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Product Review - Star Health Senior Citizen Red Carpet

Monday, March 21, 2011
Manoj Aswani

Policy Snapshot
 Specially for individuals between the age group of 60 and 69 years
 No medical tests are required for this policy
 Pre-existing diseases are covered from the second policy year

Eligibility Criteria
Minimum Coverage – 100,000
Maximum Coverage – 200,000
Minimum Age at entry – 60 years
Maximum Age at entry – 69 years
Renewable till the age of – No Limit

 Hospital room accommodation – is provided up to 1% of sum insured and up to 2% of sum insured for ICU expenses
 Nursing expenses, Surgeon's fees, Consultant's fees, Anaesthetist’s and Specialist's fees are all included.
 Emergency ambulance charges are paid till specific limit as mentioned.
 Cost of medicines and drugs, blood, oxygen, pace-maker and diagnostic tests are covered till 50% of sum insured.
 Post hospitalization benefits are paid for up to 7% of hospitalization expenses up to a maximum of Rs. 5000.

Extra Benefits
 Disease for which treatment or advice was recommended by or received during the immediately preceding 12 months from the date of proposal will be covered from second year onwards.
 Certain treatment have an upper limit mentioned as below:
o Cardiovascular Diseases and Cerebrovascular Accident / Cancer and breakage of Bones: Up to Rs. 75,000 for sum insured of Rs. 1,00,000 and up to Rs. 1,50,000 for sum insured of Rs. 2,00,000
o Both eyes Cataract surgery is covered up to Rs.15,000
o Renal Complications up to Rs. 75,000 for sum insured of Rs. 1,00,000 and up to Rs. 1,50,000 for sum insured of Rs. 2,00,000
o Other Major Surgeries are covered up to Rs. 60,000 for sum insured of Rs. 1,00,000 and up to Rs. 1,20,000 for sum insured of Rs. 2,00,000

Policy Premium Including Service Tax
Sum Insured (Rs) Premium (Rs)
1,00,000 4,908
2,00,000 9,326
3,00,000 14,229
4,00,000 17,097
5,00,000 19,854

Tax Benefits
Health Insurance premiums paid in any mode other than cash up to Rs. 15,000 and Rs. 20,000 for senior citizen are allowed as a deduction from the taxable income each year under section 80D of the Income Tax Act.

Policy Exclusions
 Initial waiting period of 30 days from commencement of the policy, no claims will be admitted.
 Certain diseases are excluded in the first year of operation like Fistula in anus, Piles, Sinusitis and related disorders, congenital internal disease / defects, removal of gallstones and renal stone, Benign Prostate Hypertrophy, Hernia, Hydrocele
 Some of the diseases are excluded in the first Two Years of operation, which are knee replacement surgery which is caused other than by an accident, Cataract, Hysterectomy for Menorrhagia or Fibromyoma, Prolapse of inter-vertebral disc (other than caused by accident),varicose veins and varicose ulcers
 Cosmetic surgery and Naturopathy treatment are not included
 Expenses which are purely diagnostic in nature is also not included in this plan

Star Health is an exclusive health insurance company with a strong focus on protecting the health of their customers by tailor making policies to suit their needs. They are probably one of the only general insurance companies to have a wide array of health insurance products in their kitty. By offering a direct in-house claim settlement service, they have demonstrated their commitment to manage the most important process around an insurance product, that is, claim processing and s

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