Star Health Gain Insurance is a health insurance policy which provides coverage for both inpatient and outpatient hospitalization treatment at a lower premiums. Also, the plan is a perfect balance between insurance and tax benefits.
This health insurance can be available for both individual and family floater basis at flat premium of only Rs. 14,725/-
Eligibility Criteria:
-Policy is available for the any person aged between 5 months and 60 years.
-Option to take policy on an individual basis or for the family( 2 adults and 3 dependent children)
-Sum insured ranges are 1Lakh, 2Lakh, 3Lakh, 4Lakh and 5Lakh.
Coverage-
(a)Covers hospitalization expenses incurred as an inpatient treatment for sickness, illness, diseases or accidental injuries. It includes-
-Room rent and boarding expenses up to 2% of the sum insured, subject to maximum of Rs. 4000/- per day for Class A cities; 1% of the sum insured, subject to maximum of Rs.3000/- per day for Class B cities; 1% of the sum insured, subject to maximum of Rs.1000/- per day for other cities in India.
-Surgeons, anesthetist, specialist and consultant fees
-Nursing expenses
-Blood and oxygen
-Drugs, medicines and diagnostic materials
-Cost of pacemaker
-Emergency ambulance charges for transporting insured person to the hospital.
(b)Pre hospitalization expenses incurred 30 days prior to the date of hospitalization.
(c)Post hospitalization expenses on lump sum basis @ 7% of hospitalization expenses(excluding room rent), subject to a maximum of Rs.5000/-
(d)Hospitalization expenses incurred as an outpatient treatment subjects to the limits.
Advantages:
- Cashless hospitalization facility at over more than 4000 network hospitals across India.
- Renewal discount on basic premium is permitted on renewal for every claim free year.
- No claim discount on individual basis as per company rule.
- Tax benefit on premium paid under section 80D of the Income Tax Act, 1961.
About Author
Habib Antule is a financial advisor and consultant and have provided his expertise to many financial institutions for loans and insurance. One of which is a bit online financial player in the market – Apnapaisa.com.
No, it doesn't work that way. Most carriers require you to agree to cancel your existing policy when you apply for your new one, and if you have two policies one is going to be primary, and the other secondary. You will reap the benefits of the better plan, but where they overlap, only one will pay.
What you might want is be a supplemental or limited benefit plan to go along with your insurance policy. These are not insurance policies and I usually don't recommend them. I think your money would be better spent buying a better single policy, or an HSA type of plan and banking the savings.
Don
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