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Do you fall into the category of a senior citizen? Don’t forget seniority comes with lots of responsibilities and duties towards your family and health. The age of sixty is not only the age of retirement but also the age of devoting utmost attention to your health.
At 60s everyone witnesses a shrinkage in the body immune system to combat diseases and injuries. Due to this concern, Star Health composed Senior Citizen Red Carpet health insurance policy. This will ensure continued financial support to the senior citizen at the time of hospitalization for any pre-existing ailments or accidents.
|Minimum Age of Entry||60 years|
|Maximum Age of Entry||75 years|
|Sum Insured Amount (in lakhs)||For individual: 1/ 2/ 3/ 4/ 5/ 7.5/ 10/ 15/ 20/ 25 lakhs For family floater plan: 10/ 15/ 20/ 25 lakhs|
|Numbers of members included||2 adults maximum (self and spouse)|
|Period of the Policy||1/2/3 years|
|Pre-policy Medical screening||Not required (if you submit your health reports by self, you will receive a discount of 10% on premium)|
|Co-payments (sharing claim amount with the company)||30% to 50% of the admissible claim|
|Sum insured||1L/ 2L||3 lakhs||4 lakhs||5 lakhs||7.5 lakhs||10 lakhs||15 lakhs||20 lakhs||25 lakhs|
|Room, nursing, Boarding charges||Up to 1% sum insured||Up to 1% sum insured||Up to 1% sum insured||Up to 1% sum insured||Up to 6,000||Up to 6,000||Up to 7,000||Up to 8,500||Up to 10,000|
|ICU charges||Up to 2% of the sum insured||Actual amount of expenses|
|Fees of Surgeon/Consultant/Anaesthetist||25% of the sum insured per hospitalization|
|Operation Theatre Expenses/ Dialysis/Medicines/Anaesthesia||Up to 50% of the sum insured for each hospitalization|
|Pre-Hospitalization||Covered for 30 days prior to hospitalization for a listed ailment|
|Post-Hospitalization||Up to Rs 5,000 per occurrence||Up to Rs 7,000 per occurrence||Up to Rs 10,000 per occurrence|
|Day Care Procedures||Covers all the daycare procedures requiring less than 24 hours|
|Ambulance Cover (transportation to nearby hospitals in emergencies)||Rs 1,200 in a policy period
(600 per hospitalization)
|Rs 2,000 in a policy period (1,000 per hospitalization)||Rs 3,000 for a policy period (1,500 per hospitalization)|
|Health CheckUps (for each policy period)||Not applicable||Individual plan: Rs 1,000 Family floater: Not available||Individual plan: Rs 1,000 Family floater: Rs 3,000||Individual plan: Rs 2,500 Family floater: Rs 4,500|
|Pre-existing Diseases||Covered after 12 months starting from the policy inception date|
|Outpatient Consultation||Not applicable||Individual: Rs 600 Family floater: Not available||Individual Rs 800 Family floater: Not available||Individual: Rs 1,000 Family floater: Not available||Individual: Rs 1,200 Family floater: Not available||Individual: Rs 1,400 Family floater: Rs 2,400||Individual: Rs 1,800 Family floater: Rs 3,000||Individual: Rs 2,200 Family floater: Rs 3,800||Individual: Rs 2,600 Family floater: Rs 4,400|
1. Tax Benefits: Get tax deduction under section 80D of Income Tax act 1961 by paying the premium online while replacing the idea of cash payment.
2. Quick Claim Settlement: The company settle claims directly without the indulgence of the third party.
3. Cashless Hospitalization: Star health insurance company provide cashless treatment at 8800+ network hospitals located all around India.
4. Discounts:The insured will get 5% discount for online purchase of the policy and a 10% discount on premium paid if pre-policy medical checkup reports are submitted.
Given below are the premium rates against various sum insured for an individual as well as the family floater.
|Amount of the sum insured||Term of the Policy|
|1 year||2 year||3 year|
|Amount of Sum insured||1 year||2 year||3 year|
NOTE: The premiums mentioned above is before the addition of tax.
1. What is the notification period to make a claim?
The company must be informed within 24 hours after the insured has been admitted to the hospital which is only applicable to emergency hospitalization.
For planned hospitalization, the insured must share the information within 24 hours before the actual hospitalization.
2. Can we cancel the policy if we don’t like any of the clauses?
Yes, the insured will be given 15 days of time to evaluate all the terms and conditions where he/she has the provision to cancel the policy under 15 days of free look period.
3. Do we get refunds on cancellation of policy?
The company surely provide you refund based on the number of months or years the policy has remained active.
|Period of policy remained||Refund Percentage of Premium|
|1 year||2 year||3 year|
|Up to 1 months||75% of the premium paid||80% of the premium paid||82.5% of the premium paid|
|Up to 3 months||60% of the premium paid||70% of the premium paid||77.5% of the premium paid|
|Up to 6 months||40% of the premium paid||60% of the premium paid||70% of the premium paid|
|Up to 9 months||20% of the premium paid||50% of the premium paid||62.5% of the premium paid|
|Up to 12 months||Not refunded||40% of the premium paid||55% of the premium paid|
|Up to 15 months||30% of the premium paid||47.5% of the premium paid|
|Up to 18 months||20% of the premium paid||42.5% of the premium paid|
|Up to 21 months||10% of the premium paid||35% of the premium paid|
|Up to 24 months||Not refunded||27.5% of the premium paid|
|Up to 27 months||20% of the premium paid|
|Up to 30 months||12.5% of the premium paid|
|Up to 33 months||5% of the premium paid|
|More than 33 months||Not refunded|
4. What percentage of the claim amount does the insured need to pay or share with insurance provider?
Senior Citizen Red Carpet policy includes copayments where the insurer is liable to pay some amount of claim made by himself.
5. Are there any sub-limits for the treatment of cardiac diseases/surgeries/cataract/Hernia etc?
Yes, there is a presence of sublimits for particular diseases which are listed in the table-
|Sum insured values||Cataract||Cerebrovascular Accident, Cardiovascular Diseases, Cancer (Including Chemotherapy / Radiotherapy) Medical Renal Diseases (Including Dialysis) Treatment of Breakage of Long Bones||All other major surgeries|
|Individual||Family Floater(per policy period)||Individual||Family Floater(per policy period)||Individual||Family Floater(per policy period)|
NOTE: The company will only pay the claims which are under the sublimit.
6. What illnesses are covered after a waiting period of 24 months?
Some of the diseases are-
The policyholders are requested to read policy wording to get a complete list of diseases covered.
7. Do the insurer gives extra time after the policy renewal date has been expired?
The insurer will provide a grace period of 30 days after the date of expiry under which the policyholder has to submit the premium amount in order to renew the existing policy.