What is the Oriental Hope Insurance Plan?

It is a flexible insurance plan offering coverage for medical expenses, accidents, critical illnesses, and alternative treatments.

Does the Oriental Hope Insurance Plan cover critical illnesses?

Yes, it covers illnesses such as cancer, kidney failure, and heart diseases.

What is the family floater option?

The family floater option allows multiple members to be covered under a single policy, making it cost-effective.

What tax benefits are available under this plan?

Policyholders can avail tax benefits under section 80D of the Income Tax Act.

Who is eligible for the Oriental Hope Insurance Plan?

Individuals aged 18-65 can apply, and children over 3 months can be covered if a parent holds the policy.

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Smart Financial Planning Through The Oriental Hope Insurance Plan

Alankar Mishra

Author

Updated: 09-04-2025 at 12:30 PM

Humans have innumerable goals and desires that they plan to achieve and one of those desires is security; the feeling of security and safety over their and their families' lives one of the ways of securing that feeling of safety is through availing of the Oriental Hope Insurance Plan.

The Oriental Hope Insurance Plan, offered by Oriental Insurance Company Ltd (OICL), one of the leading insurance companies in India was specifically designed to provide policyholders with an umbrella of security against the uncertainties of life.

Features & Benefits Of The Oriental Hope Insurance Plan

The Oriental Hope Insurance Plan is a flexible plan created to accommodate all of an individual’s needs and gives them control of their policies.

The policy’s coverage: The plan offers a wide range of services that one might require in emergencies such as taking care of expenses of pre and post-hospitalisation, care procedures, treatments, and surgeries, including alternative therapies like Ayurveda and Homeopathy.
Protection against sudden accidents: The plan also includes coverage against accidents and compensates for any sudden death or disability experienced by a policyholder. This aspect of the policy is crucial for those who work in high-risk environments or those who like to ensure the complete safety of their loved ones in cases of unforeseen circumstances.
Critical illness: The plan covers a range of serious illnesses such as cancer, kidney failure, heart diseases, and others. It is imperative to choose a policy that covers this as treatment of such illnesses is expensive and stressful.
Option of Family Floater: The plan offers a family floater option wherein it allows multiple people to be part of one policy. This option isn’t only cost-effective but easier to manage for the family members as well.
Tax benefits: Under section 80D of the Income Tax Act, policyholders can enjoy tax benefits as well which makes the Oriental Hope Insurance Plan a financially smart choice.

Eligibility Criteria of Oriental Hope Insurance Scheme

The minimum age for availing of the Oriental Hope Insurance Plan is 18 years and the maximum age is 65 years. Children who are at least 3 months old can also be covered under this insurance scheme if one of their parents is already a policyholder.
Applicants with some pre-existing medical history are required to wait for some time. Usually, the waiting period is 2 to 4 years according to the nature of the condition.
People who are above the age of 45 are required to undergo a medical check-up before applying.

What Is The Application Process For This Insurance Scheme?

The application process for availing of the Oriental Hope Insurance Plan is far from complex:

It is essential to conduct personal research before taking any insurance plan. Studying various plans and their features is imperative to choose the best-suited plan for an individual.
After deciding, the beneficiary needs to select the type of extent of the plan’s coverage as per their requirements.
Interested individuals have to fill out the application form which can be found on their website or in their nearest branches. The form is comprised of details about one’s personal information, medical history, and coverage options chosen.
Applicants need to submit the form along with the needed documents such as identity proof, address proof, birth certificate, and medical records.
If the applicant is above 45 years of age, a medical examination will be conducted.
After completing and passing all the stages mentioned above, the applicant has to pay the premium amount to confirm the plan.
After the payment, the policy is issued to the policyholder.

Conclusion

The Oriental Hope Insurance Plan is a safe and secure way for individuals to protect themselves and the lives of their loved ones against the uncertain nature of life. The plan is customisable which makes it the most desirable one for people who are looking to design what their protective shield would cover.

If you’ve any queries, you can contact OICL through their official mail or by dialling 1800-118-485.

Frequently Asked Questions