How Perfect is Varistha Mediclaim Policy For the Elderly

Old age is said to be the golden years of one’s life. However, due to the hectic and busy life schedule, today a lot of elderly people are facing many health problems. The consequence of such health issues is high treatment cost which derails the pocket of an individual and leaves them in financial crisis. However, to save an individual from such a crisis, health insurance for old people plays an important part.

About Varistha Mediclaim Policy for the Elderly

Varistha Mediclaim policy by National Insurance gives financial protection to elderly people from the rising medical costs for the treatment. It is designed keeping in mind the medical needs of the elderly people as they are prone to fall ill more frequently. Thus, the policy covers them at a more vulnerable stage of their life.

Features of Varistha Mediclaim Policy

The key features of this mediclaim policy for elder people include the following:

• This policy is eligible for people who are aged between 60-80 years of age. While the policy can be renewed by them until the age of 90 years.
• The coverage under this policy includes domiciliary hospitalization and hospitalization expenses for a fixed sum insured per person.

Benefits of Varistha Mediclaim Policy

The benefits of purchasing Varistha Mediclaim policy includes:

• Availability of health check-up costs and cumulative bonus for claim free years.
• The plan offers a cashless treatment facility at the network hospitals. While, for non-network hospitals, reimbursement facilities are offered.
• Pre-hospitalisation expenses for 30 days before getting admitted in a hospital and post- hospitalisation coverage for 60 days after admission of the patient in a hospital.
• It provides coverage for room boarding cost up to 1% of the sum insured per day. The cover increases up to 2% for getting admitted in ICU and the overall coverage limit is 25% of the sum insured for each health issue.
• Coverage for blindness and paralysis at the cost of an extra premium amount. It is available at an extra premium of 15% for one of the mentioned illnesses or a 25 % extra premium for both the illnesses.
• Coverage for ambulances cost up to Rs 1000 per year.
• The policy offers coverage for many critical illnesses such as multiple sclerosis, cancer, coronary artery surgery, and for transplantation of major organs such as bone marrow, kidney, lung, or pancreas.
• The policy provides coverage costs for diagnostic material, medicines, dialysis, chemotherapy, artificial limbs, stents, implants, and radiotherapy up to 50% of the sum insured for each disease.
• Coverage is offered from the beginning of hypertension and pre-existing diabetes.
• Coverage offered for expenses related to domiciliary treatment for up to 20% of the sum insured.

Is a Health Check-up Required Prior to Purchasing the Plan?

In case the applicant is covered under any health insurance plan for the past three years, then a medical check-up is not required before buying Varistha mediclaim policy. However, for others, a medical check-up is required.

Also Read

Mediclaim Insurance Policy: Tips to File Reimbursement Claims

7 Best Health Insurance Plans with Free Medical Check-up Benefits

Take Away

Old age is the golden period of life and is meant to be spent without taking any sort of tension regarding the arrangement of finances in order to meet the rising medical expenses. Therefore, without any second thoughts, it is highly recommended that you should buy this policy for the elders in your family as a means of protection and to address the concerns related to medicinal cost, hospitalization, treatment expenses, etc.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.