Health Insurance 559 views May 18, 2021

Senior citizens face more health risks compared to young people. Treatment expenses in current times can cost individuals a lot of money. To protect your finances from medical emergencies, the Future Varishta Bima Plan could be a suitable option. This health insurance plan from Future Generali is designed for senior citizens (people with age of 60 years or above). With this plan, senior citizens can get coverage against treatment expenses with continuous cover until their lifetime.

Before understanding this plan further, let’s check out its key features mentioned below.

  1. Multiple sum insured options according to affordability
  2. Available on an individual and family floater basis
  3. In-patient treatment coverage
  4. Road ambulance charges coverage
  5. Free annual medical check-up
  6. Premium payment installment facility
  7. Family and long-term discounts
  8. Tax benefits under Section 80D of the Income Tax, 1961
  9. A 15-day free look period

Now you would want to know these features of the Future Varishta Bima Plan in detail. On this page, we will discuss the same so that you can understand the plan better. Keep reading to know more!

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Let’s Understand the Highlights of Future Varishta Bima Plan in Detail

The Future Varishta Bima Plan helps senior citizens enjoy every moment of their retirement life by providing coverage against hospitalization expenses. We are showing the features of this plan below. Please check!

Multiple Sum Insured Options

Future Varishta Bima Plan offers multiple sum insured options to policyholders from which they can choose according to their affordability. These options are INR 2 lakh, INR 3 lakh, INR 4 lakh, INR 5 lakh, INR 7.5 lakh and INR 10 lakh.

Policyholders can choose the sum insured option on an individual and family floater basis. Under the family floater basis, the family means the insured and his/her spouse. In the case of the individual policy, spouses less than 60 years will not get any coverage. However, under the family floater option, spouses (less than 60 years old) will get coverage if the age of the primary insured person is 60 years and above.

In-patient Treatment Coverage

With the Future Varishta Bima Plan, policyholders will get coverage against room rent and nursing expenses provided by the hospital/nursing home in case of a hospitalization. Other than this, policyholders will be covered for other in-patient expenses such as medicines & drugs, diagnostic materials & X-rays, Operation Theatre Charges, Consultants, Specialist Fees, etc.

Pre and Post-Hospitalization Expenses

This health insurance plan from Future Generali provides coverage against expenses incurred 60 days before hospitalization and 90 days after discharge from the hospital. The combined limits for pre and post-hospitalization depend on the sum insured. To know more, check the below table.

Sum Insured (in INR)Combined Limits for pre-and post-hospitalization (in INR)
2 lakh4,000
3 lakh6,000
4 lakh8,000
5 lakh10,000
7.5 lakh10,000
10 lakh10,000

Road Ambulance Charges

A policyholder will get coverage up to INR 1,000 per hospitalization if he/she needs to be transported to a nearby hospital.

Free Annual Medical Check-up from Second Year Onwards

With the Future Varistha Bima Plan, policyholders will get a free medical check-up after every continuous period of 1 year irrespective of whether you made any claim or not. This medical check-up includes Physician’s Consultation, ECG, CompleteMedical Blood Count, Fasting Blood Sugar, Post Prandial Blood Sugar and Sr. Creatinine.

Pre-insurance Medical Examination

If you choose a sum insured of INR 7.5 lakh and INR 10 lakh, you will need to undergo a mandatory pre-acceptance medical screening.

Sub-limits for Modern Treatments Methods

Future Varishta Bima Plan will provide coverage for the following modern treatment methods up to 50% of the sum insured. Have a look!

  1. Uterine Artery Embolization and HIFU
  2. Balloon Sinuplasty
  3. Deep Brain stimulation
  4. Oral chemotherapy
  5. Immunotherapy- Monoclonal Antibody (as an injection)
  6. Intra vitreal injections
  7. Robotic surgeries
  8. Stereotactic radio surgeries
  9. Bronchial Thermoplasty
  10. The vaporization of the prostate (Green laser treatment or holmium laser treatment)
  11. IONM (Intra Operative Neuro Monitoring)
  12. Stem cell therapy: Hematopoietic stem cells for bone marrow transplant for hematological conditions to be covered

Discounts on Premiums

Future Varishta Bima Plan provides a family discount (in case of individual sum insured option) if two or more family members are covered under the same policy.

If you choose to pay the upfront premium for a long-term policy, this plan will also provide a long-term discount of up to 10% on the premium.

What is the Policy Term of Future Varishta Bima Plan?

The minimum policy term stands at one year for the Future Varishta Bima Plan, while it can go up to 3 years.

What is the Minimum Premium Amount?

The minimum premium amount for this special senior citizen plan stands at INR 9,451 per year for the sum insured of INR 2 lakh. Individuals can also pay the premium in installments from different frequencies of monthly, quarterly and half-yearly.

Future Varishta Bima Plan Eligibility Criteria

Do remember to check the important conditions related to the Future Varishta Bima Plan mentioned below.

  1. The minimum entry age for proposers can be 60 years, while there is no maximum age.
  2. The maximum age for renewal can be lifelong.

What is Not Covered under the Future Varishta Bima Plan?

Policyholders will not get the coverage under the following conditions.

  1. Dental treatment or surgery of any kind (unless requiring hospitalization as a result of injury)
  2. Use of intoxication drugs or alcohol
  3. All expenses related to sexually transmitted diseases including HIV/AIDS
  4. Any disease during the first 30 days from the inception of the policy
  5. Expenses related to the treatment for any mental or psychiatric illness

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