Home » Varishta Mediclaim policy

Varishta Mediclaim policy

December 6, 2020

A health insurance plan designed to make the life of senior citizens easier is The Varistha Mediclaim Policy. This scheme is applicable for the citizens who are aged about 60-80 and they can avail the insurance and the policy period is for a year.

After the 30 days of enrollment the policy gets activated. By covering many range of diseases the policy has many benefits and also provides coverage for pre and post hospitalisation period.

The insurance provides a cover of Rs 1,00,000 for hospitalization and Rs 2,00,000 for critical illnesses. The plan also covers organ transplants up to a specified amount. Varistha Mediclaim Policy also provides the opportunity to use cumulative bonuses and coverage for the price of health check-ups done during the non-claim period.

An amount of 1000 Rs is covered for emergency ambulance services.This Mediclaim policy is offered by the National Insurance Company Ltd, the company allows policy renewal until the insured citizen reaches an age of 90.

The claim covers for critical illness such as coronary artery surgery, strokes, renal failure, and even cancer. The claim also gives an opportunity to cover for conditions such as paralysis and blindness on an extra premium.

Features of National Insurance Varistha Mediclaim

For emergency or planned hospitalization this sum assured is available.
The health insurance cover can be renewed for life.
if the applicant has been covered with any health insurance policy continuously for past 3 years No health check-up is required.
The policy has a great feature of rewards like cumulative bonus and free health check-up for claim free years.

Benefits of National Insurance Varistha Mediclaim

The policy has a provision for an optional benefit to cover critical illness like stroke, cancer, multiple sclerosis among others. The sum insured for critical illness is INR 2 lakhs and the claim is paid in a lump sum on diagnosis.
Pre hospitalisation cover of 30 days and post hospitalisation cover of 60 days is available in the plan.
Some pre-existing diseases are included in coverage after one year of claim-free renewal.
Pre-existing diseases like Hypertension and Diabetes can be included in coverage from the start of the policy on payment of extra premium.
The policy provides a free medical check-up for being enrolled in the policy for continuous 3 years. The medical check-up reimbursement amount is limited to 2% of the sum insured.
The policy offers a free look period of 15 days where if the policyholder is not satisfied, he/she can return the policy to the insurance company and get relevant refund amount.

Tax Benefits of National Insurance Varistha Mediclaim

The premiums for the plan can be claimed for tax deduction under Section 80D of the Income Tax Act, 1961. Please note the tax laws are subject to change from time to time and hence, it is recommended to consult a tax expert on the same.

What is Covered in National Insurance Varistha Mediclaim?

Hospitalisation expenses are paid till 1% of Sum Insured up to the amount of 25% of sum insured.
Charges incurred for surgery such as fees of the surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialists etc. are covered up to the amount of 25% of sum insured.
The expenses incurred for blood, oxygen, diagnostic charges, medicines, drugs, etc are covered up to the amount of 50% of Sum Insured.
Ambulance charges in case of emergency travel to the hospital are covered to the amount of INR 1000 for one policy year.
Cataract and Benign Prostatic Hyperplasia and Organ Transplant are also covered in the scope of the policy, but to a certain specified limit.

Documents required to buy National insurance varishta Mediclaim.

The applicant has to provide age proof of all the family members who will be getting covered with the health insurance policy.

Age proof