Medi claim policy for senior citizens

[CHANDRU1849]

Share:

Facebook X (Twitter) LinkedIn WhatsApp Email Share Link

Medical expenses, especially for Senior Citizens, in most of the cases, are recurring in nature.

Though lot of Medi Claim Insurance Policies are available, both from Public Sector and Private Sector Enterprises, benefits offered are not the same.

What is reasonably a good Medi Claim Insurance Policy for Senior Citizens?

Members can suggest.

 

[Naina_Marbus]

Visit this website for details.
I think there is also an upper age limit (75?).

Select an amount which you think would be sufficient to cover hospitalisation costs
in case of a sudden major illness/accident. It is better to take a slightly larger cover
than you think would be required.



Best Health Insurance Plan - Compare & Get the Best Policy in India

 

[Naina_Marbus]

For a 70yr-old taking Rs 5 lakh mediclaim insurance, here are some sample rates as well as comparison shopping:

 

[Naina_Marbus]

 

[CHANDRU1849]

Visit this website for details.
I think there is also an upper age limit (75?).

Select an amount which you think would be sufficient to cover hospitalisation costs
in case of a sudden major illness/accident. It is better to take a slightly larger cover
than you think would be required.



Best Health Insurance Plan - Compare & Get the Best Policy in India

Thank you very much, Sir.

 

[Nacchinarkiniyan]

The Insurance premium for Senior Citizens is very high. And it excludes preexisting illness for a number of years. My illness cost me nearly Rs. 4,00,000. I had insurance only for Rs.1,00,000. Some of the policies do not cover Room Rent, ICU Rent and pre hospitalization expenses.

 

[Naina_Marbus]

...What is reasonably a good Medi Claim Insurance Policy for Senior Citizens?

As you can see from post#4, it all depends on what these insurance companies decide to dole out to you after charging hefty premiums. For example, Bajaj allows pre-existing conditions after one year, but look at what they don't cover. So, make a judicious calculation as to what suits you best.

 

[Naina_Marbus]

[FONT=&quot]The LIC had monopoly till the late 90s when the Insurance sector was opened to the private sector. Before that, the industry consisted of only two state insurers: Life Insurers (Life Insurance Corporation of India, LIC) and General Insurers (General Insurance Corporation of India, GIC). GIC had four subsidiary companies. With effect from December 2000, these subsidiaries have been de-linked from the parent company and were set up as four independent insurance companies: Oriental Insurance Company Limited, New India Assurance Company Limited, National Insurance Company Limited and United India Insurance Company Limited. All the four are now independent but fully central government owned general insurance companies based in India. I believe that each company sets its own terms and conditions, including age limit. [/FONT]Some details about NewIndia company policies are given below.

Disclaimer: I do not represent this company, nor do I have a policy with that company.

[FONT=&quot]-------------------------------------------------------------------------------------[/FONT]
[FONT=&quot]Senior Citizen Mediclaim Policy from New India Assurance Company[/FONT]

[FONT=&quot]Senior Citizen Mediclaim Policy : The New India Assurance Co. Ltd.[/FONT]

Any senior citizen resident in India and aged between 60 and 80. If renewed without a break, the cover can be continued up to age 90.

Pre-acceptance Health Check Up: Proposers must undergo a prescribed pre-acceptance health check at their own cost to identify pre-existing diseases. The health check is waived if the proposer is already having Mediclaim insurance in continuity with our Company.

[FONT=&quot]What is Covered?[/FONT]​

[FONT=&quot]The policy covers:[/FONT]

• [FONT=&quot]Hospitalization expenses incurred for the treatment of illness/injury.[/FONT]
• [FONT=&quot]Pre- and post-hospitalization expenses up to 30 and 60 days respectively.[/FONT]
• [FONT=&quot]Ambulance Charges.[/FONT]
• [FONT=&quot]Limited cover for hospitalizations in government and /or registered Ayurvedic/Homeopathic and Unani hospitals.[/FONT]

[FONT=&quot]Pre-existing diseases are covered only after 18 months of continuous insurance with our Company. Pre-existing conditions like Hypertension, Diabetes mellitus and its complications are covered after 18 months of continuous insurance but only on payment of additional premium.[/FONT]
[FONT=&quot]Some Important Exclusions[/FONT]

• [FONT=&quot]Diseases contracted within 30 days of insurance.[/FONT]
• [FONT=&quot]Dental treatment except treatment arising out of accident.[/FONT]
• [FONT=&quot]Debility and General Run Down Conditions.[/FONT]
• [FONT=&quot]Sexually transmitted diseases and HIV (AIDS).[/FONT]
• [FONT=&quot]Cosmetic surgery.[/FONT]
• [FONT=&quot]Vaccination and Inoculation.[/FONT]
• [FONT=&quot]Pregnancy and child birth.[/FONT]
• [FONT=&quot]War, Act of foreign enemy, ionising radiation and nuclear weapon.[/FONT]

[FONT=&quot]Sum Insured:[/FONT][FONT=&quot] Rs. 1.0 lac and/or Rs 1.5 lac. [/FONT]
[FONT=&quot](is this the maximum allowed? I am not sure - Naina)[/FONT]
[FONT=&quot] Premium (in Rs.)[/FONT]

[TABLE="class: MsoNormalTable"]
[TR]
[TD]

[FONT=&quot]Sum Insured (in Rs.)[/FONT]​

[/TD]
[TD]

[FONT=&quot]60-65 years[/FONT]​

[/TD]
[TD]

[FONT=&quot]66-70 years[/FONT]​

[/TD]
[TD]

[FONT=&quot]71-75 years[/FONT]​

[/TD]
[TD]

[FONT=&quot]76-80 years[/FONT]​

[/TD]
[/TR]
[TR]
[TD] [FONT=&quot]1,00,000[/FONT]
[/TD]
[TD] [FONT=&quot]3850[/FONT]
[/TD]
[TD] [FONT=&quot]4250[/FONT]
[/TD]
[TD] [FONT=&quot]4700[/FONT]
[/TD]
[TD] [FONT=&quot]5150[/FONT]
[/TD]
[/TR]
[TR]
[TD] [FONT=&quot]1,50,000[/FONT]
[/TD]
[TD] [FONT=&quot]5720[/FONT]
[/TD]
[TD] [FONT=&quot]6310[/FONT]
[/TD]
[TD] [FONT=&quot]6980[/FONT]
[/TD]
[TD] [FONT=&quot]7650[/FONT]
[/TD]
[/TR]
[/TABLE]
[FONT=&quot]Loading for renewal between age of 81-85 years -- 10%[/FONT]
[FONT=&quot]Loading for renewal between age of 86- 90 years -- 20%[/FONT]
[FONT=&quot]Additional premium to cover pre-existing conditions of Hypertension, Diabetes mellitus from the inception of policy - 10% of basic premium for each condition.[/FONT]
[FONT=&quot]Discounts:[/FONT][FONT=&quot][/FONT]

• [FONT=&quot]10% for voluntary excess of Rs.10,000/-.[/FONT]
• [FONT=&quot]10% Family Discount in case spouse is also covered.[/FONT]

[FONT=&quot]Special Features of the Policy[/FONT]

• [FONT=&quot]Reimbursement of cost of Health Check once in block of 4 claims-free years.[/FONT]

[FONT=&quot] (No more than Rs. 1000, from personal experience)[/FONT]

• [FONT=&quot]Income Tax Benefit under Section 80D of IT Act.[/FONT]

For more details visit the website. [FONT=&quot]Senior Citizen Mediclaim Policy : The New India Assurance Co. Ltd.[/FONT]
Download Policy details http://newindia.co.in/downloads/Senior-Citizen-Mediclaim-Policy.pdf

 

[Nacchinarkiniyan]

That policy is only for a maximum of Rs. 1,50,000. Though the cost of the policy has gone up sky high, the exemption available under 80 D of Income tax act is limited to Rs.15,000.

 

[Nacchinarkiniyan]

I got the quotation from policy bazaar. I am enclosing the print screen.

You would notice that except Star health Insurance No other company covers existing illness. Their premium is low compared to others.