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Insurance Coverage

It is always difficult to find health insurance for senior citizens. The reason behind is that the health care needs widely vary for older peoples. Because of this, there is a possibility for more claims to be made and insurance company has to be pay more amount for the claim settlement.

Star health insurance, specialize in health insurance comes up with innovative product, Star Senior Citizen Red Carpet. This is India's first health insurance specially designed to provide health cover for the senior citizens. It provides the cover for the anyone aged between 60 years and 69 years. Additionally the renewal is granted beyond 69 years.

This insurance plan is available without any pre-insurance medical test. But, the treatment is provided at network hospitals only.

Policy Benefit

It covers in-patient hospitalization expenses for a more than 24 hours hospitalization. It includes room rent, boarding expenses, operation theatre charges, ICU charges, nursing expenses, surgeons fees, consultant fees, anesthetists fees, specialist fees, cost of blood, oxygen, cost of medicines, diagnostic cost, pacemaker, emergency ambulance charges, etc. It also covers treatment for cardiovascular diseases, cardiovascular accident, cancer, breakage of bones, contract, renal complications and all other major surgeries. These expenses are provided according to the company limit.

Post Hospitalization Benefit

A lump sum calculated at 7% of total hospitalization expenses (excluding room charges), subject to maximum of Rs.5000/-

Pre-Existing Conditions

All are-existing diseases are covered from first years, except those for which treatment was recommended or received during the immediately preceding 12 months from the date of proposal.

Discount on Premium-

• 10% discount on the premium will be permitted, if the following medical reports are satisfactory for the insurer.
• Stress Thallium Report
• Sugar Test (Blood and Urine)
• Blood Urea and Creatinine
• Blood Pressure
• Proof for the surgeries related to Heart/Brain/Cancer that have not been performed in the past.

Tax Benefit-

Premium paid by cheque or credit card is eligible for tax benefit under section 80D of the Income Tax Act,1961.

About the Author:

Habib Antule is a financial advisor and consultant and have provided his expertise to many financial institutions for loans and insurance. One of which is a bit online financial player in the market – Apnapaisa.com.