There are some ways in which New India Assurance Senior Citizen Mediclaim Policy is different from health insurance. The latter is more comprehensive and covers medical costs that may include services beyond hospitalization, whereas the former only covers hospitalization-related expenses.
In layman’s terms, in order to submit a Mediclaim, a patient must actually be admitted to the hospital, whereas a health insurance claim only needs to be submitted in the event of a medical emergency, which need not involve hospitalization. Typically, hospital expenses are covered by a Mediclaim policy.
- 5 years old, is the minimum age requirement to apply for a Mediclaim, and 60 years old is the maximum. Dental costs, cosmetic procedures, pregnancy, childbirth, and sexually transmitted diseases are all excluded from Mediclaim’s strict policy.
- Serious health issues arise as we age. But with the help of a senior citizen health insurance policy, seniors can fend off illnesses and lead healthier lives.
- One type of policy, the New India Senior Citizen Mediclaim Policy, offers extensive protection during the golden years. Everything is covered by this policy, including doctor’s fees, medical tests, medication, and hospitalization expenses.
- Choosing a different insurer is an option.
- There are two options for the sum insured: Rs. 15,000 and Rs. 1.5,000.
- If the covered spouse also receives a 10% discount,
- 10% off voluntarily exceeding Rs. 10,000
- Every four claim-free years, the cost of a health checkup is reimbursed.
- In India, a number of network hospitals offer cashless services for patients.
- A free health checkup is provided if the insured person already has New India Mediclaim insurance.
Duration of Coverage
- Pre-existing conditions after an uninterrupted 18-month policy
- surgeons’ fees, consultants’ fees, anesthesiologists’ fees, doctor’s fees, and nursing costs.
- 30 days of pre-hospitalization and 60 days of post-hospitalization, respectively.
- Up to 5% of the insured amount is covered by AYUSH treatment.
- Up to a maximum of Rs. 1000, emergency ambulance services
- Coverage for anesthesia, blood, occupational therapy, oxygen, medications, diagnostics, and other services.
- Due to advances in technology, daycare procedures, or medical care that doesn’t require a full 24-hour hospital stay, are now possible.
Medicare for Senior Citizens
Having elderly family members at home and realizing how crucial it is to take care of their needs is a blessing. When society is most vulnerable, protecting the elderly from disasters takes on top priority. Due to their weakened immune systems and physical limitations, the elderly were particularly susceptible to the pandemic.
However, senior health insurance will always be there for you in times of need when nothing else can. One of the crucial duties one should undertake for their elderly parents or senior citizens at home is purchasing senior medical insurance. Their prime years of life should age gracefully.
- Your best gift to your parents as they age may be a health insurance policy for them. People who supported and cared for you throughout it all now depend on you to keep an eye on them no matter what. Health Insurance for Parents is a program, especially for people over 60.
- It pays for unforeseen medical costs associated with hospitalization, checkups, daycare costs, and other necessities. A changing lifestyle and a toxic environment negatively impact older people’s health.
- You must be well-versed in the advantages of senior citizen health insurance. One kind of insurance for older people who have passed the age of 60 is senior citizen health insurance. A medical insurance policy makes it possible for senior citizens to receive high-quality medical care and treatment without depleting their savings.
- The financial and physical security of people from all walks of life is protected by the broad umbrella of health insurance. A medical emergency can happen to anyone, regardless of age. When planning for retirement, one should be careful to set aside a sizable sum of money.
- The Care Senior plan from Care Health Insurance is an unbeatable health plan for your parents that guarantees their protection with its appealing features and advantages. Give your elderly loved ones the peace of mind and assurance of a secure future.
- Senior citizen medical insurance is a good idea for the elderly due to the rising cost of healthcare. The typical entry age for senior citizen health insurance is 61 years old, though many insurance companies cap it at 69. Therefore, the benefits would be better if you obtained a Mediclaim policy earlier. It would also be less likely for the policy to be rejected. Pre-existing condition coverage will be provided after a two-year waiting period as well.
- A few policies for seniors include the Silver health plan from Bajaj Allianz; Optima Senior from Apollo Munich; Heartbeat from Niva Bupa (formerly Max Bupa); and Senior Citizens Red Carpet Plan – Senior Citizen and Star Health New India Assurance’s medical insurance policy.
Why should I Buy Care Health Insurance?
The senior citizen-specific plan created by New India suggests providing the elderly with the broadest possible coverage. With lucrative benefits like no claim bonuses and cost-free health checks, it covers important areas.
- Providers of Cashless Healthcare: 19000+
- Covidien-19 protection
- Claim settlement ratio of 95.2%.
- Benefits of Section 80D taxes
- Not Limited by Age
Health Plans from New India Assurance
This business offers general insurance to the public. It is a fully owned subsidiary of the Indian government and provides a variety of customizable policies covering everything from machinery and health to fire and liability. Individual plans for health coverage according to the needs of the policyholder are available through the New India Assurance Mediclaim policy.
They have a few plans, including:
- The New India Top Medical Insurance Plan
- Overseas medical insurance policy
- The policy of New India Asha Kiran
- 2012 Mediclaim Policy
- Insurance for New India Floaters
- The policy of the Pravasi Bharatiya Bima Yajona
- Policy for Janata Mediclaim
- Insurance for personal accidents
- Senior citizen Mediclaim policy
The significance of health insurance for seniors
Having a good health insurance plan for your elderly family members is crucial because it has become necessary in today’s society. The senior citizen age group, which includes those who have passed 60, is more prone to illnesses and health issues.
- The needs of people over 60 who are retired and don’t have a steady source of income are met by senior health insurance plans.
- Age-related increases in the likelihood of contracting diseases necessitate financial security to cover medical costs, making health insurance essential.
Senior Citizen Mediclaim Policy From New India Assurance
Senior citizen medical insurance is a good idea for the elderly due to the rising cost of healthcare. The typical entry age for senior citizen health insurance is 61 years old, though many insurance companies cap it at 69. The benefits would therefore be better if you had obtained a Mediclaim policy earlier. It would also be less likely for the policy to be rejected. Pre-existing condition coverage will be provided after a two-year waiting period as well.
- The policy plan allows for the addition of add-ons that cover coverage for complementary medical practices like homeopathy and Ayurveda. Since the entry age for senior citizen Mediclaim is high and the premium amount varies depending on the pre-existing disease, the premium is typically high.
- Depending on certain terms and conditions, some businesses provide seniors with lifelong coverage, while others might not demand that you get physical until you’re 69.
- A few policies for seniors include the Silver health plan from Bajaj Allianz; Optima Senior from Apollo Munich; Heartbeat from Niva Bupa (formerly Max Bupa); and Plan for Senior Citizens with Red Carpet Treatment from Star Health Mediclaim policy-New India Assurance.
Let’s use an illustration to illustrate the significance of a senior citizen health plan.
- Your father, a senior citizen, is left home alone with just a caretaker to assist him during the day because you and your spouse are both busy at work. Suddenly, he suffers a stroke that leaves him partially paralyzed. To get him back on his feet, he must stay in the hospital for a few months. Hospitals aren’t exactly cheap, so this will logically put a tight cap on your expenses.
- A senior citizen’s Mediclaim plan can help you out in these situations. You wouldn’t have to worry about money or sacrifice treatment quality if you had a senior citizen medical claim.
- For people aged 60 to 80, New India Assurance’s Senior Citizen Mediclaim policy is created. Maximum coverage of Rs. 1.5 lakhs is provided by this plan. This plan can cover the insured person and his or her spouse up to age 90 if there isn’t a break in the coverage.
- An authorized representative of the company shall, at the customer’s expense, perform a pre-acceptance medical examination. Any existing illnesses or diseases are discovered during this examination. This medical examination, however, may be waived if the proposer already has a plan with New India Health Assurance.
Senior Citizen Mediclaim Policy – Benefits from New India Assurance
- In the event of accidents or serious illnesses, this policy will pay for pre-and post-hospitalization costs.
- While the majority of insurance companies offer reimbursements, this policy offers cashless care, in which hospitals deal directly with New India Assurance to pay for any expenses incurred. Cash reimbursement is given to hospitals that are not included in the network.
- Pre-hospitalization costs are paid for up to 30 days prior to hospitalization, post-hospitalization costs are paid for up to 60 days following discharge, and the full cost of in-patient hospitalization is covered.
- Fees for the surgeon, anesthesiologist, doctor, and consultant may be claimed as 25% of the assured sum.
- This policy includes coverage for pre-existing conditions like diabetes, blood pressure, and hypertension after a set waiting period and additional premium payment.
- The cost of an emergency ambulance up to Rs 1,000 is covered.
- It charges an additional 10% premium for every pre-existing condition and pays for the cost of treating chronic pre-existing conditions.
- If there have been four years without a claim, this policy’s renewal benefit provides full reimbursement for medical check-up costs.
- The premium for your spouse is discounted by 10% under this plan.
- The sum assured will increase by 5% for each year without a claim, up to a maximum of 30% of the sum assured.
- After a 48-month waiting period, age-related illnesses like osteoporosis, osteoarthritis, joint replacement, and knee replacement are covered by this policy.
- There is a 30-day waiting period at the start while the policy is processed and approved. They will not provide reimbursement for any costs incurred during that time.
- The policy does not cover costs associated with wearing braces or contact lenses.
- Nuclear weapons, radioactive contamination, and war-related or war-like operations-related injuries are not covered. This insurance plan does not provide coverage for vaccinations, circumcisions, or immunizations.
The list of claims that the New India Assurance Mediclaim Policy will cover is as follows
- Hernia – from 16000 to 20000
- Arthroscopy – 10,000/-
- Tonsillectomy: 7000/-
- Prostate – 18000/-
- Kidney Stone – 13000/-
- Mastectomy: 36,000/-
- Laparotomy: 18000/-
- Tympanoplasty – 13000/-
- Septoplasty: 9000/-
- Appendectomy: 16,000/-
- Hysterectomy: 22000/-
The New India Assurance Mediclaim policy can be referred to as a custom policy because you can alter it to meet your parents’ needs. This policy stands out from the competition thanks to helpful features like free health checks, no claim bonuses (NCB), and the option to add common conditions like diabetes and hypertension to the base policy. Because the Indian government is behind New India Assurance, the general public can feel a little more confident in the legitimacy of this insurer.
The Senior Citizens Mediclaim Policy’s Highlights
- Up to a maximum of 30%, offers a cumulative bonus of 5% for each year of claim-free (renewal) status.
- The cost of the premium will be reduced by 10% for families by adding a spouse to the policy. Additionally, if a voluntary deductible of Rs. 10,000 is chosen, the premium will be reduced by another 10%.
- If a senior citizen has an existing health plan, they can migrate to a Senior Citizen Mediclaim.
- payment for a health checkup that is required every four claim-free years.
- Tax benefit for the premium paid in accordance with Section 80D of the Income Tax Act.