Health Insurances 152 views
It would not be wrong to say that the prices of healthcare are increasing day by day. And, as the age of an individual increases, the need for expensive treatment also increases, hence these costs become a burden on an individual. However, in order to meet their healthcare expenses, the senior citizens need to use their hard-earned savings. But, now no more worries as Bajaj Allianz with its Silver Health Policy for Senior Citizens is here to protect you and your spouse, whenever you are in need of a costly medical care. Yes, this health insurance policy has been thoughtfully crafted in order to suit the needs of senior citizens.
Read this article further to know about the key features, benefits and exclusions of Silver Health Policy
Table of Contents
Salient Features of Silver Health Policy
- Cashless claim settlement at 5000+ network hospitals
- Covers pre and post hospitalization expenses
- Quick disbursement of claims
- Pre-existing illnesses covered
- Cashless facility
- Global expertise
- Innovative packages to match individual needs
- Income tax exemption under section 80D of the Income Tax Act
- Sum insured of Rs. 50,000 to Rs. 5,00,000
- Spouse can also be covered under the policy
Benefits of Silver Health Policy
- This policy cover hospitalization expenses along with 3% of admissible pre and post hospitalization expenses.
- For any emergency situation, it also covers the ambulance charges which is subject to a limit of Rs.1000.
- The member can opt for a hospital outside the network. But the expenses shall be reimbursement within 14 working days in such a situation.
- If treatment is taken in a hospital other than a network hospital, 20% co-payment admissible claims will be paid.
- From second year on wards of the health policy, the pre-existing illnesses are covered.
- 130 day care procedures are covered
- 5% family discount
- For every claim free year, 10% cumulative bonus added to the sum assured with maximum being 50%.
- At the end of the four consecutive claim-free years, the health check-ups in designated Diagnostic centers of Bajaj Allianze.
- Lifetime renewable benefits, except in case of fraud or moral hazard.
- Tax exemption under Section 80D on the premium paid.
- With cashless facility, the member can have the access at numerous network hospitals across India.
Eligibility for Silver Health Policy
- Your age should be 46 years to 70 years.
- Self and spouse can be covered under the policy
Additional Features of Silver Health Policy
- Increasing the Sum Assured: At the time or renewable, you can have the option to increase the sum assured.
- Free Look Period: If the policyholder is not satisfied, the company provides you with a free look period of 15 days to review and cancel the policy.
- Cancellation: In order to cancel the policy, you need to provide a notice of 15 days so that your premium shall be refunded.
- Grace Period: For policy renewable, a grace period of 30 days is provided.
- Portability: You can transfer an existing policy of a non-life insurer to Silver Health Policy.
Exclusions of Silver Health Policy
- The pre-existing conditions, until 12 months of continuous coverage have elapsed.
- Some diseases such as piles, hernias, gastric ulcer, etc have a waiting period of on year.
- For joint replacement surgeries, 4 years of exclusions.
- Pregnancy and childbirth related treatments.
- Dental, cosmetic and aesthetic treatment.
- AIDS, HIV or any other sexually transmitted diseases.
- For diagnostic investigation and tests, hospitalization is there.
- Treatment for mental illness as well as psychiatric.
- Weight loss therapies.