National Varistha Mediclaim Plan

Compared to young individuals, senior citizens (individuals aged above 60 years) are at a greater risk of facing health issues. National Varistha Mediclaim Plan is a unique plan made for senior citizens who want to protect their health efficiently. With this plan, they can enjoy coverage against hospitalization and critical illness expenses. Let’s look at the striking features of the National Varistha Mediclaim Plan shown below.

1. Hospitalization and domiciliary hospitalization expenses coverage
2. Optional cover against critical illnesses
3. Health incentives via Cumulative Bonus
4. Health check-up facility
5. Multiple sum insured options
6. No pre-policy medical check-up required
7. A grace period of 30 days
8. Free look period of 15 days

Want to know more about these features of the National Varistha Mediclaim Plan? Well, we will discuss the same along with the benefits, premium amount, policy term, eligibility, etc. Do read to know more!

Let’s Check Striking Features of National Varistha Mediclaim Plan in Detail

As we said earlier, the National Varistha Mediclaim Plan could be the right plan for senior citizens who want to protect their finances in case of any medical emergency. We are discussing some of the striking features of this plan so that you can understand them better. We are starting with the coverage benefits that individuals can enjoy. Have a look!

Hospitalization and Domiciliary Hospitalization Cover

With this section under the National Varistha Mediclaim Plan, you can enjoy the following benefits.

1. Room charges up to 1% of the sum insured per day with a maximum of 25% of the sum insured per illness or injury
2. ICU charges up to 2% of the sum insured per day (including nursing care, RMO charges, IV Fluids, etc) with a maximum of 25% of the sum insured per illness or injury
3. Coverage for fees of surgeons, anesthetist, medical practitioner, consultants and specialists, up to 25% of the sum insured per illness or injury
4. Blood, Oxygen, Anesthesia, OT charges, surgical appliances, medicines, drugs, chemotherapy, etc. up to 50% of the sum insured per illness or injury
5. Domiciliary hospitalization coverage up to 20% of the sum insured
6. Organ Donor expenses covered up to 50% of the sum insured per illness or injury
7. Ambulance charges up to INR 1,000 per policy period
8. Cataract related coverage up to INR 10,000
9. Benign prostatic hyperplasia up to INR 20,000
10. Cumulative bonus with a 5% hike in the sum insured of the expiring policy on making no claims (up to a maximum of 50% of the sum insured)
11. Health check-up coverage up to 2% of the average sum insured
12. Pre-policy health checkup expenses coverage up to 50% of the total expenses

Tax Benefits

On choosing the National Varistha Mediclaim Plan, individuals can also enjoy tax benefits on the premium paid towards the policy under Section 80D of the Income Tax Act, 1961.

Multiple Sum Insured Options

With the National Varistha Mediclaim Plan, individuals can enjoy the flexibility of choosing from different sum insured options on an individual basis. The options are –

1. Sum insured of INR 1 lakh for hospitalization and domiciliary hospitalization cover
2. Sum insured of INR 2 lakh for the critical illness cover

What is the Policy Term?

Individuals can choose a policy period of 1 year. However, you need to remember that the policy can be renewed per year throughout the lifetime of the insured person.

What is the Premium Amount for the National Varistha Mediclaim Plan?

The premium amount for National Varistha Mediclaim Plan will depend on the age of the individual and the sum insured option chosen. To know more, you can check the below table.

National Varistha Mediclaim Plan Eligibility Criteria

Do check the National Varistha Mediclaim Plan eligibility criteria that we have mentioned below.

1. Any individual between the age of 60 years and 80 years can choose this policy.
2. The grace period for this policy can be a maximum of 30 days from the premium due date.
3. The free look period can be 15 days from the date of receipt of the policy, within which an individual can return the policy if he or she is not satisfied with its terms and conditions.

What’s Not Covered Under the National Varistha Mediclaim Plan?

It’s also important to understand the exclusions under the plan before choosing the same. Let’s check them below.

1. HIV or AIDS
2. Sterility or Venereal disease
3. Treatment arising from pregnancy or childbirth
4. Intentional self-injury or drug/alcohol abuse
5. Vaccination or inoculation
6. Dental treatment
7. Naturopathy treatment
8. Spectacles and contact lenses
9. Hearing aids
10. Injury or diseases from nuclear weapons or materials