    Pre acceptance medical check up Not Required
    Age Criterion
    Minimum Entry – Self and Spouse 18 yrs
    Minimum Entry – Children 90 days
    Maximum Entry Age – Self, Spouse & Parents 70 years
    Maximum Entry – Dependent Children 26 years
    Renewal Age Lifelong

    What are the benefits offered?

    Benefits Offered
    Pre-Hospitalization 60 days
    Post-Hospitalization 90 days
    Room Rent Standard Single Occupancy AC room
    Maternity Cover Normal & Caesarean : up to Rs.20,000/- per child
    AYUSH treatment (Ayurveda, Yoga, Unani, Siddha and Homeopathy) except naturopathy Inpatient Hospitalization upto Sum Insured (Only Government hospitals)
    Domiciliary Hospitalization Cover Upto 20% of Sum Insured
    Ambulance Rs.2500/- per hospitalization
    Day Care Procedures 141 named procedures
    Health Check-up benefit Reimbursement upto Rs.2,000/- per family , once in every two continuous claim free years
    Accompanying person food expenses Rs. 500 per day of hospital stay for an admitted claim
    Grace Period for Renewal Within 30 days from Risk End Date
    Cashless Facility Provided at network hospitals
    Waiting period
    30 days for sickness/ illness. Nil for accidents Yes
    Pre-existing diseases Covered after continuous coverage of 24 months with Chola MS
    Waiting period for specified list of illness 12 months
    Maternity expenses cover 9 months
    * Parents can be insured only in “Arogya Plus” policy
    Premium in Rs. (Including GST):
    Plan / Sum Insured (Family Floater) Age Band Rs. 3 Lacs Rs. 5 Lacs Rs. 7.5 Lacs Rs.10 Lacs
    Arogya 18-45 46-60 61-70 7,866 7,866 7,866 9,911 11,012 14,316 12,389 13,766 17,895 15,487 17,207 22,369
    Arogya Plus 18-45 46-60 61-70 11,799 11,799 11,799 16,637 21,239 23,126 20,796 26,548 28,908 25,995 33,186 36,134

    Mandatory Disclosure for distribution of insurance Products, as per RBI's Directives.

    • Insurance is a subject matter of solicitation and the Policy is issued, based on contract between the Insured and Insurer
    • Participation by customers is on voluntary basis.
    • The contract will be between Insured & Insurer and not between Insured & the Bank.
  • Group Personal Accident Insurance

    Chola Group Personal Accident Insurance Policy

    Our exclusive Group Personal Accident Insurance policy for the privileged customers of Oriental Bank of Commerce is available in 3 variants (Acci-Smart, Acci-Superior and Acci- Supreme) and is perfect in all respects to protect you and your better half from the risk of accidents and anxiety that comes along with an accident.


    Who can take this plan?

    Plan Name Sakushal Saral Sakushal Uttam Sakushal Sarvm
    Who can be Covered? Self Self & Spouse
    Sum Insured ₹ 5,00,000 ₹ 10,00,000 Self ₹ 5,00,000
    Spouse ₹ 2,50,000
    Policy Tenure One Year
    Age Criterion
    Minimum Entry Age 18 Years
    Maximum Entry Age 70 Years
    Renewal Age Lifelong

    What are the benefits offered?

    Benefits Offered
    Basic Cover – Accidental Death Benefit 100% of Sum Insured
    Basic Cover – Accidental Permanent Total Disability Benefit 100% of Sum Insured
    Basic Cover – Accidental Permanent Partial Disability Benefit Sakushal Saral Sakushal Uttam Sakushal Sarvm
    50% of SI 25% of SI 50% of SI
    Accidental Medical Expenses Cover – ( For Self Only) Up to ₹ 50,000/-
    Education Benefit Cover (For Self Only) Up to ₹ 25,000/-
    Ambulance Charges Up to ₹ 1000 per policy period
    Cost of Transporting Mortal Remains Up to ₹ 6,000/-
    Cremation Expenses Up to ₹ 5,000/-
    Terrorism Covered
  • Long Term Dwelling Insurance

    Chola Property Insurance

    Fire Insurance

    It is an insurance covering financial loss following damage to the property by fire and other specified named perils. Building and contents – machinery, stock, furniture, fixtures, fittings, office equipment, property held in trust if specifically declared at specified locations can be covered in this insurance. The property may be of an individual or entity. Insurance cover can be provided for dwellings, shops, offices, industrial risks & other manufacturing / commercial establishments.


    Coverage is offered against losses due to the following perils:-

    • Fire
    • Lightning
    • Explosion/ Implosion
    • Aircraft Damage
    • Riot Strike & Malicious damage (also called RSMD clause)
    • Impact Damage by any rail/ road vehicle or animal, other than owned vehicle/ animal
    • Missile testing operations
    • Bush fire
    • Subsidence & landslide including rockslide etc.
    • Bursting &/ or overflowing of water tanks, apparatus & pipes
    • Leakage from automatic sprinkler installations
    • On payment of additional premium coverage can be provided for the following:-
      • Earthquake fire & shock
      • Storm, cyclone, typhoon, hurricane, tornado, flood & inundation
      • Terrorism

    The Chola MS Advantage:-

    • A simple rater for instant premium calculations available at the bank branches.
    • Instant quote is generated for all the proposals up to sum insured of 5 crores once the basic information (occupancy, risk location, and the sum insured) is entered.
    • Instant proposal form is auto generated when premium rater is completed and can be printed and signed by customer immediately
    • Fire insurance covers all the 14 perils indicated earlier (including the 3 on payment of additional premium).
    • Cover for burglary is optionally provided alongwith fire, when fire insurance covers for contents are opted.
    • For customer’s / bank’s convenience, a single premium rate based on concept of ‘one risk – one rate’ is applicable for all properties in an industrial / manufacturing complex.

    Long term insurance for dwellings

    • Fire insurance is normally an annual insurance policy renewable every year. A long term policy can be issued for a period not less than 3 years to insure a premises used as dwellings (residence).
    • The maximum period of such insurance shall be 25 years at any one time or till property insured reaches 50 years of age, whichever is earlier.
    • The full premium for entire period is collected at inception and a discount in premium is given for such a long term insurance.
  • Package Policies

    Chola Package Policies

    Package insurance policies combine multiple insurance products as sections and cover in one insurance. There are separate package insurance policies for offices, shops and enterprises. The salient features of Chola’s Package Policies are as follows:-

    • Comprehensive, convenient, one stop insurance solution.
    • Under-insurance up to 15% allowed
    • Unique package of covers bundled into a single offering

    What is covered?

    S.No. Coverage Shop Office Enterprise
    1. Fire- Building Structure** (excl. Plinth & Foundation) Yes Yes Tes
    2. Fire- Contents Yes Yes Tes
    3. Burglary & house breaking Yes Yes Tes
    4. Money insurance Yes Yes Tes
    5. All Risks No Yes Tes
    6. Machinery breakdown No No Tes
    7. Electronic equipment (including laptops) Yes Yes Tes
    8. Fixed Plate glass Yes Yes Tes
    9. Neon sign / Glow sign Yes Yes Tes

    The Chola MS Advantage:-

    • A simple rater for instant premium calculations available at the bank branches.
    • Risks categorized in 3 segments like Enterprise Package, Shop Package and Office Package
    • Instant quote is generated for all the proposals up to sum insured of ₹ 5 crores once the basic information (occupancy, risk location, and sum insured) is entered.
    • Instant proposal form is auto generated when premium rater is completed and can be printed and signed by customer immediately.
    • Cover is provided for loss of money relating to business / profession.
    • The unified premium calculator allows sum insured in each of the sections of package policy as follows:-
    Fire Section Maximum Sum Insured – ₹ 5 crores
    Other sections Sum Insured (in ₹ )
    Minimum Maximum
    Burglary section sum insured Burglary SI is auto populated excluding the building
    Money section 50,000 2,00,000
    All risk section 50,000 10,00,000
    Machinery breakdown section 50,000 10,00,000
    Electronic equipment section 50,000 10,00,000
    Plate glass section 50,000 2,00,000
    Neon sign / glow sign board section 50,000 2,00,000
  • Motor Insurance

    Chola Motor Insurance

    Insurance of motor vehicles plying on road is mandatory under the Motor Vehicles Act. All kinds of vehicles – private cars, goods carrying commercial vehicles, taxies & other passenger carrying commercial vehicles, tractors & other miscellaneous classes of vehicles can be insured under the motor insurance product.


    What is covered?

    Motor Insurance covers the unforeseen risks which may result in:-

    • Creation of Liabilities (called generically as Third Party Cover)
      • Injuries/ Death of persons outside or inside a vehicle. This could be the owner, passengers, driver, pedestrians etc.
      • Damage to property of others- also called as Third Party Property Damage
    • Financial losses
      • Partial damage to the vehicle itself. This may arise due to an accident or external means like riot, strike, malicious act, fire, flood, cyclone etc.
      • Theft of parts or theft of the vehicle itself
      • Total loss/ damage of the vehicle

    The Chola MS Advantage:-

    • Comprehensive insurance cover for all vehicle classes
    • Cashless facility at over 5000+ garages
    • ISO certified Company for claims settlement
    • Loss Assessment primarily by our own employees- In house assessors
    • Bumper to bumper cover- Nil Depreciation cover at an affordable premium
    • Consumables cost covered at an affordable premium
    • Special roadside assistance service option provided
    • Seamless transfer of the ‘No claim discount’ benefit

    STATUTORY WARNING Section 41 of Insurance Act, 1938 – Prohibition of Rebates: (1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer:

    Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub- section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.

    (2). Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees.


    Insurance is the subject matter of the Solicitation

  • Mandatory Disclosures
    Mandatory Disclosure for distribution of general insurance Products, as per RBI's Directives. Download Download
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