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Star Health and Allied Insurance Co Ltd is a joint venture between ICICI Ventures Fund Management, TATA Capital Growth Fund, Oman Insurance Company, UAE and Alpha TC Holdings Pte. Ltd., Singapore. Founded and approved by IRDA, the company deals in 3 major sections: Health Insurance, Overseas Mediclaim Policy and Personal Accident plans. The business interest of the company is to offer wide range of plans and insurance policies single-mindedly dedicated only to the health sector.
Star Health believes in using the resources to focus on providing excellence in service, design products and use core competency of innovation to deliver the best to their customers. Being India’s first standalone company in the health insurance industry, it deals in various kinds of health insurance policies, medi-claim and overseas travel insurances plans keeping in mind the comfort and suitability of the nation-wide clients.
Established in 2006, the company has progressed by leaps and bounds in just under a decade and has shown exceptional progress as compared to other general insurance companies being in the industry from decades. Raising a benchmark in the health insurance sector, Star Health has become one of India’s most trusted specialist companies for health insurance. It has its presence through more than 290 branch offices across pan India working dedicatedly towards providing the best of policies to their valuable customers. With a vision to become the largest and most preferred Health Insurance company in India, it provides help and assistance to its customers through help lines, call centers and online medium.
The Star Health Insurance has built up an effective grievance redressal mechanism for the customers to deal with them in an open and transparent manner and help them with better services. They enable customers to know claim status within 3 days of receipt of documents; they aim to make the services more visible to a greater audience.
In order to make their services more accessible, Star Health Insurance share regular communications through mails and brochures giving information about the products and services they have to offer. Making life convenient for the customers, the policy holders receive renewal notice 15 days before expiry of policy and provide pre authorisation for cashless facility within 4 hours from receipt of the request.
With a capital base of Rs.985 crores, Star Health has reached new heights having started in 2006 to present. Being new in the market of insurance compared to other general insurance companies and specifically catering to health industry, Star health Insurance has shown a landmark success in a short time span.
The company has been awarded with numerous awards and accolades and is ranked among India’s top health insurers. Awarded as the Health Insurance Company of The Year 2015 under the Indian Insurance Awards 2015, it further aims to provide financial security for health care management to a larger user base in the country. Providing comprehensive financial protection against various medical emergencies, the plans and policies under the company are one of the most sought after and trusted in the country. The company further plans to expand the product line and services in the health sector on a continuing basis to serve the audience with the best of everything.
Beating 28 general insurance companies at the Indian Insurance Award, Star Health was awarded as the ‘Claims Service Company Of The Year, 2014’ along with being rated the Best Claim Settlement Insurer by Hindustan Mars Survey. Each policy covers more than 7800 networked hospitals across India with benefits like cashless hospitalization and remboursement facility too. They boosts of a SRMS portal dedicated to monitoring the grievances registered on the Integrated Grievance Management System (IGMS)as a redressal forum to inform customers about the availability of insurance ombudsman and more. They have shown good results in the past few years and strive to perform the best in the future too.
As the Star Health and Allied Insurance Co Ltd deals in the health sector only, therefore the insurance plans are specifically related to health only with a wide range of options on the platter. Defining the aim of a health insurance policy, it is a coverage against the heavy medical expenses an individual is about to bear in the future. Major costs of hospitals, medications and other health related issues are covered under the policy selected by the policy seeker accordingly.
Star Health issue policies on individual health, personal accident and overseas mediclaim policies to their customers and also educate a wider public about the multiple options available under the products and services offered by the Star Health Insurance Company. Having a clear awareness of the needs of the people, they have curated their plans to suit general and major situations related to health.
Many policies offered by the Star Health insurance also provide personalized doctor visit for the policy holders getting hospitalised in order to get a clear picture of the current conditions and the disease. The policies range from Family Floater Schemes to Senior Citizen Health Coverage and much more.
Star Health Insurance claims of hassle-free and customer-friendly direct claim settlement without intervention of TPA. Building and maintaining an enduring relationship with customers, the policies are designed with a special care for providing prompt, courteous and quality service to the customers.
Following are the health insurance plans offered by Star Health-
It is a single policy with a wide coverage for whole family at a very easy and affordable premium. It includes a health checkup costing up to Rs.5,000 for every block of 3 years of policy coverage. The policy gets 100% automatic restoration of the entire sum. Additionally, the new-born member of the family gets a cover from the 16th day of the birth. If any family member is required to go through organ transplant, the donor expenses are covered by this family health policy too and all day care procedures are also covered.
It is another special policy for senior citizens aged between 60 to 75 years. This policy does not have any pre-insurance medical test requirement and has a sum insured upto Rs.10 Lakhs with guaranteed lifetime renewals.
This health insurance policy does not have a cap on room rent and treatment cost but covers medical expenses incurred on Bariatric surgical procedures and its complications, provides air ambulance assistance, cost of health check up, maternity and new born baby cover.
This policy covers health checkup costs up to Rs.5,000 for every block of 4 claim free years and 101 day care procedures are also covered under this.
Here’s a look at some frequently asked question
A health card is a card that comes along with the Health Policy. It is similar to an Identity card. This card would entitle you to avail cashless hospitalization facility at any of our network hospitals. A health card mentions the contact details and the contact numbers of the TPA.
The company would send you a renewal notice informing you of the expiry of your health policy via courier. However the Company is under no obligation to send renewal notice and its absence thereof shall not tantamount to deficiency in services. Hence Customer has the prime responsibility to renew his policy.
In the event of hospitalization under normal circumstances, the patient or their family will have a bill to pay the hospital. Under Cashless Hospitalization the patient does not settle the hospitalization expenses at the time of discharge from hospital. The settlement is done directly by Star Health Insurance.
Any number of claims is allowed during the policy period. However the sum insured is the maximum limit under the policy.
-Premium paid under the Health insurance Policy is exempted from Income Tax under section 80D of the Income Tax Act up to Rs.15,000 for individual covering his family and dependant Children.
-In case the proposer intends to cover his parents under medical insurance, he is eligible for a deduction of another Rs.25,000 under section 80D.
-In case the age of parent to be covered is above 65 years, the deduction available is Rs.30,000 under section 80D.
Under this, one single policy takes care of the hospitalisation expenses of your entire family. Family Floater Health Plan takes care of all the medical expenses during sudden illness, surgeries and accidents.
A medical checkup is necessary for a new health insurance policy for customers above the age of 50 years. Medical checkup is not required only for Senior citizen policy offered to people between 60 years to 69 years. Please check the plan terms and conditions before selecting.
Wednesday November 25, 2015
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