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Health Insurance 1151 views August 27, 2020
People aged above 60 years can be susceptible to diseases more than their younger counterparts. And their hard-earned savings might be lost if they don’t have a health insurance plan. Senior Citizen Health Insurance can aid them in such times. Today, there are various health insurance policies specially designed for Senior Citizens from several companies, which might leave you wondering which will be better for you. Amongst the options you have, a Senior Citizen Mediclaim policy from New India Assurance is the one you could think of having. It offers the cover for a wide range of diseases and conditions and has different sum insured plans for you to choose from. So, if you are a senior citizen, you should read about New India Senior Citizen Mediclaim Policy and see whether it is worth paying the premium towards it.
Table of Contents
Health insurance for senior citizens in New India is offered to individuals who are aged 60 to 80 years. The New India Senior Citizen Mediclaim Policy can be availed by children as well who want to give health insurance to their aged parents or senior citizens in the family. The insurance policy has a sum insured of
Fees for Equipment Used During Treatments/Surgeries
The maximum limit for all these expenses as per New India Senior Citizen Mediclaim Policy terms and conditions is 50% of the aggregate of Sum Insured and Cumulative Bonus Buffer per illness or injury.
Treatments/Surgeries Covered Under New India Senior Citizen Mediclaim Policy
In case of your multiple surgeries in one sitting, for the same illness or injury, highest grade surgery will be approved at 100%, the second surgery at 50% and the third surgery at 25% of the capped amount.
The insurance company or Third Party Administrator (TPA) pays the Pre & Post Hospitalization expenses of 30 or 60 days, which may be subject to the maximum limit of 10% of the Sum Insured.
To get claims for New India Senior Citizen Mediclaim Policy for Illnesses, accidents and certain treatments, you need to conform to the following criteria
TPA, on behalf of the insurance company, provides the insured person a cashless facility with which the insured can pay the hospitalization expenses at the time of discharge. The settlement will be made directly by the TPA. However, the expenses that are not covered in the Policy would not be paid, and the insured would have to pay such charges to the hospital. You can get this cashless facility only in Network Hospitals approved by the TPA. Before you get admitted to the network hospital, you should get approval from TPA for a cashless facility.
You can visit the TPA website to select the network hospital. To avail the cashless facility your ID proof is required.
In case you get the treatment at a non-network hospital, you are not eligible to claim the cashless facility on your New India Senior Citizen Mediclaim Policy. In that situation, you will need to pay from your end and file a reimbursement claim. Within 24 hours of hospitalization, you should inform TPA and submit the following documents (original) within seven days from the date of discharge.
If you want to opt for a voluntary co-pay of an extra 10%, which is a total co-pay of 20%, the insurance company will allow you a discounted premium. You shall bear a Co-Payment of 10% of the final claim admissible amount and the company liability shall be restricted to the payment of the balance amount, which is the Sum Insured and Cumulative Bonus Buffer or 90% of the admissible claim amount, whichever is less.
But when you opt for voluntary co-pay of extra 10%, the company’s liability will be:
Note: In case of unfortunate death of the insured, the other person can continue the policy even if he/she is below 60years of age. If the co-insured person is a woman, she might get a 5% discount on premium payment as per the policy terms and conditions