Varistha Mediclaim Policy for Senior Citizens

Entry Age

60 years - 80 years

Policy Period

1 year

Renewability

Policy can be renewed till the insured is 90 years of age.

Basis

Covers only the individual.

Sum Insured

Rs.1,00,000 for hospitalisation and Rs.2,00,000 for Critical illness cover.

Plan Benefits

1. Cumulative Bonus and cost of health Check-up is available on claim-free years.
2. 1% of the sum insured is paid as hospitalisation expenses.
3. Fees of surgeon, anaesthetist, medical practioner, consultants, specialists etc. is covered till 25% of the sum insured.
4. 50% of the sum insured covers:

1. Cost of medicine
2. Drugs
3. Blood
4. Oxygen
5. Diagnostic charges, etc.

1. Emergency ambulance charges up to Rs.1,000 is covered per policy year.
2. Till a certain limit as specified, the treatment of cataract, benign prostatic hyperplasia and organ transplant are covered.
3. Critical Illness like cancer, stroke, multiple sclerosis etc. are paid for even without being hospitalised.
4. Pre hospitalisation expenses incurred 30 days before being hospitalised, are covered.
5. Post hospitalisation expenses up to 60 days are covered.
6. Conditions like diabetes and hypertension that were existing while taking the policy will be covered from the inception on paying an additional premium.

Tax Benefit

The premiums paid up to Rs.15,000 on the policy is allowed as deductions every year under the Section 80D of the Income Tax Act. The exemption for senior citizen is Rs.20,000.

Exclusion

1. Treatment incurred in the first 30 days of the policy commencement is not covered.

1. First year exclusions are:

1. Joint replacement

1. Cataract
2. Benign prostatic hypertrophy
3. Hernia
4. Fistula
5. Piles
6. Hydrocele
7. Congenital internal disease
8. Pilonidal sinus
9. Sinusitis
10. Stone disease
11. Benign lumps or growth in any part of the body
12. Surgical treatment of tonsils
13. Adenoids and deviated nasal septums.

1. Vaccinations of any kind.
2. Cost of dental treatment and surgery and spectacles are not covered.
3. Purely diagnostic diseases are not covered.
4. Conditions caused by war or nuclear weapons are excluded.
5. Expenses arising from intentional self-injury, drug and alcohol abuse are not covered.
6. Cosmetic treatment are excluded.
7. Medical expenses arising from HIV, AIDS and related diseases are not covered.
8. Unless prescribed by the doctor, vitamin and tonic intake are excluded.
9. Naturopathy treatment costs are excluded.
10. Pregnancy, miscarriage, abortion or other child-birth related conditions are not covered.
11. If the insured is a smoker smoking more than 40 cigarettes in a day, no claim will be paid out.
12. Other exclusions are:

1. Rest cure
2. Convalescence
3. General debility
4. Congenital external diseases or defects or anomalies
5. Sterility
6. Venereal diseases.